How to Help Employees Mind Their Manners in an Online World
Businesses everywhere are relying more and more on social media to engage with consumers and build their brand. Which means that employees are now routinely acting as online brand ambassadors with customers — which can be great, but can also be a disaster waiting to happen. Your team will not instinctively know how to deal with customers in real time without proper training. Follow these simple steps to make sure your employees have the tools, confidence, and knowledge they need to maintain a professional demeanor online.
by Scott Steinberg on Society for Human Resource Management
A Better Way to Set Strategic Priorities
We’re guessing your resources are finite. In that case, the process of deciding which projects should stay and which should go could be what unites or divides your leadership team. Steer clear of turf wars by putting priority rank ordering on the back burner. Focus instead on building a strategy around the three essential variables needed to successfully deliver a project: objectives, resources, and timing. Doing so will align your teams, head off any discord, and keep egos intact. Here’s how.
by Derek Lidow on Harvard Business Review
Four Ways to Grow Your Return on Personalization
No, no, not the “Happy Birthday” email! You want personalization as part of your business’s marketing strategy to help build strong and lasting customer relationships. But you’ve got to dig deeper than that old yearly greeting to drive customer engagement and sales. Keep it if it’s the first touchpoint in a multi-point plan, then follow it up with targeted content that your customers can really use — like a tip sheet that helps them achieve a specific goal — and you’ll be on your way to delivering a solid strategy. Read on for more tips.
by Jim Dicso on Marketing Land
Master of All Metrics
Everyone knows that data is where it’s at. And while traditional financial metrics still have their place, businesses are also plugging in non-financial data indicators — like customer satisfaction, brand loyalty, market share . . . But how best to manage all this information and whose jurisdiction should it fall under? Companies like Intuit and Blackline are turning their CFOs into chief data officers and putting non-financial metrics under their purview. Get the details on how these companies are making this switch.
by Russ Banham on CFO Magazine
Taking a Page From the Gig Economy to Ease the Recruiting Process
Competition for top talent just gets hotter. That’s why companies like SAP Software Solutions are shaking up their recruitment methods by borrowing tactics from the gig economy. Though online interview processes and short-term hires may not be right for every business, these more flexible, convenient, and social ways to hire are helping companies find qualified candidates faster and more efficiently than ever before. Here’s how going beyond traditional hiring practices could help your business come out on top.
by Mia Mancini on Workforce
Most Reorgs Aren’t Ambitious Enough
Company reorganizations have a terrible track record. McKinsey finds their success rate at less than 25%. Why? Because most leaders never go beyond making initial surface improvements. Rather than creating an adaptable framework that will execute their business strategy and also lend itself to refinement and change, they focus on moving people and projects around on org charts or making across-the-board cuts. Here’s how to nail your next company reorg and make sure your changes stick.
by Ron Carucci on Harvard Business Review
Opportunities Enter When Marketers Open Up to CX
Want to raise the bar on customer experience? Try strategies from companies like online appliance retailer Ao.com, Domino’s Pizza, and budget accommodation booking platform Hostelworld. Tactics range from retail-to-ecommerce transitions to empowering employees to resolve customer problems and hiring data scientists to interpret analytics. To stay on top of their game, these businesses also keep an eye on others’ CX success. Here’s how to mine CX for your next big marketing opportunity.
by Michael Nutley and Sean Hargrave on CMO
Why this Start-up Founder Matches Contributions to Help Employees Pay Off Student Loans
The Federal Reserve Bank of New York reports that outstanding student loans in the U.S. totaled $1.28 trillion as of September 2016. That’s a five-fold increase since 2004, when the total was $0.26 trillion. With so much debt on their shoulders, how will the millennial generation — and the generations that follow — afford to buy homes, start families, or create new businesses? For Raden CEO and founder Josh Udashkin, pondering this question wasn’t enough — he decided to help his employees get out of debt.
by Catherine Clifford on CNBC
Is It Time to Kill the 40-Hour Workweek?
The average American now works 47 hours a week. Every year, job stress has a hand in more than 120,000 deaths and $190 billion in healthcare costs. So companies like Amazon are experimenting with 30-hour work weeks, compressed schedules, and telecommuting, and the change is paying off. Among their fans are millennials, who (excluding salary) regard work/life balance as the most important factor in selecting an employer. Here’s how fewer work hours could yield greater success for your business.
by Theresa Agovino on Society for Human Resource Management
How Strategy Is Evolving — and Staying the Same — in the Hypergrowth Digital Age
Zoom, zoom! The business climate changes rapidly these days, and many small and nimble businesses are forgoing multi-year strategy horizons in favor of two-speed strategies. Larger companies tend to stay with the sturdy three-year strategy outlook. But what if you could have it both ways? Innovative strategic methodologies allow any business to pivot and adapt as changes happen. Industry insiders give their take on the state of strategy in the Digital Age.
by Brian Gregg, Jon Weinberg, Jacques Pommeraud, and Dianne Esber on McKinsey’s Discussions on Digital
How is Big Data Changing Marketing?
The “big data” era in business, enabled by innovations in data analysis and instant communication with customers through real-time interactions, has left copious amounts of consumer data in the hands of eager marketers. The question is, what will they do with it? Industry experts discuss the opportunities and challenges arising from data breakthroughs.
by Sanjog Misra on Chicago Booth
What’s Wrong With Crowdfunding?
It seemed like a good idea at the time: With the signing of the JOBS Act in 2012, small business owners rejoiced at the prospect of raising capital through the Web. But while the law has incrementally increased the amount of money going to entrepreneurs, overall its impact has fallen flat. Disclosure requirements, third-party audited financial statements, and the low rate of return for most investors are just a few of the reasons business owners are opting out. Here’s how crowdfunding’s gone wrong.
by Vincent Ryan on CFO
You and your HR team may view talent with a fixed mindset — and think that talent alone, without effort, creates success. But Tom Brady didn’t get to where he is on talent alone, and the same probably goes for your employees. Think about it: You may have underdogs on your team with some natural abilities and some they can polish to a high shine through study, dedication, and practice. See how adopting a growth mindset can open out your talent development strategy.
by Frank Kalman on Talent Economy
Anxiety about the world’s economic future has people biting their nails around the globe. The structures governing the U.S. economy have undergone significant changes in just the first two weeks of the Trump presidency. But the world of business has always been unpredictable. And now? Companies like cross-border railroads, car manufacturers, and hospitals, after nearly a decade of stability, are bobbing in a sea of uncertainty. Here’s how to find your footing in an unstable environment.
by Daniel Gross on strategy+business
Email marketing has managed to shoulder traditional techniques like direct mail, trade shows, trade advertising, and cold calling practically out of the picture. By 2018, businesses will spend $6.2 billion a year on email marketing software and services, whose sales are predicted to grow at a compound annual growth rate of 20 percent over the next five years. Which means slipshod email practices won’t get you noticed anymore. These five email marketing trends should shape your efforts this year.
by Geoffrey James on Inc.
With all the rapid economic change of recent months, it seems appropriate to turn a vigilant eye toward corporate financials. First on the to-do list: Get a handle on any financial reporting, legal, and regulatory changes made over the past year. Modifications to be aware of include the FASB’s new standard in revenue, new going concern and consolidation standards, and compliance with the new PCAOB standard. Here are the financial reporting requirements to stay on top of now.
by Len Combs on LinkedIn Pulse