Recession And How To Prepare Your Business For It

Many economists predict we will enter a recession in the next few quarters if we’re not in one already. With many businesses still recovering from the effects of the pandemic and memories of the Great Recession of 2008 still fresh in most of our minds, many business owners are not prepared to face another economic recession.

What is a recession?

A recession is a prolonged period of an economic downturn that is both widespread and significant. A period of economic downturn often lasts at least six months or longer. For this reason, an economic recession is often recognized after a country’s gross domestic product declines for two consecutive quarters. According to this definition, the U.S. would currently be experiencing an economic recession.

However, as NPR reported, this is “not an official definition.” Many factors determine whether a country is in a recession, and due to job growth and foreign business investment, “The White House has pushed back against calling the current economy a recession,” NPR also said.

What does it mean to recession-proof your company?

There are two sides to recession-proofing your company. One that most employers are probably familiar with and one that’s too-rarely considered:

Recession-proofing your business is making your organisation economically resistant through actions traditionally thought to shield business during recessions: reducing expenses, scaling back ambitions, and monitoring cash flow to weather the coming storm.

Recession-proofing your workforce refers to maintaining employee morale, motivation and inspiration during economic downturn.

While most companies focus on their bottom line to survive a recession, research on how to help your business survive a recession by Great Place To Work has shown that focusing on employee engagement – particularly diversity and inclusion – helps companies thrive during a recession. In fact, our data shows that companies that value diversity and inclusion outperform other companies by as much as 400%.

1. Manage your cash flow

In easy or difficult economic times, cash is always king. Cash flow, the timing of when money flows into and out of your business, can make or break your company. When times are tough, however, cash flow challenges can be particularly difficult to overcome. With expenses higher than usual and revenue lower than usual, cash will be tight, and balancing your budget could start to feel a bit like a tightrope walk.

To get a handle on your company’s cash flow, look at your current cash flow statement daily, and start forecasting (if you aren’t already) with trailing three-, six- and 12-month cash flow forecast charts. These charts can help you anticipate times when cash is going to be tight, so you can implement strategies to prevent these challenges from occurring.

Additionally, create best- and worst-case scenario budgets that help you better prepare for unforeseen challenges or unexpected triumphs.

2. Proactively embrace your best customers

A recession is a perfect opportunity for you as CEO to strengthen your relationships with your biggest and most important customers. Remember they are feeling the threat of recession as well. Customers always want to meet the CEO of the company they have purchased from so this is an opportunity for you to hit the road, visit customers, and spend time with your salespeople. If you cannot have an in-person meeting, meet on Zoom. If you are uncomfortable selling, get over it.  I recently spoke to a founder/CEO with a technical background who told me he “learned to appreciate sales” even though he was uncomfortable selling at first. If you’ve historically thought your time was best spent on product, it’s time to reconsider: In a downturn, your best use of time is talking to customers and making sales.

Remember that it is easier and cheaper to sell more to existing customers than to land new customers. This is especially true in a recession as everyone is taking a second look at all expenses. If you are in a B2B business, visiting customers also gives you real insight into how happy your customers are and whether you are at risk of customer churn. If you run a B2C business, invest in rewards programs and other initiatives to make sure your best customers feel appreciated. Churn risk increases during recessions as companies prioritize their spending and pull back on new initiatives. High churn rates have a direct impact on company valuations. As a CEO you are in the unique position to lead by example and your employees will recognize your effort.

3. Embrace your best employees

Recessions force employees to re-think their career choices. If employees start to doubt the viability of the company, they will take the calls from larger firms in the market — regardless of their equity upside — that can pay more in current income, bonuses, and benefits.

Get ahead of this. Spend time with your best employees making sure you understand their mindset. Employees always assume their equity stake is based on the last round of funding, so down rounds create employee angst. Losing top talent will have a very negative impact on your company. Managing and maintaining your momentum is critical both in terms of retaining your top talent as well as recruiting new talent.

Several times in my career I got ahead of this issue by offering additional stock option grants to top employees to make sure they did not even take the recruitment calls. It works. It’s far easier to get ahead of retaining top talent than it is to try to counter-offer once your employees are entertaining other options.

Recessions are a natural part of the business cycles and companies of all sizes must weather them or wither. Startups face a unique challenge because until they become profitable, they rely on outside capital to fund their growth and evolution to maturity. To make it through and emerge even stronger, conserve cash, and pay close attention to your customers, investors, employees, and culture.

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:

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Sources:

https://hbr.org/2022/11/5-ways-startups-can-prepare-for-a-recession
https://www.forbes.com/sites/forbesbusinesscouncil/2022/09/01/how-to-prepare-your-small-business-for-a-recession/
https://www.jpmorgan.com/commercial-banking/insights/how-to-prepare-your-company-for-a-recession

Your Job Is Not Your Whole Identity

Reducing yourself to any single characteristic, whether it be your title or your job performance, is a deeply damaging act. Thanks to major shifts in the labor market, workers are switching organisations, functions, and even industries much more frequently than past generations. But as our careers take these dramatic leaps, we ourselves are not wholly reinvented. We often bring pieces of our past work experiences with us, making our work selves more like a manuscript than a whiteboard that can be wiped clean with each new role. 

Are you a self-objectifier in your job or career? Ask yourself a few questions, and answer them honestly.

  • Is your job the biggest part of your identity? Is it the way you introduce yourself, or even understand yourself?
  • Do you find yourself sacrificing love relationships for work? Have you forgone romance, friendship, or starting a family because of your career?
  • Do you have trouble imagining being happy if you were to lose your job or career? Does the idea of losing it feel a little like death to you?

If you answered affirmatively to any or all of these, recognise that you will never be satisfied as long as you objectify yourself. Your career or job should be an extension of you, not vice versa. Two practices can help as you reassess your priorities.

1. Get some space

Maybe you have been in an unhealthy relationship or two in your life but only recognised this when you had a break from it, whether voluntary or involuntary. Indeed, this human tendency probably contributes to the fact that most trial separations lead to divorce, especially when they last more than a year. Space provides perspective.

Use this principle in your professional life. To begin with, it should be the main goal of your vacation—to get a break from work and spend time with people you love. As obvious as this may sound, that means taking your vacation, and not working during it at all. Your employer should thank you for doing so.

In religious traditions, rest isn’t just nice to have; it is central to understanding God and ourselves. “For in six days the Lord made heaven and earth, the sea, and all that is in them, and rested on the seventh day,” the Book of Exodus reads. “Therefore the Lord blessed the Sabbath day and made it holy.” If God rests from work, maybe you should too.

Such a practice doesn’t have to be religious, and can be done in a lot of ways besides simply avoiding all work on Saturday or Sunday. For example, you can take a small Sabbath each evening by proscribing work and dedicating all your activity to relationships and leisure.

2. Make friends who don’t see you as a professional object

Many professional self-objectifiers seek out others who admire them solely for their work accomplishments. This is quite natural—it makes you feel good when a person you meet for the first time recognises you for your work. This type of relationship can easily become a barrier to the formation of healthy friendships, which we all need. By self-objectifying in your friendships, you can make it easier for your friends to objectify you.

This is why having friends outside your professional circles is so important. Striking up friendships with people who don’t have any connection to your professional life encourages you to develop out of work interests and virtues, and thus be a fuller person. The way to do this goes hand in hand with recommendation No. 1: Don’t just spend time away from work; spend it with people who have no connection to your work.

Perhaps challenging your own self-objectification makes you feel uneasy. It can freak you out. The reason is simple: We all want to stand out in some way, and working harder than others and being better at our jobs seems a straightforward way to do so. This is a normal human drive, but it can nonetheless lead to destructive ends. There are people that would rather be special than happy.

The great irony is that by trying to be special, we end up reducing ourselves to a single quality, and turning ourselves into cogs in a machine of our own making. Our work is our medium, and it becomes our message. We learn to love the image of our successful selves, not ourselves as we truly are in life. Don’t make this mistake. You are not your job. Take your eyes off the distorted reflection, and have the courage to experience your full life and true self.

Losing a Job That is Your Identity

If your job is your whole identity, losing it can be catastrophic. “But when your personal identity is heavily tied to your job, losing that job-even through no fault of your own, such as in an economic downturn or a restructuring- can seem catastrophic, causing an existential crisis or what the authors of the book Difficult Conversations call an ‘identity quake,’” says Rebecca Zucker of Harvard Business Review.

The Cell Phone in Our Pocket Prevents Work Separation

Like many of us, you may not be able to resist checking emails, chats, or texts, even on vacation. The 24-7 access is so tempting that most can never truly disconnect. Working from home further blurs the line. When our jobs are our identities, we think that we should be doing more of what we love.

But is it possible to be creative and connected to others with a constant work distraction in our pockets? When do we hit burnout? “When you’re overworked, you’re actually less productive,” says author Jeffrey Davis of Psychology Today.  “When you get more sleep, develop a healthier work/life balance, and actually learn how to separate yourself from your work, you will find that you’re capable of not just enjoying more meaningful (and productive) work, but also of creating a more meaningful and well-rounded life.”

The ever-more-volatile state of our world means that plenty of leaps await us in the years ahead. Increasingly, our psychological health and career fulfillment will hinge on our ability to assess and execute transitions without betraying our authentic selves. The VME framework can help you predict how difficult it will be to dislodge incompatible aspects of your lingering identities, or what facets might be worth fighting to keep.

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:

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Sources:

https://hbr.org/2022/11/when-changing-jobs-changes-your-identity
https://www.artemisconsultants.net/what-happens-when-your-job-becomes-your-identity/
https://www.monster.com/career-advice/article/how-to-handle-jobidentity-loss-hot-jobs

Goal Setting And Why You Should Forget About It

Goal setting is one of those things that seems like it would be fundamental to success. If you’ve read any books or articles about getting ahead in your career or life, you’ve probably come across tips on setting goals (like SMART goal setting) so that you can successfully meet them.  Setting goals isn’t the be-all and end-all when it comes to managing your career.

But setting goals may not be as relevant anymore, and there may be better alternatives to managing your career–and your life. 

Part of the reason goal setting may be becoming irrelevant is because of the speed of change and the volatility of the world. When everything is moving so fast and changing, the goals you set for yourself can become redundant. 

That said, it’s very powerful to imagine yourself succeeding in the future and focus on your preferred version of tomorrow. The key is to seek to be directionally accurate, knowing that things are constantly changing in a way you can’t always predict.  

Here are five effective ways to take charge of your career when you’re operating in an unpredictable landscape. 

1. VISUALIsE THE FUTURE 

You’ve probably heard of elite athletes who picture themselves succeeding and having tremendous success. This is a process that can be effective outside of sports. For example, a study by St. Michael’s Hospital found when emergency room doctors or trauma healthcare workers imagined how they would deal with a challenging situation, they were more successful.

The practice of mental mapping–imagining the future with a lot of detail and clarity–allows you to picture what that preferred future will look like. You visualize what it’ll sound like and feel like, as well as how you might work through obstacles. Experts believe this works because you’re preparing your mind, and when you get to a similar situation in real life, you’ll be primed to respond and take the right action. This general vision is more effective than goal setting. Instead of plotting steps that unexpected events might derail, you’re imagining a fully realized picture of the future rather than your calendar or task list.

Detailed mental maps can also help you articulate the process and bring others in. Suppose you’re solving a tricky problem at work and you visualize the potential solutions and outcome in detail. You’ll be able to express what might happen and share the necessary steps with others in a more specific way, increasing your likelihood of success. 

2. ADJUST YOUR TARGET 

A twist on mental mapping has to do with how you visualize your target. This was demonstrated by researchers at Purdue University. When golfers visualized a hole as bigger, they made their shot more often. Previous research found a similar effect with football players. When they imagined wider goal posts, they were more likely to make a successful kick. 

Researchers believe that when you adjust your perception of a target, you increase your confidence, and that helps you perform better. Say your vision is to be a compelling speaker. When you imagine the audience nodding, smiling, and applauding wildly, you may enhance your likelihood of success. 

3. INTRODUCE SOME DISTANCE FROM YOUR GOALS 

Another way to think about what you want in the future is to imagine yourself in the third person. Research at York University and Wilfrid Laurier University explored the conditions for people’s success in multiple situations like school, work, and performing arts. When people imagined themselves in the third person–as if an audience were watching them succeed–their motivation levels increased. 

When people see themselves in the future, they tend to be better at solving problems, because they feel more objective and disconnected from what might be an emotional or nervous situation. Anxiety can get in the way if you’re interviewing for a new role or negotiating a high-stakes deal with a customer. But if you’re able to visualize the situation as if you’re watching it like a spectator, you’ll probably increase your odds of success. 

4. ALLOW THINGS TO EMERGE NATURALLY 

Another alternative to traditional goal setting is to set a direction and then let the specific steps emerge naturally. You may want a particular role in your organization, and a conventional approach would have you set a course for classes to take, people to meet, and a progression of jobs to get you there. But having tunnel vision can be limiting. If one of the steps doesn’t happen according to your plan, everything else can fall like dominoes. 

A better alternative is to set your course and respond as opportunities happen. Start by watching for unanticipated opportunities: There may be a job you hadn’t imagined on your path, but you consider it because it will develop your skills. Or, you might take on a project outside your normal responsibilities and create a new set of contacts who can influence your career later on. 

5. Be Aware of What’s Going on Around You

Another aspect of achieving your aims in the future is to be constantly tuning into the what’s going on around you. If you’re overly focused on your goals, you may only look for what you’ve anticipated rather than tuning into how the world is changing. Focus on the circumstances around you, and you’ll be more ready to react and respond. For example, when you notice your organization’s shifts in strategy, you can anticipate a project you might volunteer for.  The world is changing, so it’s only logical that your response should as well. In a volatile landscape of work and opportunity, it can be counter-productive to seek too much certainty. Instead, put your energy into detailed visualizations of where you’ll go, and you’ll be more likely to get there. Remember, today’s options won’t be the same as tomorrow’s alternatives.

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:

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Sources:

https://jamesclear.com/goals-systems
https://medium.com/the-mission/forget-about-setting-goals-focus-on-this-instead-c63b9ddeab1f
https://www.getabstract.com/en/summary/forget-about-setting-goals-focus-on-this-instead/31375

No Deadline Keeps People from Procrastinating

Usually, a deadline motivates us to do things we might otherwise put off, but the relationship isn’t always clear-cut. For example, although a long deadline theoretically gives us more time to finish a task, it often means that we postpone it over and over until eventually we forget all about it. Indeed, only 5.5% of the people who were given a monthlong deadline returned our survey, compared with 6.6% of those who were given just a week. But people who were given no deadline had the highest response rate of all: 8.3%. And they were more likely than the others to return the survey within three days.

They say procrastination is the thief of time—actually deadlines are

Mark Twain advised people never to put off until tomorrow what they can put off until the day after, and a lot of us listen. Estimates suggest that 15% to 20% of all people are chronic procrastinators, and that share goes up for situational delay: As one example, four in five people put off retirement savings despite knowing better. Then there are the innumerable office procrastinators, many identifiable by the mere fact that they’re reading this article.

The devious thing about procrastination is that while we tend to shrug or laugh it off as part of the work process, evidence suggests it’s far from harmless. At the root of the problem is our failure to differentiate between simply delaying a task, perhaps a healthy sign of organizational skills, and truly procrastinating on it, a self-defeating habit people know will hurt them later–a little like smoking. Not only does our work suffer from the real thing, but our well-being does, too.

Self-imposed deadlines – not as effective as external deadlines in boosting task performance

That puts strategies to counter procrastination at a premium. One of the most common is a self-imposed deadline, often scheduled long before an actual external deadline, an approach that acknowledges the problem and commits to resolving it. The intention here is great–instill some discipline in those moments when you have it–but whether or not self-imposed deadlines work is another question.

Some early research found that imposing a deadline might at least be better than waiting until the last minute. In a 2002 study, researchers Dan Ariely and Klaus Wertenbroch hired 60 students to proofread three passages. Some of these test participants received a weekly deadline for each passage, some received one final deadline for all three, and some could choose their own deadline. The readers got a dime for every error they detected but were docked a dollar for every day they were late.

Despite the penalty, participants who imposed their own deadlines performed worse than those given evenly spaced weekly deadlines in terms of detecting errors, finishing near deadline, and generating money (see below). Then again they did better than those given one final deadline. Ariely and Wertenbroch concluded in the journal Psychological Science that self-imposed deadlines, while a reasonable strategy to curb procrastination, “were not always as effective as some external deadlines in boosting task performance.”

A recent attempt to replicate that experiment found even less reason for hope. Researchers Alberto Bisin and Kyle Hyndman arranged for students to alphabetise three word jumbles. As in the earlier study, some test participants received evenly spaced deadlines, some a final deadline, and some could impose their own. Each finished jumble earned participants $15, though this time there was no room for tardiness; blowing the deadline meant blowing the cash.

A substantial number of participants who self-imposed a deadline reported themselves as being relatively low in conscientiousness–a sign that they were aware of being procrastinators and were using the deadline to address the problem. No matter. Bisin and Hyndman report that these participants nevertheless had the lowest completion rate of any group. Unlike in the earlier study, participants with self-imposed deadlines completed fewer tasks than those with just one deadline at the end.

Why the difference? Bisin attributes it to the type of deadline imposed. In the 2002 study, students had a “soft” deadline; in other words, they could salvage a little credit for finishing late. The “hard” deadline in the new study left no room for error. So procrastinators who waited until the last minute to start the task and found it too tough to complete in time simply quit, rather than press on and mitigate their losses.

“They think the deadline is helpful because it makes them do it,” Bisin tells Co.Design. “But they do it too close to deadline, and as a consequence, when they discover it’s harder, they drop it. This is the negative effect.”

When the deadline is self-imposed, its authority is corrupted and the motivation never materialises

Timothy Pychyl of Carleton University, one of the leading scholars of procrastination, isn’t surprised that self-imposed deadlines don’t resolve undesirable delays. Procrastinators may need the tension of a looming deadline to get motivated, but when that deadline is self-imposed its authority is corrupted and the motivation never materialises. “The deadline isn’t real, and self-deception is a big part of procrastination,” he tells Co.Design.

Which speaks to the distinction drawn earlier between time management and true procrastination. If time management were the essence of the problem, a self-imposed deadline should help. But Pychyl and other researchers have come to believe that emotional failures rest at the root of procrastination. Procrastinators delay a task because they’re not in the mood to do it and deceive themselves into thinking they will be later on. When that time comes and they’re not, they’re in the same emotional place but with less time until deadline.

Some experts believe that the best strategy for addressing procrastination is to find something enjoyable or meaningful in whatever task is before you. Easier said than done, for sure. But if you can make that chore or assignment almost as pleasant as, say, reading a book of Twain quotes, then maybe you’ll only put it off until tomorrow. You’ll have the whole day after to thank yourself.

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:

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Sources:

https://www.weforum.org/agenda/2021/11/researchers-discover-best-way-to-avoid-procrastination
https://medium.com/productivity-power/can-a-self-imposed-deadline-help-beat-procrastination-13936992d1ea
https://www.fastcompany.com/3026895/self-imposed-deadlines-dont-stop-procrastination-heres-what-might

Is It the Right Time for a Career Change?

Whether you call it “The Great WorkQuake,” “The Great Resignation,” or “The Great Reset”, up to 41% of employees are thinking about changing their career right now. There are a lot of reasons for them to consider leaving. A strong labour market is pushing up wages and benefits, and companies are offering additional perks to attract new talent. Some workers may be fed up with their existing company’s toxic or unappreciative culture, inflexible work arrangements, or pay inequity. Some may be suffering from burnout or general work/life dissatisfaction. Some are leaving their jobs simply because they can afford to — U.S. personal savings hit a record high of 33% this year. Add in the opportunities to “work from anywhere,” and you can understand why we’re seeing employees quitting in record numbers in 2021.

But before drafting your resignation letter, take a hard look at whether quitting is the best way to achieve your long-term career goals. So how do you know whether staying at your current company might be the better decision for you? Here are a few key factors to consider:

1. You have no idea what you want next – only that you don’t want what you have now

Too many aspiring career changers get so worked up resenting a job that isn’t ideal, yet they don’t have a viable alternative. By alternative, I don’t mean a new job in hand, but just a prototype for a job – roles that match what you want and companies that interest you. It’s critical that you are moving towards something you want and not just away from something you don’t.

I call this the pull-over-push reason for wanting a career change. You want to be pulled by the a glorious future – excitement for the role or industry, enthusiasm for what you can accomplish, eagerness to make a contribution in the new field. The pull is attractive to employers, and it’s a powerful guide to help you navigate the inevitable ups and downs of a career change. If you are just pushed out of your current situation – literally pushed out because your apathy caused your performance to drop or you quit out of feeling bored and undervalued – then quitting isn’t going to give you any more clarity. It’s just going to make you more anxious as your savings run down.

2. Your company may have unforeseen opportunities.

As key employees are departing companies, they’re triggering an organisational shuffle. Their departures could mean opportunities for you to take on new responsibilities, build new relationships, and be seen with fresh eyes by management.

If you’ve been building the right relationships, you can take advantage of this moment to both develop your skill set and add value to the organisation. You could end up with a new role — either a great lateral move or a promotion — or an opportunity to lead or participate in a strategic initiative that offers you increased visibility. The pandemic has led many companies to revisit their strategic goals and initiatives. As in poker, sometimes it’s best to just hold ‘em until you see everyone’s cards and can make an educated decision around your future.

3. You can’t name at least three professional connections who you could call right now to jumpstart your job search

Your network is so important to your job search and not just because it helps to have referrals. Even if you don’t get an introduction to a job, your network can provide information. For example, information about the people you’ll be interviewing with – what their personalities are like, what their work priorities are. Industry experts can give you nuance about the trends and challenges facing your dream employers so you can impress them with how much you already know. It’s so much more effective to tend to your network when you don’t need anything. Otherwise, getting back in touch feels contrived or even manipulative. Don’t be the person who only gets in touch when they need something. Before you quit your job, invest several weeks, if not months, on rekindling your professional connections. You want to flex your dormant networking muscles when you can take your time. Otherwise you risk rushing the process and overstepping your ask, a networking mistake even the smartest professionals make.

4. The best time to stretch your capabilities is in a job you hate

You can practice negotiating hard because if they fire you, that just means you get severance instead of quitting with nothing. You can practice pushing back on unreasonable requests or pitching ideas without fear of rejection because you have nothing to lose. You can finally set boundaries with your needy colleagues because you won’t see them soon enough. The best time to expand the negotiation, communication and relationship skills that you know you’re going to need in every job is in the job you have right now. At the very least, you were leaving anyway so if things get awkward, you’re out of there. But at its best, you might find that you greatly improve your environment, your relationships, even your stature. You might feel better enough about your job that you no longer want to quit.

5. It’s a great time to negotiate

Not completely happy with your current situation? Employees have unprecedented leverage at this time to reasonably discuss pay, working conditions, growth opportunities, workplace flexibility, and career-development benefits such as executive education and coaching support. Use this moment to approach your manager and have an open and professional dialogue around what’s possible and what will help you do your job even better. Keep it friendly and conversational — and come armed with data about your performance to make it easy for them to go to bat for you. Savvy companies are focused on retention and acutely aware of the risk and cost of losing great employees like you.

If you’re evaluating your work situation and not quite sure whether to stay or go, reflect on these questions:

  • How satisfied am I in my job now? Consider everything from equitable pay, meaningful work, acceptable working conditions, benefits, job stability, healthy workplace culture, and opportunities for continued growth.
  • What is likely to change (both positive and negative) at my company over the next six to 12 months? How could those changes benefit my career journey? Remember that a bad situation can still be an opportunity to grow given the right conditions.
  • What actions can I take to increase the likelihood of moving into a more fulfilling within my company? Don’t hesitate to ask this question of your manager or other trusted advisors.

If you believe you have the ingredients you need to make the most of staying put, speak with your boss, sponsor, HR, and other people who support you. Demonstrate a powerful case for what you bring to the company, and express your commitment to being flexible and achieving company objectives. Stay connected with others, creating informal information networks, and don’t stop building your industry connections. Know your organisation and manager’s goals and volunteer strategically to contribute where you can make a positive impact. Staying put and doubling down is often the most effective strategy to get you the role and work life you’ve been dreaming about.

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:

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Sources:

https://www.lifehack.org/articles/work/5-reasons-why-you-shouldnt-always-just-quit-job-you-hate.html
https://hbr.org/2021/10/5-reasons-not-to-quit-your-job-yet
https://m.economictimes.com/wealth/earn/7-right-reasons-to-leave-your-job-and-when-not-to-quit/articleshow/64803340.cms

Decision-Making Myths – Debunked

Decision-making is not fortune-telling, and good decisions do not always result in predictable outcomes.

Can you imagine life without your smartphone? So many of us can’t. We depend upon them for everything from directions to telling us the temperature outside to tracking our daily steps and heart rate. Our “Hey, Siri” culture has conditioned us to equate speed with efficiency and efficacy — and it’s changing how we process information. Our brains have become conditioned to respond with pleasure to the bings, pings, and dings our phones and computers provide.

While Siri and Alexa and Google are great when we’re jonesing for Italian food and want help finding a restaurant, they’re not great, or even desirable, when it comes to complex decision-making. In fact, they help enable a series of counterproductive ideas and reactive behaviors that actually impair your ability to make informed decisions. For example, let’s say you want to buy a car. Maybe you’re weighing a Prius versus a Crosstrek. Siri and Google can give you all sorts of information, such as fuel efficiency or the current interest rate on your loan. But a search engine won’t know why you’re buying the car, how you intend to use it, or what impact the purchase will have on your budget. Ultimately your decision needs to come from a clear understanding of your needs, values, and goals — information that’s outside the reach of their algorithms.

The most important things you need to learn often aren’t formally taught when you’re young. For example, many lament that teenagers aren’t educated on how to manage money. It’s a fair criticism. Evidence suggests a severe lack of knowledge around basic personal finance; a 2018 survey found that less than 50 percent of respondents could correctly define what interest is, the concept of bankruptcy, or how inflation works. In the absence of knowledge, myths creep in. One example that gets attention this time of year is the “benefit” of receiving a tax refund. This is a myth. In almost all cases, receiving a substantial refund isn’t a good thing. After all, you lent the government money—interest-free— throughout the year. 

Another myth: All college degrees are a sound financial decision. Data suggests that some people spend way too much money on a degree that won’t land them a job with a salary sufficient enough to make the investment worthwhile. It’s part of the reason why there’s a student debt crisis. Like personal finance, management isn’t something most people study formally—although HBS Online offers a Management Essentials course. Most people learn management “on the job,” and in fits and starts. As with personal finance, myths often develop for those who’ve never received management training.

On January 15th 2009 the world witnessed an unusual incident. The press called it ‘Miracle on the Hudson’. On that unforgetable day, an Airbus A320 aircraft with 150 passengers and crew members on board, encountered multiple bird strikes. They damaged the turbofan engines to the extent that both the engines of the aircraft became immobile.

In that situation, Captain Chesley B. Sullenberger took a bold decision to land the unpowered aircraft on the Hudson River. Fortunately, it was a safe landing and the lives of all 150 passengers and crew members were saved. This was truly unprecedented. Such events allow us to appreciate the criticality of making the right choices in times of crisis. It proves that a decision can be a life changing one and that too not just for an individual, but for an entire nation. Though decision making is a critical survival skill, research shows that it is prone to biases. Hence, it is worthy of deep study.

Myths About Decision-Making

1. I like to be efficient

So many of us think efficiency means jumping right in and making a decision. But to be truly effective, we need to be clear on what we are solving for. Rushing can lead you to make a decision based on the wrong factors, which ultimately will lead to regret. For example, walking into a car dealership and buying the first car you see may feel efficient, but may mean you end up with the car the salesperson wants to get rid of, not the car that best fits your needs and budget.

2. I just need to solve this problem at this moment

This is the classic example of “losing the forest for the trees.” Our problems sit in a context. A narrow focus may solve the wrong problem, or only partially solve the problem. If your car breaks down unexpectedly and you rush out to buy a new one, are you considering your needs beyond the present?

3. This is my decision alone; I don’t need to involve others 

Our important decisions do involve other stakeholders. Avoiding this bigger picture of who else is affected by a decision can, at best, only partially solve the problem, and may exacerbate it. For example, if your spouse or child can’t drive a stick-shift, do you really want to buy a manual transmission car that no one else in the family can get out of the driveway in an emergency?

4. I know I’m right; I just want data or an opinion to confirm my own thinking

Also known as “confirmation bias,” this decision-making flaw has been behind notorious failures from the Bay of Pigs to the subprime loan market implosion to the NASA Challenger explosion to the Deepwater Horizon environmental catastrophe. In each case, disconfirming data was available and should have raised concerns, but groupthink set in, and no one wanted to raise the red flag. To better understand and define the limitations of what you think you know, look for contrary examples and evaluate rival explanations. These techniques can prevent “frame blindness” to keep you from seeing what you want to see rather than what may be present. For example, maybe you’ve settled on the Crosstrek in your car search, but you decide to look around anyway. Could your preference for the Crosstrek influence how you evaluate the other cars? Could you be looking to confirm your inclination rather than buy the best car for your needs? To pry open cognitive space, first consider your needs and then look for cars that fit those parameters.

5. Decision-making is linear

In fact, good decision-making is circular; it needs a feedback loop as we gather information and analyze it and our thinking. At times we need to go back to find information we’ve glossed over, or to gather new information or conduct a different kind of analysis. When buying a car, for example, you might think that doing your research first and then going to a dealer and negotiating a price is enough. But there are many dealers, and they each have leeway to negotiate a price, so circling around and comparing offers may get you a better price.

6. There’s just one way to do this

Whether it’s how the bed should be made, which diet to follow, or how to divide up your retirement account, there’s always more than one way to get to “yes.” We’ve been conditioned out of listening to other voices, siloed in our information, environment, and social (media) circles. But getting outside your routines and patterns leads you to seeing things differently. You may always have gone into the dealership to buy cars, but more and more, people are negotiating car purchases online and through texting and email.

7. I have all the information I need

 While we may want to forge ahead, we can improve our decisions — and our satisfaction — by investing in a little bit of research and confronting assumptions with evidence. Your best friend might love her car, but that doesn’t mean it’s the car for you, particularly if it won’t fit your daughter’s hockey equipment. Looking to the experts, such as Consumer Reports, which does substantive research, can help you make an educated decision that’s also right for you.

8. I can make a rational decision

Psychologists far and wide, such as Amos Tversky and Daniel Kahneman, have demonstrated that as much as we’d like to believe it, none of us are rational. We all operate through a dirty windshield of bias based on past experiences and feelings. You might think you won’t get taken in by a car dealer, but they are professional salespeople who know how to evoke an emotional response.

For all our talk about the importance of management, it seems to be one of the most mysterious business disciplines. As with any realm shrouded in mystery, myths develop to help individuals understand what they know little about. But beware of believing them. While some myths point to the truth, many don’t. The best anecdote for knowing which myths are helpful shorthand and which are falsehoods? Education.

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:

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Sources:

https://www.johnolivant.com/2020/07/16/the-myths-surrounding-decision-making/
https://www.greenbook.org/mr/market-research-news/4-common-myths-about-human-decision-making/
https://eugenie.ai/3-myths-about-decision-making-busted/

What Is Your Next Career Move?

As you begin to think about the type of career transition you want to make, start out by documenting what you already know to be true about your professional self. Pay close attention to your workday for the next two weeks, and take notes about when you’re feeling particularly unmotivated or unenthused about your job. Write down the tasks that bring you down as well as those that get you excited. It may seem like a tedious exercise, but if you stick with it, patterns will start to emerge. And it’s in teasing out these patterns that’ll help you build a picture of the role that’s right for you.

To make the right choice, you have to decide what factors are most important to you in a new job, and then you have to choose the option that best addresses these factors. However, this operates on two levels – on a rational level and on an emotional, “gut” level. You’ll only truly be happy with your decision if these are aligned. This article gives you a framework for analysing your options on both levels.

First, we have to look at things rationally, looking at the job on offer, and also at the things that matter to you. Then, once you’ve understood your options on a rational level, we can start looking at things on an emotional level and think about what your emotions are telling you.

You need to get in touch with your inner self and think about how well the career options fit with your overall sense of self and personal fulfilment. Ask yourself:

  • Do I feel like it is the right choice?
  • Do I feel positive about the choice?
  • Does this choice further my career and life goals?

If something doesn’t feel right, then you need to understand why. Are some factors of over-riding importance? Or are other factors important that are not mentioned? Take the time to make sure that you’re comfortable with your analysis, and that you’re confident that you’ve made the right decision, both on a rational and emotional level.

When you have an option that fits both objectively and subjectively, chances are you’ve got a winning career move.

In order to discover the right choice or choices you will have to follow an organised process in order to increase your chances of making a good decision.

1. Assess Yourself

Before you can choose the right career, you must learn about yourself. Your values, interests, soft skills, and aptitudes, in combination with your personality type, make some occupations a good fit for you and others completely inappropriate.

Use self-assessment tools, and career tests to gather information about your traits and, subsequently, generate a list of occupations that are a good fit based on them. Some people choose to work with a career counsellor or other career development professionals who can help them navigate this process.

2. Identify Your Goals

Identify your long- and short-term goals. This helps to chart a course toward eventually landing work in your chosen field. Long-term goals typically take about three to five years to reach, while you can usually fulfil a short-term goal in six months to three years.

Let the research you did about required education and training be your guide. If you don’t have all the details, do some more research. Once you have all the information you need, set your goals. An example of a long-term goal would be completing your education and training. Short-term goals include applying to college, apprenticeships, other training programs, and internships.

3. Lists of Viable Occupational Options

You probably have multiple lists of occupations in front of you at this point—one generated by each of the self-assessment tools you used. To keep yourself organized, you should combine them into one master list.

First, look for careers that appear on multiple lists and copy them onto a blank page. Title it “Occupations to Explore.” Your self-assessments ​indicated they are a good fit for you based on several of your traits, so they’re definitely worth exploring.

Next, find any occupations on your lists that appeal to you. They may be careers you know a bit about and want to explore further. Also, include professions about which you don’t know much. You might learn something unexpected.

4. Shortlist

Now you have more information, start to narrow down your list even further. Based on what you learned from your research so far, begin eliminating the careers you don’t want to pursue any further. You should end up with two to five occupations on your “short list.”

If your reasons for finding a career unacceptable are non-negotiable, cross it off your list. Remove everything with duties that don’t appeal to you. Eliminate careers that have weak job outlooks. Get rid of any occupation if you are unable or unwilling to fulfil the educational or other requirements, or if you lack some of the soft skills necessary to succeed in it.

5. Informal Interviews

When you have only a few occupations left on your list, start doing more in-depth research. Arrange to meet with people who work in the occupations in which you are interested. They can provide first-hand knowledge about the careers on your short list. Access your network, including LinkedIn, to find people with whom to have these informational interviews.

6. Deciding which Career to Follow

It can actually be harder to make a decision when you have more jobs to choose from. You may have to juggle multiple job offers, which can be stressful.

Don’t say “yes” right away. Take the time to evaluate each offer and to carefully compare employee benefit packages. It’s not all about the money—the benefits and perks you’re being offered are important too, and some perks can be negotiated in a job offer.

Don’t rush into a decision. Take the time to carefully consider all options. Forget about the ones you didn’t take once your decision is made; instead, focus on the future and get ready to start your new job.

Careers evolve over time, so instead of stressing about getting your trajectory exactly right, focus on setting yourself up to make an informed decision about what to pursue. Building a career is a process, and understanding that is a part of succeeding.

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:

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Sources:

https://hbr.org/podcast/2021/02/choosing-whats-next-for-my-career
https://www.forbes.com/sites/glassheel/2016/10/11/6-questions-to-define-your-next-career-move/?sh=768e7e95386c
https://www.themuse.com/advice/4-moves-to-make-if-you-still-have-no-idea-what-you-want-to-be-when-you-grow-up

How to Empower Employees to Speak Up When They See Misconducts

More than 50 years after the term “bystander effect” was coined, many of us still witness workplace wrongdoing yet stay stubbornly silent. In motivating employees to speak up, most organisations still rely on traditional compliance-based tools such as codes of conduct, training, and audits. This approach has simply failed — only an estimated 1.4% of employees blow the whistle. Current strategies remain ineffective and are often counterproductive.

This matters because organisational silence perpetuates white-collar crime: It continues to rise despite companies investing millions in misconduct prevention. Scandals have slashed market valuations and ravaged the reputations of Boeing, BP, Barings, and many others. The leading cause of silence is fear of repercussions. One study showed that 82% of whistleblowers suffered harassment, 60% lost their jobs, 17% lost homes, and 10% attempted suicide. Other causes include our unconscious need for belonging, a preference for the status quo, and wilful blindness.

How can organisations motivate employees to speak up and respond to them effectively? The answer lies, of course, in behavioural science.

What Companies Often Do Wrong

Before delving into the solution, we need to understand three common mistakes or assumptions that companies make in combating misconduct.

The wrong tools. Organisations over rely on a narrow set of compliance and control tools to prevent wrongdoing and encourage its disclosure. How effective were codes of conduct, training, or audits when Volkswagen falsified the emissions of its diesel cars? Or safety training and testing when Ford launched the Pinto with a fuel-tank design flaw, saving $137 million but costing dozens of lives? The answer: Not very. Few spoke out. Why? Because sanctioning systems distort our thought process from doing the right thing. When rewards such as promotions, perks, or pay raises are threatened, self-preservation creeps in, and we use a business lens, not a moral lens, to decide what to do.

The wrong communication triggers. When companies design compliance policies and codes of conduct, they hope they will trigger our sense of duty and moral responsibility to speak up if we see bad behaviour. But they don’t inspire many people to speak up. For example, an independent longitudinal analysis concluded that codes of conduct are “insufficient to guide employee behaviour – tension-provoking when implemented across cultures – inward-looking – and dependent on effective communications.”

In many research papers done on this topic, respondents were exposed to a hypothetical situation where a senior executive bullied a junior employee to accelerate launch of a new drug, despite incomplete testing. The emotion triggered was not a feeling of responsibility to speak up, but anger at the offending manager — by a factor of four. But while 91% of respondents indicated they intended to report the incident, only 9% took action, and most associated speaking up not with responsibility but with the courage to report their superiors. Bystanders justify their inaction in what psychologists call diffusion of responsibility: the assumption others will intervene. The bigger the group, the bigger the assumption, and the bigger the problem.

The wrong assumptions about employee types. Assuming that certain populations or personality types — e.g., extroverts, optimists, or leaders — are predisposed to speak up is incorrect. Behavioural science shows that men are no more likely to blow the whistle than women, and extroverts no more likely than introverts, regardless of industry or occupation. There is no magic gender, disposition, age or personality. Anyone can speak up.

An Integrated Solution

Given that codes of conduct, training, and audits alone don’t suffice in getting people to speak up when they witness improper behaviour, other steps must be taken. Risk and compliance departments should engage with communications departments, and compliance-based tools must be supplemented with emotion-based triggers.

Based on decades of behavioural science research there have been discovered numerous strategies which work hand-in-hand with traditional compliance practices.  Managers can apply all the changes or simply cherry-pick a few. The best mix depends on a company’s culture, size, and systems.

1. Get Rid of Your “Zero Tolerance” Policies

You’re probably thinking, “Did I read that right? I thought zero tolerance is important, especially when you are talking about violence, fraud, safety, or harassment.”

To be sure, it is critical to have strongly worded and vigorously enforced policies, especially when dealing with behaviour that is illegal, that threatens employee or public safety, or that jeopardises company assets. But if your policies say (or imply) that an employee will be fired if they violate that policy, without any possibility of a lesser outcome depending on the severity of the behaviour, you may actually be dissuading employees from reporting possible concerns.

The Equal Employment Opportunity Commission (EEOC) has cautioned that using the phrase “zero tolerance” may lead employees to believe that the company will automatically impose the same discipline–termination–regardless of whether misconduct is minor or devastating. But employees often don’t want their co-worker, or even their boss, to get fired over a minor offense. They frequently just want the troubling behaviour to stop, so they may opt to forego reporting and try to deal with the situation on their own, or ignore it. This can cause the behaviour to continue or to escalate, or lead to other workplace conflicts.

2. Prevent Retaliation

This point may seem incredibly intuitive, but if employees see or hear that someone has experienced retaliation after they reported a concern–or even if they simply fear that they will be retaliated against–they are less likely to come forward.

The number and percentage of retaliation charges filed with the EEOC, for example, indicates that retaliation is a big problem. Since the EEOC’s 2009 fiscal year, retaliation has been the no.1 complaint filed with the EEOC, and by FY 2018, over 50% of all charges alleged retaliation. In fact, the EEOC received 1.5 times more retaliation charges in FY 2018 than the next most frequent type of illegal behaviour, sex discrimination (32% of charges), notwithstanding the significant increase in those claims filed post #MeToo.

The challenge is that retaliation can take many forms, from subtle (a supervisor removing an employee from a lucrative project) to egregious (demotion or firing). Compounding the issue is that it is human nature to feel upset toward or uncomfortable around someone who has complained about you or someone on your team. People may feel betrayed, hurt, or confused–and as a result, may change their behaviour for a time vis-a-vis the person who complained. Some of these behaviours are illegal and some aren’t–but all can damage workplace culture and make employees think twice about coming forward in the future.

For these reasons, it is critical for employers to put safeguards in place to prevent retaliation, such as proactively and periodically checking in with whistleblowers to see how they are doing, or monitoring proposed job changes, performance evaluations, or other data post-complaint to ensure non-retaliatory treatment. Equally important, the employer also should provide coaching on conflict management and how employees can move forward in a collaborative manner post-complaint.

3. Encourage and Reward Speaking Up in the Workplace

In stark contrast to retaliation, organisations who truly want to know about concerns and who understand the value of having an accurate picture of what’s happening on the proverbial factory floor will take steps to encourage and reward speaking up.

This goes beyond simply communicating a “see something, say something” slogan. Company leaders must clearly and repeatedly articulate an authentic desire to know the good, the bad, and the ugly, and reward employees who follow through.

Here we have the example of former CEO of Ford Motor Company, Alan Mulally. He told the story of how when he first became Ford’s CEO, the company had many financial challenges and a rocky road ahead. Yet, at early meetings with his senior executive team, they each presented “all green” status reports indicating that their areas were on target to reach their goals. Mulally knew this couldn’t be right given the company’s struggles, so he encouraged one of his direct reports to ensure that his next report reflected the honest truth about what was going on.

When that subordinate’s next report at the executive team meeting showed several “red status” items, Mulally praised him enthusiastically for his candor and then asked the other executives in the room about what they could all do to help turn the situation around. Then, the following week, other executives’ reports also began to reflect “red” and “yellow” items. And once Mulally had accurate, unfiltered data, it was quickly apparent where the business was struggling–and what they could do to address it.

This two-pronged approach by Mulally–asking to know the truth and then praising the reporter publicly–was a game-changer. It proved to staff they could speak the truth without reprisal and created trust. And as a result, the company’s business was able to improve.

4. Gather Data About Reporting

If you find that workers rarely speak up about conduct violations in your organisation, one of the best steps you can take is to assess why. You may find it is as simple as a lack of awareness of policies or procedures to report incidents, in which case you can develop resources and training to make sure employees know where to go. If you find your workforce is fearful of retaliation or doesn’t feel reports will be addressed, then that information can also help the organisation to correct misperceptions, put anti-retaliation safeguards in place, and find ways to increase transparency about the post-report process.

5. Be Transparent

One of the other oft-reported reasons why employees do not speak up with a concern is because they do not believe that any action will be taken. When employees hear crickets after filing a complaint, a natural assumption is that nothing happened.

Of course, as HR, compliance, safety, and legal professionals are well aware, reported concerns generally set into motion a flurry of activity and often lead to an investigation. The contents and progress of an investigation are usually kept close to the vest to preserve the integrity of the process, and the results are usually confidential for privacy and legal reasons.

However, organizations are increasingly realizing that some degree of transparency about what happened is important to demonstrate accountability, earn trust, preserve culture, and encourage reporting. Thus, organizations should consider having follow-up meetings with the reporter and any witnesses involved in an investigation to thank them for coming forward or participating, noting that an investigation was conducted and concluded, and possibly sharing–often at a very high level and depending on the person who is being spoken to–if some sort of (usually unnamed) action would be taken as a result. Encouraging a speak up culture is a critical component of an organization’s efforts to not only ensure compliance with legal requirements and company policies but also to address inappropriate behaviour before it escalates into a larger issue. It creates a sense of shared responsibility among employees, communicating that we all have a role to play in safeguarding workplace culture. Leaders who encourage employees to speak up in the workplace, and who protect and reward those who do, demonstrate their commitment to an honest, ethical, and respectful workplace. By doing so, all employees–and the company–will thrive.

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:

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Sources:

https://everfi.com/blog/workplace-training/5-ways-to-encourage-a-speak-up-culture-in-the-workplace/
https://www.forbes.com/sites/forbescoachescouncil/2020/05/22/13-best-ways-to-encourage-your-employees-to-speak-up/?sh=7063b1d41f2b
https://www.corporatecomplianceinsights.com/empowering-employees-to-speak-up-against-unethical-behavior/

Improving Decision-Making and Group Performance

Running a business is nothing more than making a series of important decisions. For a business owner or manager, each day is filled with decision-making, with some of those decisions likely meaning the difference between profit and loss. It can become stressful to make such important decisions day after day, especially if you are trying to make them all on your own.

In many cases, it will be better to make decisions as part of a group. When a group comes together to make an important choice, the company as a whole will enjoy several advantages. For one thing, the knowledge of all of the various people in the group will be used to make the choice, not just the knowledge of one individual. There are sure to be many different backgrounds and types of experiences within the group, which means great things for the quality of the final decision. Also, bad ideas tend to get filtered out in the group setting, meaning the eventual choice is less likely to be a dud.

With all of that said, group decision-making is not perfect. It can be tough to get everyone on the same page, meaning it may take quite a bit of time to make an eventual decision, even if that decision does wind up being a good one. To make the group decision making process run as smoothly as possible, you may wish to employ one of the methods outlined in the content below. We have identified a few methods for group decision making, so there is a good chance that one of these options will be right for your needs.

The Hoy-Tarter Model of Decision-Making

Originally created for use within a school system, the Hoy-Tarter Decision-Making Model can actually be applied in a number of different settings. If you are the owner or manager of any kind of organisation, you already know just how difficult it can be to make decisions. Specifically, it can be hard to decide how to make those decisions, in terms of who you should include, what you should consider in the process, and more. Making good decisions is a key to success in business, but you can only make good decisions if you have an appropriate process in place.

In this model, the main goal is to figure out exactly who should be included in the decision-making process. Different decisions are going to require different inputs from various people, so determining who should be included in making the decision (and who should be left out) is a key step not to be overlooked. Including the wrong people, or failing to include the right people, is a mistake that can have serious consequences.

If you decide to take a closer look at how to use this model, you will find that it requires you to create a matrix which will be filled with evaluations of expertise and whether or not an individual has a personal stake in the decision. It can take a bit of time to understand exactly how this model works, but it’s worth the effort because of its effectiveness.

Multi-Voting

If you would like to use voting to help make important organisational decisions from time to time, you may wish to employ the popular Multi-Voting Decision Making method. With this method, you can select the most popular options from a list in order to get an idea about the consensus of the group. Multi-voting is not always the right solution when trying to make a decision, but it can be perfect in specific circumstances.

If you would like to use the Multi-voting method, the first thing you need to do is develop a list of ideas that are going to be the subject of your vote. Ask the team that is working on this project to collaborate on a list. At first, you can put any idea that is presented onto the list, but you will want to slightly narrow down and ‘clean up’ that list before it goes to the vote. Before taking the vote, you will want to decide on exactly how many votes each individual is going to be given. Generally speaking, each person should be allowed to vote for roughly 1/3rd of the ideas on the list. So, given a list of 15 items, each person would be allowed to place five votes (thus the name ‘Multi-voting’). Of course, you are free to alter the number of votes allotted as you see fit, but the 1/3rd rule is a good place to start.

With all votes cast and collected, all you’ll need to do is count up the totals and determine the winning ideas. If you would like, you can narrow down the list of contenders and do the vote again, further concentrating your list to just a few of the strongest options. Multi-voting is the perfect way to gauge the opinion of a large group when several ideas are on the table.

Hartnett’s CODM Model

In this application, CODM stands for ‘consensus-oriented decision-making’, and that title tells you just about everything you need to know regarding the goal of this model. The idea here is to bring your group to a consensus as far as the best decision for the situation at hand. Once you have a group assembled that you are going to use to help make this important decision, Hartnett’s CODM Model calls for following through with a seven-step process. The seven steps are as follows:

  • Framing the problem
  • Having an open discussion
  • Identifying Underlying Concerns
  • Developing Proposals
  • Choosing a direction
  • Developing a preferred solution
  • Closing

Regardless of the decision that needs to be made, this is a solid framework that you can use to walk through the process from start to finish. Of course, it may be necessary to tweak the model slightly in order to have it fit nicely with the needs of your organisation.

Delphi Technique

When a team truly struggles to reach a consensus for a major decision, you may need to step in and narrow down the options for them. The Delphi Technique takes all the ideas and compiles them for the manager of the group to break down into a smaller amount of possibilities. He or she then takes the remaining options back to the group for their consideration.

If the team continues to grapple over the resolution, the manager will condense the choices even further until they can make a decision. It gets easier for groups to reach an agreement when there are fewer outcomes available.

Rank the Possibilities

Rankings work for determining who is the best within sport leagues like the British Premier League and NFL, so why wouldn’t they work for a business as well? Whether you decide on an idea’s ranking by using a voting system or working as a team to prioritize them, it can be a great group decision making process for issues or questions that have many potential outcomes.

This technique can be organised through email, an online communication tool, or in a brief meeting. One specific way to determine how the possible scenarios should be ranked is by having everyone make a personal list of how they would rank them. Then, combine the lists and do some basic math to determine the average spot where each possibility should be represented.

By using one or more of these strategies in your business, you will see a dramatic increase in productivity and resolving issues among your team. Take a look at some of the upcoming choices your team will need to make soon and determine which of these tactics will be the most effective.

There are also numerous team-building activities you can do with your group to boost your team’s collaboration even further. Give these ideas a try and see if it makes your group decision making processes easier than ever before.

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:

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Sources:

https://hbr.org/2020/09/7-strategies-for-better-group-decision-making
https://upraise.io/blog/group-decision-making-techniques/
https://airfocus.com/blog/guide-to-group-decision-making-techniques-tools/

Employers’ Organisational Reaction to COVID-19

The coronavirus outbreak that originated in Wuhan, has lead to a global pandemic. Governments have shut borders and imposed quarantines, and companies have imposed travel bans. The human and economic impacts on businesses have been stark.

This epidemic has been a wake-up call for companies to carefully review the strategies, policies, and procedures they have in place to protect employees, customers, and operations in this and future epidemics.

With industries including travel, hospitality and retail under extreme financial pressure as a result of measures to limit the spread of coronavirus in the UK, many businesses are facing difficult decisions when it comes to the employment of staff.

The impact on businesses is already significant. Individuals have been told to avoid bars, clubs and theatres, and many events have been cancelled. Much of the UK’s car production has paused and airlines such as British Airways have advised staff to prepare for layoffs.

Some businesses have made it clear they are doing all they can to avoid making staff redundant. Former England footballer Gary Neville took to Twitter to assure his followers that although his two Manchester hotels would be closed to the public from next week, no staff would be made redundant or asked to take unpaid leave.

Employers needed to consider all options available to help them to manage workforce costs and avoid redundancies, said Ben Willmott, head of public policy at the CIPD. For some organisations this would mean considering measures beyond maximising home working and restricting overtime to keep people in jobs, he said.

Director of Epic HR, Gary Cookson, noted that all these measures will inevitably come with their own downsides, and there wouldn’t be a ‘one size fits all’ approach for all businesses, or indeed all staff members. Cookson advised organisations to talk openly to staff about the options, but added that HR “might be surprised by the [positive reaction among staff to] creative responses to the situation, particularly if it is made clear that the business wants to avoid redundancies”.

Updating Benefits Policies 

The likelihood that increasing numbers of employees will be unable to work either because they are sick or must care for others means that companies should review their paid time off and sick leave policies now. Policies that give employees confidence that they will not be penalized and can afford to take sick leave are an important tool in encouraging self-reporting and reducing potential exposure. Our employer survey found that nearly 40% of employers have or plan to clarify their pay policy if worksites are closed or employees are furloughed.

While few companies outside of Asia have closed worksites yet because of the epidemic, about half of the Chinese companies we surveyed had shut down worksites at least temporarily. Such closures will likely become more common outside of Asia should the epidemic continue on its current course.

Most firms will treat Covid-19 in their policies as they would any other illness, and sick leave or short-term disability insurance would be applicable.  However, exclusion from the workplace might not be covered by disability policies, and prolonged absence could last longer than available sick leave. Our survey found that more than 90% of employers in China paid their workers in full and maintained full benefits during furloughs. Companies should promulgate clear policies on this now and communicate about these with employees. Most will want to offer protections to their workforce to the extent this is financially feasible.

Ensuring employees can effectively work from home

While many jobs (retail, manufacturing, health care) require people to be physically present, work, including meetings, that can be done remotely should be encouraged if coming to work or traveling risks exposure to the virus. Videoconferencing, for instance, is a good alternative to risky face-to-face meetings. Nearly 60% of the employers we surveyed indicated that they have increased employees’ flexibility for remote work (46%) or plan to (13%).

Communicating with Employees on non-working Issues

Dangerous rumours and worker fears can spread as quickly as a virus. It is imperative for companies to be able to reach all workers, including those not at the worksite, with regular, internally coordinated, factual updates about infection control, symptoms, and company policy regarding remote work and circumstances in which employees might be excluded from or allowed to return to the workplace.  These communications should come from or be vetted by the emergency response team, and they should be carefully coordinated to avoid inconsistent policies being communicated by different managers or functions. Clearly this requires organizations to maintain current phone/text and email contact information for all employees and test organization-wide communication periodically. If you don’t have a current, universal contact capability already, now is a good time to create this.

Cancelling Conferences & Rescheduling Meetings

Yes. There is mounting evidence that social distancing can delay the epidemic and potentially save lives, so most meetings and conferences should be converted from in-person to virtual. Some states and localities are banning meetings of more than 250 people. If you have a meeting, limit the number of attendees and encourage those who are older or have chronic disease to attend virtually. Provide room to allow attendees to sit or stand at least six feet away from others. Discourage hand-shaking and assure that proper handwashing facilities (and/or hand sanitizers) are easily available. If you have any questions about best practices, contact your local health department.

Prepare staff for other roles

With many organisations facing a significant drop in business as a result of social distancing measures, many staff may find themselves unable to carry out their jobs in the same way, either because they are not needed or because the nature of their role means they can’t work from home. To work around this, employers can consider offering different duties to those staff that reflect the new needs of the business, said David Harris, managing partner at DPH Legal.

But, Harris added, such measures were subject to employees having the right terms in their contracts. Anything that amounted to a variation in an employee’s contract needed their consent, he said, suggesting that in such cases employers should consult with individuals and come to agreements on a one-to-one basis. “Obtaining consent before you press ahead is important because otherwise you’re risking a claim arising,” he said.

Prepare staff to temporarily join other businesses

There are already some encouraging stories circulating of staff within the hardest hit sectors being redeployed to other now high-demand areas. For example, earlier this week (18 March), it was announced Inverness theatre company Eden Court was to work with its funders, the Highland Council, to find ways for its 200 employees to join the authority’s response to Covid-19.

The theatre was faced with laying off 200 staff, with 75 per cent of its income coming from ticket sales and bar/cafe takings. Details were still under discussion, but potential options included using the engagement team, who already work with children, young people and the community, to collaborate on the delivery of education projects for young people in the Highlands.

There are also recruitment platforms which are helping businesses with their vacancies – such as in the logistics sector for example – to be matched with companies faced with having to let staff go who might possess relevant skills.

Reduce hours

One obvious option many employers have already looked at is reducing employees’ hours to share the salary hit fairly and evenly among staff. Martyn Dicker, director of people at Unicef UK, said this was something he’d had to consider in previous similar situations in the past, and something which could work well. 

But Jo Stubbs, global head of product content strategy at XpertHR, warned employers attempting to reduce working hours unilaterally without such powers being written into workers’ employment terms, could amount to a fundamental breach of contract. “In these circumstances, the employee could pursue a claim for an unlawful deduction from wages, breach of contract or constructive dismissal,” she said.

Employers should speak to their personnel to gain voluntary consent for any cuts to hours outside of their contracts, and suggested putting any agreement in writing.

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:

B_txt_14

Sources:

https://www.peoplemanagement.co.uk/news/articles/coronavirus-employers-avoid-redundancies
https://hbr.org/2020/03/8-questions-employers-should-ask-about-coronavirus
https://www.forbes.com/sites/alonzomartinez/2020/03/03/what-employers-should-consider-amidst-a-coronavirus-crisis/#49e6371a2180