Distraction impairs productivity. The experience is so common that most employees prefer workplaces that minimize distraction. One June 2016 study by Oxford Economics found that employees worldwide rated ‘the ability to focus and work without interruptions’ as most important in their work environment. However, some obvious sources of distraction, like smartphones and open offices, are increasingly popular. Respondents of the same study rated having the space to collaborate, and being able to use their devices everywhere as the next most important. (Subsidized food was near the bottom of the list, which I personally find shocking). The study suggests that open offices, Wi-Fi and smartphones are both a priority and a liability. It follows that effectively managing these collaborative opportunities is key to productivity, quality of work, and employee morale.
It is a term that is thrown around in our industry quite frequently. If executed incorrectly, it can throw a once simple deal into a steeple chase, captivating customers and vendors and lenders alike. It won’t kill a deal, but it will add some layers to it. The best way around the drama is to know it exists, know the rules it lives by and do everything in your power to file it in the necessary time period. Can you guess what I’m talking about? Ladies and gentlemen, I’m speaking of the good ole UCC-1 filing, herein referred to as a “UCC”. Let’s break down the basics: