WELCOME TO 2022 – YEAR OF RENEWAL

The workplace has undergone enormous changes over the last two years. People have been forced to work remotely, there have been cuts in salaries and jobs, job security is non-existent and career planning seems like a distant memory for many.

Diligent, hard work at our jobs, has been our traditional norm. We would progress through the ranks, get regular increases and eventually retire with a sustainable pension after having had a financially and stimulating career.

WOW – What happened????

KABOOM!!!!

  • COVID, caused economic implosions, recession and desperate greed.
  • Loyalty is no longer a safeguard against redundancy, re-structuring and bottom line pressures.
  • Corporates have had to become more ruthless to stay afloat.
  • Stakeholders don’t care about the personal costs and consequences of the actions required to achieve the goals set.
  • Governments have shown their power through lockdowns and the throttling of economic growth and progress.

Please do not mistake the above statement for absence of the need for necessary HEALTH, SAFETY AND WELL-BEING

  • Your people are your most valuable asset. 
  • They are the fuel that powers the engine.

Yet – have we, as managers, stayed in touch with what it is that drives, thrives and even deprives our people.

We MUST get back to some form of extra-ordinary normality.

EMPOWERMENT and CAPACITY BUILDING must take Centre Stage

YOUR BOARDROOM brings a new perspective to simple Business Support in this Volatile, Uncertain, Complex and Ambiguous world we face.

VUCA is the new REALITY!!!!!!

LEADING VIRTUALLY

In this transforming world, virtual platforms have become the norm.

Many people are asking the question,

“How do I lead effectively in the virtual world?”

Here are some key tips:

  • Leaders and members need to spend a lot of time on relationship building
  • The higher the level of trust, the more open people will feel which in turn will have a positive impact on performance
  • Trust consists of interpersonal and task-based trust elements
  • Task based trust takes longer to build
  • Trust is necessary for a constructive atmosphere and for team members to feel at ease in expressing their opinions and relying on team members to complete tasks
  • Building and maintaining trust among the virtual team is critical to creating a productive environment.
  • Leaders need to be more mindful of their own perception and also the situation of others in the virtual space
  • Virtual teams tend to drive straight into the task elements especially at the early forming stages,
  • Research shows that teams which focus more attention on relationships tend to avoid conflict later on and overall have higher levels of performance
  • Lastly, the communication platform should be appropriate for the situation and leaders should not focus/rely on 1 form of communication only e.g. monthly one on one Face to face meetings for added relationship building.

Important to note:

  • To be able to work remotely requires people who are more self-motivated and independent
  • Self-management skills (good time management, good energy management)
  • Above-average self-motivation
  • Very strong oral and written communication skills
  • Naturally proactive

Contact us to discuss the process transformation and implementing this critical issue

 

Are you in touch with your staff?

The workplace has undergone enormous changes over the last two years.

People have been forced to work remotely, there have been cuts in salaries and jobs, job security is non-existent and career planning seems like a distant memory for many.

In the past we were taught that if we worked hard and diligently at our jobs we would progress through the ranks, get regular increases and eventually retire with a sustainable pension after having had a financially and stimulating career.

COVID as well as corporate speed and greed has all but put paid to these ideals. Loyalty is no longer a safeguard against redundancy, re-modelling and bottom line. Corporates have had to become more ruthless to stay afloat. Stakeholders don’t care about the personal costs and consequences of the actions required to achieve the goals set.

However, in most cases your people are your most valuable asset. They are the fuel that powers the engine. Yet have we as managers stayed in touch with what it is that rives our people. A simple but relevant example:

A small company has been forced to downscale as well as reduce individual salaries. As we are coming up to the Christmas season the company has started planning its annual Christmas lunch for the staff. The staff would rather be given vouchers which they could spend on their families to help make up for the loss of income that they have experienced. They are too fearful to raise this with management.

This is a small matter which could be easily resolved if the company was in touch with the needs of its people. The playing fields have changed, management needs to understand what the drivers are that motivate staff. People need more reassurance than before, they need new motivators, duvet days don’t put bread on the table.

  • Do you know what’s going on with your staff, how their needs, hopes and aspirations have changed in the last two years?
  • Are you confused why a duvet day or a Christmas lunch hasn’t done anything to improve morale or productivity?

Give us a call, contact us via our website – we can help you understand and improve the relationships with your staff and assist with improving their wellbeing and in turn their productivity for the company.

11 Fears Every Entrepreneur Must Overcome

It wouldn’t be an adventure if it wasn’t scary.

Fear is a fundamental part of human psychology.

Our brains are wired to feel fear because it helps us avoid calamity; it keeps us safe.

  1. Fear of change.
  2. Fear of failure.
  3. Fear that you don’t know enough.
  4. Fear of the unknown.
  5. Fear of committing to business expenses.
  6. Fear of taking risks.
  7. Fear of disappointing others.
  8. Fear of being pushed into uncomfortable situations.
  9. Fear of being wrong.
  10. Fear that you’re not good enough.
  11. Fear of saying no.

Don’t be afraid to ask for help.

Find mentors and resources to help fill in your blind spots.

Seek feedback from others at each step of the way.

But don’t allow fear to cause you to constantly second-guess yourself.

Have confidence in yourself and trust your gut instinct.

Extracted from article by Deep Patel December 10, 2018

Enabling and Empowering Sustainable NGOs.

Announcing ANOTHER strategic partnership – Luigi Morrico & Your Boardroom

Purpose

The Purpose of these workshops are to create an understating and basic knowledge of marketing to allow an NGO to become self-sufficient and self-sustainable.

This level of sustainability will ultimately relieve Governments of some of the pressure from the NDG’s funding.

The idea is to create enough skills so that the NGO itself will be able to share this knowledge within their own communities, identifying possible sponsors or organizations which will mutually benefit from the partnerships.

Broad approach and implementation
Workshops:
Webinar lectures, Face to face, on site, hands-on approach (Covid permitting)
Online interaction:
After each Webinar lecture and workshop we’ll answer Questions, clarifications and explanations to
secure workshop success
Virtual:
Zoom calls Webinars to follow up on sessions, reviews, Q&A on a weekly basis
Contact visits:
10 to 16 Workshop sessions to ensure complete understanding
Number of attendees per session:
Workshops onsite or online (Cameras on) Minimum 10 – 18

If you are interested in this, contact us URGENTLY at info@yourboardroom.co.za or visit our website to arrange a meeting virtually through our boardroom, or to make an enquiry

Leading with Emotional Intelligence Master Class

Leadership success through personal growth!

According to industry experts, emotional intelligence (EQ) describes one’s ability to identify and manage their own emotions, as well as empathize with and manage others’ emotions as well. Put simply, it defines your capacity to understand and express your feelings, as well as comprehend what motivates others and how to successfully collaborate with them. Noting this, and that five generations are now colliding in the workplace, each of which boasts its own distinctive goals and communications styles, it’s more imperative than ever for modern leaders to be empathetic.

In this master class you will learn how to become a successful leader who knows how to motivate and engage effectively with others.

Now is your chance to achieve what most people can’t: Emotional Intelligence, and how to manage your mind.

In this course, you will learn about:

  1. Emotional intelligence and emotional competence skills which will assist in building healthy neural structures and networks within your mind.
  2. How to develop and maintain relationships as an effective leader utilising the Rogerian approach- to building trust.
  3. Effective Conflict management Utilising the Transactional Analysis for dealing with conflict/feedback and leadership
  4. Fundamentally Understand The Link Between Your Thoughts, Feelings, Emotions And Behavior.
  5. Successfully manage your mental and emotional stress On A Psychological And Neurological Basis, Learn How To Have More Control Over Mental Health Problems By Applying The Principles Of Your Brain’s Plasticity And Flexibility And Learn How To Effectively Self-regulate Different Areas In Your Life By Understanding The Conscious Meaning Behind Them.

By the end of this Master Class you will be able on a Completely Different Level Cognitively, Mentally, And Physically, in order to become a SUCCESSFUL LEADER.

CONTACT US AT

info@yourboardroom.co.za for further details on how to overcome stresses and leadership excellence in the transforming world

Active Citizenry and Business – What does it mean??

KABOOM !!!!!

In many of my training and facilitation interventions over the past 20 years and more, I often quote 2 journalist anchors from the old days on SAFM who broadcasted a show called “PM Live”.

Well known spokespersons, journalists, and TV/Radio presenters – Ike Phaahla and Jeremy Maggs who presented this show, usually started the show with the following phrase :

(which has resonated with me for many years and is the very nature of the NEWS cycle, I suppose)

“Since you woke up this morning, the World has changed”

However, in today’s world – especially in 2020/2021 – isn’t that the REALITY????

  • Climate Change
  • Unprecedented Pandemics
  • Technological Innovations and Social Media access
  • International political transformations and uncertainty

And here back in South Africa……………………….

KABOOM !!!!!

A Local Government Political Landscape which has been turned on its head in a matter of a few days!!!!

The “Rockface” of Service Delivery to Communities AND Business survival.

So…..what do we – as business; do about this?

While some business owners and employees are active in their communities, volunteering for and sponsoring local events, assisting schools and fundraising, for example, others tend to let customers find them.

However, being an active citizen in your community can help your business in many ways.

Community citizenship is also beneficial to the community as a whole, so it benefits you as a company, business owner and the very people who may eventually become your customers.

If your business strategy, operations, and key resourcing of your needs; are not from (and active in) the community, here are some reasons to consider Active Citizenry.

  • Businesses that engage in the community may have a better brand image than those that are not.
  • Many customers consider a company’s social and socio-economic reputation when determining whether to patronize the business.
  • By giving back to the community, your business is not only helping customers in a direct way, but it is also building a social reputation and you become part of the nation-building solution.
  • People tend to respect businesses that are willing to pitch in and help the community, and they may be more likely to become customers or refer these companies to others.
  • Being Involved Can Boost Company Morale
  • Community Citizenship Provides Networking Opportunities
  • Your Business Becomes More “Local”
  • It Can Attract the Best Employees

If your company is socially responsible and includes employees in the community service process, it may be able to recruit more talented employees. Making it easy (but not mandatory) for employees to be involved in community service helps them find their own internal motivation for volunteering, and can help make their work experience more positive. This characteristic is a draw for many talented employees.

The benefits of community citizenship are many for individuals and businesses alike. Along with the chance to help members of your community, you also improve your reputation, boost employee morale, and potentially attract new customers.

Visit us at www.yourboardroom.co.za for further details on how we can help you navigate this issue

Talking costs NOTHING – let us begin to build together!!!

Client Retention – Now more important than ever

Here’s an interesting stat – Marketing and selling generally achieves a 5% to 20% hit rate when targeting new clients while selling to an existing customers achieves a 60% to 70% success rate. In addition to this it is more expensive to market to new clients than to existing ones.

Based on these numbers it’s a no brainer that protecting your client base should be at the forefront of daily business activity. How do you retain your clients and grow this business organically?

There are a number of strategies that one can look at:

  1. Be personal – use your data correctly to personalize their experience of your business.
  2. Excellent customer service – it’s simple but it goes a long way. How many people will return to a restaurant where the food is just ok but the service is outstanding? You would be surprised at how many.
  3. Apologise when you get it wrong – there is nothing that will diffuse a situation quicker than an apology when you have made a mistake. Of course you will have to fix it quickly.
  4. Be active in your community – There are a number of ways that you can show your customers that you care about the community which you operate in, they will notice and it will make a difference.
  5. Token gifts and discounts – small thoughtful gifts on their birthdays, a VIP discount structure for high value repeat customers etc are two examples of how to retain clients with this strategy.
  6. Invest in a CRM program – it’s not expensive and you can do a lot with the data which you will acquire.

These are just a few ways to keep your clients happy and engaged. To decide on the correct combination you need to understand the reason for the churn rate of customers in your business.

Once you have figured this out, you can come up with a winning combination. Why not let Your Boardroom help identify the cause of your client churn and formulate an effective strategy to retain your hard-earned clients.

Rethinking the role of the financial manager : A key person to sustainability

More than ever during these uncertain and pandemic time are businesses going to need to look at how to improve their sustainability.

Corporate governance, stakeholder management, transparency and value-based management are part of the answer to ensure business survive future pandemics and challenges.

This requires that going into the future, for there to be sustainable wealth creation, financial managers will need to be measured on how they in a holistic manner, manage both the shareholder and stakeholders’ interests.

Economic wealth or profit will only be sustainably ensured if both shareholder and stakeholder act with common purpose. For this to occur, the financial manger must play their part.

Traditionally two primary roles have been performed by the financial manager:

  1. The first of these is to pursue wealth-creating investment opportunities,
  2. The second is to find funds to finance the investment.

We argue that there is an emerging third role, namely, to manage stakeholders (included here is customers, staff, society at large, suppliers and all who could be impacted) and shareholders (investors) in a manner which ensure greater accountability, transparency, and business sustainability.

The future financial manager cannot merely be burdened with number crunching-they will become the face in many cases of relationship and stakeholder management and the key to ensuring sustainability of not only the business but those who use their products.

Key to managing stakeholders is the financial manager shifting the focus from merely:

  1. Making a profit to the balancing of profits with other economic opportunity forgone or the economic opportunity cost in pursuit of the profit. Sustainability must be the guide and it will become incumbent upon financial managers to take a longer-term perspective when looking for opportunities to invest in or financing decisions. No more quick buck!!!
  2. It is all about Quality over Quantity.
  3. Reporting finances and company performance from what is merely prescribed by legislation to a more transparent, answerable, and accountable manner that empowers both shareholders and stakeholders. The aim must be to strike a balance between economic, social, individual, and collective goals, whilst seeking to align as closely as possible the interests of individuals, the company and society as a whole.

Managing your business during and Post-Covid 19

We are now 2 years into a disruption which was going to last for 3 weeks initially!

Many businesses have been slow to respond to the challenges and have managed to ride out the initial wave. After such an extended economic downturn those who have not adapted or don’t do so soon will not make it for much longer.

What we have seen is that many businesses had managed to thrive in spite of bloated structures and uncontrolled expenses. What is needed now to protect against an uncertain future is the following:

  1. Conduct an intensive audit on your costs: Many companies have managed very well working from home for example. Office rental can account for between 8 and 10% of your expenses. Staff numbers, travel expenses, and other high level expenses need to be assessed.
  2. Reposition the business based on your audit: Look at where you can make short term gains from a cash flow scenario. Your cash flow projections are going to be the make or break of your business. Be conservative in your planning!
  3. Relook your relationships and contracts with your clients: Its more important than ever to have solid, ongoing relationships with your clients. Are there any interim measures you can take to make your products or services more financially attractive to your clients as a means of retention? Remember everyone is feeling the bite right now and if it makes sense it could be a great way to hold onto clients.
  4. Ensure that you have management and stakeholder buy in: You need to have the support of all stakeholders for your turnaround strategy in order for it to succeed. Make sure that everyone buys into it and does their part to ensure that it is successful.

These are just a few of the top-level areas that you should be concentrating on. There are many more.

To effectively plan the way forward you would ideally want the services of a Chief Restructuring Officer. This individual would typically come with a high price tag. At Your Boardroom we have the experience and knowledge to assist you in this difficult, but absolutely necessary exercise during these trying times.

Give us a try.