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Tag: Employees

  • 3 Tips for Leading Teams Effectively Through Adversity | Entrepreneur

    3 Tips for Leading Teams Effectively Through Adversity | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If there’s anything we’ve learned over the past few years, it’s that plans can be derailed at any moment without warning. Businesses that were fortunate enough to survive the pandemic know that it took a lot more than luck to make it through, and several are still facing the repercussions. From Covid — to the Great Resignation of 2021 — to a looming recession in 2023, several business leaders feel like they just can’t catch a break. Though we’ve learned to adapt and even advance in times of uncertainty, it doesn’t mean thriving during these times is easy.

    I’ve spent the last 25 years leading businesses, but I’ve learned more as a CEO in the past few years than ever before in my life. The single most important thing a CEO can do during times of crisis is to lead by example and set a precedent for their team. Below I’ll outline some of the best ways I’ve found to do that effectively.

    Related: How to Lead Effectively in Uncertain Times

    What does uncertainty mean for CEOs?

    93 percent of CEOs are preparing for a recession in the next 12-18 months. Historically, recessions occur on average every 9-10 years. As of now, the last recession was in 2008 — so it’s evident that we are long overdue.

    While recession talk is nothing new, and it’s still unknown how drastic the economic correction will be, 51% of CEOs have been considering workplace reductions as part of their preparation since Q4 of 2022. This kind of uncertainty surrounding job security can disrupt an otherwise healthy company culture, with employees feeling like they are walking on eggshells and wondering if their jobs could be in jeopardy.

    During times of crisis, teams look to their leader to show the way. A good CEO will take this responsibility seriously, setting the tone for the whole organization and establishing an environment where there’s trust and respect. We’ve seen some poor examples of leadership that have been widely publicized in recent years, and it reminds us that even leaders of top-performing businesses are flawed. While we can’t be perfect, we can choose to do the right thing and accept the responsibility of leading through adversity.

    1. Practice transparency and effective communication

    When it comes to communication, more is better than less. This is especially true during times of uncertainty. Keeping employees in the loop is key to building trust and showing that you care about their well-being. Let them know what’s happening in the industry, what your expectations are for how they will adjust in response and how you plan to move forward.

    Several CEOs back off when it comes to transparency out of fear that they will share too much and it will have the opposite effect as to what is desired. There is a fine line to balance here, and it is ultimately up to the CEO to determine which information is best to share with employees and how it should be shared.

    Transparency helps prevent miscommunication and rumors from spreading in the company, reinforcing team unity and alignment. While you don’t need to involve your employees in all company decisions, it’s important to give them an opportunity to share their opinions and concerns and acknowledge that their voices are valuable. I believe it’s best to take in employee feedback for consideration and to help guide your decision-making. Then, relay information once details have been established and discussed among company leaders and you have a clear idea for direction.

    Related: 4 Steps for Building Your Team’s Resilience

    2. Prioritize mental health and well-being

    In recent years, stress levels among American workers have drastically increased due to the unpredictable nature of the economy. A survey by the American Psychological Association revealed that 75% of Americans report feeling more stress than they did five years ago. Furthermore, 83% of U.S. workers suffer from work-related stress, with 25% saying that their job is the main stressor in their life.

    As a CEO, it’s important to make an effort to help reduce stress among employees by prioritizing their mental health and well-being. This can include offering flexible work hours, providing resources and access to therapy services, encouraging breaks throughout the day, allowing time for physical activities and implementing policies that promote employee autonomy and self-care.

    Additionally, it’s important to create an open dialogue where employees feel comfortable expressing their feelings and concerns. Businesses that prioritize mental health are proven to have better employee retention.

    At my company, Align, we have an Unlimited PTO policy. The policy is simple: Get your work done, and you’re free to take off whenever you want. We use this policy as a way to show employees that hard work is appreciated and rewarded — and that their mental and physical health matters. I encourage all my team members to take off when they need a day to recuperate to help maintain a healthy mindset and avoid burnout.

    3. Base decisions on company core values

    People tend to panic during times of crisis, which is why it’s the worst time to be making important decisions. Planning ahead is key, but like I mentioned, it’s not always easy to plan for the unknown. What you can do is plan where you will reduce costs if and when a recession hits. You may plan to cut people, salaries or departmental resources and spending. But whatever you decide, make sure it makes sense for your company.

    If you get stuck, go back to your core values. Your company’s core values are what define your organization and should guide all decision-making, big and small. Use them as a compass to help steer you in the right direction, even during times of uncertainty.

    Your core values must live in your company at all levels from the top down. If you act with regard to these values at all times, you are more likely to create a trusting culture and gain respect from your employees.

    At Align, we stress the importance of core values at all times, starting from the beginning with the hiring process. We make sure every new hire knows our core values and understands what it means to uphold them in our day-to-day work and relationships. This alignment over common values is critical to maintaining a cohesive culture and being able to persevere as a team through hard times.

    When it comes to teams, resilience is not a trait — it’s something that must be cultivated through careful planning, transparency and trust.

    Leading a team through adversity is an immense responsibility. It can be difficult to manage during times of economic hardship or political instability, but by following these principles and inspiring your team to stay positive, you will come out strong.

    Related: How to Stay Calm in a Crisis and Lead Your Team Through Anything

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    Doug Walner

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  • What Leaders Must Do to Create a Great Customer Experience | Entrepreneur

    What Leaders Must Do to Create a Great Customer Experience | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    A great customer experience (CX) begins with an engaged, empowered, and inspired employee. Without them, it’s impossible to ensure that customers are experiencing your brand as you intended. When employees are engaged, they are far more likely to ensure customers are satisfied with your products or services — because they’re able to deliver great things. And consistent customer engagement is the gateway to maintaining your customer relationships throughout their lifetime.

    Here are a few tips leaders can use to better manage their teams, boost employee engagement and provide great experiences for their customers.

    Related: Happy Employees Create Happy Customers

    1. Create a customer-centric culture

    A customer-centric culture helps employees feel like they’re part of something bigger than themselves, leading to higher customer satisfaction. A customer-centric culture focuses on the needs and wants of customers. It involves ensuring that your employees are involved in decisions impacting the company’s processes, procedures and interactions with customers. Ensuring that you have this type of environment can help you better understand how to improve your customer service strategy for long-term success.

    2. Avoid tunnel vision

    There is no one else who can see the whole picture except for you. You know your business inside and out, and you’ve got a clear vision of what it needs to be successful.

    It doesn’t mean, however, that you should go it alone.

    In fact, when it comes to customer experience, you need all hands on deck —including your employees’ hands!

    When you rely too much on your perspective as the owner or manager of a business, you’re at risk for tunnel vision — seeing things only from your perspective and not considering other perspectives or options. That’s bad for the customer experience because you miss many opportunities to improve it.

    When employees are engaged with their jobs and invested in the company’s success, they have valuable insight into how customers interact with products or services in real life and how they can improve those interactions. They also have access to information about what customers want that you may not even know exists! When they share this knowledge with you and collaborate, you’ll get better results than ever before.

    3. Measure and reward the right things

    A great customer experience begins with great employee engagement and management.

    That’s why my team and I measure and reward the right things — not just sales but also customer satisfaction.

    We do this by having all our employees work together in a small, open office environment so they can ask questions and help each other out. We don’t have managers or supervisors — everyone is on the same level, so there are no barriers to information sharing.

    It’s not just about keeping up with the latest technology; it’s about ensuring everyone in the company understands how their actions affect customers’ experiences.

    Related: 7 Excellent Reasons to Focus on Employee Engagement

    4. Avoid silos

    The best way to ensure a great customer experience is to avoid silos.

    Silos are when departments or people don’t communicate with one another, so you might be missing out on important information. If your team is siloed, they’ll have trouble communicating with customers. Without communication, there’s no teamwork; without teamwork, there’s no CX.

    To avoid silos in your company and keep your employees engaged with one another and their work, ensure everyone is working towards the same goal. You can create an employee engagement strategy that includes regular meetings where employees can discuss new ideas for improving your customer experience. You could also try using gamification techniques like badges or points as rewards for completing certain tasks within your company’s larger goals.

    5. Empower your frontline employees

    The front line of your business is the first step in your customer experience. That’s why it’s so important to empower your frontline employees to create a great customer experience.

    They’re the ones who greet them, serve them and make sure they have what they need to be happy. They’re often the only people you meet when you walk into a store or restaurant. And even though they may not be able to influence every interaction with a customer, they can certainly make an impact on some of them.

    If you want to make sure that your customers are getting the best possible experience, you need to make sure your employees are empowered and encouraged to do their best work. This doesn’t mean that you should constantly micromanage them — it just means that you should give them room to be creative and develop their skills as they get to know your company better.

    Related: Customer Experience Will Determine the Success of Your Company

    6. Be open to collaboration and innovation

    The best CX is built on a foundation of employee engagement, so it’s important to give your employees the freedom to collaborate and innovate.

    When employees feel like they’re part of something bigger than themselves, they’ll go above and beyond for their customers. And when they do, you’ll see the results in happier customers, higher sales and more loyal clients.

    With everyone in your company striving toward the same goal, you can create a better customer experience. If a business lacks a culture of employee engagement and great management, it is almost inevitable that its customers won’t get the high level of service and support they deserve. Customers will likely never know about internal issues but will be presented with a disappointing experience that may cost a company future business opportunities.

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    Chris Kille

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  • Why Leaders Must Encourage Creativity in the Workplace | Entrepreneur

    Why Leaders Must Encourage Creativity in the Workplace | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    During the global oil crisis of the 1970s, a little-known scientist named M. Stanley Whittingham first developed the concept of the rechargeable lithium-ion battery. Over the next 50 years, others improved on his idea, and now, the lithium-ion battery is essential for everyday life.

    But the creativity necessary for innovation doesn’t happen by accident. Leaders need to be intentional about encouraging their teams to examine critical issues and explore their creative sides. This is how we develop the life-changing technologies that propel humanity forward.

    Why innovate?

    The greatest innovations are often bred out of necessity. Humans are natural problem solvers. It’s in our DNA, and I would even argue it’s our plight as a species. Our ability to devise solutions and create new technologies has allowed us to make astounding advancements that improve the quality of life for billions of people.

    How do these life-changing technologies come about? We first need to understand the problems we face — but too often, we put ourselves and others in a state of fear.

    Managers and leaders who wonder why their people seem content to complain rather than innovate should take a hard look at their company’s processes to determine whether their culture fosters the freedom people need so they can create.

    Related: The Importance of Creativity in the Workplace

    Netflix vs. blockbuster

    Netflix’s model made Blockbuster obsolete in about ten years. Blockbuster made plenty of mistakes in that time, but arguably, their biggest error was getting too comfortable. There were several times when Blockbuster could have put Netflix out of business (including buying them out for $50 million), but they didn’t. Blockbuster had become the at-home movie rental business leader, and their leadership teams didn’t see the big picture. This failure to embrace a culture of innovation led to their eventual demise.

    Netflix, on the other hand, encouraged creative freedom. They gave their employees room to problem-solve, come up with big ideas, and fail. It empowered them to take risks, through guidance and mentorship. Their employees likely felt trusted and valued because of this freedom — and incredible things came from it. As a result, Netflix remains atop its perch as one of the world’s top streaming services.

    Managing teams that dream

    If you want a team that dreams about how to build the world of tomorrow, focus on freedom. Why has the U.S. historically been ahead of the rest of the world in creating new technologies? One major factor is that our government framework allows independent people to operate in a free market system. Even a century ago, today’s world was beyond imagination, and it was all built by people who dreamed big and had the freedom and opportunity to create something good for humanity.

    It’s risky to encourage your people to be problem solvers. Many innovations fail, and failure can be expensive. But failure isn’t a reason not to try, and the leaders who underwrite their people’s failures (when they’re not a result of incompetence) will build a culture of trust.

    Employees who feel their leaders trust them can feel comfortable taking risks, and that’s what it takes to invent.

    Related: 5 Ways to Inspire Creativity and Innovation in Your Employees

    Your people are the key to success

    It’s not as easy as just telling your employees to “dream big and innovate.” They need more guidance than that. As leaders, it’s our job to provide the right environment.

    For people to innovate, they need a problem to solve — so, start with that. What needs are you trying to meet as a company? Once you identify the problem, your people will succeed — as long as you have fostered a culture of innovation.

    It’s critical to ensure your team understands what innovation really is. It’s the application of science and the integration of existing technologies to create something new that the world needs. Understanding this simple concept makes all the difference. As a leader, stay informed on the latest discoveries and breakthroughs, and focus on finding creative ways to integrate them. This is how transformative solutions come to be, and it’s all about the betterment of humankind.

    People are the key to any and all success, so find out what makes them tick. What are their personal and professional goals? What will give them purpose? Once you know that, you can start to provide the means to get them there. With experience, you can give them enough focus to see the problem clearly, along with the necessary resources to get them started. Instead of depending on KPIs and data, leaders might see more progress if they embrace their humanity and concentrate on people development instead.

    How to foster creativity:

    • Allow your team to be free in thought and expression.

    • Empower your people to own their own destinies.

    • Guide your team with vision, clarity and focus.

    • Never allow management to stall the creative process, especially when they feel threatened by incoming, innovative ideas.

    Related: 7 Ways to Help Your Employees Become Better Problem-Solvers

    Management isn’t about power

    A culture of innovation starts with setting the cornerstones of trust, mentorship and freedom. Managers should provide their teams with a clear objective, the space to perform and a team to rely on. Creative employees feel trusted and in turn trust their leadership because they have been given the tools and support they need to accomplish their purpose, goals and dreams.

    We cannot forget the dreams who made us who we are today. Therefore, the world we imagine today is what will be.

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    Ed Macha

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  • How Leaders Can Encourage Productive Debate in the Workplace | Entrepreneur

    How Leaders Can Encourage Productive Debate in the Workplace | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    “Disagree and commit.” When Jeff Bezos says it, it sounds so easy.

    Amazon’s founder famously encourages productive debate inside his companies. For Bezos, it’s not about building consensus but creating alignment. In his words, “I know we disagree on this, but will you gamble with me on it?”

    Promoting a culture of spirited inquiry can mean walking a fine line between encouraging debate and avoiding derailments, but it’s worth threading that needle: According to a study by CPP Inc., workplace conflict costs U.S. businesses $359 billion annually in wasted resources and lost productivity. On the other hand, there’s the incalculably high cost of groupthink — a go-along culture that neglects important information, sidesteps real analysis and yields lackluster decisions. That’s especially dangerous in a slow economy when companies must leverage every competitive edge.

    As an engineer, I’m used to productive disagreement and a fact-based approach to decision-making. That’s how engineering culture works. But as a CEO, I’ve found cultivating that culture across the company can be a heavier lift.

    The right framework and a little humility can foster that spirit of productive debate, leading to more effective decisions and better outcomes. Here’s how:

    Related: The Art of Having a Productive Argument

    1. Before anything else — set goalposts

    It’s impossible to weigh options if you don’t know where the goalposts are. That’s why the first step to encouraging healthy debate among team members is to establish common ground.

    This starts with a clear company mission and targets but goes deeper than those broad principles. For every decision we deliberate, it must be clear what problem we are solving and what success looks like, and we must have clarity around any other parameters so we can properly evaluate potential courses of action.

    If discussion stalls or debates get stuck, we can look back and see how this decision fits into the bigger picture. In a startup aiming to increase shareholder value, every decision must be held to this basic test: Are we driving value for the company?

    2. Triage your debates

    The most important element of effective debate is deciding when not to have one.

    Not every decision merits a big confab or dueling whitepapers. I estimate that 70% of our decisions are of sufficiently low stakes that it’s best just to choose a course of action and correct it if needed.

    But high-stakes decisions like launches, acquisitions and fundamental strategies demand a thorough examination of all viable options. McKinsey researchers have rightly pointed out that limiting input on these “big bet” decisions leads to substandard decisions. Knowing when to speed up and slow decision-making is fundamental for a CEO.

    3. Beware of HiPPOs

    Without careful planning, the Highest Paid Person’s Opinion tends to carry the greatest weight in any discussion. Leaders need to be cognizant of and work to counteract this HiPPO effect. For example, if I’m in the room during a discussion, I avoid stifling debate by expressing my opinion last.

    Studies consistently show that thought diversity drives better performance, but team members sometimes need a nudge to express minority opinions rather than go with the flow. CEOs can overcome this “conspiracy of approval” by assigning someone to argue the cases for and against each option under consideration. I often have team members write these up in advance of group discussions. If discussions get sidetracked, I ask everyone to put on their “shareholder hat” and look again at the problem we are trying to solve.

    Related: Conflict Among Team Members Can Lead to Better Results

    4. Set an example from the top on how to disagree productively

    Encouraging a culture of spirited deliberation requires consistent modeling. People unfamiliar with this kind of workplace may need to see a productive debate in action once or twice to get comfortable enough to participate themselves.

    In my companies, new team members quickly learn that our culture encourages dissent backed by logic and evidence at even the highest levels of the company, but not conflicts grounded in ego or personal agendas. A crucial moment in this process is the first time a new team member and I disagree on an important decision. That’s my chance to model my receptivity to new ideas and humility when faced with better ones.

    5. Know when to make the call

    Ideally, a correct course of action will emerge during the debating process, but sometimes, the picture is unclear. In such cases, someone needs to make the final call. Every debate needs a referee.

    Judgment calls can be challenging. They require experience, expertise and a deep understanding of the situation. You won’t always get them right, but you must have the courage to make them.

    Just don’t confuse courage with pride. There’s no place for “because I said so” leadership in an organization that values productive disagreement. Command-and-control cultures are inimical to innovation. I encourage my leaders to unpack the reasoning behind their decisions to build trust and ensure that decisions are made in the team’s and company’s best interests.

    Related: 3 Ways to Use Conflict to Strengthen Your Startup

    7. Commit (and commit to revisit)

    This brings us back to Bezos: Once a decision is reached, the team must commit completely to the course of action. By encouraging team members to commit to a decision, even if they disagree, a company can move forward and take risks that ultimately lead to growth and success.

    When a small team of Amazon executives initially proposed the Amazon Prime program, it faced steep internal opposition over cost and potential risks. Bezos called on critics to commit despite their reservations, and today, Prime is a key driver of Amazon’s growth.

    But it’s also important to analyze the effectiveness of major decisions at regular intervals. For example, after much deliberation, we’ve recently selected a go-to-market strategy for our new GitOps product. We will continue asking tough questions each quarter to ensure we’re on the right track.

    It’s not easy creating and sustaining a company culture that encourages rigorous debate within the parameters of company goals and values. But it’s the only choice for innovative companies juggling high-stakes decisions. As CEOs, we must set the table and lead the charge.

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    Jyoti Bansal

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  • When workers are an employer’s No. 1 priority, stockholders benefit too

    When workers are an employer’s No. 1 priority, stockholders benefit too

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    The deep uncertainty that the COVID pandemic created in the workforce hasn’t waned. U.S. workers are struggling with inflation, burnout, and fresh waves of layoffs. This comes as people expect more from employers — more leadership, more urgency, more action, and better jobs.

    The public’s perspective is clear and consistent: companies need to prioritize their employees. In today’s unstable economic climate, worker wages and treatment are more important to Americans than ever.

    When it comes to creating U.S. jobs with strong wages, good benefits, safe environments and opportunities for upward mobility, a handful of companies lead the pack.

    Bank of America
    BAC,
    NVIDIA
    NVDA
    and Microsoft
    MSFT
    are the top-three companies in JUST Capital’s 2023 rankings of America’s most JUST companies. They all share one crucial thing in common — a clear commitment to addressing worker issues and investing in employees.

    Since 2018, JUST Capital’s rankings have provided a snapshot of how U.S. companies are measuring up to the public’s priorities, as determined through an annual survey to identify issues that define principled business behavior. Companies that are just provide a clear benefit for investors. For example, If an investor purchased an index tracking the JUST 100 companies at its March 2019 inception, the index would have generated 13.3% in excess return versus the Russell 1000 as of December 2022.

    Worker issues have risen to the forefront of Americans’ vision for what is a just business. Paying a fair and living wage, supporting workforce advancement, protecting worker health and safety, and providing benefits and work-life balance are top priorities for the public. Notably, regardless of demographic differences including political affiliation, Americans agree that companies should do more to address worker needs. 

    What makes a great company?

    Bank of America demonstrates strong leadership on the top priority — paying a fair, living wage – by raising its minimum wage to $22 per hour, a key step in its pledge to offer a $25 starting wage by 2025. In addition, employees receive an extensive benefit package, including 16 weeks of paid parental leave for primary- and secondary caregivers, and career development opportunities through tuition assistance and professional training.

    NVIDIA works to ensure equal pay for equal work, performing detailed pay equity analyses, and is one of only a few companies to disclose pay-analysis results separated by racial and ethnic categories. Like Bank of America, NVIDIA is one of 10% of Russell 1000
    RUI
    companies that offer at least 12 weeks of paid parental leave for both caregivers, providing 22 weeks of paid leave to primary caregivers.

    Microsoft offers at least 12 weeks of parental leave for both caregivers, in addition many other generous paid-time-off benefits, including 15 days of paid vacation and an additional 10 days of paid sick leave for every worker — a policy still rare for many companies. Additionally, Microsoft discloses the results of its pay-equity analyses, going above and beyond other companies by disaggregating pay ratios for specific racial and ethnic categories — including Black, Asian and Latinx — all of whom are paid on par with their white counterparts.

    “ When companies ensure the economic security, advancement, equity and safety of their workforces, employees are more engaged and productive. ”

    These efforts provide tangible benefits to employees, but prioritizing workers offers much more to companies than just an assurance of moral good. When companies ensure the economic security, advancement, equity, and safety of their workforces employees are more engaged and productive, strengthening their companies’ business in turn.

    Americans expect the private sector to better support employees. Effective business leadership today puts workers at the center of an organization’s strategy. When businesses take this approach, we get much closer to an economy that works for all Americans.

    Alison Omens is chief strategy officer at JUST Capital. 

    Also read: Tech companies are hiring — a lot — despite recent wave of layoffs

    More: Unemployment rate is now 3.5%. Is this the last chance for job switchers to jump ship?

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  • 3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One | Entrepreneur

    3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Employee turnover is a serious problem that can have a significant impact on an organization’s success. It not only leads to a loss of productivity and knowledge but also has financial implications. However, turnover is not just a symptom of a revolving door of employees. It’s often a symptom of deeper issues that employers need to address.

    Here are three of the biggest reasons why employees quit — and what employers can do about it:

    Related: 7 Ways to Retain Employees

    Bad management

    A good manager can make all the difference in employee job satisfaction. A supportive, communicative and invested manager can create a sense of belonging and purpose for their employees. On the other hand, a distant, unresponsive and critical manager can make even the most enjoyable job unbearable.

    According to a Gallup poll, only one in ten people have the necessary skills to manage others effectively. Employers must invest in good management training and promote from within to reduce turnover and improve overall morale. By providing managers with the skills and traits necessary to be effective leaders, employers can create a more positive work environment, reduce stress and increase productivity.

    The importance of good management cannot be overstated. Studies show that the relationship between an employee and their manager is one of the most significant predictors of job satisfaction and retention. In fact, according to a survey by Harvard Business Review, 58% of employees said that they would trust a stranger more than their own boss.

    Effective communication is one of the key traits of a good manager. Clear and concise communication can help to avoid misunderstandings, increase transparency and create a culture of trust. Managers should also be approachable and receptive to feedback from their employees. By creating an open and inclusive environment, they can help employees feel valued and supported.

    Inflation, cost of living, income

    Another major reason why people quit their jobs is financial concerns. As the cost of living increases, wages may not keep up with inflation, and employees may feel that they can no longer afford to stay in their current job. While salary isn’t the only factor in job satisfaction, it’s certainly an important one.

    Addressing this issue means regularly reviewing their compensation packages and adjusting salaries to ensure they remain competitive. Offering benefits such as healthcare, retirement plans and paid time off can also help to improve overall job satisfaction and retention.

    Employers should be aware that employees may be looking for other opportunities if they feel that their compensation is not competitive or if they are not receiving fair compensation for their work. In today’s job market, employees have access to a wealth of information about salaries and benefits. This means that employers who fail to offer competitive compensation packages are at a higher risk of losing their top talent to other companies.

    Related: How Employee Retention is Impacted by Various Leadership Styles

    Drinking the kool-aid vs. being in love

    Lastly, employees may quit their jobs because they feel they need to be more fulfilled or connected to their work. This can happen when employees feel they’re just “checking the box” or going through the motions, without any sense of purpose or fulfillment.

    Similarly, employees may become disillusioned when they realize they’re not passionate about the product or service they’re selling. They may feel like they’re just promoting something they don’t believe in.

    Fostering a sense of purpose and meaning can build trust between you and your employees. This is achieved by regularly communicating the company’s mission and values — and by providing opportunities for them to get involved in meaningful projects and initiatives. When they feel connected to the company’s mission and values, they’re more likely to be engaged and motivated to stay with the company.

    The reasons why people quit their jobs are not trivial matters. Employers must take a critical approach to these issues, recognizing that they have a significant impact on their organization’s success. By investing in good management, addressing financial concerns and fostering a sense of purpose and meaning in their work, employers can reduce turnover and improve overall job satisfaction.

    Employers who take a proactive approach to reduce employee turnover are more likely to retain their top talent, which can lead to improved productivity, increased innovation and a stronger reputation in the market. In today’s competitive business environment, companies that fail to invest in their employees and their work environment risk losing their competitive edge.

    Reducing employee turnover requires a holistic approach that addresses the underlying reasons why people quit their jobs. By taking steps to improve management practices, address financial concerns and foster a sense of purpose and meaning in the work employees do, employers can create a workplace that attracts and retains top talent. This not only benefits the company but also benefits the employees who feel valued and fulfilled in their work.

    Related: From the Great Resignation to Quiet Quitting, Here’s Why Good People are Really Leaving and How to Keep Them.

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    Roy Dekel

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  • Why People-Focused Leaders Are Crucial to Overcoming a Recession | Entrepreneur

    Why People-Focused Leaders Are Crucial to Overcoming a Recession | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As economists and financial leaders continue to debate the possibility of an economic recession in 2023, there is little doubt this hot topic is creating a great sense of uncertainty for businesses and a disruption in the workforce. While companies are likely focused on continuing operations, workers are on edge for professional and personal reasons, leading to distracted employees and reduced performance that affects the bottom line.

    Although economic indicators fluctuate, and recession forecasts are ever-changing, savvy business leaders understand the unwavering foundation of their business is people – a company’s greatest asset. Successful leaders emphasize taking care of their people — in good times and bad — to stay the course, leverage opportunities and weather any storms, leading to more resilient companies anchored by an engaged, secure workforce.

    Below are three ways people-focused business leaders can address recessionary concerns to make employees feel safe.

    1. Practice clear communication

    In a world of 24-hour news cycles filled with dynamic views about a recession, it is not surprising that employees may feel confused and concerned about the economy and their employer’s stability. Human nature dictates that workers will naturally rely on those they trust. They look to leaders for clear communication, guidance, reassurance and a path forward to help alleviate any fears.

    While practicing clear communication is key in all business situations, it is even more critical during times of uncertainty, which employers and employees are all too familiar given the last three years. Prior communication strategies serve as a solid knowledge base to inform current decision-making tactics.

    Leaders should consider what worked, what didn’t and areas for improvement. Frequent, clear and consistent communication throughout the company can help to reinforce the company’s position and its vision forward. Hence, employees feel secure and free to focus on the tasks at hand. For example, acknowledging recessionary concerns and sharing insights through CEO video messages/all-employee meetings, manager updates during team meetings with time for employee Q&As and relevant content/links posted on the intranet are ways for leaders to keep workers informed and to help them feel more secure.

    Related: 3 Steps to Help Employees Understand Your Objectives and Expectations

    2. Promote  the  culture

    A strong corporate culture can be a differentiating factor during uncertain times because employees need to feel supported and cared for by their work family, providing a critical sense of belonging that leads to camaraderie and a united front as everyone faces the possibility of an economic recession together. Therefore, promoting the culture by reinforcing existing policies, programs and benefits, or creating new ones, should be top of mind for business leaders.

    When leaders make a concerted effort to understand employee wants and needs regarding particular situations – similar to offering more flexible scheduling during the pandemic – it can go a long way toward cultivating an environment in which employees feel appreciated and leads to a confident, engaged workforce.

    For example, many employee assistance programs (EAPs) offer access to financial resources, mental health and well-being programs, and personal or professional guidance free of charge to employees and family members. Another way to support employees is through financial wellness programs that delve into developing a budget, reducing debt, understanding credit and saving for college or retirement, which can help employees gain more confidence in managing their finances.

    Related: How Leaders Should Think About Employee Benefits

    3. Offer unique financial perks

    Although the economy is uncertain, the still-tight labor market is a valid concern for many organizations. Therefore, offering unique financial perks is one way to attract and retain top talent. When employers think outside of the box by providing benefits to help ease employees’ financial burdens, it not only acknowledges economic concerns but also demonstrates empathy because leaders understand what it is like to feel financial stressors.

    There are numerous ways companies can provide financial assistance to support employees while standing out as a great workplace. For example, employers might consider offering employees lump-sum financial benefits workers can use at their discretion for groceries, gas, elder/child care, utilities and other living expenses. Additional areas to consider are assistance with student loan repayments, tuition reimbursement, access to short-term loans and company match on 401(k) accounts. When employers go above and beyond to address financial issues, employees take notice and realize business leaders have their best interests at heart.

    As business leaders face the possibility of a recession, their number one priority should be taking care of their people — the lifeblood of a company’s existence — to help ensure they feel informed, supported and secure in the workplace.

    Related: Employee Perks Might Not Be As Effective As You Think They Are

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    Steve Arizpe

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  • How to Take Better Care of Your Employees’ Mental Health | Entrepreneur

    How to Take Better Care of Your Employees’ Mental Health | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The mark of a good leader is not how well she or he navigates the good times, as that is easy. It’s during the tough times that leaders demonstrate and instill confidence that their organization’s vision and mission are stronger and that they will emerge better and stronger.

    As leaders have obligations to their organization’s board and customers, they also have obligations to their employees and to make transitions as smooth as possible — particularly if they value retaining and attracting new talent. A recent survey found that 66% of workers said that the recent waves of layoffs have made them lose trust in the stability and security of full-time employment, and 62% said that it’s made them feel less secure committing to one employer.

    It’s no secret that the mass layoffs that have been occurring across industries can have a negative impact on the mental health of workers across industries. Losing one’s job induces feelings of vulnerability and low self-esteem, which could potentially evolve into depression and desperation. And the late challenges of inflation and recession can increase feelings of stress and anxiety.

    Related: How to Improve Mental Wellness in the Workplace

    The workplace could and should support mental health by providing a means of sustenance, a sense of purpose and a community where people can share ideas and work towards a common goal. But in these challenging times, it can also be a risk. According to the World Health Organization, depression and anxiety cost the global economy $1 trillion annually in lost productivity and an estimated 12 billion working days every year.

    Unthinkable decisions must be made to create new efficiencies, mitigate risk, work more efficiently and reposition a business during times of extreme difficulty. But at the end of the day, we’re all human, and even in business, it’s not just about communication efficiencies, empathy and transparency. That’s the foundation of our company, and it’s what real leaders instill in their teams.

    If you’re experiencing these challenging times, here are some ways to handle tough decisions and ensure you take care of your employees and their mental health.

    Lead with compassion

    If you’ve ever been in a position where you’ve had to cut people from your teams, you know what it feels like to suffer together. Ours is a company that’s based on relationships. Our independent distributors foster trusting relationships with their customers and their teams in order to be successful. Our corporate team is no different, and it’s one of the things that makes companies like ours so wonderfully unique.

    Leading with compassion fosters more loyalty, employee engagement and collaboration. During the difficult times, communicating with employees with compassion will make for an easier transition.

    Related: What Leaders Get Wrong About Mental Health

    Communicate transparently

    Transparency is the best, and in my opinion, the only way to approach your employees during times of change. And it is for this reason that open and honest communication is integral. In fact, a recent report by Axios HQ around workplace communications in 2023 found that operational changes are the first, most critical updates employees want to know about. So, whether communicating by email, video or an all-company town hall, leaders should feel obliged to be honest and open about the change in company operations.

    Helping your employees understand the risks the company faces and why and how decisions are being made can foster mutual respect and offer a greater sense of understanding. After all, employees can be your company’s best ambassadors; whether they are staying or leaving, you want them to know that your organization did everything it could to look out for everyone.

    Treat people with dignity

    One of the best ways to safeguard a person’s mental health when they receive bad news is to maintain their self-respect and self-esteem. Acknowledge the contributions they make, and do what you can to help them make transitions in their career, with packages, referrals or other reasonable resources.

    Life is a journey — whether it’s in our personal life or business, it’s never a straight one. During adversity, we face challenges, but by overcoming these challenges, we create opportunities to come out stronger and better than ever.

    This shift in the workplace is a time to refresh, look for and streamline new processes, problem-solve, scale sustainably and evolve. Figure out how your organization can make a bigger impact on its community. If you’re a leader making tough choices for your organization, never forget that how you show up is important, because people are watching.

    Related: Low-Cost Mental Health Strategies That Yield Big Results for Company Revenue and Employee Happiness

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    Ibi Montesino

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  • 3 Key Insights on Retaining Quality Talent | Entrepreneur

    3 Key Insights on Retaining Quality Talent | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Building a successful business comes with a myriad of challenges, but I’ll argue that retaining amazing staff over long periods of time is in the top three … but not for me.

    In 2022, about 50.5 million Americans quit their jobs, which was 2.7 million more than the number of Americans quitting in 2021, the U.S. Bureau of Labor Statistics (BLS) reported. But even more shocking is the fact that both 2021 and 2022 were record-breaking years respectively, seeing the highest numbers of quits in history since the BLS started tracking the figure back in 2001. These are the years economists are calling the “Great Resignation.”

    So, how does a business owner achieve the goal of attracting and keeping the best talent amidst these nationwide quitting trends?

    When I started my business, PostcardMania, my tiny team was made up of three people I trusted to help make my dream a reality — an assistant, a designer and a salesperson. My current president, Melissa Bradshaw, started out as my assistant at the early age of 19 in 1998 and now runs the core operations of my company. She has worked in almost every department at PostcardMania and is an incredible leader and friend.

    Selecting the right people is incredibly important, and it’s one of the reasons we have been able to increase our staff retention year over year — by 5% from 2021 to 2022. We even increased the number of people working long-term at PostcardMania (for five years or more) by 12%. And last but not least, we increased retention in our sales department — an area with notoriously higher turnover — by 15% last year.

    While reflecting on my 25-year journey of growing a three-person team to a 350-member team, three insights stand out to me as the ultimate keys to retaining quality talent. Follow them, and I bet you’ll witness a rise in overall employee happiness and a decrease in turnover.

    Related: Employee Retention: 4 Tips to Help Keep Your Top Talent

    1. Develop a mission statement for your business, and hire those who truly believe in it

    Arguably the most famous walk-out scene in cinema history is in Jerry Maguire, which is based on real-life sports agent Leigh Steinberg. In the movie, Jerry writes an impassioned, 25-page mission statement for the company he works for, Sports Management International, and then sends it to every employee.

    While the majority of staff applaud his work, it ends up getting him fired. As Jerry walks out of the office, he says he is going to start his own company and asks if anyone is willing to come with him to create something “…real, fun and inspiring.” He leaves with one person and a goldfish.

    Even though many of Jerry’s coworkers said they believed in his mission to focus on people first, only one of them took action and walked away.

    Do your current employees truly believe in your company’s mission statement, or are they just sitting in their chair for a reliable paycheck? Do you even have a mission statement or purpose?

    And I don’t mean something like this: “We provide the best customer service,” or “Our product is better than our competitor’s.”

    A mission statement should reach beyond just your business to encompass something that can benefit others — humankind, the planet, etc. — in a deep and meaningful way. This will help distinguish your business from a sea of other employers so that you aren’t competing on pay, benefits and other work incentives alone.

    At PostcardMania, our mission is to be the absolute best at helping small businesses master their marketing and achieve success so that they can grow, which in turn leads to more jobs and more money in our local communities — and it also strengthens our national economy. That is our company’s greater purpose, and we prioritize hiring people who truly believe in it.

    Whatever your mission is, make it clear and inspiring. Then ask candidates when they apply why they want to work for you and if they care about fulfilling that mission.

    I think Jerry Maguire nailed it when he said, “The key to this business is personal relationships.” Focus on building a loyal team of people who believe in what you are accomplishing, and they’ll stick with you for years, even decades, of their lives.

    Related: 3 Ways Leaders Can Boost Employee Retention

    2. Promote from within to ensure staff have something to strive for

    Even if your employees believe in your mission, they still may not stay if there isn’t room for growth in their careers. Giving your staff as many opportunities as possible to get promoted or learn a new role will give them incentive to stay.

    In 2022, we promoted 91 staff members to either manager roles or higher-paying positions, and 19 current employees were promoted to managers — we didn’t hire a single new manager; they were all internal promotions.

    First and foremost, I promote internally. Why? Because hard work should always be rewarded, and investing in your current employees will pay off in the long run. Plus, it’s just smart — they already know all about the company!

    You can accomplish this by following these steps:

    Analyze your staff’s strengths and weaknesses and leverage them to facilitate effective team management:

    A good starting point is to review every staff member’s role and then identify how that person can use their strengths to grow that particular role and overcome any weaknesses. It could be that the individual isn’t truly right for that role and needs to move into another area, they could need more training, or their tasks might need to be restructured to enact more efficiency. Let the individual know what they can do in order to succeed in their job, and a good team member will take steps to be better.

    Create new roles that team members can move into if needed, and always announce new internal promotions:

    Your employees may not even know they can get promoted. Show them they have the opportunity to move up by announcing promotions within the company and applauding everyone for their hard work. You can also tell them that you are willing to create a new managerial role for them if they work toward certain goals.

    Devise a step-by-step system that trains workers into managers:

    What does it take for your staff members to get promoted? Do they know what they need to do? I suggest creating a “pathway to management” course that employees are free to take and outlines for them exactly what it takes to enter a supervisory role. We did this a few years ago, and it’s great! It tells us who is truly interested in moving up! People don’t know what they don’t know, so make every opportunity for success available to them, and then it will be fully up to them to take it or not.

    Related: Why a Positive Company Culture Is the Key to Employee Retention

    3. Create a work environment that prioritizes praise and eliminates office politics

    One of the main reasons I started my own business was because I wanted to create a happy and healthy work environment where there was zero office politics and zero negative chatter. You may be doubtful that achieving this is even possible, but I created a Zero Office Politics Policy at my company, and I enforce it diligently.

    Basically, the policy is that employees are expected to be kind to others and work out conflicts directly as quickly as possible without office gossip or backstabbing behavior. The result has been nothing short of incredible as I have watched over the years as new and old employees show gratitude for creating a workplace that is drama-free.

    Not only have my employees shared with me how good it feels to come to work without office politics, but they also often admit how unappreciated they felt in their former jobs. Their bosses never once said, “Good job!” or “I appreciate you on our team.” Showing appreciation for your employees regularly is another key point to retaining staff. It doesn’t take a lot of time or effort, yet it can be easy to forget amongst the everyday hubbub of owning and running your own business.

    According to a Pew Research Center study, 57% of Americans quit their jobs in 2021 because they felt disrespected at work. Respect starts with valuing a person for their talents and capabilities and then showing it.

    Whether the employee is a star player or a work in progress, you can always find something that deserves praise. A simple “Hey, you did amazing on that project” could be the difference between whether the employee comes to work happy or miserable.

    Appreciation also doesn’t have to stay within the manager/employee relationship either. Give all of your staff opportunities to show appreciation for their coworkers, too! We set aside 15 minutes at our weekly company meeting to allow anyone to share accolades of the week. Some folks are shy about speaking in front of the group, so we encourage them to email their positive comments if that’s the case, and I read them aloud to the group.

    Verbal accolades are just the start, too. Develop a reward system where hard work results in gift cards, free lunches or other prizes.

    I asked my public relations director, who has been at the company for 13 years, why she has stayed, and she said, “It boils down to really responsive, open and caring management. I’ve never felt like I couldn’t discuss something with my boss, and it was nice to come into a positive and comfortable work atmosphere every day.” Your staff spend the majority of their lives at your company, so creating a positive, not oppressive, work environment is crucial to overall employee happiness.

    At the end of the day, if someone does decide to walk out of your company with their briefcase and a goldfish, at least you can say you did everything within your power to make their experience at your company rewarding and worthwhile.

    What do you think makes the biggest difference in employee retention? I hope you gained some insight from my experience as a business owner and try using these tactics in your workplace. Keep testing out different methods, ask for feedback, and never stop investing in the people who hang their hat at your business.

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    Joy Gendusa

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  • How to Lead With Authenticity and Build a Thriving Workplace | Entrepreneur

    How to Lead With Authenticity and Build a Thriving Workplace | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As leaders, it’s our responsibility to create environments that promote productivity, innovation and growth. What if we were to take this a step further and prioritize personal fulfillment as well? A workplace culture that promotes openness and transparency encourages employee satisfaction, which in turn fosters excellence and efficiency. As such, following this approach can take us much further than the traditional mindset.

    As a woman in a male-dominated industry, I faced significant challenges early in my career, with people often dismissing my opinions, actions and decisions as emotional or irrational. I learned that to be taken seriously, I had to mask my authentic self. So, I spent years teaching myself to hide my feelings, personality and passions, as I was made to believe this was the only way to get ahead. Granted, it worked, but as I gained more experience and moved up the ranks, I realized this culture was deeply flawed, regardless of how (unfortunately) common it is.

    Related: Authentic Leadership: What Is It and Why is it Important?

    The key to building a thriving workplace

    With experience, I came to realize that the key to building a thriving workplace is authenticity: an approach rooted in trust, allowing individuals to build relationships based on openness, honesty and being their true selves while actively enabling work-life integration.

    Work-life integration is based on the idea that work and life aren’t separate, but rather, that professional responsibilities, family life, hobbies and personal development can be interwoven in a way that supports and enhances our overall well-being. It suggests a holistic approach to managing work and life, where the boundaries between the two are blurred, and the focus is on creating fulfillment and balance overall.

    This approach prioritizes the well-being of individuals, inspiring them to embrace their true selves and creating a positive energy that drives collaboration, innovation, creativity and productivity. Even more so, it encourages loyalty and commitment among employees, which benefits us, our companies and our employees in the long run.

    The bottom line is simple: Employees who love going to work wake up feeling excited about their day and ultimately, as a result, drive success for the business.

    With these ideas in mind, I used principles of authentic leadership and work-life integration to create a culture that allows employees to be authentic without fear of judgment. I’m proud to say that my team has thrived under this approach, with proven increased engagement, job satisfaction and productivity.

    This all sounds great in theory, but how does it actually work?

    Related: 3 Ways Authentic Leaders Inspire and Retain Employees

    How to create this type of culture

    To bring this approach to life, you have to start with yourself. Authentic leadership is based on a leader’s ability to be honest, transparent and real with their employees while encouraging the reciprocation of these principles. Below are some tips on how you can do just that, with the goal of fostering a workplace culture similar to the one I’ve created:

    1. Lead by example: Model authenticity by being vulnerable and sharing your experiences/emotions with your team. By leading with honesty and promoting transparency, you can create an environment where team members feel comfortable and are empowered to share their own perspectives.

    2. Create a safe space: Encourage a culture where critique is seen as an opportunity for growth by actively seeking feedback. Foster open communication and encourage your team to be transparent and honest with one another, including you. Authenticity goes both ways, meaning you’ll sometimes receive feedback you don’t want to hear; when that happens, put your ego aside and let go of the “I’m the boss, they can’t talk to me that way!!” mentality as it won’t serve you and will only deter your team from being transparent with you.

    3. Provide growth opportunities: Invest in employee growth and development to show that you value your team. Provide training, mentorship and career growth opportunities or a pool of learning resources (i.e., online learning platforms). Don’t skimp on the time spent on learning and development, as this investment will pay off in improved employee retention and satisfaction while creating a culture that values learning and innovation, driving success for the company as a whole.

    4. Foster a healthy work-life integration: Offer flexibility, remote work options and paid time off to avoid burnout. Accept, expect and accommodate the realities of personal life as they are inevitable. Don’t make employees waste time explaining personal commitments or apologizing for external factors during virtual meetings, rather allow them to address them and return to work with renewed focus. Life will go on, with or without the stress, so choose “without” by normalizing work-life integration instead of encouraging worry or fear of judgment when personal life overlaps with work.

    5. Build authentic relationships: If this doesn’t come naturally to you, actively invest in your relationships with your team members by engaging in conversations that strengthen your interest in their lives and well-being to develop trust, respect and empathy. Recognize that your team is your greatest asset, and create a culture where they can feel cared for. Within my team, this approach resulted in great friendships forming, boosting both engagement and collaboration.

    Related: CEO Survival Guide: Leading with Authenticity, Transparency and Trust

    While this approach can bring about incredible outcomes for businesses, it doesn’t come without implications, such as the possible challenge of putting your personal feelings aside to remain professional and objective; this can be especially tricky when you’re faced with making tough decisions involving your team.

    To avoid being blindsided, it’s essential to anticipate the potential impact of personal biases, prepare for them and take steps to reduce their impact. True authentic leaders make decisions based on objective analysis, recognizing and remaining aware of their strengths, weaknesses, values and beliefs. They use these insights to guide decision-making rather than cloud it, allowing them to make more thoughtful and effective decisions than they would otherwise.

    By leveraging both the benefits and implications of the authentic leadership approach, you can promote an environment where both individuals and companies can thrive in building a positive, supportive and fulfilling workplace. After all, we spend a significant portion of our lives at work, so why not spend it happily?

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    Adi Vaxman

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  • What the Rise and Fall of Crypto Can Teach Us About Managing Distributed Teams | Entrepreneur

    What the Rise and Fall of Crypto Can Teach Us About Managing Distributed Teams | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The crypto industry has had a very exciting and tumultuous run over the past decade. Major corporations were founded using blockchain technology, and the promise of Web3 created a market currently valued at $2.86 billion.

    While many look at the 2022 crypto bust as a strictly monetary pit of doom, there are some very interesting distributed team management lessons to take away from the industry’s six-year bull run. Decentralized autonomous organizations (DAO) presented a new way to organize teams, new blockchain tools sprung up to enable greater collaboration, and the crypto boom proved that caffeine-fueled nerds can execute common ideas in ways that even Wall Street had trouble understanding.

    Despite the misfallings of the Web3 market, you shouldn’t write these accomplishments off as Web3 fairy dust. Business leaders and innovation-minded entrepreneurs should take note of the outlined workflows and processes that supported the Web3 growth of the last six years. Whether you believe in the underlying technology or not, these lessons provide insights on what entrepreneurs can replicate in the ever-evolving dynamics of team management.

    Related: How DAOS Are Changing Leadership

    What is a DAO?

    One of the most interesting things to come out of the crypto boom — in terms of team management — is the Decentralized Autonomous Organization (DAO). A DAO is a democratized organizational structure running on the blockchain network. It is a collective of like-minded people with a shared financial account, working on a shared goal. It is similar to a digital cooperative, but instead of having select leaders on the board, every member has voting rights. DAOs can have equal governance for each member or weighted votes depending on how many tokens each member holds.

    This type of organization presented a new way to organize and manage distributed teams around the world. It utilizes an automated and democratic system that blockchain technology can provide. Let’s dive into some of the management lessons from crypto and Web3 companies, especially DAOs, that can be applied outside the blockchain industry.

    Managing fractional workers

    DAOs succeeded in bringing together thousands (even hundreds of thousands) of anonymous people to achieve a common goal. While this isn’t a realistic or necessary goal for traditional organizations, business leaders can learn a lot about managing fractional workers in the future of work.

    Web3 startups led the industry’s growth vs. established enterprises because they were able to scale up and down easily to rapidly meet the demands of the market. Outside of the Web3 industry, every business is contending more and more with disruptive technologies. You can’t expect your competition to give you six months to build a new team in order to capitalize on a new trend, you need to be able to act quickly.

    Project-based or fractional hiring is a way to rapidly scale to meet new demands while also attracting top talent that is interested in working on a challenging project and doesn’t want to get tied into a long-term agreement.

    Related: How DAOs Can Transform the Business World

    Leveraging peer-to-peer recognition

    Peer-to-peer (P2P) recognition is super important in distributed and remote teams for helping to build culture and accountability and act as an incentive driver beyond monetary compensation.

    Web3 companies did this really well because all data and transactions are publicly recorded on the blockchain and can be accessed by everyone. This ensured all recognition was public, inclusive and decentralized. P2P recognition could also be tied into incentive programs, which leveraged social and monetary recognition. Blockchains and smart contracts go hand-in-hand in promoting transparency and efficiency in governance and management that elicits trust from its members and community. However, every organization can endeavor to become more transparent with their employees and with the public.

    Non-Web3 companies should endeavor to create a similarly transparent and public P2P recognition program. One study found that when an employee is recognized once per month, their employee engagement increases by 43%.

    Offering shared ownership

    Engaging employees and making them feel that they have some ownership in the project is another big driver in the future of work. DAOs achieved this because every member of the DAO was literally invested in the organization. Many companies also experimented with NFTs as a way to unlock benefits or as a reward containing a unique value that is aligned with the brand’s vision, mission and strategy.

    Companies can align their incentives for teams by looking at both the interests of team members and the goals and objectives of the organization. Examples of this can be profit sharing, equity ownership or performance-based incentive or benefit.

    However, monetary incentives aren’t the only way to offer shared ownership. They aren’t even the most important.

    It is more important for today’s workers to feel like they have a voice and some stake in the game. Including employees in the decision-making process (especially during product ideation) and ensuring there is transparency in decision-making goes a long way toward making employees feel included and engaged.

    Distributed decision-making

    Beyond engagement and ownership, distributed decision-making is simply better decision-making. Good leadership involves giving up sole ownership over decisions and valuing inputs from team members, which can lead to better decisions. This concept is built into the structure of a DAO as it directly applies the inputs and votes of all members in the decision-making process.

    Even without DAO, businesses can adopt DAO-inspired procedures such as decentralized and democratic governance that can create a culture of collaboration that empowers distributed teams to be more effective and productive. Distributed decision-making allows you to scale and react faster by leveraging diverse backgrounds and inputs, A/B testing ideas quickly and getting feedback from larger groups.

    Consider adopting a democratized organization, either by gathering smaller teams with like-minded members to achieve certain goals or even company-wide, to forward a singular mission or objective and include team members who believe in the same principles.

    Related: 4 Reasons Decentralized Business Management Is Booming

    We aren’t recommending your organization make the switch to becoming fully decentralized. One of the big things that we see coming in the future for organizational management is the idea of hybrid DAOs, where there’s a melding between traditional business structure supplemented with DAO mechanics.

    While the massive growth of the crypto and Web3 industry changed considerably last year, the principles used to reach those heights are valuable for any organization. Blockchain technology isn’t going anywhere, and companies will have to deal with a much more automated, agile and transparent marketplace full of disruptors going forward. Whether your venture uses blockchain or not, these principles will help you compete in an increasingly decentralized world.

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    Cory Hymel

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  • 5 Ways to Successfully Encourage, Empower and Engage Your Team | Entrepreneur

    5 Ways to Successfully Encourage, Empower and Engage Your Team | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When I was growing up, I often heard the phrase, “don’t let that get to your head” when someone was given a compliment for something they did well. I even got in the habit of curbing my own “big-headedness” by downplaying my achievements. I’d say or think things like, “it’s not a big deal” or “I’m just doing my job” to combat the fear of growing too big a head. If you aren’t sure what I’m talking about, I mean the ego, the “I am.” That ol’, mysterious ego.

    Here’s the thing: This is much more than just ego. What I’m talking about is encouragement and how to foster that necessary part of us — all of us. I wonder sometimes how I might be different if I was allowed to let a few things “get to my head.” I wonder: Where would I be, and how would my career look if I got a little big-headed early on? And while there’s no going back (if you have or know of a time-travel machine, please let me know because I need to say something to my third-grade teacher), there’s always the going forward part that I prefer to focus on.

    As professional leaders, we have an obligation to build up the people around us. We want them to be stronger, and we want them to grow. Leaders cannot just direct others around like a herd of sheep. And yes, sheep have their place in this world, but leaders should be more like the captain of a ship. They are in charge and respected but leave room for everyone else to do their jobs and to do them well, or the ship goes down. Is this an easy task? Depends on how you see yourself — but I don’t have time for that! I do have time, however, to share my thoughts on how to empower, encourage and engage your team:

    Related: 25 Ways to Lead, Inspire and Motivate Your Team to Greatness

    1. Compliment your team often

    Tell them they’ve done something well. Congratulate them on a big win. Say it out loud or in an email —and do this all the time. What happens when you reward people with words only leads to a more motivated team. And they’ll continue to do their jobs well.

    2. Ask for clarification and an explanation of what they’re doing

    Ask questions, and pay attention to what your team is doing. How can this help? When people are asked to explain something that they’re either learning or processing, it can actually help them grasp the concept even better. When this exchange is done, it creates a teachable moment for everyone involved — including you, the leader.

    3. Let them play with fire

    Here’s the good news: Not everything will burn down if you give your team some freedom to play with fire. The other good news: Eventually your team will learn not to get burned (just like a two-year-old who touches a hot stove. It’s an a-ha kind of moment). No one likes the feeling of making a mistake, getting reminded or scolded for something they’re still learning. But when you allow your team to get close to the fire, be sure to let them know you’re also there to help with the burn. They’ll be better for it, and you might even learn something about yourself, too.

    Related: 8 Ways to Motivate Employees Into an Unstoppable Team

    4. Demand opinions

    When you’re making changes that will affect others, or if you’re deciding on something that will involve your team, get into the habit of asking for their input rather than just assuming everyone is going along with your one-person show because they’re too afraid to voice their opinion. Take a look at your company culture. Does everyone just agree with you? Has anyone ever said, “Hey, how about this?” I can assure you, though they don’t say it to your face, your employees definitely have opinions. Make an effort to open them up. True transparency cuts both ways. It may even involve a few cuts to your ego (see what I did there?), but it is worth it in the long run.

    5. Walk away

    Leave the room! This one’s for you, micromanagers. Allow your team to learn to lead without you hovering over them. Let them show integrity for the work they’re doing. After you’ve asked their opinions and let them explain how they work, leave the nest. If you have a strong company culture, you can be certain that if they have any questions, they’ll be open and honest and unafraid to come to you to ask. If you’re concerned that your proverbial office walls are too small for all the future big heads, then make more room. There’s plenty of space.

    So, remember to compliment your team often — words of encouragement go a long way. Ask for explanations, because when they explain, they also learn. Let them play with fire so that they can learn from their mistakes. Demand opinions, because true transparency gives way to honesty and trust. And finally, leave the room — don’t micromanage. Following these tips will help you to successfully encourage, empower and engage your team.

    Related: 4 Leadership Methods for Empowering Employees and Building Strong Teams

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    DeAnna Spoerl

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  • Do You Know What Your Team Needs? Here’s How to Find Out. | Entrepreneur

    Do You Know What Your Team Needs? Here’s How to Find Out. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Do you really know what your team needs? You may sometimes struggle to determine what motivates your team and how this affects their performance. The good news is that simple techniques give you a pretty good idea of what makes your employees tick. Here are five simple ways to find out what your team needs.

    1. Look for the telltale signs

    If you are unsure what your team needs, look for the telltale signs. Are they working long hours? Are they stressed? Are they not participating in office talks? Are they complaining about something in particular? If so, it might be time to take a closer look at what’s going on with your team.

    It’s important to remember that every team is different, and many factors contribute to each person’s happiness on the job — which means you need to figure out what makes each tick.

    Related: To Build a Strong Team, You Need to Address All of Your Employees’ Needs

    2. Take a pulse check

    One of the best ways to know if you have a healthy team is to take a pulse check. Set aside time for a team meeting, and ask each member to share what’s going well and what isn’t. It’s important not to criticize but rather listen and ask questions that help your team members share their perspectives without feeling like they are being judged or criticized.

    And then, take a look at what’s happening in your organization right now, and ask yourself: What do we need right now? Then, think about how that need was met in the past; if it wasn’t met, why not? If it was, how did it happen?

    Once you’ve done this introspection, you’ll have a clearer picture of your team’s needs and why they need it. This will help guide your next steps — whether hiring new people or making changes within existing roles — and help keep everyone on track with their goals!

    3. Look at your metrics

    You can’t figure out what your team needs if you don’t know how they perform. That’s why looking at metrics is so important. You can track things like employee churn and productivity, which will help you understand the strengths and weaknesses of your team.

    If you want to try this out, here are some quick tips:

    • Figure out which metrics are important to your business and how to measure them

    • Set up a system for tracking the data regularly

    • Make sure everyone knows about it

    Related: Your Employees Want to Be Heard — Listen to the Details That Matter

    4. Listen to cues

    Your team might not be the most vocal bunch, but if you pay attention to their behavior, you can learn much about what they need from you. If you’re constantly getting interrupted or having trouble getting your team to complete their tasks, it could be that they’re feeling overwhelmed. If they’re always late to meetings or don’t seem like they’ve got their heads in the game, it could be that they need more direction.

    Whatever the case, listen to cues and try to address them with empathy and compassion.

    5. Create a culture of feedback

    It’s important to provide your team with clear, constructive feedback that helps them grow and improve. However, it’s equally important to allow them to give you feedback on how they feel about their work and what they need to be more successful.

    One way you can do this is by creating a culture where it’s okay for people to share their thoughts — and not just when things go wrong. You might start by encouraging everyone to give feedback on each other’s ideas and projects or even just ask for direct feedback every day at the end of meetings or strategic points throughout the project cycle.

    You can also create an open forum where people can anonymously share their concerns or ideas. The key here is creating an environment where people feel comfortable sharing their thoughts and feelings, so they know they’ll be heard and respected no matter what they say!

    Related: How to Motivate Your Team Members by Putting Their Needs First

    Well, well, well, if you’ve made it to the end of this article, then you must be serious about being a great leader. And let me tell you, great leaders don’t just assume they know what their team needs — they take the time to find out.

    By implementing the five strategies outlined in this article — listening, observing, asking, testing and reflecting — you’ll be well on your way to understanding the unique needs and desires of each member of your team. And when you can meet those needs, you’ll be able to create a workplace culture that fosters growth, productivity and overall happiness.

    So, to all the bosses out there, stop thinking you know it all, and start taking action to truly understand your team. By doing so, you’ll earn their respect, trust, and loyalty — and that’s the ultimate power move.

    And never forget: The best teams have strong dialogue, rapport and trust. Because when team members know their goals and challenges, they can adjust their behaviors accordingly to meet their expectations.

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    Chris Kille

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  • 5 Steps to Implement the Ideal Hybrid Work Model | Entrepreneur

    5 Steps to Implement the Ideal Hybrid Work Model | Entrepreneur

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    Hybrid work — a mix of in-office and out-of-office work — is not a new development. In the ’90s, we had cell phones; then, in the 2000s, we had Blackberries to easily facilitate frantic out-of-office emailing.

    But post-pandemic, “hybrid work” has taken on a new significance, with most employees expecting some possibility of working remotely, where that is feasible.

    Here, I want to take some time to unpack the different ways that an organization might introduce a hybrid work model and highlight some ways in which companies might make better strategic hybrid work decisions.

    Related: Making Hybrid Models Work Is No Longer a Luxury – It’s a Necessity

    Why go hybrid?

    Over the years, the productivity and efficiency benefits of remote work have become clear. All the way back in 2013, a controlled study led by Stanford Economist, Nicholas Bloom, demonstrated a productivity increase of 13% due to remote work; in 2021, an Owl Labs State of Hybrid Work study reported a 25% reduction in employee turnover due to remote work; finally, a new study demonstrates that an average 45 minutes of the daily time savings from working from home are invested right back into the business.

    That said, 100% remote isn’t feasible for all businesses and business functions: A 2021 Jabra study showed a clear preference for the traditional office when it comes to collaborative work, presentations and onboarding. To that, I would add that face-to-face client interaction, and specialized tools/infrastructure can be important reasons to have employees in the office at times.

    Given the benefits of both remote and in-office work, it is clear that some form of hybrid work is the way forward for many organizations. So, what’s the best way of arranging this? Below I will go through some popular hybrid work models and highlight where these have been useful to particular organizations.

    It’s worth observing that hybrid working arrangements usually relate to where the work occurs. But it is also common to combine hybrid work arrangements with flexibility about when and how work occurs. For example, hybrid work can be combined with “flex time” (employees being able to decide when they start and finish work, within reason) and “async work” (being able to work without constantly checking in with other team members and managers).

    1. Remote-first

    In a remote-first business, remote work is the default. Most employees will work remotely, most of the time. But remote-first doesn’t mean “remote only.” Many businesses that default to remote work may still allow in-office work. For one thing, many employees actively prefer to go into the office some of the time.

    Spotify adopted a remote-first model with its “work from anywhere” policy, promoting remote work, while still retaining physical office space and paying for co-working space for employees that seek to work in-office. At Horizons, we have adopted a remote-first policy as well, if employees wish. We also have regular regional meetups to bring our distributed team together. We find this provides a good balance between remote flexibility and in-person collaboration.

    Related: Is Your Hybrid Model Working? Use These Success Metrics to Find Out.

    2. Remote-friendly

    A remote-friendly business is supportive of remote work, but remote work may not be the default. A remote-friendly business allows remote work on certain days of the week, for certain teams or on a discretionary basis. Companies that have recently implemented this include Apple (three days per week in the office), and Microsoft — the kind of arrangement applied by Apple and Microsoft is also known as “split days” hybrid work.

    Remote-friendly is the preferred model for businesses that have a strong need for in-person collaboration.

    3. Split-team

    In a split-team hybrid approach, some of the workforce are permitted to work remotely, while others are required to come into the office. While this may make sense from a job-function perspective (some work is more feasibly carried out remotely than other work), it also risks creating a perception of unfairness: Some in-office employees may be upset that they have no say in the matter — according to a 2022 Gallup report, only 6% of employees who could work remotely would prefer to be entirely in-office.

    Related: 5 Tips to Make Your Hybrid Work Model More Effective

    How to make your hybrid work decision

    Given the variety of ways in which you can implement hybrid work, how should you go about deciding which model is right for you? I suggest the following steps:

    1. Make remote work flexibility the default assumption in workforce planning. No matter what the needs of your business are, the evidence is clear that employees value the option to work remotely.

    2. Decide which essential business functions, if any, need to be done in person. There is an element of subjectivity to this. Companies like Apple have decided this is crucial for the creative element of their work. For others, it may be about responding to a clientele that expects in-person meetings.

    3. Work out the best way of dividing work between in-person and remote elements. Split-team or split-days are possibilities, but it is also possible that primarily remote work with semi-regular in-person meetings/events will suffice.

    4. Incorporate your approach to remote work into a written remote work policy that employees have access to. This ensures that there is transparency and that a fair approach is taken.

    5. Check in regularly with employees to see how current hybrid work arrangements are working out. This should occur both in organization-wide employee wellness surveys and one-on-ones with team leads.

    There is no one-size-fits-all approach to hybrid work, and most of us adopting hybrid are, by necessity, experimenting as we go. While the benefits of hybrid work are clear, every company needs to look to its own business needs and processes and find the appropriate balance between flexibility for employees and in-office efficiency.

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    Antoine Boquen

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  • How to Effectively Lead Through Uncertain Financial Times | Entrepreneur

    How to Effectively Lead Through Uncertain Financial Times | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Uncertainty is not unusual in business. In fact, it can be seen as one of the defining features of life as a business leader. Indeed, the combination of domestic issues — from inflation to supply chain disruptions — and global tensions suggests that the level of uncertainty is likely to remain high over the coming years.

    According to KPMG’s 2022 CEO Outlook, which speaks to CEOs about their current and future strategies, 86% of these global company leaders anticipate a recession to hit in the next year, and 71% expect the recession to cause a 10% shift in earnings. With uncertainty looking more certain than ever, how can leaders begin to get a grip on future business challenges?

    Related: How Startups and Investors Can Thrive in the Current Economic Environment

    How is economic uncertainty affecting how leaders plan for 2023?

    The first thing affecting leaders right now is the fact that they exist and work within a “poly-crisis,” facing numerous challenges to their profitability and security at once. Operating in crisis mode inevitably affects a leader’s ability to plan ahead and adapt to changes in a business environment.

    Many businesses already had to make significant changes to their organizational, operational and financial structures in order to survive. These businesses face extra challenges now while high prices, tightening monetary policy and weak demand persists — with 90% of economists predicting that tempered demand will be a significant drain on business activity.

    A knock-on effect of this period of crisis has been an increase in anxiety around work, performance and money among employees. Leaders are not immune from this stress, but the pressure is high to remain calm in order to retain the best employees. And yet, any attempt at stasis is likely to be thwarted when organizational restructuring necessitates layoffs and downsizing.

    The implication for business leaders is that they need to be more flexible in adapting their strategies. In fact, even large firms need to think more like smaller startups, which focus on agility to survive and thrive. Alongside lingering anxieties and monetary restrictions, leaders face new obstacles left over from the Great Resignation and Reshuffling. The move to remote-hybrid work environments means that leaders’ usual methods of making decisions are no longer available to them. They need to find much more resilience and adaptability in order to lead through uncertainty.

    All of these factors will be especially impactful for startups and smaller businesses. Newer businesses may not have even established a status quo of reliable processes before the pandemic hit; now, they need to raise their baby in a recession.

    As leaders try to navigate growing their businesses and retaining their teams, what should they be focusing on in early 2023? Here are three considerations to keep in mind:

    1. Reaffirm the purpose of the organization

    When leading a startup, a sense of purpose is vital. Leaders may begin by describing how their ideas are going to make a dent in the universe and why they matter in an attempt to instill this into the organization and create a purpose-driven business.

    Leaders should ask themselves and their teams: “What do we offer the world that no one else can deliver? What is our reason for being?” Bringing clarity to purpose will strengthen the bonds between teammates and re-center people’s vision on the horizon rather than on the chaos that surrounds them.

    According to a recent survey by Deloitte, 43% of surveyed business leaders said their company views organizational purpose exclusively as a marketing and brand play. That’s not the smartest approach, as customers aren’t satisfied when companies speak empty words about purpose. They expect to see action.

    Related: 6 Key Tips for Leading Transparently in Economic Uncertainty

    2. Build trust by celebrating integrity

    Integrity should be the last quality to fall by the wayside when times get tough, but it’s often one of the first. Integrity can be incredibly motivating; it can inspire a team and keeps members focused on what is important.

    If leaders make promises they will be unlikely to keep, short-term wins will be overshadowed by long-term damage to trust. Both integrity and transparency should enhance trust in leadership, which is important if the organization is heading into the unknown.

    According to Deloitte’s The Future of Trust report (2021), “trustworthy companies outperform non-trustworthy companies by 2.5 times, and 88% of customers who highly trust a brand will buy again from that brand. Furthermore, employees’ trust in their leaders improves job performance, job satisfaction and commitment to the organization and its mission.”

    3. Don’t forget the positives

    When challenges abound and the world seems chaotic and uncertain, leaders can often get stuck in a negative thinking pattern. This, coupled with the calamity language of news programs and social media, can be devastating for employees’ anxiety levels.

    In a 2022 study by the American Psychological Association, 73% of people from the United States who participated in the study reported being overwhelmed by the number of crises happening in the world. Nearly nine out of 10 participants also reported that they felt crises had been occurring in a constant stream.

    Leaders will be wise to remember that optimism is still valid and possible. Highlight that times will get better, eventually. Offer some assurance that there is light at the end of the tunnel.

    Economic uncertainty, which continues to unfold and evolve, has the potential to derail even the largest and most well-organized companies. For smaller companies and startups, uncertainty can be destructive and formative at the same time. It’s their nemesis and the water they swim in. Leaders need to be able to incorporate uncertainty into their futurecasting to grow despite the obstacles it presents.

    Related: How to Prepare Your Business For Economic Downturn

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    Markus Baer

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  • How to Prepare for Unforeseen Problems in Your Business | Entrepreneur

    How to Prepare for Unforeseen Problems in Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Preparation is an investment, and it will be your greatest ally when issues come up in your business. Business will always have a human element, and because there is no perfect human, it’s guaranteed that businesses will encounter unforeseen problems.

    The best way you can solve these problems is not to be reactive after the issue takes root, but to be proactive by preparing for these problems in advance. Here are some of the actions I’ve witnessed in my own business that not only helped keep things running smoothly when hurdles came up but even helped to bypass issues entirely and ensure the success of our business.

    Related: 5 Effective Ways to Prepare for the Unexpected

    1. Pair starters with finishers

    One of the unexpected difficulties as a business leader is being strategic in how you formulate your teams. Not only does a team’s chemistry come down to background and personalities, but the effectiveness of a team is determined by the skills of the people paired together. Some people are great starters — they are always willing to step up to bat and take on extra responsibilities. They’re not afraid of an increased workload. However, because of their nature, they could struggle with finishing projects, or they could be spread too thin to follow through.

    On the flip side, while finishers won’t be the first to raise their hand at taking on an extra workload, they excel at following up and following through. They’re the people who are great at executing and making sure a project is completed by a deadline. Rather than punishing starters and finishers in the areas that need improvement, an effective business leader will pair starters with finishers on a team. This takes time and observation to get to know your employees and how they work, but it makes the perfect recipe to avoid problems down the road.

    2. End meetings with an action item

    Meetings aren’t effective if they don’t have a solid structure to follow. We noticed a lack of measurable progress coming out of meetings at our own business. I realized we needed to be more intentional with these meetings, so we formulated a plan: Cut the meetings to 30 minutes maximum, assign one person to lead the meeting, and assign another person to email a summary afterward.

    The most important change we implemented? Each meeting needed to end with one action item to make the business a little bit better. The action item needed a timeline and designation about who would be responsible for the action item. We didn’t restrict them on what the action item needed to be — the action item could make the business run more profitably, make a process faster or smooth out a recurring issue.

    This was when we started to see notable improvement coming from these meetings, and it’s one of the most proactive measures we’ve taken in anticipating possible problems in the business.

    Related: How to Prepare for an Unexpected, Unwanted and Unwelcome Business Setback

    3. Provide clear guidelines and benchmarks for your employees

    Create a culture around winning. People feel good when they accomplish things, so it’s your job to ensure there’s a structure for getting the work done. For every position you create, outline responsibilities and guidelines that fall upon the employee, and establish benchmarks that will help measure your employee’s accomplishments and growth. Clarify what skills and requirements it takes to get the job done in the job description, and make sure they have a robust understanding of this when they start the job.

    Connect regularly with employees, and give them feedback on how they’re performing compared to the job requirements. You could use metrics like sales numbers, customer satisfaction, the scope or quality of a project’s completion or how well they respond to deadlines. Highlight their wins, and emphasize what they’re doing well.

    People want to get things done simply because it makes them feel good; develop a winning culture by setting reasonable expectations instead of repeatedly dumping tasks on your employees without clear guidelines.

    4. Keep open transparency and communication with your team

    The single most important thing any business can do to prepare for unforeseen problems is to keep a clear line of communication open. Ask your employees, “what can I do better? How can I make your job easier?” Be open to criticism and willing to act on what they say.

    Odds are, this will make your employees more willing to listen and accept criticism from you. If you’re showing them you want to improve for their sake, they’ll do the same for you. The entire business will function better if everyone is helping each other strive to be the best they can be for the improvement of the company.

    Consider asking your employees: Are they in a role that they enjoy? Are they spread too thin to perform? Being transparent in your communication will help take your business to the next level by fixing existing problems and avoiding future issues simultaneously.

    Related: 4 Ways to Prepare Now so Your Business Survives the Unexpected Later

    Preparing for unforeseen problems is a critical aspect to running a successful business. No matter how well-funded your business is and how well-rounded your systems and processes are, unexpected challenges will come up.

    Anticipate growth and potential problems by rethinking how you run meetings, being intentional in how you formulate teams, and providing clear guidelines and communication with your employees. If you’ve pre-scaled for growth, you’ll confidently navigate these hurdles.

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    Trevor Cowley

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  • 4 Ways to Build a More Adaptable, Resilient Culture | Entrepreneur

    4 Ways to Build a More Adaptable, Resilient Culture | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Why did some employees handle the Covid-19 crisis better than others? According to Deloitte, the employees who coped better with rapid change worked for companies that promoted key ingredients of adaptability, such as empowered decision-making.

    This isn’t a surprise: Companies with adaptive cultures consistently rise to the top of the leaderboard. Take Amazon, for example. Since its inception, the ecommerce giant has consistently adapted to fluctuating markets and consumer preferences, introducing new products and services to stay ahead of the competition.

    Related: Success Is the Biggest Benefit of Being Adaptable

    Your business can also create a culture characterized by openness, respect, collaboration, creativity, innovation and pragmatic risk-taking. However, you might encounter some challenges. Changing a culture takes time and effort, not to mention a great deal of patience. You may need to modify your responses and choices to set an example. After all, it’s easier for people to demonstrate resilience if they see a good role model in leadership.

    Regardless of any initial hurdles, creating an adaptable culture makes sense. We’re in an era of rampant industry disruption where digital transformation is critical for survival. Without an inherently adaptable culture, it’s almost impossible to respond quickly to dynamic changes from inside or outside your organization.

    To begin your company’s journey toward adaptability, try the following strategies:

    1. Highlight your company’s vision and mission to encourage strategic risk-taking

    A culture can only become adaptable once everyone works from the same playbook. Our company’s leaders routinely discuss the business’s overarching vision and mission. This ensures our North Star guides our team members’ efforts.

    Providing clarity around goals also helps our employees feel comfortable making mistakes. They know that even if something flops, they won’t experience retribution or harsh judgment as long as they’ve acted in earnest based on the company mission.

    Refrain from assuming all workers understand your mission and vision statements just because they’re documented on your website. You have to talk about them during coaching sessions, performance one-on-ones and companywide meetings. Repetition isn’t overkill in this instance; it’s necessary to shape everyone’s attitudes toward change.

    Related: How to Establish a Vision Statement Employees Will Get Behind

    2. Solve any collaboration or communication bottlenecks

    In order to create a culture of adaptability, you must ensure team members are on the same page. If they aren’t communicating and collaborating, your company can’t adjust quickly to take advantage of new opportunities. So, give employees the tools to form easy connections with their peers.

    This is especially important if you have remote or hybrid workers on staff. According to Owl Labs research, 70% of virtual workers find it challenging to contribute during video meetings, and 62% say their employers haven’t upgraded their technology systems or equipment to make collaboration more seamless.

    The fastest way to identify and solve communication gaps is to send out a questionnaire. Identify where the bottlenecks are for your workers, and then troubleshoot to resolve them. Side note: Remember that you must also adjust your communication habits. Your team members will feel less compelled to speak their minds if you aren’t forthright and approachable. And speaking up is critical to improving your workplace adaptability.

    3. Give and receive feedback in a healthy, compassionate way

    You want your team members to flex their innovative thinking. Yet, they might be reluctant to give their honest opinions without a bit of prodding. If you want people to be vulnerable and share their ideas, you need to ask for feedback and then react to it in a healthy, compassionate way.

    For example, if someone disagrees with you, resist the temptation to take it as a personal affront. Instead, listen to what the other person says. Show respect and gratitude. You might still decide to go ahead with your original plan. However, your team will see that you took a dissenting idea seriously.

    When it comes to providing feedback, make sure what you say is specific and helpful. Your employees will become more resilient if they get constructive feedback meant to make their work easier or help them be more productive and successful. What’s more, a Harvard Business School survey shows that 71% of executives say adaptability is the most critical leadership quality. By helping your team members make self-improvements through change, you set them up for future promotions.

    Related: How Entrepreneurs Can Use Effective Feedback to Stay Resilient and Agile

    4. Set SMART goals around building an adaptable culture

    By now, you’ve probably heard of specific, measurable, achievable, realistic and time-bound (aka SMART) goals. Setting these kinds of goals allows everyone to gauge where they’ve been, where they are and where they’re going.

    What SMART goals could you set around building an adaptable culture? Consider ones that relate to the creation of new ideas, workflows, products and services. Be sure to set these goals alongside your team members. Collaborative goal-setting promotes a greater sense of urgency around completion.

    Not all goals need to be productivity-driven, either. Celebrating successes or mistakes can be a goal, too. You can learn a lot from failure, which is why successful organizations — including Pixar — reward employees for taking thoughtful risks, according to McKinsey & Company. Imagine how your culture would change if more employees leveraged losses to promote learning-fueled momentum toward business goals.

    Adaptable cultures are cultures built to survive. If you lack adaptability across your organization, try these four tips to help weather future industry disruption.

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    Eric Watkins

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  • 8 Leadership Skills That Seem Obvious But Still Aren’t Being Practiced | Entrepreneur

    8 Leadership Skills That Seem Obvious But Still Aren’t Being Practiced | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Leadership is a vital and all-encompassing skill set for professionals at various levels, whether you have a C-suite title or are just starting to climb the corporate ladder. However, it takes more than just ambition and experience to be an effective strategic leader.

    In addition to having the necessary technical skills and knowledge, business leaders must also possess specific qualities that will enable them to inspire and motivate others, make smart decisions and navigate complex business environments.

    While some lucky people are born to lead, most of us need to make an effort to strengthen these qualities through practice. In fact, only 10% of people are considered natural leaders, and an additional 20% are considered skilled enough that they have potential to become high-quality leaders. So, unfortunately, most professionals are working against the odds if they want to become influential leaders.

    Related: Master These 5 Leadership Skills to Increase Your Results Tenfold

    As of 2023, only 48% of employees consider their organization’s leadership to be high-quality, mostly due to the lack of investment in leadership-building initiatives. This doesn’t mean it’s impossible to be an impactful leader. With the right training and dedication, CEOs can polish these qualities and improve their rank as a leader.

    If you are new to the C-suite or aspire to be there within the next five years, my advice as an experienced CEO is that you start working on developing the following qualities now:

    1. Visionary thinking

    CEOs are responsible for setting the direction and long-term goals of their organization. A key leadership quality, therefore, is the ability to think big and envision the future. To have a clear and compelling vision of where they want to take the company, leaders must be ambitious, imaginative and unafraid to take risks. At the same time, they must be able to plan realistically based on given circumstances and understand that turning vision into reality is a step-by-step process.

    Leaders who can manifest this type of innovative mindset are better able to anticipate trends and changes in their industries and develop strategies that help their organizations stay ahead of the curve. They are skilled at thinking beyond the immediate challenges and considering the long-term goals and objectives that will ensure strong performance and progress. Visionary leaders are also better able to inspire their teams, build trust and create an environment where everyone is encouraged to contribute to the company’s big-picture success.

    2. Strategic decision-making

    Business leaders are responsible for making strategic decisions that will guide their organization toward success. This means that they must be able to analyze complex information, weigh the pros and cons of various options and make decisions that are in the best interest of the company. Strategic decision-making is a crucial leadership quality that requires a combination of analytical skills, business acumen and emotional intelligence.

    3. Adaptability

    If there is anything we’ve learned over the past few years, it’s that any unforeseen event can disrupt the world as we know it at any time. Businesses were forced to halt completely and reassess everything amid the global pandemic in 2020, and several never recovered. This was not due to a lack of effort, but because most businesses were ill-equipped to deal with something so drastic and unexpected.

    Leaders who were able to adapt quickly were able to mitigate the impact of the pandemic and even thrive in some cases. Similarly, changes in consumer behavior, technological advancements and political and economic uncertainty can all require leaders to adapt their approaches. By being adaptable, organizations can navigate through these changes and emerge stronger. This requires not only a willingness to pivot but also a mindset of continuous learning and improvement, as well as the ability to lead and motivate teams through change.

    Related: How to Quickly Adapt to Change and Future-Proof Your Business

    4. Emotional intelligence

    As a CEO who has managed over 1,500 people during my career thus far, I can tell you that emotional intelligence is a game-changer when it comes to connecting with your employees. It’s also the most difficult quality on my list to influence. Some leaders have it, some don’t. Those who have it are better able to build impactful relationships that drive unity and alignment among a team.

    The ability to cultivate emotional intelligence as a strategic leader encompasses other vital skills — including self-awareness, empathy, and social skills — to enable leaders to build a culture of trust, collaboration and innovation within their organization. By being attuned to the emotions and perspectives of others, leaders can foster a positive and supportive work environment and be better at managing conflicts by navigating interpersonal dynamics to find win-win solutions.

    Of course, understanding others is only part of the relationship-building equation. The other part is the ability to appeal to others with effective communication, which I’ll discuss next.

    5. Effective communication

    Ideally, an organization is aligned by its leader’s ability to clearly communicate the organization’s values and goals to employees, stakeholders and customers. Leaders should be able to take their vision and distill its complexities into simple, easy-to-understand strategies for their team so that all employees know what goals they are working toward and why.

    Unlike emotional intelligence, communication can be easily improved with practice. I believe it starts with listening. Encouraging employee feedback and acknowledging their ideas and opinions shows employees that their input is important to the company’s success. As the leader, you can benefit from this feedback loop by practicing both 1:1 and 1:many communication habits, while learning how to appropriately respond to both positive and negative feedback. The communication loop that results from an open dialogue is sure to prompt stronger relationships and improved business performance.

    6. Accountability

    CEOs are ultimately responsible for the success or failure of their organization. This means that they must take accountability for their decisions and actions, and they must be willing to accept the consequences of their choices. Leaders who can take ownership of their mistakes and failures — and learn from them — are more likely to earn the trust and respect of their team members and stakeholders.

    Accountability is a trait that becomes more effective when cascaded from the top down, so it must start with the leader. In a fast-paced and well-oiled organization, all team members should be held accountable for their actions and responsibilities. I emphasize this to help fuel a culture that values transparency, teamwork and productivity. Granting employees ownership of their priorities and tasks reiterates that their contributions matter to the success of the company and motivates them to put in the work to exceed expectations.

    Related: 5 Keys to Promoting Accountability in Your Business

    7. Team-building

    Building a successful team is not only about hiring the right people — it’s about creating a culture that will make your employees excited to work there. At Align, all new hires must go through at least three rounds of interviews with multiple team members to ensure they are a good culture fit and that the other employees can envision them working well together.

    A strong team is the foundation for any successful organization, and it is the responsibility of the CEO to facilitate team-building activities and establish clear goals and expectations for the team. A CEO who values team-building demonstrates a commitment to creating a positive work environment where team members feel valued, supported and motivated to do their best.

    Additionally, team-building can help identify the strengths and weaknesses of team members, which can be leveraged to create a more cohesive and effective unit. Ultimately, team-building is not just a one-time event, but an ongoing process that requires continuous effort and attention from the CEO to ensure that the team remains aligned.

    8. Strategic networking

    Networking is essential for all professionals, regardless of having a C-suite status. While face-to-face connections are ideal, the great thing about networking in 2023 is that you can essentially do it from your couch or home office. LinkedIn is a great hub for like-minded professionals if you can find the right groups to join. Also, joining local business organizations and attending both in-person and virtual networking events can help grow your network substantially. These are ways to connect with other business leaders, share insights and build relationships with potential customers, partners, investors and mentors.

    Ultimately, my job as a CEO is to provide my team with the resources and experience they need to succeed, and strategic leadership is at the root of it all. With the right guidance from the top down, CEOs have the power to drive change in their organizations that help pave a brighter future for the company and its people.

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    Doug Walner

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  • The Benefits of Creating an Employee Communication App | Entrepreneur

    The Benefits of Creating an Employee Communication App | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As the winter of 98′ drew to a close, a stormy night ensued. There was a crash among the trees. It was windy to the point where it was howling. I was tucked into bed and startled awake by a noise. A sound that altered the course of history. When I finally beat my dad’s 6110’s snake game, I couldn’t believe it.

    And there, ladies and gents, is how I first began my trip into the world of app interaction.

    While apps have been around for some time, they are thankfully one of the few things that will not be going away any time soon. Over time, they’ve figured out how to reliably become a part of our routines and earn their place as an indispensable part of society. Didn’t see the game last night? YouTube is your best friend. Do you need a taxi? Uber’s got your back. Have you run out of food? Fresh Direct is here to deliver it.

    Related: #4 Go-to Apps to Boost Your Company’s Internal Communication

    Exploring the communication-ship

    Remember when a friend suggested you create an internal communication app for your company, but you thought the suggestion was too cliche and decided not to act on it?

    Think again: He was correct.

    Don’t mind me, I just wrote that in my diary last night. However, allow me to explain why he was correct.

    Communication is key. I’m sure we can all think of situations in our own lives where better communication would have prevented undue stress and friction. If you’ve come to that conclusion, then you’ve successfully onboarded the ship for better communication. But don’t just stand on the deck, let me show you around the ship’s various chambers, the most crucial of which is the engine room.

    Why you should consider getting an internal communication app for your company

    It facilitates easier access to data:

    All information should be readily available, simple to comprehend, and most importantly, delivered to its target audience. Can you think of a situation when someone didn’t “get the message” and hence failed to follow instructions? It doesn’t matter where you are or what time it is, you can always get to your apps using your mobile device. With just a few taps, you can reach all of your employees and convey whatever message you choose. You can see who received, opened and responded to your announcement, and you can return to it at any time.

    Time is saved, information is provided more efficiently, and employees have less trouble carrying out their work because of how smoothly the process flows.

    Boost your capacity to bond with your staff:

    If sending an email is like sending your child out to play with his friends, then sending an employee a direct message is like taking your child out for a game of catch, just the two of you. It creates a bond, fosters trust and takes you closer to the recipient. It will boost their confidence and self-esteem, which will ultimately benefit you. Your staff can immediately respond to your posts by liking, commenting or replying.

    Deskless workers are on the Rise

    Do you realize that about 80% of workers don’t have their own office? I know! That’s a rather big sum. The number of people working in healthcare, transportation, manufacturing, education, food service, emergency services, and building and maintenance makes this a logical conclusion. Making an employee communication app is a no-brainer if you work in agriculture, education, healthcare, construction, hospitality or transportation — all of which rely heavily on effective communication.

    Related: Why Effective Internal Communication is Critical to an Organization’s Well-Being

    Why do employers stray away from the idea of an employee communication app?

    It’s not exactly a secret why: Creating an app is time-consuming and expensive. But here’s the catch: No, it doesn’t need to be that way! For the simple reason that the no-code movement is also growing in popularity these days. Because of the advent of no-code platforms, nowadays, it’s possible to build a fully functional native staff communication app for your company in under an hour for under a hundred dollars, with all the hard work of programming already completed for you.

    No work can be done without employee communication; using a third-party app to do so when you can build your own staff communication app is analogous to renting a duplex when you have enough money to buy your own. With no-code app builders, you can create a communication app with a few clicks and less than a hundred dollars, so what’s your excuse?

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    Omar El Bahr

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  • Here’s How a Lack of Inclusivity Can Create a Toxic Culture | Entrepreneur

    Here’s How a Lack of Inclusivity Can Create a Toxic Culture | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    MIT Sloan found that employee perception of company culture is ten times more predictive of attrition and turnover than compensation. The message from that research is clear: Employees don’t want to work in a toxic company culture.

    But what exactly is a toxic culture? Most of us tend to think of it as something so extreme that it couldn’t possibly describe our organization or us as leaders.

    However, one often-overlooked factor plays a bigger role than many suspect: inclusivity. Laura Wronski found that workers who are satisfied with their company’s efforts on DEI issues are actually happier with their jobs. A toxic culture, conversely, is often one in which employees don’t feel their voice is heard. In fact, more than half of the employees who left organizations during the recent Great Resignation did so for that reason.

    Clearly, inclusion is becoming a priority for employees. And it needs to be a priority for companies, too. We can’t hide our corporate culture anymore in this world of online reviews. If the candidates we’re trying to recruit are searching for information about our culture — and at least 70% are — they’ll quickly find it.

    Company culture is one of the most difficult things to change. Yet, effective change in the area of inclusivity is achievable for any company from startup to Fortune 500 … if they know where to start.

    Related: Why You Need to Become an Inclusive Leader (and How to Do It)

    Developing the skills for inclusivity

    As it turns out, two-thirds of all leaders hold an inaccurate view of their own inclusive leadership capabilities. This causes a myriad of problems.

    On one end of the spectrum, a third of leaders do not feel skilled in the area of inclusion, many of whom succumb to the temptation to do nothing. They’re afraid they might do more harm than good by stepping out of their comfort zone.

    Alternatively, they may want to be inclusive, but they don’t know where to start. Consequently, they may not prioritize inclusion in their own leadership approach, much less attempt to lead a company-wide effort. In such cases, well-designed learning and/or coaching can help them gain enough confidence in their own skills to begin taking steps that characterize an inclusive leadership style.

    However, a leader can’t address a lack of inclusivity in their organization if they don’t know it exists. Such is the case when there’s an “Inclusion Delusion.”

    Combatting the “Inclusion Delusion”

    The other third of those who hold an inaccurate view of their inclusive capabilities skew in the opposite direction, thinking they’re more inclusive than they really are, as rated by colleagues and reports.

    This is a complex phenomenon referred to as the “Inclusion Delusion,” where tendencies for leaders to over- or underestimate their inclusivity capabilities create perceptual vulnerabilities in how they see and express leadership. Similar to how the tendency to overestimate one’s driving skills can create trouble, this perception gap poses a barrier to companies in creating an inclusive culture. One reason for this is that leaders who see themselves as more inclusive than they really are may not recognize the impetus to change, improve or learn to behave differently.

    Closing this perception gap requires a healthy dose of self-awareness and input from others in the form of data. For some leaders, getting that data might be as simple as asking direct reports questions in one-on-one interviews, such as: “To what degree would you say we’re an inclusive work environment?”

    This, however, requires a high degree of trust and openness. If employees think the wrong answer might be held against them, they may not answer honestly, perpetuating the delusion. In that case, it might require a more formal evaluation or anonymized input, conducted internally or by a training partner.

    Related: How to Create a More Inclusive Workplace

    In devising such an evaluation, remember that inclusiveness is not an inborn trait — it’s a skill that can be grown and measured. In developing my own assessment method, I evolved the approach from one that asked “Am I inclusive or not?” to one that asks “What are my strengths and stretches when it comes to being an inclusive leader?” Then I broke that question down into granular behaviors that can be observed and mapped to specific competencies proven to move organizations toward an inclusive culture, such as:

    • Openness to divergent ideas, perspectives and processes

    • Flexibility to change opinions, plans or decisions based on those ideas

    • Curiosity to seek out the perspectives of many others, not simply a select few

    • Humility to acknowledge one’s limitations, vulnerabilities and tendencies

    • Active self-management of one’s biases

    • Empathy to seek to understand others’ thoughts, feelings and experiences

    An approach based on observed behaviors empowers leaders by taking them out of their own heads. It’s no longer about how much they may want to be inclusive or how inclusive they feel they are — it’s about how much others perceive that they are modeling inclusive behavior. And I find that by looking at inclusion through this lens of outward behavior, leaders are often a degree more self-critical. This, in turn, creates a highly effective opening for discussion, self-awareness and the leader in the driver’s seat of their own growth.

    Inclusion starts at top leadership

    I’ll write in future posts about how creating an inclusive culture involves addressing inclusion at various organizational levels. Suffice it to say, however, that none of it will make a difference if top leadership does not fully embrace inclusivity in their day-to-day interactions.

    And let’s be clear: Even those who aren’t in the “inclusion deluded” category still have perceptual vulnerabilities when it comes to inclusive leadership.

    To compound the challenge, organizations are not directly supporting leaders as much as they need to. Only 1 in 3 organizations as of 2021 were designing a strategy to develop inclusive leaders.

    Consequently, many leaders silently flounder as they attempt to increase inclusivity in their organizations. They may earnestly intend to be inclusive, but in leadership, it’s not our intentions that count — it’s our behavior.

    By following an assessment-based approach designed to help leaders identify their inclusivity perception gaps, along with a skills-based approach that allows them to develop inclusivity competencies (where they personally need them most), leaders can align their behaviors with their intentions. And in doing so, they lay the foundation for a truly inclusive culture within their organizations.

    Related: 4 Commitments All Inclusive Leaders Must Follow

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    Rachel Cubas-Wilkinson

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