With October 31st just around the corner, there is no doubt that Brexit is at the forefront of many business leaders minds. In this guest post, Vistage Speaker Ken Allison offers a view on how employment law may change in the coming months.
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.
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.
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.
In this 20 minute video from our Vistage Open Day leadership and strategy expert Jim Alampi shares his original take on Patrick Lencioni's "5 Dysfunctions of a Team". He combines the most powerful moments from Lencioni's work with his own tools to bring new insights into how CEOs can enable and cultivate high performing teams within their companies.
The first thing many companies do in times of uncertainty is to put a hold or freeze on recruitment, however before you publicly announce a recruitment hiatus, consider the impact it might have on your existing employees.
In the last 2 weeks, I’ve been approached by and invited to connect with candidates on Linked In who I’m sure wouldn’t have felt the urge to do so previously.
So what has changed? Is it purely the Brexit vote? – Possibly. However I strongly suspect it’s the messages and signals they are getting from their current employers that the drawbridge has been raised and the career opportunities and job security they thought they had 4 weeks ago have now either disappeared, or are in danger of doing so.
Almost 8 out of 10 people regularly experience physical symptoms caused by stress. The cost of this for employers is around US$300bn every year in stress related health care and absences.
Stress-related presenteeism (defined as the lost productivity that occurs when employees come to work but, as a consequence of illness or other conditions, are not fully functioning) and absentism are costing employers more than AU$10billion a year.
As industry leaders, it makes sense for boards to tackle this costly issue. And the first step in doing so is to challenge how organisations, and society, have normalised and accepted stress. We actually expect we should feel stressed during certain circumstances e.g. tough market conditions, organisational change, busy times of year etc. For some professions it is almost worn as a merit badge of their commitment to success.