Category: Articles

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.

Men walking next to a blue sign

Joyous Adventure from Austria for Austria

Posted on | by Magdalena Lew

Established in 2003, Jollydays GmbH provides thousands of leisure experiences in Austria and Germany, with something available to suit every interest. Vid Matic took on the company as CEO in March 2021, and he hasn’t looked back since. In light of him being crowned CEO of the Year – Austria, we sat down and had a chat with him about Jollydays and his own career.

For 18 years, Jollydays has been offering all kinds of adventure gifts, whether for the food lover, thrill seeker, romantic, traveller, or wellness and relaxation enthusiast. Over almost two decades, it has made a big name for itself in the Austrian market for being one of the go-to leisure providers. Its team works tirelessly to bring clients the best possible service, the most exciting offers, and the most unforgettable experiences – keeping them coming back time and time again.

With over 6,000 experiences available, including cooking classes, candlelight dinners, wine tasting, quad biking, driving dream cars, skydiving, paragliding, spa days, hot balloon rides, and much, much more, customers are truly spoilt for choice when it comes to selecting the perfect gift for that special someone or even treating themselves.

Now, Vid Matic leads the company with a passion for looking after his team and providing the best possible experience to each and every customer. He tells us, “We took Jollydays on because we thought the brand name was very strong, and it’s super expensive to actually develop a brand. You can throw millions down the drain to achieve nothing, but Jollydays was organically grown.” And the company continues to thrive under his leadership, with core values of emotional intelligence, inclusion, transparency, people-focus, and joyfulness underlying everything the team does. He says, “I’m as good as my people. I’m here as kind of chief motivator. I make decisions, but I live and die by my team.”

As leader, Vid sees output as the most important thing. As long as everyone in the team is achieving the company’s goals, he isn’t a stickler for how many hours are spent in the office or how long it takes to complete a task. The important thing is that work gets done. In line with this flexible leadership style, he wants his team to feel that they can approach him, no matter what it’s about. He has come to know how his people work best, respecting that some prefer space while others need a little more support and guidance.

Vid states, “I try to be friendly with everyone on my team. You spend your whole day, the majority of your life in an office surrounded by people, and if you don’t love them or like them, then there’s no purpose in it.”

He goes on to tell us more about his team, “They play the absolute role. I can push and want and motivate, but it is their output that is vital. The truth is, I hire people who are better than me. In marketing, in finance, in technology, in customer relations, and more, they are the specialists. I need to have sound understanding of all topics, maybe be great in a few areas. For example, my chief financial officer, of course he’s better than me. He needs to be; I depend on him. My chief marketing officer, of course she’s better than me. I rely on her. At the end of the day, I have to make the final decision, but I fully, fully depend on them. I got very lucky that the people I’ve brought in so far have been fantastic. Fantastic people and fantastic experts.”

Armin Sageder, the majority shareholder of Jollydays, is the person Vid refers to as his mentor and part of the reason for his success. “He chose me as his CEO, my first such role, and showed his belief in me,” Vid states. “This belief continuously fills my sails and is an incredible driver. Armin has founded and built up Paysafe and Best Gaming Technology, both incredible tech successes, so his advice and mentorship is worth its weight in gold. The real reason behind my admiration is that whilst achieving incredible success, he has maintained his empathy and a lack of pretentiousness. For me, that is rare and special.”

Although Vid and his team are experts in what they do, that’s not to say that it’s been all roses. As soon as Vid became CEO, he had to navigate the storm that was the pandemic. A company that is extremely dependent on events suddenly found itself with an extreme challenge of events not being able to happen. Not only this, but Vid was also managing a restructure, hiring new people, and getting ready for a relaunch in 2023 – where content will become all the more accessible and bookable within a couple of easy steps on the new Jollydays platform.

Speaking about facing all of these challenges, Vid says, “Trying not to reduce the team, trying not to cut anyone’s time… the crisis really sharpened my teeth, our teeth, because we could not have expected a global pandemic to hit and not be able to do anything. So, taking over a company at that time, that was a super challenge. But, what I always tell the guys here, always remember the way there; once we reach the mountain top, it will be a momentary kind of bliss.”

Then there is also the recession, with Vid explaining, “What happens in a recession is leisure suffers. The tourism industry, the hospitality industry, because if people cannot provide for their security and welfare, then they won’t be thinking about leisure.” This could be an ongoing challenge, as he continues, “If there’s a recession next year, it’s how to be more flexible with revenue streams coming from other places. Also preparing for our relaunch, of course. It’s just important not to panic, to be calm and adapt.”

With confidence, Vid tells us, “We made sure that the company’s flexible enough that we can pivot really quickly.” However, he also believes that it is important for his team to see weakness, that things can be difficult, and that anyone can make mistakes. Thus, Jollydays holds weekly sessions where everyone presents one of their own failures, with Vid saying, “Showing a bit of blood, showing that you can also bleed, showing that I can be sick and I’m not doing well, or I’m going through a relationship breakup and it’s really affecting me. There’s no hiding.”

Vid undeniably loves his work, too, and this shines through in his devotion to his role and his efficiency in it, with him saying, “I’m quite quick with my decisions. Energy-wise, I usually have excess in reserves. I can go at a strong pace for a long time during the day, and I like a mix of everything. I like structure in my work, but I also need this kind of flexibility within the structure to feel comfortable.”

Ultimately, it’s easy to see how Vid Matic has come to achieve such success as CEO of the Year, from his dedication to his work, to leading his team with empathy, admiration, and respect. He is excited about the future of Jollydays, where the aforementioned relaunch will be taking place, developed by Vid’s other company, Jollytec. He gives us a little more insight into that: “We want to be the place where you can organise and book all of your free leisure time. From a concert to a cabaret, to a skydive, a dinner in the sky, or a drive in a Lamborghini. You can do and find everything through our app, with the help of a few well-thought out filters.”

He explains further, “It’s just finding a better way to do something that people already do but waste a lot of time doing and get frustrated. Everyone can go on Google and find what they want if they search hard enough, but now you’ll have it there in one place, and you can also find other content there.”

With regard to the future of his own career, Vid says money isn’t a driver for him, but rather it’s about doing what he loves. He wants to become more knowledgeable, kinder, more sympathetic, and a better leader. He says, “At this point, I’m really enjoying what I’m doing. I want to grow; I want my people to grow. I want to teach them and for them to teach me. I will do some academia, too, some seminars, but only if time allows for it because my people, my companies are my absolute priority.”

For business enquiries, contact Vid Matic from Jollydays GmbH via email – [email protected] or on their website – www.jollydays.com

Team leader irritated man disagreed with colleague female

Perception Drives Distrust in Woman Leaders

Posted on | by Magdalena Lew

By: Sharmla Chetty

It pains me to see that trust in women leaders has fallen according to the latest results from The Reykjavik Index for Leadership, but I am not surprised.

The report itself struggles to conclude why trust levels have dropped but suggests there are long-standing gender biases and prejudices that exist in our society which are perpetuated by the media, by deep rooted cultural norms, and supercharged by the political landscape and the pandemic. In other words, there is no hard data to support the results, it’s driven by perception.

On the contrary, there is data to show that women leaders have demonstrated strong leadership throughout the global pandemic. For example, according to a Covid study of 194 countries by the Centre for Economic Policy Research and the World Economic Forum, countries led by women had “systematically and significantly better” outcomes suffering half as many deaths on average as those led by men.

Additionally, female political leaders and public figures are often targeted and harassed online or by the media. At a recent media conference between Finland’s Sanna Marin and New Zealand’s Jacinda Ardern, a male journalist asked if they were meeting because they are both women and of a similar age. This is a condescending question never asked of men.

Not only do these micro-aggressions discredit women, but they also have devastating effects on perpetuating negative perception of our women leaders, which in turn can discourage other women seeking or aspiring towards leadership roles.

The Reykjavik findings support this, stating “Perception matters: it manifests in numerous and deepening inequalities across every aspect of society, government, and business. It leads to further prejudice in the education choices and opportunities offered to girls; it impacts the paths of careers, interrupting earning potential and access to basic livelihoods.”

Consider the devastating cost to businesses and our society at large if this continues. Time and time again research has shown companies that invest in gender diversity at an executive level are more likely to have above-average profitability. While companies with more than 30% senior female leadership were more likely to outperform those that don’t.

Yet this latest survey revealing declining trust for women in leadership shows us that there is still much to be done at all levels – whether it is individuals, private organisations, or policymakers – everyone has a role to play by not looking away. Instead, we need to step up and use our voices to create real change.

Women’s rights should not be relegated to a day, or even a month, but remain central to the strategy of every business. Currently only eight women, and no women of colour, are employed as CEOs in the FTSE 100. Quotas alone will not shift the gender scale for female representation in corporate boards and leadership teams. We need companies to be transparent and accountable in relation to gender-equal hiring practices and promotion processes. There should also be policies introduced to close the gender pay gap, increase financial support for female-led businesses, and improve the protection of women from workplace discrimination and sexual harassment.

The data is clear. The research is solid. Inequality remains a challenge to our gender. And yet, I have hope, as I have witnessed the efforts of many strong female leaders in my time at Duke Corporate Education who have been at the forefront of progress for many decades. It is more important than ever for us to recognise and celebrate their work as they have shown us that the success of every woman has inspired another who has followed in their footsteps.

About the author: Sharmla Chetty is the CEO of Duke Corporate Education (Duke CE) where she is driven by her purpose of transforming organizations and society through leadership.

Sharmla Chetty

The Ultimate Guide to Managing Your Corporate Car Parking

Posted on | by root

Do you have a corporate car parking system that is chaotic, inefficient, and difficult to manage?

If so, you are not alone. Many businesses struggle with how to effectively manage their corporate car parking, leading to wasted time and resources.

Having a streamlined car parking system is essential to maintain a well-run organisation, and this guide provides you with the best of the tips you need to make your car parking system hassle-free.

By learning how to properly manage your corporate car parking, you will be able to maximize efficiency and reduce costs.

This article covers everything from the basics of corporate car parking and creating an organized car parking system to the best practices for managing it.

With the right strategies and tools, you can make your car parking system run smoothly and save both time and money.

Know that an average car spends 95% of its time parked, and as it is a valuable asset, you must look after it.

So, get ready to make your corporate car parking a breeze.

Corporate car parking

Corporate car parking is the process of providing parking spaces for employees and customers of a business.

It’s an important part of any corporate operation, as it provides a convenient place for people to park their cars and ensures that the company’s premises are safe and secure.

The process of corporate car parking typically involves setting up designated parking spaces, installing appropriate signage, and managing the parking area.

In addition, corporate car parks often have additional security measures in place, such as CCTV cameras and access control systems.

The benefits of corporate car parking are numerous as mentioned below:

Benefits of corporate car parking

There are numerous benefits to having a corporate car park, including:

Improved customer experience: Providing a convenient and secure place for customers to park their cars can help to improve their overall experience at the business.

This is especially important for businesses that rely heavily on customer traffic, as it can help to make them feel welcome and appreciated.

Improved employee morale: Providing a safe and secure environment for employees to park their cars can help to improve morale, as employees feel that their vehicles are being looked after.

This helps to boost productivity and loyalty among employees. Afterall, improving employees’ morale and keeping them engaged would lead to 22% more business profitability.

Reduced risk of theft and damage: Corporate car parks are often equipped with additional security measures, such as CCTV cameras and access control systems, which significantly reduce the risk of theft and damage to vehicles.

Attractive premises: A well-maintained and attractive car park helps to make the company’s premises more attractive, which helps to attract more customers and employees.

Corporate car park technology

In recent years, technology has been increasingly used to manage corporate car parks. This includes:

Online company parking booking systems: Online company parking booking systems help to streamline the process of booking parking spaces, as employees can easily book their spaces online.

Automated payment systems: Automated payment systems help to streamline the process of paying for parking, as users can easily pay for their spaces online.

Smart parking systems: Smart parking systems help to ensure that the car park is well-maintained, as they can monitor the number of available parking spaces and help to identify any potential problems.

Mobile apps: Mobile apps help to manage the car park, as customers can easily book their spaces and pay for their parking.

Steps to create an organised car parking system

Determine your car parking requirements

Before you can begin the process of creating an organized car parking system, you need to determine your car parking requirements.

What are the number of employees and vehicles expected? Do employees commute in groups, or do they travel alone?

This helps you select the appropriate amount of car parking spaces and determine how to best organize them.

Also, don’t forget to listen to your employees because they’ll be the ones using this parking system the most.

The best way to do this is by doing a survey. Run a questionnaire throughout your organization, including open and close ended questions in it.

The survey will give you an idea of the problems faced by your employees, and that will surely help you build a parking system that works the best for your organization.

Identify the different types of vehicles in your car parking system

There must be some employees commuting by their personal vehicles, big or small, and some must be commuting in groups into minivans or buses.

So, their vehicles are of different sizes and require different spaces.

You can further subdivide these categories based on vehicle type and amount of mobility.

For example, you may want to designate one area for regular cars, one area for SUVs, one area for minivans, and another area for large commercial vehicles.

By properly identifying and categorizing vehicles, you can create a system that is easy to follow and maximizes efficiency.

Create a visual representation of your car parking system.

Once you have determined your car parking requirements and identified the different types of vehicles in your system, create a visual representation of your car parking system.

A good visual representation helps you easily identify areas that need improvement, and it helps identify any potential issues before they arise.

You can use floor plans, diagrams, or a visual car parking app.

Set a budget and hire a well-reputed contractor

Now that you’ve all the requirements and plan in front of your eyes, you can roughly estimate the budget it would require.

Better, talk to different contractors and ask for the budget estimates for this whole project.

You can even advertise a request for proposal (RFP) and call for competitive bidding. By this, different contractors will approach you with proposals and their portfolios, along with with a proposed fee of the whole project.

You can then evaluate each of these proposals and hire a contractor that seems best to you.

Corporate car parking regulations

In order to ensure that corporate car parks are safe and secure, it’s important to adhere to the relevant regulations. This includes:

Making sure that the car park is well-lit and that there are appropriate signs in place.

Ensuring that the car park is regularly maintained and that all safety regulations are adhered to.

Making sure that all access control systems, such as CCTV cameras, are in good working order.

Ensuring that all vehicles are parked in the correct spaces.

Making sure that parking fees are paid in a timely manner.

Adhering to these regulations helps to ensure that the corporate car park is safe and secure, and that all customers and employees feel comfortable and welcome.

Corporate car park security

One of the most important aspects of managing corporate car parking is security. It’s essential to make sure that the car park is secure and that all vehicles are safe.

This can be achieved through a variety of measures, such as:

Installing CCTV cameras: CCTV cameras help to deter criminals and can also help to identify any suspicious activity.

Installing access control systems: Access control systems, such as keypads and swipe cards, help to restrict access to the car park and also help to identify who is entering and exiting the car park.

Installing motion sensors: Motion sensors help to detect any movement in the car park and alert staff if there is any suspicious activity.

Ensuring that the car park is well-lit: Ensuring that the car park is well-lit helps to deter criminals and identify any suspicious activity.

Corporate car park regular maintenance

It’s also important to make sure that the corporate car park is well-maintained. This can be achieved through regular maintenance, such as:

Cleaning the car park: The car park should be regularly cleaned to ensure that it is free from debris and that it is safe and secure.

Repairing any damage: Any damage to the car park should be repaired as soon as possible

Ensuring that the car park is properly marked: The car park should be clearly marked to ensure that all vehicles are parked in the correct spaces.

Corporate car park signage

Make sure that the car park is properly signposted.

This helps to ensure that customers and employees are aware of the car park’s regulations and helps to prevent any confusion.

It’s important to make sure that all signage is clearly visible, and that it is in line with any relevant regulations.

Also, make sure that the signage is regularly maintained and updated.

Make your corporate car parking a breeze

Corporate car parking can be chaotic and difficult to manage, but it doesn’t have to be.

By following the tips outlined in this guide, you can create a streamlined car parking system that is easy to follow, maximizes efficiency, and reduces costs.

Having a well-managed car parking system is essential to maintain a well-run organization, and this guide will provide you with all you need to make your car parking system hassle-free.

CE-hO-ho-ho! 6 Meaningful Christmas Gifts CEOs Can Give to Employees

Posted on | by Jennifer Spencer

If you are a CEO looking for Christmas gifts that will show your employees that you appreciate and acknowledge their hard work, you have come to the right place. This Christmas, spread the festive spirit with these 6 meaningful gifts that any CEO can give to their employees.

1. Bottle of Wine

You can’t go wrong with a bottle of refined wine! Wine that you can’t get in supermarkets or shops is the best type of wine to give to employees since they’ll know it’s special. A bottle of wine is perfect as a Christmas gift as it’s a way of telling them to relax and enjoy their festive celebrations. A bottle of mulled wine will surely boost festive spirits if you’re looking for a gift that’s Christmassy.

2. Company office essentials

What’s better than creating a sense of belonging than giving company branded office essentials? Office essentials could consist of items such as:

  • Pens and pencils
  • Pencil case or pen holder
  • Notebooks
  • Planners and diaries
  • Flasks, mugs, and water bottles

These essentials are useful and a great way to show your employees that you care about them and the contributions they make to the company.

3. Care package

The holiday season can be busy and hectic, which is why we recommend giving a care package to your employees as a Christmas gift. This could include:

  • Facemasks
  • Bath bombs or bath salts
  • Books
  • Mini alcohol bottles
  • Teabags
  • Snacks

A care package is a thoughtful gift to give to your employees at the end of the year, thanking them for their hard work for the past year and letting them know that their wellbeing is at the top of your priority list.

4. Coffee hamper

If you know that your employees power through the day on caffeine, it may be a good idea to give them a coffee hamper as a token of appreciation for their dedication to the company. In particular, providing a range of different types of coffees is a great addition to a coffee hamper such as organic, artisan, and flavoured. Include both coffee beans and ground coffee, maybe even a few syrup shots that can be added to the coffee.

5. Gift cards

One of the best things that you could give your employees this Christmas is employee rewards in the form of gift cards, vouchers, and points. Rewarding your employees for their work can help improve relationships between you and your employees, as well as foster a work environment where employees feel valued and motivated to work harder because of the incentive. Gift cards are excellent because they can be tailored to anyone’s preferences or personalities, thus, it’s also important to know a bit about your employees like their hobbies.

6. Desk plant

Indoor plants in offices do more than just add to the aesthetic of the office – they can help improve air quality, concentration, and relieve stress. As a result, giving employees a desk plant may help boost their morale and happiness, increasing productivity and empowering them to take responsibility for the livelihood of their desk plant. Individual desk plants may also help to cultivate relationships between employees themselves as they navigate through growing their plants together.

5 Common Mistakes Made by Inexperienced CEOs

Posted on | by Jennifer Spencer

Leadership is a huge undertaking in any walk of life, but perhaps nowhere more so than in business when success and failure can hinge almost entirely on your decision-making capacity. The fact you’ve been entrusted to run a company speaks volumes on your capabilities and skill set already, but a lack of experience in the CEO arena can inevitably lead to mistakes.

That is not to say that the possibility doesn’t exist that you take to the role like a duck to water, but experience is beneficial in any field. Even the best of us make mistakes too, but with knowledge of the 5 common mistakes here, the transition to chief executive officer can become a lot smoother for all concerned.

1. Don’t isolate yourself

The worst thing you can do is build yourself an ivory tower and let the success get to your head. Though of course it is lonely at the top, you are not alone. You have networks of friends and family in particular that will understand your newfound time constraints due to the additional work that comes with being the CEO of a company. This particular mistake concerns one’s mental health, which one could argue is the most important aspect to consider here.

2. Understanding the political shape of your organisation

According to  Umesh Ramakrishnan, Co-CEO of Kingsley Gate Partners, the best way to avoid being fired is to understand the political structures of a company. By no means does this mean getting absolutely everyone on board, but simply knowing the intricate details of a company’s structure can save you a lot of hassle when it comes to making those all important decisions.

3. There are no shortcuts

Contrary to what a lot of CEOs may believe, growth can occasionally be a gradual and painstaking process. Of course, there are exceptions, but a grave mistake that you can make is being unrealistic about you and your company’s overall ambitions. Take things step-by-step and think logically about previous successes – build on them. Equally, work on the errors. That said, there are ways through which you may be able to accelerate the growth of your company, such as through the Clear Start Programme – an OOH opportunity designed specifically for start-ups.

4. Find an hour a day to read

Knowledge is power as they say. The power of an excellent book can really change your perception on anything, whether that book is business related or a work of fiction. It may seem a challenge to find that time to read initially, but once you’ve settled into the role, spare yourself an hour to read something every day. Equally if you have other hobbies, spare that time doing something you enjoy. You’re a human not a machine after all.

5. Keep your colleagues close

You are only one mind, and that can be great when a final decision needs to be made and your team is deadlocked. But your business should be as democratic as possible, which perhaps means going in a direction you perhaps wouldn’t have chosen at certain times. That said, it’s important to strike the right balance between making decisions that are best for the company and going with the majority.