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.

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.

Managing Director at 2XL Commercial Finance

Ihave noticed over the last few months that I have increasingly been using the word ‘apathy’ in my vocabulary; a word that up until the last few months I can’t ever really recall saying previously.

I Googled the actual dictionary meaning of the word and found this definition from the Cambridge Dictionary: ‘behaviour that shows no interest or energy and shows that someone is unwilling to take action, especially over something important.’

This has really come to the fore in the finance world recently, in my opinion. Timescales on answering enquiries or actually completing deals have gone from what used to be handled with a ‘fair wind’ of a six to eight-week completion time to a now more than likely three to four months. Considering that nothing has really changed, why is it taking so long?

Or, have things changed? In my opinion, something has changed – and it’s human attitude.

Covid-19 and working from home have rightly or wrongly ingrained a different way of working into some people. It has removed any element of urgency or accountability in the workplace in some industries, but it’s also clearly having a negative impact on an economy that needs all the help it can get.

I read a quote recently that really resonated with me, in both a business and personal capacity: ‘You can’t build with someone who isn’t trying to help you carry the bricks.’

If I apply the analogy to a transaction, then if someone in the chain of professionals lets you down, the whole thing falls apart. I would apply this to any team activity or sport too. If you have people who aren’t prepared to chip in, it affects factors like morale and momentum. This, in turn, makes the people who are actually putting the effort in demotivated and lose sight of what they thought was a common cause. The net result is an unsuccessful and dysfunctional team.

Let’s hope the new year brings the ‘kick-start’ to us all that I feel the economy desperately needs.

Good luck!

CEO at Lamp

Although they say money can’t buy happiness, money and mental health are undoubtedly linked. The clearest examples are driven by the current cost-of-livingcrisis. Not having enough to pay for essential items causes a lot more than unhappiness. At Lamp, we’re working with people whose mental health has deteriorated significantly because they can’t pay their bills. The county’s crisis centres are supporting people for the same reason.

And we do not have to be at crisis point for money to adversely affect mental health. Sometimes we spend to make ourselves feel better – acquiring new things gives us a short term high. In our consumer society, we’re surrounded by exhortations to buy more things. Even as many retailers adapted the tone of their adverts this Christmas, the prompts to buy more stuff were very evident. It’s not difficult to fall into a trap of buying to feel better, regretting it later and buying again to ‘treat ourselves’.

Many of us work to have enough money to buy the essentials we need, generating a disposable income as a reward for our hard work and perhaps to save something for a future need. HSBC once suggested a 50%-30%-20% ratio. There is little doubt that a wellmanaged disposable income increases our standard of living and improves our wellbeing.

Recently, however, the proportion of all our income we spend on essentials has increased substantially. Is it possible to maintain our wellbeing and mental health whilst our disposable incomes are being eroded?

I once worked for a charity that supported seriously ill young adults by providing them and their families with ‘Special Days’ – experiences that enabled and empowered people to live life to the full. Faced with the most difficult circumstances, families found enormous fulfilment and positivity through shared experiences. Two things stood out. Firstly, that this also applied to families of young adults in palliative care. Secondly, that sometimes the experiences were very simple and low cost. I always found the courage shown by these families to be humbling and I learned that to enhance wellbeing and quality of life, positive experiences are always better than stuff.

Research backs up both phenomena – that experiences lead to greater, more sustained happiness than possessions, and that as we age, simple experiences can have a substantial positive effect (Battacharjee A and Mogilner C).

In the current climate, those on lower incomes have felt the squeeze hardest, as a greater percentage of their expenditure covers essential costs. For some, the pressure is immense. I understand this pressure as I grew up with a single parent working two jobs and a reliance on free school meals and school uniform vouchers. So I accept that discussing disposable income under current circumstances might seem insensitive. But actively maintaining our wellbeing and mental health is important at all times and arguably even more so in difficult times.

Last year, the Government announced increases to benefits and pensions that might mitigate some of the inflationary impact on those with the lowest incomes. Some employers have announced support packages for staff to help through this period. But the geopolitical factors driving these difficult times will not disappear soon.

I urge us make use of simple experiences to improve our wellbeing; things that cost little or nothing. A walk in the park with family, a call to a friend, or volunteering time to a cause we feel strongly about. The real beauty of these simple shared experiences is that they benefit not only us, but the people with whom we share them. And the positive effect can be long lasting.

Owner of ER Recruitment

As we’ve seen more and more over the last few years, the job industry has found itself heavily candidate-driven due to an influx of open positions and a decrease in active job-searchers. As a result, candidates can be more selective in the roles they apply for, with a wider choice than ever before. Talented candidates are not afraid to turn down offers that don’t match their expectations, as counteroffers from existing employers are becoming more common.

To draw in candidates, businesses need to put greater focus and consideration into their branding, as it has become a critical element in the recruitment strategy. It’s been found that the more information jobseekers can find on a company, the more reputable it feels, resulting in a higher chance of them applying. This detail can range from the company’s reputation, mission, values, and what it’s like to work there. Injecting this into job descriptions not only makes them more interesting, but allows candidates to get a better understanding of what the business is about outside of its day-to-day operations.

Considering topics such as ‘what makes us an employer of choice?’ will provide candidates with reasons as to why they should rather apply for your business over a competitor. Making your business memorable means it will receive a greater reach to potential candidates, as word of mouth travels across networks.

Businesses wanting to compete for the best talent should consider what will appeal to a wide range of audiences and the type of employees they want to attract. Highlighting what the business is doing for the local community, and regarding issues that matter to potential candidates, helps them to connect on a personal level, while establishing credibility.

So many businesses are doing great things – it’s crucial to share them!

Managing Director at PPL PRS

Menopause – it’s the ‘hot’ topic at the moment, if you’ll excuse the pun!

Celebrities and the media are tackling the normally taboo subject head-on now – and so are a number of businesses looking to support their employees who may be experiencing symptoms.

However, it’s just a tick box for companies to say ‘yes, we have introduced a menopause policy, and we will support anyone who needs some extra help during this time’. Employers really need to understand the full implications of the menopause and the issues their staff may be facing.

Open and honest conversations, education, mental and physical support, and of course a thorough change to HR policy is vital to ensuring that valued employees are not only able to access the help they need, but also ensures they don’t suffer in silence and leave! Believe it or not, around 18% of women are considering leaving their roles due to a lack of menopause support from their employer.

At PPL PRS, we held real and frank discussions about the symptoms and how they affect us both mentally and physically, and how we could create an environment where anyone suffering would not feel embarrassed or excluded.

Are you supporting your employees? Is a menopause policy something you have looked into?

You can read more about our policy, practical help, and how we have signed the Wellbeing of Women Menopause Workplace Pledge to commit to continuing to provide that support and making sure it wasn’t just that ‘tick box’ later on in this issue of Niche.

Partner and solicitor in employment law at Nelsons

Digital technology is now used in most, if not nearly all, businesses and workplaces. Whether it be through emails, smartphones, social media, search engines, performance monitoring or instant messaging platforms, businesses and the workforce are becoming increasingly reliant and supported by digital and electronic technology.

Whilst businesses can greatly benefit from having access to such technology, it is important that business owners are also alert to the pitfalls. Where employees have access to digital technology whilst at work (and also often outside of work) issues such as the following can arise: (a) Confidentiality breaches: most commonly, through sending emails or data to the incorrect recipient (b) Inappropriate social media posts: whether that be on personal or workrelated accounts (c) Using personal smartphones or other personal technology during working hours (d) Misplacing or accidentally breaking technology devices.

In order to help prevent and combat issues relating to the internet and digital technology within the workplace, we recommend that businesses implement employee policies such as: (a) Email and Internet Usage Policies: these can cover areas such as social media usage, web browsing and email usage, and monitoring whilst at work or on work devices; (b) Data Protection Policies: which should confirm what employee data is held by the business and how it is used and processed, and also the responsibilities of employees to appropriately handle personal data whilst at work (c) Employee Training and Development Policies – these can cover technology and cyber awareness training (d) Home Working/Remote Working IT Policies: these can be used to ensure employees have correct and safe access to technology whilst working from home.

Having policies such as those listed above can help clarify the employer’s expectations of employees in respect of digital technology, which in turn can help increase employee productiveness whilst at work and can reduce the risk of issues arising.

Ultimately, if employees have clear and defined boundaries in respect of the usage of digital technology at work, and have sufficient training, technology should continue to help support, benefit and help businesses to thrive.

Managing Director at Pattersons Commercial Law

New year, new start, as they say!

I’ve been speaking with many clients and other professionals about their predictions and projections for 2023. As a corporate lawyer, I’m a big fan of growth, both organically and through acquisition. My top tips for ownermanagers to watch out for in 2023 are:

1. Owner-managers should start to pull together a list of companies they like the look of – and treat them as potential acquisition or merger targets. The new year may well provide an opportunity to really grow businesses by taking on an additional workstream which wasn’t there previously or diversifying into an area that may not have been considered already.

2. There may be some fantastic deals to be made. The premium paid for a business may fall as potential sellers assess what the next 18 months look like. This may well result in a seller willing to accept a lower sale price.

3. Be prepared to act quickly. If a buyer is looking at an acquisition and engaging with the seller, chances are others may be too. Potential buyers will want to have their funding arrangements either in place or clearly understood so they can move very quickly when the time comes. 4. Once the deal is done, the new business will want to pay special attention to its new team and maintain high morale. Many employees will be concerned about their futures and how secure their jobs are. Developing a new business culture, working arrangements and future progression will pay dividends over the following years.

Ultimately, much of a business’s growth will depend upon the buyer’s appetite to acquire, their access to funding and their vision for future growth.

The year o2023 will bring opportunities… will you stick with where you are or will you twist and explore a new opportunity?

Leadership Coach at Sarah Higgins Corporate Coaching

You want to be at your best every day at work, but one thing always gets in the way.

You don’t see it, you feel it. You don’t talk about it, you hide it. Fear.

Fear protects us from danger and has prolonged the survival of the human species. However, day-today, most of us aren’t facing actual danger, it is often imagined. As a result of our ‘fight or flight’ system, our physiology changes in response to potential threats.

In the same way, our body responds to physical threat as it does social threat. Most of the time, we react with a fight and flight stress-based reaction when we don’t need to. Our fears are often misguided, and we behave in ways which are unhelpful.

As leaders, this is important because our attitude and behaviours are always impacting the attitude and behaviours of others.

Fear is an ongoing pandemic, because it spreads faster than anything else. We feed off others’ fears as well as our own.

It can show itself in our day-to-day workplace as: fear of failure, conflict, embarrassment, rejection, missing out, being judged, the unknown, or of looking silly. Or it can express itself as: frustration and anger, avoiding making decisions, procrastination, not speaking up, avoiding risks, worry, doubt and anxiousness, being out of our comfort zone or feeling vulnerable.

When under pressure, or not managing ourselves in the way we do normally, we can often react to situations with good intentions, but it can negatively impact others. For instance, if we’re too perfectionistic, others might see us as overly controlling. If we are overly passionate about the results, we can appear annoyed. If we focus on the task too much, we might appear unsocial or emotionally disconnected.

Unintended behaviours of leaders destroy trust, diminish creativity, deplete motivation, reduce wellbeing and resilience, and erode efficiency and effectiveness. Teams that are feeling fear in their workplace may show resistance to ideas, not give feedback, hide their mistakes, blame others for things going wrong, not take responsibility, not push themselves, and feel less valued, demotivated and less engaged.

Develop your emotional intelligence, starting with self-awareness. Once you can be open about your strengths and weaknesses, fears, concerns, and how this impacts you – especially when under more pressure – you can build the trust for others to do the same. You can then start to use strategies to overcome this.