Top 5 Lucidchart alternatives

Miro: Best for scalable team collaboration

Miro is an online diagramming tool that allows users to create comprehensive workflows, organizational charts, and flowcharts. Like Lucidchart, it provides a platform for visualizing complex information, making it easier to understand and share. Both tools are designed to enhance collaboration and streamline the process of creating visual representations of data.

While Lucidchart is known for its data visualization and collaboration features, Miro sets itself apart with its extensive template library tailored for various flowchart needs. It also offers integration capabilities with third-party apps like Google Docs and Microsoft Teams, allowing users to share their flowcharts. Additionally, some users have pointed out areas where Miro’s UX/UI could be improved, suggesting that there might be a slight learning curve compared to Lucidchart.

Pros

• Vast template library catering to different flowchart needs.
• Provides tools for creating professional diagrams.
• Syncs with apps like Google Docs and Microsoft Teams.

Cons

• The UI/UX has room for improvement.
• Free version restricted to only 3 boards.

Key features

Extensive template library

Miro understands that every project has unique requirements, and starting from scratch isn’t always the most efficient approach. That’s why it offers an expansive library of templates catering to many flowchart needs.

Whether you’re mapping out a complex business process, visualizing a user journey, or brainstorming ideas, Miro’s templates serve as a foundation, so you don’t have to reinvent the wheel. Professionals created these templates so that users, regardless of their level of expertise, have a useful and attractive starting point.

Diagramming tools

Creating a flowchart is more than just connecting boxes with arrows; it’s about clarity, precision, and aesthetics. Miro’s suite of diagramming tools is crafted to empower users to design informative and visually compelling flowcharts.

With a range of shapes, lines, colors, and text options, users can customize every aspect of their diagram. The platform’s intuitive interface makes sure that, whether you’re a novice or a seasoned designer, crafting a professional-looking flowchart is an exceptional experience.

Third-party app integration

In today’s interconnected digital landscape, integrating with other platforms is invaluable. Miro recognizes this and offers third-party app integration capabilities. Whether drafting a document in Google Docs or collaborating with a team on Microsoft Teams, Miro helps you access your flowcharts with ease. 

This integration capability streamlines workflows, reduces the need for constant switching between apps, and fosters real-time collaboration. With Miro, your flowcharts become an integral part of your broader collaborative ecosystem, and keep everyone on the same page.

Pricing

• Free plan: Includes unlimited team members and 3 active boards.
• Starter plan: Starts at $8/user/mo. billed annually.
• Business plan: Starts at $16/user/mo. billed annually.
• Enterprise plan: Requires custom pricing.

Why choose Miro over Lucidchart

Miro stands out as a versatile diagramming tool with an extensive template library and integration capabilities. Its focus on providing a comprehensive platform for creating and sharing flowcharts makes it a compelling choice over Lucidchart, especially for teams looking for a more integrated and template-rich experience.

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Creately: Best for visual project management

Creately is a versatile tool that combines a simple whiteboard and a powerful database. Designed to foster team collaboration, Creately offers an interactive and functional workspace without downloads or installations. It’s a platform that mirrors Lucidchart in its core objective of facilitating visual collaboration.

While Lucidchart is a popular choice for diagramming, Creately differentiates itself with features like an infinite canvas, real-time text cursors, and mouse pointers. It also boasts advanced sharing permissions, spotlighting and following other collaborators, and integration capabilities with platforms like Microsoft Teams, Slack, and Zoom.

Pros

• Provides infinite canvas for diagramming.
• Allows precise sharing permissions for better collaboration.
• Excellent integration with tools like Slack, Zoom, and Microsoft Teams.

Cons

• Its extensive features can be overwhelming.
• Importing an SVG file can present challenges.

Key features

Visual project management and execution tools

Creately offers visual project management tools that allow users to put anything on a workflow with Kanban boards. The platform supports advanced workflows with multiple boards and timelines.

Tasks can be assigned multiple roles, and there’s a simple My Tasks view for individual tracking. Other features include full-text search, indexes, and the ability to establish dependencies and relationships between tasks.

Advanced diagramming, flowcharting, and whiteboards

Creately supports more than 70 types of diagramming standards, thus providing versatility for various projects. With a library of more than 8,000 professional templates and 200,000 examples, users have many options to kickstart their projects.

The platform also emphasizes a keyboard-first drawing approach with its PlusCreate feature. This means users can prioritize keyboard inputs for faster diagramming. Additionally, Creately offers complete customization for professional diagrams, hand drawing and markup support, and links and connectors for creating navigational flows.

Unlimited visual collaboration

Creately’s platform is designed to foster collaboration among teams. The spotlight and follow part allows users to track other collaborators’ actions, making sure that everyone is on the same page.

Pricing

• Free plan is available.
• Starter: Starts at $5 per month, billed annually.
• Business: Starts at $89 per month, billed annually.
• Enterprise: Requires custom pricing.

Why choose Creately over Lucidchart

Creately stands out with its unlimited visual collaboration features, extensive diagramming standards, and integration capabilities. Its emphasis on both keyboard-first drawing and hand drawing gives users a unique blend of precision and personalization, making it a compelling choice over Lucidchart.

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Draw.io: Best for free, open-source diagramming

Draw.io stands out as open-source diagramming software, meaning users can access its features without cost. Like Lucidchart, it provides a platform for individuals and teams to create a variety of diagrams, such as flowcharts, UML diagrams, organizational charts, and ER models.

The software is browser-hosted, making it accessible across various operating systems, and can be used both online and offline. Its integration capabilities with platforms like Google Drive, OneDrive, Confluence Server/Cloud, and Dropbox make it a versatile tool for collaborative projects.

While Lucidchart offers a range of features and integrations, Draw.io sets itself apart primarily due to its cost-free nature. Despite being a free Lucidchart alternative, it doesn’t compromise on essential features. However, it might have limited design options, making it more suitable for simpler projects. Unlike Lucidchart, which might require a subscription for advanced features, Draw.io offers a no-cost solution without the need for account creation.

Pros

• Completely free to use.
• Effortless integration with platforms like Google Drive, GitHub, and more.
• Users can start without any sign-up process.

Cons

• Lacks some advanced features.
• Zooming issue when opening an existing diagram.

Key features

Desktop and online versions

Draw.io offers a desktop version available for Windows, macOS, and Linux. This is perfect for those who prefer an offline application or want enhanced security. Additionally, Draw.io offers an online version, which is excellent for those who prefer web-based tools. This online version also doubles as a diagram viewer for files created by other diagramming tools.

Mobile diagramming and flexible file storage

For those on the move, Draw.io can be added as a web link on mobile devices for on-the-go diagramming. The platform also offers flexibility in terms of file storage. Users can store their diagrams on Google Drive, OneDrive, GitHub, GitLab, Dropbox, or even on their local device.

Google Workspace, GitHub, Microsoft, and other integrations

Draw.io can be integrated into Google Workspace, allowing users to store diagram files in Google Drive and work with them in Docs, Sheets, and Slides. Similarly, Draw.io works with Microsoft’s OneDrive, Sharepoint, Office 365, and Teams.

For developers and teams using GitHub, Draw.io offers an app that allows access authorization to individual repositories. Beyond GitHub, Draw.io can be integrated into platforms like Notion, Nextcloud, Atlassian Confluence, and Jira, among others. This guarantees that regardless of the platform your team uses, Draw.io can be a part of it.

Pricing

• Free 30-day trial is available.
• Cloud: $20/mo. for up to 20 users; $532.50/mo. for up to 2,000 users..
• Data center: $6,000/yr. for up to 500 users; $10,000/yr. for up to 2,000 users.

Why choose Draw.io over Lucidchart

Draw.io stands out for its open-source nature, wide range of integrations, and flexibility in terms of deployment (online, offline, self-hosted).

Its adaptability to various platforms, from Google Workspace to Microsoft’s suite, makes it a versatile choice for teams of all sizes. Plus, the fact that it offers a robust set of features for free makes it a compelling alternative to Lucidchart.

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Also read: Top Airtable Alternatives & Competitors (2024)

Gliffy: Best for intuitive and user-friendly interface

Gliffy is facilitates team collaboration with its user-friendly editor and interface. Much like Lucidchart, it allows users to create diagrams, flowcharts, wireframes, and more.

As an Atlassian Marketplace app, Gliffy is designed to enhance documentation by providing engaging and relevant diagrams to content. Whether you’re familiar with Lucidchart or new to the world of diagramming, Gliffy offers an intuitive experience for creating visual representations.

While both Gliffy and Lucidchart serve as diagramming tools, the two have some key differences. Gliffy stands out with its customization options, allowing users to add images, modify the color palette, and more. Its drag-and-drop interface simplifies the process of drawing flowcharts and organizational charts online.

Moreover, Gliffy’s integration with platforms such as Slack, Trello, and monday.com streamlines the collaborative process by enabling real-time communication and project tracking. However, users may experience performance issues with Gliffy, as it can become cumbersome and less responsive, mainly when dealing with more extensive, complex charts and diagrams.

Pros

• Provides an intuitive editor and user interface.
• Offers options to tailor charts, including adding images.
• Drag-and-drop feature that simplifies the process of diagram creation.

Cons

• Can be less responsive with larger charts.
• Offers a narrower range of templates compared to competitors.
• Less versatile than Lucidchart.

Key features

Customization

Gliffy’s customization capabilities are designed to cater to the unique needs of its users. Not only can you effortlessly integrate images into your diagrams, but you also have the freedom to play around with a diverse color palette. This feature makes sure that your visual representations align with your brand or presentation theme.

Whether aiming for a professional look or a more creative flair, Gliffy provides the tools to tailor every aspect of your diagrams. From line styles to text fonts, the platform empowers users to make their creations their own.

Online access with Confluence and Jira integration

Gliffy’s online availability gives users access to their diagrams anywhere, anytime, without requiring software installations.

What sets Gliffy apart is its tight integration with Atlassian’s Confluence and Jira. For teams already using these platforms, this means they can embed and edit Gliffy diagrams directly within Confluence pages or Jira tickets. This integration streamlines workflows, making it easier to visualize project timelines, system architectures, or even user journeys right where the team’s documentation and project tracking occur.

User-friendly editor for diverse diagramming needs

Gliffy is designed with simplicity in mind, to help novices jump in and start creating. Its intuitive interface allows users to drag and drop elements, customize shapes, and easily add text.

Whether you’re sketching out a quick flowchart, designing a detailed wireframe for a new website, or mapping out an organizational structure, Gliffy’s editor is versatile enough to handle a wide range of diagramming needs. The tool’s user-centric design approach keeps the focus on conveying information effectively rather than grappling with complicated software mechanics.

Pricing

• Free trial is available. 
• Professional plan: Starts at $8/user/mo. for up to 9 users, billed annually; $6/user/mo. for 10 to 50 users billed annually.
• Enterprise plan: Requires custom pricing.

Why choose Gliffy over Lucidchart

Gliffy offers a blend of intuitive design and customization options, making it a top choice for those seeking an alternative to Lucidchart. Its collaboration features, especially the integration with popular platforms, give it an edge for teams looking to streamline their diagramming process.

If you’re searching for a tool that combines ease of use with powerful features, Gliffy is worth considering.

Visit Gliffy

What is Lucidchart?

Millions worldwide rely on the premier diagramming and visual collaboration platform, Lucidchart. Renowned for its intuitive drag-and-drop functionality, Lucidchart boasts a vast template library catering to diverse diagramming needs, from flowcharts to organizational charts. Its real-time collaboration feature allows teams to work together, and with compatibility across various devices and platforms, users can access and edit their diagrams anytime, anywhere.

Learn more about Lucidchart in our video demo:

What are the limitations of Lucidchart?

Choosing the right Lucidchart alternative

In today’s digital world, the right tools can optimize our workflow. When exploring Lucidchart alternatives, it’s essential to consider your team’s unique requirements. 

Several factors are essential when evaluating alternatives to Lucidchart:

Here are some considerations based on the top Lucidchart alternatives:

Selecting a Lucidchart hinges on carefully assessing your team’s specific needs and workflow preferences. By weighing these options against the critical factors of user experience, collaboration, integration, cost, and compatibility, you can choose a diagramming and project management tool that not only matches but also enhances your team’s productivity and efficiency.

The post Top 5 Lucidchart Alternatives for 2024 appeared first on TechnologyAdvice.

An effective Kanban software combines user-friendly interfaces, flexibility, and features to help teams visualize and optimize their workflow. It should offer customizable boards, task assignments, due dates, and real-time updates. Integration with widely used project management tools, mobile access, and notifications are also valuable.

To help you decide on the best Kanban tool for you, here’s a list of our hand-picked favorites and what sets them apart:

• monday.com is best for its user-friendly interface
• Trello is best for workflow management
• Asana is best for task management
• Jira is best for planning and roadmap tools
• Wrike is best for ready-made templates
• ClickUp is best for project management tools
• Businessmap is best for visualizing workflow

If you don’t see the right choice in this list of Kanban tools, look at our Agile Project Management Software Guide for more options. 

Top Kanban tools

Also read: What Is Kanban?

monday.com: Best for user-friendly interface

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Pros

• Contains a virtual whiteboard and other collaboration tools
• Offers 24/7 customer support
• Has a 14-day free trial for Pro plan

Cons

• Limited integrations on some plans
• Lacks task dependencies

monday.com key features

User-friendly Interface: monday.com’s intuitive interface benefits project managers by allowing for seamless navigation, task management, and collaboration. The visual design, drag-and-drop functionality, and customizable features enable efficient project planning and execution. The intuitive interface helps project managers stay organized, communicate effectively, and streamline their workflow for improved productivity.

Views: Multiple perspectives allow project managers and team members to observe projects and duties. Choose from options such as a table, Gantt chart, Kanban board, and calendar.

View-only and guest access: Options for view-only and guest access can save you money on paid plans. Team members can observe assignments and project progress without a plan—or welcome four guests for the price of one (ideal for collaboration between freelancers).

Pricing

monday.com offers a free subscription.

Basic plan starts at $9 per seat per month, billed annually.

Standard plan starts at $12 per seat per month, billed annually.

Pro plan starts at $19 per seat per month, billed annually.

Enterprise plan: Contact the sales team for a custom quote.

Why we chose monday.com

We choose monday.com for its intuitive interface, allowing easy navigation and collaboration. Its versatility enables customization to match specific workflows and team structures. The platform prioritizes collaboration and communication, facilitating effective project planning and execution.

monday.com is a web-based Kanban software and “work-OS” platform that allows teams and stakeholders to manage their work and track progress on various projects and tasks. It provides a visual and intuitive interface that helps groups organize and streamline their workflows, communicate effectively, and stay on top of their assignments.

monday.com’s interface is user-friendly due to its intuitive design and visual nature, and it enhances usability and ensures a smooth user experience. The platform employs a clean and organized layout with drag-and-drop functionality, making it easy for users to navigate, collaborate, and customize their workflow.

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Also read: The Top Benefits of Kanban for Project Management

Trello: Best for workflow management

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Pros

• Provides real-time visibility of tasks in progress, bottlenecked, or canceled
• Offers free versions to small teams with multifunctional positions
• Intuitive and user-friendly

Cons

• Lacks useful templates, designs, and plugins that would make customization simpler
• Does not permit the export of all boards to a spreadsheet in the free version

Trello key features

Workflow management: Users can invite unlimited users to any project, all of whom can communicate directly with the board. With a few keystrokes, they can provide feedback, attach files, and mention colleagues

Visual organization tool: Boards, cards, and lists are included in the software for collaborative collaboration. Members can upload files directly from Google Drive, Dropbox, and Box, as well as drag-and-drop lists and cards to reflect project progress.

Power-ups and integrations: Users can complete duties without leaving the system because of power-ups. Due to the product’s email integration, users can generate and move cards from their emails. Its integration with other applications simplifies project completion and eliminates the need to transition between applications.

Pricing

Trello offers a free subscription.

Standard plan starts at $5 per user, per month, billed annually.

Premium plan starts at $10 per user, per month, billed annually.

Enterprise plan starts at $17.50 per user, per month, billed annually.

Why we chose Trello

We choose Trello because it offers a simple and intuitive interface for quick adoption and ease of use. It provides a flexible and visual approach to project management, allowing users to customize boards and cards to match their workflow. Trello’s collaboration features, such as comments, attachments, and notifications, facilitate effective team communication. The platform also integrates with various tools and offers mobile apps for accessibility. Overall, Trello’s user-friendly design, flexibility, and collaborative features make it an appealing choice for project managers.

Trello is a simple collaboration tool that enables you to monitor all your employees’ work progress in a single application. This software uses cards, lists, and Kanban boards to track every project assignment. It is an excellent tool for organizing, planning, and sharing information with your entire team, simplifying tracking and managing your projects.

It offers several key features for project management. Users can create and assign tasks, set due dates, and add labels and attachments. The platform supports collaboration by allowing team members to comment on cards, attach files, and receive notifications. Users can create checklists, set priorities, and track progress with activity logs. Additionally, Trello integrates with various third-party apps and services, offers mobile apps, and provides automation capabilities through Power-Ups and Butler.

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Also read: The Versatility of Kanban Boards in Project Management

Asana: Best for task management

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Pros

• Offers a free plan available for up to 15 users
• Enables users to customize task template
• Personalized “My Tasks” dashboard for each stakeholder

Cons

• Lacks the option to assign multiple users to a task
• Few alternatives for data export

Asana key features

Task management: Asana’s task management tracks tasks from beginning to end, enables users to delegate subtasks to colleagues, and sets deadlines to ensure projects are completed on time. Asana enables teams to prioritize tasks, manage time more efficiently, and meet deadlines using a single application. It also facilitates the exchange of files, feedback, and ideas.

Automation: Automation simplifies workflows, reduces errors, and frees up team members to focus on the next big event. Asana’s automation capabilities ensure the team never misses a crucial step and delivers value more quickly. Managers can also use Rules to automate repetitive duties so that team members do not have to consider them. Additionally, users can convert common projects into custom templates. Asana’s audit trails and error alerts inform Rule proprietors of any issues that arise.

Workflow Builder: By automating processes and keeping work flowing, the Workflow Builder enables users to coordinate work across teams in a seamless manner. Organizations can create more efficient workflows with this visual tool by integrating team members, harmonizing work, and streamlining projects in a single location. Within workflows, users can connect the right people with the right information at the right moment, allowing the team to concentrate on the work that matters.

Pricing

Basic plan is free.

Premium plan starts at $10.99 per user, per month, billed annually.

Business plan starts at $24.99 per user, per month, billed annually.

Enterprise plan requires custom pricing.

Why we chose Asana

We choose Asana because it offers comprehensive features, including task management, project planning, and team collaboration tools. Its clean and intuitive interface enhances usability. Asana’s customizable dashboards, timelines, and advanced reporting capabilities provide valuable insights and help track project progress. Integration with popular apps and services allows for seamless workflow integration. Additionally, Asana offers robust communication features like commenting, file sharing, and notifications, facilitating efficient team collaboration. Overall, Asana’s feature-rich platform, user-friendly interface, and collaboration capabilities make it a preferred choice for project managers.

Asana is a web-based project management software that enables teams to manage projects, prioritize what’s most essential, and organize their work in one central location for seamless collaboration. From the minute to the monumental, the platform coordinates work so that teams know what to do, why it is important, and how to complete it. It enables organizations to manage company objectives, digital transformations, product launches, and marketing campaigns.

Asana offers web and mobile applications that enable teams to remain on track, organize projects, and meet deadlines regardless of their location. Additionally, the software serves as a collaboration instrument. Managers can synchronize team assignments so that everyone is aware of their responsibilities, and coworkers can share feedback, files, and status updates. Asana provides a comprehensive view of work and enables teams to focus on the appropriate duties at the right time. Team members are able to view the project’s progression, monitor individual duties, organize sprints, and successfully launch products.

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Jira: Best for planning and roadmap tools

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Pros

• Offers tailored project management tools for dev teams
• Provides easy access to important data through roadmaps, charts, and reports
• Customizable dashboards
• Extensive integrations

Cons

• Steep learning curve, setup complexity
• Less user-friendly

Jira key features

Agile project management: Jira almost has everything you need to run an agile project. It has Scrum and Kanban boards that show the state of projects and burndown charts that show how the team is doing. It also makes it easy to plan sprints with points, so you don’t need any other apps. The different Scrum reports in Jira can help you hold a better, more data-driven review after your sprint.

Roadmaps: Jira roadmaps make it easy to see how teams, projects, and tasks are doing across all of them. Roadmaps let you see how tasks depend on each other and how much time your team has, so that you can make better plans. Advanced Roadmaps can let you create versions of your roadmap for the worst and best cases.

Automation: Jira lets you set up your workflow so that it takes care of jobs you do repeatedly. It can, for example, give team members jobs, send emails to clients, hand off projects, and do other things. You can also use its “no-code” automation engine to build an automated process that fits your needs. However, Jira limits the number of automatic rules you can use monthly. You can only have 100 rules with the free plan, but with the Premium plan, you can have 1,000.

Pricing

Jira offers a free subscription.

Standard plan starts at $7.75 per user per month.

Premium plan starts at $15.25 per user per month.

Enterprise plan requires custom pricing.

Why we chose Jira

We choose Jira because it offers specialized project management and roadmap tools tailored to development teams, allowing for efficient bug tracking, version control, and sandbox environments. Its robust reporting and data visualization capabilities provide valuable insights for planning and decision-making. Jira’s extensive marketplace of integrations enables seamless connectivity with various tools, enhancing functionality. While Jira may have a learning curve and lacks certain features, its technical focus and tailored solutions make it a preferred choice for project managers in the software development industry.

Jira is a collaboration tool that helps users manage tasks, prioritize projects, and meet deadlines. This program can expedite the execution phases of your project’s development. With Jira, you can access crucial, actionable insights for achieving your objectives.

It takes a unique approach to task administration. Most out-of-the-box Jira workflows are intended to assist teams in building, testing, and releasing software; however, custom workflows can be designed for use in other product development and Agile scenarios. Jira’s task management features are explicitly integrated into an Agile framework, so non-software development teams will likely have less flexibility with Jira.

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Also read: Trello vs. Jira: Top Agile Project Management Tool (2023)

Wrike: Best for ready-made templates

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Pros

• Comes with advanced task and project management features
• Provides flexible and customizable workflows
• Offers real-time collaboration and communication capabilities

Cons

• Limited reporting and analytics functionality
• More expensive

Wrike key features

Ready-made templates: These templates provide predefined structures, workflows, and task lists that align with specific project types or industries. By utilizing these templates, project managers can quickly set up projects, saving them from starting from scratch and ensuring consistency in project management practices. This feature reduces the learning curve and empowers teams to get started swiftly, making Wrike an attractive choice for organizations seeking a streamlined and efficient project management process.

Collaboration: Users can approve assets, give comments, and work with other departments with this solution. It gets rid of cumbersome worksheets and old files. Wrike makes it easy to proof and approve documents, keeps track of different versions of documents, and has interactive request forms.

Client and resource control: Wrike keeps clients in the loop, stores papers safely, and ensures that staff and other resources are best used. With Wrike Lock, team members can make custom reports for clients and share them with them. They can also protect private client data. Wrike also has ways to keep track of time and money.

Pricing

Wrike offers a free subscription.

Team plan starts at $10.00 per user, per month.

Business plan starts at $24.80 per user, per month.

Enterprise & Pinnacle plans require custom pricing.

Why we chose Wrike

We chose Wrike due to its advanced task and ready-made templates, customizable protocols, and seamless app and tool integration. Its capabilities for real-time collaboration and communication increase team productivity. The availability of ready-made templates provides a structured approach to project management and saves time. Although there is a learning curve, Wrike’s functionality, adaptability, and effectiveness make it an attractive option for project managers seeking a comprehensive and customizable solution for their teams.

Wrike is an all-inclusive platform for collaboration and project management that revolutionizes teamwork. Every task and undertaking is more productive and efficient due to the software. Wrike monitors the team’s project performance and accomplishments. It provides the necessary insights via visual, dynamic reports that are shareable with all stakeholders. With Wrike Resource, the solution also enables the management of team bandwidth.

Wrike’s time and effort monitoring and workload management capabilities guarantee that team members are well-spent and well-rested. Wrike provides businesses with all the benefits of a cloud-based platform and the ability to manage data as if on-premise. It provides teams with enterprise-grade security and complete encryption control. Wrike’s Kanban boards, Gantt charts, time tracking, custom request forms with auto-assignment, performance reports, resource management and allocation, automated reporting, and shared workflows enable teams to streamline management.

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ClickUp: Best for project management tools

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Pros

• Has tools for project management, collaboration, and workflow
• Offers 24/7 customer service in all plans
• Provides formula-based calculation

Cons

• Fewer integrations
• Lacks free trials

ClickUp key features

Customization: ClickUp is fully customizable, allowing users to administer any project without coding or add-ons. With a variety of ClickApps that add a variety of functionalities, team members can adapt duties to any work requirement. In addition, users can save time by automating tasks, assigning Sprint Points, and adding Custom Fields.

Project management: With ClickUp, organizations can enhance time tracking, allowing employees to concentrate on their work. Additionally, teams can set estimates, add notes, and view time reports from any location. With the Chrome extension for the platform, users can record time from a desktop, mobile, or web browser. The software enables the linking of tracked time to any active endeavor. The global timer permits starting and stopping time from any device and switching between assignments.

Reporting: With ClickUp’s reporting features, team members can set goals, monitor progress, and manage resources more effectively. The Workload and Box views enable managers to visualize the team’s daily work capacity. They can determine who is under or overcapacity to eliminate bottlenecks and effectively allocate resources. In addition, users can access and generate detailed reports for time-tracked and billable time. ClickUp reports disclose the accuracy of estimates, allowing teams to plan future projects efficiently.

Pricing

Clickup offers a free subscription for personal use.

Unlimited plan starts at $7 per user, per month, billed annually.

Business plan starts at $12 per user, per month, billed annually.

Enterprise plan requires custom pricing

Why we chose ClickUp

We choose Clickup for its wide range of project management features, including task management, collaboration tools, time tracking, and goal setting. ClickUp offers a highly customizable interface and allows for seamless integration with other apps and platforms. Its user-friendly design, intuitive navigation, and flexible hierarchy enable efficient project organization. Additionally, ClickUp provides robust reporting and analytics capabilities, empowering project managers with valuable insights for decision-making. Overall, ClickUp’s comprehensive feature set, customization options, and ease of use make it an attractive choice for project managers seeking a versatile project management solution.

ClickUp is a cloud-based project administration and collaboration service for organizations of all sizes. Its unique hierarchy enables users to construct an optimal structure that scales to accommodate various business requirements. Each platform level provides greater latitude and control for organizing everything from small teams to large enterprises. It consolidates all tasks in one place. Whether the user is proofing ads or working on sprints, the software is entirely customizable for all team types and sizes. Its capabilities encompass both design and development.

Additionally, it supports modularity with add-ons known as ClickApps, enabling extensive customization for each team separately. ClickUp includes documents, reminders, objectives, calendars, and an inbox. It offers Assigned Comments, LineUpTM, and Box View for managing personnel. The platform aims to increase productivity by reducing the friction from using numerous applications.

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Businessmap: Best for visualizing workflow

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Pros

• Offers customizable Kanban project boards for tailored workflow management
• Has a time-tracking feature to monitor and optimize task performance
• Provides analytics and reporting capabilities for tracking project metrics and efficiency

Cons

• Overwhelming interface, per some users
• Limited native integrations with third-party tools

Businessmap key features

Visibility and Portfolio Management: Kanbanize provides a visual representation of projects, initiatives, and portfolios, allowing users to track progress, dependencies, and automatically forecast blockers and risks.

Scalability: Kanbanize allows for natural horizontal and vertical scaling, accommodating single teams to thousands of teams and extending to the CEO level without disruptions.

Strategy Execution: The platform enables the deployment of corporate strategy through cascading initiatives, aligning all levels of the organization, and ensuring seamless execution.

Businessmap Pricing

Kanbanize offers a free trial.

Annual plan starts at $149 per month for 15 users, billed annually.

Why we chose businessmap

Kanbanize has unique scalability, seamless strategy execution through cascading initiatives, comprehensive visibility across projects and portfolios, and the ability to optimize workflows based on sophisticated flow metrics. Kanbanize’s emphasis on scalability, strategy alignment, visual tracking, and workflow optimization makes it attractive for project managers seeking a flexible and efficient project management solution that can accommodate different team sizes and align with their organizational strategies.

Businessmap, a cloud-based business process management service, offers lean workflow management for SMBs and large enterprises across various industries and countries. Its customizable Kanban project boards, collaboration tools, time-tracking, email integration, and analytics facilitate efficient work processes. The software enables the application of Lean and Kanban principles, helping teams achieve productivity goals. Project managers can handle multiple projects simultaneously with their card and hierarchy systems.

Run-time policies automate recurring tasks, notifications, portfolio board rules, and batch updates. Its automated reports provide insights into lead and cycle times, efficiency, throughput, and billable hours. The platform’s premium analytics offer Monte Carlo simulations for productivity forecasting.

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The post Best Kanban Software & Tools for 2024 appeared first on TechnologyAdvice.

A Gantt chart is a visual tool that displays project assignments, durations, and dependencies in a timeline format. Gantt charts help project managers and teams monitor progress, allocate resources, and manage timelines efficiently. If you want to know how to make a Gantt chart in Excel, you came to the right place.

Project management software programs like Asana, Wrike, and Smartsheet can help you create a Gantt chart. However, one software that stands out is Microsoft Excel. Its grid-based interface allows for easy organization of tasks, durations, dependencies, and milestones.

Excel’s customization options enable you to tailor the chart to your specific needs, such as adding labels, colors, and progress indicators. The good thing is that you don’t need to be an Excel expert to create a Gantt chart. While having some familiarity with Excel can certainly be helpful, creating a basic Excel Gantt chart can be achieved by following these simple steps below.

How to make a Gantt chart in Excel: A step-by-step guide

Here’s a straightforward step-by-step guide on how to create a Gantt chart in Excel. By following these instructions, you’ll be able to visualize your project timeline effectively and track your tasks with ease.

1. Make a table for all of your project information.

Before creating the Excel Gantt chart, you must prepare the data upon which it will be based. In the Excel sheet, input your project details in table format. Since a Gantt chart resembles a timeline, the following information must be included in your table:

• Task names (or task descriptions)
• Start date
• End date
• Task duration

To get the value for task duration, simply subtract the start date cell from the end date cell. Here is a sample of how it would appear in Excel. Assuming your start date is in cell B2 and your end date is in cell C2, you can calculate the duration using the following formula in another cell (let’s say cell D2): =C2 – B2

Also read: How to Use an Agile Gantt Chart for Project Management

2. Add an Excel bar chart

Excel offers a variety of bar chart types, but a Stacked bar chart should be used to construct a Gantt chart. This will be the substructure of your Gantt chart.

To create an Excel stacked bar chart:

• Click on a blank cell on the same sheet as your project table. 
• Select the Insert tab from the Excel menu.
• Select the 2D Bar group within the Charts group, followed by the Stacked Bar option.
• A blank box will then appear. 

3. Using the data from your project to create the bar chart.

For the bar chart to appear, it has to reflect data. Right-click on any space in the chart area and click Select Data. A dialogue box will appear, and this is where you can start entering the data.

Begin by adding the start dates.

• Under the Legend Entries (Series), click Add.
• The Edit Series pop-up box will appear.
• For the Series Name, click on the “Start Date” cell.
• For the Series Values, you should highlight the full range of the start dates.
• Click OK.

The next set of data that you need to add is the duration.

• In the Select Data dialogue box, click Add.
• For the Series Name, click the “Duration” cell.
• Similarly, highlight the range of cells under duration for the Series Values. 
• Click OK.

At this point, the stacked bar Excel chart will start to resemble a Gantt chart. It will look something like this:

Now that the data for the horizontal axis are all set, it’s time to add the data for the vertical axis.

• Start by launching the Select Data box (right-click on any space in the chart and click Select Data).
• This time, click Edit under Horizontal (Category) Axis labels. You can find this on the right-hand panel.
• Highlight the range of the tasks or task descriptions (excluding the column header).
• Click OK.

Guide continues below. ↓

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4. Format the chart

Now that your stacked bar is up and it reflects the data you need for a Gantt chart, it’s most likely in blue and orange looking like this:

If it does, that’s great! That means you’re only a few steps away from turning it into a proper Gantt chart. It just needs a few tweaks and customization.

• First, right-click on the blue section of the bar and click on Format Data Series.
• The formatting options will appear on the right-hand side of the screen.
• Click the icon that looks like a paint bucket, and then click Fill.
• Tick the bullet point for No Fill.

At this point, only the orange bars are visible, and it’s starting to look like a Gantt Chart.

What you need to do next is to rearrange the project tasks correctly.

• Begin by right-clicking on the vertical axis (in this case, the tasks or task descriptions) to launch the Format Axis pane on the right-hand side.
• Under the Axis Options, you have to put a check in Categories in reverse order.  
• Once you do that, the data markers will move from the bottom to the top, making it look like a proper Gantt chart.

Also read: Gantt Charts for Project Management: A Guide

5. Customize your Gantt chart

After following all the steps above, you are now familiar with how to create Gantt chart in Excel. You now have a proper visual of your project tasks and duration. But you can make this chart even better by customizing the colors according to your preference.

Here are some additional customizations you can do:

• Change the bar charts from 2D to 3D format. You can even add shadows.
• Modify the color of the bars.
• Adjust the width (make them wider or thinner).
• Add chart elements such as a chart title, legend and gridlines.

Remember, a good Gantt chart should have a clear structure, show the project timeline, and how resources are used. To ensure its reliability, you should update the data accurately and promptly. You can also use color coding and conditional formatting to show success and make the chart easy to read. By following these steps, you can make a clear Gantt chart for planning and managing projects.

Looking for the latest in Gantt Chart solutions? Check out our Gantt Chart Software Guide.

The post How to Create a Gantt Chart in Excel appeared first on TechnologyAdvice.

Project charter definition

A project charter is a key document in project management that formally authorizes a project’s launch. Essentially, it’s the green light that sets the stage for the project, ensuring everyone involved has a clear understanding of the project’s purpose and direction.

Project charters are widely recognized across industries as the foundational document to kick off any project, but the concept of a project charter finds its roots in business and engineering practices. In these industries, a project’s documentation is essential to ensuring alignment on goals and expectations. As project management methodologies have evolved, the project charter has become a standard tool in the Project Management Body of Knowledge (PMBOK).

Parts of a project charter

At a minimum, a project charter should include the following information:

Learn more about project charters in this video overview:

Project charters vs. project plans

While a project charter is a foundational document that kickstarts a project by offering a brief overview, a project plan is a more specific roadmap for the project’s execution, monitoring, and control. This roadmap includes details like timelines, resources, budgets, and potential risks.

Without the charter, it would be difficult to know where to start, and without the plan, it would be difficult to know what to do next. The table below illustrates how the information from the charter lays the groundwork for the project plan.

Also read: Defining a Project Management System

How to write a project charter

By following these steps, you can craft a charter that sets your project up for success.

1. Summarize the project purpose and justification

Begin by clearly articulating the reasons for undertaking the project and the specific problem or opportunity the project aims to address. Ensuring the project aligns with the organization’s strategic objectives is essential, but so is brevity — avoid adding details that are more relevant to the project plan.

2. Determine the scope

Establish the boundaries of what activities, outcomes, and deliverables will be included in the project. Specifying what falls outside the project’s purview is equally important to prevent scope creep. Even if an out-of-scope task is valuable, it’s usually best to save it for a future project to avoid throwing the current project off course.

3. Identify stakeholders

List everyone with a vested interest in the project, including team members, contractors, clients, and sponsors. Clarify each person’s role and highlight key stakeholders with decision-making authority. This will be particularly valuable for creating approval workflows and preventing bottlenecks in the planning phase.

6. Set the budget

Provide an overview of the project’s estimated costs and financial resources. Like the purpose statement, this should be brief. Save the specific expense categories for the project plan, but include details about expected funding sources, tracking measures, and the project’s broader financial impact.

7. Define milestones and timing

Outline the high-level goals for the project and provide a general timeline. The details will be covered in the work breakdown structure and project schedule, but this will give stakeholders a general sense of the project’s duration and major checkpoints.

8. Discuss risks and assumptions

Pinpoint potential challenges and limitations that could affect the project’s trajectory. This may include compliance requirements, supply chain uncertainties, budgetary restrictions, staffing challenges, and other variables. Summarize the contingency plans for risks that are particularly significant so stakeholders are aware of alternate paths.

Why do we need a project charter?

The project charter’s significance lies in its ability to provide a clear understanding of why the project exists and what it aims to achieve.

As a project’s north star, the charter safeguards against scope creep and budget overruns. It also sets clear expectations for stakeholders, creates a baseline for accountability, and helps avoid confusion, conflict, and misunderstanding down the line.

Some project management tools like Wrike, Asana, and Smartsheet include features that help you create standardized project charters quickly and easily. Check out our Project Management Software Guide to compare these and hundreds of other solutions alongside our top recommendations.

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What is severance pay?

Severance pay is compensation or other benefits employers provide employees following termination. It can help keep an employee’s relationship amicable while offering them a way to pay for expenses as they look for a new job.

In exchange for severance pay, employers often require employees to sign a general release of claims to deter employees from filing lawsuits against the company. As such, severance pay is often one aspect of a larger severance package employers negotiate with their employees upon their departure. 

Typically, an employer will offer severance pay if one of the following scenarios occurs:

• Employee layoff.
• Reduction in force (RIF).
• Mutual separation agreement between employer and employee.
• Special circumstances, such as cutting ties with low performers.

Learn how to help low performers course correct and succeed in their roles with a performance improvement plan. 

Elements of a severance package

At a minimum, severance pay usually includes salary continuation for a set number of weeks, either paid all at once or over a set period. You can also include benefits continuation, unemployment insurance, compensation for unused paid time off, retirement benefits, outplacement services, and other miscellaneous benefits in their severance package.

How is severance pay calculated? 

Several variables affect the calculation of severance pay like tenure, seniority, existing company policies, and reason for termination.

Learn best practices for managing tough transitions: How to Fire an Employee (and Stay Out of Trouble)

Severance pay best practices

Suppose you decide to put a severance agreement policy in place. In that case, you must put the agreement in writing, make sure it’s legally compliant, provide time for the employee to review it, follow through on its commitments, and remain consistent with all employees in the same situation.

Put it in writing

It is critical employers put your severance pay agreements in writing. This provides a record that both parties, you and the employee, agreed to the terms of the severance package in case of a lawsuit. You may also consider outlining a general severance pay policy in your employee handbook indicating what circumstances qualify employees for severance pay agreements. 

To craft an effective severance pay agreement, you should consider the following questions: 

• Why is the employee receiving a severance package? 
• What is included in the severance package?
• How is/are the severance payment(s) calculated? 
• If benefits will continue, how will the payments be handled?
• How are unemployment insurance benefits handled? 
• How will the employee receive their severance pay?
• When will the employee receive their severance payment(s)?
• Will the employee be required to sign a release of claims before receiving pay?
• How long does the employee have to review the severance agreement?
• Is there an appeal process? If so, what are the steps?

After collecting the answers to the above, employers should prepare a clearly defined severance agreement with them. You can use Rippling’s customizable workflow recipe to automatically notify payroll whenever an employee is laid off involuntarily. This will alert them to prepare and calculate the severance package.

Also, Bambee can help you draft a legally compliant severance agreement that considers both the employer’s and employee’s best interests by providing access to HR experts who understand the nuances of employment law. Their expertise can ensure that all terms in the severance agreement are both fair and equitable.

Include relevant waivers and clauses

If you want the employees to sign a waiver of discrimination claims in the severance agreement, you must make sure the claims are legal and enforceable. In particular, employers must comply with the requirements of the Age Discrimination in Employment Act (ADEA) and the Older Workers Benefit Protection Act (OWBPA).

Under the ADEA and the OWBPA, workers 40 years of age or older must have at least 21 days or 45 days to accept the severance agreement, depending on the termination reason. Even if the worker is younger than 40, employers should provide adequate time for the employee to review the severance agreement before making a decision.

Additionally, a revocation clause — a section indicating how long an employee has to revoke a severance agreement signature — is another measure employers can take to strengthen their severance agreements. For instance, it shows employers provided plenty of time for employees to decide on the terms of their severance agreement, making it harder for employees to dispute the agreement later. 

Consult legal experts

Severance agreements can be difficult to draft, and even the best HR teams should consider getting theirs checked by legal experts before presenting them to their employees. You could save time and money from future lawsuits by investing in a professional employer organization (PEO) to review severance agreements beforehand. 

Small businesses with no dedicated HR department, especially, should have an employment law attorney construct the severance agreement on their behalf so they can dedicate their time to matters of higher priority while remaining compliant. For example, ADP TotalSource is a PEO that allows small businesses to outsource specific HR needs, which includes handling severance agreements. ADP TotalSource can act as the employer of record and oversee several aspects of employee terminations, including severance agreements.

Present the agreement to the employee

Severance agreement in hand, it’s time to present it to the employee. You should not be surprised if the employee attempts to negotiate the terms of the severance agreement.

Depending on the circumstances, the employer may not want to negotiate with the employee. However, you should update any changes to the agreement and then provide the allotted time for employees to accept or decline the offer. Employees should then sign the agreement whether they disagree or agree with the terms for the employer’s records.

Follow through on severance obligations

If the employee accepts the severance pay agreement, you should ensure they uphold their end of the bargain.

• Your payroll department should know how and when the separated employee will receive their severance pay. 
• Benefits administrators should send out any necessary COBRA paperwork and continue paying the employer’s portion of premium payments if applicable. 
• Managers should avoid protesting unemployment claims for the employee after they’ve received their severance pay. 
• HR teams should also double-check that the severance agreement is administered appropriately by all departments on an ongoing basis. 

By providing a smooth severance pay experience, employers demonstrate a willingness to support their employees’ well-being, even after they are gone. 

Enforce severance policies consistently

Consistency is important. It shows employees that you are dedicated to treating everyone in the same situation fairly and equitably. Even offering severance pay to an employee under special circumstances, outside their usual cadence, could set a precedent. To avoid this and remain consistent, employers should keep track of what was included in their severance packages and who received them for future reference.

FAQs

The post What is Severance Pay? Employers Guide to Severance Packages appeared first on TechnologyAdvice.

If that’s you, consider some of my favorite Gusto alternatives below: 

What are the top Gusto alternatives?

Zoho People: Better at talent acquisition

Zoho People is a cloud-based HR solution that helps HR professionals manage tasks in every aspect. From recruitment to onboarding, leave and attendance tracking, and exit procedures, Zoho People can help streamline these tasks. Apart from being scalable, Zoho People also integrates with other software solutions within the Zoho ecosystem.

However, it is important to stress that Zoho People gets its recruiting capabilities by integrating with Zoho Recruit. To take advantage of Zoho’s talent acquisition features, you need to get both Zoho People and Zoho Recruit.

Zoho People, when integrated with Zoho Recruit, stands out when it comes to talent acquisition because of its features meant to simplify the recruitment process, as opposed to Gusto, which is primarily focused on providing payroll. Zoho Recruit’s applicant tracking system, a feature that automates recruitment by tracking and managing job applications, can sort, filter, and rank candidates according to their qualifications. It also automates various recruitment tasks, like interview invitations and candidate feedback requests. 

Learn more about Zoho People →

ADP Workforce Now: Better scalability

ADP Workforce Now is an all-in-one human resource management system that caters to medium and large-sized organizations. Like Gusto, it helps HR professionals process payroll, benefits, time, and labor management. ADP Workforce Now integrates with 485 platforms to streamline employee tracking, data analysis, and strategic planning processes. 

ADP Workforce Now suits growing companies because of its scalability and features for managing global workforce, advanced analytics and reporting. It also helps management and the HR team ensure that everything in the workplace complies with labor laws. 

ADP provides detailed insights with its ADP DataCloud. This feature can provide labor costs, employee turnover, compliance, and performance metrics analytics. These advanced reporting capabilities allow companies to make informed decisions and benchmark against industry standards. This level of detail and predictive analytics distinguishes ADP from Gusto, which focuses on basic reporting.

Learn more about ADP Workforce Now →

Key features

Payroll management 

ADP Workforce Now simplifies payroll operations with its automated system that ensures accuracy, compliance, and efficiency. It calculates employees’ pay based on work hours and incorporates deductions such as taxes and benefits contributions. This key feature will reduce the risk of errors that occur with manual calculations. While Gusto is significantly easier to use than ADP, its simplicity limits customization options, which makes it less suited for handling complex payroll and tax requirements.

Core HR features

ADP Workforce Now offers features that support core HR activities For example, it has a centralized employee database that holds employee records and documents. This makes it easy for managers and HR teams to access employee information quickly.

In addition, ADP Workforce Now includes a self-service portal where employees and managers can log in and manage their HR-related tasks, such as updating personal information, requesting time off, and accessing company policies.

Pricing

ADP Workforce Now has three plans: Select, Plus, and Premium. However, you need to contact ADP to get pricing details. 

• Quote based on the number of employees, subscription tier, and add-ons needed.
• Additional expenses for HR services, like recruiting and onboarding, LMS, and compliance management. 

Reasons to choose ADP Workforce Now over Gusto

• Its scalability makes it suitable for medium to large businesses anticipating growth or having varying HR demands.
• More extensive range of HR functionalities than Gusto. 
• It has global compliance features that are ideal for multinational companies. 

UKG Ready: Better in analytics

UKG Ready is noted for its flexibility in meeting the HR needs of different industries. Similar to ADP Workforce Now, UKG Ready also offers a comprehensive set of solutions such as payroll, talent management, and time and attendance. While users have reported some issues integrating UKG Ready, it was recognized for its customizable interface that benefits employees and managers. 

UKG Ready surpasses Gusto with its advanced analytics features, which provide detailed reports on labor costs, compliance, and productivity. Its reporting capabilities also identify workforce trends, which helps with employee scheduling and decision-making. Managers and HR professionals can also create custom reports for their industry needs. 

Learn more about UKG →

Rippling: Better in global payroll

Rippling is an all-in-one HRMS for organizations that need IT and app management in addition to HR functions like payroll, benefits administration, and time-tracking. 

One of Rippling’s key advantages over Gusto is its international payroll feature. It helps you to manage payroll across multiple countries’ diverse currencies, tax systems, and labor laws. This functionality is a game-changer for companies with a global workforce, simplifying complex payroll processes. 

Learn more about Rippling →

Key features

Employer of record services

Rippling’s Employer of Record (EOR) helps organizations grow their workforce in countries where they don’t have a legal entity. It eliminates the need to set up local entities, making it a better choice over Gusto because it simplifies the expansion process by managing overseas payroll, taxes, and compliance without the overhead of establishing and maintaining multiple international legal entities.

Payroll management.

Rippling payroll management has a suite of features that not only streamlines payroll calculation but also ensures compliance, as well as timely and convenient payment to employees. With Rippling’s automated payroll, you can accurately calculate your employee’s pay, taxes, and benefits. This automated payroll processing reduces manual errors.

Rippling also supports multi-country payroll. It accommodates different currencies, tax systems, and payroll regulations. It also promotes transparency with this self-service portal, where employers and employees can access pay stubs, tax documents, and payroll history. 

Rippling helps save time by simultaneously processing payroll for contractors and employees during a single payroll run. In contrast, Gusto typically requires separate payroll runs for contractors and employees, which makes Rippling a more efficient choice for businesses managing diverse types of workers.

Pricing

Customers must purchase Rippling Platform first, which starts at $8 per employee per month. And then get Rippling’s U.S. and Global Full-Service Payroll as an add-on feature.

Reasons to choose Rippling over Gusto

• It’s an all-in-one platform that offers payroll, benefits administration, and IT management. 
• Rippling minimizes manual workload and boosts accuracy with its automated payroll feature. 

Paycor: Better employee relations

Similar to Gusto, Paycor is an HR solution that will benefit startups in businesses to medium-sized companies because it has tools for payroll management, performance evaluations, and employee development integrated into a single platform that scales with business growth. Paycor is a human capital management (HCM) system with a comprehensive set of features like payroll management, time and attendance, onboarding, and benefits administration. On top of these, Paycor is also noted for its strength in performance management.

When it comes to employee relations, Paycor stands out over Gusto with its customizable review templates, OKR-based goal setting, and continuous feedback mechanisms. These tools foster active engagement and development and are more effective for managing employee performance than Gusto’s simpler setup.

Learn more about Paycor →

Key features

Performance management tools

Paycor includes tools useful to HR professionals in evaluating and improving employee performance. This feature encourages a culture of being receptive to feedback and development and aligns individual goals with the company objectives. While Paycor enables goal setting and tracking, using objectives and key results (OKRs) to foster priority alignment across the company, Gusto provides basic performance review tools, primarily focused on streamlined feedback and simple evaluations. Paycor also simplifies performance reviews with its customizable templates and scoring system. 

Learning management system

Regarding LMS, Paycor stands out over Gusto because it allows administrators to create and customize training modules. In contrast, Gusto does not offer a native learning management system. There is also a library of pre-built courses that cover a wide range of basic lessons, such as workplace safety and soft skills. This learning management system feature also tracks employees’ progress in the training.

Pricing

Paycor’s pricing structure offers specific plans for small businesses and mid-market companies. Overall, Paycor’s approach is to provide scalable, customizable solutions that grow with your business needs.

• Basic plan starts at $99 per month plus $6 per employee per month.

Reasons to choose Paycor over Gusto

• It helps in succession planning by identifying and developing internal candidates for critical leadership positions. 
• Strong performance management tools to encourage employee development through career growth and cross-company goal setting.

What are Gusto’s limitations?

Gusto is an excellent choice for payroll processing, especially for small and midsize organizations. However, you might want to consider looking for alternatives if: 

Choosing the right Gusto alternative

Gusto’s strength lies in its user-friendly payroll and implementation. Still, if you find it lacking in areas like talent acquisition, reports and analytics, employee relations, or specific integrations, you might want to explore alternatives and consider one of these options:

Explore our HR Software Guide for a complete list of solutions to fit your needs.

The post Top 5 Gusto Competitors & Alternatives for 2024 appeared first on TechnologyAdvice.

What is a project plan?

A project plan outlines the project’s scope, objectives, and schedule; it details what needs to be done, when, and by whom. The plan includes significant deliverables, methods to achieve them, team roles, stakeholder feedback, and milestones. This transparency makes sure everyone involved understands their role and how it contributes to the overall goal.

A project plan is the tangible output of the second phase of project management, project planning. This phase involves identifying and arranging each task necessary to cover the project’s scope, achieve deliverables, and meet the project’s goals. A comprehensive project plan developed in this phase is instrumental in tracking dependencies, staying updated on the status, and maintaining productivity throughout the project.

What are the key elements of an effective project plan?

A well-prepared project plan requires several key elements that will outline the project’s goals and define the stakeholders‘ individual roles. Incorporating these key elements into a project plan is essential for effective project management and a higher success rate.

How do you create a project plan?

Step 1: Define the project’s overall goals and objectives

Identifying your project’s overall objectives and goals will help you measure the project’s success and keep your team aligned with the overarching mission. In this step, you should determine the desired outcome of your project that would represent its success.

By clearly understanding what the project aims to accomplish, project managers and teams can better identify the necessary tasks and establish the project scope. 

When defining your project goals, apply the SMART standards for a solid foundation. Make your objectives specific, measurable, achievable, relevant, and time-bound. This approach guarantees a clear, focused, and actionable framework for your project.

Step 2: Establish the project’s success criteria

To measure success effectively, align your success criteria with the project’s key deliverables and outcomes, and make sure they are based on its intended result. Confirm that these criteria are quantifiable and accurately reflect the impact and value your project aims to deliver. Such alignment is essential for accurately assessing the project’s performance and its effectiveness in achieving the intended results.

Step 3: Identify project milestones, dependencies, risks, and deliverables

To identify project milestones, break the project down into key tasks and outcomes and specify significant progress points or phase completions as milestones. Consider dependencies when establishing a realistic workflow. Additionally, identify potential risks that can impact task completion and define deliverables clearly as measurable results expected from each project phase.

Step 4: Assign roles and responsibilities to the team and stakeholders

Your project’s stakeholders include any individuals or groups related to the project. To assess if someone is a stakeholder in a project, determine how much they influence, impact, or have an interest in the project’s outcome. Consider if their involvement is direct, if the project’s results affect them, or if they can influence the project’s direction or success.

Examples of stakeholder groups include:

• Team members.
• Departments.
• Customers.
• End users.
• Project sponsors.
• Partners.
• Contractors.

Once you have determined your stakeholders, you can define their roles and responsibilities. This can help you structure your project team, identify members who are directly responsible for its success, and make sure they are assigned the correct tasks to carry out the project appropriately.

When assigning roles and responsibilities, utilize a RACI chart (Responsible, Accountable, Consulted, Informed) to clarify the involvement of each stakeholder in the project. This provides clear communication and accountability and prevents overlaps or gaps in responsibilities.

Step 5: Create a schedule and set a timeline

Creating a schedule and timeline for each task can provide visibility into the execution process and keep each team member productive.

Consider how much time is required to complete each task necessary for your project milestones. You can even break down tasks into smaller subtasks to make them more manageable. However, be mindful of factors that can cause delays such as:

• Resource limitations.
• Task dependencies.
• Unforeseen risks.

When creating a project schedule, visual tools like Gantt charts and Kanban boards help you map out task dependencies and timelines. A useful project management tool you can use for this step is Trello. Trello offers an intuitive platform for creating Kanban boards. It allows easy visualization and management of tasks through customizable columns and cards for streamlined project workflow.

Step 6: Establish an estimated project budget

To generate an estimated project budget, you must consider all of the necessary project resources, including personnel, labor, materials, and equipment. Establishing a project budget will help you make wise spending decisions throughout the project execution phase to avoid overspending. 

Step 7: Plan for communication and collaboration

A communication plan should show how information is shared among stakeholders. For instance, in a software development project, the communication plan might specify that the development team shares a beta version of the software with the client for feedback every two weeks. It’s a systematic approach to making sure that the client receives consistent updates about the project’s progress. Having a communication plan in place will also outline the channels of communication and frequency to all necessary parties. 

Leverage collaboration tools, such as Slack, that integrate with your project management software to receive real-time updates and interactions among team members and stakeholders. 

Step 8: Document the project plan

Compile all related planning information and documentation as you plan your project. Some of these vital documents include: 

• Stakeholder analysis.
• Feasibility study.
• Business case.
• Work breakdown structure.

Having these reports in one place will serve as a reference during the project’s execution.

Utilize a centralized digital platform, like Sharepoint, where stakeholders can store, update, and access all project documentation. This approach serves as a reliable reference and streamlines the management and tracking of the project’s progress.

Learn more about Sharepoint and other document management tools in our video overview:

Free project plan template download

Project plan examples

Using an appropriate project plan format is essential to keeping stakeholders well-informed. Here are some of the widely-used project plan formats: 

1.  Spreadsheets

Using spreadsheets for project planning is beneficial due to its simplicity and widespread use, especially suitable for small-scale projects with straightforward tasks. Its customizable nature is excellent for simple initiatives like office events or basic marketing plans.

However, a significant drawback of using spreadsheets in project planning is the limited visualization options. While spreadsheets can manage data, they fail to offer comprehensive visual representations essential for a holistic view of project progress. Lastly, the risk of human error in data entry and formula setup in spreadsheets is high and can lead to critical miscalculations affecting the entire project plan.

Try this software

For more complex projects, Smartsheet is an ideal upgrade. It merges the simplicity of a spreadsheet with advanced project management features such as real-time collaboration, automated workflows, and app integration. More than just a basic spreadsheet tool, Smartsheet is particularly effective for large-scale projects like detailed marketing campaigns or cross-departmental efforts, offering comprehensive task tracking and resource management in a user-friendly format.

2. Slideshow presentations

Slideshow presentations for project plans provide a visually engaging method to simplify complex information. They effectively break down project components into understandable segments, using visuals, charts, and bullet points to highlight key information and timelines for team members and stakeholders.

However, the downside is that slide shows can oversimplify complex projects and potentially leave out critical nuances. They also require significant preparation time and may not be the best medium for detailed, data-heavy projects.

Try this software

Microsoft PowerPoint is an excellent choice for creating slide show presentations as part of project plans. It’s user-friendly and offers many templates and design tools. That’s why it’s suitable for beginners and seasoned professionals. PowerPoint’s ability to integrate with other Microsoft Office tools, like Excel for data representation, enhances its utility in project planning.

3. Gantt charts

Gantt charts create a clear visual timeline of a project’s schedule and progress by displaying various project elements’ start and finish dates. This approach helps identify potential bottlenecks and overlaps and facilitates better resource allocation and time management. However, Gantt charts can become cumbersome for complex projects with numerous tasks and dependencies.

Gantt charts are particularly effective in construction projects, event planning, and software development, where timelines and task dependencies are critical.

Try this software

TeamGantt is an effective PM tool that creates clear visual timelines for project schedules and progress tracking. By allowing users to input various project elements, including tasks, milestones, and dependencies, and then assigning start and finish dates to each, TeamGantt generates an intuitive Gantt chart.

This chart visually represents the project timeline, displaying how different tasks and phases overlap and interconnect over the project duration. The color-coded bars and easy-to-read format make it simple to understand the sequencing of tasks and the project’s overall progress at a glance.

4.     Mind maps

Mind maps differ from other project visualization methods by showing a radial, non-linear format ideal for brainstorming and capturing the holistic view of a project. They emphasize the creative mapping of ideas and relationships. They promote the free flow of ideas and easy visualization of relationships between different aspects of a project. Mind maps can also help identify key components, dependencies, and potential challenges at the early stages of a project.

Moreover, using a mind map before presenting a Gantt chart can help ease the transition from creative brainstorming to detailed scheduling, resource allocation, and progress tracking.

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Lucidchart is an excellent software solution for creating mind maps that can be converted into detailed reports. Its intuitive, drag-and-drop interface is ideal for conceptualizing project plans.

Lucidchart also stands out because it integrates with various tools like Google Workspace and Microsoft Office. This integration can facilitate the transition from a visual mind map to a comprehensive written report.

Components of project planning

Work breakdown schedule development

Using a Work Breakdown Structure (WBS) in project planning offers distinct advantages and some drawbacks. The primary benefit of a WBS is its ability to break down a complex project into manageable components. It is then easier to allocate resources, assign responsibilities, and track progress. This hierarchical project decomposition guarantees that every part of the project is apparent.

However, the main disadvantage lies in its potential rigidity; a WBS can become overly prescriptive, limiting flexibility and adaptability to changes or unforeseen challenges. Additionally, creating a comprehensive WBS can be time-consuming, and if not done meticulously, it may lead to gaps or overlaps in project planning.

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monday.com includes a work breakdown feature to help teams organize complex projects into manageable tasks. Each task is separated into more minor subtasks assigned to the appropriate individuals. The chart also displays additional information, such as the deliverables, end dates, and schedules based on interdependencies.

Project and documentation management 

Project and documentation management in project planning has its own advantages and disadvantages. With this process, you can make sure that all project-related documents are organized, up-to-date, and easily accessible. This approach is essential for maintaining consistency and clarity throughout the project lifecycle. Yet, the downside includes the possibility of information overload, where team members might get overwhelmed by the sheer volume of documents.

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Agile teams use Jira for planning and managing their projects. Here, you can see some of the information regarding risks and dependencies compiled within Jira. This method of organizing this information can be helpful, as the platform can act as a single source of truth to keep team members updated on the status of specific tasks. It also makes it easy for teams to communicate with external stakeholders about factors impacting the project.

Benefits of creating a project plan

Effective project planning is the cornerstone of successful project execution. It involves several key aspects contributing to a project’s smooth functioning and success. Some of these benefits include:

Remember, an effective project plan is not just a document; it’s a strategic tool that integrates various critical elements to secure the project’s success.

The post Project Plan Examples: How to Write an Effective Plan (2024) appeared first on TechnologyAdvice.

What is a work breakdown structure?

In project management, a work breakdown structure represents a structured division of a project into smaller, deliverable-focused elements. It segments the team’s tasks into more digestible portions.

As outlined in the Project Management Body of Knowledge, the WBS acts as a “tiered dissection of the complete scope of work that the project group needs to execute to meet the project goals and generate the required deliverables.”

WBS stands as a cornerstone in project management, particularly in the project planning phase. It lays the groundwork for precise cost predictions and oversight, steering the creation and monitoring of schedules. 

Instead of focusing on the tasks required to produce the project’s primary outcomes, the WBS narrows the focus to each task’s individual outcome. This setup makes linking conditions at different stages easier, like connecting what’s functionally required to the actual design plans.

What are the components of a work breakdown structure?

A work breakdown structure comprises six components: deliverables, tasks, subtasks, work packages, milestones, and control accounts.

What are the different types of work breakdown structures?

Depending on the nature of your project, it might be more effective to structure your WBS around deliverables (e.g., URL, layout, content) or phases (e.g., discovery, design, launch).

Also read: What is Agile Project Management (APM)?

Types of WBS charts and tools you can use

• List
• Spreadsheet
• Tree diagram
• Gantt chart

At its essence, this is a structured list that delineates tasks and subtasks. Consider it an enhanced version of the conventional to-do list that serves as the bedrock of any project.

Trello’s card-based system is perfect for creating WBS lists. You can create detailed tasks, assign them to team members, and monitor their progress. The software is like a digital whiteboard where you can move tasks around as needed.

Spreadsheets offer the unique advantage of formulas and conditional formatting to make managing tasks and dependencies more efficient and effective. For example, you can leverage a WBS spreadsheet to forecast the impact of budget or deadline changes.

Smartsheet offers the familiarity of traditional spreadsheets while adding essential project management capabilities. The grid view behaves similarly to Google Sheets or Microsoft Excel, allowing you to organize and filter tasks based on precise details and conditions.

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A WBS tree diagram is a visual breakdown of task heirarchies:

• The trunk is your primary goal.
• Branches that sprout from the trunk are your major tasks.
• Smaller branches are your subtasks.

Lucidchart is a gem for creating tree diagrams. With its drag-and-drop interface, you can easily map out tasks and see the bigger picture. It’s like having a bird’s eye view of your entire project. Lucidchart makes preparing a tree diagram more efficient.

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Gantt charts are indispensable tools for visually representing task timelines and their interdependencies. Envision a horizontal bar graph where each task is denoted by its own bar, signifying its duration. The length of the bar correlates with the duration of the task. Overlapping tasks? This indicates the presence of dependencies.

Wrike is tailor-made for Gantt charts. It allows you to set task durations, dependencies, and even milestones. With Wrike, you can see how your project timeline unfolds, making adjustments as needed. It’s like having a crystal ball for your project’s timeline.

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Guidelines for creating a successful work breakdown structure

Here’s a step-by-step guide to creating an effective work breakdown structure:

1. Define the project

Begin by clearly establishing the project. This might be straightforward for some projects, but for others, it might require refining the actual scope to ensure the WBS is appropriately scaled and manageable.

Use Asana to create a new project board where you can outline the project’s main objectives and goals. Asana’s custom fields allow you to add additional information, such as project stakeholders, budget, and expected timelines.

2. Set project boundaries

After defining the project, set clear boundaries on what is and isn’t included in the WBS. This ensures that the scope remains focused and avoids potential scope creep.

ClickUp’s Spaces feature allows you to set clear boundaries for your project. Creating a dedicated space for your project ensures that all tasks and discussions remain within the defined scope.

3. Identify project deliverables

List out the high-level deliverables associated with the project. This could be items like a Project Scope Statement or a Mission Statement. Wrike’s folder structure is perfect for listing high-level deliverables. Create a new folder for each deliverable, which can be broken down into tasks and subtasks as you progress.

4. Define Level 1 elements

Using the 100% rule, create the Level 1 deliverables. This level typically represents the entire project. For instance, if you’re working on a new website, Level 1 might be “Website for New Brand.”

Use monday.com’s board view to create columns for each Level 1 deliverable. This visual representation helps us understand the project’s primary components at a glance.

5. Decompose Level 1 elements

Break down each of the Level 1 elements into smaller components. This process, known as decomposition, involves dividing tasks into smaller pieces, ensuring the 100% rule is applied at each level. Continue this breakdown until no further decomposition would benefit project management.

Trello’s card system is excellent for decomposition. For each Level 1 element, create cards for its sub-elements. You can further break these down using checklists within each card.

6. Assign team members

Identify an individual or team responsible for each element or task in the WBS. This ensures accountability and clarity in roles and responsibilities. ClickUp’s assignment feature ensures that each task or subtask has an accountable individual or team.

7. Create a Gantt chart

Create a Gantt chart to complement the WBS. A Gantt chart visually represents activities over time, allowing you to see the project schedule and the timeline of various activities. monday.com’s Gantt chart view provides a visual timeline for your project, perfect for tracking progress and dependencies and ensuring the project remains on schedule.

The post What Is Work Breakdown Structure for Project Management? appeared first on TechnologyAdvice.

What is CAPM Certification?

The CAPM certification, or Certified Associate in Project Management, is a globally recognized credential offered by PMI (Project Management Institute). It is intended for individuals pursuing entry-level positions in project management. The exam consists of 150 questions covering project management fundamentals like project integration, resource management, stakeholder management, and risk management.

CAPM certification is commonly pursued by students, recent graduates, and professionals who are looking to gain project management experience or take on larger project responsibilities. The certification demonstrates a commitment to developing fundamental project management skills.

Is CAPM worth it?

Yes, CAPM certification can be worth it for someone seeking to have a project management career, especially if the person is starting out or has limited experience in the field. 

A CAPM certificate provides several advantages, such as access to entry-level project management positions, PMP exam eligibility, and recognition of project management expertise. It is a worthwhile investment due to the expanding employment market for project management specialists and the potential for competitive salaries. 

By earning this credential, you can improve your career prospects, acquire industry recognition, and lay the groundwork for further project management professional development. 

If you’d like to know more, you can download and read the CAPM exam content outline and generic certification handbook.Also read: Defining a Project Management System

Also read: Defining a Project Management System

CAPM compared to other certifications

CAPM vs. PMP

The Project Management Professional (PMP) certification is a globally recognized professional-level credential for experienced project managers. Employers across various industries highly value it as proof of proficiency in project management methodologies, processes, and leadership.

The PMP is a professional-level certification requiring at least three years of project management experience. It offers higher salary potential and more job opportunities than the entry-level CAPM. However, if you have little to no project management experience, the CAPM can be an appropriate starting point to break into the field.

CAPM vs. Google Project Management Certificate

The Google Project Management Certificate is a self-paced, affordable, and prerequisite-free program that teaches foundational project management skills, such as Agile and Scrum methodologies. It is geared toward beginners and imparts fundamental project management skills. 

However, it may not be as widely recognized or valued by employers as PMI’s globally renowned CAPM certification. The CAPM certification can lead to more employment opportunities and potentially higher salaries.

Also read: 5 Common Project Management Mistakes to Avoid

How to get CAPM certification?

To apply for the CAPM examination, you can follow these steps:

1. Visit the official website of the Project Management Institute (PMI).
2. Create an account on the PMI website if you don’t have one already.
3. Log in to your PMI account and navigate to the CAPM certification section.
4. Fill out the CAPM application form, and provide the required personal and educational information.
5. Submit the application and necessary payment (PMI members receive a discounted exam fee).
6. Wait for your application to be reviewed and approved by PMI, which typically takes a few business days.
7. Once your application is approved, you will receive an email with instructions to schedule your CAPM exam.
8. Schedule your exam date and location through the PMI’s authorized testing partner, Pearson VUE.
9. Prepare for the exam by studying the CAPM exam content outline and utilizing study materials and resources available, such as PMI’s official guide and practice exams.
10. On the scheduled exam day, go to the designated test center and complete the CAPM exam.

Generally, it takes a few weeks to complete the process from application submission to scheduling and taking the exam. The application review and approval typically take a few business days, and the exam can be scheduled shortly after approval. 

The preparation time for the exam may vary depending on the individual’s study approach and availability. Overall, the entire process can range from a few weeks to a couple of months.

Also read: What Is a PMO? A Beginner’s Guide for 2023

CAPM Certification Costs

The costs associated with obtaining a CAPM certification include the following:

• PMI Membership: To become a member of the Project Management Institute (PMI), which is a requirement for CAPM certification, there is an annual membership fee. The cost varies depending on your location but is typically around $139 (Plus a one-time US$10 application fee) for individuals.
• CAPM Exam Fee: The exam fee for PMI members is $225 USD, while non-members pay $300 USD.
• Exam Preparation Materials: Depending on your preferred study method, you may choose to invest in CAPM exam preparation resources such as books, study guides, online courses, or practice exams. The costs of these materials can vary.
• Renewal Fee: CAPM certification holders will have to earn 15 PDUs over three years and pay a certification renewal fee of $60 for members and $150 for non-members to keep it active.

It’s important to note that these costs may change over time. It is advisable to check the official PMI website for up-to-date fees and membership costs.

Also read: Top Innovative Project Management Strategies

What is the value of a CAPM Certification?

CAPM certification has professional value. It can give you an edge in the job market, show that you are committed to professional growth, and show potential managers that you know much about project management. Also, getting the CAPM certification instantly fulfills the 35 hours of project management training needed to get the Project Management Professional (PMP) certification, which is more advanced. 

CAPM certification also has general knowledge value. The certification covers the most important ideas, methods, and practices of project management, giving you a complete understanding of the field. This information can be helpful outside of professional project management because the principles of project management can be used in many different parts of life and work. 

The CAPM certificate gives you skills that can be used in many other areas and situations, such as planning, organizing, and managing projects. It improves your problem-solving skills, ability to work as a team, communication skills, and ability to manage projects, making it a helpful asset in your professional and personal lives.

After obtaining the CAPM (Certified Associate in Project Management) certification, you can pursue various entry-level project management roles such as project coordinator, junior project manager, associate project manager, project administrator, and project support officer.

Looking for the latest in Project Management solutions? Check out our Project Management Software Guide.

FAQs

What is CAPM?

The CAPM certification, or Certified Associate in Project Management, is a globally recognized credential offered by PMI (Project Management Institute). It is intended for individuals pursuing entry-level positions in project management.

What are the requirements for a CAPM certification? 

To get a CAPM certification, you need to meet specific requirements:

• You need a secondary degree (a high school diploma or the equivalent).
• 23 hours of project management training, or a four-year degree and the same amount of training.

The post Is the CAPM Certification Worth It? appeared first on TechnologyAdvice.

What is financial wellness?

The U.S. Consumer Financial Protection Bureau defines financial wellness as the ability to: 

Types of employee financial wellness programs

With inflation at a 40-year high in the U.S., more companies are offering financial wellness benefits to help employees manage financial stress and develop good money habits. Employee financial wellness programs include financial literacy, financial goal management, debt management, retirement planning, emergency relief, and expense reimbursement.

Financial literacy

Financial literacy is a set of skills necessary for achieving financial wellness. It entails knowledge and practices for making informed decisions about current and future financial goals. 

Financial literacy helps people:

You can support employees’ financial literacy by hosting regular workshops or seminars. Alternatively, you can provide access to online financial education courses and resources so employees can learn at their own pace. Another method is to include financial literacy tips in company newsletters and training materials.

For providing this type of financial wellness benefit, you can try LearnLux, a learning management system focused on financial literacy and well-being. It provides lessons and tools to help employees learn about retirement planning, homeownership, the effects of credit card debt, and many other topics.

Financial goal management

Businesses can organize workshops focusing primarily on financial goals and outline the steps to achieve these goals. Additionally, you can encourage peer sharing and create a platform where employees can share their financial goals and success stories to promote accountability.

You can also provide access to financial planning tools and resources. These can help employees track spending, savings, and progress toward their goals.

YNAB (You Need A Budget) is a user-friendly tool that can be highly effective for goal tracking. It provides visual indicators in the form of a progress bar, giving users a clear idea of how close they are to achieving their goals. YNAB also sends alerts when users are falling behind on goal contributions or when a target is approaching, making it a valuable tool for financial management.

Debt management

Employers can help employees manage debt in multiple ways. A good start is to help employees check their credit reports. Employers can guide employees on how to access annual credit reports from major credit bureaus. Knowing where an employee’s credit status stands is an excellent way to start strategizing how to manage the debt.

Credello can create a plan tailored to the user’s financial situation and goals regarding debt management. It can create a personalized dashboard that will organize all debts in one place. This visualization will help the user see the bigger picture of their financial situation.

Retirement planning

Companies can connect employees with a retirement expert to provide personalized advice on retirement planning.

These experts should help employees strategize a detailed plan of action for their retirement while considering the cost of living and other factors. Employees must return, review, and revise their pension plans regularly to make sure all information is current and reflects their future goals.

Employers can also help employees access retirement income, whether through lump-sum payments, annuities, or income funds. Features like that of BrightPlan can help employees set retirement goals and plan for estate distribution.

Emergency relief

Employers can provide emergency relief funds to help employees get through unexpected situations.

For example, employees affected by natural disasters such as hurricanes, typhoons, earthquakes, floods, and wildfires can receive relief funds to help them recover and rebuild. Aside from natural disasters, other emergencies to consider are accidents, surgeries, or serious illnesses not fully covered by insurance.

When setting up a relief fund, it is important to clearly outline the emergencies covered by the fund and communicate this with the employees. Explain the eligibility criteria, how to contribute, and the application process. It is also vital to consult with legal advisors to guarantee that the fund complies with tax laws and regulations. 

Expense reimbursement

Another type of financial wellness benefit is through reimbursement or stipend programs. Employers can reimburse employees for any job-related expenses, which may include travel expenses, equipment purchases, or training fees.

Another way is to set up a reimbursement program to cover a portion of health-related expenses. These can be anything from gym memberships to counseling services. To avoid confusion, establish clear guidelines as to what expenses are covered. Also, specify the process for submitting expenses or any limitations. 

Businesses can use Expensify to streamline this process. Expensify can scan receipts, identify the merchant, and automatically categorize the transaction, helping shorten the processing time.

How to launch a financial wellness program

Your company’s financial wellness program should reflect your company’s values as well as the unique needs of your employees.

1. Evaluate employees’ needs

Use anonymous survey tools to understand your employees’ financial goals and determine what benefits would be most beneficial. Survey questions may include:

The survey findings may reveal the effectiveness of your current benefits, especially if you use the same survey questions before and after launching a financial wellness perk. Survey results may also point to potential gaps in current offerings and persistent, unaddressed employee needs. 

2. Obtain leadership buy-in

If company leadership isn’t aware or convinced of employee financial wellness as an issue, present the survey findings from the first step and highlight the productivity and job satisfaction benefits that come with supporting employees’ financial well-being.  

By providing data-driven justification, you can present a compelling argument that demonstrates the relation between employee financial wellness and overall company performance. You can also show how competitors who offer financial wellness programs perform when it comes to employee satisfaction rate, talent attraction, and retention. 

Additionally, by conducting a cost-benefit analysis, you can demonstrate how reallocating funds from underutilized benefits to financial wellness programs can result in greater employee engagement and reduced financial stress. Another effective way is by showing comparison showing the value employees can get from financial wellness benefits compared to underutilized benefits.

3. Get started immediately with free programs and resources

With a green light from the leadership team, you can offer resources that target a range of financial interests, such as:

Some financial institutions and nonprofits offer free resources, such as workshops, tools, and coaching, which you can use to  address your employees’ goals and concerns. Free financial wellness resources include:

Several HR software solutions include financial wellness features that can help streamline this program with other employee benefits. The right constellation of offerings will depend on your workforce’s needs and life stages. 

4. Establish metrics for success

After building a program, it’s important to establish metrics for success. A success metric may be the percentage of employees participating in retirement programs or investing in health savings accounts. 

Measuring employee stress can be more difficult to capture without prying into employees’ financial decisions. Optional surveys let you check in with employees periodically to see if they are experiencing financial stress without being intrusive.

Depending on the financial wellness benefit you offer; you can measure benefit utilization by measuring the number of employees enrolled in and actively using the financial wellness program. You can also measure engagement by keeping track of attendance at workshops and interactions with online tools.

Benefits of employee financial wellness

Are financial wellness benefits right for your company?

Employee financial wellness is an important part of a holistic approach to employee health. Employers who offer financial wellness programs help reduce employee stress and demonstrate that the company is invested in their health and well-being. In turn, financially secure employees are more satisfied at work, productive, and healthier.

Explore our HR Software Guide to find the best solution for your organization that includes financial wellness.

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