Last year, a new initiative trended at #4 on Twitter, generating 325 pieces of broadcast and print coverage and achieving more than 11 million views online alone. It’s a huge achievement for any launch, made all the more remarkable because its central issue typically struggles to reach the public consciousness.
Any first year MBA student can write a business plan, and it’ll probably be a good one - in theory. But a business is much more than strategy, numbers and the bottom line. Your business is a collection of people; and while some may be motivated by the basic numbers, many more want to feel part of something bigger; something meaningful. We’re talking about company culture.
The single most important asset in your business is your staff.
When Google launched in the late nineties, it was a simple search engine designed to make the internet easier to navigate. In 2016, Google is unapologetically an ad platform, with the Adwords pay-per-click (PPC) service generating a whopping 97% of its $73 billion sales in 2015.
For many businesses, PPC is an addiction; their sole means of generating web referrals, because they’ve turned off all other marketing activities.
It’s a risky game to play. While PPC is certainly making Google a lot of money, it doesn’t work well for all businesses. Cost-per-click may be as low as £0.04 in some areas, but the highest ranking keywords – those which attract the highest number of searches and clicks – can command fees in excess of £35. So, while PPC definitely can work for some, it can be an ineffective, expensive drain on resources for others.
Which leads to the question, when should a business adopt PPC, and when should they leave it well alone?
72% of CEOs indicated that the inability to attract and retain employees with key skills threatens their growth prospects, according to PwC's 2016 global survey of CEOs. In response, as many as 41% of CEOs are revising their work culture and behaviours in an effort to engage more closely with the people their businesses need to remain relevant and competitive.
A critical factor in improving the working environment is trust. Employees and employers need to confidently rely on each other to produce results. Where there are high levels of trust, employees are more committed to the company and are more likely to recommend it to other potential candidates through peer review sites such as Glassdoor.co.uk.
Business leaders are challenged to create an environment in which staff are willing to volunteer their discretionary effort to go the extra mile.
The best designed systems and processes only deliver peak efficiency if the people using them are functioning at their optimal capacity. We all know that you can’t manage what you can’t measure – yet few organisations are aware of the empirically validated key indicators that govern human engagement – let alone how to measure them.
Don’t miss out on the power of staff engagement.
Ask a business leader what managing people means to them and they’ll undoubtedly use words like payroll, employment legislation and record keeping. Some will tell you stories of how they couldn’t do what the business needed because of the threat (perceived or otherwise) of being taken to Employment Tribunal.
Many will tell you that their employees are the business’s greatest asset but very few will be able to tell you about the activities they take to ensure their people are engaged and motivated. This is shocking when research shows that 86% of employees are either not engaged or worse, actively disengaged.
Discover strategies that will empower your people and have a positive impact on your bottom line.
Your people are the most essential part of your business. It’s time to motivate your people and take actions to produce measurable results - all of which will feed into customer satisfaction. Transforming the talent within your organisation will help you to transform your profitability - and we’ve highlighted exactly what you should be prioritising.