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Tag: Business Culture

  • A 5-Step Guide For Weighing In On Hot-Button Issues At Work | Entrepreneur

    A 5-Step Guide For Weighing In On Hot-Button Issues At Work | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For business leaders, weighing in publicly on current issues has become a minefield. In the damned-if-you-do, damned-if-you-don’t-era of social media, both voicing an opinion and staying on the sidelines imply business consequences.

    Mixed signals from consumers and the public muddy the waters further. On the one hand, employees want to hear from their leaders: they’re 14.5 times more likely to work for a company that publicly supports human rights. Yet a recent Gallup poll found that less than half of U.S. adults thought that businesses should take a public stance on current events.

    So, what’s the best course of action for a business leader to take in fraught times? I’ve worked with dozens of CEOs at both startups and huge consumer brands on exactly this communication challenge — and there are few easy answers.

    Before pressing publish on that latest X post or LinkedIn update, consider these five guidelines.

    Related: This Workplace Policy Is Igniting Fiery Debates In The Boardroom — Here’s Why.

    1. Start with why

    Shoot-from-the-hip hot takes and half-baked opinions are an obvious no-no. But what about when you really have something to say — or at least think you should chime in?

    Before weighing in on a hot-button topic, business leaders need to ask themselves, “Why?” from both a corporate and personal standpoint.

    On the corporate side, the fundamental question is: How is making this statement strategic for my company? Does my opinion benefit employees, customers, and/or other stakeholders? A clear yes here is a strong incentive to speak up.

    Nor should the personal level be ignored. If you feel you must say something on a topic because doing so aligns with your beliefs and values, then that might trump more pragmatic considerations. The key is to be honest about whether you’re prepared to face the potential consequences, personal and professional.

    Take the example of Chobani’s CEO, Hamdi Ulukaya. A Turkish immigrant of Kurdish descent, Ulukaya has been an outspoken supporter of immigration reform in the U.S. This has little to do with his yogurt empire and has earned backlash from some sectors. But it’s a stand he’s personally committed to making.

    2. Are you truly being additive?

    The concept of decentering can also provide a helpful benchmark. In short, leaders need to ask themselves if they should weigh in at all, thereby shifting the spotlight away from the issue and onto themselves.

    Do you truly have anything to add to the conversation, or are you just muddying the waters? Do you have unique insights? Or are you just talking to be heard or to be noticed? Or because you feel obligated to say something?

    Listening and learning can often be a more fruitful path than empty statements that add noise without adding value. A simple gut check — Am I truly staying in my lane? — often goes a long way.

    3. Remember internal channels

    Business leaders often overlook the option of internal communications. But you can get the same benefits with fewer drawbacks by sharing your thoughts via your company mailing list, newsletter, or an all-hands meeting with your employees.

    Shows of concern on closed channels scratch the itch to make your voice heard and satisfy employees who believe that the company should take a side or who are wondering why it isn’t. If your customers are wondering where you stand, bring up the situation in an email list that goes out to subscribers.

    The upside of internal communications is that it can avoid the appearance of being theatrical or indulging in virtue-signaling or exploiting a situation.

    Related: CEOs Are Tricking Employees Into Spending More Time In The Office — But Here’s Why They’re Only Fooling Themselves.

    4. Do a consequence audit

    In the military, war games are standard fare. Generals go through the motions of combat in advance, illuminating unforeseen risks.

    Leaders need to take a similar approach before weighing in on hot-button topics. What will the likely pushback be? Are you willing to suffer the consequences if your comments go sidewise? Is it really worth it, or does it make more sense to stay on the sidelines?

    5. When in doubt, wait

    The timeless advice to wait a day or two before sending out a heated letter or email applies doubly to business leaders.

    The news cycle may move at a breakneck pace, but that doesn’t mean you have to. Take the extra time to deliberate with colleagues, advisors and confidantes before sharing a view on a contentious issue. For CEOs accustomed to speed and decisiveness, this pause for reflection can be frustrating. But it’s often time well spent.

    Media attention will, inevitably, move on. An impulsive Tweet, however, may last a lifetime.

    Ultimately, in an era when social media can make all topics seem pressing and all opinions urgently needed, it can also be useful to remember the advice Marcus Aurelius shared 2,000 years ago: “You always own the option of having no opinion — These things are not asking to be judged by you.”

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    Remy Scalza

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  • No One Is Reading Email Anymore and Gen Z Is Thrilled | Entrepreneur

    No One Is Reading Email Anymore and Gen Z Is Thrilled | Entrepreneur

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    This story originally appeared on Business Insider.

    As Gen Zers make up more and more of the workforce, some of their habits have suggested there could be an intergenerational culture clash in the office.

    Gen Zers are already proving themselves to be different from other generations in the workplace. They’re making office language less formal, and prioritizing self-care and happiness over chasing success.

    Many are even reshaping the idea of the traditional “career ladder” by turning their backs on being managers, and say they would rather earn more at their current level or wait longer to go for senior roles.

    Over the past few years, it has become apparent that there is another aspect of office culture that Gen Zers appear to be pushing back against: emails. Instead, they’re opting for more “informal” communication platforms, such as Slack and Microsoft Teams.

    People have been relying on email to send business messages to one another for decades — but it’s fraught with problems.

    According to a survey conducted by Slack and OnePoll in August, workers using email say their questions often go unanswered, they’re addressed by the wrong name, and they’re frequently asked questions by others that have already been directly answered.

    With so much content available online, it appears that people are also getting choosier about what they spend their time reading. Over half of respondents said they won’t bother reading an email if it is eight or more sentences, and many added it’s caused them to miss deadlines and lose out on opportunities.

    In addition to these practical implications, organizations that choose to communicate solely through emails may be leaving a negative impression on employees — 46% of the survey respondents believe that using email means their company is “lagging behind with technology” and half of respondents would like their company to move from email to other forms of communication.

    Some organizations are taking notes, turning towards instant messaging chats instead.

    The popularity of such platforms designed for workers, such as Slack and Microsoft Teams, skyrocketed during the pandemic as working from home left many people searching for a faster, more convenient way to communicate.

    In the absence of face-to-face contact, these platforms have also made it easier for workers to understand each other’s tone by allowing people to send emojis, GIFs, and pictures through messages.

    Some organizations are blurring the boundaries between work and play even further by shunning specially designed workplace messaging platforms like Slack in favor of platforms like Discord, which is popular among the gaming community.

    The death of email is good news for Gen Z

    The move to more informal communication channels is great news for many Gen Zers, 57% of whom said in the survey that the underlying expectation to keep things “formal” at work is a challenge.

    In recent years, many Gen Zers have been rebelling against formal work culture by using snarky email sign-offs with their colleagues, and dressing more casually at the office.

    But it seems that many managers are struggling to come to terms with younger workers’ preferences. Nearly three-quarters of managers and business leaders have said Gen Z is the “most challenging generation” to work with, according to a ResumeBuilder.com survey published in April.

    The reputation may come as a result of Gen Z’s propensity to call out workplace norms that many other workers have let slide. Many young workers are questioning why they have to work five days a week, and why they have to spend time commuting to and from the office every day participating in “soul-sucking” corporate culture.

    Business Insider’s Tim Paradis has even suggested that Gen Z is forcing a workplace reckoning by asking whether the old ways of working still make sense today.

    Getting rid of emails is perhaps yet another small step in Gen Z’s long-term strategy to permanently change office culture.

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    Aimee Pearcy

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  • Want to Boost Your Company's Growth? Upskill Your Workforce. Here's How. | Entrepreneur

    Want to Boost Your Company's Growth? Upskill Your Workforce. Here's How. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For businesses to grow, so must their employees’ skills. That’s why so many organizations seek to create structured learning opportunities for their leaders and team members. A survey from UNICON, a consortium for university-based executive education, found that after shrinking early in the pandemic, the executive education market grew 34% between 2021 and 2022.

    After many years of working on leadership development initiatives at Babson College, Harvard Business School and Worcester Polytechnic Institute, I have experienced the value and impact of corporate training in organizations. It can help companies in crises respond to market threats and push well-established companies to think more creatively. 

    Here are three tips for how your organization can take full advantage of corporate training and executive education.

    Related: Online Training For Employees Is Consistent and Will Save You Cash

    Tip #1: Don’t just teach executives — instead, deploy a cascading approach 

    “Executive” education’s name concedes what most programs focus on: a small group of senior leaders. Because executive education programs have finite faculty and corporate clients have limited time and resources, many engagements end up being overly narrow.

    The value of education doesn’t come only from new concepts participants are taught. It relies heavily on network effects. Benefits really start to kick in when many people know about and can collectively implement the tools they have just learned. Otherwise, it’s like there’s a great show on television that only a few people at an organization watch. The rest of the team may catch snippets of what’s going on, but important plot points and key ideas get lost.

    Corporate training should strive to reach as many people in an organization as possible. That doesn’t mean spending the same amount of time with each group or talking about the same things. Training programs should be customized for a company’s business model as well as the different needs of groups of employees.

    In one recent program with a large company, we started with intense sessions for a senior leadership team of 11 people. After receiving buy-in from top executives, we moved on to a modified program for 70 vice presidents. Then 300 directors. Then thousands of associates. This cascading approach to education ensured everyone in the organization was on the same page and we were maximizing the network effects of learning.

    Don’t restrict executive education to executives. Employees learn best and organizations perform best when everyone shares an understanding of new skills and ways of thinking.

    Related: If You Want to Remain Competitive, You Need to Overhaul Your Workplace Training. Here’s How.

    Tip #2: Offer ongoing resources 

    Conducting a one-off training is like going for a run. It’s a challenge that’s good for you and leaves you feeling energized, even if it first feels like a distraction from the things you really need to get done. But just as the benefits of exercise accrue when you make movement a habit, the positive effects of education amplify when learning is a repeated process.

    Too often, corporate training is treated like a one-time miracle cure rather than an ongoing regimen. Part of the difficulty is limited time. Everyone is busy. It’s hard enough to gather a group of employees for an internal meeting, much less a dedicated professional development event. But we must make time for things that are really important, and training is one of those. Learning is mission-critical, not a fringe to-do item.

    One solution you can embrace is online learning, which enables flexibility and the opportunity to keep employees engaged between bigger, in-person sessions. Concepts from previous sessions can be reinforced, and new lessons can be distributed instantaneously. As part of your training program, consider distributing on-demand resources that can be accessed at any time.

    Tip #3: Emphasize long-term skills

    Every company has a proactive mission that it pursues as markets shift and new technologies emerge. Organizations must lean into change, not shy away from it. There’s a difference, however, between embracing a transformative moment and being swept along by a trend.

    For example, rushing into training on generative AI without a firm sense of what problems you’re trying to solve is like swinging a bat without a piñata in sight. As with any other disruption a company faces, AI remains an important part of the conversation. But ultimately, education on new trends must be paired with flexible frameworks that apply to multiple situations, as well as higher level analysis of a company’s problems and goals.

    As you provide opportunities for employees to learn, make sure you’re not being overly swayed by the flavor of the day. Remember there’s a reason education often focuses on big-picture skills that outlast any one trend.

    Related: 5 Ways to Develop Leaders Within Your Own Ranks

    The importance of professional development

    Professional development can do so much for employees and organizations. It can equip teams with basic skills and strategic frameworks. It can empower workers to solve existing problems and pivot when new ones arise. It can pave the path for a company to stave off stagnation and embrace innovation.

    To secure these wins, corporate training needs to span across the organization. It needs to be consistent. And it needs to combine attention to short-term developments with emphasis on the long-term mission.

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    Stephen Flavin

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  • How to Make High-Priced Products Accessible to Working-Class Families | Entrepreneur

    How to Make High-Priced Products Accessible to Working-Class Families | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    There are times when products are inherently expensive. Homes are a classic example. So are vehicles. In those cases, the constant human needs for shelter and transportation have created natural solutions in the form of mortgages and auto loans.

    But what about companies outside of staple product niches? Here are three examples of how companies with high-priced products designed for larger consumer markets can make them accessible to working-class families.

    Leasing expensive equipment to customers

    Leasing is a classic business model. It involves renting an asset under a contractual agreement at a certain price for a set amount of time.

    When leasing comes up, it’s usually referencing major assets such as a house or car. However, it’s completely possible to lease a wide variety of additional products.

    Related: 5 Major Leasing Deal Points to Know Before Signing a Lease

    One example of this is solar panels. NerdWallet reports that the average solar panel installation can cost as much as $35,000. The renewable source of energy can save money over time, but its barrier to entry is inhibitive and has made solar power inaccessible to lower-income homeowners for over a decade.

    Some companies aim to combat this by leasing solar panel systems to homeowners. The end result is lower energy bills that ideally cover both the leased equipment and reduce the original cost of energy for the home.

    This approach to solar panel installation saves consumers tens of thousands of dollars in up-front fees. This makes it possible for homeowners to tap into the long-term savings of solar power without breaking the bank in the process. The same model is easy to reproduce for any brand that has a solid product and enough capital or investors to front the cash for equipment.

    Related: How to Invest In Real Estate Amid High Interest Rates and Inflation

    Offering interest-free payments

    Interest is a major detracting factor that makes larger purchases unappealing. For example, if an individual purchases a car in New York and takes out a five-year $25,000 auto loan at 5% interest, they’ll end up paying over $2,600 more in interest.

    Broken down over 60 months, this is nearly $45 per month in interest alone. To a working-class family, this is a legitimate cost that they must factor into their financial plans.

    Savvy companies that sell big-ticket items have caught onto the toll that interest payments take on their customers. Some have opted to offer interest-free payments as an alternative.

    Home Depot, for instance, regularly offers its customers coupons for 12-month and even 24-month interest-free financing. The Home Depot credit card also provides a round-the-clock six-month interest-free financing option. That means a customer can hold a balance with the company for that entire period (whether it’s six, 12 or 24 months). As long as they pay off the total before the payment period ends, they won’t pay a penny in interest.

    This model assumes a certain degree of risk on the part of the company. However, when managed well, the interest-free financing model more than makes up for the risks in the amount of larger purchases it encourages from those customers with limited up-front funding.

    Breaking things into smaller bundles and á la carte pricing

    Sometimes, a grouped product selection can push something out of reach of working-class family budgets. When this is the case, splitting a product up into multiple components can help reduce the financial barrier to entry.

    The exorbitant cost of cable television is a good example of this issue. Cable provider Spectrum has found a solution to the problem of its excessively priced full television packages by offering its Spectrum TV Choice bundle.

    This allows users to choose from a variety of channels to fill up a smaller quota of total channels. They can change their selection once a month, making the arrangement sustainable and accessible.

    Not all products come in individual pieces. Whenever that is the case, though, companies should consider innovative ways to repackage the individual components to make them accessible to customers without losing their collective value.

    Related: How Businesses Can Empower Consumers to Make Sustainable Choices

    Making high-priced products accessible to everyday consumers

    The middle class in America is able to make larger purchases. But they cannot do so with the same laissez-faire attitude as those with ample wealth and disposable income.

    Companies that want to market higher-priced products to middle-class consumers must be willing to find unique and innovative ways to help them make a purchase. From leasing and financing options to á la carte and “buffet style” offerings, consider how you can make your brand’s big-ticket items accessible to your target audience.

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    Rashan Dixon

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  • 50 Questions to Ask Your Business Before the New Year | Entrepreneur

    50 Questions to Ask Your Business Before the New Year | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We naturally begin to review things as our focus shifts to the new year (or a new fiscal year in any season). Assessing, lamenting, dreaming, dreading… Maybe it’s a big initiative that someone in your leadership is spearheading, or maybe it’s something entirely your responsibility to steer.

    Regardless, I wanted to create a set of comprehensive prompts, written in plain language, that hopefully stir up some fruitful reflection, as well as a way to summarize and prioritize them into goals at the end. I’ve collected the prompts into categories to keep us focused.

    The goal isn’t to have a thoughtful response to every prompt but to pay attention to which prompts resonate most with you — and why. Every stone you turn over won’t uncover a gem, but one of them will, and that’s all that matters.

    Brand identity

    1. As our brand leaders, what do we value most in the world?

    2. How would the world be different if our brand grew to become a household name?

    3. If our brand were a person, how would we describe its personality?

    4. How would an outsider describe what makes us unique?

    5. Does our brand reflect the needs and aspirations of our target audience?

    Competitive brandscape

    6. Which of our competitors do we want to become more like? (Think of these as a “north star.”)

    7. Which of our competitors do we want to become less like? (We call this a “south star.”)

    8. Has our market position changed over the past year? How so?

    9. What aspects of our company truly differentiate us from our competitors? List everything that comes to mind.

    10. Are there any emerging trends in our industry that we should consider embracing in the year ahead?

    Last year’s brand performance

    11. What achievements are we most proud of in the past year?

    12. Which strategies or initiatives were most successful?

    13. What were some of our most frustrating setbacks or obstacles?

    14. How have our customers’ perceptions of our brand changed?

    15. In the last year, have we received helpful customer feedback?

    Related: Your Most Burning Questions About Personal Branding, Answered

    Customer insights

    16. How would you describe our ideal customer? Get granular.

    17. What does our customer want? And what do they want more than that? (Keep asking that second question until you run out of responses.)

    18. Where do our customers tend to hang out?

    19. How do our customers prefer to interact with us?

    20. What’s the health of our touchpoints with customers? (Think customer service, support, etc.)

    Talk tracks and messaging

    21. Are we speaking our customer’s language?

    22. Are we offering enough consistency and variety in our messaging?

    23. When did we compellingly tell our brand’s story last?

    24. Does content marketing play a role in our communications strategy? Should it?

    25. Are there words or phrases we consistently use that we should rework?

    Digital presence and social media

    26. In the last year, how have we tried to improve our SEO?

    27. Is our website effective in converting visitors?

    28. Which social platforms seem most beneficial for our brand to interact with prospective customers?

    29. Do we have a content calendar or rhythm to posting on socials?

    30. How can we be more consistent on these platforms?

    Product and service evaluation

    31. How would you rate our product/service’s ability to meet customer expectations?

    32. In the last year, what feedback have we received about our offerings?

    33. How can we enhance our product/service quality?

    34. Is there anything we can wrap-around our product/service to delight our customers?

    35. Are there opportunities to flex from predominantly service into a product, or vice versa?

    Internal culture

    36. Does our internal culture reflect the diversity of our customer base?

    37. How aligned is our team around our brand values?

    38. Does our team feel engaged and motivated, or perhaps lacking in certain areas?

    39. What professional development opportunities can we provide in the next year?

    40. How can we actively improve our recruitment and retention?

    Financial health

    41. What is the current financial health of our brand?

    42. Are we charging enough (or too much) for our product/service?

    43. Are there any creative ways to reallocate our budget to improve our operations next year?

    44. Which new revenue streams could we explore?

    45. What are our financial goals for the upcoming year?

    Related: How to Ask Yourself Better Questions in the New Year

    Innovation

    46. What new cultural trends should we prepare for? (Think AI, Web3, etc.)

    47. How can we promote a culture of innovation within our company?

    48. Are there any strategic partnerships that could benefit our brand?

    49. How will we measure success in the coming year? Should we schedule quarterly reviews of these questions?

    And lastly — read through all of your responses to the previous 49 prompts and:

    50. Dream up a list of five goals for the next year. Get specific.

    Take the guardrails off your mind momentarily and allow yourself to dream big. We often overestimate what we can get done in a week but underestimate what can happen in a year. Dream dreams that your future self might thank you for. Be specific. Use measurable language.

    Related: Setting Measurable Goals Is Critical to Your Strategic Plan (and Your Success). Here’s Why.

    After you have your five goals, prioritize them, listing them in order of significance and how impactful they’ll be to your brand’s growth over the next 12 months. Then, cross out the bottom two.

    This will provide focus and keep three primary objectives at the front and center for you. Now that you have your top three, write the first actionable step under each. What’s the smallest — but most apparent — step you can take towards each goal?

    And look at that: You’re already on your way to a brighter year ahead.

    What’s the best that could happen?

    Related: 16 Powerful Quotes to Unlock Change in the New Year

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    John Emery

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  • Creating This Type of Culture Helped Our Company Triple in Size | Entrepreneur

    Creating This Type of Culture Helped Our Company Triple in Size | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When I joined my company in a leadership role nine years ago, I had an outsider’s lens in more ways than one.

    Not only was I new to the organization and the people who ran it, but the industry of in-home healthcare was a big pivot from retail, where I had spent most of my corporate career.

    What struck me the most as I embarked on new terrain, was the genuine kindness I witnessed from our people who were servicing our clients with great compassion. Our business isn’t built on transactions — it’s built on trust. Our clients have to feel confident in our ability to support and care for their loved ones.

    As genuine as our approach was, it was also clear there were areas where our corporate culture needed reshaping. For example, I recall walking into our shared kitchen daily, only to find the sink overflowing with dirty dishes. In meetings, I would hear people blame other team members for performance issues — signs that discipline and self-responsibility weren’t being prioritized.

    At the time, we had roughly 40 franchise locations, primarily in Canada. It was a healthy achievement, but I knew if we wanted to grow and expand internationally, we had to transform our culture and people practices.

    Today, we have more than 300 franchise locations in four countries and have grown our revenue by more than 200%. We’ve also developed a culture where 60% of our people have grown into different roles, allowing them to build new skills and challenge themselves. Here’s how we’ve accelerated the growth of our company and developed our people by creating a culture of bold kindness.

    Related: Why Patience And Kindness Need To Be At The Center Of How You Run Your Business

    Defining a culture of bold kindness

    Bold kindness is more than exercising empathy on a client phone call — it’s about shifting from a culture of “nice” to one of accountability while creating an environment where people feel their personal wellbeing matters.

    Creating a culture of self-discipline and accountability doesn’t require instilling fear or pulling corporate rank — in fact, it’s quite the opposite. We’ve found when you empower your team at every level to play a significant role in decision-making, you can exercise kindness and care for their wellbeing. This inadvertently helps build intrinsic motivation where teammates are driven to take ownership over their own work.

    According to data from McKinsey employees who are intrinsically motivated are 32% more committed to their job, have nearly 50% higher job satisfaction and perform 16% better than other employees.

    Today, everyone in our company works towards the same vision — we call it our “painted picture.” We set bold goals, and each one of us is accountable for helping achieve them, but we also respect that every team member has their own process for getting there.

    This intentional shift towards balancing a culture of self-responsibility with care for our people shows up in every aspect of our teams’ performance. From putting their own dishes away in our now well-maintained shared kitchen to the increase in our Net Promoter Score from the low 50s to the high 70s — bold kindness has motivated our team to achieve exceptional results and to be proud of the work the team has done.

    Related: Compassion Will Boost Your Business: Making The Case For Showing More Kindness At Work

    Knowing the people behind your performance

    We recently had two people within our company become first-time dog owners. We celebrated these milestones similarly to how we would if a team member had a baby. We were flexible in allowing our new dog owners to work from home and allowed them to transition back to in-office hours on a schedule that worked for their unique situation.

    In both circumstances, we wanted the underlying message to be clear: We value you, and what you’re going through matters. Operating from a lens of bold kindness means taking the time to understand your talent as people first. By celebrating and supporting each team member’s journey, both personal and professional, you foster a sense of belonging and care within your workplace.

    New research shows that when employees feel a sense of belonging at work, they are five times more likely to want to stay at their company. On the other hand, employees who feel insecure about their place within an organization are less likely to collaborate, share their creativity or perform to their highest potential.

    In contrast to traditional corporate environments, when our people come to work, they aren’t expected to leave personal matters at the door. If we ask someone how their day is going and they sound off — we stop to check in. We want to know what is really going on with our teammates, whether it’s personal or professional.

    Encouraging people to show up as their whole selves to work isn’t a license to forgo professional duties when a personal matter arises; it’s acknowledging the circumstances they are facing and supporting them through it so that they can do their best despite the distraction.

    Related: How Your Company Culture Can Be a Force Multiplier (For the Good and the Bad)

    Showing up as a human-first leader

    As CEO, I’m not immune to personal challenges. Just as I encourage my people to show up as their authentic selves at work, I’m transparent about my life with my team. As a leader, I’m aware that how I show up at work sets a tone, and it’s my responsibility to shape an environment where everyone can thrive.

    When I walk in on a Monday, I take time to greet everyone and listen with genuine interest as I hear about their weekends. These personal connections have been essential to our team’s success.

    A global study by the International Social Survey Program, published by the Harvard Business Review, showed workplace relationships have a significant impact on job satisfaction. Not only that, but researchers at the Universities of Pennsylvania and Minnesota have confirmed close relationships at work increase productivity and result in higher levels of commitment, better communication and morale.

    I’ve worked in traditional business environments where orders are expected to be followed without question and where parts of my identity weren’t welcomed. I’ve experienced firsthand how that kind of culture kills morale and innovation, and it always comes from the top.

    Bold kindness isn’t taught in traditional business schools yet, but for us, it’s been a game changer. Not only has the shift in our culture helped us triple our company’s size and expand internationally, but it’s also created a work environment where I and everyone around me feels supported and inspired.

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    Cathy Thorpe

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  • How to Build a Socially Responsible Employer Brand | Entrepreneur

    How to Build a Socially Responsible Employer Brand | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The world has changed. People have changed. Why shouldn’t businesses change, too?

    Fact is, they should, and they should do it wholeheartedly — and soon. Employees and consumers alike expect more. And they’re making their employment and purchasing decisions based on the values that organizations demonstrate rather than just espouse.

    Gen Z is leading the pack when it comes to putting corporations’ feet to the fire. Deloitte research indicates that Gen Z is motivated by purpose and a brand’s good global citizenship reputation. This only makes sense. Growing up in an era of rapid information dissemination, Gen Z was hyper-aware of global issues like climate change, social inequality and human rights abuses.

    Of course, we shouldn’t assume that only Gen Z workers care about social responsibility. People of all ages and from all generations have become skeptical about companies’ corporate social responsibility efforts. They want to make sure that their employer (or future employer) isn’t just “checking the box” but is following through on promises. For instance, more than 5,000 organizations have earned Certified B Corps designations. In the future, that designation may be not just expected but standard.

    Related: Why Should Your Business Care About Social Responsibility?

    But what exactly does it mean for a business to walk the walk, not just talk the talk? For some, it means investing $100 million in the brand’s Racial Equity and Justice initiative, which is focused on addressing systemic racism through educational support. For others, it means sending 7.5% of pre-tax profits back into community organizations throughout the nation, as well as championing human rights, social and economic justice, and environmental protection. For many, it means working toward 100% carbon neutrality.

    However, for every positive corporate example, the opposite exists as well. More than one brand has found trouble in the last few years due to greenwashing ventures. Or maybe it’s a viral PR disaster like a failed commercial that made light of ongoing and serious national tensions. Audiences today will hold brands accountable for missteps as much as celebrate their success.

    The point is that your company can’t hide behind slogans or statements. To appeal to modern workers and customers, you have to showcase your commitment to social responsibility. If you don’t, you can be sure that your competitors will be the first to call you on the carpet.

    To get started, try these methods to initiate the process of folding social change into all the fibers of your corporation’s brand and culture fabric.

    1. Engage your stakeholders, not just your shareholders

    There’s no doubt that you have to be conscientious about your shareholders when you’re a business leader. Shareholder value has been the primary focus for companies for decades. However, sometimes corporate social responsibility conflicts with a focus on profits. Why? The simple answer is that corporate social responsibility often requires a sizable financial investment. Not always, mind you — consumers are starting to pay more for products and services backed by socially responsible companies. Nevertheless, your job is to look beyond just your shareholders and engage your stakeholders.

    When I refer to stakeholders, I refer to everyone with a stake in your organization, including team members. Remember: They have a choice as to where they’re going to work. Nearly seven out of 10 professionals planned to resign in 2023. You can’t afford that kind of attrition, so you need to collaborate with your employees to build a collective vision and commitment around social change. Be aware that your team members will have different visions and different appetites for what social change means. That’s a good thing because it elicits deeper conversations and helps you get closer toward your goals.

    Related: 10 Ways to Make Your Business More Socially Conscious

    2. Listen to what matters to people

    Instead of automatically arguing or debating social points, put yourself into a “listen and learn” mode. Find out what’s really important to others. Ask questions. Why do they feel the way they do? What’s important to them? What kind of stand would they like to see you take as their employer or preferred brand? You don’t have to do everything they want, but you’ll be in a better position to make decisions if you “get” them.

    After educating yourself through active, open-minded listening, you’ll be prepared to problem-solve and lead your company and team forward. By leading the charge, you can show your authentic desire to make a positive impact based on the needs and wants of your stakeholders. In other words, you’ll have a rare opportunity to demonstrate proactive leadership, innovation and creativity to the biggest societal challenges we face today.

    3. Lean into major headlines and movements

    When the “don’t say gay” headlines hit the front page of every major media outlet, did you consider saying anything about it as a company? Or did you shy away from the topic? Right now, employees and buyers want to know that their favorite brands care about what’s happening. You don’t have to rush into making a statement, of course. You just shouldn’t avoid creating a space for respectful dialogue and discussion about the subjects of the day.

    Can these types of conversations be awkward? Absolutely, which is why I recommend turning to resources and guides to help you navigate these conversations. By enabling everyone to speak their piece, you show that you value transparency within your workplace. And transparency begets trust, credibility, and accountability — all essential for building tighter teams where people feel psychologically safe and can bring their best selves to work.

    Initiating social change requires dedication, consistency and a genuine commitment to making a positive impact. Although it takes energy and investment, it’s worth every minute and penny to transform your company into one that’s seen as unfailingly socially responsible.

    Related: Corporate Social Responsibility Is More Than Just Charity — Here’s Why It’s Good for Business.

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    Gloria St. Martin-Lowry

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  • Want Employees Back in the Office? What Leaders Are (Still!) Getting Wrong About This Ask | Entrepreneur

    Want Employees Back in the Office? What Leaders Are (Still!) Getting Wrong About This Ask | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For all the reports of loneliness and isolation experienced during the pandemic, it’s no secret that a significant portion of the workforce became habituated to working from home. Many found the increased time autonomy, the lack of commute and the flexibility refreshing, if not freeing.

    Well, the party’s over.

    Last year, people began returning to the office en masse. According to Build Remote, in 2022 approximately 34% — twice that of the previous year — of all Fortune 100 companies requested their employees return to the office. For those still working at home, the news gets worse; Resume Builder reports that 90% of companies plan to be back at the office by the end of 2024.

    This presents its own set of problems. For business leaders, one of these is the question of how to ask employees to come back. But armed with the knowledge of what others have done right (or drastically wrong), it would behoove them to think about how they approach communications on this.

    As a business leader who supports other business leaders with how they communicate with stakeholders, I’ve seen firsthand how taking a compassionate approach to communicating policy changes can further the employer-employee bond, energize a workforce and take the edge off challenging conversations. Yes, including the RTO ask.

    Here are some tips to get it right.

    Related: 3 Mistakes You May Not Realize You’re Making When Bringing Employees Back to the Office

    Dig deep

    It sounds simple, but before asking their employees to return to the office, leaders should ask themselves: Why do I really want this?

    Is it because returning to a work environment is what everyone else is doing? Or because it seems like the correct course to take? Or is it even due to control issues? If your motivations are rooted in a scarcity rather than an abundance mindset or impulsive feelings, it’s worth taking a second look and ensuring they aren’t informing strategy that could do more damage in the long term.

    One of many dangers of not thinking through your own motivations is coming across as unclear and out of touch. In a virtual town hall recorded in April, Clearlink CEO James Clarke awkwardly praised an employee for selling the family dog after hearing about the company’s RTO policy and questioned whether single mothers or primary caregivers could really work full-time jobs.

    This was a textbook example of somebody who was making an ask from a lens of control and operational scarcity, who was not clear on the data, and who was throwing out confusing and alienating concepts to justify the return to work. Not only was this ineffective, but his communication blunder led to widespread negative coverage for his organization and his leadership.

    Look to the data

    While personal reflection is a good starting point, one of the benefits of no longer being in the immediate post-pandemic period is that leaders now have access to some telling numbers around barriers and motivations for returning to a physical workplace.

    According to a 2022 Microsoft Work Trend Index, the main attraction of coming back is the social aspect: 85% of employees say they would be motivated to go into the office to rebuild team bonds, while 84% indicated they would return to work for the chance to socialize with coworkers.

    This is gold for business leaders. CEOs and company heads who emphasize human connection and collaboration in the workplace are more likely to receive buy-in. No matter how comfortable and convenient your employees’ home offices might be, they may still miss the water-cooler chitchat about the latest hit streaming show and the sense of mission that comes from being around like-minded people. Simply put: Framing an office come-back of any duration as an aspirational opportunity for collaboration and connectedness vs. a punitive measure rooted in control is a great place to start.

    Related: We Know Return to Office Mandates Backfire — So Why Are Tech Giants Like Amazon, IBM and Zoom Reinstating This Outdated Policy?

    Use humility and empathy as a North Star

    Words like empathy and humility get thrown around a lot, but they do matter here. If you want people to show up for you, show up for them.

    Put yourself in your employees’ shoes. What kind of challenges do they face? Arm yourself with the information before you make that choice and that call. If you have a people team or access to HR data, leverage those things to get more insight into what is keeping employees at home and what would incentivize them to come back. Figure out their barriers to entry. Do they need childcare options? A less costly commute?

    Also keep in mind that the blending of home and work life during the pandemic fundamentally may have changed things for people, particularly for caregivers. Acknowledging and accounting for the added stress that a return to the office may bring reassures them that the reality of their experience isn’t being erased by the renewed physical barrier between home and work.

    Commit to being present, too

    Finally, business leaders have to walk the walk as well as talk the talk. I’ve heard many stories of CEOs asking employees to come back, while rarely coming in themselves. Not a good look.

    Obviously, as a leader with travel and business obligations, you’re not going to be able to be in the office 24/7 — and you wouldn’t have been before this situation, either. But it is important that, especially in those early days of asking people to come back in, you are intentional about being present, making your face known (and seen) and demonstrating that enthusiasm that you’re asking others to bring.

    Related: 3 Simple Ways to Motivate a Remote Workforce

    That means everything from welcoming people back personally to showing your face around the office to, when possible, attending town halls and meetings in person. And it means continuing to ensure that whatever policy you have instituted is still working. Keeping those lines of communication open and responding to changes as they come up are ways that leaders can continue to show that this is a journey for them, too.

    Growing pains — or in this case, returning pains — are inevitable after a paradigm-shifting event like the pandemic. But by being clear and intentional in your communications, embracing empathy and leveraging data, your RTO ask might actually energize and inspire your workers.

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    Caroline Carter-Smith

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  • Hooters CEO on Revitalizing a Brand | Entrepreneur

    Hooters CEO on Revitalizing a Brand | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Quality leadership is like a bag of golf clubs, says Hooters of America CEO Sal Melilli.

    A golf bag full of top-notch clubs — from putter to driver — gives a golfer the essential tools they need for a great 18-hole round.

    Being a good leader also means having a lot of available tools, people, and ideas around you at all times to make it easier to navigate the countless situations that occur every day as an executive.

    “You got different clubs in the bag,” explains Sal Melilli to Shawn Walchef of Cali BBQ Media. “Here are some of the tools that we can look at or things you could possibly consider to help get you through the point where you are today.”

    The “clubs” you can wield might come in different types of inspiration — mentors, media, memory — just like in golf there are woods, irons, wedges, and more.

    Sal never thought he’d get into social media, but eventually he gave in to that new form of communication, and discovered certain key people who have influenced him.

    “I also keep different notes around my desk for inspiration,” Sal Melilli added about the ways he finds inspiration as the chief executive of a legendary restaurant company. “It comes in different places.”

    The Hooters Story

    Hooters was founded in 1983 on April 1. Yes, that is April Fool’s Day, but this was no joke.

    As legend goes, the brand was born in Florida when “six businessmen with no restaurant experience whatsoever got together to open a place they couldn’t get kicked out of.”

    They call it the happiest accident in restaurant history.

    Humble origins led to monumental growth. Four decades have passed, but the mentality remains the same as it was in the ’80s.

    The Hooters brand was created from day 1 to be about fun — to “rescue people from the ordinary.”

    Eventually Hooters with its comfort food and comfortable surroundings — and the fashionable and cheery Hooters Girls — became cultural icons. The brand continues to grow in new ways, including globally.

    These days, Hooters franchises and operates more than “420 restaurants” in almost every state in the US, and 29 countries.

    Hooters grossed $860 million in 2022, according to Technomic’s Top 500 Chain Restaurant Report published by Restaurant Business Online.

    Hooters of America (HOA) Brands also operates Hoots Wings, an emerging QSR franchise with lots of different styles to offer chicken wing fans.

    Sal Melillis said Hooters has learned to diversify within its strengths. The International Miss Hooters Pageant was a big success for the brand and has even inspired similar live events at a local franchise level.

    Related: The Over-the-Top Strategy That Is Creating Lifelong Customers for This Restaurant Group

    You’ll also be able to buy Hooters products in the grocery store. “We’re on the cusp of some pretty exciting opportunities that we’re building in the licensing part around this brand,” he said.

    Though live events and retail products are becoming a way to continue developing the brand around the globe, it’s the dining room Hooters experience that is the core of the company. Because of this Hooter is investing in sports betting.

    With more than half of all states in the US allowing legal sports gambling, there is lots of revenue to be earned from tapping into the customers’ desire to bet on sports while eating wings and drinking beer in a fun environment.

    Hooters has launched live betting at dozens of restaurants in multiple states and has also partnered with brands like DraftKings.

    With new opportunities to bring the company into the future, Sal said the core of the Hooters has always been the people who work there.

    40 Years of Hooters

    Sal Melilli’s ascent at Hooters took him from sink to c-suite. Starting as a dishwasher and intern, he found himself mastering job after job within the organization until landing at the top.

    The chief executive’s astronomical rise is not an uncommon occurrence at Hooters.

    The company publicly prides itself on providing workers with the skills and training to succeed and move up. Or employees can move on to other career paths but still retain with them what they learned.

    During its 40th anniversary year in 2023, Hooters leaned into spotlighting the essence of their brand — the Hooter Girl.

    Especially important to the Hooters I AM initiative (standing for “Image, Attitude, Memorable”) is how the more than 500,000 Hooters Girl alumni are not merely defined by their iconic Orange Shorts, but by their many achievements in life after donning that classic outfit.

    “You know, the Hooters Girl has been, is now, and will be the absolute essence of the business,” the CEO said. “40% of our management staff is female. So some of them move on to great careers with us. They move through the management ranks.

    “We’ve really tried to put a focus on celebrating the empowerment of women.”

    Former Hooters Girl Cheryl Whiting-Kish, who is now Hooters Chief People Officer, said the 40th anniversary was a chance to honor those who personify the most important part of the brand.

    “I think it’s time to honor who she is as an individual,” she said in FSR Magazine. “I also hope to give the women of the brand again a spotlight to say, ‘Hey, I’m a leader of myself. I’m choosing to work for this brand. I choose to wear these orange shorts. I choose to leverage my time here whether it’s to make money while I go to school or to learn communication skills,’ or whatever it is.”

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    Shawn P. Walchef

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  • An Expert Explains Why You Need a Personal Board of Advisors | Entrepreneur

    An Expert Explains Why You Need a Personal Board of Advisors | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    By the early 2000s, working for a single company for your entire career was rare. The new normal was fluid. Employees became more likely to move between organizations, or even switch industries entirely. Job mobility offers flexibility, but it also leaves many of us feeling overwhelmed and looking for guidance.

    How can we best draw on others’ support as we forge our own careers? I’m a professor of management at Babson College who has spent decades studying how mentors boost individual development and organizational success. After teaching thousands of students and executives, there’s one piece of advice I give everyone:

    You need to build a personal board of advisors to help guide your career.

    A personal board of advisors is a small part of your overall network: It’s a group of people invested in your success who you can turn to for advice and support. Here are five of the most important things to know about building your board of mentors.

    Related: What You Need to Know About Building a Small Business Advisory Board (and Why You Need One)

    Quality is more important than quantity

    A personal board of advisors falls between the solo guru you turn to for every question, and your 500-plus LinkedIn connections. It’s a smaller network of people who care and provide support for you throughout your career, including peers and role models. This network changes over time to reflect what you need at different career stages, as you will rely on them for everything from providing practical advice to advocating on your behalf.

    An extensive contact list does not translate to a better network. Prioritize high-quality connections over high-quantity networks. Try making a list of how many people you actually discuss your career with. You’ll notice it’s smaller than you may have thought.

    Here are the three characteristics to look for in a high-quality relationship:

    1. Positive intent — You and your mentor are both entering with good intentions and assume the best of each other.
    2. Mutuality — You’re both present and engaged when you’re speaking. You have a genuine connection and aren’t just trying to get something out of each other.
    3. Vitality — You leave the conversation feeling energized rather than drained.

    Don’t put all your eggs in one basket

    Everyone benefits from mentoring relationships. My research shows that mentees are happier, more satisfied in their careers, get promoted faster and learn new skills. Mentors get many of the same benefits, plus loyalty among their team and a reputation for supporting others.

    However, a common mistake people make when seeking mentorship (and that companies make when setting up mentorship programs) is relying on one person. More than 92% of Fortune 500 companies have mentoring programs in place. But many of these are 1:1 models, where an employee is matched with a single mentor. That’s a lot of pressure on a single relationship and whether you hit it off.

    More importantly, you need multiple perspectives on your personal board of advisors. Sometimes, you need support from within your organization. Other times, you need an external eye. Sometimes, you want a person who shares your existing interests. Other times, you want someone who shares new interests you’re looking to explore.

    Related: 8 Steps to Creating an Effective Advisory Board

    People are more willing to help than you think

    Reaching out can feel daunting. Everyone’s busy, and it can feel like you’re asking a lot. But research on reciprocity shows that when someone asks for help, our immediate instinct is to offer it. People are flattered to be asked for their advice and mentorship. That doesn’t mean you’ll always get a “yes,” but it should make you feel more confident asking.

    When you reach out or first meet a mentor, think through how you present your story. This is an introduction, not a sales pitch for why this person should mentor. Be honest; if you’re editing your story to strengthen a relationship with a mentor, it might be a sign to seek someone else.

    Take advantage of the moment when you’re new at an organization to reach out to people. There’s never an expiration date on seeking mentorship. But the first few months of a new job offer a natural alignment: It’s when you most need support and when other people are most inclined to give it.

    Your peers are some of your best mentors

    The most underrecognized and underutilized mentors are your peers. As you progress through the ranks into more senior positions, the pool of available mentors above you shrinks. By the time you get to CEOs, who don’t have a boss, peers are the main option to receive mentorship.

    Adding peers to your personal board of advisors is helpful at every career stage. A lot of peer mentorship is informal and spontaneous. Structure, however, can also be helpful. Set up a recurring time to meet, whether it’s once a week or once a year. And, as with other mentors, it’s best to have a diverse group of people with different perspectives.

    Peer mentoring allows us to grow through the advice we receive as mentees, but also as the mentor who’s offering said advice.

    Related: Randi Zuckerberg: Don’t Search for That ‘Pie-in-the-Sky Mentor’

    It’s on you to develop your personal board of advisors

    With the shift toward greater job mobility, companies stopped taking responsibility for cultivating employees’ entire career trajectories. The formal mentoring programs large companies have in place are aimed at developing employees in their role within the organization, not looking out for your career as a whole. You now need to be intentional about building your own career networks. No one will do it for you.

    Many executives I work with feel lonely in their professional journey. Oftentimes, the only person they’ll discuss their career with is their spouse or partner. They come to understand that they haven’t paid enough attention to their own growth and development.

    Even as an expert who teaches about building networks, I sometimes forget to focus on my own. But I remind myself that creating and maintaining quality relationships with multiple mentors is good for me, good for my advisors and good for my employer.

    It’s a win-win-win worth investing in.

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    Wendy Murphy

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  • What It Takes to Build a Best-In-Class Company | Entrepreneur

    What It Takes to Build a Best-In-Class Company | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    More than 5 million businesses were created in the U.S. in 2022. What makes the true industry giants stand out in a world of fierce competition? What separates an average company from a top-tier organization that’s successful and pivotal in shaping the future?

    Drawing upon 20-plus years as an entrepreneur, during which I’ve witnessed numerous businesses rise and fall, I’ve gathered insights into critical factors that differentiate outstanding enterprises from the rest.

    Let’s dig into the essential elements that elevate a company to best-in-class status, exploring how ethical conduct, innovation and social responsibility are admirable goals and vital drivers of success.

    Related: How to Take Advantage of Your Underdog Status and Conquer Industry Giants

    Ethical practices: A foundation of excellence

    When we talk about ethical conduct in business, we’re not just checking boxes to comply with laws and regulations. We are establishing a compass that guides our companies’ actions, shapes culture and dictates how we interact with stakeholders. In a time when trust can shatter like glass and reputation is everything, integrity is the foundation upon which best-in-class businesses are built.

    In my enterprises, I’ve learned that cultivating a culture that values doing the right thing, even when it’s tough, is critical. This means creating an environment where your team feels empowered to make ethical decisions, with you leading by example. Weaving ethics into your company’s DNA increases credibility, fosters trust and boosts profitability.

    And here’s the magic: When customers and clients trust your company, they become loyal advocates, bolstering your reputation and driving sustainable growth through word-of-mouth referrals. Ethical practices also attract socially conscious investors, further boosting your company’s financial health.

    To establish and strengthen ethical practices:

    • Create ethics and values statements as a team and share them internally and externally.
    • Incorporate your ethics and values into your brand messaging, recruiting, and training materials.
    • Embody these in your conduct as a leader and organization.

    Related: More Than Just A Moral Compass: The Power Of Ethical Business Practices

    Pioneering business practices

    Innovation isn’t confined to new technology and cutting-edge software. Best-in-class companies view innovation as a continuous pursuit of creative solutions to problems, whether in your products, services, how you treat team members or the processes that drive your business.

    Innovation isn’t just a buzzword; it’s a significant driver of profitability. A recent McKinsey & Company study found that companies embracing innovation enjoy a substantial performance edge, outperforming their peers by a staggering 2.4 times in economic profit.

    Nurturing innovation doesn’t only mean hosting grand brainstorming sessions; it involves having a company culture where every team member feels empowered to contribute ideas regardless of their title.

    It centers on embracing diverse voices and perspectives, encouraging experimentation, and seeing failure as a stepping stone to success. Best-in-class companies are pioneers who establish themselves as thought leaders in their industry and push the boundaries of what’s possible.

    I learned these principles early in my business career through observing successful companies and leaders. After a few years of ideation and experimentation, I found what worked for my leadership style and industry. Today, I’m still trying new things and paying close attention to results and the feedback of my teams, clients and other stakeholders.

    Which approaches to innovation will work for you? You’ll only discover by jumping in fearlessly and getting creative.

    To leverage innovation in your business:

    • Look for opportunities to improve efficiency, productivity, and results.
    • Include your leadership and frontline teams in planning from the start.
    • Talk to clients, investors and other stakeholders to gather unique perspectives and discover new ideas.
    • Due your due diligence: Study a variety of strategies and solutions.
    • Take risks (measured) — don’t be afraid to disrupt the status quo.

    Related: How To Use Entrepreneurial Creativity For Innovation

    Leading the charge for positive change

    To be a best-in-class company, you can’t shy away from taking on significant challenges.

    This means fully embracing environmental, social, and governance (ESG) principles and addressing critical concerns such as sustainability, reducing your carbon footprint, promoting employee wellbeing and engaging with the community.

    It has become evident that stakeholders want, need and deserve a business approach that aligns with their values and addresses pressing global concerns.

    A recent study revealed global investors are increasingly focused on ESG issues in their investment strategies. Roughly 89% of investors considered ESG issues in some form as part of their investment approach in 2022, up from 84% in 2021.

    Equally vital is the commitment to diversity, equity and inclusion (DEI). Companies that prioritize diversity and inclusion not only contribute to a more equitable society but also reap the rewards of being able to tap into a variety of perspectives and ideas.

    When you demonstrate an unwavering commitment to positive change, you enhance employee engagement and elevate your brand’s reputation, resonating with socially conscious consumers and investors.

    To become a more conscientious organization:

    • Listen to your stakeholders and the public to learn what’s most important to them.
    • Research more into what comprises ESG and DEI initiatives.
    • Hire professionals or retain consultants with relevant expertise.
    • As with ethics, share these values across your organization and let them guide your actions.

    Related: Why ESG-Conscious Companies are Resilient Companies

    Standing the test of time

    Success goes beyond the bottom line; it hinges on a relentless pursuit of excellence. Best-in-class companies understand this truth.

    They thrive by integrating ethics into their DNA, prioritizing innovation, and leading positive change by adopting ESG and DEI initiatives.

    Through these pillars, they enhance profitability, but more importantly, create a lasting positive impact that solidifies their best-in-class status, setting a high standard for all who follow.

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    Robert Finlay

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  • Great Leaders Must Be Great Coaches — Here's How to Become One | Entrepreneur

    Great Leaders Must Be Great Coaches — Here's How to Become One | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    What makes a great leader? Our traditional visions of leadership often center around a lone hero taking charge and charting a bold path for others to follow. But in my years of research on leadership development and my experience training hundreds of executives at top companies, I’ve found that successful leaders are much more relational and cooperative than this outdated view imagines.

    An entrepreneurial leader coaches her team to unleash their full potential. She helps team members develop a vision for their ideal versions of themselves and fuels their intrinsic motivation to bring these ideal selves to life. Your job as a leader is not to blaze a path alone. It is to inspire your team to move forward together.

    Related: 3 Effective Ways to Lead as a Coach Rather Than a Boss

    How to inspire growth

    To be a successful leader, you must become an expert in how to help others grow and develop. Unfortunately, many of the existing models for professional and personal development focus on setting goals, tracking progress and measuring outcomes — and inevitably lead to feelings of failure and disappointment when we fall short. These punitive, results-driven models don’t offer the inspiration and support people need to fuel lasting change.

    There is a better way to coach your team. The research-driven approach I teach at Babson College’s Arthur M. Blank School for Entrepreneurial Leadership is based on two existing behavioral change models that are built around internal psychological development and self-realization, instead of externally imposed metrics.

    Intentional change theory (ICT), developed by Richard Boyatzsis, posits that people change themselves in a sustained way by making five self-discoveries, which I will explain in detail below. These self-discoveries lead to a vision of our ideal selves, which serve as our North Star as we grow and develop, and a process for aligning our current selves with our ideals.

    Edward L. Desi and Richard Ryan’s self-determination theory (SDT) argues that the chances for sustained change are highest when people are driven by intrinsic motivation — their self-developed, internal motivations for change — as opposed to external motivators such as pay and praise. We are most likely to achieve this intrinsic motivation when three basic needs are satisfied: autonomy (a sense of being self-directed), relatedness (a sense of connection with and care for and from others) and competence (a sense of self-confidence in our words and actions).

    To be a great coach and effectively develop your team, you must meet these three SDT needs that are the springboard for intrinsic motivation, and then use that motivation to help your team members achieve sustained change by guiding them through the ICT discovery process. I’ll explain the discovery process step by step to demonstrate exactly how it works, and you can read more in my paper on this topic for Leadership Quarterly.

    Related: How Real Leaders Coach Their Employees For Success

    The process of intentional change

    First, successful coaches encourage people to find their ideal selves — the initial discovery. The ideal self is someone’s aspirational view of who they want to become or what they want to do, instead of what they feel obligated or expected to be. The ideal self serves as a guiding light giving life to someone’s aspirations and actions. 

    You can help team members identify their ideal selves by asking targeted questions to develop a vision statement for who they ultimately want to be. A vision statement isn’t a traditional goal, but instead an inspiring description of someone’s biggest aspirations. The questions should also positively impact a person’s feelings of autonomy, relatedness and competence (the three core SDT needs). This will build trust in the coaching relationship, allowing team members to tap into the creative and vulnerable space needed to identify their ideal selves. As your team’s needs are met through discovering their ideal selves, their intrinsic motivation will rise.

    You should take a similar approach to the second discovery process: helping team members identify their real selves. The real self is someone’s current self as expressed through their values, strengths and weaknesses, personality and more. As in the first phase, you can employ questions and assessments that fulfill each of the three SDT needs as your team members work to pinpoint their real selves. Commonly used assessment tools such as Firo-B, Strength Finders, MBTI and DISC help people identify the strengths and capabilities they can leverage to move closer to their ideal selves.

    After your team members have identified their ideal and real selves, you can guide them to develop a learning agenda. This agenda outlines concrete action steps by which someone can close the gap between their real and ideal self by harnessing the strengths identified in the prior phase. A learning agenda should be inspiring and aspirational while offering feasible and concrete steps to align the real and ideal selves, a balance that helps maximize motivation and persistence.

    Your team members can then move to the fourth discovery step, experimentation and practice, where they try out a “provisional self” by practicing the actions from their learning agenda that will move them closer to their ideal selves. Keep an eye on your team members’ connections to their ideal self during this experimentation. If they seem unmotivated or start to lose direction, you should help them reconnect with their ideal self, potentially by returning to the first phase in the process if necessary.

    The final discovery — trusting relationships — is not a phase of its own, but a quality that should happen at each stage in the process. True, lasting change is most likely if there is a trusting, supportive relationship between an individual and their coach. It is your role to help foster this relationship with your team members throughout the discovery process and beyond, which will both increase their likelihood of success and serve as a boon to their motivation and overall wellness.

    Related: 10 Rules for Coaching Your Team to Greatness

    Effective entrepreneurial leaders coach their team members to become the most aspirational versions of themselves. This approach creates psychological safety and satisfies people’s needs in a way that allows them to maximize risk-tracking, creativity and innovation. They will be ready to confront a world with increasingly complex and unexpected challenges that require dynamic solutions.

    Becoming a better coach — and making sure other leaders in your organization are effective coaches — is one of the best ways to supercharge your organization’s success and your team’s fulfillment.

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    Scott Taylor

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  • How to Flip Your Bad Personality Traits | Entrepreneur

    How to Flip Your Bad Personality Traits | Entrepreneur

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    All of us, at some point in our lives, have believed some aspect of our personalities could be improved upon. Maybe you got the message that you were too loud, or brash, or talkative. Maybe you were told you were overly reserved, or sensitive, or dreamy. Maybe your ideas are too impractical, or too regimented. Maybe you’re too loose with money, or too tight-fisted. Whatever the critique was, it probably made you feel crappy and self-conscious. But that’s okay, because a little self-reflection is good for everyone, and it’s important to be mindful how you’re coming across to others. And it also doesn’t mean you should try to eradicate that part of yourself. In fact, if it’s getting other people’s attention, it’s probably core to who you are. Here, we spoke with six entrepreneurs who made the mindset shift from feeling ashamed of their “bad” personality traits, to unlocking their potential.

    Image Credit: Pete Ryan

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    Frances Dodds

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  • 5 Bad Habits Of High-Achieving Entrepreneurs | Entrepreneur

    5 Bad Habits Of High-Achieving Entrepreneurs | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    You might be surprised at the high percentage of high-achieving entrepreneurs, whose unique combination of traits or habits that accelerate their success early on, later find these same traits eventually become what hold them back.

    They’re often the source of chronic stress, overwhelm, burnout and plateaued revenues.

    So, while this combination of seemingly beneficial traits generally means you’re intelligent, driven, ambitious, hard-working, have a high work ethic and a high tolerance for stress, it may also mean you’re:

    • Often feeling overworked and undervalued

    • Constantly under pressure to deliver in tight deadlines

    • Regularly on the edge of burnout

    • Constantly stressed and overwhelmed

    • Surrounded by people who disappoint you and don’t meet your expectations

    • Apprehensive about more responsibility because you’re barely coping as is

    So, while go-go-go may get you ahead in the beginning, there are dangerous consequences if you don’t get your habits in check early on. Stay there too long, and it will bleed into your relationships, health and personal life.

    Here are five common harmful habit addictions we’ve observed in high-achieving entrepreneurs:

    Related: 18 Destructive Habits Holding You Back From Success

    1. The human doing

    This behavior presents when you only feel “worthy” or like “enough” when you’re being productive, useful or valuable. If you’re not busy (over)achieving, you feel lazy, worthless or like you’re wasting time. You’re addicted to being busy and incapable of switching off — ever. This can impair recovery, creativity, problem-solving and long-term resilience.

    2. Completion addiction

    You never give yourself permission to be fully present, in the moment, at peace or in harmony with life — until ALL to-do lists are complete, all unfinished business is finished, all problems are solved and all unanswered questions are answered. You can’t stop thinking about a topic or project until you have closure, it’s signed off, over and done!

    You’re desperate for the feeling of completion, which never comes, so you rush through your day, never taking time to stop, recover or be present. This is particularly problematic for long-term projects.

    3. Over-attention to detail

    Perfectionism is the antithesis of high performance. It’s an impossible standard and often stems from being afraid to make a mistake or look like a fool.

    You always look for what’s wrong or not good enough, and you always find something. Nothing you do ever feels good enough, tasks take 10x longer than they need to, or you often don’t even get started because you feel overwhelmed.

    Related: Perfection Is a Trap, and It’s Keeping You From Being Successful

    4. Overthinking and overanalyzing

    This habit is also driven by the fear of being judged or criticized, as well as the fear of failure. Now you have an endless list of “What ifs.” You “need” certainty and predictability, which simply doesn’t exist. You need to know what’s going to happen, when and how — before it even happens!

    This trait is often combined with control issues, where you need to control everything and everyone in order to feel safe and secure. Even if you’re not doing it overtly — because you’re afraid people might think you’re controlling — you’re trying to predict and control covertly. Either way, it’s exhausting.

    5. People pleasing

    The final high-achieving trait we see often is when you’re constantly saying “yes,” but you wish you could say “no.” You don’t have clarity on your boundaries. Even if you did, you’re constantly violating them and your standards to avoid upsetting people, as well as your fear of being judged or criticized again. You struggle to say “no” without massive guilt and without ruminating over previous experiences.

    These bad habits lead high-achievers to obsess over the minutia. You constantly feel the need to prove yourself or justify your position. You regularly get stuck in your head, ruminating and worrying, trying to make everything perfect.

    When you have a high tolerance for pain and stress — which you do because that’s part of every business owner’s DNA — you can achieve a lot in your career … BECAUSE of these traits. But they can only get you so far.

    After a certain threshold, the workload, stress and overwhelm become too much, and you max out. What got you here won’t get you there. It’s time to be as successful personally as you are professionally.

    You’ll never break through your glass ceiling if you stay addicted to these habits and the old identity that drives them.

    Related: 10 Bad Habits Entrepreneurs Must Give Up To Be Successful

    How to break harmful high-achieving habits

    We all have blind spots that prevent us from seeing the forest for the trees. And two big influences on how you view your world are:

    1. Your relationship with yourself

    Stop making self-worth conditional. You wouldn’t accept your child based on passing an exam or tidying up their room, so why do we make our own self-worth conditional on looking a certain way, earning $X amount or achieving something big?

    Most high-achievers react when they hear this and think, “If I do that, I’ll lower my standards, become complacent or drop the ball,” which is a false assumption.

    The foundation of self-acceptance means you can chase the right things for the right reasons. You can still be ambitious, but this time, it’s about results — not about feeling good enough or proving yourself.

    2. Your relationship with the future

    Life is uncertain! We never know what’s going to happen next. But we humans have a built-in need for certainty — and there lies the problem.

    We want to know what, when and how “it’s” going to happen, which is futile and exhausting. Forward planning is important, but not overplanning. When people have poor relationships with uncertainty, they tend to have control issues, completion addiction and chronic worry.

    So, stop trying to control the uncontrollable. Understand (and accept) that the answer to every question about the future is still, “I don’t know.”

    By putting these two influential foundations in place, the five bad habits of high-achieving entrepreneurs naturally dissolve — by themselves!

    You’ll no longer be in a fight against yourself, and your natural strengths become enhanced. Your previously harmful habits have now created space for healthy, high-achieving habits to take their place.

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    Rachel Godfrey

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  • Stingy Paid Holidays Exacerbate U.S. Work-Life Imbalance | Entrepreneur

    Stingy Paid Holidays Exacerbate U.S. Work-Life Imbalance | Entrepreneur

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    The U.S. comes in second on the list of 10 countries offering the least amount of paid vacation time, according to a report from career-resource platform Resume.io. In the private sector, American employees receive 10 days of PTO on average, not including holidays and sick days — a shockingly low number compared to those in other developed nations.

    In many countries around the world, particularly those in Europe, it’s not uncommon for employees to take vacations for months at a time, in many cases due to the European Union Working Time Directive, which requires a minimum of 20 working days of paid vacation in all EU countries, CNBC reported.

    Related: How to Determine Your PTO Policy

    “In the U.S., it is estimated that less than 50% of workers who get paid vacation time use their full allotment each year.”

    “[The disparity] has largely been driven by American business resisting any kind of mandate to provide paid time off for workers,” Joe Mull, a 20-year HR veteran and author of the new book Employalty: How to Ignite Commitment and Keep Top Talent in the New Age of Work, tells Entrepreneur. “For more than 100 years, all proposed national laws guaranteeing paid leave to workers have failed to pass. In nearly every other developed nation on earth, workers are guaranteed paid time off.”

    Thanksgiving is around the corner in the U.S., and although 39% of private industry workers nationwide will have the day off, most of them aren’t grateful for the stingy vacation policies their employers subject them to year-round. And even those lucky enough to have more PTO at their disposal are tired of being unable to use it.

    Related: These Are the 10 Countries With the Least Paid Vacation — and Where the U.S. Ranks Might Surprise You

    “In the U.S., it is estimated that less than 50% of workers who get paid vacation time use their full allotment each year,” Mull says. “The most common reason given for not taking vacation time is fear of falling behind at work.” And many other workers feel they must reserve paid vacation time for when “life happens,” including issues surrounding childcare and elder care, sickness, transportation and more, he adds.

    “A functioning society with optimal mental health requires periods of rest and restoration.”

    What’s at stake if the U.S. doesn’t catch up? According to Mull, a lot: American employers can expect continuing high levels of burnout (77% of U.S. professionals have experienced burnout at their current job, per a Deloitte survey) and will struggle to attract and retain top talent.

    “Much of the turmoil in the labor market in recent years has been driven by employees changing jobs in pursuit of better quality of life,” Mull says. “So the business case here is that employers reduce employee churn and deliver better products and services to customers when they have a full complement of healthy, engaged employees.”

    Related: 3 Truths About Unlimited PTO — Why Employees Are Worse Off With Endless Vacation Days

    But there’s an even bigger issue at play, Mull warns: “A functioning society with optimal mental health requires periods of rest and restoration, and our current culture around work and paid time off doesn’t support this.”

    “It’s a symptom of several larger issues related to rising workloads, childcare deficiencies and more.”

    Mull compares the plight of U.S. workers to an engine that’s been racing at maximum RPMs for long periods of time — “eventually, it gives out.” That’s why time away from work, and the restoration it provides, actually makes for more productive employees and better work outcomes, he says.

    “What’s important to note here is that it’s not just about offering more vacation time,” Mull adds. “Employers must create the conditions that allow employees to actually use it. In many ways, the rate at which we take vacation time isn’t the problem — it’s a symptom of several larger issues related to rising workloads, childcare deficiencies and more.”

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    Amanda Breen

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  • Employees Are Unhappier Than Ever — Here’s How Employers Can Emerge From the ‘Great Gloom.’ | Entrepreneur

    Employees Are Unhappier Than Ever — Here’s How Employers Can Emerge From the ‘Great Gloom.’ | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    I recently watched a six-person panel made up of spa and hospitality leaders discuss how they are making a real difference in the overall happiness of their teams. One of the main points of concern was the lack of employee connection. In fact, industry-wide, it was observed that the deeper the connections were between staff, the less issues there were with daily operations like getting shifts covered.

    The issue of employee happiness isn’t isolated to hospitality — in fact, a recent survey released by BambooHR showed travel and hospitality is one of the rare industries that is seeing steady improvement in employee net promoter scores since the pandemic (although looming staff shortages still threaten that stability).

    Overall, employee happiness has steadily declined at the rate of 6% since 2020 and is trending in the wrong direction. This year, employee net promoter scores have decreased 9% since January — 10 times faster than the previous three years.

    From tech to education to healthcare (which had the lowest happiness score amongst all eight industries surveyed) we’re experiencing a crisis of unhappiness in the workforce, which some have cleverly coined as “The Great Gloom.”

    As we head into the holidays, which for many only increases stress, here are three unconventional ways employers can cultivate employee happiness at work.

    Related: 3 Proven Ways to Keep Employees Happy

    Prioritize connection at work

    When it comes to cultivating happiness at work, many professionals have focused on the importance of feeling connected to an organization’s purpose. While this is a valid point of view, we cannot forget the importance of also fostering connection amongst employees.

    In 2024, it’s expected nearly 32.6 million Americans — approximately 22% of the workforce — will work remotely, and even a higher number will hold hybrid positions. While remote and hybrid work offer employees much-needed flexibility, if not implemented with intentional ways of cultivating team connection, working remotely can lead to feelings of loneliness and isolation.

    Even in in-office environments, we’re increasingly relying on digital channels as our primary means of communication. While sending an email or text is efficient, it’s not effective at cultivating real, human relationships. While it may seem counterintuitive to achieving workplace productivity, initiating downtime at work is one of the most effective ways leaders can foster employee connection and happiness at work.

    In fact, research has shown employees who take breaks from actively working have greater mental focus, broader perspective and are more productive. Initiating downtime at work can be as simple as organizing a group lunch where everyone watches an inspiring Ted Talk together or a snack break (virtual or in person) where the primary focus is to socialize and check in.

    Downtime at work doesn’t have to be a big-budget initiative, but it does have to be prioritized so all leaders feel empowered to create opportunities for their teams to connect on a human level.

    Related: 5 Easy Ways to Create Stronger Workplace Connection

    Make flexibility a non-negotiable

    Our company is proudly women-founded, women-led and employs predominantly women. As such, many of my colleagues take on the role of mothers or caregivers for aging parents or loved ones, in addition to their full-time job.

    Expecting my team to show up for our company before they’ve shown up for themselves or the people they care for, sets us all up to fail. So, it’s crucial we have flexibility in our culture to allow for varying schedules and processes that still meet our shared company objectives.

    Every company has a diverse DNA, and offering flexibility to meet shared company goals — whether it be through schedule, location or process — is a key factor for cultivating happiness in the workplace. A study published by the Harvard Business Review showed nearly 96% of U.S. professionals said they wanted flexibility, but less than 50% had it.

    When employees have greater flexibility to balance their personal and professional lives, it creates less stress and also fosters a culture of trust where people are empowered to take ownership of managing their work and achieving targets.

    As a leader, my primary concern is creating an environment where everyone on my team can work hard and feel valued, and there’s no better way to do this than by providing structured flexibility.

    Related: Want Happy Employees? Make Sure Your Leaders Have These 4 Key Characteristics.

    Offer economic transparency

    Over the past few years, economic uncertainty and the rising cost of living have become a huge concern for employees and employers alike. It’s hard to cultivate a sense of happiness amongst employees if there are concerns around job security.

    A 2023 work monitor report by Randstad showed 52% of respondents were worried about the impact economic uncertainty would have on their job security, and 37% were explicitly concerned about losing their job. While no company can fully predict how macroeconomic factors might affect their business, leaders can be as transparent as possible.

    In our company, we review company performance numbers with our entire team on a daily basis. Goals, projections and sales revenue are all reported as part of a mandatory company huddle. We lead with the idea that every team member, regardless of their title, is a leader, and as such, everyone is invited to address concerns and put forward solutions without waiting for someone to ask them.

    By being as transparent as possible about company performance, leaders can create a culture of empowerment over fear. Even when things aren’t going well, it offers employees an opportunity to be part of the solution and impact the outcome. If hard cuts do have to be made down the road, employees are also more likely to have an emotionally positive experience if they understand the full picture than if they are left in the dark about company hardships.

    As leaders, the onus is on us to evaluate our company cultures and implement strategies to strengthen them. Not only do deeper workplace connections create happier employees, but they help build a sense of belonging, increase employee loyalty and support a culture everyone can be proud of.

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    Noel Asmar

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  • 5 Traits You Must Have to Create More Leaders | Entrepreneur

    5 Traits You Must Have to Create More Leaders | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    How do you define a truly great leader? While most of us have witnessed great leadership at various points throughout our careers and professional development, it is challenging to accurately pinpoint the secret sauce in leadership success. Great leaders have some obvious qualities in common, like their capacity to share an inspiring vision for the future. Great leaders often possess passion and charisma. They are strong communicators who connect, motivate and enlist their teams to achieve lofty goals. And perhaps most notably, great leaders create a line of devout followers.

    Not so fast.

    Great leadership has very little to do with one’s ability to amass followers. In his bestselling book “In Search of Excellence,” leadership guru Tom Peters explains, “Leaders don’t create followers, they create more leaders.”

    While every great business leader attracts their fair share of admirers, they simply don’t consider collecting followers as either an objective or a gauge of their leadership success. Instead, great leaders understand that a key function of good leadership is to develop team members into the best version of themselves and leaders in their own right.

    Related: 5 Ways to Develop Leaders Within Your Own Ranks

    Characteristics of a truly great leader

    Great leadership is a surprisingly nuanced and selfless role.

    Great leaders embrace their employees, not just for who they are and the functions they perform now, but also for who they can become and the position they can develop. Strong, capable employees do not threaten great leaders. Rather, they value their team’s talents, recognize their potential, and leverage their spirit of achievement.

    Great leaders create opportunities for their people’s growth — mentoring, encouraging, and elevating. They give their employees space to improve, the luxury to make mistakes, and the opportunity to learn from those errors. Great leaders grant their teams the freedom to explore and the capacity to excel.

    Great leaders care about their employees first as people and second as workers. They conduct themselves with the greatest integrity and model every day what great leadership looks and sounds like. They strategically position their people for individual growth as well as the long-term success of the business.

    Now, isn’t that far more substantial than merely creating followers?

    Related: Here’s How You Can Create Leaders in Your Team

    How to be a better business leader

    I could list characteristics of a great leader until the cows come home, but recognizing traits of a great leader and being one — well, those are two different things entirely.

    So, what can you do to improve your leadership skills and elevate yourself to a truly great leader? It all starts with connection and engagement. The following are five actions you can implement to help you become a great leader who develops more great leaders.

    1. Delegate tasks and activities

    Empower your employees and create development opportunities by strategically delegating challenging tasks. Your willingness to delegate key activities demonstrates your trust in your team and your commitment to their development. It is also fantastic on-the-job training.

    Related: 3 Ways to Effectively Delegate at Work and at Home

    2. Be a transparent communicator

    Employees should not be left to guess or assume how you feel about certain business dynamics. Being as forthcoming as possible with your team demonstrates that you respect their capacity to grasp and appreciate our positions. In short, candor builds trust.

    3. Recognize excellence

    Do you have a high performer or a passionate contributor? Don’t be shy about showing your appreciation and celebrating excellence. Everyone on your team should understand how grateful you are for their positive impact on the business’s overall success. And when they fall short, guide them to hit their mark next time.

    4. Invest in leadership development

    Create mentorship and leadership development opportunities. Remember, leadership development is not a one-and-done initiative but rather a sustained commitment to the long-term advancement of your people. Consider offering various leadership workshops, webinars and executive coaching programs.

    Related: 7 Leadership Qualities of All Great Leaders

    5. Share your vision

    By sharing your vision for the business, you provide your team with a clear sense of purpose and the opportunity for alignment. Your vision is an inspirational guide and a driving force that affects every aspect of your business and your decisions, so don’t keep it a mystery.

    By developing your own leadership skills, you also enhance your ability to cultivate those same skills in your employees, which sounds a lot like your next big step toward long-term success.

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    Jason Zickerman

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  • What Can Be Done About Employee Retention Amid Stagnation? | Entrepreneur

    What Can Be Done About Employee Retention Amid Stagnation? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    The employment landscape has shifted dramatically in recent times, with companies suddenly faced with a surprising issue they weren’t prepared for – a lack of voluntary employee departures. This is in stark contrast to last year’s high employee turnover rates, and companies are now grappling with the implications of employee retention in a stagnant labor force.

    A Startling Development in Employee Retention

    The white-collar labor market presents a unique challenge as organizations reevaluate their employee engagement strategies to emphasize job satisfaction and growth opportunities, all in a bid to inspire their workforce to stay and thrive. This new dynamic demands that businesses remain agile and focused on employee welfare to maintain a stable — yet responsive — workforce.

    The Ripple Effect of a Stagnant Workforce

    Employers have long endeavored to maintain a balance between keeping a steady workforce and preventing high attrition rates. However, the current employment dynamics have since changed, leading to unexpected concerns among businesses as they strive to navigate the impact of a stagnant workforce, which includes a myriad of negative consequences such as decreased innovation, skill stagnation, and diminishing employee morale. Companies now find themselves balancing employee growth with workforce stability and productivity in this uncharted territory.

    Related: Data Reveal the 7 Factors for Optimal Employee Retention

    Exploring the Causes of a Soft White-Collar Labor Market

    Various factors have contributed to this change in employment dynamics, including economic instability, shifting work patterns, and employees’ quest for job security. The convergence of these factors has led to employees deciding to stay put in their current roles, consequently affecting the natural movement of talent within organizations. This job movement stagnation has also caused a drop in available positions, limiting opportunities for employees to seek new roles. Employers, focused on retaining their existing workforce and stability, are hesitant to hire and may not offer competitive salaries.

    Implications for Businesses and Employees Alike

    Both companies and employees face consequences in this evolving marketplace. The absence of voluntary job departures might lead to a lack of fresh talent entering organizations, thus stifling growth and innovation. Meanwhile, for employees, decreased job mobility may result in stagnating professional growth and fewer opportunities to sharpen skills. As a result, both parties must invest in strategies to attract fresh talent and nurture ongoing development to stay competitive in this dynamic market.

    Decreased Mobility, Limited Advancement

    Limited promotional opportunities for workers due to lower job mobility may hinder professional growth and career advancement, leading to reduced job satisfaction and motivation. Ultimately, this onset of stagnation may negatively affect overall productivity and innovation within a company.

    The Upside of Fewer Voluntary Resignations

    On the other hand, a reduction in voluntary departures may indicate increased employee engagement and satisfaction, leading to greater productivity and company loyalty. Additionally, this situation could result in cost savings for businesses, as they bypass expenses associated with employee turnover and recruitment.

    Navigating the Shift to Reap the Benefits

    Companies that effectively transition through these changes may enjoy increased loyalty and productivity from their workforce, fostering a more dynamic work environment and positioning themselves as industry leaders.

    Conclusion: Embracing the Challenges and Opportunities

    The current disconnect between previously high attrition rates and today’s unexpectedly static labor market presents a novel challenge for employers and employees alike. A multi-faceted approach to understanding the contributing factors is required, focusing on the needs and desires of both parties. Implementing innovative strategies to adapt workplace culture and support professional development will be essential in fostering a mutually beneficial environment.

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    Kimberly Zhang

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  • 3. Stop Annoying Your Colleagues: Fix These 6 Behaviors Today | Entrepreneur

    3. Stop Annoying Your Colleagues: Fix These 6 Behaviors Today | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Many of us like to think we’re highly self-aware, but most of us are not. Emotional intelligence is hailed as one of the hallmarks of a great leader. It’s a hot topic in the workplace, and numerous research organizations have produced studies that say emotional intelligence comes down to a handful of factors — including self-awareness, emotional regulation and empathy.

    But why do we think we are more aware than we are? It’s because we don’t get enough feedback on how we come across to others. This leaves us with blind spots when it comes to understanding how others view us. You might think you’re a star employee and desirable peer, but you could make others more uncomfortable. As a mentor and leadership coach, I’ve identified six behaviors that you should address and fix if you want to maintain and grow a better workplace relationship with your peers.

    More from the author: 6 Habits of Powerful People

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    Amy M Chambers

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  • 20 Ways to Master Your Brand on LinkedIn in 2024 | Entrepreneur

    20 Ways to Master Your Brand on LinkedIn in 2024 | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Personal branding is more than a self-promotion exercise. It’s the art of building a holistic professional identity that aligns with your skills, values and career goals. A great personal brand can help you attract customers and business partners while establishing your authority as a leader in your industry.

    If you’ve been in the business world, you’ll surely know that a great image and loyal following can make all the difference to your market share and sales. This is where the unparalleled platform for personal branding for professionals across industries and careers comes in. Yes, I’m talking about LinkedIn!

    LinkedIn reigns supreme as the go-to professional networking platform for building a brand. With a whopping 875 million members and 310 million monthly active users as of 2023, most being business professionals, LinkedIn is a goldmine of branding opportunities for a professional. Your target customers and prospective business partners are waiting for you, but navigating through such a crowded field to get yourself heard can be daunting.

    Thankfully, LinkedIn offers the tools you need to succeed on the platform. You need to make the most of LinkedIn’s inbuilt features to stand out from the crowd and establish your brand — if you want to learn how you’re at the right place! In this article, we’ll explore 20 innovative features that can help you master personal branding on LinkedIn in 2024 and beyond.

    Related: Unlocking the Power of LinkedIn: How Entrepreneurs Can Leverage the Platform for Growth and Success

    1. LinkedIn stories and stories ads

    Gone are the days when LinkedIn was just a digital resume. Now, you can share Stories, just like on Instagram or Snapchat. Use them to give people a peek into your workday or share quick career tips. And if you want to go big, you can even use Stories Ads to reach a wider audience. It’s a fun and interactive way to boost your personal branding on LinkedIn.

    Related: 7 Ideas For Personal Branding Using LinkedIn Stories

    2. Live videos

    Live videos are a game-changer for personal branding on LinkedIn. Imagine the possibilities — hosting a webinar, conducting a live Q&A session, or even giving a virtual tour of your workspace. It’s like having a virtual stage where you can showcase your expertise and engage with your audience in real-time.

    3. LinkedIn polls

    Curious about what your network thinks about a hot industry topic? Or maybe you’re looking for feedback on a project? LinkedIn Polls are your best friend. They’re a simple yet powerful tool for gathering insights and sparking meaningful conversations, enhancing your personal branding on LinkedIn.

    4. Product pages

    If you’re selling B2B products, listen up! LinkedIn Product Pages are akin to having a dedicated website within LinkedIn. It’s a multifaceted feature that not only adds credibility but also serves as a direct channel for potential business opportunities, boosting your personal brand’s reach and reputation.

    Related: How to Find Investors on LinkedIn

    5. Analytics for content creators

    Here’s something for all the data enthusiasts — LinkedIn’s analytics, a treasure trove of insights. You can track engagement metrics and even understand the demographics of your audience. This feature is like having a personal branding dashboard that helps you fine-tune your content strategy based on real-time feedback.

    6. Creator mode

    Activating Creator Mode is akin to spotlighting your content creation efforts. It changes the layout of your profile to highlight your posts and encourages more people to follow you rather than connect. It’s a subtle yet effective way to enhance your personal brand.

    7. Cover story

    You know how they say first impressions last? Well, the Cover Story feature lets you add a short video intro to your profile. Think of it as your elevator pitch but in video form. Well-designed cover stories are a fantastic way to make a memorable first impression.

    Related: 6 Ways to Ace Social Media Branding for Your Startup

    8. Pronouns and name pronunciation

    In today’s world, inclusivity is not just a nice-to-have, it’s a must. Adding your pronouns and a name pronunciation guide may seem like small gestures, but they go a long way in making everyone feel seen and respected. It’s a step towards building a more inclusive personal brand that resonates with a diverse audience.

    9. Skills assessments

    LinkedIn Skills Assessments serve as a third-party validation of your skills, whether Python programming or SEO expertise. Passing these assessments not only adds credibility but also signals to your network and potential employers that you have the skills you claim to have, further solidifying your personal branding efforts on LinkedIn.

    10. LinkedIn newsletter

    Starting a LinkedIn Newsletter is not just about sharing long-form content. It’s about building a community. It offers a platform to delve deeper into topics you’re passionate about and engage with your audience on a more intimate level. Over time, this can position you as a thought leader in your field, significantly boosting your personal branding on LinkedIn.

    Related: 3 Strategies for Maximizing Your Potential on LinkedIn

    11. LinkedIn events

    Hosting a LinkedIn Event is a fantastic branding exercise. Whether it’s a virtual panel discussion or an in-person networking session, these events offer a unique opportunity to bring like-minded professionals together. It’s a great way to provide value, share expertise and build a community, all of which are vital in strong personal branding.

    12. LinkedIn conversation ads

    Imagine sending a personalized ad right into someone’s LinkedIn inbox. That’s what Conversation Ads lets you do. Conversation Ads offer a more personalized and intimate way to engage potential clients or collaborators. It takes a direct approach that can yield high engagement rates, making it a valuable tool in your personal branding arsenal.

    13. LinkedIn lead gen forms

    LinkedIn Lead Gen Forms help simplify the often tedious process of data collection. One click and voila! You’ve got yourself a high-quality lead. With pre-filled information, these forms make it easier for people to engage with your content. It’s a user-friendly feature that makes your personal branding efforts more effective and efficient.

    14. LinkedIn dynamic ads

    These aren’t your run-of-the-mill ads! Dynamic Ads are a step above traditional advertising. They use the viewer’s LinkedIn profile data to personalize the ad in real-time. This level of personalization can significantly increase engagement rates, making your advertising efforts more effective and aligned with your personal branding goals.

    Related: 4 Keys to Building B2B Brand Awareness Online

    15. LinkedIn video ads

    Why tell when you can show? Video Ads let you bring your brand story to life. They offer a dynamic storytelling medium. These ads are all about conveying your brand message in a more engaging and memorable way, enhancing your personal branding efforts on LinkedIn.

    16. LinkedIn carousel ads

    Think of Carousel Ads as a mini-slideshow that allows you to showcase multiple products or narrate a story slide by slide. This feature offers a unique and creative avenue to engage your audience, making it easier to convey complex messages or highlight various aspects of your brand. It’s an inventive approach to enrich your personal branding on LinkedIn.

    17. Featured section and articles

    Your LinkedIn profile is your personal branding billboard. Use the Featured Section to showcase your best work, whether it’s a project, article, or even a testimonial. It serves as a portfolio that visitors can explore, offering a more rounded view of your expertise and skills. Leveraging the featured section, you can focus on putting your best foot forward.

    18. Recommendations and endorsements

    Nothing boosts your credibility like a glowing recommendation or skill endorsement. It’s social proof that you’re as awesome as you say you are. Endorsements from people who have worked with you and can vouch for your abilities add a layer of credibility to your personal brand that’s invaluable.

    19. InMail

    Want to reach out to someone outside your network? InMail helps you break down the barriers by allowing you to reach out to anyone on LinkedIn, regardless of whether they’re in your network. It’s like having a VIP pass to connect with industry leaders, potential clients, or collaborators, expanding your reach and influence.

    20. LinkedIn learning coach, accelerate for marketing, and more

    LinkedIn is constantly rolling out new features like a Learning Coach and Accelerate for Marketing. Whether it’s recommending courses to enhance your skills or optimizing your marketing campaigns, these features offer actionable insights that can be instrumental in boosting your personal brand.

    Ready to boost your personal brand?

    Personal branding on LinkedIn is a dynamic, ongoing process that requires strategic use of the platform’s multifaceted features, as we discussed. And the most important factor here is undeniably the content you present. If you don’t know where to start, consider the expertise that an experienced design agency can bring in crafting impactful content to create a cohesive and compelling professional narrative.

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    Vikas Agrawal

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