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How to navigate the new working normal

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By David Leahy, Director, Great People Inside Australia

Someone once said that “eighty percent of success is showing up” perhaps we should add “in your pyjamas” and it would fit better with how some employees are experiencing the new reality of working from home.
We all know that this pandemic left employers with no alternative other than to direct their employees to work work-from-home.While some companies may have existing work from home policies the current work from home regime has been forced upon us and comes complete with many headaches, regardless of whether existing work from home policies were in place or not.

During COVID-19 many organisations across the globe experienced significant increases in the number of employees who were required to work remotely. Now, as the world slowly comes to grips with this new working reality, companies are finding that many existing and potential new employees are expressing a desire to continue working remotely into the future.

Twitter was one of the first companies to go to a work from home model. In fact, they have stated publicly that they “don’t anticipate being one of the first to return to offices” but instead “if (their) employees are in a role and situation that enables them to work from home and they wish to continue to do so forever, (they) will make that happen”.

We can all agree that we are in the middle of an age of great technological advancement and we are also facing fundamental changes in the way we live and work. If we zoom out, the spotlight is on how businesses will adapt to a world where it is increasingly difficult to travel overseas and trade relationships between nations are changing. How will we adapt to this disruption to globalisation? Can technology save us in the long term? Businesses like Zoom, Skype and Slack are a few of the many online solutions to our current levels of separation which allow us to communicate as teams, but questions still remain around how this will play out in the long term.

What does it mean for your business?

Much has been written on how remote working will mean a reduction in office real estate and significant cost savings. Many employers are also finding themselves already offering the flexibility of remote work as a benefit to existing and new employees. Millennials who currently represent around 50% of the workforce, and are expected to represent 75% by 2025, place great importance on this type of flexibility when deciding whether they remain with or join a new employer. The fact is that technology and the latest tools make people working remotely effective and means that the need for physical proximity has been greatly reduced. This shift is a test for all businesses robustness, agility and ability to make decisions quickly. “People are our most important asset” is a well-worn cliché, but now more than ever people are front and centre in these key deliberations.

It’s our belief that gradually, organisations will likely transition to a type of hybrid working model, with some employees working from the office and others working from home, or a mixture of the two. This sounds relatively straight forward but as we know us humans are complex beings. Many employees today, conscious of the fragility of their employment in the current environment will go with the flow to ensure job retention. The fact is that not everyone can or is suited to a remote environment.

The real challenge facing employers of all sizes is how will they support their people and keep their team cohesive. Once you are sure that the home environment is safe and appropriate for your potential remote workers, how do you:

  • Objectively identify those existing employees, managers and teams that possess the required attributes to productively work long term in a hybrid model?
  • Identify and support those who may struggle?
  • Recognise potential new hires who can successfully deliver long term in a hybrid environment?
  • Help the “command and control” manager move from industrial age work practices?
  • Ensure the effectiveness of remote teams in the long term?

Robust information will be key to your success

As an assessment business, Great People Inside are experts at creating tools for the development of existing people and teams as well as recruitment. We provide the objective data you need to make informed decisions for practically every people situation you are dealing with now and in the future.
Given that organisations can no longer rely on things they very recently took for granted, the psychologists at Great People Inside have recently developed a series of new assessments around working remotely. These assessments are, informed by extensive independent research, into the characteristics required for people to work productively from home. With our partners, we also offer individualised online development, provided by subject matter experts, to help you support your people whilst they transition to this new way of working.

Don’t let this shift, shift you. We can help you support your people to adjust.

For more information
Contact: David Leahy
E: [email protected]
Or call on 04-05691845

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

www.greatpeopleinside.com/australia 

THE NEW REALITY

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By David Leahy, Director, Great People Inside Australia

Someone once said that “eighty percent of success is showing up” perhaps we should add “in your pyjamas” and it would fit better with how some employees are experiencing the new reality of working from home.
We all know that this pandemic left employers with no alternative other than to direct their employees to work work-from-home.While some companies may have existing work from home policies the current work from home regime has been forced upon us and comes complete with many headaches, regardless of whether existing work from home policies were in place or not.

THEN AND NOW

There’s lots of research published pre COVID-19 regarding the positive impact having your employees working from home could have. Typically the studies demonstrated double digit productivity growth and significant increases in staff retention. Usually thou a number of environmental requirements were specified to deliver these types of results.

Firstly, the employee had to work from a home office, secondly, nobody was allowed into the room during the workday except for the employee, and thirdly a “home office “could not be a bedroom!
Pre COVID-19 most homes certainly provided an acceptable level of solitude for the work from home employee; children were safely tucked away at school, kindy or Nana’s place! In the good old days, the biggest distraction to a good day’s work at home was likely to be catching up on a Netflix episode, or taking time away to carry out a few home chores.

In this new reality in which we live, three key elements have changed; children, space,and choice. Employees are at now home and likely working alongside their children and in some cases their partner, in unsuitable spaces and they have no choice about it.

Its not hard to see how this impacts people’s anxiety and stress levels and affects their ability to perform their roles efficiently. It’s likely if you ask you’re people how they’re coping with this new reality, they will not complain to much or own up to increased stress and anxiety. Most employees are highly conscious of the fragility of employment at the moment….so they’ll put their best foot forward, soldier on and leave you guessing.

HOW WE HELP

As an employer, you can’t change the work from home directive, this won’t change until the Australian government provides direction on the next steps of easing the lockdown restrictions. However, there are certain factors that could help employers understand if and where their employees may need support without relying on employees owning up.

But what are those factors and how do you measure them without adding to the stress and anxiety?
As an assessment business, Great People Inside is used to creating assessments for the recruitment of new people and the development of existing people and teams. Although the size of the challenge is unprecedented, the essential work of analysing and developing your work from home team hasn’t changed. It’s what we do all day every day.

And because we customise assessments for specific purposes, we’ve developed a series of new assessments, informed by extensive, independent research, over many years, into the characteristics required for people to successfully work from home.

These assessments are hugely relevant to the current global situation and will allow you not only to undertake a ‘health check’ on all of your people (not singling out those you think are struggling), but to respond to what it tells you. With our Partners, we can offer individualised online development, provided by subject experts, to help your people cope with a situation that is far from their ‘old normal’.

OUR NEW ASSESSMENTS

The Remote Employee assessment helps you discover if your current employees have the skills needed to be productive and motivated when working remotely.

The Remote Manager assessment provides key information on the efficiency of managers leading a remote team, assesses their ability to manage different work styles and create vision, motivation and momentum in a remote team.

The Remote Team assessment provides important information regarding the efficiency of a team when working remotely. It shows the way members interact with one another and, at the same time, presents the optimal conditions in which that team can reach the highest level of productivity.

The VUCA Manager assessment identifies leadership potential in a VUCA (volatile, uncertain, complex, ambiguous) environment. By measuring capacity and potential, it highlights an individual’s strengths and development gaps relative to the leadership needs of the organisation.

Is your team working remotely? Do you know that they’re coping OK with the isolation? Would you like to know?
Contact Great People Inside on [email protected] or call us on 0405-691845 and let us help you maximise the impact you have on your organisation AND your people.

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

www.greatpeopleinside.com/australia 

Dealing with Layoffs during the Pandemic

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By David Leahy, Director, Great People Inside Australia

As the coronavirus pandemic continues to expand, the damage done to the job market looks ever more likely to be deep and long lasting. Worldwide, managers are not only dealing with the stress and remorse of having to let go a number of their co-workers, but many of them will also be feeling an underlying anxiety about their very own positions. If laying off employees is the only way to keep the business going, how do you handle feelings such as guilt, remorse and sadness? What is the best way to deliver the news when you can’t meet face-to-face? What do you say to the employees that have made the cut? And what can you do to overcome the fear about your own future?

Normally, layoffs have mostly been cut and dry with showing off as little emotion as possible. They were carried out in such a manner that made employees feel like they were just another number due to how they were being treated. Obviously, the difference between a good layoff and bad layoff is all about how they’re handled.

Layoffs that are being done during this uncertain period of time should not be any different than the ones that were normally done, there shouldn’t be any discrepancies. Many organisations make spontaneous decisions to fire their people due to fear and uncertainty. It’s only after they’ve sent their workers packing that they recognise they have made a mistake. This leads them to mass rehires afterwards. To prevent this from happening, companies should first evaluate their cash flow to see whether layoffs are the only way forward.

What the Experts Say

Firing people is difficult in normal times; but given the Covid-19 health crisis, the task is “emotionally and cognitively overwhelming,” says Joshua Margolis, professor at Harvard Business School. He continues by stating: “This experience for most of us is unfathomable. There’s a great deal of uncertainty and people’s minds are whirring. As a manager charged with dismissing a wide swath of employees, you’re pulled in different directions: Your heart goes out to people, but you have a responsibility to the company.” Furthermore, the tension that employers are experiencing right now is at least doubled given that they are worried about their very own fate. Kenneth Freeman, Dean Emeritus at Boston University’s Questrom School of Business has said: “You’re human and you’re going to have a lot of those anxious moments. But the key is to try as best you can to separate your personal worries from the task at hand. In your role as a manager, you need to be there for your people.”

Are layoffs required?

If you’re the one making the decisions about layoffs, Margolis recommends asking yourself one question: is downsizing your workforce truly necessary? The impulse to cut costs is understandable, but this is not a recession that takes place every few years. Significantly, this pandemic will live in the memory of people for years to come and the psychological impacts of it are yet to be comprehended at their full capacity. As a leader, you are required to show resourcefulness, creative forward thinking about how your company can save as many employees as possible. Talking with the management team and discussing every other possible alternative is also an important, logical step to make. Firing people should represent a last resort kind of situation and if you absolutely have to do it, try and avoid multiple rounds of letting people go.

Research

If you decide layoffs are necessary or others have made that decision for you, then make sure you’re prepared before you reach out to the affected employees. Figure out what and how to say to each and every one of them. Talk to them on a personal level. People are likely going to have a lot of questions regarding the why, the timing, their benefits, and severance package (if applicable). These conversations may need to happen fast, but you’ll have a better chance of easing both yours and employee’s anxiety by providing them answers of what happens next.  Reach out to HR, your legal department, and any other senior leaders who might be able to help you prepare answers to questions such as: When will I receive my last salary? and Am I receiving an unemployment benefit?

Communicate Openly and Often

Be honest. Transparent, open and timely communication help increase employee trust instead of them being blindsided. Companies should organise constant meetings in order to hand out valuable information and address any existing concerns. Due to the pandemic, organisations should use online video conference apps such as Google Hangouts, Zoom, Maestro or Tele-Town Hall. While employees have the option to call in or attend without video, leaders are recommended that they keep their cameras turned on. It helps create a more human experience.

Communication during a crisis should never be spontaneous and should always have a plan. In fact, it’s crucial that everyone, from leadership to management, is on the same page and wants the same things. Otherwise, employees will receive paradoxical information that can lead to distrust and rumours. Leadership should take the time to explain how the business is currently being impacted, what changes are there to be made and why. When employees understand the why behind the decision it increases their trust in the company and doesn’t take a toll on their self-confidence or increase their anxiety levels.

The worst possible thing imaginable that an organisation can do is blindside their workers and conduct layoffs through email. If in-person isn’t possible, given the social distancing requirements we all have to follow, employers should opt for video calls instead. Furthermore, they should be proactive in providing their now ex-workers with options for them to move forward such as unemployment benefits, a severance package or other benefits. This helps put employees’ minds at ease regarding survival and the next few steps.

Lead through Empathy

This is a sensitive time for many. While it is understandable to protect the company, the layoff process usually lacks the empathy and compassion needed during a stressful time.

Therefore, employers should lead with empathy when laying off their workers. Employees will remember how they’re treated during this time. If they’re treated poorly, they’re more than likely going to speak poorly to their network and through online reviews about the company and their experience. Consequently, when business picks back up again and the company is hiring, they’ll struggle to win over quality talent due to a damaged reputation.

Be direct and human

The message you present to them must be crystal clear and concise. For example: “I’m sorry, but at end of the month we are going to terminate your job.” By communicating this information directly, it may come off as a tad cold but it actually allows the employee to have a grasp of the whole new situation he or she is in. It is vital that you express your recognition for all of their hard work and dedication. Afterwards, explain to them that they are being laid off due to the exceptional economic climate we are all in and that it has nothing to do with their job performance. It’s important that at the end of the discussion your future ex-employee feels appreciated and loved.

Focus on your wellbeing

Last but not least important, take care of yourself. If lucky, this is the only time managers will have to face something of this magnitude. However, it is highly unlikely it will be the only time managers deal with a challenge during a period of great uncertainty. Although it may sound like a truism, the best coping mechanism there is when things are uncertain is self-care. Try and eat as healthy as possible, exercise regularly, try meditation or yoga, get a good night’s sleep and read a good book in your spare time, do not change the screen from your laptop to your phone, disconnect. We are all together in this situation, nobody is alone. The problem here is to make people understand that they are not alone whatever their specific circumstances are.

How can Great People Inside help you assess your ‘remote working’ workforce?

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

Sources:

https://www.prnewsonline.com/layoffs-pandemic-tips
https://www.forbes.com/sites/heidilynnekurter/2020/03/31/3-ways-to-layoff-employees-with-dignity-during-a-crisis/#7b762a252f7f
https://www.inc.com/jessica-stillman/how-to-lay-off-employees-with-empathy-decency-during-a-pandemic.html

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

www.greatpeopleinside.com/australia 

Working from Home in the VUCA World

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By David Leahy, Director, Great People Inside Australia

The Covid-19 virus has reached the pandemic level. This has brought up to everyone’s attention that we are experiencing the full-force of the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) world.

Stock markets have taken a dive, supplies have slowly started to be stretched, events are being cancelled all over the world and travel bans are in-place in various countries. One thing is certain as of this moment, that our work patterns have changed, maybe even forever. For now, we are only talking about the short-term.

Many organisations and small businesses have instilled mandatory ‘work from home’ arrangements whilst others have banned any face-to-face client meetings and international travel. Given the fact that now everybody who can, works from home, it has taken some of the novelty around this subject. As with anything in this world, every unique situation has its pros and cons.

Job descriptions that still offer the old 9-to-5 model without any possibility of flexible working hours are rarely convincing anymore. It must also be taken into account that digitalisation has also changed the game by shifting old paradigms. Nowadays, employees strive for self-realisation and want to find a job that fulfils them. Their own personal demands put them under pressure, because if we are being honest, even the best job in the world will eventually fall into routine.

The ever-growing technological advancements also put a strain into today’s workers. Artificial Intelligence, robotics, machine learning are the ‘new kids on the block’ with large corporations giving them their full attention. They are posing a challenge to people’s intelligence, our talents and skills. The question that is on everyone’s lips is will humans be replaced by machines. Will that push people towards jobs with a more humanistic side to them?

Thousands of people are likely to be working from home for the first time this week due to the coronavirus outbreak. For others, it’s just like any other week. However, everyone will need their own customised solution to keep themselves productive during these trying times. As mentioned above, there are good news and bad news when it comes to working from home.

Firstly, we have the good news. People may end up being more productive when they don’t spend hours commuting or in meetings, taking long lunches or catching up with the latest gossip around the water cooler.

Secondly, there is bad news ahead of us as well. People will have to set office routines without the external pressure to turn up on time, to be productive and take regular meal breaks. Self-discipline is of the utmost importance when working from home and some sound advice is to actually get dressed for work, even though working whilst still in your pyjamas sounds like the perfect working scenario. But if you talk to colleagues or customers over video links, appearances must be kept, plus it gives you the feeling that you’re actually at work which increases productivity. Talking to your co-workers on subjects even unrelated to work may help you keep engaged.

What are Psychometric Tests?

If you haven’t had to complete a psychometric test up until now, stop worrying. You definitely will. Chances are that at your next job interview, you will go through this process. Generally, they consist of a series of timed questions, which revolve around numerical, verbal and logic skills. The tests are aimed to assess the abilities of candidates and their suitability for a particular role. Furthermore, it must be stated that these types of tests have evolved a lot since their inception. Now they are used in a wide array of organisational areas to find out whether someone has the necessary emotional intelligence to be a high-ranking manager, how good of a team player they are based given the fact that they are introverts or extroverts, if working from home has an impact on someone’s productivity and engagement level.

How can Great People Inside help you assess your ‘remote working’ workforce?

First of all, we are aware that the first step to improving the workforce is that of identifying the key aspects that define your workforce. Once we have accomplished this first step, we will know what the key performance indicators are, what to look for when assessing employees by developing a well-structured competence system.

Secondly, our platform is extremely easy to customise in order for it to meet your specific needs. We offer you the possibility of either choosing one of the available models we have in place or you can request the appropriate dimensions to match your specific needs, thus making your whole evaluation process a lot easier.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

www.greatpeopleinside.com/australia 

The number one challenge for HR consultants: How will you grow your business next year?

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By David Leahy, Director, Great People Inside Australia

As this year quickly draws to a close, no doubt you’re reflecting on the year ahead. What are the opportunities? What are the challenges? What do you want to achieve?

In my recent conversations with HR consultants, one objective and challenge looms large for 2020 – how to scale their businesses. However, there are some unique challenges and barriers to growth for consultants which can stop growth in its tracks.

Consider this scenario. You’re an HR consultant working on your own. You’re able to earn decent money per hour and your costs remain relatively low. As you build up goodwill and a portfolio of work, word spreads and you gain a steady stream of referrals. Business is good. 

Eventually you can’t handle the workload on your own anymore. You hire a consultant to share the work. And then another. The three of you move into an office. On the surface things appear to be going well. There’s a steady flow of work. You’re all run off your feet. However, cash flow is tight. Making ends meet is becoming increasingly difficult, even though the business is bringing in more money than ever before. What’s going on?

When you examine your numbers more closely, you realise that the margins on the work your consultants are performing are very thin. Once you pay them, as well as pay the costs of office space and other resources, there isn’t much left over. As the business becomes more complex, you’re spending less time on billable work and more time on management and admin. By the end of that financial year your topline has grown significantly but your bottom line hasn’t budged. It’s been a whole lot of work for very little reward.

Sound familiar? Unfortunately this situation is extremely common for consultants. No wonder so many are burnt out and not seeing the financial return for their efforts. So how can you grow both your business’ top and bottom line sustainability in 2020?

Scrutinise your costs

Managing your costs effectively will help you claw back profitability. That may include negotiating a reduction in your rent, sourcing more competitive suppliers or outsourcing lower level work to a junior rather than a senior staff member.

Become more time efficient

For consultants, it is essential to understand how your time is spent and reduce that time when possible. If you or your team are spending too much time on a job it can make that job unprofitable. Consider ways to bring time down. Improving your systems, processes and technology are good places to start. Look at whether there are any tasks you can automate or outsource more cheaply.

Price strategically 

I’ve written before about how trading time for money is a trap. Consultants often find their earning potential is limited because they are paid for their time and there are only so many hours in a day.

The answer is to not price based on time but on value or outcome. Create service packages at a fixed cost which you know will be profitable. This also makes it easier to raise your prices. Don’t get stuck in a race to the bottom on price. By charging what you’re worth you can earn more while working less and attract a better client.

Target the right clients

Do you know which clients are your most profitable clients? By better understanding this you can focus your energy on those clients, upsell or cross sell to them and seek out other potential clients with a similar profile. Having less clients which are more profitable is worth more to your business then having more clients which are less profitable.

Diversify your offering

Diversifying what you offer is an excellent way to grow both your top and bottom line. Are there additional revenue streams which fit well with your existing offering? A great option is to offer a product in addition to your usual services such as an assessment, survey or report. These offerings require less of your time, can be sold at a higher volume and with a more reliable profit margin.  

The important thing to consider is which product is worth reflecting on before you jump in. There are lots of online tools out there, you may even have a product already in your portfolio, but is it differentiating you from your competitors? Is it the latest technology? How does it support you to earn revenue without constant active involvement by you?

Are you looking for ways to differentiate your business?

We recently launched Great People Inside in Australia and we’re in the process of growing and extending our channel and referral partner network.

The Cloud-based GR8PI People Intelligence Platform (GPI) is a next generation platform that provides you with the ability to provide key strategic HR insights and analytics to your clients. Its flexibility is unique as its the only fully-customisable, psychometric profiling and 360° feedback, platform in the world!  

For example: Want to help your clients analyse their people’s level of alignment to the organisations’ values? Want to help your clients analyse what precisely drives the performance of their top customer service or sales team members? Want to help your clients understand the impact of their top performers? Tick, Tick and Tick – The gr8piplatform can do this and more!

These days everyone wants choice and that is what we deliver with GPI. The unique ability to easily customise assessments means you are not restricted to offering tools that measure or analyse what the developer/manufacturer wants you to measure….you can help your clients measure precisely what’s important to THEM!

With GPI you’re not restricted by the status of the role either, our assessment dimension range is so vast and our unique pricing models mean you can develop client focused customised tools regardless of their role position or status in the business. We believe everyone in the organisation should be happy and have the same opportunities to ensure they “fit” and they love their work! In fact, our mission is “To develop and offer the future’s talent and assessment solution – the Cloud-based GR8PI People Intelligence Platform – to anyone working with people: Ready-to-use, customisable to meet every need, and affordable to everyone.”

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

Building a business or a consultancy: which one’s for you?

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By David Leahy, Director, Great People Inside Australia

When you take a step back and look at your HR business, is it a consultancy or a genuine business?

In a consultancy you are paid for your expertise and your time. You may work alone, or you may employ one or two people. Even when you have a constant stream of clients, profitability is a constant struggle. Why? Because there are only so many hours in a day that you and your team can work. There will always be a cap on what you can earn.

There are also diminishing returns. As your workload expands and you employ people, you earn less per hour than just doing the work yourself. It’s a catch 22. You’re either doing too much work yourself to remain profitable or earning a slim margin on your team’s work.

A genuine and sustainable business, on the other hand, is different. Your revenue isn’t limited by your time. There may be multiple revenue streams which cushion the business from the ups and downs of winning and losing business. It’s possible to grow without chipping away at profitability. Best of all, as a business owner you can work less while earning more.

If your business is still just a consultancy, you’re not alone. Many HR businesses will never evolve beyond that. But if your aspirations are higher than that, it is possible to evolve.

So how can you evolve your consultancy into a sustainable and thriving business?

Refine your offering

If you’re a generalist doing a bit of everything for everyone, you’re probably losing out financially. Those businesses which only focus on a few things and do them really well have a stronger proposition to take to the market and therefore find it easier to win business, are able to deliver the product or service in the most efficient way possible, and are able to offer a really high quality offering. 

Avoid the trap of trading time for money

The biggest challenge for consultants is that we are paid for our time. Not only does this limit our earning ability, it also undervalues our contribution. Your value isn’t in the time you dedicate to a client, it’s in the outcome you achieve – and that may be worth a lot more to the client than a defined amount per hour.

Consider how you can you package up your services at different price points to best demonstrate value and maximise profitability. In many cases consultants can and should charge more for their offerings then they have been previously. You can even get creative with pricing. If you’re working with a client to help them reduce employee absenteeism, consider offering an alternate price structure representing a fee paid based on a percentage of the potential savings to the business. The same could apply for staff retention, productivity or employee satisfaction.

Create time efficiencies

Once you have defined the key services and/or products your business will focus on and the appropriate profitable price structure, identify methods you can deploy to deliver them in as little time as possible at the highest quality. It makes sense to track how much time each offering takes to achieve on average. If you can bring this time down, your margin on that offering goes up. Ways to bring time down may involve improving systems and processes, leveraging technology or automation, or outsourcing or delegating any lower level work to someone whose time is cheaper.

Source additional revenue streams

Additional revenue streams that aren’t tied to your time and which complement your offerings are an easy way to grow your bottom line. As a starting point, why not consider offering a product that fits with and enhances your business strategy. Products such as assessments, profiles, surveys, software or systems, skills tests, basic audits or reports are a great way to develop an alternative revenue stream. This an excellent way to quickly scale your business sustainably that doesn’t require much more time on your part.

Are you looking for an additional revenue stream?

We recently launched Great People Inside in Australia and we’re in the process of growing and extending our channel and referral partner network. 

The Cloud-based GR8PI People Intelligence Platform (GPI) is a next generation profiling platform that enables you to assist your clients to select the best talent available and develop it to its fullest potential. It is the only fully-customisable, psychometric profiling and 360° feedback, platform in the world. 

Clients can be trained to use the highly intuitive platform independently so they can select, manage and develop their people, look after their employee’s wellbeing, and ensure alignment of organisation values. 

These days everyone wants choice and that is what we deliver with GPI. The unique ability to easily customise assessments means you are not restricted to offering tools that measure what the developer/manufacturer wants you to measure….you can help your clients measure precisely what’s important to THEM!

With GPI you’re not restricted by the status of the role either, our assessment dimension range is so vast you can develop client focused customised tools to profile everyone in your client’s organisation regardless of whether they are selecting, developing or redeploying a person for an unskilled role or a senior executive role! we believe everyone in the organisation should be happy and have the same opportunities to ensure they “fit” and they love their work! In fact our mission is “To develop and offer the future’s talent and assessment solution – the Cloud-based GR8PI People Intelligence Platform – to anyone working with people: Ready-to-use, customisable to meet every need, and affordable to everyone.”

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. If you’re interested in being part of our mission, why not enquire and learn about our unique and exciting Channel & Referral Partner program. Contact David at [email protected].

www.greatpeopleinside.com/australia 

“Like finding a pot of gold”: Identifying great ground floor opportunities for your business

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By David Leahy, Director, Great People Inside Australia

Did you know that if you had invested $20,000 into Apple shares when the company went public in 1980, you’d be over $200,000 richer today?

Getting in on the “ground floor” of an opportunity is like finding a pot of gold. For business owners and investors, pursuing an opportunity early before others flock to it is a sure fire way to reap significant rewards.

So, how do you make sure the opportunity isn’t too good to be true? Getting in on the ground floor is a phrase that understandably evokes suspicion. Many worry that the supposed potential of the opportunity may never materialise and aren’t comfortable taking that risk. But what about the risks of not taking action? When a ground floor opportunity pays off it means a much healthier bottom line, freedom from financial stress, and more time and flexibility. Who wants to miss out on that?

Most HR business owners I talk to are already seeking opportunities to access additional revenue streams through software, systems, audits, reports, skills tests, assessments, profiles or surveys. Getting in on the ground floor of an opportunity is an excellent way to access additional revenue for only a small financial investment.

Here’s how you can identify great ground floor opportunities for your business.

Do your due diligence

Conduct research into all aspects of the opportunity. Is it a viable product? Is there a demand for the product? Will that demand increase or reduce over time? Is the company credible? How long has the company been in business? Is the company financially secure? Is the company set up well to scale? Are customer or partner reviews and testimonials positive? Ask as many questions from as many relevant people as possible. Your goal is to learn as much as you can.

Be an early adopter in a new market

If the opportunity has been successful in other markets, for example overseas, it will give you a good indication of what you can expect. In a way, you can have your cake and eat it too – you’re still getting in on the ground floor of the opportunity, but it has been proven to be successful elsewhere. That reduces the risk significantly.

Assess the financials

Look at the financial investment and potential financial returns. Be systematic about your forecast and scrutinise all costs, including your time. You need to ensure you’re getting a return on your investment. Make sure to examine the opportunity cost as well. If you don’t invest in the opportunity what will you potentially miss out on? What are the costs of continuing to do what you’ve always done? Sometimes a missed opportunity is a far greater financial risk than an opportunity which doesn’t pan out.

Are you looking for a great ground floor opportunity?

Recently launched in Australia, Great People Inside is seeking a limited number of Australian Channel Partners. Great People Inside (GPI) Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent.

The next generation GPI platform measures whether potential and current employees have the necessary traits to fit with the company culture or whether they are performing to their potential. Clients can be trained to use the platform independently so they can select, manage and develop their people, look after their employee’s wellbeing, and ensure alignment of organisation values.

What’s unique about GPI is that the assessments are fully customisable, in fact it’s the world’s first fully customisable validated assessment platform. Using a list of 61 fully validated psychometric dimensions, and 38 dimensions for our 360, GPI creates totally customised assessments that are specific to the competencies, values, requirements or objectives of any role, organisation or department – anywhere in the world. And should we not currently offer a dimension that suits your client’s needs, in consultation with you, we will develop a new validated dimension especially for your client’s business – we call this full customisation.

Contact David at [email protected] to find out more.

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. To learn about our unique and exciting Channel Partner program please contact David at [email protected].

Trading time for money: It’s a rat trap! How to scale your HR business or consultancy

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By David Leahy, Director, Great People Inside Australia

If you’re a one or two man band in HR or consulting no doubt this sounds familiar.

You’re working more and more, without seeing any real difference to your bottom line. You’d like to work less and earn more but aren’t sure how. Hiring staff simply increases your costs, earning you less per hour. There doesn’t appear to be a clear way to scale your business which will actually make you more money or save you more time.

It’s the inevitable challenge that consultants face in all industries. Trading your time for money is inherently limiting. It places a cap on what you can earn. You inevitably end up working more hours than you’d like to, without seeing any significant increase in profitability.

The good news is that it is possible to scale your HR business without increasing your workload or chipping away at your profitability. It requires tossing out the old way of doing things and starting fresh. Here’s how to do it.

Price according to value, not time

When you charge based on your time, not only are you limiting your earning potential, you’re also inevitably undervaluing what you do. If you’re able to work smarter, faster and more efficiently, why should you be penalised for it? If you get a great outcome for a client such as improved employee engagement or reduced turnover, shouldn’t that have a bearing on what you earn? And likewise, if you don’t perform, is it fair on the client that they need to pay you the same? If you really think about it, it’s a lose-lose situation for you and your client.

So, what’s the solution? Instead of trading time for money, you need to trade value for money. Think about the value you provide to your clients. What is the value of your contribution to your client’s business? How much money have you made or saved them? What is unique about your expertise or offering? What is it that you do that is hard to find elsewhere? If you think about your contribution in these terms, then suddenly the dollar value of what you offer has the potential to increase significantly. If you price accordingly, you will immediately increase your top and bottom line without giving up any more time or adding any additional costs.

Position yourself as an expert

You are an expert in what you do, so why not position yourself this way? If you’re known as an expert then your value will be immediately understood and you can be remunerated fairly. Speak at events, write articles, post on LinkedIn – the goal is to share your expertise and showcase thought leadership. This will attract new business, enable you to charge based on your value and grow your business.

Refine your unique selling point

If you don’t know your point of difference, then your clients and potential clients won’t either. Drilling down into what makes you unique and competitive is essential. This is where you add the most value and this is what will win you business.

Sell products as well as services

Do you sell products as well as services? A product requires minimal time on your part and can be replicated at higher volumes. It is an excellent way to scale your business through adding an additional revenue stream without needing to add staff or time. Products may include software or systems, basic audits or reports, skills tests, assessments, profiles or surveys.

For example, the next generation Great People Inside (GPI) platform measures whether potential and current employees have the necessary traits to fit with the company culture or whether they are performing to their potential. Clients can be trained to use the platform independently so they can select, manage and develop their people, look after their employee’s wellbeing, and ensure alignment of organisation values. You gain recurring revenue not dependent on your time. It’s a win-win!

About David Leahy

David Leahy is the Director of Great People Inside Australia (GPI). GPI Australia provides state-of-the-art and fully customisable assessment and development solutions to help select, match, onboard, manage, develop, engage and retain top talent. Recently launched in Australia, GPI is seeking a limited number of Australian Channel Partners, so this is your opportunity to get in on the ground floor. To learn about our unique and exciting Channel Partner program please contact David at [email protected].