19 minute read
Thought Leaders
Leading by example, one opinion, one idea, one lesson at a time, our thought leaders are significant in the Leicester and Leicestershire business scene.
With authority in their field of expertise, passion for sharing ideas, and commitment to helping others, they’ve been asked to express their most current brainwaves in print.
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Selected organisations and individuals share how and why they go about their business, reveal their ambitions, provide clarity on matters within their industry, educate on complex or novel subjects, inspire with their forwardthinking and progressive perspectives, or look backwards to evaluate what’s been learnt.
Got something you’d like to see our team of thought leaders cover? Send your topics of interest to kerry@crossproductions.co.uk.
Krupa Joshi-Bhatt
What it means to thrive rather than survive
The voluntary, community and social enterprise (VCSE) sector needs to collaborate and work better together, now more than ever. This was clearly evident from the conversations at our recent Future Focus event. With partners from the health sector, charity sector, and business community, everyone seemed to be singing from the same hymn sheet. But how can this be implemented successfully?
This is where Voluntary Action Leicestershire (VAL) play a vital role. As part of this work, VAL relaunched their VCS manifesto which will identify priority areas for the sector and hold the sector accountable to ensure they progress partnership opportunities to thrive rather than survive.
So, what do we mean by ‘thrive rather than survive’?
The VCSE organisations that we support run on a shoestring budget, delivering one month at a time, with little understanding or confidence to think about the longer term strategy and plan. During conversations at our event, we identified some key areas that are essential to ensure the sector thrives instead of merely surviving. This includes peer support networks to strengthen leadership and share best practices, a more businesslike approach to encourage financial independence, easier access to information and data through localised research, increased collaboration, partnership and cohesion amongst groups and organisations providing similar or complementary services, and greater resilience and adaptability accounting for different eventualities and safeguarding services, service users and staff.
As a reputed community asset, VAL’s role historically has been to provide opportunities for all of the above, however, with reducing resources and staff, priorities have leaned towards survival rather than encouraging discussions and planning around the long term vision for organisations. Following the event, it is apparent that the sector and wider partners are enthusiastic to have these conversations and VAL will be pivoting their focus to facilitate this work.
Rik Pancholi
Managing Director at Pattersons Commercial Law
What do you value?
Iwas introduced to a new client who was in the process of selling their business and wanted me to meet their chairman. Their chairman is very experienced in buying and selling businesses. This was however the very first time that the CEO had been in this position and so wanted to be sure that when they were interviewing a handful of lawyers that they were speaking to the right one.
When I asked what they both valued as they go through this process, the chairman told me that he had been through this process many times and so understands the legal process, the documentation, and the structure. It was therefore of more value for the CEO to understand what was happening, have his The important point is that this concept and principle applies through all areas of professional services and not just to lawyers
hand held through the transaction, and be guided by someone whose advice he values and trusts.
Whilst value-for-money was important, the service and client care was arguably more important on the basis that he’d never done this before. I agreed to be there when needed, be the lawyer to trust and deliver great value for money. This seemed all pretty standard to me and nothing out of the ordinary – I pride myself in doing a great job and I’ll agree to do the same thing with the next potential client.
The important point is that this concept and principle applies through all areas of professional services and not just to lawyers.
So, what do you value the most?
Darren Willoughby
Managing Director at 2XL Commercial Finance
New premises… the time to buy could be now!
There is much discussion about home working and whether a return to the office is imminent. For some, getting back to the office can’t come soon enough. For others, the ability to work from home has come as a welcome respite from the long slog into the office. The last 18 months – which has included home schooling, Covid risk, and now a fuel crisis – has meant, for many, a better work-life balance.
Whilst some may advocate that working from home is now the future, it’s clear for many that isn’t possible and for lots of business owners in hospitality, manufacturing, and many other businesses who need premises, this could now be the moment to strike in terms of purchasing new premises.
The furlough deadline has passed and now government loans that have been taken out will start to bite, but for those who have weathered the storm and are looking to grow and establish their business, there couldn’t be a better time to grab a possible bargain as landlords look to offload in light of many voids and ‘cash in their chips’.
For those wanting to acquire premises instead of renting, the below illustrates what could be achievable.
A quick scan on Rightmove shows commercial premises for sale at £200k or £14kpa in rent.
A commercial mortgage of £140k with a £60k deposit over a 25-year term would be £7,800pa in loan payments as opposed to the £14k in rent per annum. With the saving of £6,000pa, you also benefit from the loan-balance-reducing and have the ability to overpay in good times. You may also benefit from an increase in value and have the security of keeping your business in one place, while being able to make changes and investment in the property to make it your own.
There is a flip side, but given the market we find ourselves in, I will certainly be keeping my eye out for opportunities. Should you be doing the same?
George Oliver
Director at 1284
Communicating behaviour change
There’s a punchy framework at the centre of the planning process used by Government communicators to change people’s behaviour.
EAST is the acronym for the strategic approach used to break through blockages after identification of target audience, proposition, message and channel strategy. After considering the emergence of behavioural science in Government communication strategy in recent years we can begin to see how messages around us come to be formed.
Take, for example, the Government’s encouragement to wear masks, wash hands and stand 2m apart. The ubiquitous rule-of-three: ‘Hands. Face. Space’.
Read the DHSC press release of September 9, 2020, to see how communication presents the desired behaviour as Easy, Attractive, Social and Timely.
EAST is designed to change behaviours – a step beyond the fundamental communication goal of effectively transmitting a message which is received and understood by its recipient. Behavioural change requires that the recipient also acts upon the message as intended.
In doing so, ease is prized most highly by GCS. A message which is simple to understand, which requires limited effort to access (for example by being accessible in as few clicks as possible) and which establishes a desired behaviour as the default choice.
Campaigns are supported by comms that are (i) attractive to the target audience, (ii) leverage social groups and other networks, and (iii) timely in being delivered at a point when recipients can act upon message. It is essentially a lobbying strategy in reverse.
EAST is the core strategy behind tactical comms activity in the slogans and the adverts. It aims to encourage new behaviours, reduce harmful ones, improve existing behaviours, or refrain people from commencing harmful ones.
Done properly, it underpins a comms strategy which itself supports a policy objective. And it is measurable and evaluated in doing so.
Jenny Cross
CEO at Cross Productions
What are your customers searching for?
Ten years ago, 30% of purchasing decisions were made before a potential buyer even spoke to a company. Today, that number is up to 70%. This means nearly three quarters of all sales are made before a potential buyer even speaks to a company.
If you think about the path somebody might take if they were interested in your product or service, what would their first steps be? What happens for this potential customer to even consider the fact they might need whatever it is you are selling?
This is what we call a customer journey. I want you to think about what your customer journey might be.
In business, there is usually a problem, a pain factor that has been faced, and your potential customer doesn’t want to have to keep facing it. Although each customer journey might be slightly different, there will be similarities.
Ask yourself what the trigger points are
What has happened that has made your potential customer start thinking that they might need what you’re selling?
For example, imagine a mum of two pregnant for a third time. She currently drives a Ford Focus. She might do an initial search for ‘best car for a family of five’. A few months later, after she has chosen a new travel system for the baby she might search for ‘best car for XXX travel system’. There will be hundreds more searches she is likely to carry out, and each are part of that customer journey.
If you think about what your potential customers might be searching for, ask yourself: does your website answer these questions? Does your social media shout out at them? Do you have an over-arching marketing strategy that aligns with your customer journey?
Marketing can be as simple as you make it. Take a small step today and give clarity. Clarity sells over confusion. Step out from the fog and review your marketing. Is it clear? Is it answering the questions your potential customers are asking?
Laura Kearsley
Partner and Head of Employment at Nelsons
From home to hybrid: navigating changes to new ways of working
Employees will have the right to request flexible working from day one, with companies obliged to explain reasons for refusal, in a new consultation proposed by the Government. However, many employers have already started implementing hybrid working policies as they welcome back employees to the workplace after operating remotely for more than a year.
Here are my four areas for employers to consider when making the switch to hybrid working.
1. Implement policies
Hybrid working is a flexible approach and employers need to consider updating policies to introduce it. Although this varies for every business, new policies should be accompanied by supporting information for effective implementation. Procedures organisations should consider include: ◆ Who is eligible ◆ How to request hybrid working ◆ Clarifying responsibilities ◆ How hybrid working intersects with other flexible working ◆ Reviewing related policies.
2. Updating contracts
Hybrid working may bring contractual changes to someone’s employment, which need to be communicated transparently between organisations and employees.
If it’s a more informal arrangement, changes to contracts may not be needed – but it’s important in this case that both parties agree from the offset and if either are unsure, it’s advisable to seek legal advice.
3. Open communication
As previously mentioned, homeworking can only be successful through effective communication. It’s crucial to track and manage the flow of communication, otherwise it can be detrimental and exclude members who are not in the office.
There’s no ‘one size fits all’ when it comes to communicating, as all businesses are different. Therefore, each member of the organisation has a responsibility to keep this dialogue open and ensure its successful continuation.
4. Employee participation – feeding back or into policies
Participation can help reintegrate workers who’ve either been on long-term furlough or those spending more time in the office. From informal conversations, through to formal surveys or one-on-one meetings, these enable employers to answer questions, gather feedback and make the required improvements or alterations.
There’s no doubt the pandemic has led to a shift in working attitudes. Therefore, getting all of the policies and procedures in place is vital to ensure a smooth transition into a new era of working.
Jennifer Thomas
Development Manager for Leicestershire, Northamptonshire, and Rutland at Federation of Small Businesses
Business owners and weathering the perfect storm
The Government needs to act further to help small business owners weather the perfect storm.
Currently, our small business owners are up against it like never before. From the ending of government support schemes, to spiralling costs, to trade and supply chain disruption, to a worsening late payment culture, to chronic labour and skills shortages, to emergency debt repayments, the fuel crisis, and ongoing Covid health concerns and impact on consumer confidence and buying habits, our everyday entrepreneurs are in urgent need of help.
In the face of all this, further positive actions from the Government are needed to energise the recovery of small businesses in Leicestershire from the pandemic as they grapple with the challenges affecting the economy which are forming the ‘perfect storm’.
With small firms making up over 98% of private sector businesses across Leicestershire and beyond, it is, however, positive to see Federation of Small Businesses (FSB) data showing that small firms in our region have strong growth and hiring aspirations – let’s hope these play out.
Business support organisations like the Leicester and Leicestershire Enterprise Partnership (LLEP), FSB, East Midlands Chamber, universities, and councils are working together to deliver programmes and funding which could help, but more is needed from central government to keep the economy moving and instil confidence. The November Leicester Business Festival, along with plans for Innovation Week in February, and a range of programmes and grant funding schemes to help local businesses, means there is help out there from local organisations. I’d recommend you look into these and make contact; even if you don’t think of yourself as a ‘networker’, there is various support from manufacturing to small start-ups.
As I write this in October, the political party conferences are in full swing and my FSB colleagues attending them have been urging the parties to ‘think small business and selfemployed’ when it comes to their priorities and pledges. SMEs can’t take more regulation, tax rises and barriers, and hoops when they are so critical to the UK’s recovery.
Jay Webb
Managing Director at Jay Webb Consultancy Services
Attitude is the key to recruiting the right people
Hire for attitude, train for skill,” stated American billionaire and co-founder of Southwest Airlines Herb Kelleher in 2011. Ten years later, this advice still holds water.
Skills for a job can be taught and quickly picked up by someone with the right attitude to learning and commitment to your organisation.
Job descriptions don’t always have indicators on what sort of attitude the employer is looking for and how to measure this in the recruitment process.
But by hiring people who have the right attitude and are likely to embrace your company and team values, you are more likely to recruit an employee who fits into your environment, shows commitment to working well and lives your values and behaviour.
Very often I find that small organisations grow quickly and then look to find the right employee by filling a vacancy with an individual who has the right skills, only to find that their attitude to work and time management is sadly lacking.
A lot of time and effort is then spent trying to get the individual to perform and fit into the organisation or getting them to deliver.
Sometimes, having spent a lot of valuable time and effort attempting to get the individual to ‘fit in’, employers are left with no alternative but to manage performance based not on the employee’s skills, but because the individual is never going to fit in or work well as their attitude is wrong for the organisation.
Termination in or at the end of the probationary leaves everyone feeling upset and let down.
So, the next time you are looking to recruit, consider employing for attitude rather than skill – a good team worker with a positive attitude, who is punctual, cooperative, reliable, flexible, goal orientated, change orientated with good communications skills.
Happy recruiting!
Bhavin Gandhi
Director at Paradigm Wills and Legal Services
Who will speak for you when you can’t speak for yourself?
IIf you lose the power to make choices and judgments at any stage during your life, a lasting power of attorney (LPA) will allow the people you know and trust to be able to legally, and easily, step in.
Along with lots of other people, you may think your partner or close family members can automatically make decisions for you if you’re not able to.
This is not the case.
If your partner or family members were required to pay your bills or make decisions about your health or care, they would encounter issues without legal influence.
Appointing a lasting power of attorney means it’s quicker and easier for those who you trust to be able to support you and act in your best interest. It might just be a temporary solution during a hospital stay, or it could be a more long-term arrangement should your lifestyle change in a way that needs someone else to make decisions about your health and care.
An LPA not only gives you a voice – it protects your choices.
Failure to create a lasting power of attorney
If you do lose mental capacity without creating a lasting power of attorney, it will be necessary for your family to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This means you lose control of who you would naturally give your powers to. This is a slow and a very expensive process, costing thousands of pounds.
So, who would you want to make decisions on your behalf if you were unable to? If you know the answer, then take the next step now.
Thinking outside of the cardboard box may be cheaper
than you think WORDS BY SIDDIQA REININGHAUS
Champion leaders in
Businesses, whether big or small, can impact the environment. Whether this impact makes a big or small difference is up to business owners.
Sustainability is important for future generations and goes beyond what individuals can do. Making the switch to being environmentally friendly, in many cases, starts with businesses.
Michael Smith Switchgear, a manufacturer of switchboards that control electrical distribution in buildings has decided to go green.
Current UK Net Zero Business Champion Andrew Griffith MP, who was appointed the title by Prime Minister Boris Johnson, commended the company’s actions towards going green on Twitter: “This small business based in #Leicester have committed to cutting their carbon emissions… taking climate action by installing 102kW of solar power on their factory roof and changing all lighting to LED bulbs to reduce their energy usage.”
The company continued to grow and expand its business during the pandemic and their work qualified the team as critical key workers as their electrical products were vital to hospitals.
Managing director of the company Sean Smith said: “Everything we do is at the forefront of sustainability and we are trying to influence our supply chains to follow suit.”
Finance director Emily Smith added: “We want to make sure the whole supply chain is included in all of the green initiatives.”
The company encouraged their suppliers to take greener initiatives and informed them on how easy the switch was to go green.
Emily said: “There is a common misconception that going green is more expensive, but we learned that’s not entirely true.”
Since switching their product packaging to biodegradable bubble wrap, Michael Smith Switchgear has in fact saved more money and added value to their services.
They’re also continuously supporting other businesses, as they have invested in packaging from a local small business within the area.
Emily oversees the HR and health and safety departments where she hopes to minimise paperwork as they make the change to electronic documents in the New Year.
Of course, there are challenges in making the change to becoming more environmentally conscious. Investing in solar panels was a major expense, but Sean and Emily believe the payback will be worth every penny.
Sean said: “Solar panels are expensive, but the payback period is only a few years and generating regular cash flow will help us in the long run.”
The company has also invested in electric vehicles and charging points which will be powered using the solar panels.
“We’ve installed LED lights and made the switch from gas to electric heating, which will keep costs down whilst being more economically efficient,” said Emily.
The business has learned to identify low-cost methods of adapting and how to involve their customers. Sean and Emily believe other businesses can do the same.
“All businesses should go green, because as business leaders we have so much more influence and power within the economy. If we don’t make a start, who will?” asked Sean.
Supplying vital electrical switchgear products to various industries including the NHS, data centres, and supermarket food distribution centres, Michael Smith Switchgear is setting a good example to other businesses that can be influential to other industries.
He and Emily believe that businesses are the driving force to save the planet.
Emily continued: “We have a joint responsibility to ensure the planet survives for the future generation and to make this planet as eco-friendly as possible.”
The company has made a big switch, especially from its inception in the 1980s when the factory workers’ mentality involved people coming to work simply to earn a living.
Now, Michael Smith Switchgear focuses on staff wellbeing and offers generous benefits and packages.
Employees are also recognised for their hard work and efforts, especially since the company was awarded with the Business Growth of the Year and Employer of the Year at the Niche Business Awards 2021.
The pair said wining these awards has continued to boost company morale since staff were rewarded with an extra day off on Christmas Eve to be with their loved ones.
The switch to going green doesn’t stop here for Michael Smith Switchgear. Sean said this is just the beginning, as they have plans to look into more efficient ways of manufacturing by carrying out further research and development into their products.
Signing up to the UK’s SME Climate Commitment, Michael Smith Switchgear is continuing to take action towards COP26, the UN Climate Change Conference in Glasgow, which is held from October 31 to November 12.
To learn more about the company’s sustainability growth, head to the ‘News’ page at mssl.uk.com.
