Category: Business Advice

A perfect storm is brewing in the cybersecurity sector where an increase in cyber threats is compounded by a major skills shortage and lack of women representation. 

Cyberattacks can shut down infrastructure, close businesses, drain bank accounts, and more. Protecting systems and data from sophisticated hackers has never been so important, and the value of the global cybersecurity market is predicted to reach an eye-popping £340 billion in 2030.  

Despite the industry’s apparent wealth, a worrying dearth of cybersecurity professionals, especially women, currently exists. A mere 24% of the global cybersecurity workforce are women. 

From recruitment challenges to the gender pay gap, cybersecurity services provider, ramsac, is exploring reasons for the glaring absence of women in cybersecurity, and why solving this problem could go a long way to plugging the skills gap and improving diversity. 

Gender Bias Towards Men 

Discrimination against women – both conscious and unconscious – appears rife in the cybersecurity industry in 2024. Studies have found that 51% of females who work in cybersecurity have experienced some form of gender discrimination compared to just 15% of men. These figures further prove how deep-rooted discrimination towards women is in cybersecurity, and why it’s likely to be off-putting for females considering a career in the industry. 

Gender Pay Differences 

Alongside the cybersecurity skills gaps is a significant gender pay gap where male cybersecurity workers are paid more than their female counterparts. In fact, the latest figures reveal that in the technology and cybersecurity industry, a staggering 91.1% of companies with 250 or more employees pay their male workers more than their female staff for performing the same job. This makes the tech industry one of the worst offenders when it comes to delivering equal pay, with the gender pay gap standing at 16%, much higher than the UK national average of 11.6%.  

Absence of Female Role Models 

The apparent lack of women in cybersecurity perpetuates the general view of it being a male-dominated sector and a bit of a ‘boys’ club.’ With just one-in-four cybersecurity workers being female, opportunities for women in this growing tech space have been limited – despite the continued growth of the global digital landscape. With only a small number of female figureheads to aspire to in cybersecurity, the perception of it being an industry mostly for men will continue until attitudes change. 

Recruitment Challenges 

Recruitment teams have been guilty of taking a narrow view when it comes to filling roles in cybersecurity. What does this mean? That recruiters only look for male candidates whose skills and technical experience exactly match those of the current workforce. This myopic approach and reluctance to hire women who require training – despite the general cybersecurity skills shortage – denies women the opportunity to learn new skills and launch a career in the field. 

How Can the Cybersecurity Industry Encourage More Women to Join? 

Develop More Cybersecurity Apprenticeships 

Apprenticeships are a great way to bolster an industry’s workforce, and the same is true of women in cybersecurity. Schemes like the UK Government’s cybersecurity qualification offer a significant starting wage that rises when candidates secure a permanent job. Not only do apprenticeships help to create a diverse pool of talent within the sector, but they also give women greater opportunities to gain practical experience within a working environment and learn the essential skills they’ll need for a future in cybersecurity. 

Deliver Equal Pay for Women  

As mentioned, the tech industry is notorious for paying women employees less than males. However, a recent survey of UK cybersecurity workers revealed that salaries for females in technology are increasing and that the gender pay gap is slowly narrowing. This suggests tech employers are working hard to bridge the gender pay gap by introducing standards for determining salary structures based on experience, relevant skills, and performance across all roles. 

Work Closely with Schools 

The UK Government is determined to engage with schools and support girls considering a career in cybersecurity. For example, more than 12,500 girls across the UK recently entered the National Cyber Security Centre’s 2023/24 CyberFirst Girls Competition which aims to encourage those aged 12-13 years to pursue an interest in technology and cybersecurity. An incredible 3,608 teams from more than 750 schools across England, Scotland, Wales, and Northern Ireland were involved, and the competition continues to grow each year. 

As you can see, the gender skills gap remains a serious problem in the tech and cybersecurity industry, with a lack of female workers and pay inequality among two of the biggest challenges facing employers. However, governments and cybersecurity companies realise they are missing a trick by excluding women from the cybersecurity workforce, and that female tech employees can provide an obvious solution for filling the skills shortages while making cybersecurity an inclusive space for everyone. 

Thoughts on this matter. 

Commenting on this, Rob May, the Executive Chair of ramsac – the secure choice, said “In the face of a burgeoning cybersecurity crisis, the underrepresentation of women in this sector is not just a missed opportunity—it’s a pressing challenge we must address. We are working in an era where cybersecurity threats loom larger and more complex, it’s clear that diversifying our talent pool is more than a matter of fairness—it’s a strategic imperative. By actively recruiting, retaining, and promoting women within the cybersecurity field, we’re not just closing the gender gap; we’re opening a gateway to enhanced innovation, perspective, and resilience in protecting our digital worlds.

Diversity by every measure will result in diversity of thought and that is a brilliant tool for any of us in the cybersecurity industry. As industry leaders we all need to champion change and create a cybersecurity workforce that is as diverse as the challenges we face.” 

Launching a business is an adventure, but let’s be honest, navigating the entrepreneurial journey alone can feel like scaling a mountain with one arm tied behind your back. That’s where the power of a rock-solid business partnership comes in. A good partner complements your strengths, shares your vision and becomes your co-pilot on the road to success.

But how do you identify a potential partner who’s not just a warm body, but a true green flag – a positive indicator of a thriving and prosperous partnership? To shed light on this crucial aspect of building a business, we turn to FatRank founder James Dooley who dives into the key signs that your business partner is a green flag.

1. Transparent Communication

Open and honest communication is the bedrock of any strong relationship, business included.  Your partner should be comfortable discussing challenges, ideas, and concerns freely. As James puts it, “Trust is the foundation of collaboration. When communication flows freely, decisions can be made quickly and efficiently, fostering an environment of trust and mutual respect.”

2. Shared Values and Goals

Imagine trying to drive a car with one person wanting to go north and the other south. It would be a headache! A successful partnership thrives on shared values and goals. James says, “This doesn’t mean you need to be identical, but you should have a common vision for the future of the business and core values that guide your decision-making.”

3. Complementary Skills

Just like puzzle pieces, the best business partners complement each other’s skill sets. Maybe you’re a marketing whiz, while your partner excels at finance. Perhaps you’re the visionary, and your partner is the detail-oriented executor. By bringing different strengths to the table, you create a well-rounded team that can tackle any challenge.

4. Mutual Respect

Respect is a two-way street. A good business partner values your ideas, expertise, and opinions. They are open to constructive criticism and willing to compromise when necessary.  “This mutual respect fosters a collaborative environment where both partners feel heard and valued, leading to a more fulfilling and productive partnership,” James tells us.

5. Track Record of Reliability and Accountability

Knowing you can count on your partner is crucial. Look for someone with a proven track record of reliability and accountability. “They meet deadlines, follow through on commitments, and take ownership of their responsibilities,” James advises. This builds trust and ensures a smooth workflow, allowing you to focus on strategic growth.

By recognizing these green flags, you can build a strong foundation for a successful business partnership. Partners who communicate openly, share values, possess complementary skills, respect each other, and hold themselves accountable are more likely to navigate challenges, seize opportunities, and propel your business towards long-term success. 

“So, the next time you consider a business partnership, keep your eye out for these green flags,” James concludes. “They might just be the key to unlocking your company’s full potential.” 

By Amy Knight, Co-Founder and Director of Must Have Ideas

In the aggressively competitive world of online retail, filled with drop shipping, untrustworthy brands and seemingly endless options for consumers, it’s never been more important to be the face of your brand. Consumers crave a personal connection with the company they are buying from – this personal connection increases trust and brand recognition. It’s what turns browsers into first time buyers and ultimately into returning customers. As co-founder and director of Must Have Ideas, cementing myself as the face of our company has massively improved the building of trust, bringing us more returning customers each year.

The Power of Personal Connection

Personal connection in business is important for several reasons, particularly in the world of modern e-commerce. Consumers enjoy more choice than ever but as retailers compete on the lowest prices, the best products and the fastest deliveries – many forget one crucial competitive element – the power of personal connection and – specifically, putting a face to their brand. There are many ways you can be the face of your brand, from personally advertising your products online to simply tailoring your emails with a personalised signature.

By adding this personal touch, customer satisfaction, trust and brand recognition will be hugely enhanced. This concept is backed up by a survey carried out by Sprout Social, who found that 70% of consumers feel more connected to brands with CEOs who are active on social media. It also found that “when customers feel connected to brands, more than half of them (57%) will increase their spend with that brand with 76% opting to buy from them over a competitor”. Such high percentages really drive home the importance of maintaining a personal connection and makes customers much more likely to recommend you to friends and family.

Enhanced Customer Satisfaction

However, creating customer satisfaction goes beyond being the face of your brand as customers’ picture a clear, friendly face who they can trust throughout their purchase journey. If there are issues with their purchase, they’ll feel more able to approach a brand offering that personal touch. At Must Have Ideas, our customer service lines are open seven days a week, from 8am and 8pm. We can be contacted by phone, email, text and even by post. Our customer service team is located at our main offices in the UK, which for us is a key element of our business strategy. We believe that there is still a place for traditional customer service as it develops trust and ultimately keeps customers returning. Our customer service team are trained simply to treat every single customer as they themselves would want to be treated.

Personal touches help strengthen the relationship between us and the customer, it enables us to grow as a respected brand while fostering transparency and authenticity. This can be developed further by engaging with customers on social media, email and even at in-person events. Many well-known and successful brands have built trust with a visible leader, with Richard Branson at Virgin, Mark Zuckerberg at Meta and Elon Musk at Tesla being notable examples.

Making your Brand Memorable

Having a face to your brand creates a memorable person for customers to recall, by including your presence across your website and social media. Having a well-defined brand identity made up of consistent logos, colours, slogans and images alongside a recognisable face reinforces uniqueness and memorability while remaining consistent and relatable to customers. Many of the elements of well-known brands have even become part of the public consciousness such as Nike’s iconic “Swoosh” and McDonald’s “Golden Arches” logos, along with their respective slogans “Just Do It” and “I’m Lovin’ It”.

Recognise Your Niche

It’s important to recognise your niche, whether this is for being a female-founded company or family-run, you should include these specific elements into your branding. Remind your customers about what you’re proud to represent to continue to build and maintain that connection.

Havas Group’s Meaningful Brands Study in 2021 found that 66% of consumers want more meaningful experiences from brands. This shows the value of representing what’s important to your company and by giving your customers a meaningful experience in some way, you can promote loyalty and ultimately achieve long-term success.

By Dionne Lee

My interest in money and financial independence was sparked by playing a board game when I was 12 years old! What caught my attention was how I could create more income passively than by working a job and trading my time for dollars.

Then, when I finished high school, I fell into a financial services traineeship working for a credit union. I quickly learned about different products such as term deposit investments, how home and investment property loans were approved, and the basics of money management from my manager at the time — and I was only 17 years old!

By the age of 20, I took a significant step forward in my financial journey by acquiring my first investment property, and then quickly expanded my portfolio with the acquisition of a second and then a third property within the following two years. This is really what marked the commencement of my endeavour into the realm of real estate-driven passive income, and the purchase of many properties over the coming years.

Fast forward to my late 30’s – three children, many properties and two successful businesses in mortgage broking and financial coaching. Like a lot of people, at that time I went through a divorce, gave up most of the assets to keep life amicable for my children, and ended up back at stage one starting again trying to get back into the property market. Having gone through this experience myself, I was then realising how many other women were at that same starting point (including girl friends of mine), but a large proportion of them didn’t have the financial experience I had acquired over the previous two decades, and they had no idea where to start of what they should do first. This was where A Woman Inspired began.

Although I had been coaching my existing clients (male and female) to help them build investment property portfolios with the smarter lending structures and passive income, I had never tailored it to women as such. This is where my passion kicked in, and full financial literacy and coaching began.

Today, I help ordinary everyday women learn for themselves the tools I have learned since I began my financial career and personal financial journey at 17 years of age.

I encourage, and allow women the space to dream and think much bigger about how they want their life to be. Once I know their desired lifestyle and financial destination, I can then work from their end goal backwards, to where they are beginning from today. I start with educating my clients on the basics of budgeting, money management, money mindset, passive income, property types and investment types, to then calculating the numbers on each of these to understand if each particular investment they will consider will give them the highest and best use of their time and money – before they jump in. From there I build their income producing assets to give them enough passive income, and become debt free, to then set themselves up for a financially stress-free life. It is all about arming women with financial knowledge and financial literacy to ensure they understand exactly what they are investing in and not just believing what the different professionals tell them.

Part of that literacy is not just in terms of thinking bigger and calculating numbers, but understanding what questions to ask and what stipulations they need to give the professionals assisting them. Remember – a professional may have the qualification to advise, but not necessarily the personal experience to really give that crucial part that makes all of the difference sometimes.

For example, everyone should have their lender structure their lending the smarter way that benefits the consumer. The loan product, the interest rate type, and how the lender ties the client to them when there are multiple properties involved is all so important to understand when borrowing money. Unfortunately for the consumer, the banks are there to make money for their shareholders, and don’t necessarily train their staff to help a client structure their lending in the best way for each individual client. The banks may be very helpful in approving the clients’ loans application, but unless the client knows to state how they want their lending structured, the loan may be structured in the best interest of the lender, and the client would be none the wiser. Structuring your lending the smarter way, can save a client thousands of dollars of interest without paying any extra off the loan itself.
When borrowing money, it is not all about the interest rate and fees, although the majority of the population only compare these two aspects of the loan!

Just imagine having your own home but paying out that mortgage in half the time or sooner just by having that financial literacy. The savings in interest alone could be the equivalent of buying another property. We are talking about potentially some really large numbers here for the normal single woman. It is just understanding that you don’t know what you don’t know and being prepared to learn!

Most of my female clients come to me because they need someone they can trust, and have been referred by another one of my clients who is already fully or part way through the financial literacy process.  They need someone who is walking the walk and talking the talk from their own personal experience. Someone that is out there doing it themselves and being completely transparent telling and showing them exactly what they do themselves and why.

Money and a person’s financial position is not one widely spoken about because it is a private and sometimes an uncomfortable topic to talk about. It doesn’t need to be an uncomfortable topic – it is just one that many people don’t have enough knowledge, literacy and understanding about. Money is simple to understand when you think about it logically; and with the correct guidance and education around it, your understanding and confidence can exceed well past your own expectations.

I know my job is done when I see my clients understand what I am teaching them. I see the excitement in them when they start to reap the rewards, achieve their goals and begin teaching and educating their own children and friends to have the life we all deserve.

Queensland Broker of The Year Dionne Lee, Financial Coach and CEO of A Woman Inspired  

By Amna Zaidi, FCA, CMgr, MCMI, Leading Transformation Consultant

In today’s corporate and business environment standing still is no longer an option. Whether you’re a seasoned industry leader or a startup, stagnant growth or market disruptions are clear warnings that means for many businesses it’s time to act. However, it’s much harder as a business to respond effectively if you’re not ready or ill-prepared, with little or no warning.

Examples include the arrival of new technologies, competitors, or social or market trends which can all be a huge threat and have serious implications on a business model. With the cost of taking no action being far greater, a consideration should be to enlist a transformation specialist. Equally, if a company’s growth has plateaued or is in decline for any reason, a transformation consultant could help. Here, Transformation Consultant, Amna Zaidi discusses why being prepared isn’t just a strategic choice and how it’s imperative to business survival.

The uncertain journey

Imagine you’re embarking on a business journey; you know where you intend on going and your vision for the company is clear. However, the way you’re getting there is less so. It’s imperative that you set strategic goals for direction, as for many businesses it’s here when challenges arise, whether that’s during strategic planning, innovation initiatives or process improvements. It’s when as a business you’re aware of the goal, but the optimal path remains elusive.

In such a fast-paced world priorities shift like sand dunes which also means that customer demands, market trends, and external factors are constantly reshaping the landscape so business agility is vital. Doing this will enable leaders and managers to recognise when priorities shift, when unforeseen obstacles arise, and how the landscape evolves. Instead of rigidly adhering to a plan, businesses should adjust direction according to the changing business needs and a transformation expert is your ideal partner in driving this, alongside business as usual.

Complexity

Leaders with longstanding business experience will know that complexity is a constant companion. When embarking on transformative journeys, there can be many business changes spanning technology, processes, culture, and strategy. Touching on every corner of an organisation, ‘transformation’ is likely to impact on areas including upgrades to legacy systems, streamlining workflows, fostering a growth mindset and encompassing people and organisational change. A good transformation consultant will manager such complexities and rather than seeing the negatives, will turn the chaos into a business opportunity, preventing paralysis from these complexities when they arise.

Accelerating change and navigating resistance

Helping to accelerate the transformation process, external support is crucial for those businesses operating in rapidly changing industries, when fear and uncertainty can present as a barrier to moving forward. With proven methodologies, ‘transformation’ involves reducing disruptions and devising strategies to overcome resistance, ensuring for much smoother processes. Aligning the company culture with a new direction is also critical, and consultants will facilitate this. Whether it’s communication gaps, fear of job loss, or attachment to the status quo, they will tailor strategies, communication campaigns and pilot programs, while engaging stakeholders at every stage of change.

Ensuring sustainability

Creating a sustainability strategy that ensures long-term success beyond the initial transformation is key, as is focusing on building internal capabilities to manage changes independently in the future. A transformation expert will be your ‘architect of resilience,’ and empower your team, enabling your business to adapt and thrive.

Improve financial return

Engaging a transformation expert not only enhances the financial returns created from business improvement projects but it also ensures efficient project execution, through monitoring performance rigorously and implementing cost-saving measures. According to Project Management Institute (PMI), organisations with project management practices spend twenty-eight times less money than those without such practices​ (Project.co)​.

What’s more, according to surveys, around 70% of business improvement projects fail to deliver the expected benefits or outcomes, all largely due to inadequate project management practices, poor planning, and lack of stakeholder engagement.

Enhancing leadership and governance

If your competitors are a step-ahead, an important way to counter this to adopt the perspective that only an external consultant can offer. In doing so, they will identify how to address any underlying issues by taking a holistic view, looking at solutions and insights from within the industry and by acting as a business ‘interior designer’ for projects to ensure the best outcome. 

So when every second counts and traditional strategies are no longer working during critical situations, time is of the essence. Transformation experts will identify problems, discover the root cause and re-establish a new direction for the business.

Finally, always remember as with any personal journey, it is the same for that of a business -and it’s the journey that matters as much as the destination.

Regardless of the industry or country, there has been a significant shift in the way we work and our work locations. We have smoothly adapted to a digital workplace, remote working, a return to the office, and a future that will likely incorporate a hybrid of all these approaches. Wherever you stand on the future of the office, collaboration and teamwork is imperative for a productive and successful business that will stand the test of time, says Joanna Knight OBE, Group CEO of Moneypenny, the UK’s leading provider of outsourced communications, a company consistent recognized as a Great Place to Work.

The power of your people.

For me, it is about creating a sense of unity whilst also celebrating people’s differences. As individuals we are unique, and we bring a whole scale of skills, experiences, backgrounds and perspectives with that. Bring these together with a common purpose or goal and the whole is greater than the sum of its parts. If you give people insight into how you are going to make it happen, not just the aim, then you invite them to think about it, giving ownership and they will work towards it too. Collectively taking people on the journey with you.

A teamwork culture empowers people, treats them as the individuals that they are and values that, harnessing this power to work better. It means creating an environment where people have a voice and feel comfortable to ask questions, raise concerns and share ideas. Individuals need to be supported and be supported for who they are, and they should be encouraged to become the best that they can be.

Create a clear, shared vision. Not simply one that is issued from management team level, sit down with people, discuss it, and agree the vision together. That way not only do you get feedback from all angles and perspectives, but also people feel a connection to the plan. It’s all about communication and not being afraid to ask and openly discuss what is not going well. If there is nothing going wrong, you are not looking hard enough!

Add that to a safe environment where people are heard and valued, and you can bring together a diverse group of people with individual yet complementary strengths and set them up to succeed. At the heart is cooperation and collaboration.

Not only does a culture built upon teamwork build cohesion and efficiency, but it also fosters innovation. A successful teamwork culture fosters diversity of thought, a can-do attitude and creativity, strengthening problem-solving and helping make better decisions, faster.

Furthermore, it provides learning opportunities, individually and collectively. Learning from their own mistakes and those of others when shared in a safe and supportive environment means fresh approaches, and new skills sets.

How to build a strong culture?

Teamwork needs to be an integral part of the DNA. It will only work if it is reflected in all that you do, your people, processes and culture. Walk the walk and talk the talk.

To create this there needs to be trust, excellent communication, and collaboration not only between all team members but all colleagues, managers and leaders. A sense that it is how we do things.

There needs to be a clear common goal, one that everyone understands and can strive for. Milestones can then be measured, contributions welcomed, and success achieved as a group. And when these goals are visible others can support them and contribute.

Diversity needs to be welcomed. It is where we find diverse and innovative solutions, and where we learn, which leads to better problem-solving, creativity and better results. Different views mean that you question any assumptions and bias, addressing stagnation in your working practices and improving collaboration, not to mention agility and innovation. No idea or opinion is a bad idea (within boundaries, of course).

That safe environment I mentioned previously is one where people have the confidence to air concerns and share ideas, good or bad, without judgement or fear. And that goes for anyone within the business, without hierarchy or pre-conceived barriers associated with job titles. Everyone is unique and should be valued as such.

In empowering people to become the best that they can be, a teamwork culture celebrates people’s own unique perspectives and achievements. From an informal thanks to a formal recognition from a manager the individual is valued and appreciated. And when you have a team or company full of people who feel recognised, you are harnessing the true power of your people.

One last thing. And one that is so often overlooked is fun. One of Moneypenny’s founding principles was to create a place where people wanted to work. It is reflected in all that we do, from our quirky offices to following our own path, to our approach to our people. We are all human. We all need to smile, enjoy ourselves and know when to stop. Creating a space to build relationships at work but that aren’t all about work, benefits everyone. It fosters collaboration, trust and support.

Why is it important to build a culture of teamwork?

We often view teamwork in a confined context, such as for a specific project or team. What we should do is see it as a crucial element in establishing a strong organisational culture, one that serves as the foundation of a business. By fostering a better work environment, a place where people want to work, we can cultivate a workforce that is more engaged, works better, and is more efficient. Most importantly, when the entire business works together, it becomes a powerful force.

Construction projects rely on heavy machinery for success. From excavators and bulldozers, this equipment forms the backbone of every successful endeavor. Yet, buying or leasing these powerful tools can be quite an investment. This comprehensive guide is intended to assist construction companies and finance managers to make informed decisions when purchasing or leasing heavy machinery.

Understanding Heavy Machinery Financing Options

Financing heavy machinery can be a complex, yet essential task for businesses that rely on these assets for operations. Various financing options are available, each providing distinct advantages and disadvantages, including equipment loans, leasing arrangements, and hire purchase agreements.

Construction companies can also obtain machinery through equipment loans provided by banks and financial institutions, with machinery serving as collateral against additional requirements such as deposits or agreements for additional security measures. Once paid off, ownership of the machine transfers outright.

Leasing

Leasing offers businesses another viable option to rent machinery over a specific period. Monthly payments tend to be lower than loans, often including leasing company maintenance services. Once their lease term has ended, businesses have the choice between purchasing or continuing leasing it from there or returning it altogether.

Hire Purchase Agreements

Hire Purchase is an alternative financial solution that combines elements of both loaning and leasing financing arrangements. Under an HPA agreement, businesses agree to make an initial deposit payment and then regular instalments over an agreed-upon time frame. Unlike leasing arrangements, which retain ownership until all payments have been completed by their lease company. HPA agreements offer more flexibility than traditional loans while simultaneously spreading costs over time.

Financing Pros and Cons

When looking to buy heavy machinery, financing options can have a dramatic effect on your company’s finances and cash flow. Each option provides its own set of advantages. Therefore, you must carefully consider which meets your business’s needs and budgetary constraints best. Some important considerations to keep in mind may include:

Cash Flow: Leasing or hiring purchases may offer more manageable monthly payments than loans, making them particularly effective tools for businesses operating with tight budgets.

Tax Benefits: Depending on the laws in your country, some financing options could provide tax breaks that reduce the overall cost of purchasing machinery.

Owned: Leasing agreements may result in ownership. This ownership can have significant benefits for businesses, such as trading up for newer models at the end of its useful lifespan.

Long-Term Costs: Leasing and hire purchase may lead to higher overall costs due to interest charges and fees compared with purchasing an asset outright.

Exploring Leasing Solutions

Exploring leasing options can offer businesses several distinct advantages when it comes to acquiring heavy machinery, especially those on tight budgets or seeking to protect capital. Leasing gives access to high-quality equipment without incurring substantial upfront costs associated with outright purchases. Instead, payments can be spread into manageable monthly installments for greater cash flow management and flexibility in financial planning.

Leasing offers numerous advantages to businesses. Lease agreements can be tailored specifically to the needs of each company’s business, with terms and conditions that can be altered according to the length or type of equipment required, as well as including maintenance service contracts to help ensure efficient operation during its lease period.

Leasing may offer tax benefits in certain jurisdictions, with lease payments usually qualifying as business expenses that reduce both taxable income and overall tax liabilities for companies leasing equipment, further increasing its attractiveness as a financing solution.

Comparing Financing vs Leasing Options

Businesses searching for new equipment must consider financing and leasing as potential acquisition methods, each approach providing benefits that depend on each business’s specific financial circumstances and operational needs, with financing typically providing greater financial flexibility than leasing options.

Financing equipment involves taking out a loan to buy it outright, creating ownership. Once paid back, ownership passes fully onto your business without further financial obligations associated with owning and using it. Machinery ownership may also serve as collateral against future loans that might help build credit.

Humanity in the corporate world, why we need it and how it creates a more productive workplace

What is humanity in the corporate world and why do we need it?

On the face of it, we shouldn’t have to explore what humanity means and why it makes commercial sense. But we do. In the recent State of the Global Workplace report by Gallup, 41% of employees report experiencing “a lot of stress”.  Those who work in companies with bad management practices (actively disengaged) are nearly 60% more likely to be stressed than people working in environments with good management practices (engaged), according to John Clifton, Gallup’s CEO.

We have seen solutions being put forward to respond to the challenge, with wellness programmes and mental-health days in abundance, as are initiatives to support different groups in the workplace, be they for ethnic groups, gender diversity or for neurodivergent people.  Yet still we hear a great deal about workplace stress as the report from Gallup highlights.

So, what is going to make the difference? And how do we respond at a time where commercial pressures are increasing and the response (as is often the case) includes reduced headcount, expecting teams to do even more and cutting learning and development budgets, which all contributes to developing the very people who make a difference to the top and bottom line.

Rather than focusing on plasters to cover up the cracks and programmes to deal with the stress in the system, we must take a long hard look at what is driving the stress and what can be done about it.

I have worked in the corporate world for 25 years and I’ve been coaching for ten.  I am in a privileged position to hear what is really happening under the surface for individuals, what makes them thrive and of the challenges that they face as they try to navigate politics, process and pressure – to succeed.

For the most part, people want to contribute and have influence. The saying that individuals leave a manager, not a company is frequently true. So, what can be done? How can we look to bring humanity into the workplace in a way that fulfils the commercial demands of a business as well as the needs of our people.

Create a safe space for people to speak up

In coaching we talk about psychological safety and creating an environment for individuals to share what is going on for them.  A human workplace encourages space for people to try things out, share what’s on their mind and learn from mistakes. 

How often, when the going gets tough is the natural response as a manager to be more demanding, challenging and to move into self-preservation mode, rather than to explore root causes?

Instead of increasing stress by demanding more, ask how you can release the weight of the pressure on the team or individual.  A coaching approach encourages listening, questioning and challenge, and thinking creatively, together. How can you help this process? The act of being listened to is the first step in releasing the pressure and focusing on the way forward.

Focus – decide what you will not do

Working with my coaching clients who are frequently stepping up into bigger roles, I ask the question “what will you not do tomorrow that you do today?” 

When financial targets put on the pressure, often the first ask is, what more can we do? I have seen on many occasions people trying to deliver more with the same resources (people or financial), or frequently, with less (headcount or budget reduction, or both).

Yet, a better question may be what will we not do? It is often a harder question to answer because it requires letting go of what has gone before. Examples of this might be servicing clients who were once strategic but are no longer profitable, or re-working data and reports for multiple internal decision-makers, or delivering the same service with a lower headcount.

A commercial lens means that the bottom line is in focus, but a coaching lens requires leaders to take a step back and look at the bigger picture. “More” often leads to burnout and stress and “less” requires strong leadership, decision making and ultimately greater risk taking – yet it can also release the stress and pressure from the people – who in turn are able to give more to the cause and ultimately increasing productivity.

Be transparent and honest

Energy comes in two forms, positive and negative. When individuals face uncertainty, negative energy tends to prevail, instead of people focusing on the task in hand, corridor conversations focus on the ifs, buts and maybes.  Being transparent and honest with information creates an environment where adult-adult conversations can be held. 

In coaching, we often refer to Transactional Analysis, a model first mooted by Sigmund Freud that helps to analyse transactions in communication with others. The “Parent, Adult, Child” analogy can be hugely helpful in raising awareness of how two people interact and the different ego states in existence. If ego states are not stable, the result can often be increased stress in the system.

Ask yourself which mode do I need to be in and how can I bring the conversations to a level that increases energy and focus, enhancing commitment and productivity?

Put people first – blend a coaching approach with a commercial focus

It sounds simple, but yet when the going gets tough how many conversations really put people at the heart of the conversation? Development budgets are cut, performance conversations pushed back and the very people that have the potential to deliver on commercial outcomes are left feeling disillusioned and under-valued.

I have witnessed first hand, that coaching is one of the first things to go, a “nice to have” or “discretionary” spend. If all leaders had a coaching approach to support and stretch their people, I could understand it, but unfortunately, they don’t. 

Ironically, the skills of a coach become even more important in tough times. Having the ability to step back, be curious, challenge, explore new ways of working and creating a safe space to experiment and learn are essential to delivering on business growth.

Supporting team members to find their passion, contribute to something meaningful and go above and beyond for the wider cause is central to building a more productive workplace.

The skills of a coach are equally valuable in having conversations with clients and customers – building relationships, offering insight and solutions to grow business together. Putting the human back into business.

So, the next time the going gets tough, rather than asking what more can we do, think about how a coaching lens can support the bottom-line focus, to create an environment that fosters curiosity, compassion and challenge – and ultimately improved productivity and commercial success.

By Helen Wada

One in four professionals don’t bother to network at all, despite nearly 80% deeming it crucial for career success. The idea of initiating conversations with strangers and navigating small talk can feel daunting and exhausting. 

However, a study has found that people who actively work on their networks are up to 72% more likely to be promoted. With nearly 50% of working professionals considering a career move this year, networking inevitably emerges as a critical competency.

In response to this reality, business building experts at Wix.com shared a no-nonsense networking guide to help ambitious professionals elevate their game.

Dos

Be mindful of body language

It only takes seven seconds for people to form a first impression of you. Show genuine interest in your conversation partner by avoiding closed body language like folded arms, hiding your hands, or looking away mid-conversation. 

Additionally, don’t underestimate the power of a handshake. Even brief human touch triggers the release of oxytocin, also called the ‘bonding hormone’, which promotes trust and mutual respect. A firm handshake with eye contact is key to indicating your readiness to connect.

Ask thought leadership questions 

Engage your conversation partner by asking thought-provoking questions to demonstrate professionalism. Instead of closed-ended questions, try asking: “Have you noticed any recent changes in the industry?”, “Do you have anything exciting coming up in the future?” or “What’s the biggest challenge in your line of work?”  This not only showcases your knowledge but also encourages a deeper, more meaningful conversation, setting you apart as a thoughtful and passionate professional.

Spruce up your LinkedIn profile

With over 65 million influential figures on LinkedIn, leveraging the platform to connect with highly-regarded people in your industry is a savvy move. Make sure your LinkedIn profile is up-to-date and polished so when you make new connections through networking, your profile clearly reflects your goals, professional achievements, and areas of expertise. This will help reinforce a strong, positive impression.

Ditch the sales pitch and craft your elevator pitch

Networking isn’t about making a hard sell, it’s about building lasting relationships. Remember, instead of telling people what you do, tell them why you do it. Direct pitching can lead to meaningless connections that are a one-way street. Instead, have your 60-second elevator pitch ready and practice it privately, or with a friend before networking events. A brief yet impactful introduction could spark conversations about how you can contribute. 

Don’ts

Don’t focus on quantity over quality 

Avoid the ‘spaghetti against the wall’ approach of randomly connecting with people and praying that something would stick. Instead, be strategic and focus on building a network that aligns with your career goals and ambitions. Invest your time on people who can offer valuable insights, mentorship, or opportunities relevant to your professional aspirations, to effectively bring your career to the next level.

Don’t put people on pedestals 

Feelings of inadequacy might overwhelm you when you enter a space where high reputation, seasoned professionals gather. It’s important to keep your chin up and don’t assume yourself to be inferior to others. Remember, no one is ‘too good’ for you to engage with at a networking event, it’s all about being proactive and prepared. 

Don’t forget to follow up 

You will most likely return from a networking event with a stack of business cards. Don’t simply stash them away, the first 24 hours are crucial for reaching out to keep the conversation going. Express gratitude, recap your conversations, and propose next steps – are there opportunities discussed at the event to follow up or areas where you could offer help based on their needs or interests?

Don’t only speak to people you know

A study found that over half of attendees chose to spend time with people they already knew, despite 95% of them expressing a desire to meet new contacts. While it’s natural to gravitate towards those we are familiar and comfortable with, this inadvertently closes doors to new opportunities and innovative ideas. Speaking with people from varied backgrounds will broaden our perspectives during networking.