This January our 2022 look ahead webinar asked what's important in the future of business, and what can you as a business leader do to prepare. Here’s 13 actions taken from the webinar that you can work on this year to make it a success for your business.
People and your employer brand
1 Support your people with more than money
Increasing wages is not possible for every company and it’s no longer enough to attract the talent you need. Businesses need to think more holistically about their Employee Value Proposition (EVP) - exploring non-cash benefits and being more creative. Examine your EVP to work on retaining the talent you have. Invest in skills across the whole of your workforce, including leadership teams.
2 Think differently about how you attract talent
Attract new talent in ways that your competitors aren’t. People want to work for a company that will allow them to grow and thrive and do brilliant client work.
3 Make sure your leaders are prepared to deal with the challenges ahead
Hold the mirror up and do a maturity assessment around how your leaders think about inclusion and diversity and ESG (Environmental, Social and Governance) and help them to set real plans.
4 Revaluate your hybrid working strategy to get the most from it
Explore how you can use remote and hybrid working to improve your organisation’s performance, employee engagement talent retention, and diversity.
5 Take action that demonstrates clearly that you care about sustainable healthy performance in your people, particularly their mental wellbeing
This can be approached through the actions of your leaders. If they’re serious about mental health and are role modelling the prioritisation of their own health, it will give people the permission to prioritise this for themselves, and help build resilience and deepen trust. This year, you should focus on:
- psychological wellbeing and building resilience in mental performance and outlook
- physical health, taking the time, and approach to enable that to happen
- ensuring that people’s financial wellbeing is looked after
- social culture, ensuring that your people feel socially connected to each other and feel safe
Operations and transformation
1 Agree what transformation means for you
Many areas of your business will be aspects that can add to growth.
2 Consider the tech and systems you need
Ensure you can trust the data in your business to make best informed decisions, and that you can act quickly. You might need to think about the skills required by your people to achieve this.
3 Prepare for more regulation
Companies will have to navigate the growing burden of red tape. Alongside further Brexit changes, you can expect new legislation on areas such as audit reform, reporting requirements, and further measures to deliver newly agreed goals on climate change.
Environmental, social, and governance (ESG)
1 Take your time
Understand it is not an overnight fix, it's a journey and be transparent around your plans on sustainability and how you will achieve the commitments made. Prepare detailed transition plans, and disclose your current and planned activities to achieve the goals and targets including qualitative factors.
2 Keep your plans flexible
If you need to adapt them to further regulatory requirements and as further specific data becomes available.
3 Set achievable targets
Understand the long-term return and short term gains that sustainability can do for you, including remaining competitive and attracting talent. Formulate clear KPIs and targets as this will be crucial to long term success.
4 Take climate and your pathway to net-zero seriously
Because if you aren’t already, your stakeholders will be. Your suppliers, customers, employees, shareholders, and regulators will start wanting to see action. You need to manage the awareness and education across your business around sustainability.
5 Include key stakeholders
Work with suppliers and other business partners to understand their current and future sustainability plans, and how they will support you in your sustainability journey.
Watch the webinar on demand to find out what our expert panel had to say.
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