01.10.2024
HOW MUCH MONEY IS SAVED WORKING FROM HOME
New research into the travel habits and associated costs of office workers has revealed the significant savings that can be made by working in a hybrid model. Research by the International Workplace Group shows that employees can save up to $30,332 a year in the US and £13,188 in the UK by working closer to home in the heart of their local communities.
The study found that the average daily cost of an employee who works from their headquarters is $48.40 (a total of $10,067 per year for employees spending four days a week at their headquarters). The most commonly purchased items include lunch (74%), snacks (60%) and coffee (50%).
Working locally can significantly reduce day-to-day travel costs, allowing workers to save for other financial priorities. More than three-quarters (76%) say hybrid working has reduced their monthly costs, taking into account factors such as the cost of public transport tickets, fuel, parking and the daily extra costs of morning coffee and food.
The study, conducted by the International Workplace Group and consultancy Development Economics, combined research on more than 2,000 office workers with publicly available transport data, analyzing multiple hybrid scenarios with a focus on the popular hybrid model of working locally four days a week.
The study reveals that employees who commute long distances on a daily basis incur significantly higher costs, while missing out on the many work-life balance benefits that working nearby provides. Workers can now better understand the savings they could make by moving to a closer job using this new online calculator from the International Workplace Group http://www.iwhybridcalculator.com/
These significant savings could be especially transformative for younger workers looking to pay off debt or save for financial goals such as a down payment on a home. A 24-year-old Gen Z worker living in the popular commuter town of Red Bank, New Jersey, for example, can expect to save up to $388,320 over his working life just in commuting costs , if he instead works locally four days a week.
Workers in all areas report significant cost reductions when working locally. Four in five (84%) say a reduced commute has put them in a better position to meet their financial goals. Two-in-five (38%) report adding their savings to a 'breakfast' fund, and almost as many use holiday savings (37%) and more than one-in-three (35%) put their savings towards a full paying off credit card debts.
Reducing daily long commutes proves to have numerous benefits beyond cost savings. 84% of respondents said that spending less time commuting had a positive impact on their work-life balance, with 40% using the extra time to relax or pursue hobbies, and a significant some spend the time saved from traveling in activities that support their physical (38%) or mental health (34%).
Scientists such as Professor Nicholas Blum of Stanford University expect that up to 30-40% of employees will work in a hybrid model in the long term. As businesses steadily shift to hybrid working, further research from the International Workplace Group and Arup found that the number of office workers in major cities could increase by up to 60%. As more workers embrace this trend, it's no surprise that two-thirds (60%) express a desire to work within 15 minutes of where they live.
Mark Dixon, CEO of International Workplace Group, says: “It won't be long before the concept of the long daily commute is consigned to history. The idea that every morning office workers will wake up early, get into polluting cars or crowded trains and travel many kilometers to their workplace will very soon be an oddity that people only did in the past. Our research with Development Economics highlights the significant savings that hybrid employees can now invest in other aspects of their lives, whether that's helping them get into the housing market or saving for other financial goals and milestones.”
30.09.2024
VISA LAUNCHED THE GRANT PROGRAM TO SUPPORT FEMALE ENTREPRENEURS IN BULGARIA
The card and digital payment company "Visa" announced the start of the first edition of the She's Next grant program in Bulgaria.
The initiative, in partnership with the "Women's Forum" association, aims to support Bulgarian women entrepreneurs by providing them with practical knowledge, tools and prospects for growth. The program focuses on supporting small businesses through mentoring, funding and networking opportunities.
Women who are developing their own business and are interested in participating in the program can submit their applications from October 1 to November 10, 2024 on the special page of the Women's Forum website.
The need for such initiatives is underscored by a recent Visa survey that revealed a significant lack of awareness and access to resources among women entrepreneurs. More than half - 59 percent - of the women surveyed reported that they were not aware of the resources available, whether financial, legal or counseling. The existing opportunities are known to only 9 percent, according to the survey conducted in February and March this year.
Fifteen female entrepreneurs will be selected to participate in a three-month mentoring program, which will be implemented with the help of the "Women's Forum" association. At the end of the program, all participants will present their business development projects to a jury. The three most outstanding projects will receive grants totaling BGN 45,000 to support the growth and development of their business.
"The inclusion of women entrepreneurs is not just a goal, but a necessity for economic growth and innovation. Through the She's Next program, we aim to provide the necessary resources and support so that women in Bulgaria can achieve success in their business ventures. By offering practical guidance, mentorship and funding opportunities, we believe we can unlock the full potential of these amazing lady entrepreneurs and help them overcome the unique challenges they face. Our partnership with "Women's Forum" emphasizes our commitment to promoting an inclusive and dynamic business environment in which women can be leaders and develop", said Krasimira Racheva, executive director of "Visa Bulgaria".
"Women's Forum" partnership with the She's Next program is in sync with our mission to empower the next generation of women entrepreneurs through mentorship, expertise, skills and sharing of life lessons. In the partnership with "Visa" we recognized the synergy and the opportunity to join forces for a better tomorrow, for which we at "Women's Forum" strive to work every day. Thanks to the Visa team for the inspiration and opportunity! We look forward to contributing to the transformation and development of the ladies participating in the project," said Diana Miteva, chairwoman of the board of directors of the "Women's Forum" association.
"I became familiar with the Visa She's Next program and with great pleasure accepted the invitation to be its ambassador. I am a woman and an entrepreneur and I know how much effort it takes to create and grow a successful business. Initiatives that support this can only inspire and fill me with hope. I can't wait to see the projects that the participating ladies will create", said Maria Ilieva, ambassador of the She's Next program in Bulgaria.
Since 2020, Visa has invested about $3 million in more than 250 programs for women small and medium-sized business owners, as part of the company's commitment to support business internationally, the company said.
27.09.2024
FINAL: THE COMMERCIAL LAW WAS CHANGED - RAPID LIQUIDATION OF COMPANIES UNDER SIX CONDITIONS
Traders who meet six conditions will be able to conduct quick liquidation proceedings, without the multiple applications to different authorities, and creditors will be satisfied in shorter terms. This follows from the changes to the Commercial Law finally adopted by the National Assembly.
Voluntary liquidation of a business currently takes nearly a year, and the procedure is lengthy and expensive. There are also hundreds of cases in which liquidation takes 4-5 years. The conduct of the proceedings requires the submission of several consecutive applications for entry of various circumstances and announcement of acts in the commercial register - for entry of termination of activity and liquidation, invitation to creditors, for deletion after completion of liquidation. In addition, a notification is also submitted to the National Revenue Agency for the upcoming liquidation proceedings, as well as to the National Insurance Institute for the transmission of payrolls, which end with certificates.
Therefore, in the Recovery and Resilience Plan, it was envisaged in the Trade Act to provide for fast-track liquidation proceedings, the adoption of which was delayed due to the frequent change of parliaments.
Deputies accepted in the second reading the amendments to the Commercial Law, which provide that in order to benefit from a faster liquidation, the trader should meet six conditions. They are the company to:
The existence of these circumstances is certified by a declaration that the liquidators submit when submitting an application for termination of activity and liquidation.
Quick liquidation proceedings are conducted when the company is terminated by decision of the general meeting and/or consent of the partners. "For this, a decision to conduct quick proceedings is also necessary, which is taken by the general meeting of the limited liability company, the joint-stock company and the company with variable capital, and for the other commercial companies - unanimously by the unlimited partners", the deputies wrote in a new Art. 274a in the Commercial Law.
In the case of quick liquidation, a shorter term is provided for satisfying the creditors - the company's property is distributed if three and not six months have passed since the day on which the invitation to the creditors was announced in the commercial register.
When it receives an application for quick liquidation, the Registration Agency will send a notification electronically to the National Revenue Agency. Within 30 days of its receipt, the National Revenue Agency will electronically provide the agency with the information it has on whether the six conditions for quick liquidation are met.
When submitting an application for termination of activity and quick liquidation, the company, again through the Registration Agency, will submit an application for the issuance of a certificate for handing over the payroll. And she will inform the National Insurance Institute immediately and ex officio. The relevant Territorial division of the institute will issue a certificate for handing over the payrolls within 30 days from the entry of the termination of the commercial activity and the opening of quick liquidation proceedings, provided that the company has no outstanding obligations. The certificate will be sent electronically to him and to the Registration Agency.
In addition to the changes governing the rapid liquidation proceedings, the deputies also adopted amendments to the Commercial Law on cross-border conversions. With the new regulations after Art. 265 of the Commercial Law already has provisions in all letters of the alphabet, i.e. there is already art. 265ya.
All changes to the Commercial Law were adopted without votes against. The key question raised for discussion was when these changes, which in addition to ending two criminal proceedings against Bulgaria, are also in favor of business, will actually start to operate and become a "living" law.
At the end, a year was given in the Commercial Law to ensure the technical possibility to implement the new possibilities for quick liquidation and cross-border conversions. It was foreseen that the Minister of Justice would ascertain the existence of this technical possibility with changes to Ordinance No. 1 on keeping, storing and accessing the commercial register and the register of non-profit legal entities, so that they would be promulgated in the "State Gazette" and so that they become known to businesses that will take advantage of them.
26.09.2024
HOW TO RAISE YOUR MENTAL IMMUNITY FOR CAREER SUCCESS
The slang "I don't care" has scientific names. It's called psychological immunity and a culture of resilience. It's really all about the same thing - not letting something shake you so hard that you lose your ability to work.
And as many things as you want: a grumpy boss, colleagues who don't care, but in that sense - they don't want to work, demanding clients, disagreeable partners, a bunch of tasks and all of them urgent, even the bad weather.
There are thousands of pills and natural stimulants that raise the body's immunity, but none for increasing psychological resistance.
Career and personal development experts say something similar - that the cure for raising your psychological immunity is in your own head. Therein lies the key to not only surviving, but thriving in and after any upheaval.
The first and most important thing is to accept that real professional life is not a string of successes. Crashes happen, even if you do your best, use foresight, have a plan B, etc. details of the recipes on "How to protect yourself from failure". After failure, a resilient person finds the strength to pick himself up, draw the necessary conclusions and move on. The unstable collapses and wallows in self-pity.
By the way, psychological immunity can also be collapsed by success. If someone forgets themselves after it, it's over.
What distinguishes a person with healthy mental immunity from others is that he understands the cycle of life: sometimes he is among the winners, other times he is among the losers, but regardless of the outcome, he does not give up overcoming disappointments and fears to pursue his goal . The only thing he is really afraid of is missing out on an opportunity that has opened up in front of him, personal development experts point out.
The second is to isolate yourself from viruses. Just as you are careful what you touch and wash your hands often to avoid catching the flu during an epidemic, so try to rarely touch people who will infect you with negativity. It's not easy, because there are probably such entities among your colleagues and partners. But avoid them as much as you can.
Contact with honest, determined, optimistic individuals has been proven to improve your psychological immunity. These people infect you with a persistent pattern of behavior and delegate success to you. If not all the time, at least on your lunch break you might choose to communicate with just such a colleague instead of some grumbler.
There is no doubt that positive people help you reach your full potential and toxic people hinder your development. And since there's a theory that every person is an average of the five people they spend the most time with, choose your surroundings wisely.
To be resilient, you must not overdo the amount of attention you pay to other people's opinion of you. It is impossible to completely ignore the assessment of others, but this does not necessarily mean that you accept it as unbiased and adequate. Or to suffer as it is, although you are aware of what it is dictated by. You can't change the envious co-worker, but you can ignore what he's saying. The ears are yours.
The world is full of cynics, naysayers, people who love to hate. By pushing them out of your mind, you preserve yourself. No matter what others think of you, it's important that your self-respect comes from within. This is both a sign and a stimulus for healthy psychological immunity, experts emphasize.
If you want to strengthen it, it's not a bad idea to take an example from a person in the office who always seems immune to stress and tantrums. You may notice that he has tricks up his sleeve - regaining his composure by taking deep breaths, say. Or in acute situations, he does not get angry, does not dramatize, but shows a sense of humor.
It is also good to make friends with such a colleague in order to lean on him in case of need - the most powerful impulse for mental resilience is interpersonal support.
You will do yourself a great favor by reading quality articles about successful people. Their life stories are often actually a story of successes and failures, struggles and twists and turns that they went through thanks to their mental resilience. From this story, you can learn how they practically achieved it, and also get inspired.
When you think you need to strengthen your immunity, remember that there is at least one good thing about today's world - you can find recommendations on how to cope at a click away on quality sites. There's everything from wise thoughts to advice articles to specific stress-busting techniques. On the Internet you will also find the latest scientific findings on how to build psychological armor.
All of this will encourage you and allow you to program yourself for success. Because you don't admit that among the billions of people on the planet, some things only happen to you, that they didn't happen to anyone else, which is why you have to find the "warm water" yourself.
25.09.2024
WHAT ARE THE OBLIGATIONS OF THE UNEMPLOYED PERSONS REGISTERED IN THE LABOR DIRECTORATE?
Registered unemployed persons are obliged to:
Which job is "suitable"?
Suitable work is work that corresponds to the person's education and/or qualifications and/or professional experience, as well as his or her state of health, if it is located in the same settlement or up to 50 km outside it, provided there is a suitable public transport, for a period of up to 12 months from the date of registration of the person in the "Labour Office" directorate. After this period, "suitable work" is that which corresponds to the person's state of health, if it is located in the same settlement or up to 50 km outside it, provided that there is adequate public transport.
What are the penalties for non-fulfilment of any of the obligations of unemployed jobseekers?
When unemployed persons do not fulfill any of their obligations to the Directorate of Labor, their registration is terminated. They have the right to the next registration after the expiration of 6 months from the date of termination of the previous one.
24.09.2024
RAISING THE RETIREMENT AGE WILL SAVE THE LABOR MARKET
People aged 60 to 69 can save the European Union's labor market in the face of a deepening demographic crisis. With the development of successful deferred retirement policies, their share in the total workforce could increase from 9% in 2023 to 14.2% in 2040. In this way, EU companies have a chance to catch up to 75% of the projected shortfall of labor, claims the latest report from the global leader in trade credit insurance Allianz Trade (formerly Euler Hermes). The research comes out on the eve of International Age Diversity Day, which is celebrated on September 24.
According to statistics, with the increased retirement age in Bulgaria, the level of engagement of people over 60 in the labor market is higher than the average for the European Union. In 2023, over 60% of people between the ages of 60 and 64 in our country continue to work, which ranks us 11th out of the 27 member states. In this age group, the level of engagement in the labor market is highest in Sweden - over 73% compared to an average of 53% for the EU. The lowest is in Luxembourg – only 23%.
In our country, the level of workers between the ages of 64 and 69 is also relatively high, with nearly a fifth of them continuing to work. For comparison, in Romania their share is only 5%. In Estonia, however, it already reaches 38%.
Apart from keeping people on the labor market until an older age, a solution can also be sought in attracting migrants. According to this indicator, however, Bulgaria continues to be in last place in the ranking for the EU, with only 0.2% of all working in our country being foreigners, compared to average levels of over 9% for the Union and reaching over 53% in the top country - Luxembourg. Bulgaria is also among the main donors of labor for Western Europe, which makes the prospects for the labor market in our country even more difficult.
In the report, Allianz Trade experts also point to a number of challenges for keeping people in the labor market until a later age. Europe can count on this saving option for its economy only if companies redouble their efforts and seriously revise their policies in this direction.
This includes reorganizing work processes, working hours and shifts, as well as investing in age-friendly workplace equipment. Part-time work, working from home, lifelong learning and tackling ageism are also important steps. Healthcare development is a key element in the overall strategy. This can help delay or avoid the onset of age-related diseases and keep the workforce healthier for longer.
Intergenerational knowledge transfer should be a priority for businesses, management styles should also become more age-inclusive. Employees must be motivated to learn and change continuously. Given the rapidly evolving technology landscape, however, training requirements will increase dramatically over the next few years, experts warn. The expected twists and turns associated with the use of generative artificial intelligence will also require great flexibility, including from older employees.
In this context, the so-called Millennials and Generation Z place a high value on opportunities for development, the acquisition of knowledge, and openness to change. Companies will therefore need to rethink their management style so that they retain young talent but can also integrate the wisdom and resourcefulness of older people in the workplace, the Allianz Trade report explains. However, experts are adamant that when generational relationships are not antagonistic but cooperative, companies with mixed teams increase the productivity of both older and younger employees.
19.09.2024
AND LONELINESS IS HELPFUL FOR CAREER SUCCESS
Most people are very afraid of the lack of social contacts. Even in the office, it seems to them that they should not spend their holidays in solitude. They want to chat with colleagues or contact friends over the phone and keep up with what's happening on the web.
Communication is indeed a pleasure, but it still has limits, psychologists warn. It is exhausting if continuous and can become dangerous to health.
During a half-hour lunch break, you will clear your head much better if you are in the company of only yourself. Chatting with colleagues may not refresh you, but burden you. It is even mandatory to spend it in silence, since your work requires you to be in contact with many people almost all the time.
Talking while eating or having someone talk to you is also not at all good for health.
Solitude increases productivity and creativity. This has been proven by numerous studies and their results are one of the reasons why they are no longer considered modern so-called. open spaces in the offices. As a person who cannot hear his thoughts, he works less efficiently. If he is among colleagues even on breaks, he doesn't notice any variety.
You shouldn't think about your business commitments during the breaks, but they remain in your subconscious anyway. A break can be the catalyst that allows you to clarify an idea or solve a problem by seeing it in a different way. However, if you chat with colleagues, especially if they tell you about their work, they will distract you. Well, maybe their stories will tell you how to approach your task, but that doesn't happen very often. Relaxing alone is much more fruitful because it energizes and ultimately leads to career success.
Constant communication makes people less sensitive. According to results of psychological research, those who spend more time alone are more understanding and empathetic towards others. Scientists explain it by the fact that a person who constantly lives in "social noise" ceases to be impressed by the problems and needs of others, because he is overwhelmed.
Take time to be alone and listen only to your inner voice, experts advise. Multiple studies have found that it helps build a stronger psyche. When you give yourself minutes or hours alone, you start to feel more independent and more confident.
People who are constantly in contact experience more stress and more often suffer from depressive states.
The stress is understandable - no matter how pleasant the communication is, it is still taxing.
At first glance, however, this about depression is paradoxical, because research has shown that loneliness also leads to it. The secret is in the measure. A person who is used to constant communication, being alone even for a while, begins to feel anxiety.
The bottom line is that you have to dose carefully. Don't be the colleague who never talks informally with others. Let's not take over every day with everyone under control during the holidays. And when you can choose between several companies, prefer the one in which there is laughter, not grumbling.
18.09.2024
HOW TO READ CORRECTLY A DISMISSAL ORDER
Upon termination of the employment relationship, it is essential to issue a dismissal order or other document certifying the fact of termination.
Although the Labor Code does not provide specific details for this type of document, its preparation requires attention and clarity in order to provide the information necessary to understand the circumstances surrounding the termination of the employment relationship.
Here are sample details in a termination order:
- Three names and position of the worker/employee. The names of the worker, the position held and detailed identification for clear identification.
- Legal basis for termination. A clear and specific statement of the reason for termination of the employment relationship, in accordance with the legal provisions.
- Indication of other documents on the basis of which the termination was carried out. For example, in case of layoffs - indication of the decision of the governing body and the selection protocol.
- Compensation due and legal grounds. Explanation of the amounts and compensation provided for termination for various reasons (failure to comply with notice, unused paid annual leave, etc.). Termination of employment is a stage that can be fraught with considerable emotion and uncertainty. In this context, it is important that the worker is aware of his rights to benefits from both the state and the employer. Such benefits are provided by law and must be provided.
Upon termination of employment, it is essential to ensure the correct payment of benefits due. According to the law, the employer must make the payment of the corresponding amounts, but an interesting question arises if these benefits are not clearly written in the employment contract or other agreements between the parties.
According to the law, the failure to enter the due benefits in the termination order does not release the employer from the responsibility for their payment. State law and regulations on severance pay are critical and are used to protect workers' rights. In this way, the worker is provided with legal protection and the opportunity to benefit from the benefits owed to him, even when they are not expressly stipulated in the contract.
Termination of employment requires precision and care, especially with regard to the benefits the employee is entitled to receive. State labor laws and other regulations provide a basis for employee rights, even when the benefits are not clearly stated in the written contract. These legal requirements are intended to ensure fair and correct treatment of the employee upon termination of employment.
The role of the court is essential in the resolution of disputes over the benefits due. In case of ambiguity in the employment contract, the court will usually interpret the terms in favor of the worker, in order to guarantee his rights.
Therefore, the worker or employee may rely on the statutory provisions and rules of the state that provide a basis for claiming compensation, even if such compensation is not expressly stated. Such an approach provides legal protection and security for the worker, guaranteeing fair treatment upon termination of the employment relationship.
17.09.2024
A RECORD FEW UNEMPLOYED IN OUR COUNTRY
In the second quarter of 2024, the share of job vacancies in the European Union fell to 2.4 percent of all jobs, compared to 2.6 percent in the previous first quarter. This is shown by the latest data of Eurostat, published on the website of the statistical agency.
For the same period, vacancies in the Eurozone were 2.6 percent, which is a drop from the 2.9 percent reported for the previous quarter. In the EU, job vacancies in the second quarter were 2.2 percent in industry and construction and 2.7 percent in the services sector. In the currency union, these shares were 2.3 and 2.9 percent, respectively, in industry and construction and in services.
Among EU members for which data are available, the highest vacancy rates in the second quarter of 2024 were recorded in Belgium and the Netherlands (4.4 percent each) and Austria (4 percent).
In contrast, the fewest vacancies were registered in Romania (0.7 percent), Bulgaria (0.8 percent), Poland and Spain (0.9 percent each).
Compared to the same quarter of the previous year, the job vacancy rate increased in six Member States, remained unchanged in another three Member States and decreased in eighteen. The largest increase was observed in Greece (+0.9 p.p.). The largest decline was recorded in Germany (-1 pp), Austria (-0.9 pp) and Sweden (-0.8 pp).
16.09.2024
THE ECONOMIC AND SOCIAL COUNCIL RECOMMENDS PROMOTING LIFELONG LEARNING
Measures to readjust education towards applicability of knowledge are recommended by the Economic and Social Council in a report on the topic: "Inequalities in education and their impact on the labor market in Bulgaria. Solutions for readjustment of the educational system towards applicability of knowledge and formation of social skills".
The document was developed at the proposal of the presidency, reports the press center of the Economic and Social Council. The Council recommends promoting lifelong learning and the adoption of a new law to regulate and guarantee the acquisition of the so-called soft skills that include social skills and key competencies.
The report's findings state that there are disparities in student preparation. There is also a significant difference in the prestige of individual schools, and one of the main reasons for the latter is the conviction of students and parents in the different quality and level of teaching, the Economic and Social Council points out. It also takes into account the presence of educational inequalities, which are due to both income inequalities and other factors - ethnicity and the socio-economic level of the students' families.
In Bulgaria, more than 16,000 children live in villages without kindergartens, which greatly hinders their access to education and early childhood care, the analysis also states. There is a lack of a nationally accepted mechanism for long-term planning by municipalities of service needs. The situation is most critical in Pazardzhik (with 9.9% availability of nursery places), Sliven (10.1%) and Kardzhali and Vidin (14.2%).
The data in the analysis also show that 85.5% of students aged 5 years are enrolled in preschool or school education, which is below the average level for the European Union - 96.3%. This ranks us among the ten countries with the worst performance according to the indicator in the Union, according to the experts of the Council.
Early school leaving continues to be particularly high in rural areas and among the Roma. Students dropping out before the end of the academic year reaches 30% in villages and over 15% in small towns. Last year's data show that 35% of Bulgarians between the ages of 30-34 have completed higher education, which is nearly 10 percentage points behind the EU average, the Economic and Social Council notes.
The need to set aside financial resources to provide scholarships for students in majors recognized as important to the normal state of the labor market and the functioning of various industries is also considered.
"We are in one of the last places in the EU in terms of the relative share of young people (18-34) who neither study nor work - in 23rd place out of 27, the Council also points out. The report also emphasizes that 75% of employers in our country encounter difficulties in finding employees due to a lack of key competencies such as initiative and entrepreneurship, digital abilities, etc.
