Euro Projects Recruitment Business Leaders Zoom Call
For Manufacturing, Engineering, Technology, Transportation & Logistics Professionals
Summary of Key Points: 15th June 2020.
- Finance & Economy Update
- Stephen Brown from Euro Projects Recruitment - Today was the first day non-essential shops can reopen and there was definitely a lot more traffic on the road this morning and News reports of people queuing for shops.
- Pent up demand of people spending money they’ve saved during lockdown.
- David Tomlinson from HSBC: Bounce Back Loan scheme – past 1st phase with more applicants expected as furlough scheme reduces and staff wages need a company contribution.
- On a wider economic perspective – Talk of negative interest rates – consensus from banks this will not be the case but US Federal Reserve have postponed any rate increases until 2022.
- GDP figures for last month in isolation are cataclysmic – we expect a recovery but could take some time. HSBC is however open for business and very open to giving finance – banks are receptive.
- Stephen Brown from Euro Projects Recruitment: CBI has written a letter to PM about apprenticeship levy to be used to help pay wages – government being lobbied.
- France and Germany extending their furlough scheme to next year – some pressure for ours to do the same.
- A ‘V’ or even ‘U’ shaped economy is considered unlikely– more NIKE logo tick shape.
- Government trying to stimulate a green recovery – investing in Fibre and 5G network
- Companies in automotive – more investment for electric vehicles
- Maybe scrappage scheme in favour of electric vehicles
- Similar household boiler replacement scrappage scheme
- Furlough and Employment Law Update
- Helen Dyke - Irwin Mitchell - Big update last Friday by HMRC on flexible furlough scheme, starting 1st July.
- Very important to be aware – furloughed employees will not need be required to avoid working - you can agree proportions of work, with the unworked portion supported by JRS.
- The minimum 3 week period required to qualify a furloughed employee for JRS to be reduced to one week from 1st July.
- New guidance – https://imbusiness.passle.net/post/102g9i3/new-flexible-furlough-scheme-guidance-published
- Broadly from 1st July employers claim pro rata amount of 80% of salary based on number of hours not worked. HMRC have a worked example to help with calculations.
- You could have someone working for 1 day and furlough rest of the week.
- Timing of redundancies – furlough has meant that redundancy plans have been pushed back but businesses need certainty.
- Motivating Returning Employees from Furlough:
- Stephen Brown from Euro Projects Recruitment: Topic today around moving forward and those coming back to work – particularly furloughed employees – ensuring they return at the same pace and speed and same speed as colleagues who have been working throughout the crisis and avoiding silos.
- There are a lot of companies saying 20% of workforce is working much harder than ever before keeping it alive waiting for remaining 80% to come back on a “as required / demand dependant”.
- Many businesses have seen higher levels of agility – senior management teams have done more work that they previously relied on support staff doing. Although unwanted circumstances - Good team building – and many non-furloughed teams now working much closer.
- As demand increases and we need more critical mass in our businesses - How can we get furloughed employees as ‘match fit’ as possible ready for their return from ‘the bench’?
- Cassandra Andrews – Employee Engagement and Motivation Expert –
- 12 weeks in and it’s nice to be talking about bringing people back. Key concerns for some of my clients include:
- A ‘them and us’ scenario needs to be avoided. Integrate back in very important.
- As is making sure we do not bring back absence – particularly mental health – supporting people in this respect is very important.
- Our business culture and what we stand for remains and it’s connected
- Five key things to consider:
- Ask people how they are and how feeling. Do pulse check surveys. Tools out there that make it very simple and not onerous. A client with 150 headcount does a survey every 90 days but stopped due to Covid-19 – was worried about response. Now resumed things not as bad as they thought. Survey gives opportunity to see what’s going well and what you need to do more of. If you don’t ask then you are blind.
- Understand motivation of individual employees in your workforce – all are different and motivated by different things – If you’ve furloughed staff then a key driver is security and predictability and wanting things to be the same – this is unlikely to be the case so clear and regular communication will reduce fear and resentment and being worried about their job.
- Support for Managers – Make sure they are adapting their management style whilst they are also trying to keep the business going – A new skill set is required for managing remotely – make sure they are checking in with furloughed employees and is your business encouraging this?
- Culture: A client with a 30 person headcount – Strong culture, real sense of belonging might now be lacking as most of the team furloughed. Leader has set up WhatsApp group – posts and chats and sets challenges everyday - bake off - Strava fitness challenges - staff still feel connected and valued
- Get people back fighting fit – Learning & Development – use existing training you might have in business – how leverage and utilise best – Zoom sessions – get them mixing and set good clear development plans.
- Show staff you value them and are interested in them.
- Provide some level of routine and purpose - good for mental health
- We were very good at using technology to do remote working but management techniques not as fast – lag behind – we now need to focus on the people element not just technical.
- Special Offer of Support - Motivational Mapping for a Return to Work: https://www.cassandraandrews.com/motivate-for-growth
- Steve Goodall – Sales Trainer – Working with a lot of businesses to overcome the ‘rustiness of sales force’ There was a window of opportunity predicted when customers started to return but still had time to talk – last week the window opened.
- Need to be proactive now is vital – Case Study: A business in capital equipment sales– the business case for their products hasn’t gone away – the sales cycle has been suspended – maintain communication and momentum – discuss commissioning and get ahead on the aspects of the process you can.
- Case Study - A more transactional businesses needs to move quickly to avoid fighting with too much competition – Consider what value do you bring over and above - be memorable and be listened to is the challenge
- Consider who are your good avatar customers? Before returning staff - ask them to consider who they should contact - Forewarned and forearmed.
- Prepare your team with roll play - People don’t love role play but if you think about it – footballers take practice penalties , golfers practice – think about messages and differentiation and BE IN TOUCH / BE PRO-ACTIVE