Internal Mobility: The Missing Piece Of 2023 Business Strategy

Internal Mobility: The Missing Piece Of 2023 Business Strategy

Michael is a human resource consultant with Insperity . He specializes in team building, employee engagement and performance improvement. getty With data from the Bureau of Labor Statistics showing there were almost two job openings for every unemployed person in the U.S. in January, businesses planning for 2023 should be thinking about internal mobility, or the movement of employees within an organization. A strong internal mobility strategy can allow employees to seek out roles that align with their interests, contribute to an agile culture and create a competitive advantage. To design an effective internal mobility strategy, leaders should understand why internal mobility matters so much in 2023. In my experience, the answer lies in internal mobility’s impact on improving retention and engagement, lowering recruitment costs and encouraging innovation. Internal mobility can raise retention and engagement. Even with some major tech companies making layoffs, many businesses continue to cope with the impacts of the tight labor market. Those impacts include reduced employee retention and, in some cases, lower employee engagement, as many workers do not expect to stay in their roles for much longer. With an appropriate internal mobility strategy, leaders can combat both challenges. In an organization with low […]

5 Misconceptions Of Business Podcasting

5 Misconceptions Of Business Podcasting

Co-Founder and CMO of Content Monsta , a digital marketing agency focused on multi-media content production and marketing strategy. getty Podcasting has become a popular marketing tool for businesses of all sizes, and for good reason. Podcasts offer a unique way to reach a targeted audience, establish authority in your industry and drive conversions. However, before starting a podcast, it’s important to understand the potential benefits and costs of starting a podcast for your business and clear your mind of the most common misunderstandings about podcasting for business. Misconception #1: Success is about reaching as many people as possible. Of the several factors to consider, the first and most important step is to understand the potential benefits that a podcast can bring to your business. A podcast can help you reach a new audience, generate leads and sales, and establish your brand as an industry leader. While not transactional or immediate, these benefits can be significant and should be taken into account when determining the potential return on investment (ROI) of launching a podcast. Because podcasting for business is about your brand, reaching low-value audiences for fame does not produce an ROI. Reaching the right audience does. Misconception #2: […]

What Those In The Entertainment Business Should Know Before Doing Business In Saudi Arabia

What Those In The Entertainment Business Should Know Before Doing Business In Saudi Arabia

CEO at Jazo P.R. and an experienced publicist with extensive knowledge of the entertainment industry and the Gulf region. IMDB credits . getty At first glance, the Kingdom of Saudi Arabia (KSA) might seem like a place where everyone knows everyone—where anyone may be reached all the way to the top through a friend or a relative, and where there are few degrees of separation between people. As a result, it is common to perceive huge business opportunities are just within reach. They are often not. Much time, effort and resources are wasted in pursuit. The underlying reasons for this are many—mostly varying forms of a mismatch of expectations. Add to this the fast pace of change (the Saudi government is like a startup). Policies, positions and priorities seem to change on a daily basis. And with a culture that never says "no" to your face, it’s pretty easy to see how one may get stuck scratching their head at how it all works. However, with the right guidance through the government, business and cultural landscape, there is a world of opportunity to be had. Many business trips and stays in the KSA have made me realize I need […]

Nestle sees tough choices ahead

Nestle sees tough choices ahead

Photo: ©GOPIXA – STOCK.ADOBE.COM VEVEY, SWITZERLAND — Nestle SA’s stock-keeping unit (SKU) rationalization program has evolved from a short-term initiative to a company-wide strategic priority. Management is committed to improving the business’ financial performance by doing more with less. Initially, Nestle sought to alleviate supply chain bottlenecks by reducing product line complexity. The goal was to ensure the fastest turning SKUs were on shelf as markets around the world emerged from the pandemic. “Once we started doing that, we saw there was tremendous promise in it, and we scaled it up and accelerated it quite a bit,” said Ulf Mark Schneider, chief executive officer, in a Feb. 16 conference call to discuss annual results. “And clearly, we noticed that we haven’t done that sort of exercise for a long period of time.” The focus has now shifted from individual SKUs in a line to brands, segments and geographies, according to the company. “In cases where we cannot sell a business, we’re not afraid of walking away from it as long as we do it right,” Mr. Schneider said. As an example, he pointed to Nestle’s pending withdrawal from the Canadian frozen food market. “This is a book of business […]

DoorDash's Q4 Beat Underscores Success Of Loyalty Business, Synergies From Wolt

DoorDash’s Q4 Beat Underscores Success Of Loyalty Business, Synergies From Wolt

DoorDash, Inc (NYSE: DASH ) reported fourth-quarter revenue growth of 40% year-over-year to $1.81 billion, above analyst estimates of $1.77 billion. DoorDash reported a loss of $(1.65) per share, higher than the $(0.68) consensus . One area of strength for DoorDash is certainly its loyalty business, DashPass. DoorDash had 15 million total loyalty members last year, three million more than Uber Technologies, Inc (NYSE: UBER ) Uber One loyalty program included ride-hailing and delivery , the Wall Street Journal reports . DashPass appears to more than compensate for free delivery programs via business volumes. DashPass members spent "significantly more." Uber One members spend more than four times what nonmembers do monthly, Uber confirmed. DashPass subscribers accounted for 65% of DoorDash’s gross food sales in January, WSJ wrote. DoorDash’s relative suburban focus continues to pay off over domestic competitors like Gopuff , Instacart , and Uber. DoorDash’s costly acquisition of Wolt in Europe also seems to add value. Wolt’s gross order value rose 50% Y/Y in Q4 to roughly €1 billion, implying Wolt has grown to about half the size of competitor Just Eat Takeaway’s Northern European business. This year’s guidance for total gross order value came slightly below Wall […]

Trying To Define Your Business's Niche? 10 Questions To Ask Yourself

Trying To Define Your Business’s Niche? 10 Questions To Ask Yourself

Defining what makes your business unique is one of the most important tasks you can do to help answer the question of why customers should buy from you. Without a differentiating factor separating you and your competition, you ultimately give customers no reason to choose your business over another—which isn’t a helpful strategy when looking to grow your company. But if you’re new to business or haven’t considered your brand’s niche before, how do you go about determining it? The members of Young Entrepreneur Council can help. Below, they offer up 10 questions you can ask yourself that will help you define what is unique and different about your brand and explain why these are such effective questions to ask. Members pictured from left to right. Photos courtesy of the individual members. 1. What is the job that needs to be done here? Asking this question prompts me to think holistically about the users and what their needs might be. Focusing on this question helps you assess whether you have a creative and better way to solve their problems and how you solve it differently from others. – Paul-Miki Akpablie , Akos Technologies Inc. 2. What sets my product […]

15 Tips To Help New Business Owners Worry Less About Money

15 Tips To Help New Business Owners Worry Less About Money

Most new business owners will face financial woes at some point along their entrepreneurial journey. When they’re just starting out, cash isn’t in abundant supply very often, so owners have to focus on lean operations and stick to a firm budget. Even after taking these steps, it’s not uncommon for a new owner to worry about having enough money to keep their business going. Many members of Forbes Coaches Council have come to intimately understand the stress and strain that money issues can cause for a new business owner through their work coaching leaders. Below, they share tips to help entrepreneurs worry less about money and get back to doing what they love: growing their business. Members pictured from left to right. Photos courtesy of the individual members. 1. Determine What Money Represents For You While you can’t necessarily change the condition of money in your business right now, what you can do is take time daily to identify what having an ample supply of money in your business feels like. You can also ask yourself what money represents for you. For example, it might be ease, freedom, flexibility, choice, greater spending power or relaxation. When you’re focused in […]

How Understanding The Nuances Of Human Behavior Could Help Your Business' Bottom Line

How Understanding The Nuances Of Human Behavior Could Help Your Business’ Bottom Line

Michael Davis is the CEO and founder of Merek Security Solutions , a data mindfulness and cybersecurity firm out of Santa Fe, New Mexico. getty In today’s digital age, businesses should understand human behavior’s nuances to navigate the online world effectively. Cyberpsychology —the study of how humans interact with technology and how these interactions affect our behavior positively and negatively—has become increasingly important for organizations looking to understand and connect with their customers. However, many businesses still fail to fully grasp the implications of cyberpsychology and how it can impact their bottom line. At its core, cyberpsychology is about understanding how technology shapes human behavior and how we interact with the digital world. It encompasses everything from how we communicate online to how we consume and engage with digital content. To truly understand cyberpsychology, businesses should take a holistic approach that considers the technology and the people using it. You can start by asking questions relative to business development and the bottom line, such as the following: • How can we identify and mitigate the potential adverse effects of technology on employee productivity, engagement and satisfaction? • How can we use cyberpsychology insights to improve the customer experience and […]

Ameriprise’s Kimberlee Orth: When the Whole Family Joins the Business

Ameriprise’s Kimberlee Orth: When the Whole Family Joins the Business

Kimberlee Orth’s husband and four children all work at her $2.3 billion Ameriprise wealth management practice, but she says she wouldn’t have considered hiring them if they didn’t fit her demanding, client-first culture. “It’s a wonderful business, and I’m not interested in ruining this business because you happen to have some of my DNA,” says Orth, a veteran advisor of 35 years. Speaking with Barron’s Advisor, the head of Wilmington, Del.-based Orth Financial Group explains how she brought those family members aboard without… Welcome to Barron’s Advisor! Our content is free but available only to wealth management professionals. To read this article, please provide the information below so we can confirm that you work in the industry. If you’re not a wealth management professional, you can find other great financial content at barrons.com . If you have any questions, please contact us a advisor.editors@barrons.com

The Arctic ‘will not be business as usual’

The Arctic ‘will not be business as usual’

The Arctic ‘will not be business as usual’ By LUIZA CH. SAVAGE 02/17/2023 09:30 AM EST Welcome back to Global Insider’s Friday feature: The Conversation. Each week a POLITICO journalist will share an interview with a global thinker, politician, power player or personality. This week, Luiza Savage, POLITICO’s executive editor for growth, talks with two Norwegian officials as their country prepares to take over the chair of the Arctic Council from Russia. Follow Luiza on Twitter | Send ideas and insights to lsavage@politico.com Programming note: We’ll be off this Monday for Presidents Day but will be back in your inboxes on Wednesday. The Conversation A little-discussed casualty of the war in Ukraine has been the Arctic Council, a 26-year-old body that is supposed to be the main diplomatic forum for Arctic nations to collaborate on shared goals like sustainable development and environmental protection. Russia was in the middle of its turn at the two-year rotating Council chair when Moscow’s invasion of Ukraine prompted the other seven member nations to bring their work to an abrupt halt. On May 11, Norway is slated to take over the chair from Russia — and faces the delicate diplomatic task of coaxing the […]