Category: Articles

Five Ways to Take Your Company to the Next Level

Posted on | by root

When you are a leader of a large corporation, the pressure is on you to deliver. The success of the business falls squarely on the shoulders of leadership. There are benefits and drawbacks to this kind of responsibility, but one of the best things about the consolidation of leadership is that if it’s you, you can make big decisions to take the company to the next level. If it fails, you will face the consequences but if you succeed you receive the praise. When you are trying to take the business you are leading to the next level, below are five ways to take your company to the next level.

Focus on Equity

There is a lot of talk about equality these days, but often the wider conversation isn’t about equality—it’s about equity. Here is a quick example of equity in the workplace. If one part of your business isn’t as successful as the rest is, elevating that part of the business could make a huge difference. You need every part of the company to perform at its optimal level. It isn’t just about racial and sexuality diversity, it’s about the ability of every aspect of the company performing at its most productive level.

Cultivate Culture

When a company becomes large, the culture begins to degrade. Take a lesson from Google. Company culture matters. Company culture is one of the most important components of a truly great business. When the staff is cohesive, you will be more successful. The work will be easier because employees will be on the same page. It’s worth spending the time and effort on creating a comprehensive culture within the company—no matter how large. It’s worth spending time with both the people who are close to you and the ones you don’t know. Understanding the dynamics of each individual team will help you in the long run.

Overhead vs Profit

You already know this, but the relationship between overhead and profit is instrumental to the success of any company. How many employees do you have? Do you need all of them? What team isn’t performing? Can some of the company work from home? What about establishing a partial work-from-home program? You could also move from your current offices to a smaller property. Send some people home to work. Thin the herd.

Lower production costs if you can but try to skimp on the quality. Are you a primarily digital business? Thinking about new ways to make money could provide profit to warrant the overhead that you currently have. This is a balance you are surely familiar with. When you are trying to take your business to the next level returning to this mindset will prove fruitful.

Innovate, Innovate, Innovate

The odds are, you are leading a company that deals in technology or something adjacent to it. In these businesses, there are few things more valuable than innovation. Innovating is what changes the game for a lot of companies. If you are lacking innovation in your business—whether you are in tech or not—investing in people and technologies that can elevate your business is typically worth it.

Pivot into a New Direction, Diversify

If you have new ideas about how to take your business into a new, more profitable direction, you should begin testing these ideas. You don’t need to go all in at once, but you should start testing various products, services, and ideas. When you are at the helm of a large corporation, it’s important to identify when things aren’t working as well as they used to. Sometimes it’s merely a matter of size. You don’t need to turn180 degrees. Instead, you can diversify. Look at the data. What’s working? Turn slightly in that direction.

Leading a large company isn’t easy. It requires a lot of work. It requires steadfast diligence, a vision for the future, and an understanding of who and what you are dealing with. Whether you are in technology, finance, or something else, there are plenty of ways to take your company to the next level. It all depends on the overhead, the profit, the culture, and the outlook. If you can balance all these things, further growth and success may be around the corner.

8 Women CEO in the Forbes 100 List

Posted on | by root

Eynat Guez, co-founder and CEO at Papaya Global

For the last seven years, Forbes has published a list showcasing the 100 CEOs who are leading the world’s most successful privately owned cloud companies.

The Cloud 100 is a diverse list that is global in its scope and includes enterprises at all stages of growth, sales and valuation. It reflects the growing importance of cloud-based tech and is compiled using a variety of criteria, with a panel consisting of 26 assessors from within the sector and fellow CEOs.

A significant point that highlights the ever-increasing prominence of this sector is that the companies on the 2022 Cloud 100 list have a combined market capitalization of $100 billion greater than those in 2021.

More women CEOs in the top 100

One of the most significant features of the 2022 Cloud 100 list is that it features 8 women CEOs, up from 6 in 2021. It can of course be argued that women are still significantly underrepresented at the helm of tech companies, but the albeit small increase can nevertheless be seen as a positive, although there is still much more to do when it comes to women in executive leadership roles.

Below we look at the eight women who have crashed into the top 100, their achievements, their companies’ valuations, and what they have done to foster such significant growth and success.

Eynat Guez

Papaya Global

Papaya Global founder Eynat Guez is ranked at 74 in the Cloud 100 list, and under her leadership the company is now valued at $3.7 billion, having raised $250 million in a Series D funding round in 2021.

The Israel-based global payroll provider is also leading the way when it comes to women in tech, with the workforce being more than 50% female. The company has built its success on supporting organizations of all sizes and across sectors to expand into new markets, hire freelancers, and manage payroll globally.

Laura Behrens

Shippo

The eCommerce shipping platform Shippo is headed by co-founder Laura Behrens (no. 85), under whose stewardship the company raised $50 million in new funding in 2021. Now valued at more than $1 billion, Shippo has successfully expanded internationally into Germany, France, the UK, Canada and Australia, and is looking to go even further afield in the coming years.

One of the key reasons for Shippo’s success has been that it enables owners of eCommerce sites to use virtually any shipping provider globally via a single API.

Bernadette Nixon

Algolia

Coming in at 39 in the Cloud 100 list, Algolia CEO Bernadette Nixon has seen the company’s valuation grow to $2.25 billion, thanks in part to a $150 million Series D funding round in 2021.

This is Nixon’s first appearance on the list, and her API search and discovery platform has significantly grown its global customer base to more than 17,000 users since its founding in 2012.

Karen Peacock

Intercom

Intercom founder Karen Peacock is placed at 35 in the Cloud 100 list, and she has been at the helm as the company has raised over $240 million over 9 funding rounds.

Now valued at $1.25 billion, the Intercom communication platform supports companies in the management of their customer relations, and has more than 25,000 clients around the world, including major corporations such as Amazon, Webex, Meta and more.

Edith Harbaugh

Launch Darkly

LaunchDarkly CEO Edith Harbaugh is at number 34 on the Cloud 100 list, and under her leadership the California-based software feature management company is now valued at more than $3 billion.

Over eight rounds, LaunchDarkly raised $330 million in Series D funding in 2021, and now works with over 4,000 clients across a diverse range of industries, including Square, AMC, Intuit, Adidas and NBC.

Rachel Romer

Guild Education

Guild Education is a unique platform designed to make it easier for employers to enhance the range of economic and career opportunities it provides its employees, primarily through increasing access to education.

Co-founder and CEO Rachel Romer (no. 32 in the Cloud 100 list) has a number of industry awards to her name, and under her leadership the company is now valued at $3.75 billion, having raised over $634 million in a Series F funding round in 2022.

Melanie Perkins

Canva

Australian entrepreneur Melanie Perkins is the highest ranked woman in the Cloud 100 list, coming in at number 3. Canva, the online graphic design platform that she co-founded in 2012, is now valued at $40 billion and has more than 3,000 employees worldwide, with around 45% of the workforce being women.

Canva has also made a number of acquisitions, and has been highly successful throughout its history at attracting major investors, such as Sequoia Capital, Felicis Ventures, Blackbird Ventures, and Tiger Global Management.

Mathilde Collin

Front

Number 100 on the Cloud 100 list is Mathilde Collin, CEO of Front, a business communication hub that personalises customer relationships and makes it easier to ‘humanise’ messaging and other interactions with customers.

Front offers plans and packages for enterprises of all sizes, and under Collin’s leadership, the US company is now valued at over $1.7 billion, on the back of a $65 million Series D funding round in 2022.

2023 Trends

10 Leadership Trends You Are Likely to See In 2023

Posted on | by Akeela Zahair

By Thom Dennis, CEO of culture change and leadership development specialists, Serenity in Leadership.

After another incredibly tumultuous year and a recession on its way, leaders have been trying to steady the ship to navigate through the difficult times, but many are choosing to do more than survive and are aiming to get back to thriving beyond the profits, by focusing on culture, innovation and taking a long term view. These are the trends in good leadership you are likely to see in 2023.

 

1. Visionary Storytellers. I recently interviewed Dean Carter who led global HR and Shared Services at the ground-breaking company Patagonia and is now a Director of Griffith Foods, the global traceable and sustainable food ingredients experts. He said: “A leader for me is someone who has a compelling view of the future and their way of looking at the future is a very compelling thing to align behind. They also know their vision always has to be possible and the team need to be able to clearly see the actions that can be taken to get there.” Dean argues that visionary leaders have a better way of communicating their mission and objectives and can harness their narrative in such a way that it makes people want to be a part of making that vision happen.

 

2. Walk The Walk. Leaders will regularly need to re-examine if they are on track and are still aligned with their mission statement, values and purpose, and leading clearly with those at the forefront. During tumultuous times we need responsible leaders more than ever. A recent study of nearly 700 US companies showed scant correlation between stated company values and employee perceptions of the organization so this will have to change in the very near future.

 

3. Superb Tacticians For the Future. Leaders understand they need to re-create a hybrid workplace where workers want to be, to see friends, explore ideas, make a difference, learn and find meaning. Do these things well, and retention problems will be eased. You have to make money to stay in business, but you keep employees during otherwise difficult times if they are engaged, learning, and increasingly enjoying themselves. As Dean said about culture: “If we’re talking about making it fun, it probably isn’t fun”, and advocated for CEOs who don’t take themselves too seriously.

 

4. Nurturers. This means taking a firm line on sharing the burdens, reducing toxicity and burnout in the workplace, and wanting the best for colleagues’ mental and physical health. Being individual-employee-centric and offering flexibility and support are key.

 

5. High Cultural Intelligence. Senior executives and partners serve as a model for vision, purpose, and company culture and there is a 750% differential in profits at companies with aligned and mature cultures versus those that fail to cultivate their cultures. CQ is an easily learned and developed, but extremely important skill.

 

6. Build Better Teams. Leaders who have high-performing C-Suites say they are 42% more effective at managing complex initiatives, 31% more effective at delivering stakeholder value, and 30% more effective at attracting top talent. During times of transition, such as a merger or private equity deal, the quality of a business’s management team is the most-cited reason for deal success and second for deal failure.

 

7. Innovators. Technology is always evolving, offering new opportunities to CEOs looking to transform their business. That’s especially true when pursuing net-zero. It is also true for companies that are making the shift to put software at the heart of their business. Leaders will be looking for innovators with software experience and who want to explore the use of AI in the context of responsibility, trustworthiness and ethics. The trend is for an increasing number of members of the C-Suite to have software experience.

 

8. Empowerers. The best leaders are those who enable their people to make good decisions. Admiral Horatio Nelson is still today recognised as an inspirational leader and an incredible tactician. He knew that once the battle started, there would not be any possibility of communicating between ships so instead he empowered each of his captains to take decisions and risks. He did this by sharing his strategy and communicating in depth with them so they could act with autonomy because they really knew each other and understood the desired outcome. There has been a trend in leaders towards autocracy in recent years – this rarely works over a period of time and makes succession extremely difficult. Leaders need to empower, build morale and make their teams feel entrusted.

 

9. Clear Succession Plan. The leaders of 2023 understand that they need to listen and learn from others to improve and grow themselves. We simply cannot do it all ourselves. These leaders also know that at some stage someone is going to do it better than them and power sharing is in the best interest of everyone, including ourselves. Successful leaders will surround themselves not with sycophants but with people who will question them and provide alternative opinions, feedback and solutions.

 

10. Authentically Support Important Causes. In 2016 Patagonia announced that it would donate 100 percent of its global retail and online sales from the shopping event on Black Friday straight to grassroots organizations that work in local communities to “protect our air, water and soil for future generations”. They made a record-breaking $10 million in sales during the event, a figure five times greater than expected, along with massive media coverage. As the cost of living and environmental crises rage on in 2023, expect to see leaders take bigger, more courageous and more meaningful leaps of faith to support important causes.

Business Trends To Look Out For In 2023

Posted on | by root

Businesses have experienced a lot over the last year – 2022 presented many economic challenges and the new year provides the opportunity to learn, grow and bounce back.

Whether you’re a small business or a large corporation, we’ve listed the predicted business trends for the coming year that you should look out for.

Fintech and the potential of blockchain

The fintech phenomenon is progressing rapidly, with brand-new finance apps becoming available on a daily basis. Managing your money digitally is now seen as the way forward, allowing you to easily budget, save and process payments with just a few taps.

However, the arrival of blockchain technology is set to revolutionise various areas of finance, as well as transport, entertainment and healthcare industries.

With both advancements combined, blockchain technology can help to transform financial processes within fintech law firms, banks and other organisations. Using a fintech ecosystem, transactions will no longer need an external source present, making them capable of completing payments instantly.

Global economic downturn

With forecasts predicting that global growth will start to slow in 2023, businesses are aware of rising inflation and are learning how to deal with this to prepare for the coming months. This unfortunately means lower job opportunities and in certain cases, this will also mean job losses.

Organisations will have to think on their feet, making quick yet lasting decisions on the future of their business. Ultimately, businesses will be reviewing budgets, reassessing financial stability and growth forecasts, and in other cases, offer greater recognition to employees who may be suffering as a result of rising costs.

The rise of Artificial Intelligence

The introduction of Artificial Intelligence has already seen many manual jobs taken over. It’s said that this technology could start to provide challenges for a number of professions, disrupting high-skilled areas.

With the economy in turmoil, businesses now more than ever are looking to increase efficiency and reduce costs where possible. AI can be used amongst a number of professions, performing various tasks such as reviewing contracts, conducting research and drafting documents.

AI models are continuing to become more advance over time. They are trained on large amounts of data and can read human handwriting.

With the increased demand for efficiency and automation, AI technology can handle high volumes of work in short amounts of time, appearing the more viable option than their human counterparts. By removing human stress and high pressure, why wouldn’t businesses want to use this advanced alternative to get the job done?

Sustainability

The need for more sustainable businesses continues to grow. Many organisations are investing more into their sustainability strategy, as it’s known as one of the biggest incentives to change consumer behaviour.

Global warming is a key issue affecting every nation around the world and so companies who take a conscious approach in their operations to address this will be able to gain more credibility.

Consumers are looking for affordable yet sustainable options, so it’s time to embracing change and become transparent with customers in order to progress in our ever-changing world.

6 Tips on Bringing Digital Outdoors  with Digital Out-Of-Home Advertising  

Posted on | by Jennifer Spencer

If you’re looking for an effective, cost-efficient way to get your message out there and grow brand recognition, then digital outdoor advertising may be the answer. Digital outdoor advertising combines the effectiveness of traditional billboards with the convenience and flexibility of digital media. 

Gone are the days when you must rely on a poster in a bus shelter or shop window to  advertise your brand. As brands increasingly move to digital marketing, more companies are discovering the potential of Digital Out-Of-Home Advertising (DOOH).  This technology uses digital signage networks to display ads using digital billboards and other outdoor locations.

But how do you maximize this type of marketing? 

1. Make Your Digital Display Stand Out 

It’s important to design your digital out-of-home advertising to be eye-catching and  stand out in the environment. Be creative by designing digital advertisements that can  use colours, shapes or other details that will draw attention. There’s no doubt that if  you create a unique and attractive advertisement, people will take notice and it will  grab the attention of potential customers. 

2. Make It Relevant 

You should also utilise digital format in public spaces to create videos, animations or  interactive elements that are engaging and relevant to the target audience to capture  their interest quickly as they walk by. 

For example, digital signs can be used in a variety of places such as grocery stores,  health clubs, and more. 

3. Personalisation 

Incorporate data from other marketing channels and customer insights from previous  campaigns into your ad design to create personalised content that resonates with  viewers and encourages them to take a desired action. 

4. Keep It Simple 

Keep digital advertising messages succinct so that viewers can easily read important  information about your product or service within seconds of passing by an  advertisement placed outdoors. 

5. Audience Demographics

Strategically choose placements for digital out-of-home ads depending on the target  audience, so that it is seen by people who are most likely interested in what you have  to offer or have already interacted with your brand before. 

6. Measure Results 

Track the performance of your digital out-of-home campaigns by measuring metrics  such as impressions, click-through rates, and conversions. This will help you understand which placements are working best for your brand and adjust your strategy accordingly. 

Benefits of DOOH Advertising

Digital outdoor advertising has many benefits. These include higher visibility than traditional forms of OOH media, increased engagement by capturing people’s attention through interactive experiences, dynamic display capabilities allowing you to customise your message quickly and easily and greater control over targeting audiences who have been identified as potential customers through data collection  tools. 

You only have to look at the success of the BBC’s outdoor advertising campaigns to  understand the impact of these forms of advertising to grab people’s attention. 

Additionally, digital billboards can be updated remotely, reducing setup time and making it easier to adjust campaigns on the go while also saving money by using one screen instead of many traditional signs. 

By following these tips, you can make the most of your digital out-of-home advertising campaigns and reach a wider audience. With the right strategy, you can create an impactful campaign that will help your brand stand out from the competition. 

Backtesting & Simulation: The Keys To Investing

Posted on | by root

Backtesting is a powerful way of investigating the effectiveness of your investment strategies without actually risking your capital. While you can’t directly earn money through backtesting, you’ll have better chances of making a profit in the future.

In one study, 50% of analysts and traders used backtesting as an investment technique. While this study was conducted on a small number of users, it still shows the benefits to using this method.

Simulation and backtesting are one of the many techniques to help you be a better player in the world of investing. Take a look at the points in this article to see whether backtesting is something you should spend time doing and implementing with your personal trading strategies.

Backtesting explained

Backtesting and simulation are some of the ways of risk parity that help mitigate losses in the future. Many traders rely on using paper trading, using real-time data to present users with potential loss or profit of a trade.

While similar in the end goal, simulating a trade, backtesting utilizes historical data to reconstruct trades of your choice. The reason behind employing this technique is simple – it allows traders to make future predictions.

To confirm whether your trading model is effective, spend time backtesting different trades and stocks. The execution of a backtest can be challenging, depending on how efficient you want this test to be.

An ideal backtesting practice requires a wide variety of representative stocks. You will receive better results if you include data on liquidated or bankrupt companies. Without using such examples for your backtesting practice, you won’t get objective results.

Simulation explained

Similar to backtesting, simulations are also replicas of trades. You don’t risk any money in simulations, but they will give you an insight into what would happen with your money if you make a certain trade.

By using vast amounts of data, simulations predict how a certain trade would play out by inserting and changing particular variables. According to these variables, simulation offers a range of outcomes that might happen.

Many platforms offer free simulations, which allow you to test out specific trades without risking any money. However, the limitation of simulation is that it won’t give you actual experience, and some of them have quite limited features.

For example, a free simulator won’t allow you to trade penny stocks and trades might not be performed instantly but rather with a delay. You will be able to test out some of the common trades, such as equity trades, options trades, and short sells.

Manual vs. Automated backtesting

If you’ve decided that backtesting is the method that you want to apply for your trades, you probably contemplate which way of backtesting is more efficient. Automated backtesting requires running a script or using an online solution to perform backtesting.

On the other hand, manual backtesting requires studying data and then placing trades manually. This is usually performed through a spreadsheet. Automated backtesting has a speed advantage, while you can learn much more about trading through manual experimentation.

Importance of backtesting and simulation

Every trader will need to spend time in the trading world before he refines his trading techniques. Some people will spend a large amount of money in the process, while others can take a more careful and strategic approach.

Instead of risking your money, backtesting and simulation will help you improve your methods before taking any risks. Anyone can use these methods to improve their trading strategy, but there are certain tools and data that institutional traders and people in finance have access to.

Even though backtesting and simulation will help you practice your trading, even the methods themselves will require you to practice them before you have an in-depth understanding of trading.

Backtesting and simulation are important but not essential

You can learn a lot about your trading methods by implementing backtesting or simulation before performing trades. However, many traders with decades of experience haven’t been using such methods, and they are just as successful.

These methods are only a tool that can help you improve your techniques, yet they aren’t critical for every trader. Remember that minimizing the risk of losing money is always the goal of every trader, but even with these techniques, it can never be zero.

You shouldn’t limit yourself to only using simulation and backtesting to make your trades. It’s still crucial to follow the situations on the market, financial news, and high-authority figures in the world of trading.

How To Dispose Of Your Corporate IT Assets Correctly And Safely

Posted on | by Jennifer Spencer

At Concept Management both your business security and the environment matter to us and we are passionate about helping our corporate clients and CEO’s to recycle and dispose of their company’s computer ware responsibly. Proper disposal of computers is important for several reasons including keeping your used computer hard drive content private and releasing the recycling potential from your devices. The potential for recycling raw materials in computer hardware is vast and contributes to us collectively reducing the negative impacts of tech waste in the UK.

As CEO or manager of your business, I’m sure you’d agree that computers are an integral part of the modern world. They are electrical devices that work by processing information and data. The likely hood is you are reading this from your own computer, tablet device, phone, or maybe even a wearable tech so you may know about some of the many other things computers are good for. Besides surfing the internet, on a computer, you can type documents, create spreadsheets, make images, edit film or music and even play games. Computers are made all over the world and there are major brands such as Apple, PC, Windows, and Lenovo that make vast ranges of computers internationally.

When computers age they can become slower and less reliable. This can cause problems if a computer is relied upon heavily for work or personal use. As your computer ages, it may become unfit for purpose, and you may therefore seek an upgrade. Here at Concept Management, we care deeply about giving our clients the power of choice that this stage. It is important that you dispose of your computer and hard drive safely and correctly. Safe recycling or disposal of computer equipment is very important for both security and the environment. Whether you are needing to take care of personal or business computer disposal and recycling, we have some key information to help you do it well.

Where recycling is not possible, responsible computer equipment disposal is also crucial as it can affect the environment and disposal services in the UK if you don’t correctly follow WEEE legislation and guidance. Along with your computer itself, we also offer responsible recycling and disposal of other hardware including your keyboard, mouse, cables, monitors, laptops, and external storage drives.

We offer a full range of services in corporate computer and IT equipment disposal where business recycling is at the center and disposal is kept to the minimum. Where we can recycle, we will, as reusing precious raw materials in newer models is a great way to reduce the amount we mine the earth’s resources. Working ethically and ecologically is a priority for us as we want our customers to benefit from updating their technology in the most environmentally friendly way possible. We have fully trained and vetted staff who can assist you or your business with meeting your computer ware disposal needs which surpass the WEEE Directive.

If you do need to completely start again with your business computer equipment, we recommend that you use an expert service you can trust to ensure that your computer is effectively cleaned of any sensitive data before it is disposed of. Concept Management offers an ethically and efficiently minded service with onsite destruction of physical kit, hard drive erasure, and other options for your obsolete computer ware at our HQ site.

The tech industry and culture is moving at a faster and faster rate and the demand for rapid renewal of devices is becoming a world waste issue. Where possible, reusing precious raw materials from older computers and devices and repurposing them in new ones is key in closing the production cycle. Disposing of your business’s electronic waste without proper content erasure or approved disposal methods is dangerous and illegal. But, at Concept Management we encourage our customers to go one step further than following the regulatory computer disposal guidelines as we offer a comprehensive and pioneering recycling service.

With highly trained staff, schooled in the practical and ethical issues around safe data sanitizing processes, we can confidently offer you a safe and hassle-free computer disposal service. So, whether you need information on the process of how to destroy your hard drive from your computer before recycling it or simply would like a quote for the job you need doing we are happy to help. You can rely on our expertise and experience for all of your computer recycling and data disposal needs.

There are so many advantages to choosing to recycle your computer. From Macs to PCs, we want to have the opportunity to reuse the precious elements found in your old model and repurpose them again and again. Entrusting your computer to an accredited service provider such as Concept Management is also a way to avoid harsh and toxic chemicals being released into the environment and polluting our treasured planet. We work beyond the WEEE directive standards which means you have the added benefit of being assured that your data and hardware are being dealt with properly. Improper disposal of computers can leave both you and the environment vulnerable, so we take every step to make your experience with us, is safe. We work with each customer, to offer a bespoke service for the needs of your job and offer our expert advice all the way, so you can make informed choices about your computer recycling and disposal options.

 At Concept Management, we work to be leaders in the responsible and ecologically focused approach to computer recycling and disposal. Our HQ is based in Manchester and due to the substantial demand and our ability to meet it, we have a large team of brilliant staff that offer a 24-hour-a-day service during the 5-day working week. We have the know how that we believe will make a difference as we progress as a nation into greener ways of managing our old technology. First and foremost, we care about protecting our client’s security and helping them to do their bit in taking care of the environment with regard to their computer recycling and disposal needs.

high angle view of multiracial young business people working with computers and documents in open space office

How to Retain your Best Talent During the Cost of Living Crisis

Posted on | by Magdalena Lew

By Ollie Russell, UK Head of Sales at Employment Hero

The post-pandemic worker shortage does not appear to be going anywhere.

In November 2022, 13.3% of businesses surveyed by the Office for National Statistics reported experiencing a shortage of workers. With many people deciding to change careers or exit the workforce entirely, experienced employees who you can trust are more valuable than ever.

And yet these same employees are finding it very tough due to rising costs. This kind of pressure could make it far easier for a competitor to “poach” your best employees – loyalty only stretches so far when you’re struggling to make ends meet.

Here are three strategies you can put in place to help retain your best talent now.

 

If you can, pay them more

It’s obvious, but the best way to retain someone who might be tempted by a higher offer elsewhere is to match that higher offer, possibly before the new offer is even made. 

If someone is mission critical to your business, pay them a salary that recognises that.

After all, if an employee comes to you with a higher offer from someone else, only to have you immediately match it, they will wonder why you didn’t value them earlier.

Most businesses will not be able to increase employee pay to match the very high levels of inflation in the last year, but some level of increase will help.

But a pay-rise is not the only way to increase compensation for an employee you think deserves it. A one-off cost of living payment or bonus won’t eat into your ongoing costs in the same way, but will let your employee know that you value them and want to help them through this difficult period.

 

If you can’t, embrace flexibility

Not all businesses will be able to give big bonuses or pay-rises to their best employees. But there are other ways you can help that don’t involve a pay-rise.

One example is by buying back any annual leave they receive over the statutory amount. This gets a liability off your books while providing them with some extra cash – if they need it. This should only be done if your employee actually wants to sell some of their leave.

Another crucial retention strategy is embracing flexibility in how the workplace operates. British workers love working from outside of the office. Our Remote Working Report found that 88% of office workers wanted to work remotely at least one day a week, and many were willing to leave jobs over it – 33% of 25-34 year olds said they would likely quit if forced into the office full-time. 

Embracing flexibility doesn’t just mean allowing work from home. It could also involve you purchasing some equipment to make that work from home more comfortable and efficient, or subsidising public transport fares for trips to the office if you are insisting on them.

 

Roll out perks

There are many extras you can provide an employee alongside their salary – and some of it doesn’t have to cost you anything.

Salary sacrifice schemes for cars, bikes or gym memberships and the like see your employees use their pre-tax income to pay for the benefit, netting them huge savings without necessarily costing you anything. You may have to take on some liability, but not a particularly large one.

These perks are great at making a job sticky. Quitting your job is hard enough – quitting your job and also losing your electric car is even harder. Low benefit-in-kind rates for clean commuting are sticking around until at least 2028, despite a slight rise – which means these deals are very good for your employee as well as you.

Other perks could include a phone contract or extra annual leave, both measures which make jobs very sticky. There is also a lot of evidence to show that workers who take a decent amount of time off are actually more productive – so you could be helping yourself by helping them here.

These strategies all differ somewhat, but they really boil down to one thing: making sure your best talent knows you value them, and understanding if they are going through a tough time. If you get that right, they should stick around.

How To Manage Brand Ambassadors at Your Event

Posted on | by root

As a company, creating a strong presence at events is essential to promote your brand. One of the most effective ways to do this is to have brand ambassadors. They can increase your company’s visibility to reach a wider audience. However, managing brand ambassadors at an event can be challenging. This article will give tips on managing your ambassadors to ensure your brand is represented in the best possible way.

What is a brand ambassador?

It is a person who represents a brand or company and positively promotes its image and products. It can be a celebrity, an influencer, or simply a loyal consumer of the brand.

An event staffing agency can hire brand ambassadors to participate in advertising campaigns or promotional events. In addition to promoting, ambassadors can also provide valuable feedback on market and consumer trends.

What are the advantages of using brand ambassadors?

– Increases your brand’s visibility.

– Improve brand image and promote your brand values.

– Facilitate contact with people at events and make them interested in your company.

– Increase customer trust and loyalty.

– Influence consumer decision-making.

– Help achieve event objectives

How to manage brand ambassadors for an event?

1) Set expectations

Before hiring a brand ambassador for an event, you should clearly state their activities. Here are some of the questions to ask:

– Will they only promote or will they interact with the public?

– What will their activities be during the event?

– What are the expected results?

– What rewards or incentives will they receive for their participation?

– What are their costs?

You must inform event attendees who will be brand ambassadors to build expectations and interest. You can include this information in the program, website, or event hashtag.

2) Define goals and objectives for the ambassadors

You need to inform the brand ambassador about the goals and objectives you hope to achieve. Make sure these objectives are realistic. This will help ensure that the brand ambassadors contribute to the event’s overall success. Also, it will help you determine which ambassadors have the most significant impact on your brand.

3) Select and recruit ambassadors

Once the objectives have been identified, selecting and recruiting ambassadors who can best represent your brand at an event is crucial. Ensure the chosen ambassadors have a positive reputation and a relevant audience for the event. You can review the ambassador’s history of involvement with other brands to see what impact they previously had.

4) Train brand ambassadors

Depending on the level of involvement you expect brand ambassadors to have at events, they may not need any training. If they are expected to do more than promote, then they should be trained to do so.

Many event staffing agencies offer training to brand ambassadors, regardless of their level of involvement. It ensures that ambassadors are prepared for the event, know what is expected of them, and are capable of performing their duties.

5) Monitor Ambassador Performance

Monitoring performance allows you to measure the impact of the ambassador’s presence and role in promoting the brand. Some of the benefits of monitoring include the following:

– Evaluate interaction with the audience. This can help detect problems with representation or interaction with the public. It lets you know how the ambassador is representing the brand.

– Identify opportunities for improvement. For example, if a brand ambassador is particularly effective at interacting with a specific consumer group, you might consider hiring them for future events.

– Obtain feedback. You can get direct feedback from brand ambassadors and event attendees. This can help the company improve its approach and strategies for upcoming events.

Conclusion

By following these steps and with the help of an event staffing agency, you can ensure that your brand ambassadors are well-managed and successful at your event. With the right people, training, and materials, your brand ambassadors can effectively promote your brand and help you get the most out of your event.

luxury bathroom

The Builder’s Choice for Functionality, Durability and Affordability

Posted on | by Magdalena Lew

Aesthetically appealing and practical, Lauxes Grates provides elegant water drainage solutions for indoor and outdoor applications. Trusted by clients the world over, we take a more in-depth look at the man behind it all, Tim Dawson, as he is recognised in the CEO of the Year Awards 2022.

Established in 2010, Lauxes Grates (trading under Lauxes Products) is one of Australia and New Zealand’s most exclusive designers and manufacturers of versatile indoor and outdoor drainage solutions.

With more than 20 years’ worth of combined trade experience, the firm’s knowledgeable and highly skilled developers have created unique, innovative, and aesthetic products to meet market specifications.

Lauxes Grates was initially developed with more than 1,000 product lines, however by later focusing on just one product, it allowed the company thrive. The Australian business has come a long way from its original 24 distributors when the decision was made to focus on linear grates. Today, as an industry leader, the firm is always on to the next best thing. With its head office located on the Gold Coast, and warehouses in Western Australia and Victoria, expansion is inevitable. Now with 50 employees, and availability through more than 2,000 wholesalers (and growing daily) across seven different countries, the company’s in-depth product knowledge has kept it well ahead of the competition over the years.

Capably steering the firm at the helm is Chief Executive Officer, Tim Dawson, who created Lauxes Grates with an idea, a plan, and a determined mindset. Seeing a gap in the market and an increase in home development projects, Tim designed the award-winning range of linear drainage. Almost 13 years later, several re-thinks and major decisions taken, and along with his ever-growing and dedicated team, he’s finally riding the waves of success.

“We’ve become a popular builder’s choice for durability, functionality, and affordability,” explains Tim, who was born and bred on the Gold Coast. “I know what it’s like to be using material that’s not up to scratch. Over the years, I’ve often worked with products knowing that the person who made it has never used it. That’s one of many things that makes us different.”

With a demonstrated history of working in the electrical and sanitary manufacturing industry, Tim is skilled in sales, business development, marketing strategy, business strategy, and leadership, gleaned from his time spent in high-end roles and has developed a strong business development focus in building company cultures and principles.

Whilst Tim may be the genius behind the firm and its innovative grates, he is also an inspiring leader who always encourages his employees to be the very best they can be. He enjoys family time on weekends with his wife and three children, and also loves to personally challenge himself at hardcore physical events such as True Grit or Tough Mudder.

But Tim is also a big believer in his people and that behind every ‘grate’ company, there is a dedicated team helping to fly its flag. Through Lauxes Grates, he genuinely values the staff he has.

“The product has been the vehicle of our success, but the best part of our business is the team,” he elaborates. “It is, without doubt, our best creation. It’s a fun and inspiring company to learn and grow in. That’s what it’s all about to me. I genuinely enjoy being a leader – not being a boss just telling people what to do but really leading.”

With a strong focus centred on the firm’s core values, Tim ensures that everyone is singing from the same hymn sheet to meet customer expectations each and every time.

Constantly looking ahead, anticipating and responding to change quickly, and challenging the status quo, Tim describes his team as problem solvers who are able to be adaptive to change and think outside of the box.

“We encourage and value informed initiative-taking,” he goes on to say. “We are action takers and see issues and problems as opportunities to improve. We feel empowered by empowering others. The thrill and excitement of growing as a company is infectious, creating a fervent team culture within an inspirational environment.”

And 2022 has been a year of successes for Tim and the team, including its attendance at several incredible expos such as the Sydney Build and Design Show, which widened the firm’s circle of influence substantially. The Lauxes family also grew by 18 people over the year, making the total nearly 50 strong.

“It feels like only yesterday I had a team of five,” Tim laughs. “As always, I’m so proud to surround myself with these people every day, the people that keep my vision alive and make it all possible.”

Furthermore, 2022 was a year of many firsts too, including the firm’s first magazine features, plus the launch of its gold grates, a release that Tim never anticipated would be as big as it was and the demand of which has surpassed all of his wildest expectations.

It was, however, not without its challenges, and as a determined and pragmatic leader, Tim took a proactive approach. “There were multiple challenges and times we had to pivot,” he tells us. “But sticking to our core values, we have worked tirelessly to make things happen and improve in the areas that encountered some problems.”

He continues, “My business success is a result of all the mistakes I made. In former businesses when I was younger, I didn’t appreciate people the way I do now. I kept a lot of secrets and it didn’t serve me well. I was broken when I went bankrupt. Without that bankruptcy experience behind me, I wouldn’t be here.

“All I can say is ‘wow’. Another year done and dusted. It’s safe to say 2022 was wild, challenging and rewarding for the Lauxes Grates team and myself!”

As a leader in the industry, Lauxes Grates has received a plethora of awards over the past few years. These include ProTrade United awards for categories such as Team Leadership, Student Engagement, and Business of the Year, as well as the annual Gold Coast Business Excellence Award in 2020 for Retail, Wholesale & Distribution, and many more. Plus, Tim has been named amongst the Top 100 Young Entrepreneurs of Australia for three years running in 2019, 2020, and 2021.

The most recent accolade to add to the trophy shelf and further uphold Tim’s reputation as a ‘grate’ leader comes in the form of CEO of the Year, 2022 – Queensland, Australia, as recognised in CEO Monthly’s CEO of the Year Awards.

Understandably delighted to receive this much-coveted title, Tim now has big plans for the future. With relationships already established in Europe and the US, the global expansion is in full swing. Having recently opened a new Global Headquarters in Ashmore, just five minutes down the road from the Australian headquarters in Molendinar, Tim and the team are gearing up to take this company to the next level, continue building their global empire, and taking the world by storm, one grate at a time!

“As the business grows, so do our amazing professional and personal networks,” he enthuses. “I appreciate every message, every connect, and every call or email – Lauxes wouldn’t look the same without the incredible amount of support behind us!”

For business enquiries, contact Tim Dawson from Lauxes Grates on their website – www.lauxesgrates.com.au

How to Grow Your Business in 2023

Posted on | by Jennifer Spencer

The business world is changing, and business owners need to change with it. What was once a straightforward process of selling goods or services has become a complex ecosystem that requires a solid strategy to help you understand and anticipate consumer trends. While it might not always be easy to accomplish, there are ways to grow your business in 2023 and beyond.

How Do You Want to Grow?

Growth looks different for every business. While smaller organizations may want to expand their customer base, larger, more established ones might want to focus on improving their ROI. The first step is asking yourself what your business is missing. One element that might come as a surprise is the education factor. Even the most knowledgeable leaders need to continue their education. In fact, there are plenty of reasons to consider returning to college and earning another degree.

As the economy continues to change, you need to understand the best ways to expand, and that may require learning the inner workings from a different angle. There are Going Merry scholarships for college students available as an excellent way to get the continued education you need without having to dip into your savings. You can apply for a scholarship and once approved, you can then further your education while still building your empire.

Identify Your Challenges

To grow in 2023, you also need to identify your challenges. These challenges also look different for everyone, so you need to know what yours are, not your competitors. Identify specific challenges and then create a list of viable ways to resolve them. Keep in mind that this list is just a way for you to put your thoughts on paper. Over time, the possible solutions may change, especially if your challenges change as well.

Identify Target Market

Not marketing to the right people is not only a waste of time, but also a huge waste of money. In addition to knowing what your challenges are, you also need to know who you want as a customer. You need to get to know them on a personal level, identify their needs and understand what makes them unique. If your company is already up and running, you should already have a pretty good idea of who these people are. If not, it’s time to reevaluate your strategy and start marketing to the right people.

Establish Your Core Values

Your core values are one of the most powerful tools you can harness. Once you clearly define them, you can use to shape your mission statement, marketing strategy, and even the way you interact with customers. Your core values also play a huge role in how you interact with your employees. Team members need to understand your values, so they can implement them into how they do their job. They also need to know how your values will impact how they shape the way your organization works. In turn, employees will like their part of something bigger, not just collecting a paycheck.

Create Company Culture

Company culture is one of the most important elements you need to focus on. You need to refresh employee mindset and create a company culture that makes employees want to work there. Far too often, people feel trapped in a job they don’t want. The right company culture boosts employee retention and creates a happier workplace overall.

The Best Proven Ways To Be Successful At Employee Management as a Leader

Posted on | by root

Any person can have a big office, delegate duties, and manage a team. However, there’s more than meets the eye when it comes to being an effective leader who can impact teams for the overall success of an organisation.

Employee management is an essential aspect of leadership and success. It involves setting clear intentions for your team, being there for them, providing work resources for goal achievement, and communicating effectively. It also entails motivating your team, delegating duties, and empowering staff to perform exemplary. In this discussion, we explore the best-proven ways to be successful in employee management as a leader.

Team Engagement Through Support

According to a Harvard Business Review, future leaders must possess three major roles: catalyst, architect, and bridger. For this reason, great leaders support their employees to succeed in their everyday duties.

For your team to be effective in their roles, they need equipment, tools, training, and support. As their manager, you should be available to respond to their concerns, provide guidance and solve problems as soon as they arise.

Ensuring There’s Effective Communication

A leader who fails to communicate with employees can lead to confusion, a toxic work environment, and high turnover. Popular motivational speaker Marcus Buckingham emphasises the importance of managers communicating with teams.

Effective communication enables leaders to set goals and define them more clearly. It also helps managers understand how teams embrace goals through a two-way feedback mechanism. Solid communication structures help facilitate open and positive rapport with your teams, thereby increasing productivity.

To master the art of communication as a leader, you need to be authentic because individuals value sincerity in their leaders. It will help if you are visible by keeping your office open and encouraging face-to-face interactions. This way, your team will perceive you as approachable, enhancing openness. As a good communicator, you must be a great listener, seek feedback and often walk the talk.

Build A Strong Connection With Team

Terry Starbucker St. Marie, a startup investor, writer, and consultant, cautions managers to avoid practicing leadership by “Osmosis.” You must establish and build a strong connection with your team. There should be mutual trust in the workplace; to achieve this, you need to be more human.

Leaders must instil positivity in their employees and be compassionate and empathetic to their needs. When you build a personal connection, you’ll develop a shared trust vital to developing a strong structure of exceptional performance. You can focus on individuals’ qualities, personalities, strengths, weaknesses, and preferences. Knowing these qualities gives you an insight into factors that motivate your employees.

Encourage Career and Personal Growth

As a leader, you should encourage your team to build their careers through learning and development opportunities and initiatives. These may include the provision of personal development courses and mentorship programs. It can also involve listening to employees’ career plans and providing support and guidance to their achievement.

By supporting such initiatives, you will create a positive and supportive work environment and develop future leaders necessary for company continuity. Furthermore, this allows you to have a pool of talented individuals to fill staffing gaps.

Develop Employee Recognition Programs

Employee recognition is something that many leaders should consider, when wanting to reward great performers. A good employee recognition program motivates employees and provides opportunities for appreciation and rewards. By having recognition structures at the workplace, your employees will be encouraged to reach certain milestones and accomplish their goals.

As a leader, you should create an environment where your team is rewarded for creativity and success. Encouraging team collaboration and boosting productivity are goals of an effective recognition program.

Delegate Effectively

A great leader possesses organisational skills and can delegate tasks to others. Delegation enhances employee engagement and improves job performance, thereby increasing business productivity. An effective leader understands the importance of delegation, which improves employee motivation and satisfaction for the company’s betterment.

It can be lonely at the top if you do everything by yourself. Delegating responsibilities empowers your team, grows careers, and builds trust. Moreover, it helps you to identify your employees’ strengths in tackling different projects and prepares them to be future managers.

Conclusion

A successful leader requires managing employees by creating a work environment that fosters engagement, communication, collaboration, growth and development, and strong team spirit. If you consider using these steps, your role as a leader may not be as daunting.