ResidentialBusiness

Vix ‘fear gauge’ leaps to highest since April as US futures fall with European indicesView the full article

It’s not always fun to look your finances in the eye, but it can unlock a rewarding path forward. These five books make tackling personal finance approachable, clear, and—dare we say it—an enjoyable journey. Rule Breaker Investing: How to Pick the Best Stocks of the Future and Build Lasting Wealth By David Gardner The real secret to building lasting wealth on the stock market is breaking the old investing rules. In Rule Breaker Investing, Motley Fool cofounder David Gardner teaches how to craft a purpose-driven portfolio, manage investments, and even master time management for a smarter, happier, richer investment journey. Listen to our Book Bite summary, read by author David Gardner, in the Next Big Idea App or view on Amazon. The Almanack of Naval Ravikant: A Guide to Wealth and Happiness By Eric Jorgenson Naval Ravikant is a legendary investor, entrepreneur, and founder in Silicon Valley. Beyond his business acumen, he is known for the distilled wisdom that he shares on living a rich and meaningful life. The Almanack of Naval Ravikant compiles his most powerful ideas about achieving wealth and happiness. Listen to our Book Bite summary, read by author Eric Jorgenson, in the Next Big Idea App or view on Amazon. All the Presidents’ Money: How the Men Who Governed America Governed Their Money By Megan Gorman The money dramas that plague us today are tales as old as time. We share all the same personal financial issues of the present with Americans of the past—including presidents. History is filled with relatable stories of money management (and mismanagement). How do your wealth-building skills compare to those of our nation’s presidents? Listen to our Book Bite summary, read by author Megan Gorman, in the Next Big Idea App or view on Amazon. Robin Hood Math: Take Control of the Algorithms That Run Your Life By Noah Giansiracusa Robin Hood Math is a guide to navigating the algorithmic world we inhabit today. By understanding the numbers games influencing our experiences and opportunities, we can better resist their undue influence in shaping our lives. Math is a tool for empowerment. Listen to our Book Bite summary, read by author Noah Giansiracusa, in the Next Big Idea App or view on Amazon. The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life By Nick Maggiulli The optimal wealth strategy varies based on your financial starting point. Depending on where you sit on the Wealth Ladder, the best approach to getting more money shifts. It’s not necessarily about hard work but rather picking the correct place to focus your time and energy based on your current situation. Listen to our Book Bite summary, read by author Nick Maggiulli, in the Next Big Idea App or view on Amazon. This article originally appeared in Next Big Idea Club magazine and is reprinted with permission. View the full article

When I first ventured into self-employment a few years ago, I received a lot of advice from fellow freelance writers: Know your worth. Don’t take low-paying work. The advice was valid, as too much low-paying work is a recipe for burnout. But to the newly self-employed, I would say: Know your worth. And also, there are very valid reasons to take low-paying work, if it can help launch your business. You can open the right doors without selling yourself short. The project is good for your portfolio Potential clients will expect “proof” that your work is good—especially if it’s the type of work that can be displayed in a portfolio (design, video, writing, or other creative work). Portfolios don’t grow overnight. One good client at a lower rate will lead to a better client who pays more. Even now, several years into freelance writing, I’ll still take projects below my normal rate if I think the work will be a standout in my portfolio. The payoff comes when clients approach me and say, “I saw your work for XYZ company—I love that publication!” Sometimes projects can earn you far more in the long run than your short-term payout. The project will connect you with important people Some of my best clients are referrals, even when the original project was low-paying, boring, or short-term. I’ve even had clients rehire me when they move on to their next gig. You’ll quickly learn which people in your industry are “movers and shakers.” By working with them, you could get a glowing recommendation or countless referrals. You can also say yes to speaking on panels, podcast appearances, and writing guest posts for publications if you feel like the work will get you in front of the right audience or make good industry connections. These are often a much lower lift than a full-blown paid project and can have a similar impact. You can learn new skills If you need it, here’s your permission to say “yes” to a project that’s slightly outside of your skill set. Slightly being the operative word. You need to be confident that you can meet the client’s expectations. But it’s also an opportunity to try something new and get paid for the work. Don’t ever, ever overpromise and under-deliver. However, sometimes the only way to gain new skills as a solo business owner is to take on the work, wow the client, and get the project into your portfolio so you can take on future projects that require the same skill set. It’s OK to say “no” For many self-employed people, money is a primary factor in accepting projects. But just like there are valid reasons beyond money to take on new work, there are also valid reasons for declining work—even if the money is good. Bad clients can cost you. They can absorb too much of your time and mental energy. You may also reach a point in your business where you don’t need the money, even if you have the bandwidth. One of the best things about running your own business is that you get to make those decisions. When you work for an employer, you’re forced onto projects or stuck with colleagues you’d rather avoid. Self-employment is different. Taking on clients is a business decision—and you should get comfortable basing your decisions on factors other than money. View the full article

Tell me: Do things like this ever happen to you? You have clarity of purpose. You know what you need. You walk into another room to get it. Then, distraction hits, and you forget entirely what prompted you. Or else, you search the house for your car keys or your glasses, or your wallet. A good 10 minutes later, you realize they’ve been with you the whole time. You sit down to write an article about an intriguing study having to do with memory—if only you could remember what it was. Yes, these are highly personal anecdotes. But like all the best stories, I hope they’re simply the unique expression of universal truths. Perhaps second only to the fear of death itself, the one thing I’ve heard business leaders admit that they fear most is the idea of losing their memory. And that’s why I’ve latched on with gusto to a recent study out of Harvard University, among other institutions, that suggests a simple, straightforward way to improve cognitive health. A Mediterranean-style diet Writing in the journal Nature Medicine, researchers from Mass General Brigham, the Broad Institute of MIT, and yes, Harvard T.H. Chan School of Public Health, say that making a simple dietary change can “influence key metabolic pathways that protect memory and cognitive function.” The strategy: Make a conscious change to switch to a Mediterranean-style diet. More on the nose, according to a summary: “People following a more Mediterranean-style diet had a lower risk of developing dementia and showed slower cognitive decline.” They’re not the first to tout the benefits of this diet; heck, I’ve written about other studies here before. But this team analyzed data from two studies, including a total of 5,705 men and women from two longitudinal studies: the Nurses’ Health Study, followed by the Health Professionals Follow-Up Study. And, by studying three factors: “long-term dietary patterns,” “participant’s inherited risk for Alzheimer’s disease,” and the incidence of “new cases of dementia,” they were able to make some striking conclusions. ‘Help reduce the risk’ According to the study’s first author, Yuxi Liu, PhD, a research fellow in the Department of Medicine at Brigham and Women’s Hospital, a founding member of the Mass General Brigham healthcare system, and a postdoctoral fellow at the Harvard Chan School and Broad: “These findings suggest that dietary strategies, specifically the Mediterranean diet, could help reduce the risk of cognitive decline and stave off dementia by broadly influencing key metabolic pathways.” Before I forget (ironic, right?) we should ensure that we’ve established what a Mediterranean-style diet actually entails. It includes a few factors: First, the primary fat source is olive oil, as opposed to higher saturated fats that are sometimes seen in Western diets. Second, whole grains. Lots of them. Plus, vegetables and fruits—probably four servings per day. Third, lean proteins. Think fish, chicken, turkey, and eggs. Fourth: Very limited red meat intake. Finally, lots of fiber from a variety of plant sources. My favorite kind of study Honestly, this makes it fall into the category of “frankly quite pleasurable things I might do anyway, even without the study.” Which therefore makes it my favorite kind of study. Short version? Do something I’d normally do almost without prompting, and get an unexpected benefit? I’m on board with that. Barely even need a reminder. —Bill Murphy Jr. This article originally appeared on Fast Company‘s sister publication, Inc. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy. View the full article

UK 10-year government borrowing costs see biggest weekly fall since AprilView the full article

I just got back from SaaStock Europe and one talk stuck with me: Manny Medina (CEO of Paid) dropped a provocative idea: "Half the workforce will be agents in five years." Hm. Sounds a bit abrasive to me. But it could be directionally correct. AI agents are reshaping how work gets done, and that means SaaS pricing needs to change. Here’s the gist of his argument, why it matters, and what to do about it. Per-Seat Pricing Is Getting OldThe classic SaaS model—charging per user—made sense when software was just a tool for humans. But now? AI agents don’t need seats. They just get things done. Problem: If your pricing is tied to human users, but AI is doing the work, you’re leaving money on the table (or worse, annoying customers with irrelevant seat counts).Reality: Customers don’t care about seats. They care about results.Manny’s take: "Don’t sell software. Own outcomes." If your product helps a customer resolve 1,000 support tickets a month, why charge for seats? Charge for resolved tickets. Example: Help Scout now prices based on "contacts helped"—not seats. A "contact" is anyone who gets a reply (from a human or AI). No per-seat fees, no AI usage fees. Just pay for actual help delivered. This isn’t just enterprise talk. Even smaller teams are getting used to buying outcomes, not access. OpenAI trained the market to buy tokens, not users. Now, everyone expects flexibility. Outcome-Based Pricing: How It WorksInstead of: One-off price ($59 for a CD)Flat SaaS fee ($59/year)Per-seat SaaS ($59/year per user)Quota-based ($59 per 1M tokens)We’re moving to: Outcome-based ($59 per 100 customers helped)Why? Because customers want to pay for value, not logins. Manny’s rule of thumb: "Price before product." Figure out how to measure success first, then build pricing around it. What This Means for You1. Your Moat Isn’t Tech—It’s How You MonetizeAI is commoditizing features. The real advantage? How you price and sell. Old moat: "Our tech is better."New moat: "We charge for what you actually care about."If you can tie pricing to real business outcomes (e.g., "customers helped," "deals closed," "fraud prevented"), you can capture 25-50% of the value you create—not just the usual 10%, according to Manny. 2. Pricing Needs to Live in Your CodeNo more spreadsheets. If you’re charging for outcomes, you need real-time data on: What the AI didHow much value it deliveredWhy the customer should pay for itThis means instrumenting everything—every action, every result. If you can’t prove ROI, you can’t justify pricing. 3. Sales Teams Need to Sell Outcomes, Not FeaturesMost sales reps are trained to push seats and features. That won’t work here. Train them to talk ROI. Not "how many users?" but "how much will this save/make you?"Flexible quotes. Customers want pricing that matches their goals, not your old pricing tiers.4. Prove It or Lose ItWithout data showing real results, you’ll struggle with: Churn ("Why am I paying if it’s not working?")Upsells ("Show me it’s worth more.")Competition ("Their pricing is clearer.")If you can’t show the value, someone else will. Where to Start?Pick one outcome (e.g., "resolved tickets," "leads generated") and test pricing around it.Instrument everything. Track every action, decision, and result—so you can prove value.Train sales to sell outcomes. No more "number of users" pitches.Start small. Try it with a pilot group before overhauling everything.Final ThoughtThis isn’t about predicting the future—it’s about adapting to what’s already happening. Customers want to pay for results, not access. AI makes that possible. Manny Medina has an interesting chart on illustrating this change for legacy SaaS companies: So ask yourself: Are you selling seats, or are you selling success? Cheers, -Rodolphe View the full article

UK prime minister says police should ensure all fans can enjoy the match View the full article

“Let’s circle back when we have the bandwidth to touch base on whether we need to hop on a call to tackle the low-hanging fruit.” (If this corporate buzzword bingo sent a shiver down your spine—apologies.) In the world of professional communication, business jargon is often a necessary evil. Email clichés: love ‘em or hate ‘em, we all use ‘em. Many of us are trapped in a terminal cycle of “reaching out” and “circling back” to make sure “we’re aligned.” Recent analysis from email verification company ZeroBounce looked at more than one million real work emails to find out which overused email phrases are the most common offenders. To no one’s surprise, “reaching out” is the reigning champ with 6,117 appearances, shortly followed by follow-ups of all kinds (“to follow up,” “following up,” “will follow up”) with 5,755 mentions. Nearly 3,000 emails also started with a version of “hope”: “Hope you’re doing well,” “Hope this finds you well,” or “Hope all is well.” Other honorable mentions include “Happy Friday” (as well as the slightly less popular “Happy Monday”). “Touch base,” “hop on a call,” “bandwidth,” and “low-hanging fruit” were commonly identified by researchers.. “Language habits are some of the hardest to change,” Liviu Tanase, founder and CEO of ZeroBounce, told Fast Company. Despite nearly one in four employees now using AI to help write emails, the language hasn’t moved with the times. “Even with smart AI tools embedded in our inboxes, people still fall back on familiar phrases because they feel safe and sometimes, we don’t know what else to say.” She added: “Maybe it’s time we all ‘circle back’ to sounding human again.” Here, Gen Z is leading the charge. Young workers have no qualms including memes, emojis, slang, and abbreviations in their emails—just as they would text in a group chat with friends. Around 71% of people surveyed by the U.K. bank Barclays in 2023 said they believed Gen Z was changing the formality of language in the workplace. What worked in formal business correspondence just a decade or two ago, can be received as cold or even rude among today’s digital natives. For those looking to refresh their email etiquette, ZeroBounce offered a few easy swaps to test out in your next correspondence. Rather than penning “hope this finds you well,” you could ask, “how’s your week going?” Or open with, “Good morning – quick one.” The ubiquitous “just checking in” or “following up” can be replaced with something more direct: “What are your thoughts on the proposal?” (Many of us default to using “softer” language to our detriment, anyway.) For those looking to shake things further and take a leaf out of Gen Z’s playbook, one TikTok creator offered some suggestions to inject more mystery or foreboding in the workplace. “I hope this email finds you,” he suggests. “This kind of implies that everyone thinks you’re missing and they don’t know where you are. This is something really good to send to your remote coworkers.” Disclaimer: use at your own risk. But if you want to use a safer work email cliché, you can always just ask them to ping you. View the full article

How bad is the problem?View the full article

It’s four answers to four questions. Here we go… 1. New employee doesn’t pay attention to his training We’ve got a new guy at work: Dave. He’s still in his probation period. He’s never done this work before — he had a job which has a little overlap, but not much. I am not his manager, and haven’t worked with him much, but I have been asked to give him some training in my areas of expertise. His work so far for all of us has often been careless and has had to be repeated more times than is usual for a new starter, and he doesn’t seem to pay attention to instructions. A careful conversation with him is being planned, so that he has the chance to improve before his probation period is over. With my child, I ask for them to repeat instructions back to me to demonstrate that they actually listened to me (still doesn’t always work), but I don’t think you can do this with an adult. Do you have any suggestions about how to approach this? This week, I have taken to watching him as he starts a new task he is unfamiliar with and repeating and re-explaining the instructions he missed, which irons out many problems (and is good practice with a new hire anyway), but do we have to follow him to check he’s doing basic things correctly for the rest of his probation period, or is there a more efficient way? We’d really like to keep him on if he can become a productive team member, so we want to set him up for success. You actually can ask adults to repeat back to you what they’re taking away from a conversation, and it can sometimes be a good practice to do that — not in a condescending way, of course, but when you’re training someone or assigning a complicated project, there’s lots of room for important details to be missed or misunderstood. It can make sense to say, “To make sure we’re on the same page and so I can spot anything I didn’t explain right, will you summarize what you’re taking away from this?” But yes, it sounds like someone is going to need to at least spot-check his work until you see him retaining instructions over a sustained period of time. And yes, some of the training could including checking his work in real time as he’s doing it so you can spot mistakes and coach him on what to do differently … but at some point, well before his probation period ends, you’ll need to back off a bit and see what he does without real-time oversight or else you won’t know whether he’s going to be able to work independently or not. For what it’s worth, I’m skeptical that he’s going to turn into a good hire. Someone who doesn’t pay attention to instructions even when he’s already been making careless errors is probably not someone you want to retain unless he turns that around very quickly. The thing that’s most likely to set him up for success is to tell him very clearly what needs to change; if no one has told him he’s making too many errors and not paying enough attention to instructions, he needs to hear that very directly (since otherwise he genuinely might not realize there’s a problem he needs to solve). If he hears that and still doesn’t improve, that’s your answer. 2. Is it a red flag to be asked to name what salary you want? I’m an early career academic. I was contacted by a hiring company representing a small nonprofit related to my research area. I was previously aware of the organization and it is several decades old, but a few years back it underwent a change in leadership. They were interested in me as a candidate for a job with responsibility for basically their entire operation (after a couple years), and it would require me and my family moving to another country. The head of the organization and I talked for several months, and ideologically and skill-wise, it seems to be a good match. However, after months of talking, their first informal salary suggestion was half of what I was hoping for. (I had originally asked for a salary range up front, but they didn’t want to give one at that point.) So I’ve said that I don’t think the job is right for me, because it could not support my family (as my spouse could not work in the foreign country due to language/visa issues). Now they are asking for me to say how much salary I want. It would be wonderful to have a job with greater responsibility exactly with my area of expertise. But even if they did dramatically increase the salary to closer to what I wanted, it seems strange that I am the one that has to research the cost of living and argue over multiple (zoom) discussions that I don’t think their suggested salary is livable. It makes me not trust the organization. Is asking a candidate to (as it feels like) name my price normal in some situations? I don’t want to pass up a potentially great job, but neither do I want to risk uprooting my family (spouse and small child) to live in another country if the hiring organization is unreliable. Or maybe my salary expectations really are too high? I live in a low-cost of living country and the job is in a high-cost of living country, so it is hard for me to compare to my current life. I don’t have much real-world experience with jobs outside the academic market, so I feel like I need some reliable advice. It’s not a huge red flag to be asked to name a figure since their first offer was too low. That’s a thing that happens, especially for new positions that an organization hasn’t hired for before (or hasn’t hired for in a while, or where they just really want to hire a particular person). That said, if their initial offer was half of what you’d take, I’m pretty skeptical that this will work out. They’re unlikely to double their offer and, if they do, I’d be concerned that it will be hard to get raises in the future, or that after paying you that for a year they’ll start having second thoughts or thinking you need to do more to justify that pay rate. That might be worth risking in some situations, but I’d be extra wary when you’d be relocating to a different country and uprooting your family. If you’re going to do that, you want to feel very secure about the job. You still might as well name the salary you’re looking for — no reason not to — but you don’t need to argue for it; you can just let them know that’s what it would take, and from there it’s up to them to decide if they want to offer it. But I’d move with a lot of caution even if they do agree. 3. Employee’s schedule needs aren’t working well for the job I own a pet grooming shop. We’re a small business (five employees) and do all work by appointment, Tuesday through Saturday. I have a groomer who has young children. On multiple occasions, we have changed the schedule so she has affordable child care and can work. She just informed me at a staff meeting that she was dropping her Friday availability (when she just started picking up more appointments). She said she can’t afford the child care (mind you, she just got a raise). She worked for me for three years and does excellent work, but the constant schedule changes cost labor and time for me, as well as issues with the team. It has been extremely difficult to find another groomer and I can’t fill in. We are just starting to really gain a good reputation and fill the appointment schedule. What are my options to hold her to the hours we need? You might not be able to. If she’s decided she’s not available Fridays, then she simply might not be available Fridays. You can try talking to her to see if, together, you can figure out a way to make Fridays doable. For example, would a permanent change in her schedule on other days make it doable? Would a raise? (And yes, she just got a raise — but maybe having her stay on and work Fridays is valuable enough that you’d be willing to pay her more to do it. Or maybe it wouldn’t be. But ultimately she gets to decide what her availability is and what would make it worth it to change that, and you get to decide whether that works for you or not.) If she’s not willing to change her schedule and you can’t reach a solution together, then your options are to either accept her schedule constraints or let her know it won’t work out and part ways. The latter doesn’t sound like a good idea since she’s done excellent work for three years and you’ve had trouble finding other good hires, although if the frequent, last-minute schedule changes are making things difficult enough for you and other staff, who knows, maybe it’s the right call. But you’ve got to assess what makes sense for you and the business without hoping for “somehow I force her to work the hours I want” as a realistic option. Related: my employee wants to go part-time in summers but we really need her full-time 4. What am I supposed to wear to a job interview? Suddenly, in my 50s, I find myself looking for work again. I’d settled into a remote job I thought would carry me to retirement and gleefully gave away all my interview suits. Then, layoffs. For the past decade, I’ve worked in a company primarily populated by 20-something salesfolks who start drinking at 4 pm and wear very fashionable clothes that show bellies and yes, butt cheeks. This clearly isn’t what I’m supposed to wear for interviews (or breakfast networking events). But I don’t feel like what I grew up with (a full-on suit) is right anymore, either? Yes, this has changed! There are still industries where you’re expected to wear a suit to job interviews even if you wouldn’t be wearing a suit every day at work, so it’s smart to ask around in your field and find out what the current norms are, but there are now many, many, many fields where a suit isn’t expected. Instead people will often wear a blazer and pants (in reasonably formal but not suiting material), a nice sweater or blouse and pants, or a businessy dress without a blazer. Related: do I still need to wear a suit to a job interview? The post new employee doesn’t pay attention, what should I wear to a job interview, and more appeared first on Ask a Manager. View the full article

UK housing secretary and mayor in talks to make provisions on windows and bicycles less onerous as construction slumpsView the full article

Carmaker reduced allocation to halt declining residual values of its luxury vehiclesView the full article

Fraught summit in Anchorage marked a nadir that reshaped how the presidents approach each other View the full article

A likely further tax raid in the Budget will only add to pension and mortgage woesView the full article

Rapid growth of $2tn market has led to hastily done deals and hurried due diligence, say fund managersView the full article

Several recipients said they were left uncomfortable by email soliciting their backing in fighting sexual misconduct allegationsView the full article

Its dual dependence on America’s digital services and Beijing’s critical mineral processing industry leaves it highly vulnerableView the full article

Spending vast sums and inflating an investment bubble is no guarantee of unleashing technological magic View the full article

Discussions for deal long sought by kingdom come weeks after Qatar secured its own agreement with WashingtonView the full article

While previous presidents have introduced policies that have helped supporters, such incidents are now more common and overtView the full article

Onboarding goes well beyond the initial orientation phase, and it plays an essential role in shaping an employee’s experience. It helps in building connections among team members, enhancing confidence, and eventually improving job satisfaction. Furthermore, a structured onboarding process identifies skills gaps and streamlines training, enabling employees to achieve full productivity more quickly. Comprehending these benefits can lead to a more engaged workforce, but there’s much more to explore about how effective onboarding shapes organizational success. Key Takeaways Effective onboarding goes beyond orientation, fostering employee engagement and increasing productivity by up to 62%. Structured onboarding enhances employee connections, reducing isolation and promoting friendships that boost morale and retention. Well-defined onboarding processes build confidence and self-efficacy in new hires, resulting in higher job satisfaction and quicker acclimatization. Comprehensive onboarding improves employee retention by up to 25% in the first year, reducing turnover costs for organizations. Optimized onboarding identifies skills gaps and customizes training, leading to a more productive and efficient workforce. Understanding the Onboarding Process Comprehending the onboarding process is crucial for both new employees and organizations, as it sets the foundation for a successful working relationship. The advantages of onboarding extend well beyond initial orientation, offering ongoing support that can last up to 12 months. A good onboarding process aims to integrate new hires effectively, nurturing job satisfaction and engagement. Research shows that structured onboarding can boost engagement by up to 40%, whereas reducing the time it takes for employees to reach full productivity by as much as 62%. Additionally, with 90% of employees deciding on their organizational commitment within six months, clear onboarding objectives become critical for long-term retention and a thriving work environment. Effective onboarding truly benefits both parties involved. Enhancing Employee Connections Effective onboarding doesn’t just set the stage for new hires; it furthermore greatly improves employee connections within the organization. A structured onboarding orientation helps promote a sense of belonging, which is crucial, as 20% of workers report no effort to build connections. By incorporating initiatives like buddy systems, 87% of new hires find value in making friends at work, boosting workplace culture. Furthermore, trust is built among new hires, resulting in a 20% to 40% increase in engagement. Here’s a quick overview of the benefits of onboarding: Key Benefit Impact Increased Trust 20% to 40% increase in engagement Stronger Relationships Higher likelihood of retention Improved Workplace Culture 87% of new hires value connections Mutual Assessment Opportunities Reduced turnover risks Building Confidence and Self-Efficacy When new hires go through a well-structured onboarding process, they’re more likely to build confidence and self-efficacy in their roles. Unlike orientation, which often focuses on administrative tasks, onboarding actively prepares you for your position. This structured approach accelerates your ability to feel capable and self-sufficient, notably reducing the time it takes to become productive. Having clear points of contact for information and coaching during onboarding helps you navigate challenges effectively, nurturing confidence in your abilities. As a result, you can experience a 20% to 40% increase in engagement, contributing to a stronger sense of competence. In the end, a successful onboarding experience can boost your productivity by up to 62%, enhancing your self-efficacy and overall job performance. Improving Job Satisfaction and Engagement A well-designed onboarding process plays a vital role in improving job satisfaction and engagement among new employees. Unlike traditional orientation, effective onboarding provides continuous support, reducing feelings of isolation and encouraging a sense of belonging. Engaged employees form friendships at work, increasing productivity and satisfaction considerably. Onboarding Benefits Statistics Satisfaction Rate 70% Increase in Engagement Up to 40% Likelihood of Staying 3 Years 69% Understanding the difference between onboarding and orientation helps clarify why ongoing support matters. So, is onboarding the same as orientation? No, it’s more thorough, and the benefits of onboarding past orientation are vital for creating a positive workplace environment. Supporting Employee Retention Supporting employee retention starts with effective onboarding, which encourages improved loyalty and cultural integration. When you implement a structured onboarding program, you not just improve retention rates but additionally greatly decrease turnover costs, saving your business money in the long run. Engaged employees who feel connected to their organization are more likely to contribute positively to the workplace culture and remain with the company longer. Enhanced Employee Loyalty Effective onboarding programs play a crucial role in enhancing employee loyalty, as they create a strong connection between new hires and the organization. When you experience thorough onboarding, you’re 69% more likely to stay with the company for at least three years. This process nurtures trust and a sense of belonging, which greatly boosts your loyalty. Furthermore, structured onboarding reduces feelings of isolation or overwhelm, preventing regrets about your job that can lead to turnover. By addressing skills gaps and aligning your expectations with the organization’s needs, companies can cultivate a more satisfied and committed workforce. This investment not only benefits you as an employee but also strengthens the overall stability of the organization. Decreased Turnover Costs Onboarding not just encourages employee loyalty but also plays a significant role in decreasing turnover costs for organizations. By implementing effective onboarding practices, you can boost employee retention rates by up to 25% during the first year. This is vital, as retaining employees is more cost-effective than hiring new ones; losing an employee can cost between $7,500 and $28,000. Moreover, employees who enjoy a structured onboarding experience are 69% more likely to stay for at least three years. This contributes to long-term stability and reduces the likelihood of turnover. A positive onboarding experience improves job satisfaction, which directly correlates with lower turnover intentions, ultimately nurturing a committed workforce that mitigates associated costs. Improved Cultural Integration When new employees join a company, their successful integration into the organization’s culture is crucial for long-term retention. A structured onboarding process can greatly improve cultural integration, leading to higher employee satisfaction and loyalty. Consider these benefits: Improves comprehension of company values and mission Cultivates a sense of belonging, increasing retention by 69% for those with strong onboarding Reduces feelings of isolation, as ineffective onboarding can lead to frustration Supports a cohesive workplace culture, contributing to a 25% increase in first-year retention Provides ongoing support and engagement, correlating with improved job satisfaction Fostering a Positive Company Culture Nurturing a positive company culture is crucial for integrating new employees into an organization’s values and practices, as it lays the foundation for their long-term success and satisfaction. A strong onboarding process helps solidify this culture, leading to a 25% increase in retention rates during the first year. Long-standing employees play a key role in maintaining a consistent culture, enhancing new hires’ experiences and easing their integration. Onboarding programs that encourage social connections can greatly boost engagement, as 87% of new hires value friendships at work. A positive onboarding experience furthermore improves job satisfaction, strengthens morale, and creates a cohesive workforce. Effective onboarding stabilizes turnover, allowing new employees to contribute positively to the organization’s culture and overall success. Accelerating Productivity Levels When you implement effective onboarding, you set the stage for a streamlined learning process that improves role comprehension. This structure allows new hires to quickly adapt, increasing efficiency gains as they focus on their core responsibilities instead of getting bogged down in administrative tasks. In the end, a well-organized onboarding experience accelerates productivity levels, enabling employees to contribute meaningfully to their teams from day one. Streamlined Learning Process Effective onboarding not merely familiarizes new hires with their roles but furthermore greatly accelerates their productivity levels. With a structured onboarding process, you can shorten the learning curve, allowing you to become self-sufficient more quickly. Timely access to necessary tools and training likewise helps you produce higher quality work faster. Here are some key advantages of a streamlined learning process: Boosts new hire productivity by 62% Facilitates a smoother shift into full workload expectations Improves self-sufficiency, enabling efficient task completion Supports gradual ramp-up preferences favored by 86% of employees Contributes to higher quality work through effective training These elements work together to improve your overall productivity and job satisfaction. Enhanced Role Understanding A thorough grasp of your role is crucial for maximizing productivity and contributing effectively to your team. Effective onboarding, extending beyond orientation, can boost your productivity by as much as 62%. Structured onboarding processes clarify job expectations and responsibilities, helping you comprehend your role more quickly. Engaging experiences during this phase improve your confidence and self-sufficiency, leading to a smoother shift. Furthermore, extensive programs that include mentorship and regular feedback deepen your awareness of job functions and the organizational culture. This support promotes quicker acclimatization, allowing you to reach full productivity sooner. Employees with a thorough onboarding report notably higher job satisfaction, with 70% of those thriving in their roles benefiting from streamlined onboarding experiences. Increased Efficiency Gains Even though it may seem intimidating at first, an effective onboarding process can greatly improve your efficiency as a new employee. By streamlining training and resources, you can accelerate your productivity levels considerably. Here are some key benefits: Boosts productivity: New hires can see a 62% increase in productivity. Shortens learning curve: 70% of employees report better performance with thorough training. Reduces non-productive tasks: Structured onboarding helps you focus on crucial responsibilities from day one. Provides timely access: You receive necessary tools and training without delay, enhancing quality of work. Increases confidence: Effective onboarding encourages self-sufficiency, leading to greater efficiency in your role. Identifying and Addressing Skills Gaps When onboarding new employees, identifying and addressing skills gaps is crucial for both individual and organizational success. Effective onboarding enables you to pinpoint specific deficiencies in new hires, allowing you to create customized training programs that meet those needs. By conducting assessments during the onboarding process, you can guarantee employees acquire the necessary skills for their roles, enhancing their readiness and confidence. A structured approach not merely improves individual performance but likewise boosts the overall effectiveness of the organization. Addressing these skills gaps early on contributes to increased productivity and a higher quality workforce. In the end, targeted training during onboarding sets the foundation for long-term success, benefiting both the employee and the organization as a whole. Facilitating Employee Assessments During the onboarding process, you have a unique opportunity to assess job fit early, which is essential since many new hires form opinions about their roles within their first week. This structured timeframe not just helps align your skills with the job requirements but additionally allows you to identify any potential turnover risks before they escalate. Assessing Job Fit Early Evaluating job fit early in the onboarding process is crucial for both new hires and employers, as it sets the foundation for a successful working relationship. Nearly 70% of new hires assess their fit within the first month, with almost 30% making decisions in the first week. By using this time for mutual assessments, HR can better align expectations with organizational needs. This structured approach helps identify potential turnover risks and improves workforce quality. Key benefits include: Improved job satisfaction and performance Early identification of skills gaps Increased retention rates Better team engagement Clearer comprehension of role expectations Ultimately, early assessments can greatly impact long-term success for both employees and the organization. Aligning Skills With Roles Aligning skills with roles is essential for maximizing both employee potential and organizational effectiveness, especially in the significant early stages of onboarding. Effective onboarding facilitates mutual assessments between new hires and HR, ensuring a match between employee capabilities and organizational needs within the first month. Since nearly 70% of new hires evaluate their job fit early, it’s important to guide these assessments to identify any skills gaps. Structured onboarding processes improve employee readiness by establishing clear points of contact for information and coaching, which helps align skills with job expectations. Organizations that adopt effective onboarding practices often see better role comprehension among new hires, leading to better alignment and reducing the chances of role regrets in the long run. Identifying Turnover Risks Early Identifying turnover risks early in the onboarding process is vital, as it allows organizations to address potential issues before they escalate. With nearly 30% of new hires evaluating their job fit within the first week and 70% within the first month, effective onboarding becomes important. This structured timeframe enables HR and new employees to assess compatibility and alignment, which can lead to improved retention rates. Early identification of turnover risks can result in timely interventions, enhancing job satisfaction and engagement. Here are key aspects to focus on: Regular check-ins with new hires Surveys to gauge job satisfaction Feedback sessions to discuss concerns Clear communication of expectations Resources for additional support Streamlining Training and Development When new employees join an organization, streamlining their training and development is crucial for ensuring they quickly adapt to their roles. Effective onboarding standardizes training experiences, allowing new hires to complete required training without delay. This approach can reduce the time needed for new hires to become productive by up to 62%, enabling them to focus on their core responsibilities sooner. Structured programs identify skills gaps and provide targeted training to address these deficiencies, enhancing overall workforce quality. A strong onboarding experience boosts employee engagement by 20% to 40%, improving retention and performance. Moreover, continuous support during onboarding encourages collaboration, reducing mistakes and easing the burden on existing team members, ultimately increasing organizational efficiency. Integrating Remote Team Members Integrating remote team members into an organization requires a thoughtful approach to guarantee they feel connected and supported from the outset. With 76% of the U.S. workforce working remotely at least part-time, effective onboarding is vital. A structured onboarding process addresses the unique challenges faced by remote workers, promoting engagement and productivity. To improve integration, consider the following: Provide clear points of contact for information and coaching. Offer virtual team-building activities to nurture connections. Set up regular check-ins to support ongoing communication. Equip new hires with important tools and resources from day one. Clearly communicate the organization’s mission and culture. Reducing Onboarding Frustrations A structured onboarding process is vital for reducing frustrations that new hires often experience in their initial days at a company. Research shows that 29% of organizations recognize that ineffective onboarding can lead to employee frustration. Furthermore, 62% of employees feel current training is inadequate, highlighting the need for thorough support. A solid onboarding program increases satisfaction and reduces feelings of isolation, common frustrations for new hires. In addition, 97% of employees want training on tools and software, emphasizing that effective onboarding must address these needs. Incorporating clear guidance and mentorship helps new hires navigate their roles, greatly reducing uncertainty and confusion. Cultivating Workplace Friendships Cultivating workplace friendships is essential for creating a supportive and engaging environment, as social connections can greatly improve an employee’s experience. Effective onboarding programs facilitate these connections, helping new hires integrate smoothly. Consider the following benefits of encouraging friendships during onboarding: 87% of new hires value making friends at work, improving their overall satisfaction. Buddy systems encourage social interactions and build lasting relationships. Reduced feelings of isolation help new employees assimilate into the team more effectively. Improved engagement and productivity result from a supportive workplace culture. Connecting with colleagues boosts motivation and commitment to roles. Optimizing Organizational Efficiency Optimizing organizational efficiency starts with effective onboarding, as streamlined training processes help new hires hit the ground running. By minimizing the time spent on non-productive tasks, you encourage improved team collaboration and allow employees to engage in their core responsibilities sooner. This structured approach not just boosts productivity but additionally lays the foundation for a more cohesive and competent workforce. Streamlined Training Processes When new hires enter an organization, having a streamlined training process can make all the difference in their changeover. Effective onboarding standardizes training, ensuring consistency and timeliness. This approach greatly reduces the time it takes for new employees to acclimate, allowing them to concentrate on their core responsibilities sooner. Here are some key benefits of streamlined training processes: Increases new hire productivity by 62% Reduces time spent on non-productive tasks by 35% Addresses skills gaps early through targeted assessments Improves overall workforce quality and readiness Improves organizational efficiency and effectiveness Enhanced Team Collaboration Effective onboarding plays a crucial role in enhancing team collaboration within an organization. By clearly defining roles and responsibilities, new hires can communicate effectively and contribute to teamwork from day one. Structured onboarding programs, which may last up to 12 months, help employees build relationships with colleagues, cultivating a sense of belonging. Integrating team-building exercises increases social connections, with 87% of new hires valuing friendships at work, which boosts engagement and productivity. Moreover, mentorship or buddy systems facilitate quicker adaptation to team dynamics, lowering early turnover risks. In the end, improved collaboration through effective onboarding can lead to a 62% increase in new hire productivity, as employees feel prepared to meet team goals and initiatives swiftly. Frequently Asked Questions What Are the Benefits of Onboarding Pass Orientation? Onboarding beyond orientation offers several key benefits. It improves new hire productivity by providing ongoing training and resources, which can lead to a 62% increase in performance. This approach likewise helps both employees and employers assess job fit early, with 70% of new hires evaluating their fit within the first month. Furthermore, thorough onboarding nurtures employee satisfaction and loyalty, increasing retention rates considerably and contributing to a positive company culture. What Are the Benefits of Onboarding? Onboarding benefits your organization by boosting new hire productivity, enhancing retention, and increasing employee engagement. When you implement a structured onboarding process, new employees can become fully productive 62% faster and are 69% more likely to stay for three years. Furthermore, thorough onboarding can raise engagement by 20% to 40%, leading to better job satisfaction. Does Onboarding Come Before Orientation? Onboarding typically begins before orientation, as it includes preboarding activities that prepare you for your new role. Whereas orientation focuses on administrative tasks during your first day, onboarding continues over several months, integrating you into the company culture and building relationships. This extended process guarantees you understand your role and the organization’s values, ultimately improving your engagement and success within the company. What Are the 5 C’s of Onboarding? The 5 C’s of onboarding are Compliance, Clarification, Culture, Connection, and Check-back. Compliance guarantees you understand company policies and legal regulations. Clarification helps you grasp your specific roles and responsibilities, enhancing your job performance. Culture conveys the organization’s values and mission, nurturing belonging. Connection encourages relationship-building with coworkers and managers, boosting teamwork. Finally, Check-back involves regular follow-ups to address concerns and guarantee you’re adapting well to your new role. Conclusion In summary, effective onboarding extends well beyond orientation, offering numerous benefits that improve employee engagement and retention. By nurturing connections, building confidence, and increasing job satisfaction, a structured onboarding process greatly contributes to a more productive workforce. It likewise supports the integration of remote team members and reduces frustrations associated with onboarding. Ultimately, investing in an all-encompassing onboarding strategy not just cultivates loyalty but also optimizes organizational efficiency, ensuring long-term success for both employees and the organization. Image Via Envato This article, "What Are the Benefits of Onboarding Past Orientation?" was first published on Small Business Trends View the full article

Onboarding goes well beyond the initial orientation phase, and it plays an essential role in shaping an employee’s experience. It helps in building connections among team members, enhancing confidence, and eventually improving job satisfaction. Furthermore, a structured onboarding process identifies skills gaps and streamlines training, enabling employees to achieve full productivity more quickly. Comprehending these benefits can lead to a more engaged workforce, but there’s much more to explore about how effective onboarding shapes organizational success. Key Takeaways Effective onboarding goes beyond orientation, fostering employee engagement and increasing productivity by up to 62%. Structured onboarding enhances employee connections, reducing isolation and promoting friendships that boost morale and retention. Well-defined onboarding processes build confidence and self-efficacy in new hires, resulting in higher job satisfaction and quicker acclimatization. Comprehensive onboarding improves employee retention by up to 25% in the first year, reducing turnover costs for organizations. Optimized onboarding identifies skills gaps and customizes training, leading to a more productive and efficient workforce. Understanding the Onboarding Process Comprehending the onboarding process is crucial for both new employees and organizations, as it sets the foundation for a successful working relationship. The advantages of onboarding extend well beyond initial orientation, offering ongoing support that can last up to 12 months. A good onboarding process aims to integrate new hires effectively, nurturing job satisfaction and engagement. Research shows that structured onboarding can boost engagement by up to 40%, whereas reducing the time it takes for employees to reach full productivity by as much as 62%. Additionally, with 90% of employees deciding on their organizational commitment within six months, clear onboarding objectives become critical for long-term retention and a thriving work environment. Effective onboarding truly benefits both parties involved. Enhancing Employee Connections Effective onboarding doesn’t just set the stage for new hires; it furthermore greatly improves employee connections within the organization. A structured onboarding orientation helps promote a sense of belonging, which is crucial, as 20% of workers report no effort to build connections. By incorporating initiatives like buddy systems, 87% of new hires find value in making friends at work, boosting workplace culture. Furthermore, trust is built among new hires, resulting in a 20% to 40% increase in engagement. Here’s a quick overview of the benefits of onboarding: Key Benefit Impact Increased Trust 20% to 40% increase in engagement Stronger Relationships Higher likelihood of retention Improved Workplace Culture 87% of new hires value connections Mutual Assessment Opportunities Reduced turnover risks Building Confidence and Self-Efficacy When new hires go through a well-structured onboarding process, they’re more likely to build confidence and self-efficacy in their roles. Unlike orientation, which often focuses on administrative tasks, onboarding actively prepares you for your position. This structured approach accelerates your ability to feel capable and self-sufficient, notably reducing the time it takes to become productive. Having clear points of contact for information and coaching during onboarding helps you navigate challenges effectively, nurturing confidence in your abilities. As a result, you can experience a 20% to 40% increase in engagement, contributing to a stronger sense of competence. In the end, a successful onboarding experience can boost your productivity by up to 62%, enhancing your self-efficacy and overall job performance. Improving Job Satisfaction and Engagement A well-designed onboarding process plays a vital role in improving job satisfaction and engagement among new employees. Unlike traditional orientation, effective onboarding provides continuous support, reducing feelings of isolation and encouraging a sense of belonging. Engaged employees form friendships at work, increasing productivity and satisfaction considerably. Onboarding Benefits Statistics Satisfaction Rate 70% Increase in Engagement Up to 40% Likelihood of Staying 3 Years 69% Understanding the difference between onboarding and orientation helps clarify why ongoing support matters. So, is onboarding the same as orientation? No, it’s more thorough, and the benefits of onboarding past orientation are vital for creating a positive workplace environment. Supporting Employee Retention Supporting employee retention starts with effective onboarding, which encourages improved loyalty and cultural integration. When you implement a structured onboarding program, you not just improve retention rates but additionally greatly decrease turnover costs, saving your business money in the long run. Engaged employees who feel connected to their organization are more likely to contribute positively to the workplace culture and remain with the company longer. Enhanced Employee Loyalty Effective onboarding programs play a crucial role in enhancing employee loyalty, as they create a strong connection between new hires and the organization. When you experience thorough onboarding, you’re 69% more likely to stay with the company for at least three years. This process nurtures trust and a sense of belonging, which greatly boosts your loyalty. Furthermore, structured onboarding reduces feelings of isolation or overwhelm, preventing regrets about your job that can lead to turnover. By addressing skills gaps and aligning your expectations with the organization’s needs, companies can cultivate a more satisfied and committed workforce. This investment not only benefits you as an employee but also strengthens the overall stability of the organization. Decreased Turnover Costs Onboarding not just encourages employee loyalty but also plays a significant role in decreasing turnover costs for organizations. By implementing effective onboarding practices, you can boost employee retention rates by up to 25% during the first year. This is vital, as retaining employees is more cost-effective than hiring new ones; losing an employee can cost between $7,500 and $28,000. Moreover, employees who enjoy a structured onboarding experience are 69% more likely to stay for at least three years. This contributes to long-term stability and reduces the likelihood of turnover. A positive onboarding experience improves job satisfaction, which directly correlates with lower turnover intentions, ultimately nurturing a committed workforce that mitigates associated costs. Improved Cultural Integration When new employees join a company, their successful integration into the organization’s culture is crucial for long-term retention. A structured onboarding process can greatly improve cultural integration, leading to higher employee satisfaction and loyalty. Consider these benefits: Improves comprehension of company values and mission Cultivates a sense of belonging, increasing retention by 69% for those with strong onboarding Reduces feelings of isolation, as ineffective onboarding can lead to frustration Supports a cohesive workplace culture, contributing to a 25% increase in first-year retention Provides ongoing support and engagement, correlating with improved job satisfaction Fostering a Positive Company Culture Nurturing a positive company culture is crucial for integrating new employees into an organization’s values and practices, as it lays the foundation for their long-term success and satisfaction. A strong onboarding process helps solidify this culture, leading to a 25% increase in retention rates during the first year. Long-standing employees play a key role in maintaining a consistent culture, enhancing new hires’ experiences and easing their integration. Onboarding programs that encourage social connections can greatly boost engagement, as 87% of new hires value friendships at work. A positive onboarding experience furthermore improves job satisfaction, strengthens morale, and creates a cohesive workforce. Effective onboarding stabilizes turnover, allowing new employees to contribute positively to the organization’s culture and overall success. Accelerating Productivity Levels When you implement effective onboarding, you set the stage for a streamlined learning process that improves role comprehension. This structure allows new hires to quickly adapt, increasing efficiency gains as they focus on their core responsibilities instead of getting bogged down in administrative tasks. In the end, a well-organized onboarding experience accelerates productivity levels, enabling employees to contribute meaningfully to their teams from day one. Streamlined Learning Process Effective onboarding not merely familiarizes new hires with their roles but furthermore greatly accelerates their productivity levels. With a structured onboarding process, you can shorten the learning curve, allowing you to become self-sufficient more quickly. Timely access to necessary tools and training likewise helps you produce higher quality work faster. Here are some key advantages of a streamlined learning process: Boosts new hire productivity by 62% Facilitates a smoother shift into full workload expectations Improves self-sufficiency, enabling efficient task completion Supports gradual ramp-up preferences favored by 86% of employees Contributes to higher quality work through effective training These elements work together to improve your overall productivity and job satisfaction. Enhanced Role Understanding A thorough grasp of your role is crucial for maximizing productivity and contributing effectively to your team. Effective onboarding, extending beyond orientation, can boost your productivity by as much as 62%. Structured onboarding processes clarify job expectations and responsibilities, helping you comprehend your role more quickly. Engaging experiences during this phase improve your confidence and self-sufficiency, leading to a smoother shift. Furthermore, extensive programs that include mentorship and regular feedback deepen your awareness of job functions and the organizational culture. This support promotes quicker acclimatization, allowing you to reach full productivity sooner. Employees with a thorough onboarding report notably higher job satisfaction, with 70% of those thriving in their roles benefiting from streamlined onboarding experiences. Increased Efficiency Gains Even though it may seem intimidating at first, an effective onboarding process can greatly improve your efficiency as a new employee. By streamlining training and resources, you can accelerate your productivity levels considerably. Here are some key benefits: Boosts productivity: New hires can see a 62% increase in productivity. Shortens learning curve: 70% of employees report better performance with thorough training. Reduces non-productive tasks: Structured onboarding helps you focus on crucial responsibilities from day one. Provides timely access: You receive necessary tools and training without delay, enhancing quality of work. Increases confidence: Effective onboarding encourages self-sufficiency, leading to greater efficiency in your role. Identifying and Addressing Skills Gaps When onboarding new employees, identifying and addressing skills gaps is crucial for both individual and organizational success. Effective onboarding enables you to pinpoint specific deficiencies in new hires, allowing you to create customized training programs that meet those needs. By conducting assessments during the onboarding process, you can guarantee employees acquire the necessary skills for their roles, enhancing their readiness and confidence. A structured approach not merely improves individual performance but likewise boosts the overall effectiveness of the organization. Addressing these skills gaps early on contributes to increased productivity and a higher quality workforce. In the end, targeted training during onboarding sets the foundation for long-term success, benefiting both the employee and the organization as a whole. Facilitating Employee Assessments During the onboarding process, you have a unique opportunity to assess job fit early, which is essential since many new hires form opinions about their roles within their first week. This structured timeframe not just helps align your skills with the job requirements but additionally allows you to identify any potential turnover risks before they escalate. Assessing Job Fit Early Evaluating job fit early in the onboarding process is crucial for both new hires and employers, as it sets the foundation for a successful working relationship. Nearly 70% of new hires assess their fit within the first month, with almost 30% making decisions in the first week. By using this time for mutual assessments, HR can better align expectations with organizational needs. This structured approach helps identify potential turnover risks and improves workforce quality. Key benefits include: Improved job satisfaction and performance Early identification of skills gaps Increased retention rates Better team engagement Clearer comprehension of role expectations Ultimately, early assessments can greatly impact long-term success for both employees and the organization. Aligning Skills With Roles Aligning skills with roles is essential for maximizing both employee potential and organizational effectiveness, especially in the significant early stages of onboarding. Effective onboarding facilitates mutual assessments between new hires and HR, ensuring a match between employee capabilities and organizational needs within the first month. Since nearly 70% of new hires evaluate their job fit early, it’s important to guide these assessments to identify any skills gaps. Structured onboarding processes improve employee readiness by establishing clear points of contact for information and coaching, which helps align skills with job expectations. Organizations that adopt effective onboarding practices often see better role comprehension among new hires, leading to better alignment and reducing the chances of role regrets in the long run. Identifying Turnover Risks Early Identifying turnover risks early in the onboarding process is vital, as it allows organizations to address potential issues before they escalate. With nearly 30% of new hires evaluating their job fit within the first week and 70% within the first month, effective onboarding becomes important. This structured timeframe enables HR and new employees to assess compatibility and alignment, which can lead to improved retention rates. Early identification of turnover risks can result in timely interventions, enhancing job satisfaction and engagement. Here are key aspects to focus on: Regular check-ins with new hires Surveys to gauge job satisfaction Feedback sessions to discuss concerns Clear communication of expectations Resources for additional support Streamlining Training and Development When new employees join an organization, streamlining their training and development is crucial for ensuring they quickly adapt to their roles. Effective onboarding standardizes training experiences, allowing new hires to complete required training without delay. This approach can reduce the time needed for new hires to become productive by up to 62%, enabling them to focus on their core responsibilities sooner. Structured programs identify skills gaps and provide targeted training to address these deficiencies, enhancing overall workforce quality. A strong onboarding experience boosts employee engagement by 20% to 40%, improving retention and performance. Moreover, continuous support during onboarding encourages collaboration, reducing mistakes and easing the burden on existing team members, ultimately increasing organizational efficiency. Integrating Remote Team Members Integrating remote team members into an organization requires a thoughtful approach to guarantee they feel connected and supported from the outset. With 76% of the U.S. workforce working remotely at least part-time, effective onboarding is vital. A structured onboarding process addresses the unique challenges faced by remote workers, promoting engagement and productivity. To improve integration, consider the following: Provide clear points of contact for information and coaching. Offer virtual team-building activities to nurture connections. Set up regular check-ins to support ongoing communication. Equip new hires with important tools and resources from day one. Clearly communicate the organization’s mission and culture. Reducing Onboarding Frustrations A structured onboarding process is vital for reducing frustrations that new hires often experience in their initial days at a company. Research shows that 29% of organizations recognize that ineffective onboarding can lead to employee frustration. Furthermore, 62% of employees feel current training is inadequate, highlighting the need for thorough support. A solid onboarding program increases satisfaction and reduces feelings of isolation, common frustrations for new hires. In addition, 97% of employees want training on tools and software, emphasizing that effective onboarding must address these needs. Incorporating clear guidance and mentorship helps new hires navigate their roles, greatly reducing uncertainty and confusion. Cultivating Workplace Friendships Cultivating workplace friendships is essential for creating a supportive and engaging environment, as social connections can greatly improve an employee’s experience. Effective onboarding programs facilitate these connections, helping new hires integrate smoothly. Consider the following benefits of encouraging friendships during onboarding: 87% of new hires value making friends at work, improving their overall satisfaction. Buddy systems encourage social interactions and build lasting relationships. Reduced feelings of isolation help new employees assimilate into the team more effectively. Improved engagement and productivity result from a supportive workplace culture. Connecting with colleagues boosts motivation and commitment to roles. Optimizing Organizational Efficiency Optimizing organizational efficiency starts with effective onboarding, as streamlined training processes help new hires hit the ground running. By minimizing the time spent on non-productive tasks, you encourage improved team collaboration and allow employees to engage in their core responsibilities sooner. This structured approach not just boosts productivity but additionally lays the foundation for a more cohesive and competent workforce. Streamlined Training Processes When new hires enter an organization, having a streamlined training process can make all the difference in their changeover. Effective onboarding standardizes training, ensuring consistency and timeliness. This approach greatly reduces the time it takes for new employees to acclimate, allowing them to concentrate on their core responsibilities sooner. Here are some key benefits of streamlined training processes: Increases new hire productivity by 62% Reduces time spent on non-productive tasks by 35% Addresses skills gaps early through targeted assessments Improves overall workforce quality and readiness Improves organizational efficiency and effectiveness Enhanced Team Collaboration Effective onboarding plays a crucial role in enhancing team collaboration within an organization. By clearly defining roles and responsibilities, new hires can communicate effectively and contribute to teamwork from day one. Structured onboarding programs, which may last up to 12 months, help employees build relationships with colleagues, cultivating a sense of belonging. Integrating team-building exercises increases social connections, with 87% of new hires valuing friendships at work, which boosts engagement and productivity. Moreover, mentorship or buddy systems facilitate quicker adaptation to team dynamics, lowering early turnover risks. In the end, improved collaboration through effective onboarding can lead to a 62% increase in new hire productivity, as employees feel prepared to meet team goals and initiatives swiftly. Frequently Asked Questions What Are the Benefits of Onboarding Pass Orientation? Onboarding beyond orientation offers several key benefits. It improves new hire productivity by providing ongoing training and resources, which can lead to a 62% increase in performance. This approach likewise helps both employees and employers assess job fit early, with 70% of new hires evaluating their fit within the first month. Furthermore, thorough onboarding nurtures employee satisfaction and loyalty, increasing retention rates considerably and contributing to a positive company culture. What Are the Benefits of Onboarding? Onboarding benefits your organization by boosting new hire productivity, enhancing retention, and increasing employee engagement. When you implement a structured onboarding process, new employees can become fully productive 62% faster and are 69% more likely to stay for three years. Furthermore, thorough onboarding can raise engagement by 20% to 40%, leading to better job satisfaction. Does Onboarding Come Before Orientation? Onboarding typically begins before orientation, as it includes preboarding activities that prepare you for your new role. Whereas orientation focuses on administrative tasks during your first day, onboarding continues over several months, integrating you into the company culture and building relationships. This extended process guarantees you understand your role and the organization’s values, ultimately improving your engagement and success within the company. What Are the 5 C’s of Onboarding? The 5 C’s of onboarding are Compliance, Clarification, Culture, Connection, and Check-back. Compliance guarantees you understand company policies and legal regulations. Clarification helps you grasp your specific roles and responsibilities, enhancing your job performance. Culture conveys the organization’s values and mission, nurturing belonging. Connection encourages relationship-building with coworkers and managers, boosting teamwork. Finally, Check-back involves regular follow-ups to address concerns and guarantee you’re adapting well to your new role. Conclusion In summary, effective onboarding extends well beyond orientation, offering numerous benefits that improve employee engagement and retention. By nurturing connections, building confidence, and increasing job satisfaction, a structured onboarding process greatly contributes to a more productive workforce. It likewise supports the integration of remote team members and reduces frustrations associated with onboarding. Ultimately, investing in an all-encompassing onboarding strategy not just cultivates loyalty but also optimizes organizational efficiency, ensuring long-term success for both employees and the organization. Image Via Envato This article, "What Are the Benefits of Onboarding Past Orientation?" was first published on Small Business Trends View the full article

In stock management, using effective inventory forecasting methods is essential for maintaining ideal levels. Time-Series Analysis helps you predict trends based on historical sales data, whereas Demand Forecasting guarantees your inventory aligns with expected sales. Causal Models consider external factors that may impact demand, and Lead Time Forecasting aids in predicting restock durations. Finally, Collaborative Planning, Forecasting, and Replenishment (CPFR) improves cooperation between suppliers and retailers. Comprehending these methods can greatly influence your operational efficiency. What’s the best approach for your specific needs? Key Takeaways Time-Series Analysis utilizes historical sales data to forecast future inventory needs and identify demand patterns effectively. Demand Forecasting aligns inventory levels with anticipated sales, preventing overstock and stockouts through historical analysis and market trend consideration. Causal Models improve accuracy by analyzing cause-and-effect relationships and the impact of external factors on inventory needs. Lead Time Forecasting assesses the duration required to replenish stock, enhancing inventory management by analyzing order processing and supplier performance. Collaborative Planning, Forecasting, and Replenishment (CPFR) fosters collaboration between suppliers and retailers, improving demand understanding and reducing stockouts. Time-Series Analysis Time-Series Analysis is a potent tool for forecasting inventory needs, particularly when you have a wealth of historical sales data collected over regular intervals. This method, among various inventory forecasting methods, analyzes past sales to identify patterns and trends that inform future demand predictions. Key statistical models, such as Moving Average and ARIMA, improve this analysis. Moving Average helps smooth short-term fluctuations and reveals seasonal trends, whereas ARIMA captures complex data dependencies. By emphasizing recent data, Exponential Smoothing adapts forecasts quickly to changing conditions. Time-Series Analysis is especially beneficial for businesses with established products and predictable demand, as it supports scalability and efficient inventory management across multiple items, ensuring you meet customer needs without excess stock. Demand Forecasting As businesses endeavor to meet customer needs effectively, demand forecasting plays a crucial role in aligning inventory levels with anticipated sales. By estimating future customer demand, you can avoid overstock and stockouts, ensuring that products are available when needed. Here are four key aspects of inventory demand forecasting: Historical Analysis: Examine past sales data to identify trends and patterns. Market Trends: Stay informed about external factors that may impact demand, such as economic shifts or competitor actions. Quantitative Methods: Use numerical approaches like time series analysis for accurate predictions. Qualitative Insights: Incorporate expert opinions and market research to improve forecasting accuracy. Causal Models Causal models in inventory forecasting serve as influential tools that help businesses understand the intricate relationships between inventory levels and various external factors. By analyzing cause-and-effect relationships—such as marketing campaigns or economic conditions—these models improve the accuracy of demand predictions. Utilizing statistical techniques, you can quantify the impact of specific variables on your inventory needs, enabling you to identify key demand drivers. This approach requires thorough data collection, including historical sales data and external factors, to model different scenarios effectively. Implementing causal models can increase forecasting accuracy by 10-20% compared to traditional inventory forecasting techniques, making your business more responsive to market changes, optimizing stock levels, reducing stockouts, and finally boosting customer satisfaction. Lead Time Forecasting Lead time forecasting plays a crucial role in inventory management, as it predicts the duration needed to replenish stock and align inventory levels with customer demand. Accurate lead time forecasting considers various factors that can greatly impact inventory forecasting. Here are four key components to focus on: Order Processing Time: The duration from order placement to when it’s ready for production. Production Lead Time: The time taken to manufacture the product. Delivery Lead Time: The period required for the product to reach your location after production. Supplier Performance: Analyzing historical data can improve your scheduling accuracy. Collaborative Planning, Forecasting, and Replenishment (CPFR) Collaborative Planning, Forecasting, and Replenishment (CPFR) is a strategic approach that improves inventory forecasting by promoting collaboration between suppliers and retailers. By sharing knowledge and data, you can gain a clearer comprehension of demand and supply dynamics, leading to more accurate inventory levels. CPFR establishes a structured process involving joint business planning, sales forecasting, order planning, and fulfillment. Successful implementations have reduced stockouts by up to 15%. Regular monthly reviews and adjustments keep communication open, allowing you to adapt to market changes effectively. This collaborative approach boosts operational efficiency, helping you manage inventory costs better during meeting customer expectations, ultimately leading to improved financial performance and ideal replenishment strategies. Frequently Asked Questions What Are the Methods of Inventory Forecasting? You can utilize various methods for inventory forecasting, including quantitative and qualitative approaches. Quantitative forecasting uses historical sales data to predict future demand, ideal for established products. Conversely, qualitative forecasting relies on expert insights and market research, useful for new items. Trend analysis identifies patterns over time, whereas causal models assess relationships between inventory levels and external factors. Collaborative planning nurtures alignment between retailers and suppliers, enhancing overall forecast accuracy. What Methods Do You Use to Forecast Demand and Ensure Optimal Stock Levels? To forecast demand and guarantee ideal stock levels, you can employ several methods. Using quantitative techniques, like time series analysis, allows you to analyze historical sales data and identify trends. On the other hand, qualitative methods, such as gathering insights from customers, can provide context for new products. Combining both approaches often yields the best results, as it balances data-driven decisions with market insights, helping you maintain adequate inventory without overstocking or stockouts. What Are the Four Types of Forecasting Methods? The four types of forecasting methods you can use are time-series analysis, demand forecasting, causal models, and lead time forecasting. Time-series analysis looks at historical sales data to predict future demand patterns. Demand forecasting estimates customer purchases based on market trends. Causal models examine relationships between inventory and external factors, whereas lead time forecasting predicts the time needed to replenish stock. Each method helps in making informed inventory management decisions. What Is Essential for Accurately Forecasting Future Sales in Managing Inventory Levels? To accurately forecast future sales and manage inventory levels, you’ll need to analyze historical sales data, ideally from the past one to two years. Identifying patterns and trends helps predict future demand. Incorporating external factors, such as market conditions and seasonality, refines your forecasts. Use a combination of quantitative methods, like time series analysis, and qualitative insights, such as customer feedback, to improve accuracy and adapt to changing consumer preferences effectively. Conclusion Incorporating these five inventory forecasting methods—Time-Series Analysis, Demand Forecasting, Causal Models, Lead Time Forecasting, and CPFR—can greatly improve your stock management practices. By utilizing historical data and collaborating with suppliers, you can better anticipate demand, optimize inventory levels, and reduce the risk of stockouts. Implementing these strategies not merely streamlines operations but furthermore enhances overall efficiency, ensuring that you meet customer needs as you minimize excess inventory. Prioritizing these methods will lead to more effective stock management. Image Via Envato This article, "5 Essential Inventory Forecasting Methods for Better Stock Management" was first published on Small Business Trends View the full article

In stock management, using effective inventory forecasting methods is essential for maintaining ideal levels. Time-Series Analysis helps you predict trends based on historical sales data, whereas Demand Forecasting guarantees your inventory aligns with expected sales. Causal Models consider external factors that may impact demand, and Lead Time Forecasting aids in predicting restock durations. Finally, Collaborative Planning, Forecasting, and Replenishment (CPFR) improves cooperation between suppliers and retailers. Comprehending these methods can greatly influence your operational efficiency. What’s the best approach for your specific needs? Key Takeaways Time-Series Analysis utilizes historical sales data to forecast future inventory needs and identify demand patterns effectively. Demand Forecasting aligns inventory levels with anticipated sales, preventing overstock and stockouts through historical analysis and market trend consideration. Causal Models improve accuracy by analyzing cause-and-effect relationships and the impact of external factors on inventory needs. Lead Time Forecasting assesses the duration required to replenish stock, enhancing inventory management by analyzing order processing and supplier performance. Collaborative Planning, Forecasting, and Replenishment (CPFR) fosters collaboration between suppliers and retailers, improving demand understanding and reducing stockouts. Time-Series Analysis Time-Series Analysis is a potent tool for forecasting inventory needs, particularly when you have a wealth of historical sales data collected over regular intervals. This method, among various inventory forecasting methods, analyzes past sales to identify patterns and trends that inform future demand predictions. Key statistical models, such as Moving Average and ARIMA, improve this analysis. Moving Average helps smooth short-term fluctuations and reveals seasonal trends, whereas ARIMA captures complex data dependencies. By emphasizing recent data, Exponential Smoothing adapts forecasts quickly to changing conditions. Time-Series Analysis is especially beneficial for businesses with established products and predictable demand, as it supports scalability and efficient inventory management across multiple items, ensuring you meet customer needs without excess stock. Demand Forecasting As businesses endeavor to meet customer needs effectively, demand forecasting plays a crucial role in aligning inventory levels with anticipated sales. By estimating future customer demand, you can avoid overstock and stockouts, ensuring that products are available when needed. Here are four key aspects of inventory demand forecasting: Historical Analysis: Examine past sales data to identify trends and patterns. Market Trends: Stay informed about external factors that may impact demand, such as economic shifts or competitor actions. Quantitative Methods: Use numerical approaches like time series analysis for accurate predictions. Qualitative Insights: Incorporate expert opinions and market research to improve forecasting accuracy. Causal Models Causal models in inventory forecasting serve as influential tools that help businesses understand the intricate relationships between inventory levels and various external factors. By analyzing cause-and-effect relationships—such as marketing campaigns or economic conditions—these models improve the accuracy of demand predictions. Utilizing statistical techniques, you can quantify the impact of specific variables on your inventory needs, enabling you to identify key demand drivers. This approach requires thorough data collection, including historical sales data and external factors, to model different scenarios effectively. Implementing causal models can increase forecasting accuracy by 10-20% compared to traditional inventory forecasting techniques, making your business more responsive to market changes, optimizing stock levels, reducing stockouts, and finally boosting customer satisfaction. Lead Time Forecasting Lead time forecasting plays a crucial role in inventory management, as it predicts the duration needed to replenish stock and align inventory levels with customer demand. Accurate lead time forecasting considers various factors that can greatly impact inventory forecasting. Here are four key components to focus on: Order Processing Time: The duration from order placement to when it’s ready for production. Production Lead Time: The time taken to manufacture the product. Delivery Lead Time: The period required for the product to reach your location after production. Supplier Performance: Analyzing historical data can improve your scheduling accuracy. Collaborative Planning, Forecasting, and Replenishment (CPFR) Collaborative Planning, Forecasting, and Replenishment (CPFR) is a strategic approach that improves inventory forecasting by promoting collaboration between suppliers and retailers. By sharing knowledge and data, you can gain a clearer comprehension of demand and supply dynamics, leading to more accurate inventory levels. CPFR establishes a structured process involving joint business planning, sales forecasting, order planning, and fulfillment. Successful implementations have reduced stockouts by up to 15%. Regular monthly reviews and adjustments keep communication open, allowing you to adapt to market changes effectively. This collaborative approach boosts operational efficiency, helping you manage inventory costs better during meeting customer expectations, ultimately leading to improved financial performance and ideal replenishment strategies. Frequently Asked Questions What Are the Methods of Inventory Forecasting? You can utilize various methods for inventory forecasting, including quantitative and qualitative approaches. Quantitative forecasting uses historical sales data to predict future demand, ideal for established products. Conversely, qualitative forecasting relies on expert insights and market research, useful for new items. Trend analysis identifies patterns over time, whereas causal models assess relationships between inventory levels and external factors. Collaborative planning nurtures alignment between retailers and suppliers, enhancing overall forecast accuracy. What Methods Do You Use to Forecast Demand and Ensure Optimal Stock Levels? To forecast demand and guarantee ideal stock levels, you can employ several methods. Using quantitative techniques, like time series analysis, allows you to analyze historical sales data and identify trends. On the other hand, qualitative methods, such as gathering insights from customers, can provide context for new products. Combining both approaches often yields the best results, as it balances data-driven decisions with market insights, helping you maintain adequate inventory without overstocking or stockouts. What Are the Four Types of Forecasting Methods? The four types of forecasting methods you can use are time-series analysis, demand forecasting, causal models, and lead time forecasting. Time-series analysis looks at historical sales data to predict future demand patterns. Demand forecasting estimates customer purchases based on market trends. Causal models examine relationships between inventory and external factors, whereas lead time forecasting predicts the time needed to replenish stock. Each method helps in making informed inventory management decisions. What Is Essential for Accurately Forecasting Future Sales in Managing Inventory Levels? To accurately forecast future sales and manage inventory levels, you’ll need to analyze historical sales data, ideally from the past one to two years. Identifying patterns and trends helps predict future demand. Incorporating external factors, such as market conditions and seasonality, refines your forecasts. Use a combination of quantitative methods, like time series analysis, and qualitative insights, such as customer feedback, to improve accuracy and adapt to changing consumer preferences effectively. Conclusion Incorporating these five inventory forecasting methods—Time-Series Analysis, Demand Forecasting, Causal Models, Lead Time Forecasting, and CPFR—can greatly improve your stock management practices. By utilizing historical data and collaborating with suppliers, you can better anticipate demand, optimize inventory levels, and reduce the risk of stockouts. Implementing these strategies not merely streamlines operations but furthermore enhances overall efficiency, ensuring that you meet customer needs as you minimize excess inventory. Prioritizing these methods will lead to more effective stock management. Image Via Envato This article, "5 Essential Inventory Forecasting Methods for Better Stock Management" was first published on Small Business Trends View the full article

This guide on where to stay in Phan Thiet lists the best beach areas on the Mui Ne/Phan Thiet resort coast. Phan Thiet is a coastal city in the South Central Coast region of Vietnam. It’s a popular beach area due to its proximity to Ho Chi Minh City. Phan Thiet is also referred to as Mui Ne, and the two names are used interchangeably. Phan Thiet isn’t the best beach resort area in Vietnam, but its a good option for an easy beach getaway from Saigon if you don’t want to fly. There is a train from Saigon to Phan Thiet that takes 4 hours, and it’s timed perfectly for short trips. The main tourist beach faces south, and the coastal breeze that blows from east to west has made it a popular kite surfing destination. There are also some impressive sand dunes that have formed on this dry and windswept coastline. Having been based in Saigon for years, I have made many trips to Phan Thiet. Like my other Where To Stay guides, I have picked the best area for first-time visitors to save you time. In the case of Phan Thiet, it’s important to pick the right area if you are looking for an actual beach break, because some beaches have lost their sand. Where to stay in Phan Thiet guide Map of Phan Thiet hotels Quick Guide: Best area to stay in Phan Thiet Is it Phan Thiet or Mui Ne? Where to stay in Phan Thiet Ham Tien Beach (The best beach area in Phan Thiet) Ham Tien Market (Local area popular with backpackers) Fairy Stream (Guest house options) Mui Ne (The real Mui Ne) Phu Hai (Resorts and future new urban areas) Phan Thiet City (Provincial capital, fishing port, street food) Tien Thanh (Developing coastal area) Map of Phan Thiet hotels Hotels mentioned in this article are pinned on this map. [View map of Phan Thiet hotels.] Quick Guide: Best area to stay in Phan Thiet Best area to stay in Phan Thiet is at Ham Thien. Top local resorts in this area include: Sailing Club Resort Mui Ne Seahorse Resort & Spa Phan Thiet The top-rated luxury resorts include: Anantara Mui Ne Resort The Anam Mui Ne. The rest of this guide breaks down the main areas to stay in Phan Thiet. Is it Phan Thiet or Mui Ne? There is some confusion about the difference between Phan Thiet and Mui Ne. Phan Thiet is a city, which is divided into wards. One of the wards is Mui Ne. This map shows where Mui Ne is within Phan Thiet. [Phan Thiet Wards Map via Wikimedia Commons.] Phan Thiet and Mui Ne were put on the tourist map when it was calculated that it would be one of the best places in Vietnam to watch the solar eclipse on October 24, 1995. Guidebooks referred to Mui Ne Bay as ‘Mui Ne Beach’, and the name has stuck ever since. Even now, new hotels and resorts that are not in the administrative ward of Mui Ne brand themselves as Mui Ne. If you say you are going to Mui Ne but aren’t in Mui Ne, no one will care. For the purpose of this article, I have grouped hotels in their correct wards. Where to stay in Phan Thiet These are the main areas in Phan Thiet. Ham Tien Beach [Ham Tien Beach, Phan Thiet.] Ham Thien is where most of the beach action is in Phan Thiet. It has the best stretch of beach, but even here you have to be selective. There has been a lot of coastal erosion over the years, and the steady wind that powers the kite surfers has also piled up the sand to the western half of the beach. [Kite surfers on the beach in Phan Thiet.] There are gigantic sand bags that have been placed to stop the sand disappearing completely, making parts of the beach less aesthetically pleasing. [Sand bag on the beach in Phan Thiet.] There are some sections of the beach where buildings that were built too close to the sea have crumbled into the sand. The sand bags have stabilised the erosion for now, but this might become a familiar sites on beaches in the future. Another factor to consider is that shops and restaurants are thinly spread out along one main road (Nguyen Dinh Chieu). This road goes from Phan Thiet to Mui Ne, and there is not really a town centre on the beach area. Like other beach towns, the big resorts are on the beach side of the road, while the cheaper hotels are on the other side of the road. Arriving from Phan Thiet City, Ham Tien Beach starts at Ong Dia rock beach and goes to about Sunny Beach Resort & Spa. The widest section of beach is at the western end, with Ca Ty Mui Ne Resort (4-star) and Allezboo Beach Resort and Spa (4-star) marking the start of the beach resort area. Seahorse Resort & Spa Phan Thiet (4-star) is an independent hotel resort that is on the best section of beach. [Seahorse Resort & Spa Phan Thiet.] The Seahorse Resort is on a big property with a great pool overlooking the beach. [Swimming pool at Seahorse Resort & Spa Phan Thiet.] Sailing Club Resort Mui Ne (4-star) is a part of the Sailing Club Leisure Group of Vietnam, who have become an institution at beaches across the country. They began in Nha Trang in 1994, and the “Mui Ne” hotel opened in 2001. As the name would suggest, the resort has beach club vibes, and the restaurant is one of the best-located bars on the beach. [Swimming pool at Sailing Club.] The pick of the 5-star luxury resorts on this section of beach is the Anantara Mui Ne Resort and The Anam Mui Ne. Budget accommodation is on the other side of the road. There are some hostels and guesthouses in alley 69, including the Huyen Tran Bungalow. [Read my review of Huyen Tran Bungalow.] Delight Hotel Mui Ne is on the main road and close to shops and the good stretch of beach. [Read my review of Delight Hotel Mui Ne.] One thing that is remarkable about this beach is that it has managed to stay low-rise. Most beach resorts of Vietnam have big hotels and apartment towers now. The Vipol Muine (4-star) is in the tallest building on Ham Tien Beach. It’s on the main road, but you will get a good view of the sea from here. [Vipol Muine (in the background) on Nguyen Dinh Chieu.] The sandy beach section at Ham Tien goes up to about Sunny Beach Resort. [Sunny Beach Resort.] Beyond Sunny Beach Resort the beach thins out dramatically and there are sand bags trying to rebuild the coastline. I went for a coffee at Cafe Sunset on the beach, and this section is a seawall with no beach. [Seawall at Cafe Sunset on the beach.] Despite the lack of beach, there are many bars and restaurants in this area and I noticed foreigners who looked like long-termers. If you find a place to stay further along, just know that there is no beach. Ham Tien Market Ham Tien Market (Cho Ham Tien) is further along the coast towards Mui Ne. It has a different vibe to the resort area of Ham Tien so I am giving it its own section. Ham Tien Market has a more local feel as it’s the site of the central market of the ward. There are little alleys off the main road with home stays and garden villas. It’s just a shame about the beach. I stayed here on my first visit to Phan Thiet, and there was a beach lined with fishing boats. I hadn’t been there for a decade, so I was surprised to find that there is now a seawall and most of the beach has gone. At least they have made a walkable seaside promenade here, which is lacking at the resort end of the beach. [The seaside promenade built along the seawall in Ham Tien.] This area is popular with backpackers, and it includes the Pineapple Mũi Né beach bar. iHome Backpacker Resort is one of the main backpacker hostels, and there are other guesthouses in this area. [iHome Backpacker Resort.] The thing with Phan Thiet is that there are activities in the area such as the sand dunes and fairy stream. If the beach isn’t your priority then this is a place to meet fellow travellers on your Vietnam trip. Fairy Stream The Fairy Stream (Soui Tien) is a stream that flows on a sandy river bed through a canyon. The stream is only centimetres deep and it feels more like a walk on a pleasant beach. It is a highlight of visiting Phan Thiet. [Walking through the fairy stream in Phan Thiet.] On the main road near the stream are numerous guest houses (look for the “Nhà Nghỉ” signs). I’ve not stayed here before as it is not near a beach. I put this here as an option if you have your own transport and are looking for a cheap room. For example if you are doing a motorbike trip around Vietnam you could just turn up here and ask for a room. Mui Ne Mui Ne is the fishing port town at the other end of the bay. Mui Ne is a typical Vietnam fishing township and there are very few places to stay in the town itself. The beaches of Mui Ne aren’t as good as Ham Tien, but the highlight of Mui Ne is the Red Sand Dunes area. [Red Sand Dunes of Mui Ne.] Mui Ne starts at Centara Mirage Resort Mui Ne. This overlooks the bay with the fishing boats, and there is no beach here. The resort is rated for being family friendly, so it attracts people looking for a villa with access to kid-friendly swimming pools. [Centara Mirage Resort Mui Ne.] There are some hotels and resorts that are along the coast on the other side of Mui Ne town. These are popular with domestic tourists, and on the weekend the roads can be jammed with buses parked on the side of the road. There are some big resorts being built along the coast, and like so many places in Vietnam, there are abandoned hotel projects everywhere. At far end of Mui Ne (and the northern boundary of Phan Thiet) is the incongruous Mandala Cham Bay Mui Ne, Phan Thiet. The hotel complex has four towers standing high on top of a sand dune overlooking the sea. They have built a platform on the roadside cliff to access the beach. [Mandala Cham Bay Mui Ne, Phan Thiet.] Phu Hai Phu Hai is the area between Phan Thiet City and Ham Tien Beach. The coastal section is off the main road and it has a rocky coastline compared to Ham Tien. There are small beaches that are broken up by retaining walls to hold the sand. [Beach road in Phu Hai, Phan Thiet.] There are mainly resorts along here, such as The Cliff Resort and Residences and Victoria Phan Thiet Beach Resort & Spa. On the other side of the main road is Sea Links City. This is the largest resort complex in Phan Thiet (or Mui Ne as they refer to themselves). This complex includes hotels, villas, apartments, and an 18-hole golf course (Sea Links Golf Country Club). The beach is accessible via a pedestrian overpass. Hotels in this complex include Ocean Vista Resort & Residence Mui Ne (4-star) and Sea Links Beach Resort (5-star), which is better positioned for the gold course. At the top of the hill there are some new urban areas being built. One of the big projects is Mui Ne Summerland. These are future residential areas that are being promoted as second homes or holiday homes. There is nothing here of interest for short-term visitors, though its fortunes may change in the future. The Summerland project sits about midway between Phan Thiet City and the future Phan Thiet Airport. Phan Thiet City Phan Thiet City was the capital of Binh Thuan Province before it was merged into Lam Dong Province in 2025. I have stayed in Phan Thiet before, mainly because I am an urban connoisseur that likes to explore provincial cities. There is a seafront, but it’s near the mouth of a river that is home to a fishing fleet. The Phan Thiet train station is on the outskirts of the city, and most people just get a taxi to the beach area. The main reason to come to the city of Phan Thiet is for the markets and street food. It’s hard to find proper street food in the beach resort areas. Apart from that, there is no reason to stay here for the casual visitor. TTC Hotel – Phan Thiet is by the coastal part of the city. Tien Thanh Tien Thanh is the ward to the Southwest of Phan Thiet city. You might be looking at the map of Phan Thiet wondering what the beaches are like there, and why there are some familiar brand-name hotels. I don’t recommend this area but I place this here for your understanding. This stretch of coast is mainly made up of small houses in villages that stretch along the coastal road. It’s a beautiful coastline, and the big property developers have staked out beachfront land for resorts and new urban areas. The big project in this area (and I mean BIG) is the NovaWorld Phan Thiet development by Novaland. This is a new urban area that is being built from nothing. It looks like a suburb from Florida was placed on the coast, and the main beach here is called Bikini Beach. At the entrance to NovaWorld is Mövenpick Resort Phan Thiet. This is a family-friendly hotel that features a pirate ship as the centrepiece of swimming pool area. There are theme parks being developed in this area, so it might become a theme park area, even if the residential area remains empty for years. [Check rates for Mövenpick Resort Phan Thiet.] The other familiar name here is Radisson Resort Phan Thiet. The coast of Tien Thanh is littered with unfinished projects, ruining what might have otherwise been a great area to stay if it had been planned better. View the full article