Business Education

Employees Have These Skills You’re Probably Overlooking in Your Business

Employees Have These In current conversations about emerging technologies like AI, workplace experts consistently highlight the critical role of human skills. However, eager to embrace the latest state-of-the-art tech, some companies may be undervaluing these essential qualities – characteristics that can be exceptionally valuable.

A recent Deloitte survey of 1,000 employees found that only 52% believed their companies prioritized “human skills” over technical skills. This perspective contrasts sharply with employees’ personal views: 95% described human skills as “always important” and “timeless,” with 87% identifying qualities like adaptability, leadership, and communication as essential for career growth.

Many employees also expressed a preference for employers to prioritize skills such as “teamwork and collaboration” over technical competencies like “AI integration and data analysis.” Without this emphasis on human skills, respondents worry it may have long-term effects. Specifically, 94% are concerned that future workers might lack the “necessary human skills” for the workforce.

While tech investments are clearly a priority for companies (average tech budgets increased to 5.49% of revenue in 2023 from 4.25% in 2022), there’s a notable gap in implementation. A survey by Challenger, Gray & Christmas found that while AI adoption is growing, it remains far from widespread among employees. Additionally, 70% of respondents in Deloitte’s survey reported being trained on new technology, only to see it quickly become obsolete. Consequently, employees want more interpersonal development, like mentorship and shadowing, along with a stronger focus on human skills.

How to Identify Human Skills

Since employees and employers alike value such skills and they can be mutually beneficial to both people and businesses, it’s important to identify individuals who possess these traits. Here are some ways small businesses can pinpoint critical abilities, such as communication, collaboration, and negotiation skills in their employees:

Communication Skills

Observe how employees communicate with customers, clients, and colleagues. Do they speak clearly, actively listen, and express themselves well?
Review email and written communications. Are they well-organized, concise, and appropriate in tone?
Look for employees who are comfortable presenting information to groups, articulating ideas, and engaging in discussions.

Additionally, take note of employees who can explain complex topics in simple terms and tailor their communication style to the audience.

Collaboration Skills

Watch how employees interact and work with others on team projects or tasks.
Do they contribute ideas, support their teammates, and share information freely?
Observe if they are able to compromise, resolve conflicts, and work towards shared goals.
Take special notice of employees who volunteer to help others and can take direction as well as provide it.

Also, pay attention to their personal disposition. For instance, if they demonstrate empathy, patience, and respect when collaborating.

Negotiation Skills

Evaluate how employees handle discussions around budgets, timelines, and other work-related terms. Do they prepare thoroughly, listen actively, and propose mutually beneficial solutions?
Identify individuals who can remain calm under pressure, make concessions when appropriate, and reach satisfactory agreements.
Look for employees who can effectively communicate their position, understand the other party’s perspective, and reach a compromise.

You should likewise keep an eye on their tactics. For example, if they are persistent yet flexible in their negotiation approach.

By observing these behaviors in day-to-day work, small business owners and managers can get a sense of which employees possess strong communication, collaboration, and negotiation skills. These soft skills or “human skills” are essential for success in many roles and can be just as important as technical expertise.

Want to Accomplish More?

Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do?

We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at 480-636-1720, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

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Economists Call It Induced Demand, Entrepreneurs Refer to It as a Learning Curve – But the Lesson is the Same

August 28, 2024 No Comments

Economists Call It “Induced Demand,” Entrepreneurs Refer to It as a “Learning Curve” – But the Lesson is the Same Decades ago, California attempted to alleviate and lighten heavy traffic congestion on its highways by adding more lanes. Upon completing construction, the new thoroughfares opened, and, congestion significantly dissipated. Then, gradually, traffic became heavier and heavier. Eventually, the very problem the state tried to tackle returned, but there were more vehicles than before, and traffic moved even slower. The new travel lane additions didn’t solve the problem – they only made congestion worse. Economists call this phenomenon “induced demand.” This term is a fancy way to say it entices and causes more people to use something. The concept of induced demand, first proposed by economist Anthony Downs in his 1982 book “Stuck in Traffic,” suggests that increasing road capacity may not diminish traffic congestion due to the Triple Convergence Theory. This theory posits that new capacity attracts three types of travelers: those who change routes, those who adjust their travel times, and those who switch modes of transportation to driving. These shifts in behavior lead to increased usage of the new capacity, negating the intended benefits of reduced congestion. The lesson in the California road expansion project is simple – the state planned based on theory and had little to no quantifiable data that widening the highways would work. Although it seems perfectly logical to add additional lanes to lessen traffic congestion, the reaction by motorists wasn’t fully considered. And, it’s this very intention that can land entrepreneurs into considerable trouble. Why Entrepreneurs Should Carefully Experiment Before Fully Committing Growing a business can be a challenging process, and it’s easy to make mistakes that can cost time and money. So, you need to be prepared and understand a few things before you attempt to move forward. Now, here are some strategies entrepreneurs can use to avoid expensive or time-consuming mistakes when growing their businesses: Start with thorough market research. Before expanding, conduct detailed market research to understand your target audience, competitors, and industry trends. This will help you make informed decisions and avoid costly mistakes. Then, take the time to develop a solid business plan. Create a comprehensive business plan that outlines your growth strategy, target market, financial projections, and potential risks. This will help you stay focused and make better decisions. Next, learn to lean on your strengths and do the following: Focus on your core competencies. Stick to what you do best and avoid diversifying too quickly. Expanding into new markets or products can be risky and expensive. Invest in technology. Leverage technology to streamline operations, improve customer experience, and increase efficiency. This can help you scale your business without incurring significant costs. Build a strong team. Hire the right people and invest in their development. A strong team can help you avoid costly mistakes and drive growth. Remember, to succeed, you need to rely on others to help you accomplish your ultimate goals because you can’t do it all on your own. Monitor cash flow. Keep a close eye on your cash flow to ensure you have enough money to cover expenses and invest in growth. Try to avoid debt as much as possible. The less you owe, the more options you’ll have. Freeing up resources will do wonders when you experience leaner times. Be agile and adaptable. Be prepared to pivot your strategy if market conditions change or if you encounter unexpected challenges. Unfortunately, too many entrepreneurs become stubborn and refuse to make adjustments, typically leading to unpleasant results. Learn from mistakes. Use mistakes as learning opportunities and adjust your strategy accordingly. When you do this, you’ll build a healthy habit. One that will allow you to reevaluate situations and change direction to avoid bad results. Seek professional advice. Consult with experts, mentors, or advisors who can provide valuable insights and guidance. It’s highly advisable to speak with an experienced business consultant who can provide you with the right advice. And obviously, stay organized and focused. Keep track of your progress, set clear goals, and stay focused on your priorities. By following these strategies, entrepreneurs can avoid expensive or time-consuming mistakes and increase their chances of successfully growing their businesses. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at (602) 541-1760, or, if you prefer,

If You Work Even When Your Not at Work You Need to Stop and Read This

October 31, 2018 No Comments

Work, work, work, work. It’s a well-established entrepreneurial behavior. And, in the age of on-demand information and immediate connectivity, it’s only getting worse. Unfortunately, too many people are a part of an always-at-work culture. Sure, they love what they do. But, it causes burn out and just isn’t healthy. If you’re constantly working, even when you’re not at work, you’re not alone. So, read on to learn a few ways to effectively deal with it. A Different Look at the Always-at-Work Behavior We’ve talked about wasting time. And, in a very real sense, that’s what you’re doing when you’re working when you’re not actually at work. In other words, the fact that you’re not truly in the moment means you’re only cheating yourself and the others around you. Depending on the job and the employer’s expectations, which should be clearly outlined, employees who accept a job and commit to meeting those expectations need to accept that they are “on call” and be willing to answer communications. However, remember the old adage, “All work and no play makes Jack a dull boy.” Everyone deserves some time to disconnect. —Forbes.com Think about it for a moment. If you are constantly distracted by work, you’re effectively taking time away from family and friends because you’re not enjoying what’s going on. In fact, you don’t even need to be there since it’s not what’s capturing your attention. How to Prevent Workaholic Urges Now, it’s one thing to “know” there’s an issue but a totally different thing to do something about it. After all, you’ll have to fight through those feelings that push you into your always-at-work disposition. So, let’s take a look at some effective ways to prevent workaholic urges: Recognize there’s a problem. You’ve probably heard this a number of times. It’s unavoidably true. You must start by recognizing there is a real problem. Then, commit to make a change. Don’t beat yourself up too much if you slip now and again because that’s just part of the process. Ask for help from your team. You’ll need to enlist the help of your team to make real strides. Tell them to keep work at work. You’ll probably find they are happy to help out. Establish a set turn-off time. Another way to get away from the urge to work is to establish a set turnoff time. (A good time is when it’s time to cook dinner or sit down for dinner.) Learn to indulge in relaxation. Relaxation isn’t a bad thing. So, stop treating it like it is the end of the world because it isn’t. Find something you enjoy and take time to enjoy it. I am personally working on myself too! I recently took a break to Mexico with my 14 year old daughter to unplug. Guess what, I plugged in my lap top to work in the mornings and found myself working until noon on a few days! Not good! I actually felt a small amount of anxiety because of my actions. I am now working on a better plan for unplugging. How else do you get away from the urge to work all the time? What other methods and strategies do you use? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

What to Do When You Lose Your Biggest Client

July 29, 2021 No Comments

Losing any client is a blow to any business owner. But, it’s particularly troubling when it’s the largest paying customer your company has a working relationship with (or had at one time). While it’s disturbing for any size client to stop doing business, it’s an absolute crisis when it’s the single largest one. Or is it? The answer really depends on how you handle the situation. So, read on to learn more about how to deal with losing your largest client. Seize the Opportunity Entrepreneurs are usually able to identify opportunity when it presents itself. But, in cases where there’s a tentative failure or bad fortune, it can be very difficult to see it and act upon the moment. Sure, it’s a setback and this makes it quite hard to get past the shock. However, the sooner you spring into action, the better. (Though don’t mistake this for making rash, uninformed decisions.) Whether you’re a Fortune 500 company or a small mom-and-pop business, losing a massive client is always shocking, uneasy and frustrating. Unfortunately, it’s something that almost every entrepreneur experiences at some point in time. —Forbes.com Instead, take a step back and give yourself time to form a generalized overview, one that’s not out of panic and fear. After all, it’s far better to take an honest assessment and determine precisely where you stand in order to determine exactly what actions are necessary in the short-term. This way, you’ll make informed decisions that are based on reality and not trepidation, anxiety, and alarm. 3 Ways to Deal with Losing Your Biggest Client Losing a big-time client is a real reason for concern. However, it’s also not an excuse to give up and close your doors for good. There are more than a few things you can do to prevent significant damage and/or start building new streams of revenue. Here are three of the most effective strategies you can use after losing your biggest client: Expand existing business relationships. The easiest way to make up for the difference is to leverage your existing business relationships. After all, current customers are the easiest ones to deal with and the most obvious place to double down. Since you have an existing relationship, you can offer more products and/or services to them and that will get you through in the short term. Take the opportunity to expand offerings. This is also a prime time for expanding what you offer to the public. This is a great opportunity to expand your business by focusing on your most popular selling items, whatever these are now and in the near future. Prevent the same situation from happening again. Of course, you probably don’t want to go through the same ugliness again at any time in the future. So, make sure to develop strategies that prevent this type of loss from happening again and you’ll gain a better sense of security. What other suggestions do you have that might be of help? Please share your thoughts and experiences by commenting so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.