13.09.2024
WHAT THE LATEST CHANGES TO THE CASH PAYMENTS RESTRICTION ACT PROVIDE FOR THE PAYMENT OF LABOR REMUNERATION BY BANK TRANSFER
Comment from the specialist
Assoc. Dr. Andrey ALEXANDROV, Institute of State and Law at the Bulgarian Academy of Sciences, Southwest University "Neofit Rilski" - Blagoevgrad
New changes were recently adopted - § 41 of the Transitional and Final Provisions of the Law on Amendments and Supplements to the Accounting Law (promulgated SG No. 72 of 27.08.2024) amended the provision of Art. 3, para. 1, item 3 of the Law on Restriction of Cash Payments.
We summarize the most important developments to date, as well as what's new in the payment of remuneration by bank transfer.
The Bulgarian legislator adopted the idea that in the current economic and political conditions in our country, payment by bank transfer is necessary and is in the interest of employees. The changes to the Cash Payments Restriction Act of 2023 were motivated by the desire to limit work in the "grey" sector, i.e. curbing the vicious practice of irregularly paying salaries in cash in order to "save" taxes and insurance. The increase in the relative share of bank payments makes the movements of the amounts traceable and is a kind of guarantee for their accountability.
In the provision of Art. 3, para. 1, item 3 of the Law on the Limitation of Cash Payments (in the version effective from 01.09.2023) it was stipulated that payments on the territory of the country are made only by transfer or payment to a payment account, when they are labor remuneration under within the meaning of the Labor Code, paid by employers with 100 or more employees, with the exception of persons with whom an employment contract has been concluded for short-term seasonal agricultural work in accordance with Art. 114a of the Labor Code.
This exception is logical and implied: in the employment contract for short-term seasonal agricultural work, the remuneration is paid personally to the worker against a receipt at the end of the working day (Article 114a, Paragraph 5 of the Labor Code). Considering the not particularly high amount of these remunerations, it would be unjustified to introduce a requirement that they must be paid by bank transfer.
It is important to note that the criterion by which the obligation to pay by bank transfer was introduced is not the size of the amount (which is the main principle of the Law on Limitation of Cash Payments), but the number of personnel employed by a particular employer. If the enterprise has fewer than 100 workers, the general rule remains that remuneration can be paid in cash. I have already had reason to express reservations about this decision, so I will refrain from commenting on it here as well.
As mentioned, these changes were voted through the Transitional and Final Provisions of the Accounting Law Amendment Act. Why this legislative practice is extremely vicious and creates enormous legal uncertainty has been discussed more than once. In an increasingly disturbingly large number of cases, important changes in labor (and not only) legislation are "pushed through" with the Transitional and final provisions of other normative acts that have little (or nothing) to do with the amended matter. This makes them difficult for their recipients to track, and – perhaps even worse – often completely unmotivated. Such changes are often "born" between the first and second reading of a bill in the plenary hall, without being subject to public discussion and without a clear assessment of their impact.
The case under consideration is of this kind. The initial draft of the Law on Amendments and Supplements to the Accounting Law does not foresee any changes to the Law on Limitation of Cash Payments. It was only between the first and second reading of the draft law that the proposal (which was ultimately accepted) appeared, the provision of Art. 3, para. 1, item 3 of the Law on the Limitation of Cash Payments to be amended as follows:
[Payments on the territory of the country are made only by transfer or payment to a payment account when they are: …]
Labor remuneration within the meaning of the Labor Code, paid by employers with 100 or more employees, with the exception of:
The motives of the proponents of the proposal are so short that they can be quoted in their entirety[2]: "Employers who hire foreigners from third countries cannot meet the requirements of Art. 3, para. 1, item 3 of the Law on Limitation of Cash Payments, due to the fact that most foreigners who are employed do not have bank accounts either in Bulgaria or in their country of origin. Employers who have more than 100 employees may have both seasonal and year-round foreign employees. The procedure for obtaining a permit and issuing a bank account is identical in both cases. The procedure lasts about 3 months. During this period, foreigners have the right to work, but cannot receive their remuneration on the basis of Art. 3, para. 1, item 3, because they do not have bank accounts. Issuing a bank account for seasonal workers will create an administrative burden on banks. Since the procedure for issuing a bank account for them also takes about 3 months, and the seasonal work permit is from 3 to 9 months, i.e. the person will be able to use the account for a very short period or not at all. The proposal also adds "persons from third countries with whom an employment contract has been concluded on the basis of Art. 24 of the Law on Foreigners in the Republic of Bulgaria - for a period of up to three months after the issuance of a residence document" so that these persons, while they receive their bank accounts, can receive their remuneration in cash."
The reasons thus presented sufficiently clearly reveal the purpose of the proposed amendments, which are already part of our current legislation. The impotence to speed up the procedure for opening a bank account for the foreigner has led to the result of paying him a cash reward so that he does not have to open an account. It is apparently not so important that this "exception to the exception" runs counter to the general legal concept of "lightening" income by wire transfer.
The changes are effective from 07/06/2024 (when most of the Law on Amendments and Supplements to the Accounting Law also enters into force), which is another legislative absurdity. If, between 07/06/2024 and 08/27/2024, an employer with more than 100 employed workers paid wages to seasonal and other third-party workers in cash, he was in violation of the regulations in force at that time. Whether giving retroactive effect to the law remedies such violations is perhaps a question to be answered by future administrative and judicial practice.
In conclusion, I will take the liberty of quoting from memory the well-known joking statement of a remarkable Bulgarian jurist and public figure with a brilliant sense of humor: "I fear that one day they will bring back the death penalty through the Transitional and Final Provisions of the Beekeeping Law." Without a doubt , this aphorism from many years ago is still relevant today.
_____
[1] Aleksandrov, A., On the payment of labor remuneration by bank transfer and is it a guarantee for the interests of workers and employees. – Labor and Law, 2024, No. 4, pp. 22–28.
[2] The original text of the proposal is available on the Internet at: https://www.parliament.bg/bg/bills/ID/165592,
See Proposals between first and second ballot; No. 3. Entry number: 50-454-04-31 dated 08/06/2024.
12.09.2024
HOW THE LUCK SYNDROME AFFECTS CAREER SUCCESS
Some people rely on luck. They believe that without making any effort, luck will fall from the sky somewhere and everything will be arranged in the best way. Miracles usually do not happen, and bitter experience always brings them the conviction that luck is most often earned.
Some people suffer from the lucky syndrome. They think that they are doing well, and they do not realize that nothing falls to them from the sky somewhere, but they provide it themselves. It does not weigh on them because they are smart, capable, love their work and have the ambition to do it in such a way as to achieve success. But because of this ease, they do not have enough self-confidence, they doubt their own skills.
Luck syndrome is a disease that can affect even the most intelligent people and make them downplay their achievements. And healthy confidence is key to success. Because it gives you courage and you achieve even more.
"My success is pure luck" is a misconception when it comes to your career. Yes, luck plays a role in everyone's story. But don't overlook the efforts and sacrifices you've made throughout your life to get here. No one would hire you for this job if you hadn't worked hard to get the education, qualifications, experience. The HR specialist at the company would have rejected you just by seeing what you listed in your bio.
It is very dangerous to attribute all your successes to luck, because you will begin to worry that you will not be able to maintain the high level you have reached for long, because it is due to chance and not to your abilities and knowledge.
Even if it seems to you that you got this job and this post because you were in the right place at the right time, this is only a small part of the truth.
Treat the lucky syndrome by mentally listing the facts of your biography. Remember how many years of study and work you have behind you. How carefully you have prepared and in competition with how many people you have defeated to perform brilliantly and win the desired position in the company where you work. To be promoted, you not only had the necessary qualifications, but also accepted challenges, were brave and tirelessly pursued your ambitions. "In the right place at the right time" is not an element of chance, but the result of purposeful movement.
A sign that you are suffering from the lucky syndrome is that you do not like to talk about your achievements or are shy to hear about them from other people. Bragging is unpleasant, but excessive modesty does not help success. Your discomfort when receiving recognition and compliments is due to an insidious inner voice that whispers to you that you do not deserve them. His whispers have nothing to do with reality - with the achievement itself and with whether it deserves praise. It is due to the way you perceive yourself.
The personal self-assessment of many people does not correspond to reality. It's human. With the luck syndrome, the discrepancy is in that option - to underestimate yourself, which is less unpleasant for others than overestimation and narcissism. But it's not good for you to have no self-confidence when you deserve it.
Again, remember how much effort is behind your achievements. Congratulate yourself on your success, let others congratulate you too. Rejoice in it and celebrate it. Feel special. Don't tell yourself or others, "I'm sure anyone could handle it." This is how you demean what has been achieved. And if you belittle it, don't expect your colleagues and boss to admire it.
Perhaps this modesty was instilled in you by your parents, but it is not productive. When you feel yourself starting to think "it's a matter of luck", focus all your attention on the fact that you gave your best by going through the details of what you did and what it cost you. That's how you'll prove to yourself that it wasn't just luck.
When you purposefully fight the lucky syndrome, you will not fall victim to this dangerous disease. You will get to know yourself, understand how far the limits of your abilities extend, and learn to believe in yourself, create and manage a mental impulse that will help you succeed in everything.
It has been scientifically proven that the human brain responds better to success than to failure. "According to recent studies in neuroscience, nothing makes us more successful than the frequent feeling of having achieved success. Then the brain rewards us for experiencing pleasure by increasing the level of the hormone dopamine. Some people even become addicted to this pleasure and become dependent on the achievement of success. The more we succeed, the longer our brain retains the necessary information, which in turn helps us succeed again," explain scientists from the Massachusetts Institute of Technology and Harvard University.
Therefore, it is much more productive to try to feel the success, and not only and not so much to learn from your mistakes, as the popular maxim states. Banish any syndromes and reward yourself with instant gratification. It is like money in the bank - it creates a sense of security. Which, combined with luck, is a whole lot of capital.
11.09.2024
WHY REFUSAL FROM SICK LEAVE IS NOT POSSIBLE
In Bulgaria, leave for temporary incapacity for work, known as "sick leave", is an important part of the social protection of workers. But what happens when the worker refuses to accept sick leave?
In this case, the law is categorical - refusal is not possible. There are clear procedures and consequences that serve to guarantee the rights and health of the worker.
In cases where the personal physician, after examinations and diagnostics, finds a state of incapacity for work, the worker is obliged to accept the issued sick leave. This sheet is a key element in providing the necessary social support and restoring the worker's health.
In the case of a refusal to accept a sick leave by the worker, the medical team or the Medical Advisory Committee (MAC) must react quickly and decisively. Regardless of the reason for the refusal, this does not change the obligation to issue the document that confirms the state of health.
In case of refusal by the employee, the sick leave is issued ex officio and sent directly to the employer where the employee is insured. This mechanism was put in place to ensure that social support is accessible and reaches those who are entitled to it without hindrance.
Under a change in legislation that came into force at the beginning of this year, the first two days of the hospital period provide an interesting aspect from a financial point of view. During this period (the first two days), the worker receives only 70% of the average daily gross remuneration for the month in which the temporary incapacity occurred.
Take, for example, an employee in an information technology company. Due to an unexpected health condition, he is forced to take sick leave. During this period, he receives 70% of the average daily gross remuneration for the first two days. Although his salary for this month is lower, this financial trade-off is unavoidable when it comes to guaranteeing the necessary time off to recover.
It is important to note that the worker must meet the requirement of having acquired at least six months of insurance service in order to be entitled to cash compensation. If the required experience is missing, the person is not entitled to such compensation.
After the first two days have passed, sick leave payments for the following days are at the expense of the National Social Security Institute and are calculated as part of the employee's salary. It is important to make a distinction here:
- For a general illness, compensation is received in the amount of 80% of the average daily gross remuneration or the average daily insurance income.
- For an occupational accident and occupational disease, compensation is provided in the amount of 90% of the average daily gross remuneration or the average daily insurance income.
These rates provide greater social support in the event of an occupational accident or occupational disease, where recovery may require a greater amount of leave and resources.
The sick leave in Bulgaria is a legally regulated and mandatory procedure that aims to protect the health and rights of workers. Regardless of the financial trade-offs that may occur, the system provides the necessary support for those who are temporarily incapacitated.
09.09.2024
WHY PEOPLE CAN'T FIND WORK
More than half of the unemployed in our country have no professional qualification. This is indicated by the data of the Employment Agency. Their number has increased by 8% compared to the first six months of last year.
The number of unemployed people in Bulgaria is over 152,000, and over 87,000 of them are not professionally qualified. "The causes of unemployment are complex. First of all, of course, the economic situation in the country has an impact", explains the Deputy Director of the Employment Agency, Gabriela Dimcheva.
Among the reasons are discrepancies in people's skills with those expected by the business. "Other processes that affect unemployment are the regional differences and sometimes the discrepancy between the skills that those registered in the labor offices have and the business's need for certain skills," adds Dimcheva.
According to experts, having digital skills is an absolute must nowadays. Employers say that there are always job positions, but there are not enough willing people, and without a professional qualification, the situation for business becomes more and more difficult, since training takes time.
Young people are in last place in terms of unemployment. The least are those under the age of 24. According to data from the Employment Agency, people under the age of 24 make up only 5% of the total number of unemployed. In first place is the group between 30 and 44 years old. They number 33%. In second place are those over 55 - 29%. The unemployed between 45 and 54 years old are 27 percent, and those between 25 and 29 years old - 6%.
Lack of experience often prevents young people from finding work. 45% of the registered unemployed have primary or lower education. 41% have secondary education and 14% - with higher education. There are people with professional qualifications and higher education who, however, work in a completely different field.
05.09.2024
SELF-LOVE IS NOT A DIRTY WORD IT HELPS YOU SUCCESS AT WORK
"He is selfish" sounds like a social judgment. But people who don't love themselves usually have a medical diagnosis. Therefore, psychologists claim that self-love is an important aspect of self-esteem and is one of the best means of personal improvement.
The question is how selfish a person is and how he manages to combine his interests with the interests of his colleagues and the company in which he works. This is an important skill because in almost every business, effectiveness is achieved as a team.
However, being a good team player does not mean completely abandoning your self-love and even selfishness. Very often the best decision for you personally is also the best for everyone. That's according to Paul Stillman, a psychology researcher at Ohio State University.
Imagine that you are a programmer who is charged with the responsibility of urgently completing a significant project. A colleague has a problem with his computer and asks you to look at it. You'll come off as a helpful person if you quit your job and fix his computer. But this is not good for you personally or for the company because you will waste time that you should devote to the important and urgent project. Its completion will benefit everyone. However, the cost of refusing is that your colleague will think of you as a selfish and self-righteous bastard who does not help his fellow man.
According to Stillman, there is a way in all such cases to make the decision that brings the greatest benefits to both you and the entire group without fear of negative social commentary.
"Key to finding the right approach is paying attention to the bigger picture. When you see the bigger picture, you can more easily assess what the consequences of your decision will be and find the best way to allocate resources. In some cases, the best investment of these resources is in yourself," explains the psychologist.
The ability to cooperate, to cooperate with your colleagues, is a valuable and necessary quality. But when you subordinate your self-love to him alone, it will negatively affect your career. Focusing too much on consensus building and being overly concerned with other people's opinions can harm your ability to defend your personal position and gain recognition for your skills.
"When we are too subject to the evaluations of others, too humble to defend our own point of view, too weak-willed to confront something with which we disagree, we become insecure, servile, ineffective people and build enormous obstacles to your career," points out Shefali Reyna, professional development specialist.
Suppressing healthy self-love, giving up your own interests, putting too much emphasis on the opinion of your colleagues will harm you, so you should learn to avoid the trap of excessive cooperation, experts recommend.
Their first piece of advice is to learn to say no. Say no to the boss who wants to burden you with more commitments than you can handle. Say no to the colleague who wastes your time, either because he asks you for help or because he shamelessly delegates his duties to you.
Even though you work as a team, don't neglect your individual responsibilities and agenda. This is not self-love, but common sense.
Don't worry about someone thinking you're selfish. After all, when everyone conscientiously takes care of their individual work, the team cannot suffer - after all, it is distributed who does what. As a programmer, your duties probably include fixing your colleague's computer. He calls you, not the person he needs, because it's easier for him. Say no by looking at the big picture.
Self-love also means accepting that not everyone can love you and agree with you. Every team has people who are users. Or they are actually narcissists who think that everyone owes them and should look out for their interests. These colleagues can't love you when you look at your own interests and the big picture. You just shouldn't care that they don't like you.
You should not dwell on the desire for consensus either. Often, in an effort to be team players, people suppress their self-love and pay too much attention to others. "When we're too committed to teamwork, we want everyone to agree on a decision before we move forward," Reyna says. which won't appeal to everyone. Compromise is also a quality every team player should possess."
Although "team" is a magic word in business and individualists are considered dinosaurs, experts advise showing a healthy dose of self-love when choosing what to work on. Finding a balance between team and individual projects is ideal for your career development. You need tasks that will allow you to reveal your qualities and get personal recognition. Therefore, do not hesitate to be the first to take the initiative and ask for a project that will allow you to do this. Maybe your co-worker wants it too, but show some self-love and get competitive. He wants it for the same purpose - to get recognition. Your interest is no worse than his.
By the way, if you have the opportunity to choose, do not participate in projects in which you will not show enough. In other words, avoid "dirty work" that takes a lot of energy but does not develop you professionally. Every company has one, and someone has to do it, but make sure it's not you, or at least not very often.
It's also healthy self-love to strategically choose your teammates. When you collaborate with the right people, you will maximize the benefits for yourself. Good projects are those where there is a potential benefit for all involved when they end successfully. Personally, it will be a dividend for you to work with colleagues from whom you can learn something, improve your skills, expand your professional contacts.
04.09.2024
DON'T IGNORE USING SICK LEAVE
In today's fast-paced business world, where we work hard, we sometimes forget about the important role of vacation for our health and well-being.
Ignoring sick leave granted by a doctor or other professional can have serious consequences for our physical and mental state. What are the features of this type of temporary disability leave?
Imagine a worker who, instead of following his doctor's orders, decides to continue working in harmful conditions. Time passes and his condition worsens. Continuous exposure to stress and tension at the workplace leads to accelerated deterioration of his health. Instead of taking a few days off, this worker chooses to neglect his health, which ends up costing him long periods of treatment and recovery. Is this worth it?
In Bulgaria, the duration of sick leave depends on the specialist who issues it. A doctor or dentist can provide sick leave for a maximum of 14 days, and the total period in a calendar year must not exceed 40 days with a break.
The emergency center provides sick leaves for a period of up to 3 calendar days, and Medical Advisory Committees (MACs) can authorize leave of up to 180 calendar days and no more than 30 days at a time. TEMC carries out an examination after 180 days of continuous leave or when using 12 months of leave in two previous calendar years and in the year of illness.
All of these measures are designed to ensure that workers have enough time to recover and deal with health issues before returning to work. Ignoring the granted leave due to temporary incapacity for work can lead not only to serious health problems, but also to a loss of professional efficiency and job satisfaction.
The sick leave is issued on the day on which the temporary incapacity for work is established. It is not allowed to issue a sick leave in which the date of commencement of sick leave is later than the date of its issue.
An exception is allowed only in cases where the temporary inability to work was established on the day the person was at work, regardless of the hours worked, or after the expiration of his working hours. In these cases, the leave given for temporary incapacity for work (sick leave) necessarily starts from the next calendar day, regardless of whether it may be non-working for the person.
An exception is also allowed in cases where the sick leave is a continuation. In these cases, the leave given for temporary incapacity for work begins compulsorily from the day on which the person should have reported to work according to the preceding sick leave, regardless of whether it may be non-working for the person.
Maintaining a balance between professional and personal obligations, including the use of sick leave, is essential to the long-term success and well-being of the worker. The appeal is to all of us to take care of our health and take advantage of the leave opportunities that have been created to maintain our health.
03.09.2024
HOW PEOPLE WITH DISABILITIES CAN RECEIVE ASSISTANCE FROM THE NATIONAL HEALTH INSURANCE FUND
Who is entitled to receive assistance from the National Health Insurance Fund? The Health Insurance Fund provides answers to this question.
People with disabilities are entitled to such funds, with a valid protocol from the Medical Advisory Commission/Territorial Expert Medical Commission/National Expert Medical Commission.
What are the steps if you are a person with a disability and need an aid, device, facility or medical device:
To visit a Medical Advisory Commission/Territorial Expert Medical Commission/National Expert Medical Commission, from where you will be issued an electronic protocol/decision to prescribe an aid, device, facility or medical device;
Expert committees of the National Health Insurance Fund/Regional Health Insurance Fund will review your electronic application and issue an approval or reasoned refusal to grant your pre-approved aid, device, facility or medical device; the deadline is 7 days from the receipt of the application. Each approval will contain details of you and, where applicable, of your authorized person (where the application is submitted by them). The approval will have a registration number and date of issue. It will include aids, devices, equipment or medical devices with the corresponding codes in the National Health Insurance Fund;
You or the person authorized by you will be informed about the approval or the reasoned refusal by a written message to the e-mail indicated by you and/or by telephone. You do not need to visit an office of the Regional Health Insurance Fund;
You can get your aid, device, facility or medical device from any retailer that has a contract with the Regional Health Insurance Fund, without territorial limitation - that is, wherever it is convenient for you in the territory of the country. For this purpose, you must identify yourself to the trader you have chosen by means of an identifier - PIN, names, number and date of approval for the provision of an aid, device, facility or medical device.
What should you do if your aid, device, facility or medical device needs repair?
You or a person authorized by you must submit an application for repair work (according to the model) to the director of the Regional Health Insurance Fund. You can also send the application by certified mail (return receipt requested) via a licensed postal operator;
An expert committee at the Regional Health Insurance Fund examines and approves the applications;
The Director of the Regional Health Insurance Fund issues an approval for the repair of an aid, device, facility or medical device or a reasoned refusal. A reasoned refusal is issued in case of non-compliance with the conditions specified in the list-specification of aids, devices, equipment or medical devices and is sent with a cover letter to the specified address of the applicant;
All retailers who have a contract with the Regional Health Insurance Fund are obliged to provide repair work for aids, devices, equipment or medical devices. For this purpose, you or a person authorized by you, must identify yourself to the merchant of your choice by means of an identifier - PIN, names, number and date of approval for granting an aid, device, facility or medical device. According to set criteria, the merchant notes the provided repair activity in the specialized software product.
You should also know:
Applications for the grant of an aid, device, facility or medical device with a total value of up to BGN 1,000 are considered by the relevant Regional Health Insurance Fund at a permanent or current address.
Applications for the granting of an aid, device, facility or medical device with a total value equal to or greater than BGN 1,000 are considered by the Central Office of the National Health Insurance Fund.
The prescription of an aid, device, facility or medical device is carried out according to the specification of the National Health Insurance Fund with a code, without specifying specific trade names or companies.
It is possible to submit applications for the grant of an aid, device, facility or medical device on paper to the Regional Health Insurance Fund only when the application cannot be submitted electronically by the Medical Advisory Commission/Territorial Expert Medical Commission/National Expert Medical Commission due to technical reasons.
Who to contact if you need information:
The list of experts from the Regional Health Insurance Fund, who are contact persons and submit information to the National Health Insurance Fund about problems or cases that have arisen, can be found on the website of the National Health Insurance Fund www.nhif.bg, under the heading "Resources".
The National Health Insurance Fund, together with "Information Service" JSC, is working on the implementation of a technological possibility that will allow people with disabilities who have applied for the granting of aids, devices, equipment and medical devices to be notified of the decision made via SMS and Viber messages.
29.08.2024
CONCRETE STEPS TO BE RECOGNIZED AS AN AUTHORITY AT WORK
And for some it seems like magic - they start a new job or find themselves at a party with strangers and in no time become the center of the company. They are not bosses, they are not the smartest, the strongest, the most beautiful, but they become leaders without knowing how they do it.
Psychologists admit that this requires a certain amount of innate talent. But personal development experts say you can also learn leadership skills. You must have the drive, desire and willingness to put in the effort.
You don't have to be a boss to be a team leader. But if your colleagues see you as an authority figure, it's likely that bigger bosses will soon offer you a higher position.
Don't believe the myth that you need a job. If you're waiting to find yourself in a place or position that will push you into leadership responsibilities, you may be waiting a long time. Leadership isn't something that happens to you, it's something you do, experts say.
They think you will find out if you can become first the informal center of the team and then get a managerial position by checking your attitudes.
There are two foundations on which you will build leadership qualities.
The first is to have a desire to help people be better at what they do. It is your inner motivation that will attract your colleagues. If this basic attitude of self-giving doesn't exist, no matter how hard you try to improve your personal skills, you won't get others to recognize you as the center of the team.
Most people are capable as professionals, but their ambitions are tied to their own advancement. Few are those who think beyond themselves, about the whole, about creating a work atmosphere that leads to success. And this is precisely the initially necessary quality of a leader.
Is it missing, a person can become a chief, but by position. He will order, his subordinates will perform, but they will not consider him a leader, because he does not help them become better at what they do, but manages them.
The second foundation of leadership is trust. It is created with integrity.
It doesn't matter what you do and what position you are in. If your attitude is to consider not only your interests, but also your colleagues, to be responsible, to fulfill your promises, to show respect and empathy, you have a chance to win their trust.
Misanthropes (people who don't love their neighbors), egoists, and those who tend to cheat at the expense of others cannot be recognized as leaders, no matter how many leadership techniques they study.
If you think about your past experience as a working person, you will see the difference between a leader and a boss. You must have been bossed around. You may have had a colleague who you and everyone else saw as an informal leader. It is less likely that you have had a superior who you felt was a real leader, not just an appointee.
This is because of the two basic attitudes in question that many people think they have, but in practice it turns out not to be true. And because of another thing, which, however, is more of an innate quality.
Experts say that leadership skills can be learned by building on self-giving and integrity, but intuition helps immensely. It is precisely because of her that some people seem to have the talent of leaders.
Born leaders are situational sensors, as experts Rob Goffey and Gareth Jones call them. They can collect and interpret the information from the environment in the right way, recognize details and signals, read the non-verbal signs that others leave in order to choose the right moment and the best course of action.
This is called intuition, and in born leaders it is stronger than in others.
However, if you think you don't, don't assume you'll never become a leader. Intuition is not just a sixth sense, it develops with experience. And again, you have to use it properly - not only in your own interest.
Therefore, experts say that it is important, but not basic. Those two attitudes remain fundamental - helping others become better at what they do and building trust with your integrity.
--- What to do to get recognized ---
To be accepted as a leader, you must change your mindset.
Recognize the qualities and strengths that lie within you, give yourself the confidence that you can manifest them. If you don't show them, your colleagues won't recognize them.
It's understandable - humans are social animals. Everyone tends to stick to the herd way of thinking and behaving, afraid to shake established norms and hierarchies in order to stand out from the rest, because there is a risk that this will also lead to his being ostracized from the herd. But a characteristic of a leader is that he is also willing to take risks. No one becomes a leader by following the crowd.
However, you can't listen to everyone's advice, it's a waste of time. To be a leader, you have to learn who to listen to and who to ignore. You must learn and balance between steadfastness in defending what you firmly believe to be right, and wisdom in accepting other people's suggestions, which you judge to be the best.
Constructive criticism is at the heart of being a leader. You remember that the one basic condition is that you want to help them get better at what they do. In practice, it means helping them see their mistakes and rethink their approach. If you're a bossy leader, employees need feedback even more to know exactly what they're doing well and what they're not doing so well.
Feedback is a valuable guidance and success tool that reinforces your position as a leader.
This goes into the second basic condition of leadership - integrity and trust. It builds a deeper connection between you and others.
It is the leader who sets the direction and pace. It's even more mandatory if you're also a boss.
It's human to lose your temper when someone makes you angry. But anger, hysteria, screams are not distinctive features of a leader. Learn to control your emotions and try to think carefully about your words before you speak them.
28.08.2024
IDEAS FOR ADDITIONAL PASSIVE INCOME
Do you dream of higher incomes, more flexible working hours or even early retirement? If you start thinking outside of the 9 to 5 box, you'll be able to work less, have more time for family, and more money for the things you love.
No, you don't need to look for a higher paying or second job, but to build a passive income system. Passive income will provide you with a better standard of living and give you financial peace of mind for the future. The best part is that there are a variety of ways to earn passive income suitable for everyone.
What is passive income?
Passive income is a way to regularly earn secure money with minimal effort. Note that we didn't say "any" effort. Providing passive income isn't a quick job where you can make money while you're "kicking your feet." You will have to put in the effort – at least at first. So if you're expecting passive income to get you rich quick, you're going to be disappointed.
Some passive income ideas – like creating a blog or mobile app – take time (and sometimes money) to start working for you. But if you play your cards right, they can end up earning you even while you sleep.
What are the benefits of passive income?
Your salary is the surest way to achieve financial security – however, this tool usually requires you to work at least five days a week. Even if you love your job, you probably wouldn't mind earning extra income without a lot of effort and time involved in another job.
A well-built passive income will help you grow your wealth and protect you from complete loss of income if something unforeseen happens with your main job. If you're one of those people who dreams of early retirement, passive income will help you achieve it. And when you retire, you'll have that extra source of steady income.
How to build passive income?
If we were to list all the ways you can build passive income, we would have to write a novel. The possibilities are literally endless. So we've narrowed the list down to the most preferred options:
One way to build passive income (with money saved and no debt) is to buy real estate and rent it out. But before you jump into buying a home, first pay off your own home and buy your investment property with available cash. Never go into debt to buy a rental property.
Rent is a great source of extra income, but it's not technically passive income. You need to market it and keep up with maintenance and cosmetic improvements if you want it to become a source of income. It takes time and effort to decide how you will rent the property and how to manage it – unless you hire a property management company, but that would mean less income for you.
If you decide that this option is right for you, we advise you to buy a property in a place where it is convenient for you to visit it so that you can observe it in person. Find a realtor who knows the chosen area well and knows what would be attractive to tenants.
If you still have debt to pay off or can't afford to buy an entire rental property, consider offering a spare room. Having a roommate or Airbnb guest is a great way to add extra funds to your budget—if you don't mind sacrificing a little privacy.
Before you choose Airbnb, there are a few things you should pay attention to. First, checking guests in and out and cleaning the room between check-ins can become a second job, especially if several people rent your room a month. In addition, you must be able to absorb additional maintenance and replacement costs for depreciated items and appliances.
You may also need to add additional coverage to your existing home insurance policy or take out an entirely new type of insurance, which can be costly. So you should discuss the matter with your insurance agent before listing your spare room on Airbnb.
People have a lot of belongings and those who don't have enough space are looking for cheap ways to store them. If you have spare space in the basement, garage or yard, what could be easier than having people pay you to store their stuff? You will just need to make sure that their items are safe and secure.
These are services through which you can derive financial benefit from your indoor or outdoor free space. Your profit depends on your ability to find the right customers and negotiate a fair rent. Even if the profit doesn't seem like much to you, the amount accumulates over time.
If you have a barn, garage, or even just a carport, you can store vehicles, boats, campers, and other expensive "toys." Their owners are willing to pay more to keep their valuables safe and protected from the elements. This is a wonderful way to earn passive income with almost no effort.
Do you have items you don't use all the time that others would like to borrow? Things like a trailer, trampoline, kayak, or even a car, truck, boat, camper can bring you a decent amount of money.
If you have additional sports equipment, bicycles, surfboards, skis - you can advertise them for rent. The same goes for a variety of tools and machines such as a chainsaw, lawnmower, drill, etc. that you rarely use. All you need to do is upload photos of your items to a suitable online platform and set the desired price.
Check out the sites and social media to get a real idea of how the prices and terms are going for this activity. Just be sure to set the appropriate requirements so that you don't end up with broken appliances and tools that you have to buy out of your own pocket.
If you have an interesting hobby, a specific profession, or a brilliant idea that appeals to a specific audience, you can create an educational blog or a useful YouTube video series that does not require constant new material to generate online traffic.
If your content is engaging and gets enough daily traffic, you can sell ad space on your blog or ad spots on your channel. After a certain amount of hard work, you can sit back, relax and enjoy the cash flow for everyone who views your content.
Keep in mind that some forms of passive income are less passive or require more work than others. There is a lot of competition in the digital space and although you don't need to spend thousands on advertising to get attention, you need to update your content regularly (new videos or posts) to keep getting noticed.
Create a blog, website, YouTube channel or podcast on a topic you understand and are interested in. Useful and quality content, whether educational or entertaining, has the potential to attract an audience that can be monetized through advertising, sponsorships or the sale of proprietary products.
If you're an expert in a field, share your knowledge with the world by creating short ebooks, a digital manual, an app, or online courses. Such products are sold online and can generate passive income long after they are launched.
You can also sell something that incorporates your creative skills. For example, if you are a good photographer or illustrator, sell stock photos on various sites. If you're into music production, license your tunes and sell them to YouTubers and podcasters to use them for their content. Each new download or purchase of rights generates additional income.
Have you ever bought something really cool and told your friends, family, coworkers, and even the cashier at the store about it? You think you should be paid for all this advertising. Well, you're right - it's called affiliate marketing.
In affiliate marketing, a company pays you to praise their products publicly. If you're active on social media, you've probably seen hundreds of people do this, posting a special link or discount code under a photo of themselves using a certain product. For this, the company must have an affiliate marketing program that you can apply to become a part of.
Explore other options such as dropshipping for example. Dropshipping is an order fulfillment method that does not require you to keep products in stock. Instead, the store sells the product and passes the sales order to a supplier, who then ships the requested product. This business model can generate income while you are engaged in other aspects of life.
Many investors aim to get passive income from their investments and dividend stocks may be a good solution for their investment portfolio. By paying dividends, investors receive additional income beyond the potential increase in the price of purchased company shares.
Most people associate real estate investing with the physical purchase of a property. However, there are other opportunities to take advantage of the real estate market. In the stock markets, you have access to several different assets that you can choose from to gain exposure to today's real estate market.
The first opportunity to invest in real estate through the stock markets is the shares of real estate companies. The other option is real estate investment trusts - real estate exchange traded funds and real estate investment trusts (REITs). Familiarize yourself with the specifics of each asset before choosing.
Discover the potential of alternative energy sources - solar panels, wind turbines or hydroelectric plants.
Investing in renewable energy projects can not only contribute to the protection of the environment, but also represents an opportunity for stable and passive income. Such projects usually generate revenue from selling the energy produced or participating in green certificate programs.
With the growing awareness of environmental challenges, investment in this sector appears not only as a financial opportunity, but also as a step towards a sustainable future. More and more public chatter is turning to sustainable practices and so the demand for green energy is growing, making it a potentially profitable and environmentally conscious investment.
Artificial intelligence (AI) facilitates our daily lives through automation and supports decision-making in business and medicine. Technology provides new opportunities and increases efficiency in various areas, such as forecasting trends and solving complex problems. AI is expected to greatly impact both the global economy and our lives.
Explore the opportunity to invest in companies that are involved in the development of robots and artificial intelligence. This sector is growing rapidly and investments in companies that offer automated solutions and innovations in robotics can provide a non-standard and growing source of passive income.
Industries related to automation, machine learning and artificial intelligence technologies continue to evolve. Pay attention to companies involved in the development of autonomous systems, intelligent software and high-tech applications in robotics.
Here's how to get started
The list of passive income ideas can really be endless. The choice very much depends on your personal talents, interests and skills. As you search for the best way for you, start asking yourself the following questions:
- Are other people making good money doing this?
- Which passive income strategy is best for me?
- Does this idea show profitable results in the long run?
- How long will it actually take for me to actually start earning?
Don't fall for passive income ideas that promise quick returns or require a huge initial investment. Activities that require too much time and money cannot be considered passive and could end up sabotaging your financial goals. Look for options that are stable, profitable and reliable. So do your research thoroughly.
How much can I earn with passive income?
How much you can earn depends on how much work you are willing to put in. As already mentioned, passive income does not mean earning without any effort. You must maintain the things you rent. You have to write the book or shoot the video. You need to create a unique garment that people want to buy. Passive income takes work!
A passive income source will not make you rich overnight, so forget about any get-rich-quick schemes. But stable and profitable passive income options can bring you good money in the long run. The amount of your profit largely depends on which option you choose and how hard you work on it.
27.08.2024
THERE ARE THREE LEGAL WAYS TO WORK ABROAD
During the summer season, the cases of defrauded Bulgarian citizens who were promised jobs in Sweden and Canada have become more frequent, reports the General Labor Inspectorate.
Unemployed people, mostly of low social and educational status, arrive in Sweden at the invitation of friends or on the Internet with promises of work in construction or picking berries for unrealistically high wages. Arriving in the Scandinavian country, they are forced to work in extremely harsh conditions with very little or no pay.
The General Labor Inspectorate reminds jobseekers abroad that no matter how they leave Bulgaria, they must leave Bulgaria with a written document with agreed terms of work and pay, working hours, vacations, etc.
A sure sign of a scam is asking for various types of placement fees that shouldn't be collected.
"Don't trust ads, especially on social networks," warned Vanya Dzhupanova, an expert at the General Labor Inspectorate. Let's recall the legal ways to work abroad:
- Through an intermediary;
- Through an enterprise that provides temporary work;
- By secondment within the scope of service provision.
When hired by a foreign employer, the General Labor Inspectorate has no right to carry out inspections abroad. Then the employees can only report to the authorities in the respective country.
The licensed intermediaries, as well as the enterprises providing temporary work, are published on the website of the Inspection.
For Bulgarians working abroad, the General Labor Inspectorate maintains a special telephone number where they can seek advice and assistance during working hours: 0035928101747.
