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Discover how personality assessments can improve operating efficiency and operational excellence by optimising team dynamics, leadership, recruitment, and conflict resolution strategies within organisations. How Personality Assessments Can Enhance Operational Efficiency and Drive Operational Excellence Leveraging Personality Insights to Boost Team Performance, Enhance Leadership, and Drive Sustainable Operational Success. In the pursuit of improved operational efficiency , organisations are constantly seeking ways to enhance business efficiency and overall performance. One often underutilised yet highly impactful tool is personality assessment. By delving into the traits, behaviours, and preferences of individuals within the organisation, personality assessments offer valuable insights that can drive substantial improvements in business efficiency and operational effectiveness. Here’s how leveraging these assessments can transform organisational practices and enhance efficiency across various dimensions. 1. Enhanced Team Dynamics for Greater Efficiency Personality assessments provide a detailed understanding of team members’ strengths, weaknesses, and interpersonal styles. This insight allows for the strategic formation of teams with complementary skills, ultimately leading to greater business efficiency. For instance, a team composed of analytical thinkers, creative problem-solvers, and meticulous executors can tackle challenges from diverse angles and develop more effective solutions. Aligning team roles with individual strengths not only minimises conflict but also enhances collaboration, significantly boosting overall productivity. When team members understand and appreciate each other's personality traits, communication improves, and collective goals are achieved more efficiently. This synergy directly contributes to increased business efficiency and operational success. 2. Optimising Recruitment and Selection for Operational Efficiency Recruiting the right talent is crucial for driving operational excellence and business efficiency. Personality assessments offer a data-driven approach to selecting candidates whose traits align with the role requirements and organisational culture. By evaluating traits such as adaptability, resilience, and teamwork, organisations can predict potential performance and fit within the team more accurately. This approach reduces turnover rates and ensures that new hires contribute positively to operational goals from the beginning. Essentially, personality assessments help build a more capable and cohesive workforce, which directly impacts business efficiency and overall organisational effectiveness. 3. Targeted Training and Development to Enhance Efficiency Understanding employees’ personality traits enables organisations to design tailored training and development programmes. For example, employees with high levels of conscientiousness may excel in detail-oriented tasks and require minimal supervision, while those with high openness may benefit from creative problem-solving training. By aligning development programmes with individual personality profiles, organisations can enhance learning experiences, improve skill acquisition, and foster personal growth. This targeted approach ensures that training investments yield maximum returns, thereby driving business efficiency and contributing to operational excellence. 4. Effective Conflict Resolution for Streamlined Operations Conflicts are an inevitable part of any organisation, but understanding the underlying personality traits of those involved can facilitate more effective resolution. Personality assessments can reveal the root causes of disagreements and provide strategies for addressing them based on individual differences. For instance, if a conflict arises from a clash between a detail-oriented personality and a big-picture thinker, the insights gained from personality assessments can help craft solutions that accommodate both perspectives. This personalised approach to conflict resolution allows organisations to address issues more efficiently and maintain a harmonious work environment, which is essential for sustained business efficiency. 5. Enhancing Customer Relations Through Efficient Service Personality assessments extend beyond internal operations to improve customer interactions. Understanding the personality types of key customer-facing employees can help tailor communication and service approaches to better meet client needs. For example, employees with high levels of extraversion may excel in engaging customers and building relationships, while those with strong analytical traits can address complex issues with precision. By aligning roles with personality strengths, organisations can enhance customer satisfaction and drive operational success through more efficient service delivery. 6. Strategic Change Management for Operational Efficiency Navigating change is a significant challenge for organisations striving for operational efficiency . Personality assessments can aid in managing transitions by identifying how different individuals react to change. Those with high adaptability may embrace new processes readily, while others may require additional support. By understanding these dynamics, organisations can tailor change management strategies to address the specific needs and concerns of different personality types. This approach ensures smoother transitions and reduces resistance, ultimately contributing to improved business efficiency and successful implementation of new initiatives. 7. Fostering Innovation for Competitive Efficiency Innovation is vital for maintaining a competitive edge and achieving operational excellence. Personality assessments can identify individuals with traits conducive to creative thinking and risk-taking, such as openness to experience. By leveraging these individuals, organisations can foster a culture of creativity and innovation. Encouraging collaboration among diverse personality profiles can lead to novel ideas and solutions, driving continuous improvement and enhancing overall business efficiency. Conclusion Incorporating personality assessments into organisational strategies offers a powerful advantage in achieving and sustaining operational excellence. By enhancing team dynamics, optimising recruitment, targeting training, resolving conflicts effectively, and improving customer relations, organisations can unlock new levels of efficiency and productivity. Moreover, personality assessments play a crucial role in strategic change management and fostering innovation, further solidifying their contribution to business efficiency. When utilised thoughtfully, personality assessments become a catalyst for creating a more effective and successful workplace, driving operational excellence and achieving unparalleled levels of business efficiency. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Discover Construction Operations: Project Estimating and Scheduling, a guide for residential and commercial developers, as well as lead contractors. Introduction The Blueprint for Success The Lifeline of Construction Optimising Inputs Navigating Uncertainties Delivering Excellence Leveraging Technology Conclusion In This Article Construction Project Management for efficient project delivery Introduction In the dynamic and complex world of construction, effective project management is the linchpin of successful operations. Whether you’re erecting a skyscraper, renovating a heritage building, or developing a new residential complex, the challenges are multifaceted and demanding. From managing tight budgets and deadlines to ensuring safety and compliance, construction project management requires a blend of meticulous planning, strategic foresight, and robust leadership. This comprehensive guide delves into the core aspects of effective construction project management, offering insights and strategies to help project managers navigate the intricate web of tasks, stakeholders, and risks. By mastering these key areas, construction professionals can lead their teams to deliver projects that are not only on time and within budget but also of the highest quality. The Foundations of Construction Project Management Construction project management is akin to conducting an orchestra, where each player, whether a contractor, engineer, architect, or labourer, must perform their part in harmony with the others. The complexity of this task is heightened by the need to balance various factors such as cost, time, quality, and safety. The foundations of effective construction project management can be broken down into five essential components: planning, communication, resource management, risk management, and quality control. 1. Planning: The Blueprint for Success Planning is the cornerstone of any successful construction project. Without a solid plan, a project is like a ship without a rudder—aimless and likely to run aground. Effective planning in construction involves defining the scope, establishing timelines, budgeting, and setting clear objectives. a. Defining the Project Scope The scope of the project outlines what needs to be done and sets the parameters within which the project will be executed. This includes everything from the design and specifications to the materials to be used and the standards to be met. A well-defined scope helps in preventing scope creep—where additional tasks are added to the project without proper evaluation or approval, often leading to delays and cost overruns. Steps for Defining the Project Scope: Project Requirements: Start by gathering all requirements from stakeholders, ensuring that all needs are identified and documented. Work Breakdown Structure (WBS): Develop a WBS that divides the project into smaller, manageable tasks, making it easier to assign responsibilities and track progress. Deliverables: Clearly define the deliverables expected at each stage of the project. This provides benchmarks for measuring progress and ensures that the project stays on track. b. Establishing a Realistic Timeline Time is a critical factor in construction, where delays can lead to increased costs and strained relationships with stakeholders. Establishing a realistic timeline involves not only setting deadlines but also identifying the sequence of tasks and understanding the dependencies between them. Key Considerations for Timeline Management: Critical Path Method (CPM): Use CPM to identify the sequence of crucial tasks that must be completed on time for the project to be finished by the deadline. This helps in prioritising activities and allocating resources effectively. Gantt Charts: Develop Gantt charts to visually represent the project schedule, allowing for easy tracking of progress and adjustments as needed. Milestones: Set clear milestones that mark significant points in the project. These serve as checkpoints to evaluate whether the project is on course. c. Budgeting and Cost Estimation Budgeting is another vital aspect of planning that determines the financial feasibility of the project. Accurate cost estimation requires a thorough understanding of all project components, including materials, labour, equipment, and contingencies. Strategies for Effective Budgeting: Detailed Cost Estimates: Break down costs into smaller categories to ensure that all aspects of the project are covered. This includes direct costs (labour, materials) and indirect costs (permits, overheads). Contingency Planning: Set aside a contingency fund to cover unexpected expenses. This helps in mitigating the impact of unforeseen events that could otherwise derail the project. Cost Control Mechanisms: Implement cost control mechanisms to monitor spending throughout the project. Regular financial reviews and audits can help in identifying and addressing potential issues early on. 2. Communication: The Lifeline of Construction Projects In the fast-paced environment of construction, effective communication is paramount. Miscommunication can lead to costly errors, rework, and delays. Ensuring that all stakeholders are well-informed and aligned with the project’s goals is essential for smooth operations. a. Establishing Clear Communication Channels Clear and open communication channels facilitate the flow of information between all parties involved in the project. Whether it’s between the project manager and the site crew or the contractors and the client, ensuring that everyone is on the same page is crucial. Methods for Enhancing Communication: Communication Plan: Develop a communication plan that outlines who needs to be informed, when, and how. This plan should cover regular updates, reporting protocols, and emergency communication procedures. Regular Meetings: Schedule regular meetings to discuss progress, address concerns, and plan for the upcoming phases of the project. These meetings should be documented, with action items clearly assigned and followed up on. Use of Technology: Leverage technology such as project management software, instant messaging apps, and video conferencing tools to facilitate real-time communication, especially for large or dispersed teams. b. Documentation and Reporting Documentation is a critical component of construction project management, serving as a record of decisions, changes, and approvals. Proper documentation helps in tracking the project’s progress and provides a reference point for resolving disputes. Best Practices for Documentation: Detailed Records: Maintain detailed records of all communications, contracts, change orders, and approvals. This ensures that there is a clear trail of decisions made and actions taken. Real-Time Reporting: Implement a system for real-time reporting of project status, including progress against milestones, budget tracking, and risk assessment. This allows for timely interventions if issues arise. Stakeholder Reporting: Regularly update stakeholders on the project’s progress, ensuring transparency and trust. Tailor reports to the needs of different stakeholders, focusing on what is most relevant to them. 3. Resource Management: Optimising Inputs for Maximum Output Resource management in construction involves the effective allocation and utilisation of resources such as materials, labour, and equipment. Efficient resource management not only helps in keeping the project on schedule but also plays a significant role in cost control. a. Labour Management The workforce is the most valuable resource in a construction project. Effective labour management ensures that the right skills are available when needed and that workers are utilised efficiently. Key Aspects of Labour Management: Skill Matching: Assign tasks based on workers’ skills and experience to ensure high-quality output and minimise errors. Scheduling: Develop a work schedule that optimises the use of labour, avoiding both idle time and overtime, which can lead to burnout and increased costs. Training and Development: Invest in training programs to enhance workers’ skills, improve productivity, and ensure compliance with safety regulations. b. Material Management Materials account for a significant portion of a construction project’s budget. Effective material management ensures that the right materials are available when needed, without overstocking or wastage. Strategies for Material Management: Just-In-Time (JIT) Delivery: Implement JIT delivery to minimise storage costs and reduce the risk of material damage or theft. This requires close coordination with suppliers and accurate demand forecasting. Inventory Control: Use inventory control systems to track material usage and reorder levels. This helps in avoiding shortages and ensures that materials are used efficiently. Waste Minimisation: Implement strategies to minimise waste, such as recycling materials and using off-cuts. This not only reduces costs but also supports sustainability initiatives. c. Equipment Management Construction projects often involve the use of specialised equipment, which must be managed effectively to avoid delays and cost overruns. Tips for Equipment Management: Maintenance Scheduling: Regular maintenance is essential to keep equipment in good working order and prevent breakdowns. Develop a maintenance schedule based on manufacturers’ recommendations and usage patterns. Utilisation Tracking: Track equipment utilisation to ensure that it is being used efficiently. Underutilised equipment represents wasted resources, while overused equipment is prone to breakdowns. Rent vs Buy Decision: Assess whether it’s more cost-effective to rent or purchase equipment based on the project’s duration and the equipment’s frequency of use. Renting can be more economical for short-term needs, while purchasing may be better for long-term use. 4. Risk Management: Navigating the Uncertainties Risk is an inherent part of construction projects. Whether it’s a sudden change in weather, unexpected site conditions, or supply chain disruptions, these risks can impact the project’s timeline, cost, and quality. Effective risk management involves identifying potential risks early and developing strategies to mitigate them. a. Risk Identification and Assessment The first step in risk management is identifying the risks that could affect the project. This requires a thorough understanding of the project’s environment, stakeholders, and processes. Approaches to Risk Identification: Risk Workshops: Conduct risk workshops with key stakeholders to brainstorm potential risks. This collaborative approach ensures that all perspectives are considered. SWOT Analysis: Use SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify internal and external risks that could impact the project. Historical Data: Review historical data from previous projects to identify common risks and their potential impact. b. Risk Mitigation Strategies Once risks have been identified, the next step is to develop strategies to mitigate them. This involves planning for how to avoid the risk or minimise its impact if it occurs. Examples of Risk Mitigation Strategies: Contingency Planning: Develop contingency plans for high-risk areas, such as having backup suppliers or alternative work methods. This ensures that the project can continue even if an issue arises. Contractual Protections: Include clauses in contracts that allocate risks appropriately between parties. For example, a force majeure clause can protect against unforeseen events such as natural disasters. Insurance: Ensure that adequate insurance coverage is in place to protect against financial losses due to risks such as accidents, theft, or delays. c. Continuous Risk Monitoring and Review Risk management is not a one-time activity but an ongoing process that continues throughout the project’s lifecycle. Regularly reviewing and updating the risk management plan ensures that it remains relevant as the project progresses. Best Practices for Risk Monitoring: Risk Registers: Maintain a risk register that documents all identified risks, their potential impact, and the mitigation strategies in place. Update this register regularly to reflect changes in the project environment. Regular Reviews: Schedule regular risk reviews as part of project meetings. This allows for the early identification of new risks and the reassessment of existing ones. Proactive Response: Encourage a proactive approach to risk management, where team members are empowered to raise concerns and suggest solutions before issues escalate. 5. Quality Control: Delivering Excellence Quality is the ultimate measure of success in construction. A project that is completed on time and within budget but fails to meet quality standards is, in essence, a failure. Effective quality control ensures that the project meets or exceeds the required standards, resulting in a final product that is safe, functional, and durable. a. Setting Quality Standards Quality standards should be clearly defined at the outset of the project, based on industry best practices, regulatory requirements, and client expectations. Components of Quality Standards: Design Specifications: Ensure that the design specifications are comprehensive and detailed, leaving no room for ambiguity. Material Standards: Specify the quality of materials to be used, including grades, types, and sources. This helps in avoiding the use of substandard materials that could compromise the project. Workmanship: Set standards for workmanship that define the level of detail and precision required. This ensures that the construction is not only functional but also aesthetically pleasing. b. Implementing Quality Control Measures Quality control measures should be integrated into every stage of the project, from design to completion. This involves regular inspections, testing, and verification to ensure that the work meets the specified standards. Quality Control Techniques: Inspections: Conduct regular inspections at key stages of the project, such as after foundation work, framing, and final finishes. Inspections should be carried out by qualified personnel to ensure that any issues are identified and corrected promptly. Testing: Implement testing procedures for materials and construction methods to verify their compliance with quality standards. For example, concrete strength tests can ensure that the foundation will support the structure. Non-Conformance Management: Develop a system for managing non-conformances, where any deviation from the quality standards is documented, investigated, and corrected. This helps in preventing minor issues from escalating into major problems. c. Continuous Improvement Quality control should not be viewed as a one-time task but as an ongoing process of continuous improvement. By regularly reviewing and refining quality control procedures, construction managers can ensure that their projects consistently meet high standards. Strategies for Continuous Improvement: Feedback Loops: Establish feedback loops where lessons learned from each project are documented and used to improve future projects. This could involve post-project reviews or regular team debriefs. Training and Development: Invest in ongoing training and development for all team members to keep them updated on the latest quality control techniques and standards. Benchmarking: Compare the project’s quality performance against industry benchmarks to identify areas for improvement and set higher standards for future projects. 6. Leveraging Technology for Enhanced Project Management In today’s digital age, technology plays a pivotal role in enhancing construction project management. From project management software to advanced construction techniques, leveraging technology can lead to significant improvements in efficiency, accuracy, and collaboration. 7. Project Management Software Project management software has become an indispensable tool for construction managers, offering features that streamline processes, improve communication, and provide real-time insights into project progress. Benefits of Project Management Software: Centralised Information: Project management software provides a centralised platform where all project-related information is stored and accessible to authorised users. This improves transparency and ensures that everyone is working with the same data. Real-Time Updates: With real-time updates, project managers can monitor progress, track changes, and make informed decisions quickly. This is particularly useful for large projects with multiple stakeholders. Collaboration Tools: Many project management platforms include collaboration tools that allow team members to communicate, share documents, and work together more effectively, regardless of their location. 8. Project Estimating Software Project estimating software has become an essential tool for construction managers, providing features that enhance accuracy, streamline budgeting, and improve decision-making throughout the project's lifecycle. Benefits of Project Estimating Software: Accurate Cost Estimation: Project estimating software allows construction managers to create precise cost estimates by factoring in materials, labor, equipment, and other project-specific variables. This reduces the risk of budget overruns and ensures that all financial aspects are carefully planned. Time Efficiency: With automated calculations and data integration, project estimating software significantly reduces the time required to generate detailed estimates. This allows managers to focus on other critical tasks, improving overall project efficiency. Integrated Data: Project estimating software often integrates with other project management tools, ensuring that estimates are based on the most current data. This integration promotes consistency across project phases and helps in maintaining alignment between the budget and actual expenses. Scenario Analysis: Many project estimating platforms offer scenario analysis features, enabling managers to explore different project outcomes based on varying cost or resource assumptions. This supports better decision-making and risk management. Improved Collaboration: By providing a centralised platform for estimates, project estimating software facilitates collaboration between team members, subcontractors, and clients, ensuring that everyone has a clear understanding of the project's financial scope. 9. Building Information Modelling (BIM) Building Information Modelling (BIM ) is a digital representation of the physical and functional characteristics of a facility. It provides a comprehensive model that can be used throughout the lifecycle of a project, from design to construction and even maintenance. Advantages of BIM: Enhanced Collaboration: BIM facilitates collaboration between all stakeholders, including architects, engineers, and contractors, by providing a shared model that everyone can access and contribute to. Clash Detection: BIM allows for the detection of potential clashes or conflicts in the design phase, such as structural components interfering with plumbing or electrical systems. This helps in resolving issues before construction begins, saving time and costs. Lifecycle Management: BIM can be used beyond the construction phase, providing valuable information for the operation and maintenance of the facility. This makes it a powerful tool for asset management. 10. Drones and Wearable Technology Drones and wearable technology are increasingly being used in construction to enhance safety, efficiency, and accuracy. These technologies provide new ways to monitor progress, inspect sites, and ensure the well-being of workers. Applications of Drones: Site Surveys: Drones can be used for site surveys, providing high-resolution images and topographical data that are essential for planning and design. Progress Monitoring: Drones can capture aerial images and videos of the construction site, allowing project managers to monitor progress from a different perspective and identify potential issues early on. Safety Inspections: Drones can access hard-to-reach areas, such as rooftops or tall structures, making them ideal for safety inspections without putting workers at risk. Wearable Technology: Health Monitoring: Wearables such as smart helmets or vests can monitor workers’ health in real-time, alerting them to potential hazards such as overheating or exposure to harmful substances. Location Tracking: Wearables can also track the location of workers on the site, helping in ensuring that they are safe and in the right place at the right time. Conclusion: Mastering Construction Project Management Effective construction project management is a multifaceted discipline that requires a deep understanding of the various components involved, from planning and communication to resource management, risk management, and quality control. By mastering these areas, construction professionals can navigate the complexities of their projects with confidence, delivering results that are on time, within budget, and of the highest quality. In an industry that is constantly evolving, staying ahead of the curve by leveraging the latest technologies and best practices is crucial. Whether it’s using project management software to streamline operations, adopting BIM for better collaboration, or utilising drones and wearables to enhance safety, embracing innovation can make a significant difference in the success of a project. Ultimately, effective construction project management is about more than just completing tasks; it’s about delivering value, building trust, and creating structures that stand the test of time. By focusing on continuous improvement and always striving for excellence, construction managers can ensure that their projects not only meet but exceed expectations. The Blueprint for Success The Lifeline of Construction Optimising Inputs Navigating Uncertainties Delivering Excellence Leveraging Technology Conclusion

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Emotional intelligence is built on self-awareness, which enables people to recognise and comprehend their emotions and how they affect their actions, mood, 12 Ways To Improve Emotional Intelligence Do you have the capacity to identify, comprehend, and control your emotions and recognise those of others around you? Published on: 10 Oct 2024 A leader in a organisation who uses emotional intelligence to unite people to confront an environmental crisis illustrates how emotional intelligence can help build a better planet, enhance people’s lives, and protect the world’s future. This leader can comprehend and relate to the worries of various community members. The person clearly conveys the significance of the problem and motivates cooperation and action among the group. The outcome is a successful community-wide initiative to address the environmental issue, enhancing residents’ quality of life and advancing the worldwide objective of safeguarding the environment. Effective communication and collaboration amongst all stakeholders are one of the main tenets of stakeholder capitalism, and emotional intelligence is crucial for attaining this. A leader with high emotional intelligence can establish trust and solid connections and empathize with many stakeholders’ problems. Later, he clearly explains the company’s vision and goals. As a result, talks and decision-making can be more fruitful and collaborative, which improves the situation for all parties involved. In addition, emotional intelligence is crucial for solving ESG (Environmental, Social, and Governance) and SDG (Sustainable Development Goals) challenges. Leaders may make more deliberate and effective decisions that put the needs of all stakeholders, including the environment and future generations, ahead of just short-term profit by recognising and controlling their emotions. Emotional intelligence is crucial for advancing stakeholder capitalism because it fosters collaboration, trust, and effective communication among stakeholders, promoting sustainable growth and ethical business practices. Elements Of Emotional Intelligence Self-Awareness Emotional intelligence is built on self-awareness, which enables people to recognise and comprehend their emotions and how they affect their actions, mood, performance, and interactions with others. Self-awareness allows people to control their emotions and behaviours, improving decision-making, relationships, communication, confidence, and creativity. Organisational psychologist Tasha Eurich asserts that those who are self-aware typically experience more success in their personal and professional lives. So, becoming more self-aware is essential for both personal and professional growth. Self-Regulation When a person is self-aware, they can start to control their impulses and emotions through self-regulation, which is the capacity to do so. This results in improved judgment, more solid bonds, efficient communication, an optimistic outlook, and flexibility in dealing with diverse circumstances. Conversely, persons who lack self-control frequently cause a domino effect of unfavourable emotions in others, resulting in a high turnover rate. Social Awareness Social awareness is the capacity to comprehend and relate to the feelings, requirements, and viewpoints of others. This involves recognising social cues, interpreting body language, and being conscious of group dynamics. A business manager who is conscious of their staff’s various viewpoints and feelings and can foster a supportive and inclusive work environment for everybody would illustrate social awareness. They can interact successfully with each employee since they know their needs. As a result, employee motivation, contentment, and productivity all increase. Additionally, they can foresee possible disputes and take proactive measures to resolve them, strengthening team dynamics and productivity. Social Skills The capacity to steer conversations, negotiate, and settle disputes fairly and sympathetically is a component of social skills. A business CEO who can effectively communicate the company’s vision and goals to all stakeholders, including shareholders, employees, customers, suppliers, and the community, would be a real-world example of social skills. The CEO can improve decision-making, collaboration, and cooperation, as well as the overall success and sustainability of the firm. To advance stakeholder capitalism, the CEO must also be able to resolve disputes and deal with various stakeholders in a way that benefits all parties. 12 Ways To Improve Your Emotional Intelligence Make A Journal To Increase Self-Awareness Your emotional intelligence can be considerably enhanced by being conscious of your feelings and how you emotionally react to people around you. Understanding when you are nervous or furious might help you communicate those sentiments in a way that encourages positive outcomes. Consider your meetings, projects, and interactions from the day’s activities, both good and bad. You can identify specific patterns in your behaviour and responses, as well as those of others, by writing down your thoughts. What was your greatest success? How do your staff members feel? Do you ever get frustrated with particular persons or circumstances? If so, why? The better, the more reflective you are. For instance, you’ll become more conscious of what irritates you to prevent a future tantrum or imitate behaviours that have been shown to increase staff morale. Detect The Emotions Of Others While self-reflection is a good place to start when developing emotional intelligence, it’s equally crucial to consider how others will interpret your actions and words. Being emotionally savvy includes knowing how to modify your message based on appearance. To demonstrate that you value other people’s feelings, you can always ask them how they feel if you are unclear. Employ Active Listening Skills People communicate verbally and nonverbally. Therefore, paying attention to both verbal and nonverbal cues and potential positive and negative replies is crucial. The foundation for wholesome relationships can be laid by showing others respect by taking the time to listen to them. Try asking questions, nodding in agreement, or repeating key ideas to demonstrate that you have grasped them to demonstrate that you are paying attention. Express Yourself Clearly For emotional intelligence, effective communication abilities are crucial. Building healthy connections requires understanding when to communicate information in writing or verbally. To keep everyone on the same page, a manager in a work environment must communicate expectations and goals. Be as open to communication as possible, and provide several avenues for others to express their emotions to you. Stay Optimistic People with emotional intelligence are aware of the impact a kind word, an encouraging email, or a thoughtful action may have. When you can maintain your composure when dealing with a stressful circumstance, you can support those around you. Additionally, this mindset can promote additional teamwork and problem-solving. While experiencing negative emotions is common, you should consider ways to lessen their impact and search for answers. Empathise Emotional intelligence includes the ability to consider others’ feelings. It denotes your capacity to understand emotions you may not be experiencing personally and to react in a way that is courteous and consoling to others. Try to put yourself in other people’s shoes so that you may think about how you might feel if you were in them. Keep An Open Mind Because they are terrific listeners and can take into account and understand alternative viewpoints, emotionally intelligent people are frequently simple to approach. They are also receptive to new information and concepts. Even if you’re unsure of a novel idea or concept, attempt to imagine how you might incorporate it into your job. Adhere To Feedback It is crucial to possess the ability to hear criticism, whether praise for a recent presentation or harsher suggestions for how to assign duties more effectively. Being receptive to criticism demonstrates your capacity for accountability and willingness to enhance your interpersonal communication skills. Even if some critique could be difficult to hear, you should attempt to see it as an opportunity to develop professionally. Under Pressure, Maintain Composure It’s crucial to have the ability to tackle challenging circumstances with calm and optimism. Maintaining composure and concentrating on finding a solution will help everyone achieve their objectives. Tensions can easily rise, especially when people are pressed for time. Develop coping mechanisms to help you remain composed and deliberate in difficult situations, such as taking a deep breath or asking for assistance. Conduct A 360-Degree Evaluation Using feedback from various sources, a 360-degree assessment is a procedure that aids people in developing their emotional intelligence. A self-evaluation and a series of inquiries or surveys from superiors, colleagues, subordinates, and consumers or clients are frequently included in the assessment. The information is then collated and examined to provide a comprehensive assessment of the person’s emotional intelligence, which considers their self-awareness, self-regulation, motivation, empathy, and social skills. This information can be utilised to pinpoint areas that need improvement and create a career and personal growth strategy. Additionally, managers and leaders can utilise the 360-degree exam to pinpoint team-wide improvement opportunities. This creates plans for raising emotional intelligence levels. It contributes to a thorough grasp of emotional intelligence and the areas that need improvement. Be Aware of Your Emotions It would help if you first comprehended your feelings to comprehend those of others. Make a deliberate effort to think about your emotions whenever you notice a particularly powerful emotion, whether pleasant or bad. Think for a moment about the reasons behind your feelings and what might have caused such a powerful emotional reaction. You’ll learn to recognise your own emotions and those of your coworkers. You’ll be able to develop a productive team by being an empathic leader. Enroll In An Online Training Or Course By giving a summary of the main ideas and theories, as well as tips and tactics for fostering self-awareness, self-regulation, motivation, empathy, and social skills, online courses and training on emotional intelligence can assist people in growing their emotional intelligence. These programs can teach people how to effectively control their emotions and comprehend those of others, which can improve their relationships and communication. Assessments and interactive exercises may also be used in training to reinforce concepts and track advancement. The ability to make better decisions, build stronger relationships, communicate effectively, and perform better can benefit from completing an online course or receiving training in emotional intelligence. Conclusion People need emotional intelligence since it can enhance their personal and professional lives and improve the world. People can become better suited to managing life’s complexities and effect positive change by increasing their emotional intelligence. A more peaceful community may result from increased empathy, better communication, and deeper understanding that can be fostered by emotional intelligence. Everyone should consider developing their emotional intelligence since doing so will enhance their personal lives and contribute to a better future for all of us. 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The Role of the Chief Happiness Officer sees that the work we do truly engages us and makes us feel alive every day we do it. The Role of the Chief Happiness Officer Before we discuss the role of the Chief Happiness Officer (CHO), we should ask why the role is needed. Being happier can help to improve all areas of our lives, including at work, at home and with friends and socialising. Published on: 9 Mar 2023 Before we discuss the role of the Chief Happiness Officer (CHO), we should ask why the role is needed. Being happier can help to improve all areas of our lives, including at work, at home and with friends and socialising. Companies and governments both recognise the benefits of being happier, too. There’s even a World Happiness Report that measures happiness across 150 countries. Attitudes toward happiness are changing. Not fast, but inexorably towards a world where we can talk about it as a serious business benefit. Noting the shift in attitudes, the happiness report says that over the last decade policymakers around the world are seeing the public mood on happiness as an important objective of public policy. GDP is not a good measure of progress One way of measuring a country’s progress and success is by reference to its gross domestic product (GDP), which is basically the monetary value of everything it makes (goods and services). But that’s no longer acceptable. The World Happiness Report found that in the last 10 years, the focus on income and GDP has waned, with words like GDP appearing less often than the word happiness . Other measures are coming to the fore. As the Harvard Business Review (HBR) says, GDP wasn’t designed to assess the welfare or wellbeing of citizens . The mistake by policymakers, according to the HBR, is to treat GDP as all-encompassing. Economic prosperity measured on GDP alone allows no scope for the effects (positive and negative) on people. In fact, economic growth does not guarantee an increase in happiness at all. Even if you only associate happiness with having money, the Institute for Management Development points out that GDP ignores the relationship between economic growth and income inequality . The benefits of being happy So, the role of a CHO would seem to be a very important position indeed. The CHO is responsible for ensuring all of the multiple benefits of being happy are delivered in the workplace – and wider. There’s no shortage of academic research on the benefits of being happy . The general benefits of being happy include: Improved health Combat stress Stronger immune system Healthier lifestyle Reduced aches and pains Live longer And at work: Improved decision making Increased creativity Improved personal and professional productivity Increased customer satisfaction Higher earnings It may seem obvious to say that happiness and good health go hand in hand but it’s a life lesson many of us ignore. Ironically, we’d probably claim we’re too busy, stressed or ‘under the weather’ to find the time to sort out our happiness level. In the workplace, greater happiness equates to more successful businesses . There’s a direct link between the two. It’s no surprise that so many organisations now focus on wellbeing, mental health, inclusivity. They are taking a long, hard look at their business culture and questioning whether it is fit for purpose. What is happiness? Happiness can be defined in many different ways but how we look at it here is when a person is in a state of ‘flow’ – they are so immersed in their work and the world that they feel as one with it. Think of it like the way athletes go ‘into the zone’ in preparing to excel. It’s a well-studied mental state that helps us understand how we can reach our happiness zone . We can identify the many signs and types of happiness to take us in the right direction. Happiness and having money are often lumped together. But most people today would recognise that more money doesn’t always make you happier. Yes, you need enough to love well, but more won’t necessarily make you much happier. Happiness in a Regenerative, Ethical, Mindful (REM) world is when individuals feel that their work and life contribute towards not just a better life for themselves but their company and peers, family, community, society and planet. When you feel so connected, you can achieve high levels of self-esteem, self-respect and respect for others. It’s best to see happiness as a journey, something to aspire to be. When you do this, when you make it the goal itself, you’ll always be focusing on being happier, rather than only experiencing happiness in the moment. Maslow and happiness Abraham Maslow famously created the Hierarchy of Needs . To start, we need to feel safe, secure and needed, that we belong and have good connections with people. Maslow’s final two stages – self-esteem and self-actualisation – are where work comes to play an important part. These are stages where we realise the potential of our passions and skills. Where these passions and skills combine to create value for others. This helps to move us into a state of happiness and a state of flow, too. What makes for a good CHO? You need to be both a people person but also a big picture person; to see the implications for improved happiness to your business and wider society. Take a look at some of today’s mega-businesses – like Amazon, Google, Airbnb and SAP – and you’ll find they all have a CHO . While such an appointment is an altruistic move, there is clearly sound business logic for the role in terms of increased productivity, employee engagement and efficiency, Law firm Allsop’s CHO sees her role as being a ‘people person’ who is a conduit for communications from the top down and responsible for developing its culture. Human Resources and employee engagement specialist Hppy’s CHO sees their role as giving colleagues a voice, offering them freedom and supporting their growth. What does a CHO do? Most companies perhaps focus too much on Friday pizzas, away days and free medical and health care in their efforts to boost employee happiness. But they are missing the point. These actions, while probably appreciated, won’t necessarily make people happier. Valued, yes, but real happiness is found in the work we do. Happiness comes when the work we do truly engages us and makes us feel alive every day we do it. This is realising self-esteem actualisation. Pizzas, on the other hand, belong more to the ‘love and longing’ level in Maslow’s Hierarchy of Needs. A CHO should: Provide feedback to their board on employee engagement and motivation issues Create programmes that increase employee satisfaction Create awareness around human-related issues of communication, motivation and leadership Devise and run workshops to improve personal and professional productivity Ensure employees’ opinions and voices are heard Ensure company values are known, understood and are a central part of each employee’s own belief system and values See that staff have the right traits and skills for the work they are doing and provide both business and social skills development where needed Check that staff aren’t overwhelmed and merely ‘fire-fighting’ problems and issues every day as this can become demotivating Ensure there is a good positive culture that boosts personal, professional and business productivity Online workspace management company Yarooms points out that the growing importance of the CHO is a sign of the times we live in . The post-Covid world of hybrid working and an emphasis on getting our work/life balance right give the role huge relevance for businesses trying to map their way to a successful future. It’s time for every business and employee to get happy. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Here are 15 ideas for a high impact leadership development programme. First and foremost, leadership is a state of mind. 15 High Impact Leadership Development Programme Ideas Fit for a 21st Century Business. Now, more than ever in an increasingly uncertain world, businesses need leaders with all the right attributes to take them forward. Published on: 8 Dec 2022 Now, more than ever in an increasingly uncertain world, businesses need high impact leaders with all the right attributes to take them forward. What does it take to be a truly great business leader? First and foremost, leadership is a state of mind. Nowadays, the most effective business leadership behaviours are centred on skills like emotional awareness, empathy and integrity. Softly does it These are ‘soft skills’. They are the core leadership behaviours that underpin business success . They improve human relations and staff engagement, among other benefits. And that means they are crucial in any leadership development programme. Leadership development specialist StratXExl’s transformative leadership report observes: “To be successful in the next three years, leaders will increasingly need to master competencies in engagement, collaboration, trust, and transparency .” These types of leadership qualities also highlight the limitations of traditional authoritative leadership – where one person assumes total control and rules alone, often with insufficient checks and balances to curb their excesses or poor decision making. Skills that improve profitability We are seeing a generational shift away from the authoritative leadership style. A dominant leader may enable faster decision-making and remove multiple management layers, but it’s a high price to pay if it results in poor employee motivation, low morale and lower productivity. This blog looks at the new leadership skills needed in the 21st century. By using ‘softer’ people-focused skills, leaders can increase personal, professional and business productivity. You could improve profitability by 30% in just six months with leadership that is regenerative, ethical and mindful. Here are 15 core essentials of an effective business leadership development programme . Many overlap and combine to help mould leaders who employees should be happy to follow: 1. Lead by example A good leader sets an example by valuing their people, listening to their input and acting on it. They are adept at solving people-related problems. As a leader they don’t take an authoritative approach that says their way is the only way. Nor do they undermine colleagues by stepping in where they aren’t required or interfering unnecessarily in established processes – this can cause confusion about, and resentment in, their leadership style. Leading by example means delivering on what you promise – walking the walk as well as talking the talk. Great leaders roll up their sleeves. They gain important life experiences by getting involved at a practical level across their organisations, going outside their comfort zone, to understand their business from different angles. Leading by example means learning from their mistakes, so they constantly improve their leadership skills. That also means taking ownership and responsibility for your actions. The example they set is to lead with confidence and humility, not arrogance and complacency. 2. Lead with imagination and creativity Kantar’s Insights 2030 reports says imagination is a core competency for success , noting that “future success will require that business leaders significantly dial up their competency in, and commitment to, imagination”. # Social and economic upheaval has resulted in savvy leaders re-examining the skills required to make an impact. The Covid-19 pandemic is a good example that forced leaders to think creatively to solve an array of unforeseen problems. You’ll probably find that the common denominator of businesses that survived and emerged stronger is that their leaders have imagination. 3. Lead by making the right decisions Getting the big – and little – decisions right has a direct impact on profits and productivity. Poor decision-making can be costly. Managers at Fortune 500 companies waste half a million days a year on ineffective decision making , according to a McKinsey & Co survey. That adds up to the equivalent of £250 million in wages annually. Tough times and complex situations make it harder – but more important – to make the right decisions. Insight Assessment, a specialist in critical thinking assessments, recommends these essential decision-making skills : identify critical factors that could impact the outcome of your decision; evaluate your options, anticipate the outcomes; take account of uncertainties and unknown risks; analyse all available data to aid your decision making. 4. Lead with integrity US President Dwight Eisenhower highlighted the importance of this characteristic: “The supreme quality for leadership is unquestionably integrity. Without it, no real success is possible, whether it is on a section gang, a football field, in an army, or in an office.” Integrity in business leadership can be hard one pin down, but it shouldn’t be. A leader with integrity should stand out. They do the right thing because it is the right thing to do; they accept the truth and are prepared to adjust their thinking accordingly. Good leaders don’t compromise their integrity, for example, for the sake of expediency or to make short-term business gains. Integrity in business leaders also ties in with Environmental, Social and Governance (ESG) principles. After all, a strong corporate governance is set by those at the top. Three strategies to show integrity suggested by CEO coaching organisation Vistage are to think about the other side of the argument before taking a stand; be clear in your commitments – avoiding generalisations and jargon; and be sincere and clear about what you say ‘no’ to – it also helps employees if they understand what your business ‘is not’. 5. Lead with enthusiasm It sounds obvious, but enthusiasm is infectious. Ask yourself how you responded to a good leader and you’ll probably say that their positivity rubbed off on everyone in the room. But enthusiasm alone doesn’t make a good leader. It’s only part of the package, although it is a very important element. Underpinning this spirit of optimism should be passion for the business and the clear vision about its direction and path to success. A display of enthusiasm shows employees that they have your total buy-in. They can see your personal commitment to the business. This motivates and inspires people to follow you. A high and consistent level of enthusiasm helps carry businesses through difficult periods to achieve long-term goals. 6. Work hard Another fairly obvious one, but there is no substitute for hard work. A strong leader knows the payback is worth the effort: the more you put in, the more you get out. Hard work by leaders has to be productive in ways that benefit everyone: managing teams, motivating employees, communicating effectively, articulating business goals and objectives, dealing with a crisis, spotting new opportunities. That takes a lot of effort, especially when it is being undertaken with unabashed enthusiasm. Another thing you notice in good leaders is that they tend to have a knack for making their hard work appear relatively effortless. It’s an attitude that also percolates into the whole work/life balance and wellbeing debate. Good leaders are able to maintain both a high work rate as well as their wellbeing. We are increasingly seeing senior executives opening up to employees about their personal challenges as part of the corporate approach to wellbeing. There’s an honesty that employees appreciate when leaders share their personal stories. Being honest in this way says that it is okay to admit to pressure and uncertainty. But as a leader, it is equally important to demonstrate how you are able to deal with the pressure of hard work. 7. Be commercially aware Good business leaders can spot the next big opportunity without taking their eye off the business-as-usual ball. They have many fingers on many pulses. That way, their organisation is always in the right place at the right moment to succeed. Good leaders know the right time to enter or exit markets. They look for solutions to problems – often before competitors even realise there is a problem that needs solving. Commercial awareness embraces knowledge of the latest market and economic trends, what your customers are doing, supply chain developments and legislative changes. 8. Be analytical In the post-Covid business world, digital is king. From tech-savvy customers preferring online activity to employees working remotely. Coupled with these changing relationship dynamics, businesses are generating vast amounts of data daily. But many organisations are behind the curve in exploiting the enormous power of data to improve their productivity and profitability. Data-driven leadership is still only an aspiration for many organisations: a recent Harvard Business Review survey found that barely one quarter of organisations said they were data driven . Often, it is not the technology that lags behind but the people. Leaders need to embrace data-driven analytics and understand where to target technology investment. Otherwise, leaders become part of the problem, a barrier to progress, rather than an enabler of change. Leaders also need to focus on the ethical and legal aspects of data management, as well as the threats posed by cybersecurity. A strong analytical focus has to be driven by leadership at the top of an organisation. Put another way, lead with change, or change leaders . 9. Be self-aware Business leaders who recognise what soft skills they need will develop a better understanding of how to lead with humility. Having self-awareness is part of this approach. With self-awareness, you can avoid arrogance, a sense of invulnerability and complacency that have been the downfall of many businesses. With greater self-awareness, leaders understand how their thoughts and actions might impact their colleagues. They are honest about their own abilities and recognise their shortcomings. Self-aware leaders are not afraid of honest feedback. They can see how others react to them and are ready to ask colleagues for feedback. Leaders who are self-aware know they have to change and keep changing for the long-term good of their business. Among the qualities that good leaders exhibit are these eight characteristics of self-awareness : reflective, observant, empathetic, perceptive, responsive, self-controlled, discerning and adaptable. 10. Be resilient A resilient leader maintains high energy levels, especially in tough times. They take the knocks and get back up again. Their resilience is physical, mental and emotional. They also know how to handle stress by using it positively to get the best out of themselves and others, without succumbing to its negative pull. Regular exercise builds stamina and resilience. You’ll find leaders are often first in the gym early in the morning before the working day starts. Or jogging the streets around the hotel where their latest meeting has taken them. Getting enough of the right type of sleep is important, and mindfulness – along with self-awareness – also contribute to resilience. Resilient leaders build strong business and social networks. This helps them deal with difficult challenges by sharing ideas to find the best solution. 11. Communicate, communicate, communicate Good leaders communicate effectively at the right time so they inspire, empower and educate people. It’s another type of soft skill that can be learned with the right training – remember, not all great leaders are born communicators. Through their personal style of communication, leaders drive employee loyalty and trust. They demonstrate honesty and transparency, for example, by sharing both good and bad news. Leaders don’t just communicate in one direction. Two-way dialogues allow employees’ voices to be heard. So, as well as being communicators leaders also have to be listeners: showing empathy and understanding. Effective communication requires a high degree of flexibility in. Leaders instinctively know the best way to deliver their message – which medium to use, the frequency and the type of language. It’s a knack that ensures the same message can be received by the widest group of people. There is no shortage of great communicators throughout history . Good business leaders choose the techniques that best suit their personal style and subject matter. 12. Serve your team It’s an interesting question for a leader: exactly how much should you lead and how much should you follow? The concept of the servant-leader was first coined by Robert Greenleaf in the 1970s. It is a natural feeling that you want to serve, which is then followed by a conscious choice that you want to aspire to lead. Think of the adage ‘do unto others as you would like others to do unto you’. For business leaders, it means prioritising the wellbeing of your workforce and the communities you service. Successful companies have leaders who share power, put others first and help everyone in their organisation to develop and to perform to the best of their abilities. Greenleaf’s approach, which led him to establish the Servant leadership movement, fits in well with the requirements of today’s business leaders to have empathy and integrity, to be ethical and mindful. 13. Focus on sustainability In a business world increasingly dominated by ESG and CSR (corporate social responsibility), leaders must be attuned to a broad range of sustainability issues. Being more sustainable is good for business. What’s more, a well-articulated commitment to measurable sustainability actions is nowadays expected by employees, customers and other stakeholders. The arguments for being more sustainable are well established. As are the perils of not doing enough: at the COP27 climate change conference in Egypt in November 2002, the United Nations’ Secretary General Antonio Guterres gave a stark warning: “We are on a highway to climate hell with our foot on the accelerator .” Leaders who focus on sustainability can: • Improve brand reputation • Increase demand for their products and services • Enhance staff and customer loyalty • Attract and retain new employees • Be more efficient by reducing or removing wasteful practices 14. Be an ethical leader Leaders who act ethically inspire those around them to act in a similar way. It’s about leading by example and with integrity. In his book, Conscious Business , the leadership coach and adviser Fred Kofman describes an ethical approach taken by business that aims to produce a sustainable, exceptional performance based on solidarity and dignity. Ethical leadership helps to produce a more positive work culture and greater productivity. 15. Be a mindful leader Being a mindful leader embodies many of the elements discussed here. Mindful leaders think of those around them and continually improve how they interact with others to make them better leaders. They are ‘present’ and fully engaged, enabling them to respond faster to challenges and ensuring they are always on the lookout for ways to make others in the workplace happier Be a Regenerative Ethical Mindful (REM) business Leaders with all the right tools can create stronger teams and improve decision-making at all levels. They enable their organisation to become a REM business. This delivers a competitive advantage, increases resilience and helps to create a greener planet. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Small business performance management can help small business owners grow their business faster by helping them to better execute their business strategy. 8 Tips for Small Business Performance Management Small business performance management can help small business owners grow their business faster by helping them to better execute their business strategy. Published on: 5 Aug 2021 Sustainable business growth is a challenge for all businesses, but perhaps no more so than for small businesses . Running a small business isn’t for the faint of heart. Successful small business owners must be able to mitigate risks, seize opportunities and deliver a product or service that meets consumer demand and expectations to grow. The good news is these challenges can be more adeptly tackled with effective small business performance management techniques. What is Small Business Performance Management? How are you currently measuring performance in your business, if at all? Performance is at the heart of sustainable business growth, but it needs to be measured and tracked to be successful and create long-term growth. This process allows businesses to identify strengths, weaknesses, opportunities for improvement so they can continuously improve activities, methods and processes across the business, increasing business performance and in turn increasing growth and profitability. Small business performance management refers simply to the processes and techniques businesses use to measure, track and improve business performance . Around a quarter of SMEs have no business strategy in place at all, but the challenge doesn’t stop here for businesses as executing strategies remains a challenge. Around 87% of businesses fail to execute their strategy. This comes down to a disconnect between strategy and operations. It stifles business performance and growth. But with set processes in place regarding the measurement and improvement of performance, small businesses are far more likely to successfully align strategy and operations and grow. With this in mind, let’s dive into our 8 simple tips for small business performance management. 1. Develop Clear Business Performance Goals What are you trying to achieve? The goals you choose will be unique to your business and strategy . Different business will have different goals, you may be a flooring and carpet business These goals will help you establish critical success factors (CSFs). Critical success factors refer to the specific activities the business needs to focus on to meet these goals. For example, for a restaurant to increase sales, a critical success factor would be great customer service. Essentially CSFs can help you figure out how to link your goals to your operations and which processes and activities you need to focus on to manage better business performance. When setting goals, it helps to set SMART goals. These are: Specific Measurable Attainable Realistic Time-bound 2. Choose Your Key Performance Indicators Once you’ve defined your goals and you know the activities you need to focus on to reach them, you can look at how you’ll measure them. You can do this using key performance indicators (KPIs). There are many potential KPI metrics you can use within a business performance management framework and they’ll vary depending on the department and activity. For example: Management KPIs examples: Customer acquisition costs P/E ratio Net profit margin percentage Return on equity Finance KPIs examples: Gross profit margin percentage Operating profit margin percentage Working capital Operating expenses ratios Sales and Marketing KPIs examples: Average order value Average sales cycle length Lead conversion rate Profit margin per sales rep Service KPIs examples: Average response time First call resolution Net retention Customer satisfaction score HR KPIs examples: Employee turnover rate Employee satisfaction rate Cost per hire Training costs The most important thing when choosing KPIs however is to ensure they’re relevant. For example, if one of your goals was to increase customer retention rates by 15% over the course of the year, you’ll want KPIs relevant to your customer experience and service such as net retention, customer satisfaction and more. 3. Create a Collaborative Business Performance Management Process The best way to get engaged employees who understand and are committed to improving business performance isn’t to dictate the performance goals and KPIs down to them. This can often leave employees clueless about why these are the KPIs and how they align with larger business goals. To avoid this, business owners and leaders throughout the business need to make business performance management a collaborative process. Hold meetings with employees where you discuss the larger business goals, how departments are contributing to those and ask them how they think different aspects of business performance could be improved. These are the people who know your customers the very best, as well as the roles the best. They know where the inefficiencies, challenges and strengths are. They’re best placed to help identify where processes and activities can be improved and how that could be measured, in collaboration with management and leadership. 4. Always Encourage Honest and Transparent Communication Closely linked to the above, businesses need to be transparent about performance goals, how well the business is doing and how departments are doing. Discussions relating to managing business performance cannot be contained to business owners and managers. There should be honest and transparent communication across the business. Collaboration and communication work hand in hand. Better still, modelling honest and transparent communication across the business encourages employees to be able to discuss challenges and opportunities for performance improvement. 5. Utilise Business Intelligence Solutions There was a time when gathering and analysing performance data was an administrative nightmare, taking up valuable time and resources. Business intelligence technologies have advanced to remove these laborious tasks. The best business intelligence solutions can not only gather performance data, but give insights into real-time performance, contextualise data against external sources and utilise predictive analytics for better planning. The financial costs involved in business intelligence solutions is often a barrier for SMEs. They simply see it as an additional expenditure, as opposed to an investment. But these technologies can help save valuable time which can be better dedicated to more creative tasks. They can also help you make better decisions thanks to a mix of insightful quantitative and qualitative data. In particular, the use of real-time analytics allows businesses to better adapt, react and strategise to unforeseen external challenges, making them more resilient and competitive. 6. Record Any Changes Made to Track the Impact on Business Performance Changes to activities and processes in an attempt to improve business performance shouldn’t be made and forgotten about. These need to be recorded so you can better understand how they impacted business performance. Recording them allows you to pinpoint when the change was made and the performance of activities and processes after. This can help you better identify which changes had the biggest impact on business performance, both positively and negatively. 7. Make it a Continuous Business Performance Management Process You’ve set your goals and KPIs. You’ve got the technology to give you the insights necessary. You’ve identified the processes and activities across your business that can help improve performance and you’ve recorded the changes made. This is true for small businesses like a plumbing business as it is for any other. You’re done, right? A successful business performance management process is continuous. It is continuously developing by improving performance, reaching goals, setting new goals and repeating the process. 8. Align Performance Metrics Using a Balanced Scorecard For a long time, performance metrics for businesses were focused firmly on financial results or market share. But performance metrics today consider many other aspects of business and span across departments. This can present a challenge in itself of aligning all the various performance metrics to present one clear, cohesive image of business-wide performance. Businesses end up prioritising one aspect of performance over another and departments silo to focus on their own performance metrics. Alternatively, for leaders trying to look at all the various performance metrics available, it’s overwhelming. It’s difficult to contextualise them against each other in any kind of timely fashion. Businesses need a simple solution that presents a balanced view of performance across the business. That’s why businesses use a balanced scorecard (BSC) to better understand how a business is performing. This performance management tool traditionally gives four important perspectives on business performance: Financial perspective Customer perspective Internal business perspective Innovation and learning perspective It does this by providing answers to four questions: How do shareholders see us? How do customers see us? What must we excel at? Can we continue to improve and create value? Each section has a list of goals and corresponding measures to present a clear, unified view of performance across the business. It minimises information overload and allows businesses to see where performance is improving and where further improvement is necessary. Maximising a Modest Marketing Budget For small businesses, a tight marketing budget isn't a setback; it's an opportunity for ingenuity and resourcefulness. Limited funds compel entrepreneurs to think outside the box, creating a culture of innovation and efficiency. Maximising a modest budget isn't just about making ends meet—it's about transforming constraints into catalysts for creativity. It's a chance to craft compelling narratives, build genuine connections with audiences, and establish a memorable brand presence that resonates far beyond the limitations of monetary resources. The Benefits of a Performance Management Framework for Small Businesses Business performance management can help small businesses better navigate a difficult world. Markets are increasingly volatile and unpredictable due to economic uncertainty. Globalisation has increased competition and decreased margins. Consumers demand an outstanding customer experience alongside a socially and environmentally responsible brand. Innovation is no longer a plus, but a necessity to survive. These external challenges can be better navigated with a process of continuous performance review and improvement. They allow businesses to better adapt to changing market conditions with real-time data, so they can plan and strategise for the unexpected. Increasing business performance helps companies become more competitive by offering the same product or service with lower operational costs. It can also help improve the customer experience through continuously improving customer service processes and activities. Overall, a business performance management process helps businesses plug the gap between business strategy and execution. It can aid companies in developing the exact methods to reach targets, as well as measure the success of those methods to improve future performance. Implement a Continuous Improvement Process in Your Small Business A small business performance management process can help small businesses better plan, strategise and execute said strategy, ultimately helping create sustainable long-term growth. Small businesses should focus on setting clear goals with relevant KPIs, in collaboration with teams and departments across the business. These performance targets and indeed the performance of the company as a whole should be shared openly with employees and celebrated. Business intelligence solutions should be utilised to give the best analytical insight, aiding better decision making and improving adaptability. Our continuous business improvement programme helps SMEs in developing a process of continuous improvement to create long-term business growth through improved performance and increased productivity. 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Workplace personality tests can to improve team productivity. Organisational structure and personality types can influence each other in various ways. How to use Workplace Personality Tests to Improve Team Productivity Personality tests boost productivity by improving communication, aligning tasks with strengths, and enhancing teamwork. Published on: 6 Mar 2025 At the heart of any productive business operations are its people. From frontline employees and cross-functional teams to executives and leadership, individuals drive the success of your organisation. However, many businesses struggle with team alignment , collaborative workflows , and effective communication , crucial factors in achieving organisational goals . Research highlights that poor collaboration and weak leadership skills often lead to workplace inefficiencies . Companies that focus on building engaged teams, fostering transparency, and strengthening leadership development can drive significant improvements in employee engagement , productivity, and overall business performance . Yet research shows many businesses struggle with the “people” element of businesses: 97% of employees and executives believe a lack of alignment within teams impacts the outcome of tasks and projects. 39% of employees believe that people in their own organization don’t collaborate enough. 86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures. 99.1% of employees prefer a workplace where people identify and discuss issues truthfully and effectively, but less than 50% say their organisation achieves this. 33% of employees said a lack of open, honest communication has the most negative impact on employee morale. 63% of workers want to quit their jobs because poor communication prevented them from doing their job effectively. For managers, the picture is even bleaker, as nearly 30% of employees believe their manager lacks team building skills and only 40% of employees report feeling satisfied with their relationship with their direct superior. Perhaps even more surprisingly, 69% of managers say they’re uncomfortable communicating with their team. All these statistics go to show the importance of b uilding productive, engaged teams, with strong leadership driving them. The benefits for businesses who do manage this are significant. How Organisational Structure and Personality Types Are Related? Organisational structure and personality types influence each other in various ways. While personality types can shape organisational structures, factors like industry, goals, and external environments also impact this relationship. 1. Fit Between Personality and Structure Different structures are suited to different personality traits. In hierarchical organisations, individuals who thrive on following instructions and established procedures perform best. On the other hand, flatter, decentralised structures require employees with adaptability, initiative, and independence, aligning with traits like openness and extraversion. Matching organisational structure with the prevalent personality types can enhance overall productivity. 2. Impact on Satisfaction Organisational structure can significantly affect individual job satisfaction, depending on personality traits. For instance, employees who value structure and stability may excel in traditional, hierarchical organisations where rules and procedures are clear. In contrast, those with a preference for creativity, autonomy, and flexibility may feel stifled in such environments and thrive in decentralised setups. When personality types and organisational structures align, job satisfaction improves, leading to higher retention and workplace morale. 3. Communication and Collaboration Personality types directly influence communication and collaboration styles. Introverted individuals may feel more comfortable in smaller teams or decentralised structures that foster focused, thoughtful interaction, while extroverts often thrive in structures promoting frequent social interaction and open communication. Organisations can design structures that cater to these preferences, improving both the quality of communication and collaborative efforts, leading to better overall performance and project success. 4. Leadership Styles Leadership styles are also shaped by personality types and are closely tied to the organisational structure. Transformational leaders, who inspire and motivate, often perform well in flexible, flatter organisations where creativity and innovation are prioritised. In contrast, transactional leaders, who focus on goals and rewards, may be more effective in hierarchical structures that rely on strict adherence to procedures and rules. The right match between leadership style and organisational structure supports business goals and enhances team effectiveness. 5. Organisational Culture Personality types contribute to and are shaped by an organisation’s culture, which is influenced by its structure. A hierarchical structure may create a culture of compliance, formality, and respect for authority, attracting individuals who align with these values. Meanwhile, decentralised structures may foster a culture of collaboration, creativity, and empowerment, drawing in employees who prefer autonomy and innovation. The evolving culture reinforces the structure and influences how the organisation grows and adapts. By considering the relationship between personality dynamics and organisational structure, businesses can create an environment that optimises communication, leadership, satisfaction, and overall performance. Stronger teams offer are more productive teams Research shows extremely connected teams are 21% more profitable . This is likely due to the simple fact that happy employees are more productive employees. Working in great teams with better communication, rapport, decision making and understanding is all part of this. For example, 37% of employees say working in a great team is their primary reason for staying at a company. In fact, some 54% of employees say a strong sense of community including great coworkers kept them at a company longer than was in their best interest. So building great teams and having strong leadership for those teams directly impacts your business’s bottom line. You’ll have more productive, engaged and profitable employees, who will stick around longer, reducing employee churn and recruitment costs. What are workplace personality tests and how can they help build more productive teams? There is no one way to build a great team, but workplace personality tests are a great place to start, whether this is at the point of recruitment or long after your teams have been hired. Workplace personality tests are a kind of assessment employers can use to help better understand new candidates as well as current employees. Many ( although not all! ) have roots in psychology. Much like many psychological assessments, workplace personality tests give an insight into key characteristics, behaviours and people’s intrinsic motivations that drive them to behave the way they do. The information obtained from workplace personality tests can then be used to better understand the behaviours within teams, as well as the behaviours possessed by leaders across businesses, to better communicate, motivate and engage. Different types of workplace personality tests There are many different types of workplace personality tests on offer and they’re not all made equal. Some have no research or founding in psychology, while others provide little actionable insight. All this said, we’ll look at the most common workplace personality tests including: Keirsey Temperament Sorter Disc Personality Test The Myers Briggs Type Indicator The Caliper Profile The SHL Occupational Personality Questionnaire Minnesota Multiphasic Personality Inventory Keirsey Temperament Sorter This workplace personality test is based on Ancient Greek philosopher Hippocrates’ theory. He stated that all human’s personas are made up of four temperaments: Artisan Guardian Idealist Rational This test is very similar to the Myers Briggs test, in that these four temperaments are scaled and then categorised into 16 different groups. However, one of the key differences is that the MBT focuses on how people feel and think, while Kerisey focuses more on behaviour. It’s been used widely, perhaps most notably by the US Air Force. DISC Personality Test The Disc Personality Test was created by William Moulton Marston in 1928, and later adapted by Walter Clark in 1940. It’s made up of 28 questions which measure four key areas: Dominance Influence Steadiness Conscientiousness Candidates are categorised into distinct personality types, based on their characteristics in these four areas. Those with D personality profiles tend to be confident and forceful and prioritise taking action and challenging themselves. Those with I personality profiles tend to be excellent communicators and influencers and prioritise relationships. Those with S personality profiles tend to be supportive and patient and prioritise teamwork. Finally, those with C personality profiles tend to be analytical thinkers and methodical workers. Disc workplace personality testing is particularly useful for assessing management and other leaders and is in widespread use for businesses around the world. Part of this is also down to its accessibility. Unlike many tests, it doesn’t take hours to complete and still provides an excellent insight into the behaviours that cause people to act the way they do. The Myers Briggs Type Indicator One of the most well-known personality tests, the Myers Briggs test was developed in the 1940s by mother and daughter Katherine Cook Briggs and Isabell Briggs Myers. This personality test is made up of 93 questions and categorises people into one of 16 different personality types, each with their own unique strengths and weaknesses. It’s made up of four different scales which are: Extraversion (E) – Introversion (I) Sensing (S) – Intuition (N) Thinking (T) – Feeling (F) Judging (J) – Perceiving (P) These scales are then used to dictate the different personality types including: ISTJ – The Inspector ISTP – The Crafter ISFJ – The Protector ISFP – The Artist INFJ – The Advocate INFP – The Mediator INTJ – The Architect INTP – The Thinker ESTP – The Persuader ESTJ – The Director ESFP – The Performer ESFJ – The Caregiver ENFP – The Champion ENFJ – The Giver ENTP – The Debater ENTJ – The Commander Many fortune 500 companies use this workplace personality test in their recruitment processes, despite this personality test being fairly controversial within the psychological field. The Caliper Profile This workplace personality test was invented around 50 years ago by an Australian talent management company. Since then, it’s been used by more than 65,000 businesses worldwide to assess more than 4.5 million candidates. The test has psychological roots, it’s based on the work of psychologists Raymond Cattell and Frank Warburton. The assessment is made up of 180 multiple choice questions, as well as some puzzle and problem solving tasks for certain roles. Once completed, the Caliper test then assesses four main aspects of an employee or candidates personality, including: Leadership skills Interpersonal skills Problem solving and decision making Personal organisation This information can then all be used to see whether a candidate is a good fit for a wider team. The SHL Occupational Personality Questionnaire This workplace personality test is made up of 104 that assess 32 different characteristics. These characteristics are then assessed to give employers an indication as to whether candidates possess the right characteristics for the desired role. They can also be used to identify performance issues and opportunities for current employees, as well as to identify leadership potential in existing employees. The simplicity of this test works in its favour in recruitment in particular. It allows employees to get an overview of candidate characteristics and easily compare many at once to see who might be the best fit. Minnesota Multiphasic Personality Inventory This whopper of a personality test includes 567 true or false questions. It was invented back in 1939 to analyse different personalities. This workplace personality test isn’t common by any means, but many organisations with high-risk and stress positions, like the military, use this test. That’s because due to its roots in the mental health profession it can be useful to assess the psychological stability of potential candidates. Emotional Intelligence and Leadership Emotional quotient (also known as emotional intelligence) or EQ is a person’s ability to understand, use and manage their emotions in positive ways to effectively communicate, show empathy, relieve stress, overcome challenges and defuse conflict. Why is EQ Important in Leadership? Emotionally intelligent leaders are self-aware, can effectively self-regulate and self-motivate most especially when the going gets tough. EQ leaders are able to engage with others and see staff and employees as people and not just as producers of outcomes. They come from a solid self-foundation, possess personal integrity and can inspire and motivate other people to do their best. The Top 5 Characteristics of EQ in leaders 1. Self-awareness The characteristic in leaders that show they know how they feel and recognize how their emotions can affect the people who surround them. A self-aware leader acknowledges their ego and knows their strengths and weaknesses. Their aim is to make sure that their ego and personal traits work for the benefit of the workforce and organization. 2. Self-regulation A leadership attribute that gives leaders a firm grasp and control of their emotions. A self-regulated leader stays firm, fair and calm. Other people that surround this type of leader stay reassured and motivated to take positive action because their leader does not lash out, does not compromise their work ethic and is accountable for their actions. This creates a general sense of improved wellbeing in the workplace. 3. Motivation A leadership characteristic that comes from knowing what needs to be done and why these things must be done. A motivated leader has high work standards for themselves and can work on their goals consistently. They also understand what motivates their workers and colleagues and can incentivize these so they can also give their best in their work. 4. Empathy An empathic leader can put themselves in another person’s shoes (so to speak) and can see things from their perspective. This ability can help develop people, challenge stereotypes and unfair assumptions. In difficult situations, it can help deliver critical feedback in a tactful manner as well as to be a good listener. All these lead to building a positive work atmosphere with a loyal and respectful team. 5. Social Skills The art of communication with an emotional connection. Leaders with good social skills can deliver bad news and celebrate good news in a way that makes people feel that improvement can be done by taking action on such opportunities. Having social skills can make leaders resolve conflicts in a calm, peaceful and diplomatic manner. This skill allows leaders to demonstrate that they respect the other person’s needs, hopes and fears. Emotional intelligence or EQ is vital for effective leadership. The main leadership skills associated with emotional intelligence are empathy, social skills, self-awareness, and self-regulation, as well as a wide variety of skills associated with these traits. Leaders who possess these skills are more capable of understanding other people’s unique behaviours and motivations, as well as their own. The global emotional intelligence test isn’t a workplace personality test per say, but it is a very helpful tool for businesses to assess current leadership, as well as identify staff who could make great leaders in the future. This test was developed by science journalist Daniel Goleman. It is a particularly useful tool in assessing leadership as it examines the array of skills and characteristics necessary to perform well as a leader. The test measures four main areas: Self-awareness Self-management Social awareness Relationship management Self-awareness is at the heart of emotional intelligence and is made up of three key competencies; emotional self-awareness, accurate self-assessment and self-confidence. These three characteristics enable employees to be able to understand the impact their emotions have on their behaviour, as well as identify their own strengths and weaknesses. Self-management refers to five competences; self-control, transparency, adaptability, achievement orientation and initiative. Much like the above, excellent leaders possess a strong mix of these qualities to enable them to communicate with and manage teams. Social awareness refers to the ability to empathise, but it also examines a candidates organisational awareness and service orientation. The latter are both vital leadership skills in being able to understand both business and customer needs. Finally, relationship management has seven competencies; visionary leadership, developing others, influence, change catalyst, conflict management, building bonds and teamwork and collaboration. Much like all of the above, those who possess skills and characteristics in all these areas possess a high level of emotional intelligence and make excellent leaders. The test scores candidates on a scale of one to 10 in each of these four areas. Employers can use it to assess new candidates and current employees for leadership roles to see whether they would make effective leaders. It can also be used to identify areas for current leadership to improve in. Proponents of EI testing argue that it gives a more realistic assessment of leadership skills than skill or IQ testing. What are the productivity benefits of workplace personality tests? Workplace personality tests aren’t popular for no reason. Hundreds of thousands of organisations across the world, including Fortune 500 companies, use them for one simple reason — to build better teams and identify stronger leaders. Once a test is completed, it shouldn’t just be read once and discarded. These tests can reveal the intrinsic motivators that every person has. This information can then be used to better understand how to communicate with each other, as well as resolve conflicts. Employees who have undergone workplace personality testing have a heightened sense of self awareness. They can better understand what motivates them and use this information to tackle problems differently. Workplace personality tests can also be used to better understand each other. For example, if a whole team undergoes a DISC workplace personality test, it’s highly unlikely everyone on the team would come out as a D profile. Far more likely, the team will be built up of a healthy mix of different DISC profiles. Teams can use this information to better understand each other and divvy out tasks to those most suited to them. They can also use this information to understand colleagues whose behaviour may not previously have made sense to them, as they have different intrinsic motivators. This can make conflict more productive. Using a mix of self awareness and awareness of others, they can better resolve conflicts in the workplace and create productive solutions that work for everyone. Similarly, managers can use the information obtained from workplace personality testing to lead teams better. They can understand exactly what motivates each team member and better assign enjoyable tasks to employees based on this knowledge. For training, it can also help leaders identify different ways to train to maximise engagement and outcome. Overall, all these various workplace personality test benefits have a direct impact on the bottom line, which we talked about above. You have happier, more engaged teams who can communicate better and work more productively together. For recruitment processes in particular, workplace personality tests can speed up the entire process, reducing candidates to a smaller pool who you already know have the desired characteristics and behaviours for your company culture and the job role itself. Another unique benefit for recruitment is that workplace personality tests can reduce bias. Employers can make fairer decisions using the information provided from assessments to pick the best candidate for the role, as opposed to basing it on gut feeling or personal preference. The benefits of workplace personality testing for leadership We hinted at this in the introduction already, but many businesses aren’t getting leadership quite right. They promote based on technical skills alone, as opposed to the behaviours and characteristics necessary for employees to make good leaders. This matters, because as the old trope goes, people quit their boss, not their job. Research actually backs this one up, as around 57% of workers quit due to their direct supervisor. Moreover, managers account for at least 70% of the variance in employee engagement, which as we know has a huge impact on business productivity. This goes to show how important leadership skills are for managers. If they possess a high level of emotional intelligence, there is a high chance they will make more effective leaders and lead more productive teams. Workplace personality testing can give employers these insights ahead of internal promotions to ensure they’re promoting the right people to the right areas, as opposed to focusing on technical skill and length of service alone, as neither of these are indicative of a strong leader. What are the criticisms of workplace personality tests? The workplace personality test market is crowded. There are many organisations offering a huge variety of workplace personality tests. Many have great merit, others not so much. Many are making larger claims than they should be. A workplace personality test result cannot predict all behaviour. It can certainly indicate, but it is by no means a guarantee. As well as this, some write personality testing as a whole off as pseudoscience. This is often due to the lack of analysis and research behind some tests, but is well worth noting many other tests have been studied at length and found to have been reliable. One of the main criticisms surrounding workplace personality testing is whether the insight gained is actually useful. Much of this comes down to businesses simply using a workplace personality test and not then applying what they learn from that insight. How to use workplace personality tests to help your business There is little benefit, beyond entertainment, to taking a workplace personality test, if that test is then plonked in a drawer and forgotten about. For workplace personality tests to be beneficial to your business, you need to use the insights gained and take logical actions built on those insights. There are no end of ways to do this, but we’ll cover some common practical uses of workplace personality tests for businesses. Workplace Personality Tests for Hiring and Internal Promotion You can use workplace personality tests to gain more insight into the right people to hire for your business, as well as promote the best internal candidates to the best roles to suit them. How often have you brought in a new employee with all the skills they needed, only to have a team to have endless trouble working with them? This comes down to human nature and the behaviours that drive us. Hiring for behaviours and characteristics makes far more sense than hiring for skill, because skill can be taught far more easily than a new behaviour. Workplace personality testing can be used to assess candidate behaviours and speed up the hiring and onboarding process. Tailor Communication to Each Personality Type Some employees are perfectly happy to sit back and follow someone else’s lead, while others would much rather work autonomously and only communicate when they need assistance. Understanding your own personality type, as well as others, means you can tailor communications with every team member, across a business. Your team will get the type of communication they desire and feel more valued and respected as a result of it. Design More Productive Teams Let’s take DISC personality profiles as the example here and say one of your customer service teams is made up of a mix of I and S personality profiles. They all get on incredibly well as they value relationships in the workplace and are very people focused, but they love to chat all day. You could use the information obtained from this to identify that you need a D personality in that team to give more direction and focus. Our point is, you can use workplace personality tests to construct better teams with a mix of personality types that compliment each other to increase productivity and performance. Aid Employee Development Employees want long term opportunities for learning and development opportunities from the company they work for. You can use workplace personality tests to further your employees development. Once they understand their own personality assessment, they can identify areas of both strength and weaknesses to improve on, in turn, improving their performance and opening up new opportunities for promotion across the business. Better Motivate and Engage Employees Different personality types are motivated by different factors. You can use workplace personality tests to tailor feedback and goals to different employees. For example, those with a C personality profile in DISC personality testing pride themselves on quality and accuracy, so you can tailor performance goals with this in mind. Meanwhile those with an I personality profile prioritise relationships, so regular one to one feedback will help motivate these employees more than annual performance appraisals ever could. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Service recovery can help turn a negative customer experience into a great one, helping businesses increase customer lifetime value and customer loyalty. Service Recovery 101: What Is It, Why You Need It & Strategies Service recovery can help turn a negative customer experience into a great one, helping businesses increase customer lifetime value and customer loyalty. Published on: 6 May 2021 Could you afford to lose half of your customers? Because that’s what poor customer service costs you. Around 50% of customers will leave for another brand after just one bad experience. Of course, problems will crop up no matter how much you’ve worked on continually improving your customer experience and customer service. They’re inevitable. With these problems, however big or small, come customer complaints and unhappy customers. For many businesses, customer complaints are just accepted as part of doing business. After all, you can’t please everyone. But how much is this really costing them? Just that one customer or more? The reality is, the average customer will tell 15 people about a negative experience. If it’s a particularly negative experience, you can bet in today’s internet driven world, they’ll also be posting bad reviews on Google, social media and more as well. All this to say, the price of just one unhappy customer might be higher than you thought. But there is an alternative and it comes in the form of service recovery. Service recovery deals with customer complaints effectively to create more loyal, profitable customers. In a sense, it looks at unhappy customers as an opportunity — something all businesses should be doing. We’re here to guide you through it. We’ll be covering: What is service recovery? The service recovery paradox Why service recovery is important When do you need service recovery? Service recovery examples Tips for an effective service recovery process 4 step service recovery strategy What is service recovery? Think about your typical complaint. How does your business handle it? Do you do everything you can to resolve the issue with the customer or do you direct your customer service advisors to follow inflexible guidelines for every complaint? Many businesses opt for the latter and it doesn’t work. They lose out on potential customer lifetime value as well as valuable word of mouth marketing. The reality is a customer complaint will almost always highlight a problem with your business. It could be with your customer journey, your product or your staff. Whatever it is, it’s valuable to take the time to listen and – even more importantly – rectify the issue. Why? Because of service recovery. At its most basic level we can define service recovery as: “The act of reaching out to customers with a negative customer experience in order to rectify the situation.” It’s a pretty simple idea and many companies are already doing it without this label. But we know companies need to be actively working on service recovery with a clear process and strategy for the best results. But why? Because of the service recovery paradox. The service recovery paradox The service recovery paradox is the theory that states customers who have a negative experience, but receive a prompt resolution, will be more loyal customers than those who had a straight-forward positive experience. It sounds like one of those wildly untrue urban legends. But it’s been proven true time and time again. The logic behind it is this: a bad customer experience gives businesses the opportunity to prove to a customer how much they value them. Meanwhile customers who have a typical experience with a company have never been shown how much they’re valued so their loyalty will be less. Unless your customer experience is truly outstanding, they could get the same typical customer experience anywhere. If we consider the service recovery paradox, then our unhappy customers aren’t just a cost of doing business. They’re a huge opportunity. Why is service recovery important? Even if we take the service recovery paradox out of the equation, service recovery is an incredibly important aspect all businesses need to be reviewing, analysing and measuring. This is because modern consumers have higher expectations for customer service. The reality is, without a service recovery strategy, you won’t keep up with these expectations and you’ll be delivering a worse customer experience than your competitors. To drive home our point on how service recovery is an expectation, not a benefit, let’s look at the statistics. When all’s said and done, bad customer service costs UK businesses £234 billion a year in lost sales. It’s a whopper of a figure, but what’s behind it? The reality is for most businesses their customer service hasn’t changed that much over the past decade and therein lies the problem — their customer’s expectations of service have. They just haven’t kept up. This has led to somewhat of a poor customer service crisis in the UK. It’s wreaking havoc on businesses’ potential profitability and productivity. Service recovery can help your business stand out from competitors with outstanding customer service and more loyal and profitable customers in return, as well as helping you continually improve issues that occur so they don’t happen again. When do you need service recovery? If you’re still not sure when your business could benefit from service recovery, here’s a couple of example scenarios which might help clarify things. Negative third party reviews It can seem like there’s an endless array of third party review sites now. From Google My Business to TrustPilot to Yelp, businesses are contending with plenty of places to monitor. It’s lovely when the positive reviews roll in, but it isn’t always the case. Every business knows an unhappy customer is far more likely to leave a review than a happy one. Instead of replying with a stock response or an empty apology, you can use a service recovery process here to actually attempt to resolve the issue at hand and hopefully, get the review amended to reflect that. Not only does it benefit that one customer, but other customers can see how much you value your customers. Low customer feedback scores Service recovery doesn’t always start with an actual complaint. If you’re regularly collecting customer feedback ( and you should be ) then it could start with a poor or even mediocre feedback form. These are valuable opportunities for you to prove to your customers that you really want their business and that their feedback matters. Upset phone calls Although some customers take straight to Twitter to air their grievances, many will give companies the benefit of the doubt first. Knowing how to handle an upset customer is all part of service recovery. This isn’t about completely winging it, you need a set service recovery process in place for the best results for your customers and your brand. Social media complaints The power of social media has revolutionised the way customers can complain. It’s every company’s worst nightmare when a complaint goes viral and customers know it. Doing so on a public forum means other potential customers are more likely to see and avoid the brand if they feel the response is poor. Because of this, companies need to be on their A game when it comes to responding to social media complaints. Service recovery strategies can help you achieve this. Service recovery examples To prove our above point, let’s look at some companies absolutely smashing their customer service recovery game on Twitter. Xbox Xbox is setting the bar for customer experience and service recovery in the gaming industry, which shouldn’t come as a surprise when the company is owned by Microsoft. They have a full 24/7 team dedicated to their Twitter account to not only respond to tweets, but to actively monitor for mentions. The latter is an outstanding example of proactive customer service , but their service recovery efforts are equally impressive. They respond within minutes to all customer issues with thorough, helpful replies. They also follow up their suggested solutions to ensure the problems are permanently resolved. It’s a great example of how to turn an unhappy customer into a lifelong customer who knows they’re valued. JetBlue Some airlines are renowned for their abysmal customer service, but JetBlue isn’t one of them. We all know airlines have delays for a myriad of reasons, from weather conditions to maintenance issues. It’s an incredibly frustrating experience for customers with no information available beyond the knowledge of the flight being delayed, as well as being stuck in an airport. So it’s no wonder airlines receive so many complaints. But this American airline sets the gold standard for responsiveness when it comes to dealing with social media complaints. They almost always respond to unhappy customers within the hour, with useful responses like explaining the cause of the delay or letting them know how long the delay will be, as well as an apology. This goes to show service recovery isn’t always about fixing the issue at hand. Customers don’t expect airlines to be able to control the weather. But they do expect to be kept up to date with the latest information, as well as for companies to hold themselves accountable and be responsive. The latter is particularly pertinent if we link it back to our service recovery paradox because of a Harvard Business Study . This study showed companies that customers who have a complaint handled in five minutes or less went on to spend more on future purchases. Adidas Sports giant Adidas gave every brand a lesson in humility and accountability a few years ago after their infamous marketing snafu around the Boston Marathon. As a reminder, they made the mother of all mistakes when they sent out an automated marketing email with the headline: “Congrats, you survived the Boston Marathon”. It was an obvious oversight and insensitive to the horrendous bombing that had occurred at the marathon just five years prior. As far as mistakes go, while it was genuine, it was colossal and people were understandably outraged across social media platforms. Adidas recognised this. They owned up to their mistake by issuing a public apology where they took accountability for their actions by stating it was thoughtless and insensitive and stating they were incredibly sorry. This goes to show that companies can’t always take back their mistakes, but transparency and accountability are a vital part of service recovery. Tips for an effective service recovery process Now you know what service recovery is, why it’s important and what great service recovery looks like, you’re likely raring to go to implement a service recovery strategy in your own business. But hold your horses. Before you implement a service recovery strategy, you need to lay the foundations within your business to allow your strategy to actually thrive. There’s a few simple foundations to implement first: Hire selectively Training and resources Have a set complaints process Measurement Hire selectively Your customer service staff are those on the frontlines, dealing with the issues at hand. As such, their communications skills need to be outstanding. Having the right screening and hiring processes can help you get the best staff for the job with the right personality match. Training and resources From here, empower your staff with the right tools and help they need, whatever that might be. This could be in the form of regular customer service skills training for the whole team or helping individual staff with one on one training to do with a specific skill. Similarly, staff should also have the right resources they need to help customers. They shouldn’t need to run around endless departments trying to chase up an answer for customers. Have set processes created to make it easier for your staff to help your customers. If you haven’t got a process, create them as you need based on your staff’s suggestions. Have a set complaints process If you don’t already have a set complaints process, you need one. If you already have one, you need to review it. A complaints process will look slightly different for every business. However, in general it will look something like: Dedicated complaints staff or team to take ownership of complaints Process to take action on complaints Follow up routines with customers Analysis of complaint and review of process to improve Analysis and Measurement Though this should be part of each complaint, your business also needs to take the time to review complaints together to identify patterns so you can make larger scale improvements to your business, allowing you to continually improve. Not only this, but you need the tools and software that allow you to measure these improvements. This might be in the form of web analytics, customer service metrics or revenue intelligence metrics. How do you perform service recovery: A 4 step service recovery strategy Once you have those important foundations in place for your service recovery process, you can get into creating a service recovery strategy to help you turn unhappy customers into loyal, valuable ones. Our 4 step service recovery strategy goes like so: Listen Accountability Agree Act 1. Listen Start off with the obvious — hear your customers out. This means actively listening , but also ensuring your employees actually have the time to hear customers out. If they’re so stressed and overworked that they can’t even focus on the call because they know there’s 50 others on hold, this needs resolving too. Employees should have the time, energy and motivation to be able to give customers the due attention they need and deserve. 2. Accountability Once a complaint has been heard, take accountability. Be empathetic , acknowledge the inconvenience or upset the company has caused and commit to rectifying it. 3. Agree Discuss with a customer the various options for resolution. You can begin by referring to your normal complaints process and see if any of these would fit the circumstances. However, often customers don’t feel like standard complaints resolutions fit their needs, so hear them out again. Ask customers what kind of resolution they’d like to see and work together to figure out a reasonable one where needed. Employees should be empowered to be able to resolve complaints flexibly, as well as be able to escalate them with ease where needed. 4. Act Now the customer has agreed to a resolution, follow through on it. Take the actions needed to follow through on the agreement you’ve come to. For employees, this means taking ownership of the issue and following up all the necessary actions. It also means following up with the customer to keep them informed of any updates as needed. For managers and business owners, like above, it means ensuring your employees have the time to actually be able to do this. If they’re completely overwhelmed, problems will pile up and they’ll be unable to effectively recover customers. These four steps will help you deliver effective service recovery for every customer with unique and thoughtful solutions. Ultimately when it’s done right, it’ll help turn unhappy customers into lifelong customers. Continuous improvement is a necessity Service recovery is no longer an option for businesses. Customers expect companies to take accountability and act promptly to resolve customer service issues. Businesses need a robust foundation of process as well as a dedicated service recovery strategy to offer the best solutions and, in turn, have the best chance of increasing customer loyalty and lifetime value. 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Learn how to increase estate agency profitability through increased productivity with 5 simple tips from the productivity experts, Awardaroo. How To Increase Estate Agency Profitability Learn how to increase estate agency profitability through increased productivity with 5 simple tips. Published on: 29 Nov 2018 In this new online property world, when using a High Street agent customers will expect and deserve exceptional levels of customer service and transparency if fees will be 5+ times that of online rivals. How to increase Estate Agency profitability: 5 tips Recognise you’re finding someone a new home, not trying to get them registered. Show you care about them first before yourself or your properties. Check those feelings! Feeling stressed? The caller will sense it. Use your name when taking a call, twice! The first time you’re the company, the second time, you’re you. Log those calls, you need all the local buyers you can get. Work as a team and address this challenge head-on together then you will be one of the few winners, not the many losers. Lastly, consider business coaching for estate agents as leading a team can be a lonely place and an independent, outside view can help keep you on track and improve your business performance. P.S. You need to create a culture, a mindset of exceptional customer service and continuous business improvement to make this stick for the long term. We book and buy our holidays and hotels online now. We’re spending more and more time and money online. This year we will hit “Peak Cash” according to The Guardian, digital payments will exceed cash in 2018 . The way we buy, sell and rent our homes is changing too. The way we live is changing so fast, the world is changing fast, we are going through the biggest revolution ever but it hardly seems to get a mention anywhere by anybody. The industrial revolution was a big event but would did that do? It replaced the horse with horsepower, animals with machines. What is happening today is that and some. According to the World Economic Forum we are in the 4th Industrial Revolution. Soon we will all be driving around in electric cars or hopping in a self-drive car or in a pilot-less drone or going on a holiday or a tour in space. Artificial Intelligence will be listening to us, obeying us, following us, curing us and making us all very nervous, I’m sure. To call this the 4th Industrial Revolution then is to misrepresent or understate what’s happening. The first revolution was mechanisation because somebody invented the steam engine, the second revolution was electrification because somebody invented the electric motor and a light bulb, the third was digital because somebody invented the transistor which gave birth to the PC and modern computers. In each case something got invented then used. And that was that. This “4th Industrial Revolution” has no single invention behind it. It is happening because massive computing power is being meshed with massive communications power. People can work together around the world easily and come up with new ideas then test them quickly to see if they are viable. We can simply fail faster than ever before, at a rate that is catapulting the rate at which new things become possible, new discoveries are made. So, let’s not call it the 4th Industrial Revolution, it’s a new beginning, the end of the past, so I’m calling it the Genie Revolution, the genie of human ingenuity is finally and fully out of the bottle. I digress, let’s get back to homes and houses. In amongst all this, the Estate Agency and Letting Agency market is changing, threats are many from Online and Hybrid Agents, other High Street agents improving their service, the abolition of Letting and Estate Agent fees and a slowing market. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

A Business Impact Analysis (BIA) is a systematic procedure for assessing the possible implications of a disruption to essential business operations. What is a Business Impact Analysis (BIA)? A business impact analysis (BIA) is a systematic procedure for assessing the possible implications of a disruption to essential business operations due to a catastrophe, accident, or emergency. Published on: 12 Jan 2023 The business continuity plan of an organisation must include a BIA. It has an investigative component to find any threats and vulnerabilities and a planning component to create risk-reduction plans. The result is a business impact analysis report that details the potential risks unique to the enterprise under study. Before the internet, social media, and artificial intelligence, a company could prepare a five-year business plan, develop a strategy, and then put the plan into practice. Similarly, a Business Impact Analysis might be developed to find future business continuity threats. The study might then be evaluated, risk mitigation measures developed, and then put on hold until the day a significant occurrence might necessitate their implementation. Today, controlling business disruption is business as usual, and having a disaster radar on round-the-clock is a tool every organisation needs. A firm will be thrown off track by all minor disturbances, not just one major one. By assessing possible business weaknesses, business gets a much more complete picture of their business risks and opportunities for improved business performance and how best to allocate resources today and in the event of an unforeseen and potentially catastrophic event. Awareness of the internal and external factors impacting business growth today and tomorrow improve business decision-making. Business disruption comes in many forms, whether due to competition, technology, the economy or regulation, amongst many other possibilities. Businesses seldom die from a single disruption but more commonly from mini troubles that may go unseen or unknown. When a larger, more obvious disorder occurs, this can bring the end, but it was probably not the real underlying cause of the failure. According to systemic leadership, a disruption in one area of the organisation will impact all other areas. These disruptions exist quantitatively and qualitatively and may impact the environment, employees, the larger community, and society. What Is Business Analysis? The business analysis uses IT systems, staff development, procedures, and business systems to pinpoint business problems, create solutions, and address them. Software development, process enhancements, organisational change, company transformation, and policy revisions may all be involved. The business analysis aims to reduce risk and increase the value of any change program for its constituents. They will consider all stakeholders as part of a stakeholder capitalism program when doing a business analysis that covers Environmental, Social, and Governance (ESG) factors and their effects on growth and profitability. This may include the rules and regulations about ESG compliance. ESG factors are becoming more and more significant to investors, employees, and customers. To maintain or boost individual and corporate productivity, they will work to maximise flow for the organisation, teams, departments, and personnel. Business analysis is determining and outlining the demands of an organisation’s operations and suggesting solutions to meet those needs. A business analyst’s job is to serve as a liaison between the technical team and the business stakeholders, ensuring that the created resolution satisfies their needs. A business analyst can offer insights that can guide decision-making and assist an organisation in achieving its objectives. They also considers the impact on stakeholders by collecting and analysing data and comments from stakeholders. Furthermore, business analysis can assist in locating new opportunities, places for improvement, and prospective growth areas and generate solutions that may result in business success, cost savings, increased revenue, and, therefore, benefits for shareholders. Overall, business analysis is essential to guarantee the long-term success of the company by bringing stakeholders’ interests and the company’s goals into alignment. Business Continuity Planning (BCP) The IT department of a corporation frequently develops a business continuity plan to reduce the risks of an unforeseen incident, like a flood or fire. It’s a proactive procedure that finds the company’s flaws and crisis-related vulnerabilities. Its purpose is to help avoid unplanned downtime and recover from it. It will go over the processes and systems that must be kept up in a crisis, like a server failure, a pandemic, or a natural disaster. The BCP must be maintained and regularly updated as it contains key information essential to the organisation’s successful operational performance. It should be tested to find any flaws so that they can be fixed and procedures updated. Its purpose: · To hasten a company’s ability to recover from an unplanned, major business incident. · Understanding potential threats to ongoing business performance and determining the necessary responses in the case of an unforeseen and unscheduled business event are made easier for a company, its directors, and senior personnel using this tool. This helps minimise any negative effects on the business’s finances and retain consumers. · Any unplanned business event will be lessened by a BCP, which will also help to maintain the company’s financial viability. · It will contain important policy details, contact information for key employees and other stakeholders, and crucial procedures to help implement any business recovery quickly and successfully. · Any single points of failure, current risk mitigation techniques, and the expertise required to recover from an incident will all be identified. BS 25999 and ISO 22301 BS 25999 and ISO 22301 are international standards for business continuity management (BCM). BCM is organising, creating, and upholding policies and procedures that businesses can utilise to lessen the effects of disruptions and go on during an emergency or catastrophe. A British standard for BCM called BS 25999 was initially released in 2007. It offers recommendations for businesses on how to set up and maintain a BCM system, including how to do risk analyses, create business continuity plans, and run tests to see how well they work. ISO 22301 eventually took the place of BS 25999. A global standard for BCM called ISO 22301 was originally released in 2012. Although it is based on BS 25999, additional international BCM standards are also included. Similar to BS 25999, ISO 22301 offers instructions for businesses on how to set up and manage a BCM system. This includes how to carry out risk analyses, create business continuity plans, and carry out exercises to evaluate the viability of those plans. It offers a more thorough approach, though, and is used everywhere. The BCM systems of organisations can be developed and implemented using the frameworks provided by BS 25999 and ISO 22301. They can also be used to verify the efficacy of a BCM system. Organisations that have earned certification following one of these standards have proven that they have implemented the best BCM practices. That shows they are better equipped to manage interruptions and carry on with business in the case of an incident or crisis. Why Complete a BIA? It might not seem vital to spend the time and use up important resources on a BIA right now. Maybe you believe you already have one, but when was it finished? If your company hasn’t changed significantly, you might believe it isn’t necessary, not business-critical, or not a top priority. You might think that an audit is the only use for it. So, these are a few justifications for finishing a business impact report: · It provides a chance to examine business processes, their interrelationships, and the IT systems utilised in those processes. · You’ll be able to identify any flaws, such as the lack of data backup or the need for a few key employees who are the only ones with the necessary system knowledge. · You may see how various departments and groups interact and how that might be enhanced. You can learn how things are done. Work frequently follows the path of least resistance, but is this always the optimal course of action or is it simply how people perceive things to be done? · Plans for important IT and catastrophe recovery are examined to see if they can improve. Compliance with regulations is verified and validated. · It may be possible to eliminate fees for things that are no longer used, such as applications, insurance, and licenses. · The organisation’s pulse is measured to see whether there is a potential danger to the resilience of the business, and critical processes, functions, roles, and departments are identified. · You leave with a much better comprehension of the business risks and prospects for increased business success. Everyone has the chance to learn more about the company they work for. Additionally, individuals appreciate when management is interested in them, their role, and the dangers involved. Negative Results Of Business Disruptions Brand and Reputational Damage It can harm an organisation’s reputation, which can cause customers, partners, and other stakeholders to lose faith in and credibility with it. This may result in a decline in sales and difficult-to-repair brand damage. Reduced or Delayed Cashflow It can result in a decrease in revenue and an increase in expenses, which can hurt an organisation’s cash flow. This may make it challenging for a firm to fulfil its financial commitments, such as paying its employees and expenses, and may result in financial trouble. Lost Sales and Income Because clients would not be able to acquire goods or services or could decide to work with a rival, business disruptions can result in a loss of sales and income. This can majorly affect an organisation’s financial performance, which can be catastrophic for small enterprises. Increased Expenses and Overheads Costs associated with repairs and recovery activities are only two examples of how business disruptions can raise expenses. This may hurt an organisation’s cash flow and profitability and make it more challenging to bounce back from the trouble. Fines and Contractual Breaches If a company cannot fulfil its commitments under contracts or laws, business disruptions may result in fines and penalties. This has the potential to be expensive and harm an organisation’s reputation. Bad feelings and impact on the business culture and operating environment can also affect relationships with suppliers and other stakeholders, staff morale, and productivity. An organisation may find it difficult to bounce back from the interruption, which may negatively affect the operating environment and corporate culture. Structural Business Impact Disruptions Include 1. Natural catastrophes can cause damage to structures, rendering them unusable. 2. Failure of IT systems, manufacturing machinery, or transportation vehicles can cause operations to be disrupted. 3. Issues with the supplier: Delivery, quality, or availability issues for goods or services might cause operations to be disrupted. 4. Power outages can cause activities to be disrupted by making it difficult or impossible to use equipment and systems that depend on energy. 5. Data loss: Operations can be hampered by the loss of crucial data, including financial, customer, or inventory information. 6. Absenteeism among employees: Excessive absenteeism can cause operations to suffer, making it challenging to finish tasks and projects. Impacts That May Affect The Business Strategy Competitor action By altering the competitive environment and influencing consumer demand for a company’s goods or services, competitor activity, such as new product launches or pricing changes, can impact a company’s strategy. Failure in marketing A business’s strategy may be impacted by a marketing failure, such as an unsuccessful advertising campaign, which lowers the demand for the company’s goods or services. Product or service failure A product or service failure, such as a recall or a technical problem, can impact a company’s strategy by decreasing consumer satisfaction and faith in the company. Declining working culture A company’s strategy may be impacted by a deterioration in the working culture within the firm since it may lower staff morale and productivity, which may result in a drop in the calibre of goods and services. Declining working environment Employee dissatisfaction and productivity can be negatively impacted by a reduced working environment, such as inadequate facilities or equipment, which can affect a company’s strategy. Increased workload and stress levels Increasing staff productivity, motivation, and contentment can hurt a company’s strategy. New directors or managers with different values Changes in organisational direction brought about by hiring new directors or managers with different values can impact a company’s strategy, which can lower productivity by confusing and unsettling staff. Typical Phases Of A Business Impact Analysis Define And Agree To The Objectives And Scope Of The BIA This stage is essential for making sure the BIA is concentrated on the business areas that are most important to the organisation and that the analysis’s findings will be beneficial to it. Senior management agrees on the objectives and scope of the BIA Preparation Of Team This step entails selecting the people and organisations in charge of carrying out the study and ensuring they have the abilities, information, and resources required to do so successfully. Additionally, it’s crucial to make sure the team members are properly trained and equipped, including with the tools and information they need to conduct the BIA. Collect Relevant Data And Information The BIA lead or team gathers the needed data from the necessary staff members, systems, and outside sources. To ensure accountability, make sure senior leaders are participating. Consider listing the following information for each process under review: process name, process purpose, process inputs and outputs, process timings, participants, pertinent data, IT systems, and effects or contributions to the business on the legal, financial, reputational, and operational levels. Information Review And Analysis To determine the potential effects of disruptions on the business, this stage entails gathering, analysing, and evaluating data on the organisation and its crucial operations. The information is then examined to ascertain how various disruptions might impact the firm and its operations. In addition to evaluating potential threats to the organisation’s reputation, brand, and long-term viability, this can also include determining the possible effects of interruptions on revenue, costs, and other financial measurements. The team will also assess how various organisational components are interconnected and dependent on one another and how disturbances in one business area may impact other areas. Business Report Creation Create the BIA report with the team, evaluate it with the contributors, and distribute it to the appropriate senior leaders. This step entails writing information that includes suggestions for addressing identified risks and vulnerabilities and summarising the BIA’s findings. An executive summary, an explanation of the BIA methodology, a list of essential business operations and possible effects, a risk assessment, and a recovery plan might all be included in the report. Recommendations Review The team will consider various potential remedies throughout the recommendations assessment to address the noted risks and consequences. Examples of these solutions include implementing new practices, guidelines, or processes, acquiring new tools etc. The team will assess each solution’s viability, cost, and advantages while considering the organisation’s resources. Ongoing Review And BIA Maintenance The BIA should be periodically reviewed and updated to ensure that the data and suggestions are still valid and pertinent. This can be done regularly, such as once a year, or in reaction to adjustments made to the organisation’s activities, including the introduction of new goods or services, modifications made to the regulatory landscape, or adjustments made to the organisation’s risk profile. Critical Success Factors For A BIA · Senior management support: For a BIA to be successful, senior management must be committed and supportive. They must recognise its significance and be prepared to offer the resources and assistance required. · Clear objectives and scope: To ensure that the BIA is focused and pertinent to the organisation’s BCM program, it is crucial to identify its goals and scope explicitly. · Skilled and experienced team: A BIA needs a group of knowledgeable, experienced persons with the skills and information required to carry out the analysis successfully. · Accurate and relevant data: For the BIA process, accurate and pertinent data is crucial. Without it, the analysis will probably be flawed, and the suggestions might not work. · Communication and stakeholder engagement: To get information and input from key stakeholders, including employees, clients, and suppliers, effective communication and stakeholder engagement are crucial. · Maintenance and Regular review: A BIA should be reviewed and updated regularly to ensure the data and suggestions it provides are still accurate and useful. · Implementation and testing: This is essential to ensuring that the organisation is ready to respond to and recover from disruptions. Disaster Recovery Planning Once the BIA is finished, an emergency response plan can be developed. Time must be spent on disaster recovery planning once the processes, procedures, systems, and data are essential for the business’s continued operation after an otherwise terrible occurrence has been identified. For instance, it is important first to comprehend how a flood or fire would likely affect clients, employees, revenue, partners, and suppliers. A disaster recovery plan can be made to restore or safeguard crucial infrastructure, applications, and data after a significant outage to save downtime. Determining recovery time goals and recovery point objectives(RPO) is a crucial component of the disaster recovery plan. Recovery time targets describe how long it should take to resume regular business operations and the associated costs and effects on the company. Furthermore, recovery point objectives discuss the potential loss of data and its impact on the company. BIA and Risk assessment Both the Business Impact Analysis (BIA) and the Risk Assessment processes are crucial in identifying and assessing potential effects on a business. They do, however, have some glaring parallels and divergences. Similarities · Identification and evaluation of potential effects on an organisation are made using BIA and risk assessment. · It is necessary to identify crucial business functions and their connections for BIA and risk assessments. · Evaluating potential effects and likelihood of occurrence is a component of both BIA and risk assessment. · Plans for mitigation and recovery are created using both BIA and risk assessment. Differences between the BIA and Risk assessment · Risk Assessment focuses on determining the likelihood and potential severity of a disruption, while BIA focuses on assessing the impact of an upset on the company. · While Risk Assessment focuses on locating potential sources of disruptions and the possibility that they will occur, BIA concentrates on finding essential business operations and their interdependence. · BIA determines the impact of disorders on the company, while Risk Assessment assesses the likelihood and potential severity of disruptions. · While Risk Assessment is used to discover and assess potential risks and vulnerabilities in the company, BIA is used to create mitigation and recovery plans to deal with the effects of disruptions. Common Challenges With Business Analysis Impact The process of doing a business impact analysis (BIA) can be difficult and complex, and there are many problems that firms frequently run into. These difficulties include: Difficulty identifying critical functions Finding the tasks that are essential to the ongoing running of the business is one of the major problems of a BIA. This can be challenging since different departments or functions within an organisation may have different viewpoints on what constitutes a critical function. Assessing a function’s criticality might be an arbitrary procedure. Lack of data Lack of data and knowledge is another frequent issue. It can be challenging to analyse the possible effects of disruptions on the business effectively and to make well-informed decisions about mitigating those consequences without precise and pertinent data. Limited alignment with organisational goals Activities related to business analysis could not necessarily align with the organisation’s broader aims and objectives, which would have an unreasonable impact. Difficulty in communicating the impact Business analysts could have trouble explaining to stakeholders how their actions would affect them, which could result in a lack of understanding and support. Limited collaboration and communication Business analysts could not have the requisite stakeholder collaboration and communication skills, which would restrict their impact. Limited knowledge and abilities Business analysts may lack the information and skills needed to conduct business analysis operations efficiently, which will have little impact. Limited time Business analysts might only have a short amount of time to accomplish business analysis tasks, which could affect the deliverables’ accuracy and thoroughness. Conclusion BIA can assist firms in creating efficient mitigation and recovery plans that lessen the effects of disruptions and help preserve operational continuity by recognising potential risks and vulnerabilities. As a result, businesses can lower their environmental impact and increase the sustainability of their operations. This enhances people’s lives by maintaining access to basic services, and secure the world’s future by minimising disruptions’ effects on the global economy and society. The entire health of the earth and society can be improved by organisations becoming more resilient, sustainable, and proactive in managing risks with the aid of BIA. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Grow your market share and business with expert business coaching, tailored to the kitchen and bathroom showroom and installer industry. Business Coaching for Kitchen and Bathroom Showrooms and Installers Grow your market share and business with expert business coaching, tailored to the kitchen and bathroom showroom and installers industry. Our Kitchen and Bathroom Showroom and Installers business improvement programme can help your company grow your market share and increase your revenue through driving business productivity. Whatever the size of your business, we can help. Kitchen and Bathroom Showrooms Business Improvement Programme Our business improvement programme coaches help your business figure out how to do what you do already better. They’ll assess where you’re already succeeding and look at where you can improve using our unique business productivity solutions and tools. Overall, they’ll help you resolve any roadblocks to success, permanently. We know that what sets your business apart from the next competitor is outstanding customer service alongside operational excellence. That’s why one of our main focuses is helping you perfect your customer service interactions so every single one of your clients has a great experience. Sales and Service Training for Kitchen and Bathroom Businesses Sales and service training for Kitchen and Bathroom Businesses enhances phone etiquette , ensuring professional and informative customer interactions. This boosts client satisfaction and trust, leading to increased appointments and sales. Clear communication about design options, pricing, and services offered creates customer loyalty and referrals, driving business growth and success. Operational Excellence for Kitchen and Bathroom Showrooms Long-term business success in your industry is dependent on your operational excellence, great products and customer service. If you’re lacking any, your business will face challenges ahead. Your employees are integral to the success of your business. They turn shoppers and queries into sales, as well as ensuring all potential clients have a memorable and positive experience with your business. This is why we believe in reversing the traditional organisational pyramid of command and control to empower your employees. This empowerment allows your employees’ ideas and innovations to power your business, allowing it to thrive. As part of your business productivity plan, we’ll set your business clear, tangible goals and deliverables. We’ll bring consistency to your service and brand to ensure you maximise every interaction you have with customers. What Our Kitchen and Bathroom Business Coaching Delivers: Improved business efficiency Increased profitability Better competitive advantage More motivated, engaged employees A positive work culture Consistently exceptional customer service Get in Touch Tell us about a challenge or question you have. First name* Last name* Company name Email* Submit

Your Ikigai is the intersection between what you are good at, what you love, and what you value. What is Ikigai and how can Ikigai Improve Your Life? You can define your Ikigai as the intersection between what you are good at, what you love, and what you value. When all three of these factors align and are congruent, you will likely have discovered your Ikigai. Published on: 1 May 2025 Is it possible to find your zone of brilliance using Ikigai? How do we use Ikigai to create a life where we’re firing on all cylinders? Even more important, can we get paid to live passionately in that state of brilliance? What is Ikigai? In some parts of the world, the average lifespan is longer than in others. In his research, Dan Buettner dubbed these regions “Blue Zones.” Japan and Okinawa, in particular, are such regions. The key to maintaining health and vitality among Okinawa residents is having a ‘goal’ in life: Ikigai. ‘Ikigai’ is a Japanese concept combining the terms iki, which means “life,” and gai, which means “benefit.” Besides eating habits (including green tea) and living environment, this Japanese concept is essential for ageing healthily and living long and happy. While going through a difficult time, your ‘Ikigai’ keeps you looking forward to the future. But Ikigai is more that just finding your zone of brilliance, your venn-diagram of purpose, it’s about feeling a part of your community. It’s knowing that your work, your life every day isn’t just helping you but the wider community that you are a part of. History of Ikigai Ikigai means your ‘reason for being.’ Your Ikigai is your life purpose or bliss. It brings you joy and inspires you to get out of bed daily. Hasegawa believes that the word Ikigai originates from the Heian period (794-1185). “Gai comes from the word kai, which means shell in Japanese. From there, it evolved into the word Ikigai, which means value in living.” Okinawa is a Japanese island south of the mainland. The island has the world’s highest proportion of people over 100 years old, and Ikigai plays a significant role in Okinawan culture. In 2009, Dan Buettner gave a TED Talk about his research on the Blue Zones—this officially catapulted Ikigai into mainstream popularity. “Japanese dictionaries define Ikigai in such terms as Ikiru Hariri, yorokobi, meate (something to live for, the joy and goal of living) and ikite iru dake no neuchi, ikite inu kōfuku, rieki (a life worth living, the happiness and benefit of being alive). A life without Ikigai lacks passion, purpose, usefulness, and fulfilment. Can we put that off until tomorrow? Whenever you live a life of purpose, you wake up happy and excited to be alive. What’s your honest assessment; do you bounce out of bed each morning? Did you sleep the night before feeling at ease and grateful? Why is Ikigai so relevant in today’s world? The West identifies our passions as what we love to do, while Ikigai also emphasizes doing something we love within a group and fulfilling a role that benefits that group. For example, A fisherman’s Ikigai might be to hone his craft so that he can help successfully feed his family. In some cases, an Ikigai may be the gift of wisdom that a grandmother imparts to the young generation, whereas for other people, it might be directing the church choir every week. Ikigai is sometimes compared to happiness in the West, but they are not the same. As opposed to finding happiness in some final goal that promises bliss, ikigai refers to finding happiness in daily activities. The concept encompasses finding meaning in the smallest things in life. An individual’s Ikigai gives them a reason to live even when they are miserable at the moment. Victor Frankl wrote about this in his epic book, ‘Man’s Search For Meaning.’ In other words, one can still experience their Ikigai during times of hardship or suffering. It fosters resilience. Look around you, and you’ll notice that everyone is running behind something. Someone’s running behind money, someone’s running behind a materialistic lifestyle, someone’s running behind toxic relationships, and the list goes on. But is anyone truly happy? Are you happy and satisfied even if you have all the riches you desire? The answer for most of us is a no, and that’s the sad reality. Stress doesn’t end there. Many people in the country put in long hours at the office, governed by strict hierarchical rules. Overwork is common, and the last trains home on weekdays around midnight are always crowded with suit-clad commuters. As soon as we reach our goals, we start to chase something new. The more we focus on staying busy, the more we stop giving time to ourselves and the people around us. This applies to every aspect of our professional and personal life. But how do they manage everything? This may be a result of what the Japanese call Ikigai. How do you prepare yourself for Ikigai? Preparing yourself for Ikigai means you shape your mind and vision of the world & life itself so that it’s conducive to adopting Ikigai. You don’t want to be “pearls before swine,” so you reject the amazing results Ikigai’s influence could provide. Do you think you can offer something special? Do you think it’s OK to get paid for providing a service? Do you know what life is like when you’re always “going with the flow?” Do you care to live your life on a mission? Ikigai is about firing on all cylinders. It’s like being high all the time. You have so much energy and no brain pain surrounding your daily activities. You’re in the mood to squeeze and crush everything about life. Ikigai is about being efficient. You’ve lived an entire life up until now, and there’s no use in throwing it away. Ikigai is about utilising everything you’ve acquired up until now in your favour. The skills, ideas, mindsets, inventions, goals, and accomplishments that are already a part of your life can be mastered for your happiness and utilised for the benefit of others. What can your Ikigai help you to do? Design your ideal work lifestyle Build strong social connections at work Maintain a healthy work-life balance Pursue your career dreams M ake work enjoyable When you know your Ikigai and understand its meaning, you’re aligned with the work you’ve longed to do and the work the world needs you to do. What brings you Ikigai? Meiko Kamiya did not just popularize Ikigai in Japan. Several researchers (including professor Hasegawa) have used her findings to try and understand the true meaning of Ikigai. In Kamiya’s works, she argues that each person has a specific focus for their Ikigai. It can be related to the past, present, or future, and it can include a variety of things, such as: Observations Memories Well-being Interests Friends and family Social responsibilities Events in the future Intuition A person’s Ikigai can be fueled by any of these, leading to several positive feelings of life satisfaction: Realization of one’s self and willingness to live Fulfilment in every aspect of life The desire to live The feeling of being alive A feeling of control We call these feelings Ikigai-kan. In the West, we’re often driven by similar motivational forces that we’re not always aware of. It is common in Japanese culture to connect happiness and well-being to the Ikigai, finding meaning and staying strong in the face of stressful everyday situations. Often, the Japanese can be credited with their endurance, discipline, and determination based on their self-defined Ikigai. How do you find your Ikigai? You can define your Ikigai as the intersection between what you are good at, what you love, and what you value. When all three of these factors align and are congruent, you will likely have discovered your Ikigai. Try to recall when you lost track of time while doing something and forgot to eat lunch or dinner because you were so engrossed in it. It is commonly referred to as being in the “flow.” When you focus on tasks that seem to “flow” to you, you are more likely to discover your Ikigai and deepen your connection to it. Life will become more meaningful and enjoyable for you. Having identified your meaningful tasks, you must then take the additional step of incorporating more of them into your life. It won’t just happen on its own; it requires you to take action. As part of this process, you should also eliminate some things you are not good at or prefer not to do. This does not mean you should eliminate all the things you don’t like (for example, some people don’t like brushing their teeth, but they have to do it). However, it does reduce the number of meaningless tasks. Delegating these “meaningless” tasks to others allows people to devote more time to their Ikigai. When you identify your Ikigai, you will be able to see the bigger picture and approach even mundane tasks with more purpose. Researching and writing blogs are very meaningful to me. When researching for a new podcast, I often experience “flow” and lose track of time. However, I have also learned that writing a script, proofreading it, and cross-checking the facts are necessary to record an episode that my listeners like and can benefit from. But, these necessarily are not my favourite things to do. Identifying your Ikigai can not only help you live a more fulfilling and meaningful life but also help you live longer and healthier. It makes sense when you think about it: a person is more likely to get up in the morning with vigour if he knows he will get better at his job, be happier, and make a difference in the world. You are more likely to take better care of your health if you have a sense of purpose in life. In his 2017 book, The Little Book of Ikigai: The Essential Japanese Way to Finding Your Purpose in Life, Tokyo-based neuroscientist, writer, and broadcaster Ken Mogi argues that no matter what you do, whether you’re a cleanser on the Shinkansen bullet train, a mom of a newborn or a Michelin-starred sushi chef if you find joy and satisfaction in what you do and are good at it, you’ve found your Ikigai.” If you feel like you’re struggling, Garcia suggests you “gain awareness of the current status of your life.” Do this to find your Ikigai Make a list of the top 10 things you have done this week. After writing them down, ask yourself if those things add purpose to your life. You can subdivide it by asking yourself four questions: Is it something that I love doing? Is it something the world needs? Is it something I’m good at? Is it something I can get paid for? If it’s not something you can get paid for, is it something you can get paid for as a good trade-off for financially supporting your Ikigai? If this all feels too cemented, and you have trouble committing, don’t sweat it. Research has uncovered that just like music, taste, fashion, and opinions, a person’s Ikigai can change and morph with age, so chances are they need a semi-regular checkup. Maybe in the second half of 2022, you’ll spend time refocusing the goals you’ve been ignoring and embracing the larger picture: Finding your Ikigai. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Business coaching for plumbers. Tailored strategies for your unique industry to grow your market share. Business Coaching for Plumbing Companies Stay ahead of the competition with business coaching for plumbers and plumbing companies. Our business operating system for plumbers will help you grow your market share locally through running your business more productively and efficiently. Plumbing Companies Business Coaching Our business operating system improves your business productivity. We won’t want to change what you do, but perfect it. Happy customers are the key to a successful plumbing business. Your interactions with your customers are the key to your success so you maintain a great reputation for new customers as well as a great customer retention rate. This is why we put a strong focus on strengthening your customer interactions through operational excellence. We ensure that every one of your customers has a positive experience with you, every time. Sales and Service Training for Plumbing Companies Sales and service training for plumbing companies enhances phone interactions , ensuring professionalism and efficiency. This boosts customer satisfaction, secures more service appointments, builds trust, and fosters long-term client relationships, driving business growth. Operational Excellence for Plumbing Companies Whether you’re an independent plumber or a larger plumbing company, you’ll need great customer service, skill and operational excellence to achieve long-term growth and profitability for your business. Without any of them, your business will struggle to thrive long-term. We believe the success of every business comes down to its staff members and their interactions with employees. This is why as part of our coaching, we implement a better organisational structure. Our structure empowers staff, allowing them to share their innovations and ideas that can help your business thrive. It will also increase positivity across your business, driving more positive customer interactions. Our plumbing companies business productivity plan helps you set clear goals. We’ll bring consistency to your brand and business so you deliver outstanding service, every time. What Our Business Coaching For Plumbing Companies Delivers Increased market share Increased profitability Better working culture Improved employee engagement Improved efficiency Enhanced customer relationships Get in Touch Tell us about a challenge or question you have. First name* Last name* Company name Email* Submit

Discover everything you need to know about Standard Operating Procedures (SOPs). Learn expert tips for creating, implementing, and managing SOPs that streamline operations, ensure compliance, and enhance efficiency across industries. Includes SOP templates, case studies, and best practices. The Ultimate Guide to Standard Operating Procedures (SOPs): How to Create, Implement, and Optimise SOPs for Business Success Mastering Standard Operating Procedures (SOPs): A Comprehensive Step-by-Step Guide to Streamlining Processes, Ensuring Compliance, and Boosting Operational Efficiency Standard Operating Procedures (SOPs) are a critical tool for ensuring consistency, quality, and efficiency in business processes. Whether you’re in manufacturing, healthcare, IT, or service industries, SOPs help standardise operations, improve compliance, and reduce risk. Introduction to Standard Operating Procedures (SOPs) What are Standard Operating Procedures (SOPs)? A Standard Operating Procedure (SOP) is a formal document that outlines the specific instructions necessary to carry out a task or process consistently and efficiently within an organisation. SOPs are designed to standardise operations, improve quality control, and ensure compliance with both internal and external regulatory requirements. SOPs are especially critical in industries where process integrity, safety, and precision are of paramount importance, such as healthcare, manufacturing, pharmaceuticals, and financial services. SOPs ensure that all employees follow a uniform process when executing a particular task, which helps mitigate errors, improves training, and provides a reference guide for troubleshooting. The document not only describes the "how" but also frequently includes the "why" to ensure employees understand the rationale behind each step. Why are SOPs Important? SOPs are fundamental to ensuring business continuity and operational excellence. Here are several reasons why SOPs are critical: 1. Consistency and Repeatability SOPs provide step-by-step instructions for completing tasks, which ensures consistency across all staff members and shifts. This repeatability is key to maintaining high-quality standards across different locations or departments, especially in multi-site or international operations. When tasks are completed consistently, organisations benefit from process optimisation , reducing variability and improving overall performance. 2. Regulatory Compliance In many industries, adherence to regulatory standards (e.g., ISO 9001 , FDA , OSHA , or GMP ) is non-negotiable. SOPs serve as the backbone for compliance efforts by ensuring that each step adheres to the required standards. Failing to follow prescribed procedures can result in costly fines, legal liability, or reputational damage. SOPs are often reviewed during audits and inspections to verify that employees are following the correct procedures, making them indispensable for risk management. 3. Training and Onboarding SOPs provide a crucial resource for training new employees or retraining existing staff. Instead of relying on inconsistent verbal instructions, managers and trainers can refer to a well-documented SOP to ensure that all team members are trained uniformly. This is particularly important in industries with high staff turnover or where complex technical skills are required. With SOPs in place, new employees can ramp up more quickly, reducing the overall training time and costs while minimising errors in the learning process. 4. Quality Assurance By enforcing uniform processes, SOPs help maintain quality control and ensure that products or services meet customer expectations. Quality assurance systems, such as Total Quality Management (TQM) or Six Sigma , often rely on SOPs as part of their continuous improvement programs. Any deviation from standard procedures can result in poor-quality outputs or customer dissatisfaction. SOPs thus become critical in maintaining product or service consistency and in identifying areas where improvements can be made. 5. Health, Safety, and Environmental Protection In industries like manufacturing, chemicals, or healthcare, SOPs are essential for safety management and protecting employees from hazards. They provide detailed safety instructions, including the use of personal protective equipment (PPE), emergency procedures, and incident response protocols. Ensuring that employees follow these procedures reduces the risk of workplace accidents, health hazards, and environmental damage. SOPs aligned with OSHA or ISO 14001 standards provide organisations with an added layer of protection in maintaining a safe working environment and managing their environmental impact. 6. Risk Mitigation SOPs help mitigate operational risk by ensuring that processes are followed as intended, reducing human errors, equipment malfunctions, and unexpected downtime. In industries like finance, deviations from established procedures can lead to significant financial losses, regulatory penalties, or even fraud. SOPs act as internal controls , ensuring that tasks are completed according to the company's risk management framework and organisational best practices. 7. Process Improvement SOPs are the foundation for identifying inefficiencies or areas that can be improved in a process. When followed consistently, they provide measurable data that can be used to assess process performance . Continuous improvement frameworks like Lean and Kaizen often start by reviewing existing SOPs to identify bottlenecks, redundant steps, or opportunities to enhance productivity. Once identified, the SOP can be revised, ensuring that the process remains aligned with current business goals and standards. SOP vs. Policies vs. Procedures Understanding the difference between policies , procedures , and SOPs is crucial, as these terms are often mistakenly used interchangeably. Each serves a unique purpose within the organisational framework, and clear distinctions help in structuring documents appropriately. Policy A policy is a high-level document that provides a set of principles or rules designed to guide decision-making. Policies are typically broad and provide the “what” and “why” , such as an organisation's commitment to environmental sustainability or data privacy. Policies offer general guidelines without detailing the specific steps involved in daily operations. Procedure A procedure is more detailed than a policy but less granular than an SOP. Procedures outline the general process or workflow that needs to be followed to comply with a policy. For instance, a company's data security procedure may outline steps to protect sensitive information but not specify the exact configurations needed for different systems. Standard Operating Procedure (SOP) An SOP focuses on “how” specific tasks or processes are performed. It provides detailed, step-by-step instructions that employees must follow to complete a task correctly. SOPs are designed to ensure repeatability and standardisation, helping to enforce compliance with policies and procedures. Unlike procedures, SOPs usually include detailed technical instructions, required tools, safety precautions, and troubleshooting steps. By clearly defining each document's purpose, an organisation can maintain a well-structured and easy-to-follow operational framework. How SOPs Align with Business Strategy Beyond their operational benefits, SOPs play a vital role in supporting the strategic goals of an organisation. Whether the objective is to scale operations, improve customer satisfaction, or ensure regulatory compliance, SOPs provide the infrastructure to achieve these goals. Scalability : As businesses grow, processes that may have been informal or handled on a case-by-case basis can become inefficient or chaotic. SOPs allow companies to scale operations smoothly by formalising these processes and ensuring that new team members or locations follow the same standards. Customer Satisfaction : Consistency in service delivery is key to customer retention and satisfaction. SOPs ensure that customers receive the same quality of product or service, no matter who handles their order or where it's delivered. Innovation and Change Management : Even in innovation-focused businesses, SOPs have a role to play. They create a baseline that allows companies to measure the impact of new innovations, ensuring that improvements are built on a foundation of standardised operations. When introducing new technology or methodologies, SOPs provide the starting point for implementing change management strategies. By thoroughly understanding and leveraging SOPs, organisations can drive efficiency , compliance , and quality control at every level of their operations. Whether you are a business leader looking to optimise processes or an employee striving for consistent performance, SOPs are a fundamental tool for maintaining operational excellence. See also: How to Write an Effective Standard Operating Procedure (SOP) for Operational Consistency and Compliance The Critical Components of a Well-Structured SOP When to Use Standard Operating Procedures (SOPs) for Maximum Business Efficiency and Compliance SOP Implementation: Ensuring Adoption and Compliance for Operational Success Managing and Updating Standard Operating Procedures (SOPs) for Long-Term Success Ensuring SOP Effectiveness: Monitoring, Improvement, and Optimisation for Operational Excellence Tools for SOP Management: Streamlining Processes with Digital Solutions Common Mistakes in SOPs: How to Create Clear and Effective Procedures Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Regenerative Business Execution: A Path to Sustainable Success Regenerative Business Execution: A Path to Sustainable Success Regenerative business execution prioritises sustainability, social responsibility, and stakeholder well-being. It seeks to create positive impacts on the environment, society, and the economy while maintaining profitability. This approach fosters resilience, innovation, and a lasting legacy, making it a transformative model for 21st-century businesses. Published on: 1 Feb 2024 In today’s rapidly changing global landscape, businesses face unprecedented challenges and opportunities. The traditional approach to business execution, focused solely on profit maximisation, is no longer sufficient. In response to growing environmental, social, and economic concerns, a new paradigm is emerging: regenerative business execution. This approach seeks to create businesses that not only thrive financially but also contribute positively to the environment, society, and the well-being of all stakeholders. In this article, we will explore the concept of regenerative business execution, its principles, benefits, and practical strategies to implement it effectively. Understanding Regenerative Business Execution Regenerative business execution is a holistic approach to running organisations that emphasises the restoration, renewal, and enhancement of natural and social systems. It goes beyond the traditional profit-centric model, taking into account the long-term well-being of the planet, communities, and employees. At its core, regenerative business execution strives to create a positive impact on the environment, society, and the economy while simultaneously generating sustainable profits. Key Principles of Regenerative Business Execution Environmental Stewardship Regenerative businesses prioritise environmental sustainability by reducing their carbon footprint, conserving resources, and promoting biodiversity. They view the natural world not as a resource to be exploited but as a partner to be nurtured. Social Equity These businesses foster inclusivity, diversity, and equitable practices within their organisations and supply chains. They aim to create a fair and just society where all stakeholders, regardless of their background, have equal opportunities. Stakeholder-Centered Regenerative businesses recognise that their success depends on the well-being of all stakeholders, including customers, employees, suppliers, and communities. They engage in open and transparent dialogue with these groups to build trust and mutual understanding. Long-Term Perspective Instead of focusing solely on short-term profits, regenerative business execution emphasises long-term sustainability. It seeks to create lasting value for all stakeholders by making strategic decisions that benefit the organisation and society as a whole. Innovation and Adaptation Regenerative businesses are open to innovation and adaptability. They continuously seek new ways to improve their products, services, and processes, aligning them with regenerative principles. Benefits of Regenerative Business Execution Enhanced Reputation Businesses that embrace regenerative practices build strong reputations as responsible corporate citisens. This not only attracts socially conscious customers but also helps in attracting top talent and favorable partnerships. Competitive Advantage Regenerative businesses often outperform competitors by responding more effectively to changing market demands and environmental regulations. They can adapt quicker to emerging trends and customer preferences. Resilience The focus on long-term sustainability and adaptability makes regenerative businesses more resilient to economic downturns and crises. They are better equipped to weather unexpected challenges and disruptions. Attraction and Retention of Talent Employees increasingly seek workplaces that align with their values. Regenerative businesses tend to attract and retain top talent who are passionate about contributing to a positive impact on the world. Positive Impact Perhaps the most significant benefit is the positive impact regenerative businesses have on the environment and society. They help address pressing issues such as climate change, inequality, and resource depletion. Practical Strategies for Regenerative Business Execution Business Sustainability Plan Many organisations are recognising the importance of integrating sustainability into their operations, and a business plan for sustainability is becoming a key tool in this transformative journey. Sustainability Goals and Metrics Set clear and measurable sustainability goals aligned with the principles of regenerative business execution. Monitor progress regularly and report transparently to stakeholders. Circular Economy Practices Embrace circular economy principles by reducing waste, recycling materials, and designing products and processes for longevity and reusability. Stakeholder Engagement Actively engage with all stakeholders, seeking their input and feedback. Create a culture of trust and collaboration that fosters innovation and shared value creation. Ethical Sourcing and Supply Chain Ensure that your supply chain adheres to ethical and sustainable practices. This includes fair labor conditions, responsible sourcing of materials, and reducing the environmental impact of transportation. Employee Well-Being Prioritise the well-being of your employees by offering fair wages, a safe and inclusive workplace, and opportunities for growth and development. Community Involvement Invest in the communities where your business operates. Support local initiatives, contribute to economic development, and engage in philanthropic activities. Continuous Learning and Innovation Encourage a culture of continuous learning and innovation within your organisation. Experiment with new sustainable technologies and business models that align with regenerative principles. Transparency and Accountability Be transparent about your progress, successes, and challenges in implementing regenerative practices. Hold yourself accountable and seek external verification of your sustainability efforts. Case Studies in Regenerative Business Execution Patagonia Patagonia, the outdoor clothing company, has been a pioneer in regenerative business execution. They actively promote environmental conservation, responsible sourcing, and activism for social and environmental causes. Patagonia’s commitment to sustainability has strengthened its brand and customer loyalty. Interface Interface, a global modular flooring company, has set ambitious sustainability goals, including Mission Zero – their commitment to eliminating any negative impact on the environment by 2020. They have made substantial progress in reducing carbon emissions and waste while increasing the use of recycled materials in their products. Unilever Unilever, one of the world’s largest consumer goods companies, has integrated sustainability into its core business strategy. They’ve adopted the Sustainable Living Plan, which focuses on reducing their environmental footprint and improving the well-being of billions of people through their products. Danone Danone, a multinational food-products corporation, has adopted a dual mission of delivering financial performance and social and environmental sustainability. They are dedicated to providing healthier food options and reducing their environmental impact through their “One Planet. One Health” framework. Challenges and Barriers to Regenerative Business Execution While the benefits of regenerative business execution are clear, several challenges and barriers exist: Short-Term Profit Pressures Many businesses prioritise short-term profits over long-term sustainability, making it difficult to invest in regenerative practices. Lack of Awareness and Education Some organisations may not fully understand the principles and benefits of regenerative business execution, hindering their adoption of these practices. Resistance to Change Implementing regenerative practices often requires significant changes in operations, which can be met with resistance from employees and management. Regulatory Hurdles Some industries face regulatory barriers that discourage sustainability initiatives or do not adequately reward regenerative practices. Resource Constraints Smaller businesses may struggle to allocate resources to sustainability efforts, especially if they lack access to affordable sustainable technologies and practices. Conclusion Regenerative business execution represents a paradigm shift in the way we think about and operate businesses. It challenges the traditional profit-centric model and encourages organisations to adopt a holistic approach that benefits the environment, society, and all stakeholders. While the path to becoming a regenerative business may be challenging, the benefits are numerous, including enhanced reputation, competitive advantage, resilience, and a positive impact on the world. As businesses continue to evolve in the face of global challenges, regenerative business execution provides a roadmap for success that not only sustains profitability but also contributes to a more sustainable and equitable future for all. It is a call to action for businesses to take responsibility for their impact on the world and actively work towards a regenerative and thriving future. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

The Fourth Industrial Revolution is an exciting time for business and an opportunity for huge economic growth. What Is The Fourth Industrial Revolution? The Fourth Industrial Revolution is an exciting time for business and an opportunity for huge economic growth. The world is advancing rapidly as new technology fundamentally changes the way we live, work and interact with those around us. The Fourth Industrial Revolution (also known as 4IR or Industry 4.0) was a term coined by Klaus Schwab , Founder and Executive Chairman of the World Economic Forum, in 2015 to signal this new digital revolution. This new age is characterised by technological breakthroughs in many areas which blurs the distinct lines between the physical, digital and biological worlds. The Fourth Industrial Revolution goes far beyond the basic computer technology that was invented in the 20th century. Advances in areas such as automation, robotics and big data are occurring at an unprecedented rate. It is time to recognise that these technologies are reshaping every sector as old industries transform and new ones are created. The world has witnessed three previous major industrial revolutions which have harnessed emerging technology to change the way we live and work. The First Industrial Revolution used steam and water to mechanise industry. The second witnessed the invention of electricity and mass production. And, the third was the age of computers and information. What is the impact of the Fourth Industrial Revolution? The aim of any technological advancement is to improve society and make our everyday needs easier to meet. As Klaus Schwab says, ‘the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world.” Increased Business Productivity Productivity in the UK has been experiencing a period of poor growth for several decades now, yet it is vital to business survival and overall economic success. Bored employees lack enthusiasm for their role and are more likely to suffer from low levels of productivity. We have already adopted the use of computers and machines to replace some of dull and monotonous aspects of our working life. The use of advanced AI and automation technologies in the future should allow even more independence from mundane tasks as these technologies streamline and perform these processes on our behalf. This, in theory, gives humans more time for creativity, innovation and problem solving in the workplace, allowing for future business growth and happier, motivated staff. Improved Customer Service In the 21st century we are used to having immediate answers to our problems. We simply open an app and, more often than not, it solves our issue then and there. When it comes to goods and services we expect a similar response, the emergence of chatbots allows customers to resolve queries quickly and efficiently 24 hours a day. Other forms of technology can analyse your customer service and provide suggestions for improvement. With access to data and algorithms companies can tailor adverts to their customer’s specific needs and wants, ensuring they are in front of the right people at the right time. This not only allows for more sales but increased customer satisfaction as their problem is solved easily. Flexible Working Opportunities Long gone are the days of needing to be sat in the office 9-5. Remote communication and collaboration tools, particularly accelerated by Covid-19, have opened doors to new ways of working. Staff are able to have a better work/life balance as they avoid long commutes on overcrowded trains and the rigidity of set hours. This encourages greater productivity as staff feel less stressed and can adapt their working day to suit their needs. In fact, A report from Peldon Rose, “The Office of the Future”, found that 35% of business leaders felt that workplace productivity had improved during the pandemic. Better Recruitment AI tools can effectively pre-screen candidates for interview as it matches their skills and qualities to those required, saving HR hours of sifting through CVs. It can also be used in interviews to avoid human bias.Advanced online connectivity also enables businesses to secure the best employee for the job, regardless of whether they are located half way across the country or the world. How do you respond to the fourth industrial revolution? The Fourth Industrial Revolution is an exciting time for business and an opportunity for huge economic growth. However, a survey conducted by Deloitte in 2018 found that only 14% of business executives are highly confident that their organisations are ready to fully harness the changes associated with Industry 4.0. Invest in new technology To stay ahead of your competitors, you will need to keep up with technological advancements and invest in the best tools to optimise your industry. Improve workforce skills Do your current employees possess the skills needed to incorporate the emerging technologies into their role? It is essential to consider whether you need to provide specific training to your team or hire additional staff with these skills. How will the fourth industrial revolution affect the job market? It is concerning to think our jobs may be taken away by a robot or competition increased by global recruitment opportunities. Many jobs of the past have been completely eradicated or fundamentally changed and children are learning new skills for the future such as coding and app development. The World Economic Forum, The Future of Jobs report 2020 estimates that by 2025, 85 million jobs may be displaced by a shift in the division of labour between humans and machines. However, 97 million new roles may emerge that make use of the new abilities afforded us by robots and algorithms. What are some of the challenges of the Fourth Industrial Revolution? The Fourth Industrial Revolution is an exciting time, bringing about unprecedented change. But, whilst revolutions offer great benefits, they do not come without their significant drawbacks. If we shape our future growth wholly around AI and robotics we risk dehumanising people and questioning our place on the planet. Humans possess vital empathetic and innovation skills that AI lacks. We risk a generation of workers who now lack purpose and ambition, someone who has 30 years of experience on a production line may suddenly feel unskilled and underqualified for the job market. This new technology is astounding but unfortunately, that means it comes with a high price tag. Therefore, it can risk further widening the gap of inequality between both people and nations who can and cannot afford to invest in the technology. AI, robotics and genetic engineering all have great possibilities but they can also be used for destructive purposes. There are implications for data security – the amount of data that is now being shared online is at risk of being hacked and our privacy violated. The role of digitisation in The Fourth Industrial Revolution Industries are always advancing and adopting new technologies to work more efficiently. The use of these new technologies can help boost innovation, speed, production and react faster to market demands to name just a few. Nine big advances in technology that are driving Industry 4.0 are: The Industrial Internet of Things Autonomous Robots Simulation Augmented Reality Big Data Analytics Cybersecurity Horizontal and Vertical System Integration The Cloud Additive Manufacturing The Industrial Internet of Things The Industrial Internet of Things refers to using the internet to connect all parts of a business. This allows machine to machine communication. We’re seeing it implemented most in factories, where machines communicate with each other through wi-fi to do things like monitor, collect, exchange and analyse data. These insights are then used to drive better business decisions. Autonomous Robots Autonomous robots have been around a while. In fact, the first one was made all the way back in 1948. But as the technology driving them has advanced, autonomous robots offer new opportunities and capabilities for businesses. Most obviously, they can work faster. But they can also work smarter. They can interact with each other (through the Industrial Internet of Things) and adjust their actions from this data. So for example, old autonomous robots have mainly been used in mass production, which is very helpful. However, if a product was produced incorrectly, autonomous robots would just continue production until a human noticed the error and the company is stuck with the mass produced incorrect product. Whereas new technology autonomous robots are able to recognise errors or mistakes and communicate it to other machines. Simulation Engineers have used simulations for a long time now. But this technology is only just expanding to industry. There are many possible uses for simulations. From having a digital copy of a real product they can test to using simulations of entire factories to test new ways of working, the possibilities are vast. Augmented Reality Augmented reality, or AR, is a new technology comparatively to most. It’s most commonly known throughout the gaming industry with popular games like Pokemon Go using this technology to create new, interactive experiences for users. But it also has great use in businesses. For example, selecting parts in a warehouse using robotics. The possibilities are plentiful for each unique industry. Big Data Analytics Big data analytics is probably the most well-known technology of Industry 4.0. This technology refers to a machine that can gather information and data to create correlations, trends and more. A great example of this is Google Ads. They’ve been increasingly moving towards what they call “smart shopping” ads, where everything from bids to keywords are automated. While cynical marketers see this as a move for Google to gain more ad revenue, the reality is their machine learning can process far more data than a human. So what might take a person weeks to analyse and action, takes the machine mere moments. Big data analytics can give businesses useful insights into internal and external operations, to help them make smarter business decisions. Cybersecurity Cybersecurity isn’t a new technology by any means. All businesses should be aware of it by now. But as these technologies expand and as we increasingly move towards a digital landscape, cybersecurity must keep up. Horizontal and Vertical System Integration This technology is mainly used in smart factories, but that isn’t to say it couldn’t have possible uses in other industries as time goes on. We’ll break it down to explain it’s current use. Horizontal integration refers to the networking of machines and systems within a manufacturing line. While vertical integration refers to the process of connecting all levels of production. So this connects the information gathered at each level through horizontal integration to every level of business and even suppliers or customers. A good example of this is the food industry. There are many quality standards that need to be met and these need to be checked at every level. Horizontal integration can be used to ensure all machines on the manufacturing line have met a given standard and vertical integration can be used to share that information with all relevant parties. It saves the employees involved a lot of time checking, and double-checking, as the information is shared with all relevant parties immediately. The Cloud You’ve probably already heard of the cloud. Simply put, it’s things you can access remotely over the internet. A great example of this is Google Drive. This is a cloud-based storage system. Many companies and employees use it as they can increasingly access shared information, anywhere. Cloud sharing has big implications for industries. Instead of endless email chains sharing information, new processes can be created so that information is readily available for all relevant parties. Additive Manufacturing Additive manufacturing is an exciting technology that we’ve barely scratched the surface of. It refers to the ability to produce low cost items in-house. The most famous example of this currently is 3D printing. 3D printers have exploded in popularity, but for a long time they were too expensive to be a reasonable investment for many companies. As the price has come down, more businesses have invested in them to create their own products in-house. This has big implications for businesses. It could help with sourcing specific parts, custom orders and reducing product shortages to name just a few. How Will Industry 4.0 Affect Your Business? As you can see, the term Industry 4.0 is an all-encompassing term that includes many different technologies and the potential for those technologies is vast. But in general, Industry 4.0 includes interoperability, information transparency, technical assistance and decentralised decision-making. Every business should be reviewing how these technologies could help them gain a competitive edge and become more efficient. But it’s impossible to give an example of how the technology might potentially help each sector and individual company. So do the research. Now you know what everyone must know about Industry 4.0, make sure you look into how it will affect your business. Businesses that refuse to invest in new technologies because of the initial cost will fall behind in terms of business productivity and profitability in the long-run. While those who take the plunge now will gain the edge over their competitors that will allow them to out-innovate them for years to come. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Explore the five main types of CRM tools, including enterprise, small business, niche, marketing-focused, and open-source solutions, and learn how they differ to choose the best fit for your business needs. Understanding CRM Tools: 5 Types and How They Differ Learn the key differences between the major CRM categories and find the right solution for your business size and goals. What is CRM? CRM, or Customer Relationship Management, is a strategy and system designed to help businesses manage their interactions with current and potential customers. At its simplest, CRM is about understanding your customers, keeping track of communications, and using data to improve relationships and drive growth. Whether it's a piece of software or a broader organisational approach, CRM brings all your customer information into one place — helping teams stay aligned, improve service, and make more informed decisions. It’s a powerful way to streamline operations, personalise outreach, and ensure no opportunity falls through the cracks. Five Key Types of CRM Tools In today’s business world, a Customer Relationship Management (CRM) tool is more than just a digital address book. It’s a critical part of managing customer interactions, improving sales processes, and enhancing marketing strategies. But with so many options available, choosing the right CRM for your business can be daunting. Here, we’ll break down the five key types of CRM tools to help you make an informed decision. 1. Enterprise & Scalable CRM Solutions Enterprise CRMs are designed for large businesses with complex needs, offering extensive customisation and scalability. These tools are built to handle a high volume of data, integrate with other enterprise systems, and provide robust analytics. Salesforce Salesforce is the industry leader in CRM. It offers a comprehensive suite of tools that include sales, marketing, customer service, and analytics, all powered by AI and machine learning. Its modular structure allows businesses to add only the features they need, making it a highly scalable option. Key Features: Customisation : With Salesforce, businesses can fully customise the CRM to suit their processes. AI and Automation : Salesforce Einstein provides advanced AI-powered insights, while automation features help reduce manual tasks. Integrations : Salesforce connects seamlessly with thousands of third-party apps and services. Who is it for? Large businesses or enterprises that require extensive customisation, robust reporting, and AI capabilities. Microsoft Dynamics 365 Microsoft’s CRM solution integrates with the entire Microsoft ecosystem, including Office 365, SharePoint, and Azure. It offers a powerful combination of CRM and Enterprise Resource Planning (ERP) , making it ideal for companies that want an all-in-one solution for managing customer relationships and business operations. Key Features: Deep Microsoft Integration : Smooth integration with Microsoft apps. AI-Driven Insights : Predictive analytics and AI tools to help businesses make data-driven decisions. Customisation : Offers tailored workflows and dashboards to suit business needs. Who is it for? Large organisations or enterprises that need a unified, scalable solution and rely on Microsoft tools. SAP Customer Experience (SAP CX) SAP CRM offers a powerful CRM solution, focusing heavily on integration with other enterprise systems, particularly ERP . It’s perfect for companies looking to bridge CRM with operational aspects like inventory, finance, and logistics. Key Features: Comprehensive Business Suite : Tightly integrates with SAP’s ERP system, offering full control over business processes. Data-Driven Insights : Advanced analytics and forecasting tools. Omnichannel Engagement : Enables seamless engagement across different customer touchpoints. Who is it for? Large, multinational companies that require an integrated ERP-CRM system with strong analytics capabilities. 2. Small & Mid-Sized Business CRMs These CRMs are tailored for businesses that require fewer complexities but still need essential CRM functionalities like sales pipeline management, customer segmentation, and marketing automation. HubSpot CRM HubSpot CRM is a popular choice for small businesses due to its free plan and user-friendly interface. It’s an excellent entry-level tool for companies that want to get started with CRM without a steep learning curve. Key Features: Free Version : Offers a free CRM with basic features, making it accessible for startups and small businesses. Easy to Use : Intuitive interface with drag-and-drop functionality. Marketing Automation : Includes email marketing, lead nurturing, and social media tools. Who is it for? Small businesses and startups that need an easy-to-use, cost-effective CRM with essential marketing features. Zoho CRM Zoho CRM is a highly flexible and affordable tool for small and mid-sized businesses. It provides advanced features like AI-powered analytics and multi-channel communication, all while keeping costs down. Key Features: AI and Automation : Zoho uses AI to provide insights and automate processes. Customisation : Offers extensive customisation options. Multi-Channel : Manage emails, social media, live chat, and phone communications from a single platform. Who is it for? Small to mid-sized businesses looking for an affordable CRM with scalable features and automation tools. Pipedrive Pipedrive is specifically designed to help sales teams manage their pipeline effectively. Its focus on visual sales management and process automation makes it a go-to choice for businesses prioritising sales performance. Key Features: Sales Pipeline Management : Visualise and track sales activities with a simple, user-friendly interface. Automation : Automate repetitive tasks like follow-ups and task assignment. Sales Reporting : Detailed insights into sales activities and team performance. Who is it for? Small to mid-sized businesses that need an intuitive, sales-focused CRM. 3. Industry-Specific & Niche CRMs These CRMs cater to specific industries or business needs, offering specialised features tailored to certain verticals. They help businesses in particular sectors manage customer relationships with features suited to their unique requirements. Nimble Nimble is a social CRM tool that focuses on building relationships through social media and other online channels. It’s an excellent choice for small businesses looking to track customer interactions across social networks. Key Features: Social Media Integration : Connects with LinkedIn, Twitter, and other social platforms. Contact Management : Helps organise contacts and customer data in one place. Relationship Intelligence : Provides insights into interactions and history with each contact. Who is it for? Small businesses or solopreneurs looking to build stronger relationships via social media. Insightly Insightly is a CRM that combines both CRM and project management . It is perfect for businesses that need to manage customer relationships while also keeping track of project timelines, tasks, and collaboration. Key Features: Project Management : Tools for managing customer-related projects and tasks. Custom Dashboards : Tailor your CRM dashboard to fit your business needs. Advanced Reporting : Analytics tools to track performance and forecast business growth. Who is it for? Businesses that require CRM and project management functionalities in a single tool. Copper Copper CRM is specifically designed to integrate seamlessly with Google Workspace (formerly G Suite). It’s ideal for businesses that use Google apps and need a CRM with built-in integrations for their daily work. Key Features: Google Integration : Directly integrates with Gmail, Calendar, Docs, and other Google apps. Automation : Automatically captures data and automates workflows. CRM Customisation : Tailor pipelines, workflows, and reports. Who is it for? Businesses that are deeply invested in the Google ecosystem and want a CRM that works seamlessly within that environment. 4. Marketing & Customer Engagement-Focused CRMs These CRMs put a strong emphasis on marketing automation , customer engagement, and personalised communication. They’re great for businesses that want to not only manage relationships but also engage customers with relevant, timely content. Freshsales (Freshworks CRM) Freshsales is designed for businesses that need a simple yet powerful tool to manage leads and automate workflows. Its AI-powered lead scoring and deal management features make it a strong contender for companies focused on sales and customer engagement. Key Features: AI-Powered Lead Scoring : Prioritise leads based on engagement and likelihood to convert. Automated Follow-ups : Set up automated reminders and follow-ups. Omnichannel Communication : Engage with customers via email, phone, and chat. Who is it for? Small to mid-sized businesses that want an easy-to-use, all-in-one CRM with marketing automation. Keap (Infusionsoft) Keap is ideal for small businesses that need advanced marketing automation and CRM features. It combines lead management, email marketing, and customer communication all in one platform. Key Features: Email Marketing : Create automated email campaigns to nurture leads. Sales Pipeline : Manage leads, sales, and customer journeys. Scheduling & Invoicing : Allows businesses to schedule appointments and send invoices. Who is it for? Small businesses or solopreneurs looking for robust marketing automation combined with CRM features. ActiveCampaign ActiveCampaign is known for its advanced customer journey automation and personalised communication . It’s highly regarded for segmenting customers based on behavior, which helps businesses deliver the right message at the right time. Key Features: Email & SMS Campaigns : Advanced email marketing tools, including automation and segmentation. Customer Journey Mapping : Visualise and optimise your customer’s journey. CRM and Sales Automation : Track deals and automate sales tasks. Who is it for? Businesses that focus on advanced email marketing and customer engagement with personalised journeys. 5. Open-Source & Customisable CRMs Open-source CRMs offer full customisability without the hefty price tag of enterprise solutions. They’re ideal for businesses that have technical expertise and want full control over their CRM system. SuiteCRM SuiteCRM is an open-source alternative to Salesforce. It provides all the basic CRM functions and is highly customisable. Key Features: Fully Customisable : Modify the CRM to suit your specific needs. Sales & Marketing : Includes tools for lead tracking, sales forecasting, and marketing automation. No Licensing Fees : As an open-source platform, SuiteCRM is free to use. Who is it for? Businesses with technical resources who want a customisable CRM without the cost of proprietary solutions. Odoo CRM Odoo is part of a full business management suite , offering CRM as just one module of its system. It's great for businesses that want a single platform for CRM, accounting, project management, and more. Key Features: Modular System : Choose from a variety of business management modules. Customisable : Offers significant customisation options. Integrated with ERP : Combines CRM with other business operations like finance and inventory. Who is it for? Businesses that need an integrated suite of tools and have the technical ability to customise the system. Vtiger CRM Vtiger is an open-source CRM that is known for its user-friendly interface and robust features, including sales automation, lead management, and marketing tools. Key Features: Sales & Marketing : Includes tools for lead tracking and campaign management. Email Integration : Sync emails and use marketing automation. Customisation : Highly customisable to fit various business processes. Who is it for? Small to medium businesses looking for a flexible, open-source CRM that can grow with them. Conclusion Selecting the right CRM depends on your business size, needs, and budget. While enterprise CRMs offer advanced functionality for large organisations, small business CRMs are more affordable and straightforward, making them perfect for companies just starting to scale. Niche CRMs cater to specific industries, while marketing-focused CRMs help enhance customer engagement. If you have technical expertise, open-source CRMs give you full control at a low cost. By understanding the strengths and weaknesses of each type of CRM, you can choose the one that best aligns with your business goals, allowing you to build stronger, more efficient customer relationships. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Learn about all the benefits of niche marketing and how it can help your business expand its reach and increase revenue with a niche marketing strategy. 23 Benefits of a Niche Marketing Strategy Learn about all the benefits of niche marketing and how it can help your business expand its reach and increase revenue with a niche marketing strategy. Published on: 5 Sept 2024 Discover the powerful advantages of niche marketing and how adopting a focused approach can help your business expand its reach, increase revenue, and position itself as a leader in your industry. In the ever-evolving world of marketing, more businesses are recognising the power of niche marketing. Whether it’s Tesla launching the Cybertruck, a bold and unconventional electric vehicle aimed at tech-savvy adventurers and sustainability enthusiasts; or Peloton targeting fitness enthusiasts with its premium, connected workout experience; or brands like Oura Ring and Whoop focusing on health-conscious individuals seeking advanced data tracking for sleep and recovery, niche marketing provides companies with clear advantages. Here's why focusing on a niche market can take your business to the next level. What is a Niche Market? Niche Market Definition: A niche market consists of specific consumer groups within a broader market that share common demographics, buying behaviours, preferences, and lifestyle characteristics. By tailoring your marketing strategy to this audience, you can increase relevance and appeal, driving engagement and sales. 23 Benefits of a Niche Marketing Strategy: Increased Engagement Through Relevance Generic marketing strategies often lack interest. Focusing on a niche audience allows you to create more relevant and engaging content that speaks directly to the needs and desires of your specific customer base, resulting in higher engagement. Stand Out from Larger Competitors Niche marketing enables you to avoid the crowded playing field with big competitors. By targeting a specific segment, such as the toy market, you can divert customers from larger brands, making your business more noticeable and accessible to your audience. Discover Unique Opportunities in Emerging Segments By exploring emerging niche segments, your business can identify untapped markets, providing unique opportunities within your industry that larger competitors may overlook. This can help you stay ahead of trends and capitalise on early market share. Cultivate Innovation A niche approach fosters a culture of innovation by focusing on specific use cases or unmet needs. This targeted approach pushes your business to develop new, tailored solutions that drive success and differentiation in your market. Accelerated Time-to-Market for New Products Smaller businesses can move quickly when introducing new products, thanks to fewer bureaucratic hurdles. This agility allows for faster market entry and greater cost savings, helping you stay competitive in dynamic industries. Strong Consumer Insight When you focus on a specific niche, you gain deeper insights into your customers’ preferences, behaviours, and pain points. This knowledge empowers you to refine your offerings and tailor your marketing strategies for maximum impact. Avoid Direct Competition with Larger Firms By concentrating on niche markets, you avoid head-to-head battles with large companies, allowing you to leverage your strengths, such as flexibility and customer relationships, to compete more effectively in your segment. Utilise the Power of Social Media Networks Niche markets thrive on social media, where consumer groups often interact and influence each other. By targeting these communities, your brand can benefit from organic growth as customers share your product or service with their networks. Targeted and Cost-Effective Marketing With niche marketing, your advertising efforts are more focused, ensuring that your campaigns reach the right audience. This leads to more efficient use of marketing budgets and higher return on investment (ROI). Develop a Competitive Advantage through Product Specialisation Focusing on a specific product or service enables your business to create expertise in that area, offering a unique competitive advantage over broader market players who cannot match your specialised knowledge and offerings. Tailor Marketing to Specific Demographics Niche marketing allows for the creation of highly targeted campaigns that speak directly to the preferences of a defined group, improving the effectiveness of your messaging and increasing conversion rates. Position Your Business as a Thought Leader Offering innovative products or services within a niche allows your business to establish itself as an authority or leader in your market. This can build trust and loyalty among customers, further solidifying your position. Easier Market Entry for New Brands For new businesses, entering a niche market can be more straightforward than trying to compete in a saturated, mass-market industry. A niche allows your brand to stand out and attract customers who are specifically interested in your offering. Refine Marketing Campaigns with Direct Customer Data Gathering data on your niche audience enables you to continually refine your marketing efforts. By understanding their preferences, you can create campaigns that resonate more deeply and drive better results. Test Campaigns and Optimise for Better Outcomes A niche target market makes it easier to test different marketing approaches. You can experiment with various strategies and refine your campaigns based on real-time data, improving your overall marketing effectiveness. Set Premium Pricing for Exclusive Products A niche strategy allows you to offer premium products with a higher price point, capitalising on the exclusivity and perceived value that appeals to your target audience. This can significantly boost your profit margins. Create New Revenue Streams By tapping into niche markets, businesses can diversify their revenue streams, introducing new products or services that cater to specific consumer needs. This offers greater potential for growth and profitability. Improved Targeting through Market Segmentation Niche marketing enables you to segment the broader market effectively, ensuring that your business focuses on the segments most likely to yield profitable returns, rather than trying to appeal to everyone. Set Clear, Measurable Business Goals With a niche market, businesses can set clear and achievable goals, such as attracting a new customer segment or increasing marketing efficiency. These objectives are easier to measure and track, ensuring focused business growth. Better Resource Allocation and Focus Knowing your target niche helps you determine if you have the resources, infrastructure, and expertise to meet the needs of your audience. This allows for more effective allocation of time, effort, and capital. Accurate Market Predictions A defined target market makes it easier to estimate potential customer numbers and set appropriate pricing models. You can forecast demand more accurately, reducing the risk of overproduction or underpricing. Effective Marketing Materials and Messaging Niche marketing helps create tailored marketing materials, from websites to brochures, that speak directly to the needs and desires of your target audience. This consistency in messaging builds trust and customer loyalty. Stronger Customer Loyalty and Brand Advocacy When your business focuses on a niche market, you can build deeper relationships with customers who feel that your brand truly understands their needs. This leads to stronger loyalty and a greater likelihood of customer advocacy. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Find out how to use internal and external communications to improve your business performance and profit, with expert advice from our business consultants. How To Use Internal and External Communications To Improve Business Performance Staff and customers feature prominently in most company vision and values statements. Improving customers’ experiences is usually an all-consuming obsession for sales and marketing teams. Published on: 25 Feb 2021 Use your business communications to improve business performance Good business communications can positively influence business performance and productivity . Staff and customers feature prominently in most company vision and values statements. Improving customers’ experiences is usually an all-consuming obsession for sales and marketing teams. The employee experience is becoming an equally important priority for HR departments – after all, businesses regularly assert the mantra “staff are our most important asset”. How you communicate with both your staff and customers is an important way of showing you understand and respect them. You should think about communicating simultaneously with both audiences as part of a concerted effort to grow your business. In a way, they are two sides of the same coin. Timothy R Clark, CEO of LeaderFactor, hits the nail on the head: “Highly engaged employees make the customer experience. Disengaged employees break it.” Think of each piece of communication that you publish as a golden opportunity to build better experiences for these two audiences. The channels you use to communicate are relatively easy to set up. Newsletters, magazines, blogs, emails and apps, to name a few. What you put in them is often trickier to get right. The most impactful internal and external communications are down to good storytelling . Clear the roadblocks to effective communications There are likely to be roadblocks on the route to smoothly achieving your internal and external communications goals . Here are some of the hurdles that small businesses , medium-sized businesses and enterprises are likely to face – together with ideas on how to overcome them. Let’s start with staff communications. Senior management should support but not dominate internal communications Challenge Internal communications need buy-in and support from the top. This adds credibility to the content and should provide stronger momentum for your communications. However, it can create two challenges. First, senior management may lack the time – or inclination – to focus on internal communications. Data from Gallup shows that only 13% of employees strongly agree that leaders communicate effectively with the rest of the organisation. Second, there is the risk of managers dominating the platform. You don’t want employees seeing ‘their’ company newsletter as just another management mouthpiece. Fostering honest and open internal communications is one of the key leadership skills of the 21st century . Ideas • Good leaders listen. They can demonstrate this by balancing the content of their internal communications, so it isn’t top-heavy with corporate messaging • Whenever you share important company messages do it in a palatable way that staff will find easy to digest • Report honestly on setbacks, as well as progress, to build trust in what you are saying • Respond quickly to negative situations with real examples of what you are doing to turn things around Improve productivity with two-way internal communications Challenge Research by the Chartered Institute of Personnel and Development (CIPD) found that a quarter of employees said they rarely or never have the opportunity to raise ideas or concerns to improve how their business functions. A quarter reported that they often choose not to speak up, even though they have something they’d like to say. If you get staff on your side then they’re likely to want to work harder for you. Ideas • Use your internal communications to encourage people to share their views – both positive and negative. Then make sure you follow up, and report on, the actions you plan for remedying unsatisfactory situations • If staff are more involved in the process they should feel ownership of internal communications, such as a newsletter, so it becomes a trusted channel for giving information • Feature plenty of comments and quotes from staff in your news – that’s usually who colleagues most want to read about • Think about having a staff representative attend planning meetings for key internal communications projects, where they can represent their colleagues’ views while discussing content suggestions Align employee with company goals Challenge Deloitte noted that only 23% of executives in its survey said their companies were excellent at aligning employees’ goals with corporate purposes. The firm noted that over half (59%) of those surveyed said they were not ready or only somewhat ready to address the employee experience challenge. Company goals should be shared openly and reinforced regularly, not left on a shelf collecting dust, because they are essential to creating a healthy company culture. If you keep them out in the open and review them regularly then you are more likely to be able to align corporate ambitions with employees’ goals. Having staff on your side makes sustained business growth more achievable. As former Fortune 500 CEO and business leader Douglas R Conant points out: “To win in the marketplace, you must first win in the workplace.” Ideas • Use your internal communications to encourage and demonstrate greater workplace collaboration, so everyone feels part of the same team, pursuing common goals • Share important messages around wellbeing, health & safety and the work/life balance • Share recruitment information and job role profiles, so staff can see where their next career steps might be and you can reduce employee churn • Include corporate social responsibility (CSR) information in your communications – these issues are front-of-mind for many people • Feature personal stories from staff about life beyond work that help to reflect the human side of your business Highlight reward and recognition Challenge Reward and recognition schemes are a great way to boost employee wellbeing and loyalty. But a Perkbox survey found only 4% of employees said they currently have the right perks for them. Encouragingly, Perkbox also reported that 42% of staff said they’d be happier in 2021 if they received greater recognition for their work. You often hear companies bemoan the fact that staff don’t take advantage of the range of attractive incentives and benefits available to them. On the flip side, staff sometimes complain their employers fail to give them much in the way of perks but aren’t aware of what’s on offer. This situation highlights the damaging impact of an avoidable internal communications breakdown. Ideas • Celebrate staff successes and achievements with stories that give them the recognition they deserve and which inspire colleagues to aim equally high in their efforts • Keep details about your benefits and rewards programmes up to date, so everyone knows the latest news and how they can participate • Encourage greater innovation in the workplace by showcasing staff suggestions about better ways of working • Motivate staff with positive news, so they feel more loyal and happier to be more productive Now, let’s look at customer communications. Improve the customer experience Challenge Over two-thirds of marketing people who are responsible for managing the customer experience in companies told Gartner that their companies compete mostly or completely based on those experiences. Getting the customer experience right is essential so your productivity isn’t compromised by constantly having to sort out poor experiences. If you get it right, then you should be on a roll – Gladly observed that 68% of people were happy to pay more for products and services if they knew the company offered good customer service experiences. Ideas • Use external communications to make customers feel appreciated and part of a community based around your brand • Use external communications to improve your understanding of what customers want, so you can increase your performance by improving customer experiences • See life from the customer’s point of view, not yours. Share information, such as advice and case studies, that are relevant to their world • Speak the same language as your customers – straight-talking and jargon-free – so they are more likely to respond positively Personalise your relationships Challenge According to Accenture , only 22% of global customers said that the companies with which they do business tailor their experiences based on a deep understanding of their needs, preferences and past interactions. CEOs appear to be taking steps to address this, with 73% of them recognising the need for products, services and experiences that are more meaningful to their customers. Accenture says we are now in the ‘hyper-relevance’ era. A lot of success in improving customer experiences comes down to how well you personalise your communication. The Gladly survey found that 59% of people said that they preferred personalisation over speed in customer service. Ideas • Share positive stories about customer experiences that strengthen trust in your brand • Share important news about your business and products in a timely way that inspires confidence in your brand and generates additional interest in your business • Use external communications to highlight special offers tailored to your audience • Bring more customers back through positive, personalised messaging Listen and learn from customer feedback Challenge The service that customers receive is important in terms of how loyal they are, said 96% of respondents to a Microsoft survey. What’s more, some 77% of customers view brands more favourably if they ask for and accept customer feedback. While 68% of them view brands more favourably if they act proactively in their relationships. Ideas • Use your external communications as a platform to receive and share customer feedback that helps you understand what they think about you, so you can continually improve what you offer them • Show compassion and a deep understanding of customers’ challenges – plus a readiness to help tackle them • Delivering content that engages its audience should encourage customers to continue interacting with you • Demonstrate that your business is the expert in its market by encouraging debate and discussion around topics that highlight your leadership Turn customers into brand ambassadors Challenge A report by Bond shows that 70% of customers are more likely to recommend brands that offer good loyalty programmes. It said loyalty programmes that establish ‘positive emotional connections’ with members can lead to 27% of the membership increasing how much they spend with the brand. The ability to increase revenue from loyal customers is confirmed by Bain , who noted that companies that excel at the customer experience grow revenues 4-8% above their market. Better experiences increase loyalty and turn customers into promoters of your brand, with a lifetime value 6-14 times that of detractors, according to Bain. Customers who are switched-on to your brand can have a positive impact on your profitability. Constellation Research estimated that companies that improve engagement can increase cross-sell revenue by 22%. Ideas • Engage customers more fully with useful information about your products and services, so they get more from them • Use your external communications to educate and inform customers about your whole business – beyond the transactional side that first brought them to you • Improving customer loyalty saves money – it costs businesses far more to find new customers than to retain existing ones Summary Timely, informative, conversational internal communications help keep everyone in the picture and enable two-way conversations, so you can understand the challenges your people face and respond more quickly to resolve their issues. Lively, insightful external communications reinforce your business values, help you learn more about your customers and put a human face on your businesses. Creating effective business communications comes down to the words you use . What to say, how to say it and when to say it. It’s not always easy articulating the things that make your business a brilliant place to work or one that treats its customers like royalty. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Navigating the Triple Bottom Line for Sustainable Success Navigating the Triple Bottom Line for Sustainable Success Master the Triple Bottom Line: A strategic guide to balancing profit, people, and planet for sustainable growth, impactful decisions, and long-term business success. Published on: 31 Oct 2024 In the ever-evolving landscape of business, a paradigm shift has taken place. Beyond traditional profit-centric models, companies are increasingly recognising the importance of a holistic approach that considers not only financial gains but also social and environmental impact. This concept is encapsulated in the Triple Bottom Line (TBL) framework, which urges businesses to balance profits, people, and the planet for sustainable success. Understanding the Triple Bottom Line The Triple Bottom Line, coined by John Elkington in 1994, extends the traditional bottom line, which focuses solely on financial performance, to include two additional dimensions – social and environmental. The TBL framework suggests that a business’s success should be measured not just by its economic profits but also by its positive contributions to society and the environment. The overarching objective of implementing a sustainable business strategy is to generate positive effects on the environment, society, or both, concurrently enhancing value for shareholders. Business leaders are increasingly recognising the power of sustainable business strategies not just in addressing global challenges but also in propelling the success of their firms. Nevertheless, the task of defining sustainability, establishing precise and achievable goals, and devising a strategy to accomplish those objectives can be challenging. An approach for understanding a business’s sustainability initiatives is through the application of the triple bottom line concept, particularly in the context of driving the firm’s overall success. Profit: Beyond the Financial Bottom Line: While profitability remains a crucial aspect of any business, the TBL urges companies to consider the broader impact of their operations. In a study by Harvard Business Review , it was found that companies embracing sustainable practices out perform their counterparts in the long run. By aligning business strategies with environmental and social responsibility, companies can enhance brand reputation, attract environmentally conscious consumers, and foster innovation. People: Nurturing a Socially Responsible Culture The “People” dimension of the TBL emphasises the importance of social responsibility and ethical business practices. Companies are increasingly realising that a healthy bottom line is intricately linked to the well-being of their employees, customers, and communities. A case in point is Patagonia, a renowned outdoor clothing company. Known for its commitment to environmental and social causes, Patagonia has set an exemplary standard for incorporating the “People” aspect into its business model. The company’s initiatives, such as the implementation of fair labour practices and extensive employee benefits, not only enhance the well-being of its workforce but also resonate positively with customers. Planet: Environmental Stewardship for Long-term Viability The “Planet” aspect of the TBL emphasises environmental sustainability. With climate change and resource depletion becoming increasingly urgent issues, businesses are recognising the need to minimise their ecological footprint. Unilever, a multinational consumer goods company, is a notable example. Unilever has committed to making its entire product line more sustainable, with initiatives like reducing waste and using environmentally friendly packaging materials. Through such efforts, Unilever not only contributes to the health of the planet but also taps into the growing market of eco-conscious consumers . Challenges in Implementing the Triple Bottom Line While the TBL framework presents an attractive model for sustainable success, it is not without challenges. Balancing the three dimensions can be intricate, and companies often face dilemmas in prioritising one aspect over another. However, addressing these challenges is crucial for the long-term viability of businesses in an era where consumers and investors are increasingly scrutinising corporate responsibility. Measuring Success: The Importance of Metrics To effectively navigate the TBL, companies need reliable metrics to measure their performance in each dimension. The Global Reporting Initiative (GRI) provides a comprehensive set of guidelines for sustainability reporting, offering a standardised way for businesses to communicate their economic, social, and environmental impacts. Conclusion In conclusion, the Triple Bottom Line provides a compelling blueprint for businesses to thrive in the 21st century. By balancing profits, people, and the planet, companies can create long-term value, enhance brand reputation, and contribute positively to society and the environment. The examples of companies like Patagonia and Unilever showcase that embracing the TBL is not just an ethical choice but a strategic one that can lead to sustainable success. As we move forward, it is imperative for businesses to integrate the TBL framework into their core strategies, fostering a new era of responsible and resilient enterprises. The Triple Bottom Line is not just a trend; it’s a paradigm shift that is shaping the future of business. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Finance has data and operational insight to identify key areas of businesses where value can be created to improve internal business performance. How Finance Can Drive Business Performance Finance has data and operational insight to identify key areas of businesses where value can be created to improve internal business performance. Learn more. Over the past decade, the role of finance has focused often exclusively on reducing costs — and they’ve been successful at it too, reducing costs on average around 30% across all industries. But research shows this focus is shifting from the traditional accounts management and cost cutting activities to instead a focus on finding and creating value adding activities for businesses. In other words — it’s time to rethink finance. This shift from traditional finance activities to value-driven activities is excellent news for businesses, but it isn’t without its challenges. The CFO, alongside their wider finance department, is in a unique position to lead this change and utilise data-driven decisions to improve business performance and productivity . That’s why in this article, we’ll be looking at: How finance functions are changing across businesses The challenge CFOs face in developing finance function How finance can drive business performance How Finance Functions are Changing Across Businesses As we mentioned in the introduction, for the previous decade the primary function of finance departments was to cut costs, something that most organisations achieved. Research shows the function of finance has moved on. In fact, on average five functions other than finance now report into the CFO. While surveys of CFOs reveal four in ten say they spent the majority of their time over the course of a year focusing on activities besides traditional and speciality finance. The CFOs who stated they focused on non-finance activities said they spent most of their time over the last year on: Strategic leadership Organisational transformation Performance management Capital allocation Big data and analytics Finance capabilities Technology trends ( cybersecurity, IT etc. ) Other functions ( risk management, procurement etc. ) Not only did CFOs spend more time in these areas, but they say they developed more value through these other activities. Only 18% of CFOs said traditional finance activities have created the most value for their company and 22% cite strategic leadership as the area with most value. This shift to value added activities makes perfect sense given the increasingly difficult, global economic landscape that businesses face. It is no longer practical to keep finance on the side lines, when they have the data, operational knowledge and analytical thinking to drive internal performance. But this change is not without its challenges. The Challenge CFOs Face in Developing Finance Function The barriers to finance functioning as it needs to to drive business performance are vast, but in summary: Disconnect between CFO responsibilities and perceived role A lack of investment in new data and automation technologies A lack of available talent and training A dated finance operating model Challenging the status quo of strategy A Disconnect Between CFO Responsibilities and Perceived Role There is a disconnect between how CFOs view their role and what other C-suite executives expect of them. From the above, we know the need for CFOs to be involved and even lead business strategy and to dedicate more of their time to this aspect in order to add value to businesses. Most CFOs and C-suite executives agree that CFOs are significantly involved in bringing deep financial expertise to boardroom discussions, as well as focusing these discussions on the creation of financial value. But while 79% of CFOs state they're significantly involved in allocating financial resources, only 29% of other C-suite executives agree. In a similar vein, another study reveals 51% of finance organisations are involved in setting strategy, but only 17% are seen as leading it. This research highlights a clear need for the role of the CFO to develop and for that change to be communicated to the rest of leadership to allow finance leaders to better develop strategy. A Lack of Investment in New Data and Automation Technologies It's apparent to all those within finance, and outside of it, that businesses have entered a new age of technology and automation in the Fourth Industrial Revolution. Finance technology in particular has developed so that many of the transactional activities that used to take up so much time are now almost exclusively automated. But the adoption of this technology has not logically led to the adoption of the next wave of financial technology. Less than one in three CFOs believe their company has the capacity to be competitive in their digitisation of business activities. A separate study reveals that only 10% of organisations have widespread use of reporting and predictive tools to aid data led insights to create value. This gap in investment in new data technologies presents considerable challenges for CFOs and finance departments in driving business performance. Without investment in advanced technologies, finance will struggle to identify areas of the business that could create the most value. A Lack of Available Talent and Training The new CFO and the new function of finance needs to look beyond the static job descriptions of finance currently. To strategise effectively, CFOs increasingly need a sense of commercial awareness. In fact, commercial acumen is ranked as the number one competency required in developing finance business partnerships. Looking beyond the CFO and into the wider finance department presents new challenges too. There is a global shortage of data scientists and analysts. But these skills are vital in being able to digest and action the insights available from machine learning and AI. A Dated Finance Operating Model The new finance technologies we mentioned above allow for more contextual reporting. Where previously, finance departments predominantly looked at internal sources of data, new technologies allow this data to be put into a wider external context. For example, profit projections can be contextualised against overall industry performance. This is great news as it will deliver more accurate reporting, allowing for better planning. But with it come new challenges. Current finance operating models lack both the data management practices and the departmental agility to react to wider contextual changes effectively. Annual, or even quarterly reporting , does not allow for sufficient reactivity to changing economic circumstances — and we've all seen over the last year how quickly those circumstances can change. Challenging the Status Quo of Strategy More than 50% of a company's growth comes not from internal performance improvements, but simply from functioning in markets that are doing well. It makes sense then, that when it comes to business strategies, companies allocate 90% or more of their resources to the same projects and activities as the last year, regardless of changes in environment. CFOs and finance departments face the unique challenge of changing the status quo for business strategy. Even with data-driven insights, they will still need buy-in from all other stakeholders and leadership to actually be able to lead these changes. How Finance Can Drive Business Performance Though the challenges are plentiful, there is much finance departments can do to tackle them successfully. The following steps are a good start: Develop the role of the CFO Invest in modern technologies Change the finance operating model Identify and target performance drivers Collaborate with the rest of the organisation Develop the Role of the CFO The CFO is at the helm of the financial ship. Without their direction and guidance, all other efforts will lack direction and clarity. The CFO then needs to champion these changes as a finance leader. They need to guide the wider department and business in focusing on value added activities. Vanessa Simms , CFO of Grainger, recognises this shift in role: “Traditionally a CFO has been about stewardship, performance management, whereas now I think fundamental to the role is being a good business partner, helping the business make the right decisions, and helping to execute strategy. I see that as fundamental to the CFO role." CFOs then need to move from leading just the finance department to a more holistic position of leadership. This isn't a challenge they can face alone and represents a need for wider business hierarchies to shift and allow for better data-driven strategies to take prominence. To achieve this, the CFO must possess a variety of new skills that were not formerly associated with the role, with the top CFO skills cited as : Excellent communication skills Wider people skills Leadership skills Commercial acumen The ability to support and also challenge the CEO Analytical and strategic skills Invest in Modern Technologies This step is a little simpler. Companies cannot hope to remain competitive in a digital age unless they invest in new technologies that help them drive business performance. The technologies that are revolutionising finance are vast, with many new contenders to the scene. CFOs and finance departments need to have a good understanding of the finance technologies that can best benefit their businesses, as well as the backing from other C-Suite executives to invest in them. Advanced analytics can allow finance departments to make more effective, reactive decisions. As such, it’s important that finance departments play a clear role in managing data and should be a key player in data strategies. Where possible, technologies that allow laborious tasks to be automated should be invested in, allowing staff more time to dedicate to strategic tasks and innovation, driving better internal business performance. Change the Finance Operating Model The purpose of finance is now to drive performance, but the current finance operating model is static and allows for little agility or reactivity. Finance departments need a new operating model. They need to be able to work faster and more dynamically so that when data highlights new opportunities for performance, teams can work reactively to plan the steps needed to maximise those opportunities. Though one operating model cannot fit all businesses, there is a strong argument that the finance operating model could look more akin to the common IT operating model. These typically consist of flatter hierarchies of teams with agile working principles, allowing for high performance working. At the same time, finance departments need their staff to have the right behaviours for the new finance function, as well as the correct skills for the future. To address these, finance departments, alongside HR, can use selective hiring techniques to hire for the behaviours to best suit the role and wider company. So for example, instead of hiring solely for analytical skills ( which can be taught ), companies can hire those who display change agent behaviours instead. Of course, there is still a need for analytical skills within finance, as well as a more pressing need for advanced data analytical skills. Businesses must invest in their employees' skill development throughout their career to ensure the finance department has the right skills and behaviours to produce the best results. Identify and Target Performance Drivers With the right technologies, team and leadership, finance departments can move onto this vital step; the switch from cost reduction strategies. Cost reduction is a short-term fix. For companies that want to grow in the long-term, it is not a sustainable business strategy. Cost cutting is a counterproductive strategy which often leads to missed opportunities, high operational costs and inefficiencies across businesses. Instead, the CFO and wider finance department must bring unique insight into where capital allocation is best-used, based on data. They can achieve this by using advanced analytics to identify areas of the business where changes could add value and help grow the business. For example, improving product offerings, growing existing business units, diversifying the business and so on. Collaborate With the Rest of the Organisation As clarified above, the CFO must act as a trusted business partner to other C-Suite executives or leaders within the business. But the finance department needs to communicate this across other departments and throughout the wider business. This ensures everyone has the information they need to understand the decisions taken and the reasoning behind them. Research shows an overwhelming majority of 88% agree that the CFO has a substantial role to play in supporting operations across businesses. To achieve this, concise and transparent communication is a must. Performance and productivity is everyone’s concern, even if it is led by finance. Working with departments such as IT, sales, marketing and R&D to identify areas where performance can be improved ensures it is a common goal for everyone across the business to work towards. Finance should present data in an accessible way with the relevant context necessary for departments to have the most comprehensive understanding possible. New technologies with real time data available on interactive dashboards can be helpful in aiding these transparent communications between finance and other departments. Looking to the Future From this research, it is clear the change of finance function from accounting to business performance is already underway for many businesses. For businesses that hope to remain competitive, it is imperative that finance is utilised to drive business performance through data-driven decisions. CFOs play a key role in implementing these changes and guiding businesses into a more productive and profitable future. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Often overlooked and underrated, HR is an incredible tool for your business. Find out how HR can add value to businesses and why it's so important. How HR Can Add Value to Your Business The success of any business relies heavily on its people, so you’d expect HR to be high on the agenda but unfortunately, it’s often overlooked and underrated. Published on: 24 Jun 2021 The success of any business relies heavily on its people, so you’d expect HR to be high on the agenda but unfortunately, it’s often overlooked and underrated. Many businesses, large and small, view HR as a costly overhead that they can afford to minimise. The Coronavirus Pandemic has hit the business industry hard and with many companies struggling to stay afloat, it is natural to look at deprioritising spend in certain departments. However, HR should be the last department you turn to as, now more than ever, you need a motivated and productive workforce who are engaged and willing to respond to business changes. Is HR Really Necessary? The short answer is yes! You’d be forgiven for thinking that HR is an outdated department in the modern workplace. After all, the term ‘Human Resources’ isn’t exactly very trendy, new or exciting. Being considered a ‘resource’ is in fact, not very human at all. Innovative, new terms have begun cropping up in recent years including Talent Management, People Experience and Employee Engagement which more accurately describe the role it plays today. To understand the value of HR, we must first consider what happens when there is little or no HR in a company. Poor recruitment and employee engagement are toxic to a business. One bad apple, who does not fit the company culture, can create a less functional team. Inappropriate comments are shared, walls go up and ultimately, information and ideas stop flowing. Additionally, when employees don’t feel supported, are working long hours, feel under-skilled and undervalued then their motivation falters and workplace productivity takes a massive hit. HR should be at the top of any organisation helping to build company culture, protect its values and ensure everybody is focused on the vision with a vision statement . HR is not a ‘nice to have’, it is a ‘must have’ if you want your business to succeed. How HR Adds Value to Businesses Recruitment and retention Recruitment and retention are still at the core of HR. Every business needs experienced staff with the right qualities to succeed in the team. The HR department are responsible for ensuring the right candidates are selected who will be an asset to both the team and the overall company vision. A good reputation as an employer attracts talented applicants, who in turn look after your business and customers So, your HR team has secured great staff, does that mean you no longer need them? Hiring the right people is just the first step in the process, your company must now look to retaining them. A report conducted by Breathe HR in 2020 found 1 in 5 (21%) of British workers have quit a job due to poor workplace culture. It is also the duty of HR to monitor staff conduct and ensure any unacceptable or disruptive behaviours are dealt with appropriately and efficiently to avoid damaging company culture. Training & development Even the most skilled staff will require some form of training or development during their time with a business. Employees who develop and learn new skills benefit from increased confidence, improved career opportunities and tend to engage more with the business. A good training and development programme decreases employee turnover, creates a more positive working environment and increases productivity. The same report by Breathe HR found that 30% of workers cited a lack of progression as a cause of unhappiness at work. Staff satisfaction & workplace culture Underestimating the importance of employee satisfaction when it comes to business success is a huge mistake. As Victoria Usher , Founder & CEO of GingerMay points out ‘happy employees make happy clients.’. People are starting to value their lifestyle as much as their salary. The younger generation, in particular, seek a better work/life balance than previous generations. HR plays a key role in creating, defining and implementing company culture. Steps to improve company culture might include an employee wellbeing programme , flexible working opportunities, a chance to feedback and engage as well as a nice working environment and social events. Less emphasis needs to be put on yearly appraisals which cause stress and have little benefit, and more focus put on regular, positive feedback and celebration of achievements. 2020 has proved that supporting our staff and responding flexibly to their personal needs has a huge role to play in business success. Our employees suddenly had to adapt to a completely new way of working with added life stresses such as a lack of work space or childcare needs. Increased productivity Productivity i s one of the primary driving forces behind business success, yet, the UK has witnessed a sustained period of poor productivity growth for many years now. HR has an integral role to play in supporting and improving productivity . Staff who are happy at work pay more attention to their role, whether that’s being more attentive to a customer’s needs or producing products faster to a higher standard. Hiring the right staff, offering training, improving workplace culture and supporting staff all result in an increase of productivity. Company Growth & Vision You have a business and perhaps you have a plan, but does everyone in the company understand how their role contributes to the end goal? HR needs to be at the top of the organisation protecting company values and communicating and ensuring the company vision is clear. In summary, there are many ways HR can add value to your business from good recruitment to employee satisfaction. Now, more than ever, HR is not a luxury but an essential component of any successful business. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Sustainable and social investing integrates values with financial goals, fostering positive impact on the environment and society. Sustainable and Social Investing: A Path to a Better Future Sustainable and social investing integrates values with financial goals, fostering positive impact on the environment and society. It represents a path to a better future, aligning profit with purpose. Profit with Purpose: The Power of Sustainable Investing Sustainable and social investing, often referred to as impact investing or ESG (Environmental, Social, and Governance) investing, has gained significant momentum in recent years. Investors are increasingly looking beyond financial returns to consider the broader impact of their investments on society and the environment. This approach marks a significant shift from traditional investment strategies that focus solely on maximising profits. In this article, we will discuss, examine, and explore sustainable and social investing, its principles, benefits, challenges, and the growing role it plays in reshaping the global financial landscape. Defining Sustainable and Social Investing Sustainable and social investing refers to investment strategies that aim to generate positive environmental and social outcomes alongside financial returns. These strategies consider a range of factors, including environmental sustainability, social responsibility, and strong corporate governance, to guide investment decisions. Environmental Sustainability: This aspect of sustainable investing focuses on minimising harm to the environment and promoting practices that contribute to its preservation. Investments in renewable energy, clean technology, and sustainable agriculture are examples of environmentally sustainable investments. Social Responsibility: Social investing seeks to support companies and initiatives that have a positive impact on society. This can include investments in businesses promoting fair labour practices, affordable healthcare, education, and social justice. Governance: Governance-related factors assess a company's management, ethics, and transparency. Investments are made in companies that exhibit strong governance practices and ethical behaviour. Principles of Sustainable and Social Investing Sustainable and social investing operates on several key principles: Positive Impact: The primary goal is to create a positive impact on the environment and society. Investments are selected based on their potential to drive change and solve pressing issues. Alignment with Values: Investors align their portfolios with their personal values and beliefs. This approach allows them to support causes they are passionate about while generating returns. Risk Mitigation: By considering ESG factors, investors aim to reduce long-term risks associated with issues such as climate change, labour disputes, and regulatory changes. Long-Term Perspective: Sustainable and social investing often takes a long-term view, recognising that positive impacts may take time to materialise. This approach contrasts with short-term profit maximisation. Benefits of Sustainable and Social Investing Sustainable and social investing offers a multitude of benefits: Financial Returns: Contrary to the misconception that such investments sacrifice financial performance, various studies have shown that companies with strong ESG practices can outperform their peers over the long term. This suggests that sustainable investments can be financially rewarding. Risk Reduction: By considering ESG factors, investors can identify and mitigate potential risks. This risk reduction can lead to more stable and resilient investment portfolios. Alignment with Values: Sustainable and social investing allows investors to put their money where their values are. It offers the satisfaction of knowing that one's investments are contributing to positive change in areas of personal concern. Positive Impact: Impact investing can have a direct, positive influence on society and the environment. Investments in renewable energy, clean water, and affordable housing, for instance, can address pressing global challenges. Attracting Capital: Companies that embrace sustainable practices and social responsibility tend to attract more capital from conscientious investors. This can provide a competitive advantage and help fund growth. Challenges in Sustainable and Social Investing While the benefits of sustainable and social investing are evident, several challenges exist: Lack of Standardisation: The lack of standardised metrics and reporting makes it difficult for investors to assess ESG performance consistently. This can lead to discrepancies in decision-making and reporting. Greenwashing: Some companies may exaggerate their environmental or social commitments to attract investment, a practice known as greenwashing. It can be challenging for investors to differentiate genuine commitment from marketing tactics. Limited Investment Universe : Some investors find it difficult to diversify their portfolios within the constraints of sustainable investing. They may face limitations in available investment options, potentially impacting portfolio performance. Complexity: Sustainable investing requires a deep understanding of ESG factors, industries, and trends. Investors may need to acquire new knowledge and skills to make informed decisions. Trade-Offs: In some cases, there may be trade-offs between financial returns and positive impact. Investors may need to decide where they draw the line between financial gain and their values. The Growing Role of Sustainable and Social Investing Sustainable and social investing is no longer a niche concept; it is becoming mainstream. Several factors have contributed to its growing role in reshaping the global financial landscape: Consumer Demand: A rising number of consumers are prioritising products and services from companies with strong ESG values. This consumer demand is pushing businesses to adopt more sustainable practices and disclose their ESG efforts. Regulatory Support: Many governments and regulatory bodies are actively promoting ESG and sustainable investing. They are implementing policies and regulations that encourage greater transparency and accountability in ESG reporting. Institutional Investors: Large institutional investors, such as pension funds and sovereign wealth funds, are increasingly incorporating ESG considerations into their investment strategies. This has a significant impact on the broader investment ecosystem. Global Awareness: Issues like climate change, income inequality, and social justice have gained global attention. Investors and companies alike recognise the need to address these challenges. Technology Advancements: Advances in data analytics and technology have made it easier for investors to assess ESG performance and incorporate it into their investment decisions. Conclusion Sustainable and social investing represents a paradigm shift in the world of finance. It demonstrates that financial returns and positive social and environmental impacts are not mutually exclusive. By aligning investments with personal values and societal concerns, investors can drive change and promote a more sustainable and equitable future. While sustainable and social investing offers numerous advantages, challenges remain. These challenges, such as a lack of standardisation and the potential for greenwashing, must be addressed to ensure the continued growth and credibility of this investment approach. As more investors, companies, and governments recognise the importance of ESG factors, the role of sustainable and social investing will only expand. In a world facing significant challenges, from climate change to social inequality, sustainable and social investing offers a pathway towards a brighter and more sustainable future. It empowers investors to become catalysts for positive change and reshapes the financial landscape to be more responsible, inclusive, and environmentally friendly. As this approach gains momentum, it is likely to become a driving force in the transformation of the global economy. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started