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5 Deep Sea Mining Environmental Impacts Deep-sea mining risks marine biodiversity and further climate change, highlighting the urge for further research to understand potential impacts better and develop effective regulations. The world’s transition towards green energy is driving a surge in demand for rare earth metals, leading mining companies to explore the deep-sea for supplies. However, the potential environmental impacts of deep-sea mining are causing heated debate among environmentalists and scientists as a Canadian company prepares to launch the first-ever commercial deep-sea mining operations in the Pacific Ocean. Many are calling for a delay in approval to allow for extensive research and the development of regulations. Here we highlight the possible cost of the green energy revolution and the impact of deep-sea mining on the environment. Deep-sea environmental impacts Deep-sea mining destroys habitats and threatens various species that live in the sea beds. Deep-sea mining can cause marine and chemical pollution due to sediments dumped into the oceans, e.g., oil spills, which devastate marine diversity. It can cause biodiversity loss as mining disrupts the marine ecosystem's sensitivity. Deep-sea mining leads to reduced water quality in the surroundings. This mining can generate plumes of sediment and waste that can drift away from mining sites and negatively impact water quality, causing health problems to marine organisms. It can contribute to climate change when greenhouse gases are released during mining, disrupting the natural process that helps regulate the earth’s climate. To address the negative impacts of deep-sea mining on the environment, regenerative business practices can be adopted, such as using environmentally friendly mining techniques and implementing proper waste management. Additionally, efforts can be made to reduce the demand for rare earth metals by promoting recycling and innovation in manufacturing renewable technologies. This can assist in addressing the battery mineral shortage and reduce the need for deep-sea mining. Governments can strengthen deep-sea mining regulations to ensure the process is environmentally sustainable. Deep-sea mining risks marine biodiversity and further climate change, highlighting the urge for further research to understand potential impacts better and develop effective regulations. Good practices can result in a NET POSITIVE for the environment and future generations. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

What is ESG - Environmental, Social and Governance Criteria? Environmental, social, and governance, or ESG, refers to the three crucial elements when assessing a financial investment's sustainability and moral impact on a corporation or a business. Published on: 7 Nov 2024 Environmental, social, and governance, or ESG, refers to the three crucial elements when assessing a financial investment’s sustainability and moral impact on a corporation or a business. Most socially conscious investors assess firms using ESG criteria when evaluating investments. It is a general phrase used in capital markets and frequently used by investors to assess corporate behavior and forecast future financial results. ESG factors are a subset of non-financial performance indicators that cover moral, environmentally friendly, and corporate governance concerns. These concerns include things like putting systems in place to ensure accountability and reducing the corporation’s carbon footprint. Rising inequality, the shift from a linear to a circular economy, climate change, and balancing societal and economic requirements are just a few significant issues facing our world today. Businesses need to be effective stewards of financial capital and natural and social capital and have the proper governance framework in place. This is what investors are increasingly demanding. ESG is becoming more significant from the standpoint of acquiring debt and equity financing as more and more investors incorporate ESG factors into their investment decision-making process. Environment The “environmental” component of ESG refers to the environmental impact of a corporation. This can involve the: greenhouse gas emissions, water and waste management methods, and conservation initiatives of a business. Due to their efforts to reduce their environmental impact, companies with excellent ESG practices in this area are frequently viewed as more responsible and sustainable. Social A company’s social impact is considered the “social” component of ESG. This can include how a business treats its employees, interacts with suppliers and other stakeholders, and engages with the neighborhood. They are making efforts to guarantee that their operations benefit society. Businesses with good ESG practices in this area are frequently viewed as more responsible and ethical. The social category of ESG may encompass specific problems like diversity and inclusion, employment policies, and human rights. Governance A corporation’s governance procedures and policies are referred to as the “governance” component of ESG. This comprises the management and leadership structure of the business, its decision-making procedures, and openness. Because they have adequate procedures to ensure they are managed ethically and transparently, companies with excellent ESG practices in the governance sector are frequently considered more responsible and accountable. Executive pay, board diversity, and shareholder rights are a few specific concerns that may fall under the governance area of ESG. ESG and SGD have a close association with one another. Many of the topics covered by the SGDs, such as inequality and climate change, are also essential ESG factors. It is possible to promote sustainable development objectives and have a good effect on society and the environment by investing in firms that perform well on ESG measures. On the other hand, investing in businesses with subpar ESG performance risks undermining the SGDs and causing unfavorable social and environmental effects. What Companies Should do to Mitigate Legal and Reputational Risks about the ESG Develop and implement strong ESG policies and practices: Businesses should have definite rules and procedures in place to handle concerns related to the environment, society, and governance. All employees and stakeholders should be informed of these rules, which should comply with all applicable laws and regulations. Monitor and report on ESG performance Businesses should have a set of definite rules and procedures in place to handle concerns related to the ESG. All employees and stakeholders should be informed of these rules, which should comply with all applicable laws and regulations. Engage with stakeholders Businesses should actively involve their stakeholders, such as staff members, clients, investors, and community members, to comprehend their ESG concerns and resolve potential problems. Manage risks proactively Potential ESG risks should be identified and evaluated by businesses, and procedures should be in place to manage and reduce these risks. This might entail carrying out risk analyses, creating risk management committees, and carrying out risk management strategies. Seek out guidance and support To manage complicated ESG concerns and make sure they are taking the necessary precautions to avoid legal and reputational risks, and companies may choose to seek advice and support from other sources, such as industry groups, consultants, and legal experts. According to a recent survey by OCEG ESG, the common areas of ESG impact were lead by brand and reputation. The various effect zones mutually depend on one another; they cannot exist alone. Investment choices are influenced by customer satisfaction. Both customer and employee satisfaction impact brand and reputation. Financial results have connections to both investors and customers. ESG impacts will continue to expand overall, both favorably as corporations make their ESG efforts more visible and negatively when ESG-related failures in areas of environmental and social concern occur, regardless of which is now “in the lead,” as stated. Adoption of ESG Technology The use of technology to support and enhance an organization’s ESG practices is referred to as the adoption of ESG (environmental, social, and governance) technology. This can encompass a huge variety of technologies, including: Environment Technologies These include technology like renewable energy, energy efficiency, and water conservation intended to assist businesses in lessening their negative environmental impact. Social technologies These include supply chain management systems, training and development systems, and human resources management systems, all of which are intended to assist businesses in improving their social performance. Governance technologies These technologies, such as risk management, compliance, and transparency tools, are intended to assist businesses in strengthening their governance procedures. Utilizing ESG technologies can help businesses reduce legal and reputational risks while enhancing their ESG performance. Additionally, it can aid companies in lowering expenses, boosting productivity, and strengthening their standing in the market. However, it is crucial for businesses to carefully weigh the advantages and disadvantages of implementing ESG technologies and to make sure they have the resources and knowledge required to do so. According to the poll, only 10% of respondents said they used technology entirely, and another 30% said they only used it for some aspects of environmental, social, and governance (ESG). More than 60% of these attempts do not use any technology. How ESG, Finance, and Investing Works Together Allocating resources over time to make a profit is a critical component of finance and investment. ESG issues may be necessary when making financial and investment decisions since they can have a good or negative impact on a company’s financial performance and, consequently, the return on investment. ESG variables are becoming more widely acknowledged as related to financial performance. It’s a tool for identifying possibilities and hazards in investment analysis. As a result, many investment strategies that consider ESG factors have been developed, including sustainable and impact investing. These strategies seek to provide a profit and beneficial societal or environmental impact. When the paradigm was included in many institutional investors’ playbooks, ESG gained popularity. In addition to new and evolving reporting formats, an increasing number of ESG rating agencies issue ESG ratings, enhancing the consistency and transparency of the data that businesses disclose publicly. Capital markets can be an effective vehicle for bringing about change. Bad actors may be enticed to improve performance on ESG measures by restricting access to capital. On the other hand, rewarding businesses and their management teams for good ESG performance promote improvement and further advancement. Green bonds, mutual funds, ETFs, and index funds are a few of the new ESG investment instruments. Thanks to these publicly traded securities, investors can connect their investment choices with their personal opinions and values regarding E, S, or G. Responsible Investment in ESG Sustainable, socially conscious, or ethical investing are other terms for taking environmental, social, and governance (ESG) considerations into account while making investment decisions. This can entail actively searching out assets consistent with specific ideals or avoiding investments inconsistent with those values. Engaging with businesses to motivate them to enhance their ESG performance is another option. Investors may opt to use responsible investment strategies for several reasons. Some investors may be driven by moral principles, such as a desire to back businesses that benefit society or the environment. Others may be caused by the idea that organizations with excellent ESG practices may be better run and have a lesser risk of financial difficulties, which could result in higher potential long-term economic gains. ESG factors can be taken into account in a variety of ways when making investment choices. One strategy is to put money into businesses or funds deliberately created to positively influence society or the environment, such as renewable energy or affordable housing. Another strategy is to utilize ESG data and ratings to choose investments or interact with businesses to motivate them to improve their ESG performance. Investors should carefully assess their investment objectives and risk tolerance when selecting whether and how to include ESG aspects in their investment decisions. They should also be aware that there is no one “correct” method for responsible investing and that various strategies may be suitable for multiple investors. Disclosure Disclosure in the context of environmental, social, and governance (ESG) issues refers to the practice of making data regarding a company’s ESG performance available to the general public. Information about a company’s environmental effects, such as its greenhouse gas emissions and water use, as well as its social and governance practices, such as its executive compensation and labour rules, might be included in this. ESG disclosure is crucial because it enables stakeholders, investors, and members of the public to comprehend how a company is performing in these areas and to make well-informed judgments about the business. Additionally, it can assist businesses in recognizing and addressing possible ESG-related risks and opportunities. ESG data can be disclosed using a variety of channels, such as financial statements, sustainability reports, and internet databases. The Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB), which offer standardized frameworks for reporting on ESG problems, are two voluntary reporting projects in which some businesses elect to participate. Investors should carefully assess the given information to verify that it is accurate and meaningful because the consistency and quality of ESG disclosure can vary greatly. Investors may also speak with businesses directly to request more details or to motivate them to enhance their ESG disclosure procedures. Challenges with ESG Data quality and availability: The quality and accessibility of data are one of the major problems facing the ESG industry. It can be challenging for businesses to assess and report their ESG performance precisely. This can occur particularly if they have operations in several different countries or work in sectors with convoluted supply chains. Standardisation The absence of standards in the ESG industry presents another difficulty. It can be challenging for businesses to evaluate their performance compared to their competitors and to choose the most important metrics to pay attention to because there are so many different frameworks and criteria for assessing and reporting on ESG performance. Integration with business strategies Integrating ESG factors into corporate planning is another difficulty. Businesses may have trouble integrating ESG factors into their decision-making processes and coordinating their ESG aims with their overarching commercial goals. Reputational risks If businesses are not living up to public standards on ESG issues, they also risk losing their good name. This could harm a business’s reputation and affect its financial results. Regulation Lastly, businesses may encounter ESG regulation-related difficulties, mainly if they operate in sectors or marketplaces with complicated or dynamic regulatory environments. Despite these obstacles, responsible investing is becoming more popular in various parts of the world. Numerous programs and organizations are attempting to resolve these problems and advance sustainable investing throughout the continent. While some investors use ESG data and ratings to assist them in identifying risks and possibilities, some are actively looking for ways to have a positive social or environmental effect in Africa. 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

What is the Circular Economy? The circular economy is a sustainable business model that aims to keep materials, products, and services in circulation for as long as possible. Unlike the traditional linear economy—where resources are mined, made into products, and eventually discarded as waste—the circular economy embodies a restorative or regenerative system designed to eliminate waste through superior design of materials, products, and business models. According to the Environmental Protection Agency EPA , a circular economy reduces material use, redesigns products to be less resource-intensive, and considers "waste" as a resource for manufacturing new materials and products. It represents a fundamental shift away from our current take-make-waste model, aiming to decouple economic growth from the exhaustive use of resources while meeting societal needs. But why is the circular economy important? The circular economy is a key player in the battle against climate change. The United Nations’ International Resource Panel found that the extraction and processing of natural resources contribute to approximately half of all global greenhouse gas emissions. Therefore, transitioning to a circular model, where waste is drastically reduced and materials are continually reused, can significantly curb these emissions. Moreover, EPA is tirelessly working on strategies to reduce the adverse impacts of materials on our environment. Designed thoughtfully and inclusively, the circular economy has the potential to not only protect the environment but also to drive economic growth and advance social justice. The principle of sustainability requires social equity and the circular economy, in its essence, aligns with this principle. For decades, underserved communities have suffered from the negative environmental and health impacts due to a non-circular economy. Landfills, waste management , manufacturing, and processing facilities often disproportionately burden these low-income communities. By advocating for a circular economy, EPA aims to alleviate this burden, reducing waste, reusing critical minerals, and fostering the creation of safe jobs within healthy communities. The transition to a circular economy presents an exciting opportunity for innovative growth and sustainability. By shifting our perspective on waste and resource use , we can pave the way for a healthier planet and a more equitable society. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Sustaining Success: A Roadmap Through the 5 Essential Stages of a Sustainability Action Plan In our comprehensive guide, explore the fundamental steps to develop a robust Sustainability Action Plan. Learn how to navigate the 5 key stages, paving the way for a sustainable future for your organisation Creating a Sustainability Action Plan is a vital step for businesses and organisations aiming to address environmental, social, and economic sustainability challenges. Such a plan provides a structured approach to embed sustainable practices into daily operations, reduce environmental impact, improve social responsibility, and enhance long-term viability. The process can be divided into five key stages, each of which plays a crucial role in the development and execution of a successful Sustainability Action Plan. Stage 1: Preparing for Sustainability Integration Before diving into the details of a Sustainability Action Plan, it is essential to prepare the groundwork and establish the context for sustainability within the organisation. This stage involves the following key steps: Leadership Commitment: The first step is securing commitment from senior leadership, including the CEO and top management. Their buy-in is essential for allocating resources and making sustainability a core part of the organisation's mission. Stakeholder Engagement: Identify key stakeholders, both internal and external, who will be affected by or influence the organisation's sustainability efforts. This can include employees, customers, suppliers, regulatory bodies, and community groups. Baseline Assessment: Conduct a thorough review of the organisation's current sustainability performance. This involves gathering data on energy use, waste generation, water consumption, emissions, social impact, and other relevant metrics. The baseline assessment provides a benchmark against which progress can be measured. Setting Clear Objectives: Define specific, measurable, achievable, relevant, and time-bound (SMART) sustainability objectives. These goals should align with the organisation's mission and values, and they may cover areas such as reducing carbon emissions, minimising waste, or enhancing diversity and inclusion. Compliance and Regulatory Review: Ensure that the organisation understands and complies with relevant environmental, social, and governance (ESG) regulations and standards. This includes staying up-to-date with changing requirements and anticipating future developments. Stage 2: Goal Setting and Strategy Development Once the groundwork is established, the next stage involves setting clear sustainability goals and developing a comprehensive strategy for achieving them. This stage includes the following steps: Defining Priorities: Determine which sustainability issues are most critical for the organisation, considering factors like impact, relevance to stakeholders, and alignment with corporate values. Goal Alignment: Align sustainability goals with the organisation's broader mission and values. Ensure that these goals are integrated into the corporate strategy and culture. SWOT Analysis : Perform a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to identify internal strengths and weaknesses related to sustainability, as well as external opportunities and threats that may affect sustainability efforts. Strategy Development: Develop a comprehensive sustainability strategy that outlines the specific initiatives and actions needed to achieve the established goals. This strategy may encompass areas like energy efficiency, sustainable sourcing, waste reduction, social responsibility, and more. Resource Allocation: Determine the financial, human, and technological resources required to execute the sustainability initiatives. Budget allocation is a critical component of this step. Stage 3: Implementation and Integration With a clear strategy in place, it's time to put it into action. This stage is marked by the actual implementation of sustainability initiatives across the organisation, and it involves the following key actions: Project Planning: Develop detailed project plans for each sustainability initiative. These plans should include timelines, responsibilities, and performance indicators. Employee Training and Engagement: Educate employees at all levels about sustainability practices and their roles in achieving the organisation's goals. Encourage active participation and commitment to sustainability efforts. Supplier Engagement: Work with suppliers to encourage sustainable sourcing and responsible business practices throughout the supply chain. This may involve setting sustainability criteria for suppliers and conducting audits. Technology and Infrastructure Updates: Implement technology and infrastructure changes, such as energy-efficient systems, waste management solutions, and renewable energy sources, to support sustainability initiatives. Monitoring and Reporting: Develop systems for ongoing monitoring and data collection to track progress. Regular reporting to both internal and external stakeholders is essential to maintain transparency. Stage 4: Evaluation and Continuous Improvement Sustainability is an ongoing journey, and organisations must continuously evaluate their efforts and make improvements. This stage involves the following key steps: Key Performance Indicators (KPIs): Establish KPIs to measure the effectiveness of sustainability initiatives. These metrics should be aligned with the SMART objectives set in the earlier stages. Data Analysis: Regularly analyse the data collected to assess the organisation's performance against established benchmarks and KPIs. Identify areas where goals are not being met or where improvements can be made. Feedback Loops: Create mechanisms for gathering feedback from employees, customers, and other stakeholders. This input can provide valuable insights and drive continuous improvement. Adaptation and Optimisation: Use the data and feedback to adapt and optimise sustainability initiatives. Modify strategies, set new targets, and reallocate resources as needed. Communication and Recognition: Share achievements and progress with stakeholders, internally and externally. Recognise and celebrate successes to motivate further engagement. Stage 5: Reporting and Transparency The final stage involves reporting on sustainability performance and ensuring transparency with stakeholders. This includes the following actions: Sustainability Reporting: Prepare regular sustainability reports that detail the organisation's performance against its goals and KPIs. These reports often follow global reporting frameworks like the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB). Stakeholder Engagement: Share the sustainability report with key stakeholders and engage in open dialogue with them to address concerns, receive feedback, and demonstrate accountability. External Recognition: Seek external recognition and certifications related to sustainability achievements. These recognitions, such as B Corp certification or ISO 14001, can boost the organisation's reputation and credibility. Continuous Learning: Stay informed about evolving sustainability trends, best practices, and emerging regulations. Adapt the Sustainability Action Plan to reflect these changes. Public Disclosure: Consider public disclosure of the sustainability report, either through your organisation's website, social media, or industry-specific platforms. Transparency demonstrates a commitment to accountability. In summary, creating a Sustainability Action Plan involves a structured approach with five key stages: preparing for sustainability integration, setting goals and developing a strategy, implementing and integrating sustainability initiatives, evaluating and continuously improving, and reporting and ensuring transparency. This process is not static but requires ongoing commitment, adaptability, and engagement with stakeholders to drive meaningful and lasting change toward a sustainable 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

What Is Workforce Management? Learn what workforce management is, how it benefits businesses, how to increase productivity and about effective workforce management solutions. Published on: 18 Oct 2018 Workforce management is the strategic process of optimising a company's human resources to enhance productivity, efficiency, and overall performance. It involves various facets such as scheduling, forecasting, training, and performance management. Effective workforce management is crucial for organizations to meet their operational goals while ensuring employee satisfaction and retention. Revenue intelligence plays a pivotal role in guiding workforce management In this era of data-driven decision-making, revenue intelligence plays a pivotal role in guiding workforce management. Revenue intelligence involves gathering, analysing, and leveraging data to understand customer behavior, market trends, and revenue patterns. By integrating revenue intelligence into workforce management practices, businesses can make informed decisions regarding staffing levels, skill requirements, and employee allocation. For example, insights derived from revenue intelligence may reveal peak times of customer demand, enabling businesses to adjust staffing schedules accordingly to meet fluctuations in workload effectively. Furthermore, integrating revenue intelligence with business management systems such as Enterprise Resource Planning (ERP) or Customer Relationship Management (CRM) systems can provide a comprehensive view of organizational operations. These systems can track key metrics related to workforce performance, customer interactions, and financial data, allowing managers to identify areas for improvement and make data-driven decisions. By leveraging revenue intelligence within business management systems, organizations can optimize workforce management strategies to drive growth, enhance customer satisfaction, and maximize profitability. Improving the productivity of your workforce Improving the productivity of your workforce, of your staff, can help create a more effective business and a more effective business generates increased profits, which pays increased bonuses and commissions, so you get happier employees, that stay longer, that are more productive … and round we go. Poor workforce management can cost a business a lot in lost profitability. Ensuring the right staff are working on the right things at the right time, are motivated and engaged, is key to business success. So this is about working smarter, not harder and longer. What is workforce management?‎ Workforce management software can be used by both large and small companies alike. It can help you with staff scheduling, employee time management, holiday management, time and attendance, task and activity management, manage remote employees, data loss prevention and provide behaviour analytics. Workforce management software can help you identify clients, staff and activities that are lowering your productivity. Improving employee productivity will help drive up customer satisfaction levels as a more productive employee is often better prepared, ready, willing, happy and able to handle difficult customer conversations, rather than working on time-wasting, non-productive tasks. Five tips to increase worker productivity Plan your time in advance so you know you can manage immediate urgent issues as well as important tasks that need completing for the future. If you don’t do this, you’ll only ever be reactive in your working day, always fighting fires. Work as team. If you’ve important admin to do, ask a colleague to cover the phones for you, for example. Escalate any issues holding you back to management so they can help you resolve them, or discuss with colleagues, that’s why they are there. You’re a team. Be clear about what you need to achieve today, then at the end of day, give yourself a pat on the back for doing it. Make sure you’re enjoying your work. Have fun with it. It’s hard to be productive if every day is a drag. If you’re not enjoying it, think if it’s the right job or company for you. Three benefits of effective workforce management solutions Your staff are perhaps your most expensive resource so anything that helps to increase staff productivity and so increase your profitability and keeps you competitive, can only be a good thing. Most workforce management solutions involve increasing the amount of data and information managers and directors have available to make better decisions. Better, more timely decisions will reduce business risk. Improved customer satisfaction results from your staff, your workforce being better managed. They’ll know what’s expected of them, when and how to go about things more clearly, so will be more customer focused when needed, not distracted by many levels of uncertainty. 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

15 Key Features of Construction Estimating Software The construction industry is one where precision, efficiency, and time management are critical. As projects become more complex, the tools used to manage them must evolve. Construction estimating software has become an essential component for contractors, project managers, and quantity surveyors, offering a suite of functionalities that streamline the estimation process and enhance overall project management. In this article, we explore the core functionalities of construction estimating software, highlighting features that set modern tools apart, including estimating templates, calculators, live price tracking, and more. 1. Cost Estimation and Budgeting At the heart of construction estimating software lies its ability to create detailed, accurate cost estimates. This process involves calculating expenses for materials, labour, equipment, and other resources. The software automates these calculations, ensuring that estimates are both comprehensive and precise. By reducing the risk of human error, it helps in maintaining budgetary control throughout the project lifecycle. 2. Estimating Templates One of the standout features in modern construction estimating software is the availability of estimating templates. These templates provide pre-built structures for various types of projects, allowing users to quickly generate estimates by simply filling in the relevant details. Whether working on a residential renovation or a large commercial development, these templates save time and ensure consistency across estimates. They can be customised to fit specific project requirements, making them a versatile tool in the estimator’s toolkit. 3. Quantity Takeoff Quantity takeoff, the process of measuring and listing all materials required for a project, is a crucial step in estimating. Traditional methods of manual measurement are time-consuming and prone to errors. Construction estimating software includes digital takeoff tools that automate this process, enabling users to perform takeoffs directly from digital blueprints. This not only speeds up the process but also improves accuracy, reducing the risk of costly mistakes. 4. Estimating Calculators Estimating calculators are another powerful feature that enhances the accuracy and efficiency of the estimation process. These calculators are designed to handle various types of calculations, from simple arithmetic to more complex formulas that consider factors like wastage, overheads, and profit margins. By automating these calculations, the software ensures that all aspects of the estimate are meticulously considered, leading to more reliable and professional outcomes. 5. Live Price-Tracked Materials In the construction industry, material prices can fluctuate frequently, making it challenging to keep estimates accurate. To address this, leading construction estimating software offers live price-tracked materials. This feature allows users to access real-time pricing data for materials, ensuring that their estimates reflect the most current market conditions. By linking to supplier databases or online resources, the software can automatically update material costs, which is especially beneficial for long-term projects where prices may change over time. 6. Pre-Populated Labour Price Book Labour costs are a significant component of any construction estimate. To simplify this process, many software solutions include a pre-populated labour price book. This feature provides a database of standard labour rates based on industry norms, which can be customised to reflect local wage conditions or specific contractor rates. Having this information readily available not only saves time but also ensures that labour costs are accurately reflected in the estimate. 7. The ‘Other’ Costs While materials and labour make up the bulk of construction costs, there are often additional expenses that need to be considered. These ‘other’ costs can include permits, insurance, transportation, site security, and contingency allowances. Construction estimating software provides tools to factor in these costs, ensuring that the final estimate is as comprehensive as possible. By accounting for all potential expenses, the software helps avoid unexpected surprises that could derail a project’s budget. 8. Job Overview A well-organised project begins with a clear understanding of its scope and requirements. The job overview functionality in estimating software provides a high-level summary of the project, including key details like client information, project timelines, and financial summaries. This overview acts as a central hub for the project, giving all stakeholders easy access to the most important information at a glance. It also serves as a starting point for more detailed analysis and planning. 9. Bid Management and Business-Winning Quotation Winning business in a competitive construction market requires precise and compelling bids. Construction estimating software assists with bid management by enabling users to prepare professional, detailed proposals. The business-winning quotation feature allows contractors to create visually appealing, client-ready documents that clearly outline costs, timelines, and deliverables. This not only improves the chances of winning a bid but also sets the stage for clear communication with the client from the outset. 10. Auto Project Organisation Once a project is awarded, the next challenge is organisation. Auto project organisation features in construction estimating software help streamline this process by automatically generating schedules, task lists, and resource allocations based on the estimate. This ensures that all elements of the project are planned out in detail, reducing the risk of delays or oversights. The integration of this feature with the estimating process ensures a seamless transition from planning to execution. 11. Auto Materials Schedule Managing materials efficiently is critical to keeping a construction project on track and within budget. The auto materials schedule feature in estimating software automatically generates a procurement plan based on the quantities and types of materials specified in the estimate. This schedule ensures that materials are ordered and delivered at the right times, preventing delays due to shortages or storage issues. It also helps in coordinating with suppliers to ensure that materials are sourced at the best prices. 12. Smart Scheduling and Rounding Scheduling is a complex task that involves balancing multiple factors, including labour availability, material delivery, and weather conditions. Smart scheduling features in construction estimating software use algorithms to optimise project timelines, ensuring that tasks are sequenced efficiently and resources are used effectively. Additionally, rounding tools can adjust quantities and costs to practical figures, making estimates more realistic and easier to manage in the field. This attention to detail helps in creating schedules that are both ambitious and achievable. 13. Reporting and Analytics Beyond generating estimates, construction estimating software often includes robust reporting and analytics tools. These features allow users to produce detailed reports on various aspects of the project, including cost breakdowns, budget performance, and timeline adherence. Analytics can provide insights into areas where the estimating process can be improved, such as identifying consistent cost overruns or discrepancies in labour estimates. These reports are invaluable for internal assessments and client communications, ensuring transparency and accountability throughout the project. 14. Integration with Project Management Tools A major advantage of modern construction estimating software is its ability to integrate with other project management tools. This integration allows for seamless communication between the estimation phase and the broader project management process. For example, once a bid is won, the estimated costs can be directly imported into project management software, where they can inform scheduling, resource allocation, and financial tracking. This connectivity ensures that all project stakeholders have access to consistent, up-to-date information, enhancing collaboration and reducing the risk of errors. 15. Customisation and Scalability Finally, leading construction estimating software offers a high degree of customisation and scalability. This means that the software can be tailored to meet the specific needs of any project, regardless of size or complexity. As a business grows, the software can scale with it, accommodating larger projects and more sophisticated estimating requirements. This flexibility ensures that the software remains a valuable tool for any construction professional, from small contractors to large development firms. Conclusion The functionalities offered by construction estimating software have transformed the way projects are planned, budgeted, and managed. With features like estimating templates, calculators, live price-tracked materials, and auto project organisation, this software not only improves the accuracy of estimates but also enhances overall project efficiency. By integrating these tools into their workflow, construction professionals can ensure that they stay competitive in an industry where precision, timing, and cost control are paramount. Ultimately, construction estimating software is not just about creating estimates; it's about empowering businesses to deliver successful projects, time after time. Related Articles Top Construction Estimating and Planning Tools: Streamlining Project Success Project Estimating and Scheduling Construction Project Management Managing Subcontractors in Construction 15 Key Features of Construction Estimating Software What is Estimating Software? A Deep Dive into its Evolution, Functionality, and Impact 50 Construction Estimating, Scheduling and Management Tools

How to overcome limiting beliefs holding back your success Limiting beliefs hold you back from setting your goals and achieving your full potential. "Your beliefs become your thoughts; your thoughts become your words; your words become your actions; your actions become your habits; your habits become your values; your values become your destiny." Gandhi Like the brakes on a car, limiting beliefs hold you back from setting your goals and achieving your full potential. We will take a closer look at what limiting beliefs are and how you can identify and remove them. What are beliefs? Beliefs shape us like the clay in the hands of a potter. They determine how we think, how we feel, what we say and the actions we undertake. Our beliefs are based on past experiences which are now shaping our future. If we become what we think about most, then we become a reflection of our beliefs, both good and bad. Our thoughts come from our beliefs which then become our reality. When you have a belief about something, you’re more likely to see evidence around you that reinforces that belief and miss or discount anything that contradicts it. 5 examples of limiting beliefs and thoughts. Beliefs are assumptions and convictions we hold to be true about ourselves and the world around us. Beliefs become self-fulling prophecies that can hold you back or encourage you. You will have beliefs about success, education, money and morality and many other things, too. When combined with your core values, deeply held assumptions about ourselves and the world, you have a toolbox of attitudes and behaviours that you’ll be using in any given situation. People naturally recognise that someone who is determined and tenacious, who never gives up, is more likely to succeed than someone who procrastinates. Someone who believes they will succeed is generally more likely to than someone who doesn’t, irrespective of their talents. Health professionals recognise that the attitude, that is the way people act based on their beliefs, of a patient is a major factor in their recovery. In medical research, placebos have been seen to be as effective as many drugs. So, if you can think your way to health, then you can also think your way into being less healthy and less successful or more successful, too. The beliefs that others have of us can also play an important part in our beliefs about ourselves. What is a limiting belief? Have you tried to do something and failed, then not tried again? Why did you not try again? Why did you fail, and what defined failure? Did you take the failure as, ultimately, a positive experience or a negative one? While all failure is initially negative, it’s also a great mentor saying: “Don’t do it that way again”. And sometimes, experiencing why something doesn’t work is the only way to know why and how to do it better. Limiting beliefs are a state of mind that undermine your confidence and restrict you from pursuing a task you’d otherwise like to take on. They are assumptions about yourself, the world or other people that are holding you back from starting or completing a task. Limiting beliefs start in childhood, they are rooted in experiences and a way of thinking. Limiting beliefs can affect everything in your life; at work, at home and in many other areas. They place boundaries on what we think we can achieve. How is a belief formed? Beliefs are formed from experiences and from what we inherit from our parents much like we inherit many visible attributes from our parents, but unlike having blue or brown eyes, they are not fixed. As the report from the Baby Lab suggests, we’re born with a set of morals inherited from our parents, and some they teach us, which then evolve into our belief system over time and with experience. These beliefs can change over time as our experience of life evolves or if we deliberately challenge our own beliefs What is a core belief? A core belief is a deeply held assumption about ourselves, others, and the world around us. It forms the very essence of who we think we are and our opinions. Core beliefs can become self-fulfilling. If we think somebody or a certain type of person is a bad or good person, we are likely to treat them in a way that reflects that. This may encourage that behaviour in them and reinforce our belief in what they are like. The role of beliefs in our lives "Watch your thoughts, they become your words; watch your words, they become your actions; watch your actions, they become your habits; watch your habits, they become your character; watch your character, it becomes your destiny.” Lao Tzu We prefer people who we identify with most, be that their values, their beliefs, their attitude towards life or their behaviours. So, beliefs form a large part of our relationships and how we communicate with each other. This relates to all aspects of our life: work, professional and home. Knowing and being able to identify our own core beliefs and values will go a long toward helping us to succeed at whatever we are trying to accomplish. We may value honesty and believe that being honest is essential to success in life, or that other people are inherently dishonest and so make everybody sign a contract rather than rely on a handshake and a gentleman’s agreement. Identifying a limiting belief and removing it can help to increase motivation and engagement with a task. Limiting beliefs can be a healthy thing, too. Nobody should overcome the self-limiting belief that they can fly. Some self-limiting beliefs are good, sensible and help keep us safe and spend our time wisely. You may wish to become a best-selling singer, but if you’re tone-deaf, can't sing or keep time, that’s not going to be possible. Perhaps you settle for being an okay singer singing locally or pursue another interest. The challenge is in knowing what is actually physically impossible vs what you only believe to be impossible. With limiting beliefs comes victim mentality and imposter syndrome. Our beliefs can affect our health, from the healthy to the not-so-healthy food we eat, to the positive and negative thoughts we have. What is the relationship between attitudes, values and behaviours? What we think about controls how feel and the emotions we experience. What we feel controls how we act and how we behave. Having a positive attitude comes from having positive beliefs and positive values. If we believe on the whole that people are good and that one of our core values is that telling the truth is important, then we will have a positive attitude towards others, we are more likely to be truthful ourselves and trusted by others in return. What is an attitude? Attitudes are judgements on anything, whether somebody likes or dislikes something, finds it good or bad. Attitudes come from our values and beliefs. Carl Jung, in his essay on psychological types, defines attitude as “the readiness of the psyche to act or react in a certain way”. As such, attitudes will drive how we think, feel and act about things in our lives and about ourselves. Also known as the ABC model : affective, behavioural and cognitive. The affective component relates to emotions and feelings (the emotional part), behavioural relates to how we act or behave given the attitudes we have and cognitive relates to what we believe to be true (the logical part). Attitudes are based on our core beliefs and the behaviours that they motivate. For example, having a ‘positive attitude’ helps an individual to be motivated to start and engage with a task that needs to be completed. What are values? Values are core ideas and standards you believe to be true for you and how you should act on a day-to-day to basis. They help you prioritise and make ethical decisions. When you act and work in alignment with your values you generally feel good about yourself and life. Recognising they exist and what your core values are will help you make better decisions in life. The New Zealand Government places a lot of importance on happiness and wellbeing. It explains that on personal beliefs, values, attitudes and behaviour, values are: “stable long-lasting beliefs about what is important to a person”. Can values change over time? Values can change over time going from childhood to old age. The things that are important to us change. Experience and varying needs will change the values you find important. For example, security may be more important later in life and relationships earlier. As we said earlier, values are the ideas and concepts we were born with and formed as part of our childhood, those values become attitudes based on underlying beliefs. What is a behaviour? Behaviours are the final action based on our core beliefs and values. So we have values working with beliefs creating our belief system. Our thoughts, emotions and feelings are expressed as our attitudes with behaviours being the final visible action. These behaviours also determine how well we will be able to learn, acquire new knowledge and develop new skills. For example, with poor beliefs about school and little value in education, unhelpful attitudes are formed resulting in visibly poor behaviours towards learning. What are the causes of limiting beliefs? Limiting beliefs are usually rooted in experiences that have come to define how you see yourself, others and your capabilities. Some people are more predisposed to them than others. Those with a negative disposition may be more likely to have them than those with a positive disposition, but anybody can have them. Comments made to you, bad experiences, or just a lack of confidence can all hold you back. Understanding the source of your limiting thoughts or beliefs can help you to overcome them. Are your beliefs holding you back? Generally, positive thinking people with few limiting beliefs are healthier, live longer and are more successful, as reported in Can you think yourself young? Guardian article. Your limiting beliefs can stop you from trying something new. Moreover, they cause stress and unhealthy habits that can lead to depression and lower personal and professional performance. Limiting beliefs can stop us from leaving our comfort zone where life is relatively easy and risk-free but lacks growth and the opportunities to learn new things and take on new challenges. This might limit the extent to which you can achieve your personal and professional goals. Limiting beliefs can be subconscious or conscious thoughts about how you see the world, yourself and others. With limiting beliefs comes victim mentality and imposter syndrome. Not feeling that you are good enough can be a self-limiting belief that results in the imposter syndrome. Even though you’ve achieved a lot and you receive a lot of praise, you just don’t believe it’s real, and that you’re about to be ‘found out’. Believing that all our issues and problems are the result of other people’s actions, not our own, is self-limiting behaviour resulting in the victim mentality. What are examples of limiting beliefs? Typical examples of limiting beliefs or thoughts include: I’m not good enough; I can’t ...; I’m too old, too young; I don’t have enough ...; I’ll never be …; I’m not … enough; I don’t have the … They fall into these categories: Either you don’t feel you’re capable of starting the task due to a lack of skills, experience, money or time, for example. You can’t complete the task because it will never be good enough. That should you achieve your goal, you fear you won’t be able to sustain it, that you’ll be rejected by family and friends You’ve achieved your goal, but now you feel like an imposter, that you don’t deserve your success. Revered guitarist Eric Clapton had these thoughts. How to identify your limiting beliefs Is there something you’d like to do, to be or achieve but you are not currently working on it? That’s a good place to start. Become more aware of how you express yourself. Are many of your statements about yourself very negative? Speak with friends, family, and colleagues about something you might like to pursue. The only obstacle to doing this is that they may have been influenced by your own negative view of yourself or have their own issues stopping them helping you. So keep an open mind. We are all familiar with that little voice, the inner critic, inside our heads feeding us either negative or positive thoughts and emotions depending on what we’re doing, who we’re doing it with and what we’re seeing as a result. Become more aware of your inner voice and manage it in a constructive, positive way. Your business beliefs will shape your business like they do your life A positive attitude in business is essential for creating high-performance teams as there are just so many challenges to get through. Whatever plan you put together will likely fall at the first fence, and so you’ll need to constantly adapt to new challenges and lessons learnt. Positive beliefs then will help you become more resilient, develop essential business skills and create a business culture that will foster innovation, agility and motivation. Ray Dalio , founder of the investment firm Bridgewater Associates and one of the wealthiest people on the planet, identified his beliefs in his book Principles . 6 ways to overcome limiting beliefs So, to address limiting beliefs we need to identify their root causes and associated behaviours. You’ll have to start thinking in a new and better way. Perhaps the first thing to do is to act. There is no better motivation to getting started than actually getting started. The act of starting will spur you on, rather than waiting for the right time. Is this negative belief based on any facts, is there anything to suggest it is a limiting fact, rather than a limiting belief? Is the limiting belief only that it will make you slower or less good? If so, get started and find out, you’ll be surprised how much better you’ll get with practice. Ask yourself what would be the worst that can happen if you either start or complete the task. Persistence and tenacity are the hallmarks of success. Did you start something in the past, fail and then believe you couldn’t do it and didn’t try again? Well, go try again. If you improve even a little bit, you’re on your way. What we tell ourselves is important. Tell yourself you can, and there’s a good chance you’ll start to see you can. Look at those around you. Are they positive people? Are they successful people? How do you feel when you’re around them? Do you feel uplifted, inspired and motivated? Does a conversation with them make you feel good about yourself? Unfortunately, there are many people in life, even family and friends, who will resent your ambition and success if they haven’t experienced that for themselves. Movies and songs are full of that sentiment by successful artists. Adele and Lil Peep come to mind, among others. Perhaps the first step is to become more aware of our own thought patterns, how we react emotionally to certain situations and people. Once you become more aware of these thoughts you can challenge the perceptions that lead to those thoughts. Negative thoughts release chemicals in the brain that create feelings of stress and unhappiness. Positive thoughts elevate your mood and make feel more engaged, your actions, countenance and behaviours become more positive too. It comes down to the perspective you have as it relates to events and people in your life. 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

The 5 Golden Rules Of Great Customer Service Are you doing everything you can to help your customers? What else could you be doing? With the summer break looming it’s time for hotels and activities companies to start reviewing whether they are doing everything they can to attract new customers. Published on: 2 Apr 2015 With the summer break looming it’s time for hotels and activities companies to start reviewing whether they are doing everything they can to attract new customers. Elsewhere, at about the same time, retail businesses start thinking about how to make the most of footfall during the summer months. The tourist season is a short one and many businesses are heavily dependent on having a good season to keep their business afloat. However, have you ever had a call that goes like this? “Hello, Complacency Hotel, how can I help you?” “Hello, I would like to check your availability for the 29th February please” “What sort of room are you looking for?” “errr…” “Double, Single, Standard Double, Executive Double or Suite” “Just double thank you” “We have no doubles available for the 29th February” “Oh, ok. Thank you, bye” And the reservation is lost and the booking gets snapped up by Proactive Park Hotel down the road. Following the five golden rules of giving a great customer service experience could have not only saved that particular booking but could have resulted in repeat custom, and maybe even a booking for an executive double or even a suite, increasing that customer’s spend from maybe £300 to several thousand pounds over the course of a few years…and then there’s all the people they might have told about their wonderful stay… The 5 golden rules of customer service 1) Keep it professional Ensure your staff are not distracted by personal conversations or text messages. Limit mobile phones not needed for business purposes to the staff room and personal calls to a minimum. As a consumer there’s nothing more irritating than the till operator or call handler chatting to their sister/friend/boyfriend or even colleague whilst you stand there waiting to be helped. 2) Convey a consistent brand persona Train your customer service teams to project a consistent professional and efficient image. This will increase confidence within your customers and enhance the customer experience.a. Pay attention to how staff answer the phone b. Identify the information they need and ensure that you know where they can get it.c. Review your systems. An ineffective IVR will get rid of your customers faster than you can say ‘can I help you’. 3) Solve issues or concerns quickly. People are usually quite understanding about mistakes and problems occurring but incompetence in the resolution is a lot less forgivable. Find out how they would like the situation to be remedied and deliver it if you can (and if it’s reasonable). If you can’t then see consider how else you can remove any inconvenience that the customer has encountered as a result of the issue. 4) Know your products and services and get your teams trained in closing sales. Better knowledge of products and services means more than just additional money in your coffers. It also means more ways that your staff can help your customers. 5) Treat your customers like individuals. They have interests and personalities, questions and concerns. Addressing them as people and engaging them in conversation can go a long way towards building rapport and getting that sale as well as improving their experience of your business. You can achieve this through learning customer empathy. By this we mean, using techniques to understand the needs and feelings of your customers so you can treat them as the authentic individuals they are. These rules can be applied to any business, not just hotels and restaurants. By obeying the five golden rules of customer service you will find your conversions increase and your reputation improves overnight. 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

10 Small Business Improvement Ideas you can Implement Today Running a small business is a daunting task, especially if it’s your first. Knowing where your time and energy is best directed is a tough call to make. Published on: 11 Mar 2021 Running a small business is a daunting task, especially if it’s your first. Knowing where your time and energy is best directed is a tough call to make. Much of the advice around business improvement revolves around large and medium-sized companies, with large scale changes for specific departments. This is why we’ve put together our list of small business improvement ideas that you can implement today. Small Business Improvement Ideas 1. Create a Business “Toolbox” Your business toolbox should be a centralised, accessible hub containing essential documents and tools for smooth operations. Alongside your business and marketing plans, it’s crucial to have up-to-date financial software that provides real-time insights into your cash flow, taxes, and overall financial health. Consider adding tools for project management, CRM (Customer Relationship Management), and performance tracking. Organising this toolbox helps you stay aligned with your long-term goals while avoiding getting bogged down in daily tasks. Pro Tip : Digitise your employee manual and ensure it's accessible to all team members. It fosters transparency and consistency in operations. 2. Use Task Management Software Task management software allows better team collaboration, reducing the reliance on long email chains. Platforms like Trello and Google Suite offer free versions for smaller teams, allowing you to manage tasks visually and collectively. Asana and Microsoft Projects provide advanced features like automation, timelines, and analytics, which can boost productivity even further. Pro Tip : Assign clear roles in the software and set deadlines for each task, so responsibilities are transparent and measurable. 3. Automate Tasks Automation is no longer a luxury—it’s a necessity. Beyond just sending payslips or invoices, consider automating marketing activities like social media posts, email campaigns, and data entry. Tools such as Zapier or HubSpot can automate these processes, allowing you to focus on strategic tasks. Pro Tip : Start small. Automate routine tasks first, then gradually incorporate automation in more complex workflows as you see results. 4. Promote Open Communication Effective communication is the backbone of business efficiency. Cultivating an open feedback culture allows your team to express their ideas and concerns freely. Use tools like Slack or Microsoft Teams to streamline communications and ensure that no voice goes unheard. Pro Tip: Regularly ask for anonymous feedback to get honest opinions, especially on sensitive topics. This can help reveal hidden bottlenecks or areas for improvement. 5. Stay Up to Date Set up Google Alerts not only for your business but also for industry-related keywords. This will keep you informed about trends, competitors, and new developments in your field. Use tools like Feedly to aggregate industry news from different sources and stay ahead of the curve. Pro Tip : Regularly review and adjust your business strategy based on market trends to stay competitive. 6. Leverage Local Sign up for Google My Business and regularly update your profile to reflect current operating hours, services, and customer reviews. Participate in local community events or sponsor activities to raise brand awareness and build a stronger relationship with your local customer base. Pro Tip : Encourage happy customers to leave reviews online—this boosts your credibility and helps attract new business. 7. Strengthen Cybersecurity Small businesses are increasingly targeted by cybercriminals, making strong cybersecurity essential. Implement multi-factor authentication (MFA), firewalls, and regularly update all software. Conduct employee training on phishing and other online threats, ensuring they’re aware of cybersecurity best practices. Pro Tip: Use password managers to ensure your team isn’t reusing weak passwords and conduct periodic audits of your systems. 8. Be Less Transactional Shift from a transactional to a relationship-driven approach online. Engage with your audience through meaningful content that provides value. Focus on storytelling, customer success stories, or useful tips in your niche rather than constantly pushing promotions. Pro Tip : Regularly engage with your followers by responding to their comments and questions. This humanises your brand and fosters trust. 9. Make Meetings Productive Reevaluate how meetings are conducted in your business. Shorten meetings or eliminate unnecessary ones to ensure employees can focus on their tasks. Set an agenda for every meeting and stick to it, reducing time wasted on off-topic discussions. Pro Tip: Implement standing meetings, which naturally keep discussions short and to the point. 10. Take Downtime Seriously As a small business owner, the risk of burnout is real. Taking regular breaks not only helps refresh your mind but also allows you to return to work with a clearer perspective. Encourage your employees to take meaningful breaks as well to ensure their productivity stays high. Pro Tip: Schedule annual reviews for your own health and well-being, evaluating where you might need extra help or support. Small Business Coaching If you find yourself stuck on how to improve, seeking outside guidance can make a world of difference. Small business coaching services offer a fresh perspective, helping you navigate challenges and unlock your business's full potential. 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

10 Ways To Improve HR Performance This article looks at 10 ways to improve your current HR performance to boost efficiency and productivity throughout the workplace. Published on: 21 Jan 2021 It is essential for all businesses, large and small, to acknowledge the value of HR to their business. This article looks at 10 ways to improve HR performance to boost efficiency and productivity throughout the workplace. People are at the centre of your organisation’s success and therefore, they should be your prime investment. We believe creating value and investing in your employees is as fundamental as looking after your customers. HR has a vital role to play in this by curating a strong company culture and ensuring workers are given opportunities to flourish by adopting a Agile HR Operating Model. But beyond basic admin and employee paperwork, do you really know how to make the most of your HR department? 10 ways to improve HR performance Standardised Workflows to Elevate HR Performance One of the key factors in improving HR performance is the implementation of clear and standardised workflows. A well-defined HR workflow ensures that critical processes such as recruitment, onboarding, employee development, and performance reviews are handled consistently and efficiently. By setting up Standard Operating Procedures (SOPs) , HR departments can improve communication, minimise errors, and foster a culture of accountability. Key HR Workflow Areas: Recruitment and Onboarding: Automating job postings, application tracking, and onboarding ensures a smooth and consistent experience for new hires, reducing time to productivity. Performance Reviews: Structured performance review workflows help ensure timely and objective evaluations, promoting fairness and transparency. Employee Development: Establish a clear process for tracking employee progress and delivering training, ensuring that growth opportunities are well-managed and aligned with organisational goals. Compliance and Documentation: SOPs for maintaining compliance records ensure that the business adheres to legal requirements while reducing the risk of fines or penalties. Action Steps: Map out key HR processes and create a step-by-step SOP for each one. Incorporate digital tools to automate routine tasks, allowing HR to focus on strategic initiatives. Regularly review and refine workflows to adapt to changing business needs and improve efficiency. By implementing workflow management techniques into HR operations, you can reduce bottlenecks, ensure consistency, and ultimately enhance overall performance. 1. Improve your employee recruitment & selection process Ensuring the recruitment process is managed effectively is one of the first steps you should take to improve your organisation. Employing the wrong people can cost you in both time and money. A bad candidate who fails to fit in with the team can disrupt the company culture and create a loss in productivity. Spend time perfecting the job description. Promote your company and make it sound like an attractive place to work. Don’t just list skills - these can be enhanced with training. Consider hiring candidates based on the attitudes and qualities you value in your staff. Use all of the tools available to you to find the best talent, including LinkedIn and networking events. Ask for feedback from candidates on your recruitment process and implement their suggestions for improvement. Finally, ensure that your recruitment process is fluid and adapts well to changing workplace needs. 2. Improve communication in the workplace Effective internal communication is central to all business goals. It avoids confusion, encourages teamwork, allows for collaboration, provides purpose and creates a positive company culture. However, communication in the workplace is often insufficient. According to Entrepreneur, 46% of employees leave a meeting unsure what they are supposed to be doing next. The evolution of technology has given us many opportunities to improve communication through email, instant messaging and video chat services but using these tools is only the first step. Improving communication needs to come from the top – employees need effective and clear briefs that relate back to the business goals. They need to be given the opportunity to provide regular feedback and ask questions. Alongside clear business communication, employees should be given the opportunity to communicate socially at work too. 3. Invest in employee health & wellbeing A study by Oxford University’s Saïd Business School, in collaboration with BT, found that workers are 13% more productive when they are happy. Professor De Neve, who conducted the survey, found that there is ‘considerable room for improvement in the happiness of employees while they are at work’. There is much more emphasis placed on a good work/life balance today than there was 50 years ago. The coronavirus pandemic has had a profound effect on our mental health and wellbeing and employers need to consider ways to help their employees navigate these struggles. It can no longer be seen as a ‘personal issue’ that is entirely separate to work. Employee Wellness Programmes can be a great way to improve happiness, reduce absenteeism and boost productivity. 4. Offer employee training & development opportunities In a rapidly changing business environment, ongoing training is key to success. Often companies hire the right candidates and then the nurturing stops there. Five years down the line, that staff member is no further on in their career than when they started and they experience low job satisfaction. Ongoing training and career opportunities are vital to retaining your staff. Plus, staff with updated skills are confident and more engaged with the company, therefore increasing productivity rates. Ensuring your staff are trained and kept up to date with the latest developments in the sector can ensure you stay ahead of the competition. 5. Ditch the annual appraisal process Many companies still rely on the outdated annual appraisal to address employees’ strengths and weaknesses. No one looks forward to these arduous meetings that involve lengthy forms and awkwardly formal procedures. Twelve months is a long time in the business world and achievements that happened last year have become irrelevant and mistakes forgotten about. Ongoing, regular meetings help to focus on objectives, address issues as they arise and ensure achievements don’t go unnoticed. 6. Act on employee feedback The employee feedback process shouldn’t work one way. We often get caught up in telling our staff what they need to do to improve but we never ask what we need to do to be a better business. Your staff are in the perfect position to help you improve. Involve your employees in decision making, they have seen first-hand what does and doesn’t work. Ask them how you could improve company culture and employee satisfaction; what training they need and what processes could be executed better. 7. Recognise and reward employee achievements Everyone responds well to praise and appreciation both inside and outside of the workplace. Thank you always goes a long way. Putting a reward and recognition scheme in place improves productivity, increases job satisfaction, boosts happiness and creates loyalty. In a survey by Perkbox of 1,532 UK employees, 42% said receiving greater recognition for their work would make them happier in 2021. There are a number of ways to recognise staff, this could include social media recognition, awards for meeting core values, end of year awards, colleague thank yous and long service awards. 8. Develop and share your company’s purpose and passion Your HR department is perfectly positioned to share the company vision and value with all employees. Firstly, you must identify your organisation’s purpose and ensure everyone in the company is actually aware of it. Are you articulating it clearly? Do they understand how their role contributes to the organisational goals? Regular communication is key in sharing your message. 9. Empower your team and build trust Business success relies on a whole team of people collaborating and sharing their ideas, success is not due to one single person at the top barking orders. Micromanaging can demoralise your employees, result in frustration and limit their creativity. You need to listen to your employees, challenge them to think outside the box, implement their ideas and trust them to make decisions. Being ordered to do something tends to negatively impact on our motivation. However, when we’re included in the decision-making we feel part of the bigger picture and our productivity improves as a result. Empowered employees are more likely to go the extra mile for you. 10. Redefine the employee experience & workplace COVID-19 has profoundly changed the face of the workplace and encouraged businesses to adopt more flexible approaches to working. Gone are the days of long commutes and 9-5 structured workdays. Prior to the pandemic, flexible working was still a privilege reserved for the select few, with many still cramming soullessly onto the tube for the morning commute. Flexible working allows for a better work/life balance with increased childcare opportunities, less time wasted travelling and helps prevent employee burnout. As things begin to return to normal over the next year, it is essential to consider the new face of the workplace. Allowing a blended approach to office and home working could help increase workplace productivity and improve employee wellbeing. Summary: Happy, skilled and valued employees boost workplace efficiency, look after your customers and witness increased productivity levels. At Awardaroo, we believe employees should be at the core of your business and therefore Human Resources should be your most valued department. By following these 10 ways to improve your HR performance, you should begin to see increased efficiency, productivity and overall business success. 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

Neil Lawson of Geoenergy on Heat Pumps Neil Lawson of Geoenergy Discusses Heat Pumps Heat pumps are highly efficient heating and cooling systems that extract heat from the air, ground, or water sources and transfer it indoors or outdoors as needed. They offer significant energy savings, lower utility bills, and reduce greenhouse gas emissions. NEIL So this is one of the biggest things that's being missed is, if you were to ground couple your cooling and store the energy in the ground, you can halve the carbon of cooling where they store the waste heat refrigeration in the summer and use it to heat in the winter. PAUL Hello, and welcome to Rethink What Matters, the podcast dedicated to aligning the economy with the ecology and everyone for improved business performance, stronger families, and a greener, cooler climate. And today, I'm going to be talking with Neil Lawson of lowcarbonfarming.co.uk. And we're going to be talking about something every one of us should be using, and that's heat pumps. So yeah, great to be speaking with you about heat pumps because they’re some kind of a miracle device, aren't they? It generates something like four hundred percent efficiency. So definitely interested to learn more about that. And I went to lowcarbonfarming.co.uk, your website, and it says here, “The way we produce food needs to become more sustainable and less damaging. With this in mind, the Low Carbon Farming team set out to improve greenhouse heating systems to meet this challenge, and in doing so, created a world first.” NEIL Well, a little bit of background about that story. It all comes from walking down the river behind me one day and noticing some ducks enjoying a swim on an area that was slightly steaming, which got my interests going. So I followed the little stream that they were on which is a little tributary into the Thames, followed it up to its source, and it arrived at the Oxford sewage treatment works. So literally knocked on the door, asked what it was about, learnt a bit more or was invited in officially to learn a bit more about their process and a quick five packet calculation when I was there, there was around enough heat to heat fifteen thousand homes just being discharged into the river. So this was a a plentiful source of heat that every city would have through its water recycling centres. You basically take all the raw sewage and rain water goes into a sewage treatment works and it comes out as clean water which is discharged into the river. That clean water has a heat value. So it's anywhere between nine and twenty five degrees centigrade depending on the time of year. That's a very abundant source of energy for a water source heat pump. So took that idea, looked for something which was a large demand and that was seen as greenhouses, building them local to cities would be good for food miles or transport miles rather than we currently ship things in from Morocco and Southern Spain and the idea went from there. The world first aspect of it was taking waste heat from clean water discharge into a river and using that in a heat pump. When I do a show or a panel discussion, one of my favourite questions is, “Hands up who's got a heat pump.” Two or three people put their hand up and I enjoy pointing out that everyone has a heat pump. It's the fridge in the kitchen. That is fundamental heat pump. PAUL But I think if you put your hand behind your fridge, It's pretty warm back there. Are there other areas other areas of industry? NEIL Every city has a housing need, has a schooling need, has a heat need. PAUL Right. So anywhere you require heat, it's applicable. So this sounds too good to be true in a way. All this heat, this you know, out there that's going to waste and we can turn it into usable heat. What are the challenges in doing this thing? NEIL It's actually recognising the opportunities, a heat pump in the heat pump cycle, the refrigerant boils at minus twenty. Anything that's warmer than minus twenty is a useful heat to us the warmer the better. The joy of the sewage treatment works was it was between nine and twenty five degrees C, so you get very efficient heat pumps, but we just need to look around this. Power stations got huge cooling towers which are pumping out steam although thermal power stations are less and less these days. Data centres are being built everywhere they have to cool their processes inside. So they do that by rejecting heat. PAUL You mentioned minus twenty. Anything over minus twenty? It's pretty much everywhere, isn't it? NEIL It is. Hence, heat pumps work in Scandinavia where their temperatures are very cold even on their source heat pump. The heat pump cycle is a quirk of physics. We harvest low grade heat by boiling refrigerant, turning it from a gas to a liquid and then compressing that. So turning it from a liquid to a gas and then compressing that gas again back into a liquid and the byproduct of that compression cycle is heat, which is what we harvest to do space heat or hot water heating. PAUL I need to just try and think about that a little bit more. I know you can't -- it's just not possible to get some more out than what you put in no matter how clever the technology. What's actually happening here? NEIL Well, if we talk about the efficiency and we hear words of four hundred percent or five hundred percent, but actually that efficiency is the ability of the heat pump to turn one kilowatt of electricity which is used by the compressor which is compressing maybe three kilowatts of low grade heat which have been harvested from the surroundings outside around us, whether we water or air or a waste heat from somewhere else. So it's one kilowatt of electricity plus three kilowatts of low grade heat which is free and that generates four kilowatts of useful heat. So that's where the four hundred percent efficiency comes from. PAUL But if you've got something that say minus ten, what can that become? NEIL With the efficiency of a heat pump is its ability to take the low grade temperature and turn it into a high grade temperature. So if for example you have air at minus ten, which we do in winter, to produce fifty degrees centigrade into your radiators, the heat pump or the compressor is having to lift it from minus ten to plus fifty. So it's a sixty degree lift and those efficiencies will be closer to two hundred percent hence the warmer our waste heat, the more efficient the system. PAUL Are there other examples you could give us of where heat pumps have been used to great effect? NEIL Yeah. So we are used to heat pumps for cooling, perversely every office or building has a gas boiler for heating and a heat pump for doing cooling. But that same heat pump could do both heating and cooling. So they're seasonal. So we just have to challenge the status quo or the norm of building services engineers who are very used specifying gas boilers and heat pumps to make them think about air source which can do both or even ground source. The challenge with air source is we are venting our waste energy into the atmosphere, into the air and waving goodbye to it. If we were to employ ground source, we're capturing that waste heat and we're storing it in the ground for the opposing season. So if we use our heat pump in summer to cool down our building, we put the waste heat into the ground. It's then there and available for winter when we want it for heating. So this is one of the biggest things that's being missed is (that) people talk about the decarbonisation of heat because we're used to fossil fuels. But if you were to ground couple your cooling and store the energy in the ground, you can halve the carbon of cooling or the cost of cooling. Which is something that's been done successfully in supermarkets, such as Sainsbury's. They installed around thirty of their supermarkets with ground source heat pumps, where they store the waste heat from refrigeration in the summer and use it to heat in the winter. And their biggest benefit or cost benefit was the fact that they halved their cooling costs. PAUL Presumably it's quite an expensive exercise. They're quite capital intensive. Maybe less easy for private residences, you know, people at home to implement. NEIL Well, if we talk about the challenge and the capital expenditure, we're talking about a ground source heat pump or a water source heat pump and your energy is very low. It could be under the house, it could be under the building, it could be in the river next door. What it needs is investment from someone like government to start communal collectors getting together where we can share heating and cooling. So we talk about district heat schemes. We currently have a third generation district heat scheme is the burning of fossil fuels to generate heat. A fourth generation is a mixture of fossil fuels and low carbon. So a mix of the heat pump and a gas boiler. A fifth generation is an ambient heat network or a condensed solute. So this is this is a pipe full of water effectively that could be anywhere, it could be around ten, twenty degrees centigrade and it's sufficient for people who need heat to absorb heat from it. Those who need cooling to reject heat into it. So this is where you start to join the various users together and suddenly your efficiencies -- if one kilowatt of electricity into a compressor can generate four kilowatts of heat. At the same time it generates three kilowatts of cooling. So suddenly you've got an efficiency of seven hundred percent. PAUL So what are the problems in take up here then? Is it just the alternatives are less efficient or just cheap? NEIL Gas is cheap. We've had it since England converted from town's gas to North Sea gas from the seventies onwards. So we're talking about a whole new technology. That investment that went into the gas main and gas infrastructure now needs to be put into a communal collector or fifth generation heat network. Then suddenly heat pumps in a box will come down in price as volume goes up. And if we can get it to the point where we just connect to the pipes in the road like a gas boiler, suddenly it's like flight. But that asset in the ground has a sixty plus year lifespan. Yes. So we talk about heat and people think of hot water or sixty five degree centigrade, that's what we have to store. But if we're to store a load grade heat, maybe twenty degrees, that actually takes the pressure off the grid because in winter when you need your heating most, your base temperature of twenty degrees is a lot warmer than your air source heat pump is trying to harvest from something like minus eight and thermal mass should be in a building level. So a building is built of bricks and mortar and has a thermal vest to it. So you all don't need to come home and turn your heating on at six o'clock and hit that big peak. It's now all about matching supply and demand, removing those peaks and reducing our generation costs. PAUL I was speaking with the university earlier today they're looking at smart heating and distributed heating and looking at heat pumps, too. And they mentioned aqua heat pumps and using the water in the ground as opposed to the ground. Is that a third type of heat pump, or is that just ground source, by another? NEIL No, we would call that a water source. So if you take London for example, it's built on a huge chalk aquifer. So if you drill down sixty five metres in central London or so, you get into a big lake. And actually that water level is rising and starting to threaten the underground. So there have been a lot of studies on dewatering the underground. And there's, as an example, there is passive cooling of Green Park tube station which are wells drilled near the tube station, extracting water from the aquifer, go through heat exchanges to cool the tube and then discharging back into the aquifer again. There's about one point eight megawatts worth of waste heat there that could be used by an adjoining building. PAUL Just thinking about a company that's maybe a data centre then. What could they look for to see if heat pumps could work for them? NEIL So data centre probably already has a heat pump, but they call it a chiller. So, it's currently doing their chilling and it's venting all the energy into the atmospheric air, but the people who design and build data centres are very precious about a tried and tested system. They're very reluctant to try something new. So here we need to challenge now. PAUL Mission critical question. You don't want those computers to cook. Maybe a different example then. NEIL There was an article on the Telegraph a few days ago about due to the sudden heat wave they're having to fire up some coal fired power stations to produce enough electricity to provide people with Tulum as the air conditioning systems come on. Right. So going back to the example of -- PAUL That's mad, isn't it? That's crazy. NEIL It is mad. If you had stored your waste coof from winter in the ground, you could now be using it passively. Passively means you're not running a compressor. You're just running a circulation pump and bringing out water in the ground that's say five or six degree centigrade. And that's more than capable of cooling a building whether it be a domestic property or a commercial building. PAUL Right. Okay. So a hot country is making good use of this then. NEIL So take a hot country, Dubai or something like that, desert, very hot. All of their cooling is done through cooling towers. Where they're effectively evaporating water or try to discharge their heat into the atmosphere. If they were to put pipes into the sea and take seawater at a deeper level, they could bring the cost and therefore the carbon and the energy required and they're cooling way down. PAUL And so this is quite a relatively new technology. Is it being developed at a great rate? Is there a lot of investment going into him heat pumps and improving the technology? NEIL So in the UK there's an aspiration to have six hundred thousand heat pumps installed a year by 2028. But there is no -- apart from that policy and that headline, there's no drive behind it. Our biggest challenge today for domestic heating is the spark gap. So the cost of electricity is more than four times the cost of gas. Therefore your heat pump has to be more than four hundred percent efficient. The cheapest type of heat pump is an air source and a lot of funded systems going in our air source heat pumps. They use the boiler upgrade scheme which is a five thousand pound grant, but it’s going to cost them more to heat their homes if they get an efficiency of two hundred fifty percent. It's going to cost them a third more to heat their homes. When utility bills have gone through the roof, very few people could afford that extra current. PAUL And what about on the maintenance side of things? Is it more? Is it quite costly to maintain? NEIL There are very few moving parts. If you look at an air source heat pump, you have a compressor and you have a fan, and an expansion valve. In the ground source heat pump, you'll have compressor and a circulation pump on the ground side. So very few moving parts. So the longevity of a ground source heat pump is potentially twenty five years, an air source heat pump anywhere between ten and fifteen. That depends on its location. Is it near the seaside? It's the salt corroding the fins, are there leaves or trees around that sort of thing? PAUL So it sounds like that it’s, from a maintenance perspective, not overly complicated or difficult to take care of it. Everything is buried in the ground somewhere and you've got to dig it up, you know, every ten years or whatever. So it's accessible. NEIL Yes. Very, very accessible. In fact, one of the things about ground source heat pumps is very much a hit in the discrete technology. So it is buried in the ground because it's probably a fluid around the ground. PAUL But the domestic market, you mentioned there are some targets there. But they're not going to be able to -- I mean, people don't have the money to buy them in, you know, and implement them at the moment. So there's definitely some work to be done, isn't there, to get people to actually start taking up heat pumps domestically? NEIL Yeah, if we look at someone like Jersey, their energy tariffs are -- they have a heat pump tariff which is twelve pence per kilo hour for electric see. Their gas is eighteen pence per kilowatt hour. So if you look at the efficiencies, if it's a four to one, it’s going to cost them three pence per kilowatt hour for their useful heat from their heat pump. And if it's eighteen pence for gas and it's ninety percent efficient. It's going to be about twenty pence per kilowatt hour or useful heat from their gas boiler. So suddenly you can get a payback in your heat pump. It's massively cheaper to run. PAUL Right. Just explain the spark gap again, please. NEIL So we look at the cost -- PAUL That's the difference between gas, and the electricity price, I think you said. NEIL Yeah. Exactly that. So currently, gas is-- sorry, electricity is more than four times more expensive than gas. And perversely, our electricity price. PAUL And why is it called spark gap? NEIL I don't know. It's just a terminology that's been adopted. Probably it's the spark that was – PAUL Let me talk of the stalker and gas music burners. NEIL Yes, exactly. But perversely, our electricity price is driven by the price of gas because we're very reliant in our currently centralised grid while using gas peaking plant to make up the difference. And we also have the green levies. The green levies were put onto the electricity price whereas now they should be put onto gas to decarbonise. PAUL We've really talked a lot about how to implement and how they work and how applicable they are. But we're really being driven here by the environmental side of things. Because, you know, environmentally, they're much better on there. They they're not producing lots of CO2 and nitrogen. So what's the environmental footprint like? NEIL Our point of view is for a heat pump, there are no emissions. You can have them in a house, there's no CO2, there's no carbon dioxide, there's no NOx as you say. There is an argument that we're reliant, we're quite reliant on gas and potentially coal at the moment. So there's a very good app called Grid Carbon which you can log into. And you can see what the grid carbon content or the carbon content of the grid is at an instantaneous moment in time. PAUL Yeah. Exactly. So we need to, I think, pay more attention from environmental standpoint. NEIL If you go back to the first months of COVID, there were satellites in space that could monitor CO2 or greenhouse gases and the cities which is clearing. That's a lack of use predominantly from cars and vehicles, but gas boilers are the same. They do produce CO2. PAUL And heat pumps are, you know, are a big part of low carbon farming because they're so efficient. Because they're taking heat which already exists, using that to heat the green houses, if I've understood this correctly. They're not-- there are no carbon, there are no toxins coming out of it, no climate warming gases, CO2 and the and the rest of it. So our heat pumps and low carbon farming. These two are made for each other, are they? NEIL They are. Especially in this country. A lot of our tomatoes, peppers, and cucumbers are imported from Spain and Morocco and Portugal. And actually by importing from there, we're exporting grouts. A drought. We have a huge rainfall in this country. In our two greenhouses, all the rain, we capture off the roof, we store in reservoirs, and we use to water the plants. So we're not importing any water. There is actually a need for CO2 to feed the plants for the photosynthesis cycle. And we do that by using CHP gas engines but we pump all the CO2 from the exhaust into the greenhouses to feed the plants. We mustn’t forget that heat pumps also run on electricity. PAUL Yeah. I know. I mean, I think we have to-- there (has) to be two separate conversations, I think. I think we have to separate the efficiency of taking the energy and converting it into whatever we want versus the sourcing of the energy. You know? So, you know, if you plug one of these heat pumps into a wind turbine, or a solar panel, you know, then we've got what we want then, I think, haven't we? We've got something which is completely clean. NEIL Exactly that. The village where I am here, we developed and built the largest hydro on the Thames in our little village which we then crowd funded out to the local area. So we got four hundred forty kilowatts of hydro in the river which runs pretty much all the time. So we could heat and cool and generate electricity for our village out of the river with absolutely zero carbon. That's one of the best examples, potentially, utopia. PAUL Brilliant. That's fantastic. Yeah. Well, that's it. We need to start using this utopia word a little bit more often, you know. Because we need to be heading towards a good vision here. How many people or houses is that looking after? NEIL We're not, sadly, we're not doing it yet because the electricity goes into the grid and gets lost. But on paper there's no reason why we couldn't. So we've got, with thousand people five hundred houses. Actually the Sandford-on-Thames or the mill used to be the paper press for Oxford University. So it was a mill generating its power from the river. PAUL There must be quite a lot of loss though in putting that energy into the grid to got to travel down the wires and then get sent off into various different locations. So I should imagine quite a bit if it gets lost in the process of distribution, transmission? NEIL I think it gets used locally. The biggest loss is actually we sell the electricity for five and a half pence per kilowatt hour and I have to buy it four hundred metres away for thirty-four pence per kilowatt hour. So I think I suffer the biggest loss which goes to the big six. PAUL Yeah. Well, you know, we want to get this message out there. You know? So you could do a lot more if you got more, and you and your business could do a lot more if you got more of that money. And which countries are we looking to for inspiration here? Are we leading the world with this? I think you mentioned Germany. Or Scandinavia? Or who's ahead of the curve here with heat pumps or low carbon farming? NEIL So if we look at heat pumps, definitely Scandinavia. Their heating oil prices were at petricom prices. So they've been incentivised since the fifties to make their homes efficient. Not only thermally efficient but also in the use of heat pumps electricity. So a lot of the challenges that we think are stumbling blocks, they've overcome. And we need to be looking to them and taking note of what they do. So we talk about the grid can't support all of these heat pumps. Every house in Sweden has a sixteen and three phase supply which is about twice the size of what we have here. But on their heat pump they have a monitor. So if the cooker is on and the freezer is on and the washing machine's on and the heat pump holds off for all of five, ten minutes, you're not going to see the house go cold in that time. It just stops you drawing all the way in the peak. These are the sort of-- this is what a smart metre should have been for. Sadly we have installed a whole network of dumb metres. PAUL Okay. But that's being corrected, I think, isn't it? Because you hear a lot about smart metres today? NEIL Smart metres are good for the utilities to remotely read your bill, but they haven't taken them any further. I remember tomorrow's world diagram, if you remember that, back in the seventies. PAUL Of course. NEIL Yep. They had a programme where you could have an intelligent metre that could turn your fridge on and off, turn your freezer on and off, your washing machine and things like that and control what's going on with your grid. Sadly, it never happened. PAUL So from your perspective then, Neil, in your customers and your clients and, you know, the clients that you'd like to have. Are there smaller budgets that you work with or, you know, domestic? Just give us a bit of a feel your typical clients are in. NEIL So, currently, we don't. Currently, we don't have a typical client. We work from domestic all the way up to commercial. We currently, there's a lot of investment in the public sector decarbonisation scheme. We're involved with that. We work as assessors for Salix, so we review the bids. We also do feasibility studies for clients and we'll do detailed design for contractors. One of the gaps I identified in the market was there are a lot of people out there who can weld pipe, fit pipe drill holes and things like that. But what was really missing is the in-depth knowledge of applying a heat pump. So we have a design team of seven engineers who were probably the most experienced in terms of years within the country and have a huge, not only do we design, but we have experience of installation, commissioning, operating running and servicing heat pumps. So happy to talk to anyone who is considering their energy has heating loads and cooling loads. And is serious about doing something not just offsetting by a little bit of forestry in the Amazon. PAUL Yeah. I know this whole offsetting thing is yeah. I got to try and not offset, basically. Well, offset as little as possible, haven't we? Brilliant. Alright. I really appreciate your time, Neil on this podcast. It's been really insightful. We've learnt a lot. If somebody wants to get a hold of you, what's the best way for people to get a hold of you? Where should they get which? Should they go to lowcarbonfarming.co.uk? NEIL Or geoenergy design or geoenergy.co.uk PAUL Once again. Thanks very much, Neil. NEIL No problem. 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The Power of Sustainable Innovation: Real-World Case Studies Sustainable innovation transforms industries. Companies like Tesla, Unilever, Patagonia, Interface, and Danone prove that profitability and purpose harmonise through eco-friendly strategies, securing a brighter, responsible future. In an age defined by environmental concerns and heightened social responsibility, the integration of sustainability into business strategies has become paramount. Companies worldwide are embracing the notion that sustainable innovation is not only an ethical obligation but also a source of innovation, competitive advantage, and profitability. This article will explore real-world case studies of companies that have successfully embedded sustainability into their core business strategies, highlighting their innovative approaches, the challenges they encountered, and the tangible benefits they have reaped in terms of profitability and purpose. Tesla: Revolutionising the Automotive Industry When you think of sustainable innovation in the automotive industry, Tesla inevitably comes to mind. Founded in 2003 by Elon Musk, Tesla's vision was to accelerate the world's transition to sustainable energy. The company's groundbreaking electric vehicles (EVs) have disrupted the traditional automotive industry, demonstrating that sustainability can go hand in hand with innovation. Tesla's innovative approach began with the production of high-performance electric sports cars. These vehicles not only reduced greenhouse gas emissions but also shattered preconceived notions about the capabilities of electric vehicles. The company then expanded its product line to include more affordable models, like the Model 3, making sustainable transportation accessible to a broader audience. Tesla's challenges included battery technology development, charging infrastructure, and navigating regulatory obstacles. However, their unwavering commitment to sustainability led to groundbreaking solutions. Tesla's Gigafactories manufacture batteries at an unprecedented scale, reducing costs and increasing the range of their vehicles. Their Supercharger network addressed range anxiety, offering fast charging capabilities to EV owners. The result? Tesla has not only driven the adoption of electric vehicles but has also become one of the most valuable companies in the world, proving that sustainability can be a catalyst for business growth and success. Unilever: The Sustainable Living Plan Unilever, a multinational consumer goods company, set a shining example in the realm of sustainability with its Sustainable Living Plan. Unilever recognised early on that its products' environmental and social impacts needed addressing. Their innovative approach was to fully integrate sustainability into their business model, all while striving to double the size of the business. Unilever's challenges were vast. They had to reassess their entire supply chain, ensuring it met sustainability standards. This involved finding sustainable sources for raw materials, reducing waste, and minimising their carbon footprint. They also set ambitious goals, like helping more than a billion people improve their health and well-being and reducing their environmental impact by half. To meet these goals, Unilever focused on product innovation. They developed products that were not only environmentally friendly but also addressed social issues. For example, their Lifebuoy soap initiative aimed to improve hygiene in developing countries. They also acquired companies like Ben & Jerry's and Seventh Generation, known for their commitment to sustainability. Unilever's Sustainable Living Plan not only improved their environmental and social footprint but also bolstered their brand image and bottom line. The company reported that their sustainable brands grew 69% faster than the rest of the business in 2018. This case study exemplifies how integrating sustainability into core business strategies can drive revenue and enhance brand value. Patagonia: Leading the Way in Ethical Apparel Patagonia, an outdoor apparel company, has long been a trailblaser in sustainability and ethical business practices. Their commitment to sustainability goes beyond mere lip service – it is ingrained in the company's DNA. Patagonia's innovative approach to sustainability is anchored in the belief that less harm means more good for the world. One of their most remarkable initiatives is the "Worn Wear" program. This program encourages customers to buy used Patagonia items, repair their old clothing, or trade in used items for store credit. This not only extends the life of their products but also minimises waste and promotes responsible consumption. Patagonia has also taken a stand against "fast fashion" by encouraging customers to buy fewer, high-quality items that last. Their commitment to environmental responsibility led them to donate 100% of Black Friday sales in 2016 to grassroots environmental organisations, contributing over $10 million. Challenges faced by Patagonia included navigating the complexities of their supply chain and balancing sustainability with profitability. However, their innovative approach and unwavering commitment to environmental and social responsibility have led to remarkable results. Patagonia's revenue has continued to grow, demonstrating that consumers are increasingly valuing ethical and sustainable brands. Interface: Sustainability in Carpet Manufacturing Interface, a global manufacturer of modular carpet, is a prime example of how a company can completely revamp its business strategy to align with sustainability. Their founder, Ray Anderson, underwent a transformative journey when he realised the environmental impact of his business. Interface's innovative approach was to adopt a mission to become the world's first environmentally sustainable and socially responsible company. Interface's journey was marked by challenges. They had to reimagine their entire production process, making it more sustainable. They introduced innovative technologies like closed-loop recycling, where old carpets are collected, recycled, and used to make new ones. This reduced waste and resource consumption while saving money. The company also pursued a goal to source 100% of its materials from renewable or recycled sources. Their innovative approach to sourcing led to partnerships with suppliers who shared their sustainability goals. Interface also aimed to achieve zero net emissions, pushing them to invest in renewable energy and reduce their carbon footprint. The results have been remarkable. Interface has reduced its environmental impact, increased customer loyalty, and improved its bottom line. Their dedication to sustainability has not only paid off in terms of profits but has also solidified their position as a leader in sustainable business practices. Danone: Nurturing a Sustainable Food System Danone, a multinational food-products corporation, has undertaken a journey to transform the way they do business, focusing on healthier and more sustainable food products. Their innovative approach is guided by their "One Planet. One Health" vision, which aligns business success with the well-being of people and the planet. Danone's challenges included transforming their product portfolio to offer healthier options, reducing their carbon emissions, and promoting sustainable agriculture. They've invested in research and development to create healthier, more sustainable food products and have implemented sustainable farming practices. One of their most notable initiatives is the Danone Ecosystem Fund, which supports local farmers and communities in developing countries, helping them adopt sustainable agricultural practices. This not only improves the livelihoods of farmers but also secures a sustainable supply of raw materials for Danone. The company's commitment to sustainability has resonated with consumers, making them a preferred choice for those who value healthy, sustainable food products. Their revenue growth is indicative of the profitability of aligning business strategies with sustainability and health. These real-world case studies underscore the power of sustainable innovation in transforming companies and industries. They demonstrate that integrating sustainability into core business strategies can lead to innovative solutions, increased profitability, and a stronger sense of purpose. By embracing sustainable practices, companies can not only mitigate environmental and social challenges but also thrive in an increasingly conscious and responsible world. The time for sustainable innovation is now, and these case studies provide a compelling roadmap for companies looking to make a positive impact on the world while growing their bottom line. 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

Matthew Unerman Food Waste Recovery Matthew Unerman Food Sustainability Manager Discusses Food Waste Recovery Food waste recovery refers to the process of reclaiming and repurposing food that would otherwise be discarded. It is a sustainable approach aimed at reducing the environmental and social impacts of food waste. Through various methods such as composting, anaerobic digestion, and food redistribution, food waste recovery helps minimise methane emissions from landfills and alleviates the strain on natural resources. MATTHEW And because retailers don't want empty shelves. They always have food there. They have way more food than anyone possibly buying. So this inevitably causes the accountability of that returned food waste from the retailer goes back to the producers or to the farmers PAUL Hello and welcome to Rethink What Matters, the podcast dedicated to aligning the economy, with the ecology and everyone for improved business performance, stronger families, and a greener, cooler climate. And today I'm joined by Matthew Unerman, Food Sustainability Manager at Compassion in World Farming. We're going to be discussing food waste recovery. Great stuff. Great stuff. And you know, I came to you through your Embrace the Waste TED Talk. Could you tell us a little bit about your journey then that brought you to embrace the waste? MATTHEW I'll give you two versions. I'll give you the one I told people and the BBC and whatnot when I had the interview. And then also the truth. PAUL Okay. We get the exclusive. Thank you. Thank you. MATTHEW The version that I tell was that I was at university, attended Durham University studying anthropology. And at that university, you've got a collegiate system. And most colleges, their first year students are catered for. And go, you know, you pay however many thousand at the start of the year, and you can get three meals per day. When you're a second or third or fourth year, you don't get that anymore. So, I was in college revising for my exams. At the end of lunch, I see this huge amount of food waste being thrown into the bin and this ignites a fire in me. And I know I have to take action to solve the issue. Now, this is what I'll tell you - the truth. Most-- All of that was true. The key thing was, when I was a second year, I wanted some free lunch. So I went to the end of lunch a saw all of this extra food and I said, look, you know, can I have some of these chips that no one's eating then? And they said no, and in front of me, put it in the bin. So at that point, I was hungry and angry. So that's what I thought, right, let me take some action. So I went home that day. I drew on a little bit of cardboard I had, messaged all my friends. I said, guys, we need to protest. This is ridiculous. There's an abundance of food, students are hungry, it's a very expensive city to be in. And I said, come join me for a protest. So I rock up the next day with my placards, and no one joins me. So I sit down and I think five days, six, seven days, I was protesting every lunch. Getting some petitions, getting general support. No one sat with me, but I had the words of encouragement until the kitchen manager finally agreed to work with me to implement this initiative. For the final ten minutes of the meal second, third or fourth years could come pay a charitable donation and get food if there was food left over. PAUL Right. Okay. No. It's a huge thing. And so you started to research it more and you got more involved with it, I should imagine, and understanding the bigger wider impact of food waste. It's not just what we put in the bin, is it? I mean, it's a much bigger problem. It's much bigger problem than the chips that they throw in the bin in front of you. MATTHEW Exactly. Yes. Back then, when I thought I understood food waste, now being able to look back years later, and I'm sure in however many years I'll look back at myself now and think to say, you know, “How naive.” But having worked in sustainability and being a food waste consultant, co-chairing a B corporation food waste working group, I've come to understand and not more how food waste occurs all across the supply chain and has-- I don't know if it's made me more optimistic or more pessimistic. I definitely fluctuate between them. But it's been an interesting journey to get myself to being on this podcast, I guess. PAUL Can you just give us a little insight into why you might be pessimistic and sometimes why you might be optimistic. MATTHEW I'll start with the pessimism actually because then I can end on the more optimistic note. I think just seeing the numbers and understanding the drivers, seeing the slowness in policy. And just-- I think stepping out and seeing how people interact with the world. It's something that I think will take a huge amount of wealth and legislation and money to solve. And when you've got a million other problems in the world, it might slip through the gaps. And we've seen that. We've seen that with mandatory food waste reporting. It just keeps getting pushed on. And I think when you ask people, do you care about food waste? They say yes. It's a visceral feeling when you see food being thrown in the bin. No one's happy with it. But then when you look at how people live on a day to day basis. That concern for food waste doesn't necessarily translate into action. Now, why am I optimistic? I'm optimistic because people are talking about it. It's become very trendy, I'd say, over the last five years. People are doing podcasts on it. PAUL (Laughs) Really? MATTHEW Founders in this space are getting headlines you've got too good to go. You've got Olio. You've got Winnow. All of these businesses, which are looking to tackle nuance as a food waste to getting a lot more press. I think AI is helping a lot. PAUL What is helping a lot? Sorry. I missed that. MATTHEW Artificial intelligence is helping a lot. I think you've got greater consumer buy in. But I'm hoping it's not a trend, like, deforestation, like plastics. These things, they get the spotlight, and then it'll all sort of tails off. And a lot of the great work that was done falls to the wayside and they change and pivot the focus. So I hope that doesn't happen with food waste. PAUL I'm hoping that Awardaroo can be part of your optimistic picture because, you know, what we're about at Awardaroo is a part of it is education and really spreading the word. And it's about it is about mindset, and it's very much about behaviours. And it's about identifying simple things that we can all do that are, like, form the domino where all the other dominoes fall over. So just, you know so basically, there are there are three. First one is litter. You know, if we all pick up litter, then we empower everybody else a pickup litter that drives a community-based sort of view of things, and it's very powerful. It doesn't go into-- it doesn't become pollution. And the second one then is food. Food waste. But actually, it's expressed as cooking from scratch. You know, because if we all cook from scratch, we solve so many problems. First of all, we solve the food waste problem, and that's all of the energy that goes into the food waste, not just what goes into the bin. But also, you know, we take away all the packaging that goes with it, which is another huge issue. And we also get rid of all of the ultra-processed food, which is so damaging to everybody's health. We also create stronger families because it's nice to sit around a homemade meal. Right? I mean, nobody ever says, “Thanks Dad for the Chicken Kiev that you've just taken out of the box.” But they might say, “Thanks Dad the Chicken Kiev that you've just spent half an hour making, and, you know, you probably have done a very good job of it.” So it actually builds families as well. So it's definitely a big part of what we might say, you know, we want to do at Awardaroo, what are the areas that we like to encourage at Awardaroo. Now what is this anthropological view of food waste. Could you give us a bit more of an insight on that, please? MATTHEW I can. So I think I mentioned earlier that studied anthropology at university. And for those that don't know, the headline anthropology is the study of humans. In particular, looking at the evolutionary aspect of that. And when I was studying this and doing my food waste work, it was very interesting to start to piece those together and help understand why humans have food waste because most animals don't create food waste. So I want you to imagine humans fifteen thousand years ago. So the agricultural revolution was about twelve thousand years ago. So we're still hunter gatherers. We remember large geographic ranges because we're nomadic. So we don't stay in one place for very long. We're amazing at geography, but because we don't stay in one place, we don't have a lot of stuff because it's a pain to trip stuff miles across the savannah. Then all of a sudden , across the world pretty simultaneously, we start to develop agriculture. And if you plant a crop, you need to stay there in order to care for it and harvest it. So we became a lot more sedentary. And because we were staying in one place, we could have more stuff. And over the course of the next twelve thousand years to where we are today, we got more and more industrialised. We accrued more and more stuff. And it's a real mismatch with our brains. We're not used to that. So if I said to you, picture your route home from work or from your closest train station. I'm guaranteeing in your head, you can visualise that route. Where you know an area well. But if I said to you, tell me how much food you have in your fridge at the moment, or how many pieces of paper you have in your house. You can't. Because we don't-- we can't comprehend that scale. So when it comes to food waste, we're very bad at one, remembering how much food we've wasted. So you say, oh, I don't waste a lot of food, you know, maybe a pizza crust here, banana there. But when you put it all together, it's actually a staggering amount of food. But then also, when you're shopping and you think, what do I have in the fridge? You know, some people agree to this, but most people have no idea. And in this society we live in where we have everything at (our) fingertips. We've got a bunch of stuff. It really impacts our ability to portion properly and eat the food we have. And understand our impact. PAUL Okay. Understood. Understood. No, I could definitely relate to that. Still finding things at the back of the fridge. Yeah. So, you know, it is a it is a huge problem. What are we going to do about it, Matthew? This whole food waste recovery. I mean, where are you at the moment with it? I mean, there are various, you know, is it about policy? Is it about regulation? There's obviously people's habits. I do remember watching a video by Tristan Stewart, I think it was. And he said, “There's four times the amount we create, four times the amount of food globally that we actually need because of all food waste. And there's twice the amount of food on the shelves in the supermarkets than we actually need as well.” So, you know, it is a massive problem. There is all the energy that goes into that as well as all the you know, the pigs and the livestock and all the rest of it there. Obviously, being weird that we don't need to. So where are you on this journey at the moment then in terms of, what can we do to address it? MATTHEW I think the key thing before looking to address it is to understand where it comes from and why it comes from. And in the last couple years, my view of food waste has shifted away from the household and the retailer, which is where a lot of focus is spent, a lot of blame is put. Somewhat quite rightly. But if you look further down and you look at farm stage food waste and manufacturing and production food waste, it's huge. And I want to start this by saying, don't blame the farmers. It's not the farmer's fault that there's food waste on farm. But let's start with farm stage food waste, and we'll work our way up. So you've got direct drivers of food waste. You've got biological and environmental factors, flood, drought, pests. You've got agronomy, animal husbandry and fishing practises, disease, poor animal welfare, by catch, poor handling and harvesting techniques. And then you've also got technology and infrastructure, inadequate storage, faulty machinery, a poor connection to the marketplace. So these are some of the direct drivers. These are somewhat easier to solve. If you've got pests, you know, you can put a net above your crops. If you've got outdated technology, you can replace it. I'm not saying it's easy, but there are solutions to that. When it comes to the indirect drivers, so you've got citizens. Let's take Halloween. Everyone wants pumpkins. And then all of a sudden, no one wants pumpkins. Causes a huge amount of food waste. Governments, depending on their policies, their subsidies, it can really impact what farmers grow and their ability to get food that they grow onto place. You've got other supply chain actors. One of the examples that really sits with me is we were looking at farm stage food waste. And this farmer had this whole field of, it was cabbages. Well, no. Sorry. It was cauliflowers. They couldn't harvest because the cost of harvesting was more than the price they would get from selling it. Whereas there was a huge influx and retailers were spoilt. So there's the direct drivers and the indirect drivers. I'd say to recover food here, there needs to be local partnerships with food banks and charities, smaller supply chains. So you've got these… Odd Box, for example, where they take the wonky vegetables that might not pass the aesthetics, sell those to customers. You need more labour. That was a real issue resulting from Brexit that we just didn't have the people to help harvest. And just supporting farmers for subsidies to help them move foods away. And I think it's Fare Share. We've now got this fund where if a farmer's grown food, perfectly edible, but it's not profitable to grow. They'll pay the farmer to harvest that food and donate it to charity. PAUL Right. Right. MATTHEW We can then move on to manufacturing waste where a lot of the waste in this stage is attributed to damaged food. So if food doesn't look nice, most of the time, it won't end up on the shelf even if it's perfectly edible. PAUL That's a very much an education part of it, isn't it? And I think we can get we can educate people, I think, about you know, how ridiculous this is. And people I'm sure that would not associate the look of it were necessarily how healthy it is. It's still exactly it's still a potato. Right? Even if it looks a bit weird. MATTHEW Exactly. And there's opportunities that a lot of retailers and producers aren't doing, where let's say there is ugly bench. You know, the wording varies wonky, ugly, and perfect. But they can take that and then use that in their ready meals for example, which I know you probably won't advocate for because it's processed and whatnot. But it's a way to valorise that food waste. And it's a huge cause of food waste. You've also got lack of buyers, kind of what I alluded to earlier, where you might have a bunch of peanuts but if no one wants the peanuts, you can't eat all of them, so it will have to go to waste. So there's miscommunication in the supply chain as well. And then if we move on to retail food waste, there's a few key things. And there's one that I've coined myself. So I'll start with the indirect drivers, which is seasonal products like we mentioned earlier, Easter eggs. You've got your pumpkins, brussels sprouts, all of this stuff, the turkey - has a huge demand for a few weeks’ time and then doesn't. So after Halloween, no one buys pumpkins. All of those aren’t going to get sold, get wasted. You've got people’s shopping habits where they buy the same thing. I saw this interesting statistic from a talk I went to, where the average shopper looks at seven words in the supermarket because they're so ingrained just to, hummus, not those kind of habits. And then another indirect driver, which I'd like to think I've come up with . I haven't seen it that I called described like this before, is this myth of abundance. Where you go into a supermarket and the shelves are always stocked. You know, if they're not stocked, you get societal panic. Think back to COVID or last year when we had empty shelves, made headlines, you know. We either we don't have enough food, which is scary, or we've got just enough food that actually we've got some empty shelves. And because retailers don't want empty shelves, they always have food there. They have way more food than anyone could possibly buy. So this inevitably causes food waste. PAUL Okay. So there's a lot the guests returned. We probably don't see. MATTHEW Yeah. And then the accountability of that returned food waste from the retailer goes back to the producers or to the farmers and they have to show, to front the cost of that. And other drivers in the retail space, you've got date labels. So, “best before”, which is now being pushed away from the EU and other countries. But “use by” damaged packaging could mean that the food gets thrown away even if the food fine. You might have faulty fridges, you know. I'm sure you've walked into a supermarket, seen the fridge broke and all of the food gets thrown away. And you say to them, “Can I buy that? You know, I've just seen the fridge break. Surely, it's fine.” But they're not allowed to because of health and safety concerns. So I'd say those are the main retail causes. PAUL Okay. It's a complicated process, isn't it? So it's a complicated process, which we and we need to find actions that people can take when they go shopping to help address this. So I think if we can all see it as two halves, you know. One is before it gets to the plate and the other one is after is on the plate, you know. Once it's on the plate, you know, we need to kind of eat it, obviously. But before it goes on the plate thinking about how it got there and, you know, did it actually ever need to arrive there in that way? So I mean, have you got any hints and tips for people? Any advice for people as to-- I mean, obviously, you know, eat our peace, finish our plate, don't put it in the bin. MATTHEW I think the most power that people have is in the hope. And we're going to be talking to people. And there's a few easy things people can do whilst listening to this to reduce their food waste. The first thing, check your fridge and freezer. Are they set to the correct temperature? Your freezer should be zero degrees, and your fridge should be between like one to four degrees, one to three degrees. If you do that, your foods will last so much longer. Not only is beneficial for the planet. It's beneficial for your bank account because you're not throwing your money into the bin. I think another thing that resonates with people is a thought experiment. Where if you think about your food, how did it get there? So you've got the farm. The farmer goes, they have the seeds, they have the fertiliser, they have all of these inputs, they've got the space, the water, the time. They grow this food. They've got the machinery, the fuel to make all of this happen. Then it gets harvested, transported, processed. Again, all of these inputs are going in packaged, stored, transported again, put in the retail shelf. All of this energy, put in your car, driven home, put in your fridge. If you think about how much has gone in to getting that onion, into your fridge. I think that helps people place more value on their food because then it's not just the 17P for the banana, which if you think about all of those inputs, it's crazy how you can get a banana for 17P. But it's not just the money. It's all of that energy and all of those things. PAUL Yes. Right. Absolutely. And all as I say, the packaging that goes with it, I think we have to remember, it creates a lot of packaging. MATTHEW Yeah. And something that I know you'll be began for is cooking and understanding how ingredients work and being creative and utilising all of the food. So something I only started doing a couple years ago, I eat cauliflower, chop the head of the cauliflower, throw the leaves in the bin. I thought to myself one day, let me try and cook these leaves and I'll tell you what, put some oil and salt on, stick them in the oven it’s delicious. And it's just one way of utilising the food, freeze your vegetable scraps and make a vegetable broth. There's all of these things you can do, so that (you) minimise the inedible food waste. But also, when you're creative and cook your food, it's easier to portion. You can use up a range of vegetables. You can eat locally, and you've got a lot more control over your food. I'll give you an anecdote, which ties all of this together quite nicely. So during the pandemic, my mom and I were thinking, “What can what can we do to help?” We both like cooking, we were aware of a new food bank that was set up. So we go over, we’re volunteering. And I'm seeing this huge amount of fruit and vegetables and ingredients being donated. And we were speaking to the volunteers and they were saying that people just don't know what to do with this. You know, if someone gave me a scenario, I'd be lost. Lucky my mom knows what to do. But if I got given that in a parcel, I wouldn't be able to cook it. So you-- it was salvaged foods from a supermarket and then it would just go in the bin later on. So what we did was we got all of the vegetables, we went and perused, thought of some recipe ideas, took the vegetables from the food bank, cooked, however many you could meals, and whether that was a dessert, a soup or creole or whatnot. And then went and donated those to the food bank users. And the food we've actually got, they said, firstly, it was really nice that people are taking the time to do this. But also, it was yummy. So nice. And then we also put the recipes in as well, so they could try and do that themselves. PAUL Right. If we cook from scratch, we solve a lot of these food waste problems. And yeah, you know, there's so many recipes online now, isn't it? You know, the local council does want us to take our organic waste now, don't they? And put it into these separate little, you know, little separate little black boxes. For them to take it off separately. What is the driver behind that then? Why don't they just want us to thread in the bin with everything else? MATTHEW So they'll say environmental reasons. And that is a key part of it. If the food goes into the general waste, most of the time in England, that will then be burnt for this process called energy from waste. We don't have many landfills here. Other countries do have landfills. So they'll say environmental reasons. One of the key reasons is the money, because general waste costs are not. The disposal cost is high. When you separate your food waste and other organic matter, you've got the opportunity to send it one or two ways. One of two ways. Sorry. You can either send through composting, which not a lot of the country has access to, and something we can cover another time, which is why compostable packaging isn't the silver bullet that's made out to be. But if it doesn't go to composting, it goes to an anaerobic digestion plant where it breaks down and releases methane, but this methane is captured and converted into energy. So that way, you can then create income and usefulness and finalise this food waste rather than just sending it to landfill or to energy for waste. PAUL Okay. Got it. So it's better for the actual packaging and the processing packaging, and it's also better for the food as well that we're disposing of it. So kindly understood. Matthew, it's been real a real pleasure having you on this podcast. And giving us your insights into food waste and food waste recovery. MATTHEW It's been great chatting with you and talking about a subject that I'm so passionate about and find so interesting. So thank you. Previous Next

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8 Essential Business skills and closely related organisational structure. Business skills enable individuals and teams to operate effectively, the organisational structure provides the framework for how the skills are organised. Published on: 22 Jul 2021 What business skills do you think are essential to the success of your business? As consumer needs have changed and markets have become increasingly competitive, it’s never been more vital for business owners, CEOs and modern financial directors to possess a wider variety of skills to ensure their business is operating at its peak performance. This is exactly what our business improvement framework addresses; all the essential business skills necessary to run a business in the 21st century. In this article, we’ll be looking at the eight core business skills, as well as how to improve business skills to maximise your businesses’ productivity, performance and profitability. What are the Essential Business Skills? Business skills can be defined simply as all the necessary skills needed to succeed in running a business. The main business skills break down into the following core categories that relate to running a business: People Risk Quality Communications Workflow Leadership Money Beliefs Without any of these eight core aspects and the correlating business skills addressed, you’ll struggle to maintain a productive workplace that grows long-term. Twenty-first century business and social skills are discussed further as belonging to five core areas; collaboration, communication, creativity, critical thinking skills, civic and cultural skills. How are organisational structure and business skills related? Organisational structure and business skills are closely related and mutually influence each other. The organisational structure provides the framework for how work is organised, while business skills enable individuals and teams to operate effectively within that structure. The interplay between organisational structure and business skills is crucial for achieving operational efficiency, adapting to change, and fostering effective leadership and collaboration within a business. Here’s how organisational structure and business skills are connected: Alignment: Organisational structure provides the framework for how work is divided, roles and responsibilities are defined, and reporting relationships are established within a business. Business skills help individuals and teams understand and adapt to the structure, ensuring that they align their skills and expertise with the organisation’s needs. Efficiency: A well-designed organisational structure promotes efficiency by clarifying lines of authority, communication channels, and decision-making processes. Business skills, such as time management, problem-solving, and collaboration, enhance productivity within the structure by enabling employees to effectively utilise available resources and make informed decisions. Adaptability: In a dynamic business environment, organisations often need to adapt their structures to remain competitive. Business skills play a crucial role in managing these changes, as they empower individuals to be flexible, embrace new roles and responsibilities, and acquire the skills required to succeed in different organisational structures. Leadership: Organisational structure establishes reporting relationships and hierarchies, defining the roles of leaders within the organisation. Effective leadership requires a range of business skills, including strategic thinking, communication, delegation, and team management, to guide and motivate employees within the given structure. Talent management: Organisational structure influences how talent is identified, developed, and utilised within a business. Business skills are essential for hiring managers and HR professionals to identify and recruit individuals with the necessary skills and competencies that align with the structure. Additionally, business skills enable employees to enhance their career progression within the organisation by acquiring new skills that align with the evolving structure. Communication and collaboration: Organisational structure affects communication flows and collaboration patterns within a business. Business skills such as effective communication, active listening, negotiation, and teamwork enable individuals to navigate and optimise these structures, fostering collaboration, innovation, and problem-solving across different functions and levels of the organisation. Why are Business Skills Important? The importance of business skills should be apparent from the above statement, but we’ll elaborate. Your business can benefit from business skills by allowing your company to: Continuously improve your operations, product and customer experience Maintain and improve quality Better manage risks and identify opportunities Build excellent relationships with customers, suppliers and other external stakeholders Create a strong and productive company culture Motivate and inspire employees to perform to the best of their ability Innovate and create to maintain a competitive advantage Increase operational performance and profitability through better planning and management Better align business strategy across the entire business to achieve long-term business goals Improve financial management to maximise business resilience It’s worth pointing out, these are just the highlights of the potential benefits a wide array of strong business skills can have for your business. Without further adieu, let’s dive into each category and examine the essential business skills involved in each. Essential People Management Skills It is people at the heart of every business, not machines. Currently the UK is in a business productivity crisis, at an average of 17% lower productivity than other leading G7 nations like France and the USA. Much of this comes down to poor employee engagement. A Gallup survey reveals just 8% of UK employees are engaged at work. Your employees are the key to unlocking business productivity and increasing performance and profitability in turn. This is why people skills are so vital for business owners. The key people skills in business are: Management skills Leadership skills Emotional intelligence Team building skills Conflict resolution skills Networking skills Management skills alone covers a whole host of skills in itself! This includes things like delegation skills, time and resource management, decision making skills, organisational skills, collaboration and coordination skills and so many more. These are what we’d call the hard skills involved in management, but the soft skills are just as important, if not more so. Soft skills for people management include leadership skills, emotional intelligence, conflict resolution skills and team building skills. At points, they’re all intrinsically tied. Leadership skills are a vital component of management. If employees don’t feel they have a manager who can lead and direct them, engagement will decrease and the team will be aimless. A huge part of being able to lead a team stems from being able to understand them. This is where emotional intelligence comes in as a key business skill. Emotional intelligence helps us understand why people behave the way they do. This can help build better, more productive teams by understanding the intrinsic motivations that drive people. Emotional intelligence can also help in conflict resolution. Conflicts in the workplace happen. People are, after all, incredibly different. Knowing how employees will react to a certain event, workload and so on can help reduce conflicts in the first place, but having the emotional intelligence to empathise with issues and come to more agreeable resolutions is an essential business skill for any manager, team leader or business owner. All these skills above combined help create team building skills. Strong teams are the foundation of any productive workplace. But these don’t just magically appear (unless you’re very lucky!). Teams are tactically built through selective hiring, managed through excellent leadership and behaviour modelling and maintained through emotional intelligence to continuously inspire and motivate employees. Last but by no means least, the employees in your workplace aren’t the only place where your people skills are vital. You’ll also need networking skills to connect with external stakeholders, suppliers and more. Risk Management Skills Understanding risk is a vital business skill. Entrepreneurs and business owners are certainly natural risk-takers, as otherwise they would never set up a business in the first place. But to navigate risks, as well as opportunities, successfully, these risks need to be calculated, not just done for the thrill of it. Risk management involves several key skills, in main: Good understanding of data Analytical thinking Decision making skills Problem solving skills The huge swathes of data available to businesses now means business owners must have a solid foundation of data comprehension within their skillset. However, data alone does not navigate risks. Business owners must be able to take the insights revealed from data and apply analytical thinking and problem solving skills to figure out how to best utilise that data to aid decisions. Ultimately, these aid stronger decision making skills. Decisions based on data as well as firm reasoning help businesses better navigate risks and opportunities and lead to better outcomes. Quality Management Skills Quality is so often defined as “ fit for purpose ”. This idea of quality suggests that the minimum standard is the quality standard that businesses can aim for. It’s a dated idea and one of the reasons many businesses struggle with long-term growth; as they lack the vision to see beyond the current way things are. Quality should instead be thought of as a process of continuous improvement. That is, businesses should always be aiming to improve quality. Whether that be the quality of their customer experience , the quality of their service or product or the quality of their operations. Much of the research and talk around continuous improvement is thought only to apply to the manufacturing and automotive industries, for example lean six sigma. But it’s not the case. Business owners can use their skills to create a culture of continuous improvement. They can achieve this by documenting business processes to allow them to be measured, analysed and reviewed for potential improvements. This involves both data and analytical skills as well as planning skills to successfully implement developments. Communications Skills Your communications are how you connect with people, both internally and externally. Communication skills are therefore vital to running a successful business. Of course, there are communication skills that business owners (and employees!) should possess on an individual level. This includes skills like active listening , questioning skills , verbal communication skills, written communication skills, public speaking skills and interpersonal skills. These individual skills help aid the wider business skills needed for communications. These come in the form of: Marketing, advertising and sales skills Customer service skills IT skills Marketing and advertising are a business’s main form of communication with their customers. The skills needed to successfully market your business are vast. There are hard skills such as digital media skills, commercial awareness and digital analytics skills as well as softer skills like storytelling skills, creativity and more. While business owners don’t need to possess all these skills themselves, the business as a whole needs to have individuals who can offer these skills and knowledge. While sales is intrinsically linked to the marketing department, there are some unique business skills necessary. For starters, negotiation skills have to be top of the agenda for both individual sales employees, but also for those operating at a senior level. There is no one approach to negotiation that is guaranteed to work, instead negotiation skills often come down to reactivity and flexibility. Customer service is another vital aspect of businesses. It is one of the few areas where businesses stand out from competitors in a market where price points and margins have become slimmer and slimmer. The individual skills mentioned above matter here, but what matters more is ensuring everyone in your team has them to ensure an excellent customer service experience every time. Technology and communications are irrevocably interlinked in the 21st century. We use a huge range of communication tools for both internal and external communications. As such, a firm understanding of the best technologies available to aid your businesses communications is a vital business skill for long-term growth. Workflow Management Skills Workflow management services and skills focus on the day-to-day operations that keep your business running smoothly. These services involve the essential technical expertise needed to optimise processes and ensure high-performance business operations. Project management and planning is an essential business skill to ensure optimal workflow. Business owners in particular, as well as other senior leaders, are needed to be in more places than ever at any given time. Effective management of time, resources, money and employees will help operational performance. Time management is a particular trap many business owners and leaders seem to fall into. This in turn, makes delegation a key business skill. Time is our most precious resource and leaders should spend theirs on the activities that generate the most revenue, not activities that they simply feel unable to delegate. Though we’ve mentioned management skills above, it’s worth expanding on here as management skills are essential for a well-functioning workplace. Gallup research reveals that managers alone account for at least 70% of variance in employee engagement scores. As we’ve already highlighted, businesses with low employee engagement are businesses with low productivity. To improve operational performance therefore means having the right managerial skill set to ensure employees across the business are engaged daily. Leadership Management Skills Though leadership also takes many other skills which we’ve discussed throughout this article, it all starts with a business vision. When people first start their business, they have a clear vision in mind. But as months and years go by, the day to day operations tend to get in the way and the original. vision can often fall into the background. A business vision is what ties a business together. It gives employees a collective goal to work towards together and ultimately ties each department together with a clear destination. The business skills involved in creating a cohesive business vision are: Conceptualisation and creative thinking Building mission statements Identifying objectives Critical thinking Strategic planning Creating a business vision begins with creative thinking. After all, you need an idea. More importantly, you need an idea that solves a problem. Then you need to conceptualise that idea into a more coherent goal with a matching strategy. Building your mission statements is a key element of your business vision. This is your purpose for being. This is the reason your employees come to work everyday. Mission statements allow employees to see beyond the end of their desk and instead focus on the larger goals, which can motivate and inspire them. Once you have your mission statements, you can identify business objectives that will allow you to reach them. This will take a lot of critical thinking and strategic planning to create realistic, achievable goals that align with your overall business vision. Financial Management Skills Businesses need to make a profit, or at the very least break even in the first few years. To achieve this, business owners or financial directors need a range of financial skills to ensure business viability. Financial business skills include: Accounting, banking and bookkeeping Financial reporting Business intelligence An understanding of economics Cash flow management A basic understanding of economics is a valuable asset in business, particularly a more up to date understanding wherein businesses realise the value they can create externally for economies and societies. Alongside this there are a range of fundamental financial skills necessary to run a business successfully. This includes accounting and bookkeeping to ensure good money management, as well as to aid transparent financial reporting. Ultimately, it ensures businesses are running a robust financial strategy without room for error. Business intelligence combines business analytics, data and infrastructure to help businesses make better financial decisions. This could be identifying areas of the business where the most value could be created with additional funding or any number of other ways. Business owners and FDs must have a firm grasp of business intelligence data to maximise these opportunities and increase their competitive advantage. For SMEs in particular, cash flow is the most common issue faced. Around 57% of small businesses in the UK have experienced issues with cash flow. This makes sense. Cash flow is the lifeblood of a growing business. If mismanaged, the consequences are dire. Knowing how to monitor, protect, control and utilise your cash flow is an essential business skill. Core Beliefs and Values Our beliefs are our core values. They’re why we do what we do. They’re why you started a business. They’re why your employees come to work. Company cultures are the success or failure of a business and they are all based on the core values and beliefs we hold. Research backs this up: 46% of job seekers say company culture is very important when choosing to apply to a company. 91% of managers say a candidate’s alignment with company culture is equal or more important than skills and experience. 47% of active job seekers say company culture is their driving reason for looking for work. 35% of workers say they’d pass up a job offer if the company culture wasn’t the right fit. All this to say, a weak company culture is derived from a lack of shared beliefs and values. To create a successful company, everyone in the business must understand the value of the work they’re doing and how it is contributing not only to the business and the customer, but to wider society. The core values and beliefs that drive your company, only you know. But in general, companies with a strong culture share the following core values and beliefs: Passion Integrity Positivity A commitment to equality, fairness and inclusivity Flexible working practices A commitment to mental health and well-being A commitment to environmental responsibility The Core Business Skills are Intrinsically Tied As you can see, though our business improvement framework addresses all of the essential business skills necessary to run a successful business, there is much overlap between the areas. This is because to survive in the 21st century, businesses need to take a more integrated approach. Departments can no longer be siloed with little purpose, employees can no longer exist within static job descriptions and businesses can no longer run using the same management practices as the 19th and 20th century. Rethinking business means rethinking the business skills we need to make work better, which is exactly what The Awardaroo Way addresses. 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Oriane Wiser - Sustainability Rating Platform (GSES System) Oriane Wiser of GSES Discusses Sustainability Rating Platforms Sustainability rating platforms are valuable tools that assess and communicate the environmental, social, and governance (ESG) performance of companies and organisations. These platforms utilise comprehensive data and criteria to evaluate factors such as carbon footprint, resource efficiency, labour practices, and ethical governance. By assigning scores or rankings, these platforms empower consumers, investors, and stakeholders to make informed decisions and support sustainable businesses. Oriane What frustrates me and that I'm confronted to do is behaviors. And those comments almost on a weekly basis with when introducing or pitching the ESG rating platform is how is that going to help me sell more products are going to help me make profit. Paul Okay. Interesting. Oriane And they won't be any products. So if in 50 years there's no planet. Paul Hello and welcome to Rethink What Matters, The podcast dedicated to aligning the economy with the ecology and everyone. For improved business performance, stronger families, and a greener, cooler planet. And today, I'm joined by our and wiser program manager at the Global Sustainable Enterprise System in Rotterdam, the Netherlands. And we're going to be discussing sustainability rating platforms. So the Jesus system is a sustainability rating platform. So on this podcast, we're going to be learning about sustainability. Rating platforms are really looking forward to this because it's something which I think is helping us to join a pool of adults, which is very much what a water room is all about. So perhaps we could start off around with you telling us a little bit about your role there and a bit more about global sustainable enterprises. Oriane Yes, of course. So I'll start by introducing the GSES So yes, yes, it's founded by Kelly Reichardt in 2019. It is a still the startup is scaling up. We are young and a driven team and GSES is a software as a service. So we are basically the digital bridge between companies, suppliers and product manufacturers with third party auditors to verify their sustainability performance. In short, we often called GSES as the one stop sustainability management platform because you can manage all of your companies or organization sustainability performance through the platform, including its supply chain and its products. And by including the supply chain, we ensure third party verification on scope three emissions amongst many other things. My role as program manager, I joined the company in 2020, so still when it was, it was very young. We are now almost three years down the line for me and we have launched many of our now core modules, such as the supply chain dashboard and the product assessment, which I can talk a bit more later. But my role as program manager is mostly to strategize. Are our global expansion. We are a tool that is sector agnostic and also territory agnostic. Our wide network of third party auditors cover more than 110 countries, which is also what you need when you want to ensure supply chain assessment. Because supply chains almost, almost always include many other constituencies, many countries, many different companies and organizations. So that's also why we don't only service private organizations, but also public governmental organizations. Paul Perhaps you could tell us a little bit more then about sustainability rating platforms, what exactly they are, how they work a little bit more. The detail, if you can please orient. Oriane Yes, of course. So a sustainability management platform will get you. Most of our clients come because they need to be regulations ready, so in Europe, for example, we have the CSRD coming up, which is the corporate sustainability reporting directives launched by the European Commission that is forcing companies to actually comply with sustainability reporting and making sure that their sustainability performance are not greenwashing but are legitimate. So in that sense, our clientele comes to us and they first start with a zero point measurement. A zero point measurement is to understand what is your current state of your sustainability performance. To do a zero point measurement, all you would need to do is insert your certification. So companies have often a lot of certifications such as ISO Standards GRI, which are legitimizing and certifying that their organizations as environmentally friendly or or that their I.T services is secured. So there are certifications in all rounds, but we of course focus on sustainability certifications and we are able to give you a legitimate ESG score. Now an ESG score, environmental, social and governance score is to give you a number to kind of rate you on your sustainability performance. It's the most common used grade grading system and the Universal School of Sustainability, so to speak. And we facilitate for our companies the communication across all their stakeholders on their own sustainability performance. So typically an ESG rating or sustainability rating platform will get the data from its clients so that our clients insert the data that will then be third party verified by the auditors and then GSES generate based on the audit reports we get back, we generate an ESG score. Paul Okay, okay. And that ESG score is recognized. It's a globally recognized score. Is it? Oriane Exactly. It's globally recognized. It's the most common used to measure sustainability, but not necessarily only at the corporate level, but at any organizational level. And also, it's good to note that there are internationally recognized frameworks to align with sustainability guidelines that the U.N. or EU big, big international organization such as them like to push for. So ISO is one of them. But the EU directives, of course, GRI and the SDGs the Sustainable Development Goals and these are all aligned on get so you can make sure that you are your sustainability performance reflects one that is aligned with the internationally recognized standards. Paul So I think I came to you originally through the global through the Sustainable Development Goals and I was interested to hear is a system that's helping a company to implement the 17 SDGs or to measure them at least. Yes. So you can then see you can then import data associated with each of the 17 SDGs. And would that be correct? Oriane That's very correct. Well, I'll tell a little more about this. So. So I've talked about. Yes. Yes. And now we have the link with an SDG assessment measurement dashboards based on project level, and that's under the brand called Data for Good. That is also linked through our platform. And this incentivizes our users to actually report on their impact and how they're helping achieve or how they're helping achieving certain targets. Of the 2030 agenda set by the UN. And how we do it is we actually measure on project level. So very different than the Organization Supply Chains Assessment Project based approach. So we will ask our clients to give us their KPIs and insert their targets so that say if they want to run a project that's going to support a SDG7 that's clean energy and reducing CO2 emissions, they can plot their own project and explain how they are achieving a certain target of seven or not necessarily achieving it, but rather or rather contributing to its achievement. And then just like on the GSES platform, we will have that project mapping and results based on their progress and their deadlines once their project is achieved, verified by third party auditors. And that way they can communicate with verified information on their contribution to the SDGs, on their sustainability reporting, for example. Paul Okay, so while the UN involved in assessing the level to which a company is achieving the SDGs. Oriane The UN's involvement towards the SDGs is only to read reports that come in from all the state members of the UN. So basically the way we work, especially in the Netherlands because we are Dutch founded and data for good, which takes care of the project assessments for SDGs is a recent is a recent project for us. And we work with with the SDG Netherlands Foundation, which is an organization dedicated to report on the Netherlands, achievement on the SDGs and progress towards the 2030 Agenda. So we facilitate the measurement of their claims through data for good, which then enables the Dutch government to report with verified information to the UN. Paul Right. Okay. How small clients do you work with? Because, you know, we want we want private companies to be doing this as much as big public corporations and big corporations. So how small a client can can get involved with. Oriane You and there for good, there's an individual membership that's free. So even just a single human being can do it on as we have assessments made for big corporates like you mentioned, and for corporates in general. But we also have SMEs, small and medium enterprises assessments and that allows even a startup to enroll and do a zero point measurement and have a sustainability assessment done because eventually, especially specifically in Europe, CSRD will concern everyone at some point. So we need to get also the smaller companies ready for sure. Paul That's very much, I think, the focus of Awardaroo to be honest. You mentioned zero Point is that same as a carbon footprint. Oriane Zero point measurement is just to see where your status quo is. That's so it's an assessment of the status quo in terms of your sustainability measurement. We will analyze the CO2 footprint. We have six pillars, basically for an organizational assessment because we strongly believe in the holistic approach of sustainability. And this is very important for any anyone out there thinking of sustainability. Sustainability is not only your carbon footprint. Climate change is driven largely by GHG emissions, sure, but it's not only by CO2 emissions, for starters. And it's not only driven by GHG emissions, it's also driven by biodiversity loss. And biodiversity is an assessment in our standards actually, but also to have a sustainable world that can last on the long run and a sustainable society, so to speak, you need to have health and wellbeing included. You need to have CSR, corporate social responsibility, making sure that the workforce is well treated and making sure that no one is left behind, but also making sure that your supply chain is sustainable. So one of the assessment is sustainable procurement. You also have circular economy because and that's driven by the cradle to cradle on the product level, but also the approach of the donor economy. So actually thinking of it as an economy that stays within the planetary boundaries without jeopardizing future generations, resources and needs. So we are not exclusively a carbon accounting platform. We do have a carbon dashboard that allows you to verify third party, verify again, your carbon footprint, and then we are partners with compensation program. So carbon compensation programs that will help compensate for your emissions. And we are working on a project with a partner called ABB, the large corporation, to actually re launch a verified scheme to legitimize the carbon credit and carbon accounting fields. Paul The secret to all of this must be transparency. I think so. To what extent, if you like, is transparency supported, you know, by the GSES system? Oriane Very good question and very good assumption. Transparency is key in the realm of sustainability to fight greenwashing, notably and to make real claims. Our transparency layer comes from our third party auditors network. Most most predominantly, but we also use transparent methodologies that is shared with everyone our clients, members, partners, and even the audiences that follow us on social media will know we'll have access to our methodologies. We're very transparent with the way we work and you need to be transparent. We we often outside of outside of our work as GSES members, we we preach transparency because if we are not transparent that we don't have a real sustainability performance assessment and then we don't know what is the state of the world, right? And then that means we don't, knowing what state we're leaving it for future generations. Paul Okay. I think the danger with a system like this potentially is it puts the focus on measurement and analysis rather than action. So to what extent do you drive action with this? Oriane I know that's a very good question. I'm happy you're asking that. It's true that we often have the motto measuring is knowing. Once you measure, you know how you can go further, what you can achieve, you know where you stand. But it might not like you insinuated, it might not push you to actually do more. It might not push you for action. And this is why Data for Good was found. It's because Data for Good is a project based approach assessment. So you don't start by measuring actually, you start by lining out your project and the actions you are going to take to contribute to the Sustainable Development Goals. And then at the end, if you want to get your project verified to legitimate to to legitimate it towards your stakeholders or even shareholders, then you can get it verified and measured by third party assessments. But it's just to drive action and to to motivate people to all join together. We also have alliance dashboards where you can collaborate on get on on projects so you're not just on your own, just not your own organization or your own self as an individual. Yeah, you can join collaboration because working together, you'll go further, you'll achieve more, more impact. Paul Okay, okay. You know, oftentimes companies are already very busy. Sometimes it's about survival. And this just becomes one just another thing for them to do. So I can imagine it might be difficult to get traction with it. How do you get people involved with this and keep it going, keep motivated? Oriane It's it's a very good question. And it's it's a hard it's it's a hard thing to tackle, whether it's for a GSES or for data for good. Taking action is something that we will collaborate with other companies who are such as NGOs, who's our campaign in companies whose core work is to drive impact and to motivate people to make an impact. But we work a lot with government, all institutions that themselves, especially in the Netherlands, you have a lot of public private partnership. So for example, you have municipalities that own shares in private companies. And so through the municipalities and through ministries, we actually motivate private companies to engage because then they can have they can showcase to their shareholders, who are often governmental bodies, that they are helping them to contribute to the SDG progress of the Netherlands or of any country. So in that sense, we motivate them. Then I'm going to be honest with you, Paul. One of the big motivations is regulation, right? So the more companies are aware of all the financial consequences that they can bear if they don't take action, this is the biggest motivation right now. Paul Well, okay. Okay. That's good. That's interesting. I said very interesting insight. So that's where we are today. It's a more push, than pull. Oriane It's definitely more push and pull, but we're entering a new era with the regulations coming into play. And I think what's going to follow up is companies or any organizations that take action on their own hands and take the initiative in their own hands, so to speak, because the younger generations were raised with the conscience of sustainability and protecting the natural resources so that future generations have access to them. So we are going towards progress and we are going towards more action and more creating impact. Paul Are there any case studies or stories you can share with us of people using the GSES system? Oriane Yes. So I'll talk about the Johan Cruyff Arena. The Johan Cruyff Arena is the biggest stadium in the Netherlands. It's in Amsterdam and it's if are soccer soccer lovers amongst your audience, it's the home of Ajax team and they have a strong purpose to drive innovation and to they set a 2030 target to be to be neutral, carbon neutral, and even net positive. If if they achieve carbon neutrality, then they want to be net positive. So by 2030 their target is net positivity for the arena. They've been using the GSES system to set to not only to see their zero point measurement, where they're at, how they can contribute better, what they can put in place to achieve a better, sustainable performance. But they wanted to take it further. Their Chief Innovation Officer is driven by purpose for this and that's how he was interested in using data for good and using the SDG dashboards to showcase the contribution of the arena to the 2030 agenda. And so in that sense, the arena is one of our first frontrunners using both GSES and data for good and on data for good, they're are actually proving and measuring through projects by installing food transformers that creates biomass energy from food waste, but also projects on green energy. So they've installed more than 4000 solar panels on the roof of the stadium and they can create a lot of energy and therefore they can contribute to the municipality of Amsterdam's own targets because the municipality of Amsterdam owns 49% of the shares of the arena and therefore they have high stake and in the arena sustainability and they and they can help each other achieving their sustainability targets. And for example, so you have the arena who had their own targets, but you have the municipality of Amsterdam who wants to be 50% to reduce its CO2 emissions of the city by 2030 of 50%. To align with the Paris Agreement of coming back to the emissions that in 1990 and through the project mapping and and verifying their achievements on their actions through data for goods. The arena is legitimizing it's its purpose and its efforts to contribute to the targets of the municipality. Paul Okay. All right. Thank you. With with ESG, we've got environmental, social and governance. And it seems to me that sometimes we approach that the wrong way round. And if we go environmental and social and governance, yes, it should really be covered. It's first. And what's your view on that? Oriane That's a very good question. That's why we focus on the holistic approach of sustainability. So there is no strong, stronger emphasis on environmental or social or governance. Environmental is the frontrunner in ESG for many people and for many organizations. Why? Because it's easier to measure. It's easier to assess. Right. But we are seeing amongst our our clients and amongst our Argentine network and in the Netherlands and all across Europe, a strong emphasis on good governance because good governance is seen as the the driver for change. With bad governance, you will not achieve much, you will not achieve your actions and you will not achieve impact. You need good governance before you implement environmental strategies. And in that sense, I do. I if your question is a very good one, it is very important for people to really not disregard the agenda for S and G. Paul What are the frustrations you find there are around sustainability rating platforms? Have you got to be stories about where it's just not worked or it's not working? Oriane Yeah, very good question. One of my main frustration, and I think it comes from a personal trainer as well, a personal background. I have a master's in climate change and international development, so I am not only preaching because I work for a sustainability management platform. What frustrates me and that's I'm confronted to those behaviors and those comments almost on a weekly basis with when introducing or pitching the ESG rating platform is how is that tool going to help me sell more products are going to help me make profit. And it's a legitimate question. When you're head of a portfolio or head of a product or head of sales, it's a legitimate question. It's your job to make profit. And I understand that and respect that there won't be any products to sell if in 50 years there is no planet. So it's the the biggest struggle is to actually switch the minds versus short term or towards long term. Paul And Awardaroo is very much focused on a regeneration as opposed to sustainability. Oriane Yeah, I also prefer regenerative to sustainable, although sustainability has most commonly known than regenerative. So that's why in the semantic we do use sustainability more than regeneration, although from an academic perspective and an expert perspective, regenerative has it all the name you need to focus on it not being a one time use or not, or not being a short term product or service, you need to think about regenerating it and making sure that its lifespan is as long as it can. So the approach of reusing versus recycling is something that is very leveraged in in the in the regeneration approach in on our product assessment, we do we do actually follow the methodology of regenerative approach. So in that sense we are including the regenerative approach because actually sustainability falls under the regenerative approach. What I like about regenerative is that it's the umbrella above that they include that includes the SDGs the planetary boundaries and and sustainability ESG assessment you get. If you want to truly be sustainable, then you need to think regeneration wise. Paul I think so, because sustainable almost by definition is equals failure because we have something at the moment we don't want to sustain, you know, it's all it's broken. We don't want to sustain something that's broken. We need to improve what we have and rebuild what we've broken and build capacity for the future. Because there's still going to be growth, because there's going to be 8 billion people, 10 billion, whatever it is, they're all going to want to get wealthier. So I think I read that the global economy, the output economy could double in 30 or 40 years. You know what it took to take 240 years we're going to do in the next 30 or 40. So, yeah, this is an exponentially compounding problem, which if we don't regenerate, we just way we just won't make it. Frankly. I mean. Oriane Can I just comment on, on sustainability. Um, yeah, again, fixated investment, climate change. But the problem with the word sustainability is that the word in itself actually resonates with what you just said. It makes you think of what you just said, but the definition of sustainability in academia and that's used for the methodologies and that's the legitimate sustainability definition, is to actually make sure that the needs of current generations are and the uses of natural resources of current generations are not jeopardizing future generations, and that we are actually including in our current usage, including for the future generations. So in that sense, sustainability and regeneration are very close. But of course greenwashing and and just, I mean mostly driven by fossil fuel companies and by big profit for profit companies have twisted the word sustainability around a concept of it. And that's that's the struggle also of being in the sustainability world as a company. It's always to educate and to make sure that we are not getting the wrong point across. Paul So if it's driven mainly by compliance, does that mean that I think compliance only really applies in the UK at least for companies that are employing 250 people or more. So the companies employ less than 250 people. They don't have this compliance issue. Oriane No, not now, not for now. It's going to be the CSRD is starting in waves. So it's going to be a wave process. So the first batch will be the big fish in the EU and the big fish in the EU market. So definitely companies are more than 250 employees, but as the wave as the year goes on, CSRD wants to include everyone. Paul And if you're a small company employing, say, 200 people and for your customers a few thousand, you probably yourself need to be able to share your carbon footprint or your sustainability credentials ratings to that larger organization because because that kind of demand it for their own for their own certification. Oriane Exactly. And that's why we work a lot with companies who want to assess all their suppliers, to assess all their supply chain. And when you work with a big corporation, the way we do it is actually facilitate sustainability assessment for their smaller suppliers or for their smaller for their smaller suppliers. We obviously give lower fees for rating because when you manage I mean, for example, for some of our clients, we are going to assess or we're assessing more than thousands of suppliers and some or even very small companies, some are in less than ten people. So for them, they have they have a different requirement and a different price. And that's driven by the corporate ambitions to show their sustainability performance at the supply chain level. So you could you can also see that sustainability focused people often find solutions to include to be as inclusive as possible because they know that they can't do it alone. So they're going to have to help those that can't afford it. Paul And just give us your impression then, of how much you think this is changing behaviors? Actually. Oriane There are many reasons why they're changing behaviors. It's a confrontation. It's like looking at yourself in the mirror. It's it's very confrontational when you realize how bad your KPIs are based on verified data that's been third party verified and you have legitimate sustainability performance that shows you that you are your governance is actually not good, that your social KPIs and targets are not good, that your score, your verified score is below 10%. That drives change, especially for competitive minds and for the management level. They're realizing the impact of that sustainability. Focus needs to be really sound. It needs to include everything and you can't just grade well and CO2 emissions. You also need to make sure that your your staff and your workforce is well treated because of compliance coming in. And those regulations. So it's changing behavior in that sense, but also it's changing behavior on the board level because now in in their quarterly the quarterly meetings with the investors or their quarterly meetings with the admin board, they share their ESG rating, their share, their sustainability performance, and they show why they need to put budget on this to achieve better rating, to then be the product that people will use because it's the product that's going to last the most because it is encompassing the sustainability approach and it's encompassing the survival of humanity. And those often I mean, sustainability just challenges intergenerational debates as well, because we have generations that were actually told to consume as much as they could to help the economy. No, that's very true. And it's very hard to then tell them, well, now. Well, no, you buy secondhand everything. You don't help the economy and in their head and in their minds. And if you look at just an economist or an economist standing point, you're like, this is never going to work. We're not going to generate money. Sure, we might save the planet, but we're not going to be able to feed ourselves because we won't have money for it. So that's also it's also part of the challenge. But having teams that have different age groups in them challenges dialogs and help a common understanding of the importance of this and how it can work. Paul Oh yeah. Thank you very much for your time on this podcast and helping us to understand how sustainability rating platforms work and the value that they bring and how your G says system works as well. Thanks very much for your time on this podcast. Oriane Thank you very much Paul. Previous Next

< Back Earnings Per Share (EPS) Understanding Earnings Per Share (EPS): Measuring Profitability Per Share Earnings Per Share (EPS) is a financial metric that indicates the portion of a company's profit allocated to each outstanding share of common stock. It is a key indicator of a company's profitability and is often used by investors to gauge a company's financial health and performance. EPS = (Net Income−Dividends on Preferred Stock) / Average Outstanding Shares Suppose Company XYZ has the following financial details: Net Income: $1,000,000 Dividends on Preferred Stock: $100,000 Average Outstanding Shares: 450,000 To calculate the Earnings Per Share: Subtract dividends on preferred stock from net income: 1,000,000−100,000=900,000 Divide by the average outstanding shares: 900,000/450,000=2 An EPS of $2 indicates that Company XYZ earned $2 for each share of its common stock over the reporting period. This suggests the company's profitability on a per-share basis. Market Value Ratio Previous Next

< Back Debt to Equity Ratio Understanding the Debt to Equity Ratio: Assessing Financial Leverage The Debt to Equity Ratio is a financial metric that compares a company's total debt to its shareholders' equity. This ratio indicates the relative proportion of debt and equity used to finance the company's assets, providing insights into its financial leverage and risk. Debt to Equity Ratio = Total Debt / Shareholders’ Equity Suppose Company MNO has the following financial details: Total Debt: $500,000 Shareholders' Equity: $1,000,000 To calculate the Debt to Equity Ratio: Divide total debt by shareholders' equity: 500,000/1,000,000=0.5 A Debt to Equity Ratio of 0.5 indicates that Company MNO has 50 cents of debt for every dollar of equity. This suggests a relatively low level of financial leverage and potentially lower financial risk. Leverage Ratio Previous Next