Adapting your business strategies, tackling cyber security, helping you to focus on your wellbeing for 2024, plus how to seek support if the recent floods have damaged your property
Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!
Adapting to Change: Essential Strategies for Business Success
With all the changeable weather we have been having recently we hope you have been able to stay dry and warm!
Change is not only confined to the weather, but it is also an inevitable facet of the business landscape. Whether prompted by technological advancements, market fluctuations, or internal restructuring, the ability to manage and navigate change effectively is crucial for sustained success. Businesses that embrace change as an opportunity rather than a threat are better positioned to thrive in today’s dynamic environments.
What can help us to adapt to change successfully?
Understanding the Need for Change:
The first step in managing change is acknowledging the need for it. Recognise the factors driving change – be they evolving consumer preferences, disruptive technologies, or competitive pressures. A thorough understanding of what is causing the change enables businesses to develop a proactive approach that may even be able to control the effects of the change, rather than simply reacting, which often means acting too late.
Effective Communication:
Communication lies at the heart of successful change management. Transparent and open communication help to convey the reasons behind change, its potential impact, and the vision for the path forward. Engage with your employees, stakeholders, and partners, fostering a culture where ideas, concerns, and feedback are valued.
Leadership and Vision:
Strong leadership is pivotal during times of change. Leaders need to articulate a compelling vision that inspires and motivates the workforce. A clear direction provides a sense of purpose and will help guide everyone through the transition so that everyone’s efforts stay aligned with the end goals.
Embrace Flexibility and Adaptability:
Flexibility is key in adapting to change. Businesses must be prepared to pivot, adjust strategies, and adopt new approaches as circumstances evolve. An agile, flexible mindset allows a business to respond quickly to challenges and opportunities.
Empower and Involve Employees:
Involve your employees in the change process. Invite their input, involve them in decision-making, and provide training and skill development opportunities so that they are equipped for what the changes will bring. Empowered employees become advocates of the change you want and will help to drive implementation from within.
Manage Resistance Effectively:
Resistance to change is natural, so it is important to acknowledge concerns and address them sympathetically. Encourage open discussion, providing support where necessary. Offer clarity on how the change will benefit individuals and the business as a whole. If you can address resistance early, you can prevent it from becoming a roadblock.
Evaluate and Learn:
It is crucial to continuously evaluate and learn throughout the change process. Monitor progress, gather feedback, and be willing to make adjustments as necessary. Avoid viewing setbacks as failures; instead see them as an opportunity to learn lessons that will help you in the future.
Celebrate Milestones:
Recognize and celebrate achievements and milestones reached during the change journey. This promotes a sense of accomplishment, boosts morale, and reinforces the positive aspects of change, motivating individuals for future endeavours.
In conclusion, managing change in business is not just about navigating through it, but rather it can be embraced as an opportunity for your business to grow and innovate. Your successfully managing change not only ensures resilience but positions your business for sustained success in an ever-evolving marketplace.
We have useful tools and checklists to help you assess your systems and manage change. Please talk to us about how we can help you to continue making your business a success!
Pilot project to help directors deal with cyber security risk
Arculus Ltd, a cyber security consultancy, has been tasked by the UK government to lead a pilot project that is aimed at helping directors of UK organisations in managing their cyber security risks.
The government are looking to improve the cyber resilience of organisations and this project will help inform policy that can help with this.
Arculus is actively seeking participants from organisations of all sizes and sectors. They are looking for directors, non-executive directors, and senior leaders who are responsible for managing cyber security risks in their organisations. This could include heads of departments, business owners, or charity trustees.
What will be involved?
Participants will be asked to implement suggested cyber governance principles within their organisation and then share their feedback based on their experiences.
A non-technical questionnaire will need to be completed at the start of the project, and then again at the end. There will be multiple online sessions for feedback discussions.
The government and Articulus have reassured participants that their involvement is entirely confidential and voluntary, and no specific IT knowledge or technical expertise is needed.
The project is scheduled to run from early January to early March 2024. A detailed report on the findings will be publicly released on gov.uk, however any participating organisations will remain anonymous on the report.
For inquiries or to register interest in participating, email: copresearch@dsit.gov.uk
See: https://www.gov.uk/government/publications/uk-cyber-governance-project?utm_source=pocket_saves
Make your wellbeing a priority in 2024
Many of us make resolutions in January to try and reduce work-related stress and improve our wellbeing. But they can quickly fall by the wayside once we get back into the swing of work and running our business.
Are there any simple practical steps you could take to improve your wellbeing and that of your staff in 2024?
1. Set boundaries
Technology has brought many gains in productivity and efficiency, but it has also meant that we are more connected to work than ever. Being constantly available can make it difficult to switch off and may lead to feelings of burnout.
Setting boundaries so that work doesn’t invade your home life can give you proper rest and help you to feel more energised. Exactly where those boundaries lie is likely to be unique to you, so the important thing is to decide what is right for you and then communicate that to others.
Why not try:
- Using your status message on Teams, or ‘out of office,’ to show when you are or aren’t available?
- Having separate communication methods – email address or messaging apps – for your work and private life?
- If you work from home, creating a workspace environment where you can shut the door at the end of the day and finish work?
- Scheduling down time and treating that time as important and urgent as any work appointment?
2. Stay connected
We can feel that a situation we are going through or an experience we have had is unique to us. However, this is rarely the case. Often there are others in our network, whether professional or personal, who have undergone or are undergoing something similar. Tapping into this resource can help us to find successful coping strategies.
Therefore, rather than isolating and trying to work even harder when under stress, why not try reaching out to others?
Could you regularly take some time out for a coffee or lunch with someone you have not seen for a while? Do you belong to (or could you join) a professional organisation that has networking opportunities?
Building up in-person connections can help you to gain a greater sense of community and a feeling of being connected that will make a huge difference to your wellbeing.
3. Give back
Giving not only benefits the recipient, but also has considerable effects on the wellbeing of the giver.
Work can provide many opportunities for giving back. Why not try:
- Offering to help a colleague or business contact with something?
- Making a coffee for colleagues?
- Giving a card or small gift to a colleague who has been through a life event?
- Volunteering to mentor or coach someone, whether in the workplace or via a voluntary role in a membership organisation you belong to?
Caring for wellbeing is a constant balancing act, but setting boundaries that allow you to get proper rest, staying connected with others, and finding opportunities to give back can all help!
Support for flood damage available
Storm Henk caused widespread flooding and damage across England during the first few days of 2024, affecting households and businesses alike. Following this, the government has announced that financial support is available to eligible areas in England that have experienced exceptional localised flooding.
In these eligible areas, the following help will be made available to significantly affected and eligible businesses:
- 100% business rates relief for at least 3 months;
- Up to £2,500 from the Business Recovery Grant that can be applied for by small-to-medium sized businesses to help quickly return to business as usual;
- £5,000 from the Property Flood Resilience Repair Grant Scheme to help business property owners make their business more resilient to future flooding; and
- £25,000 through the Farming Recovery Land towards repair and reinstatement costs for farmers suffering uninsurable damage to their land.
This help is available through a scheme called the Flood Recovery Framework. This framework is used to help support councils and communities in exceptional circumstances after severe flooding.
The support can be accessed through councils in the eligible areas. The councils will announce additional details on who is eligible and how to apply.