Millennials already make up a significant percentage of the “new workforce”. They seem to flourish in work environments where the experience includes diversity, transparency, and collaborative work cultures, with flexible working conditions and work that contributes to positive social influence.
Why it is important to be “an employer of choice”
An employer of choice is not only in business for profit, but also to ensure that their people develop the potential, as humans. This is not only done for the good of the business, but to develop individuals who are responsible stewards working towards a common purpose of healing or refreshing fellow humans and the earth (fauna and flora).
If you are in business and you have people working with or for you, you want to attract a mix of employees. Some will have the best industry skills for example, and others will have exceptional leadership capacity. More importantly, you would want, regardless of skills, people with great positive attitudes.
Attracting employees with top-notch skills, outstanding character and great attitudes would require that you design a business with excellent character and culture.
Vision Led and Values Drive Employer Value Propositions (EVP)
The line “vision led, values driven” is well known. To be a successful business you have to have a meaningful and resilient vision to inspire your team, driven by robust and powerful values.
It is crucial to communicate well with employees “why” and “what” they are part of achieving (i.e. vision). Vision needs to be externally focused; describing the desired impact to be made on the world, or how the business aspires to create a better society.
Having a vision to buy into and the values that support it, forms part of the Employer Value Proposition (EVP) – this is what employees are offered in return for their hours of work.
Research shows five elements that employers need to focus on when defining their EVP: Rewards, opportunity, organisation, people, and the work itself.
Creating an Employer of Choice culture
In short, listen, then listen a bit more, and then act accordingly.
Start by serving your clients and your people, clearly understanding their needs, wants and desires. Then build a vision to fulfill the needs and always do business responsibly.
There are various ways to determine the needs of your clients and your employees. We focus on the needs of employees and have designed a culture assessment to understand the internal culture. It also measures some external elements, like customer service from an internal perspective.
We focus on elements relating to how we serve, bring harmony and patience, experience joy, being good and kind, building trust and having self-control. Once you understand how your culture looks, then you can define how you want it to look or what you believe it should be in terms of values.
Create an excellent culture that adds substance to your EVP, to be an Employer of Choice.
Business Leadership – Learn How To Embrace Change
Embrace change! It is the new intelligence!
“Embracing change is the new intelligence”
Initially your IQ was considered in most circles to be a key determining factor of your success as a business leader. Deeper research into the realm of emotional intelligence has revealed its potential as a catalyst to build meaningful and results driven relationships that can change the world.
Yet another highly interesting topic of conversation has been echoing in lecture halls, boardrooms, and the minds of entrepreneurs. Scary to some, very exciting to others, changes within an industry or business environment are always just around the corner. To get to intelligent, pragmatic and very useful answers it must begin with intelligent and practically orientated questions:
“Just how important has your ability to adapt to useful change, forced changes in the market place or industry, as a core leadership skill become??
The author shares the opinion of numerous modern thought leaders that identifying useful change, embracing it, and incorporating it as a part of the company culture has become a core skill. A skill that every entrepreneur and leader must possess or learn that is if they have a strong desire to build a sustainable ,thriving company and leave a lasting legacy. Your ability to embrace useful change is at the very least more important than your IQ and equal to if not more important than your level of emotional intelligence.
A successful change journey starts with a healthy view of useful change and the acceptance of as Robin Sharma says:
“Change is always hard at first, messy in the middle and gorgeous at the end…”
Understanding the real purpose of a change intervention and how it aligns with and serves the vision and goals of your company is the launching pad for a successful change intervention. I must point out at this stage that a wise performance coach once shared that:
‘The success of any transformation is highly dependent upon the internal state of the person or people driving the change journey’.
To clarify and simplify the above it can be applied to our daily lives. Our attempts to lose weight are often stymied by our need for the immediate gratification of tasty food and a full stomach and we fall in love with the warm feeling/s associated with that.
Losing weight poses another challenge to us. It pushes us outside that space of comfort that we love so much. The journey asks more from us. The willingness to sacrifice the known for the unknown is also a requirement that proves to be a bridge too far to cross for most.
If however you fully understood literally all the benefits of a weight loss journey and especially how it aligns with your life’s’ purpose and goals your willpower will be enhanced as well as your general attitude.
Lets’ say as an example that you are an entrepreneur whose purpose is to positively transform the lives of your clients through the use of your product. By losing weight in a healthy way you will not only look better, feel better, you will also have the energy to work harder at your goals of for example selling more products.
You will have more energy and willpower to coach and empower your team. Therefore weight loss and fitness considered within a positive paradigm that is not only aligned with your personal health goals but also with your purpose as an entrepreneur will likely give you the necessary perseverance to succeed that is if you sincerely believe in your purpose and considered all benefits of the change intervention.
I recently facilitated a change intervention at a factory as a consultant. Initially most involved thought they were just going to receive orders to produce and sell more of a certain product. Instead their own purpose was revealed to them and how producing and selling more of the product could enhance their own skill set, performance, and self-development.
More importantly they realised that this change intervention could potentially enhance the income and experience of their customers vastly. According to the feedback received they felt more motivated and empowered than ever, and are achieving way more sales of the product range that they are focussing on than ever before.
When a change intervention is truly embraced by your team because they truly feel and understand the purpose of it and are excited about how it will positively affect their collective future and their internal state mostly positive powerful and lasting results can be achieved.
Another ‘insurance policy’ that goes a long way in ensuring sustainable success in business within a challenging and changing environment is to establish a learning culture within your business. Strongly encourage and create circumstances ideal to practical learning which also embraces the opportunity to learn from failures and apply solution driven thinking.
When your team members pursue learning and positive experimentation they will be more open minded and confident when useful change interventions can be exploited for further self-development and company growth. Embrace change! It is the new intelligence!
6 Timeless Strategies That Drive Successful Entrepreneurship
Adhere to these key principles to build a high-growth company amid changing circumstances.
In today’s ever changing business climate, an entrepreneur can easily become overwhelmed. It’s vital, though, to stay focused on your goals for the company.
Even with a firm strategy in place, every entrepreneur should do these six things to clear a path to success:
1Study the competition
As an entrepreneur, you need to know who your competitors are. You also should understand the rival product or service that is being offering.
This knowledge will help you better market your product or service to stand out, perhaps even using your competition’s weaknesses to your advantage.
2Conserve cash no matter how good business is
Frankly put, live as cheaply as possible.
Entrepreneurs should be as conservative with their money as possible to be able to deal with any rough patch that arises. Conserving several months’ worth of operating expenses in the bank will help you survive most unforeseen circumstances.
3Research new products and services
Understand emerging products or services on the horizon that could improve your company’s operations.
Do your homework.
- Are you taking advantage of all technology has to offer?
- Is there an app that could help you manage your time more efficiently or a service that lets you delegate ordinary tasks to free up more time for priority projects?
4Don’t tackle huge markets at first
Avoid expanding into large markets in the initial stages. Thinking “if we can capture just 1 percent of China” could turn into a mistake. Niche marketing can be extremely cost effective if you keep three things in mind: Meet the market’s unique needs by offering something new and compelling. Speak the market’s language and understand its hot buttons.
Your language should be in synch with that niche even for the minor aspects of a marketing campaign like the company’s slogan.
5Listen to customer feedback and adapt
Salespeople know the adage “always be closing,” referred to by the acronym ABC. Entrepreneurs have an acronym, too: Always be adapting, or ABA.
But entrepreneurs can evolve their business only when they’re listening to customer feedback. It may not mean much if one customer doesn’t like your product but if this is true for many of them and they’re requesting another feature, listen and be ready to adapt.
Whether you’re adapting your marketing plan, simplifying a product or responding to new trends, pay attention to customer feedback. Be all ears.
6Respond to change
In business change is inevitable and those capable of responding are flexible and versatile.
An entrepreneur must be prepared to accept change and adapt business operations accordingly. Be flexible. If a shift in your product or service is warranted, don’t be left behind. Realize from the start that where you are is likely not to be where you’ll end up. A lack of adaptability can result in loss in customers, profits and even business failure.
As an entrepreneur, understand that the world is evolving rapidly. Even a company founded a year ago could change the world today.
Yes, the world customarily commends big players like Bill Gates and Oprah Winfrey. Yet there’s room for everyone in the game. Entrepreneurship in emerging markets could very well be a major factor in the return of a hearty global economy. Why couldn’t you be a part of that change?
This article was originally posted here on Entrepreneur.com.
Yellowwood Future Architects Are Helping Their Clients Understand The New Future
The world is changing. And young, digitally-savvy consumers are becoming an increasingly large and powerful segment. So how should your business adapt to the changing face of the consumer landscape?
- Player: David Blyth
- Position: CEO
- Company: Yellowwood Future Architects
- Established: 1997
- What they do: Yellowwood is a South African marketing strategy consultancy. It helps clients find top line growth for their businesses by offering strategic focus and insight into customers.
- Visit: www.ywood.co.za
Yellowwood Future Architects specialises in helping its clients understand their customers. It is a crucial task, since no organisation can survive long-term if if doesn’t have a deep understanding of the people who buy its products and services.
But even companies that pay great attention to their customers can find themselves struggling to understand the mindset of the modern consumer. Why is that? Well, the consumer landscape is changing drastically, especially in Africa.
“Globally, the youth market is the largest the world has ever seen, and Africa has the majority of these young people. According to the latest census figures, South Africa’s 15 to 34-year-olds total in the region of 19,5 million, or 37,6% of the total population of 51,7 million. By comparison, South Africa’s Generation Xers (the 37 to 56-year-olds) number under 12 million. With direct youth spend in South Africa sitting at a hefty R130 billion per annum, marketers need to sit up and take notice of the youth market. “They are not just ‘the future’ as we are often told — they are ’the now’,” says Yellowwood CEO David Blyth.
This means that no company can afford to ignore the youth market. As Blyth says, they are having a profound effect on the economy already, and this influence will only grow as they age.
So what does this new generation look like? What are their wants and needs? And what do they expect of the brands and companies they interact with?
They want relevant marketing
The days when consumers could be seen as passive receivers of marketing materials are over. Young consumers expect the right information at the right time. They don’t want to be spammed with information that’s not relevant to them, but they do want information to be instantly available when necessary.
They have a lot of disposable income
Young consumers have a surprising amount of disposable income. How so? They live with their parents longer than previous generations did, and they often rent instead of buy.
“We are seeing a shift in how young people spend their money. Many of them aren’t paying a bond or monthly car instalments, which gives them more disposable income,” says Blyth. “Depending on your industry, this can have a profound effect on your business.”
They demand authenticity
“Don’t try to be cool,” says Blyth. “Young consumers want brands to be real — they don’t want to be fed an inauthentic marketing line.” According to Blyth, they want to be approached on equal terms.
They want value
“Brands are important,” says Blyth. “But we are also seeing that young consumers want value. Brand alone isn’t enough. There is simply too much choice out there these days. Combine this with an uncertain economy, and a unique value offering becomes critical.”
They want dialogue
As mentioned earlier, young consumers aren’t willing to be the passive recipients of marketing material. These days, engagement is key.
“Thanks to platforms like Twitter and Instagram, consumers have a loud voice,” says Blyth. “And they aren’t afraid to use it. They will let you know if they’re unhappy, and they will expect you to respond. They want two-way conversation.”
They are socially conscious
“Young consumers are very socially conscious. They care about social issues and the environment. So it goes without saying that they expect companies and brands to care about these things as well,” says Blyth.
They are complicated
Perhaps the defining characteristic of the youth market is its inability (and unwillingness) to be pigeonholed and broadly defined. Young consumers are incredibly complex in their wants, needs and demands.
They can appear self-centred and very focused on instant gratification, but research has also shown that they are incredibly concerned about the future, and very conscious of social and environmental issues.
What this means is that the days of approaching marketing in a linear way are over. The world is becoming more complex, consumers are becoming more demanding, and companies have no choice but to keep up.
Never assume that you know your customer. Customer research should be an ongoing activity. The world is changing quickly, and companies need to keep up. They need to evolve at the same speed as their consumers.
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