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Why It’s Important To Communicate With Your Employees

Managers and CEOs are responsible for the growth of their companies. That means that they need to be able to communicate with their employees in order to get a sense of what is going on inside the company and how to make it better. In order to do this, managers must understand what people want from them as well as how best to provide it.

If, for example, an employee knows that you care about them personally but don’t feel like you’re listening when they talk about work concerns, then you will have a hard time getting your message across effectively during a meeting because your words won’t mean anything. The more understanding you can show before trying to address an issue or concern, the more receptive people will be towards hearing what needs to be said. In this article, we’d discuss why it’s important to communicate with your employees.

Improved Productivity

One of the most important reasons why you should communicate with your employees is because it will help improve productivity. When people know that their manager or CEO cares about what they have to say, they feel more confident in their work. This leads to better ideas and ultimately an improved product.

If everyone feels like they’re being heard, then there will be a lot of good ideas being brought up during meetings. You could use employee feedback surveys to measure the increase in productivity before and after improved communication. It’s important to have regular one-on-one meetings with your employees so that you’re able to get their input every now and then.

Employees Feel Valued

When managers or company leaders pay attention to what their employees have to say, they show that they value them as people. If you’re able to do this, then your workforce will feel valued too. When workers don’t feel valued, it’s likely that they’ll begin looking for another job because there are competitors out there that are willing to pay them what they’re worth.

In many companies, people get hired because of what they bring to the table and how much experience they have under their belts. In order to retain your best employees, you need to be able to show that you consider them a valuable part of the team even if they don’t have a lot of experience or skills. When companies feel like an employee isn’t valuable, they don’t offer them as many incentives to stay on board and might even let them go.

Employees Are Happy

Happy workers generate better results than unhappy workers do. No one wants to be around someone who’s complaining all the time; whether they’re a manager or not. This is why it’s important to show that you care about what they have to say. You don’t need to do this in every meeting, but when you’re able to give people the chance to talk about themselves and what they like doing, then it will make them feel happier.

It also helps employees because it shows them that there are people who are willing to listen to what they have to say. Being able to have a private conversation with someone is important because that means that they won’t get embarrassed or feel like everyone’s looking at them when they’re talking about something personal.

It Becomes Easy To Form Highly Effective Teams

Without communication, it’s very difficult to have a successful business, workplace, or team. Communication allows you to see the differences in opinion within your team and resolve them to make sure that everyone is on the same page. It makes it easy for people to understand what they will be doing because there are no misconceptions about anything.

When you communicate with your employees, everyone can work together in order to get common goals accomplished. There is also more of a sense of unity when the team works together on something they all believe in.

Clear Expectations Of Employees Are Set

Another reason that it’s important to communicate with your employees is because of how it sets expectations early on. If you have clear expectations of your employees, they can work more efficiently because they know what’s expected of them from the get-go. They can begin to build a strategy on how to complete their tasks and make it easier for them to do what they need to do.

Clear communication helps set boundaries about everything within the workplace so there are no issues about what’s acceptable and what isn’t. It also makes a workplace a lot less stressful, which employees greatly appreciate.

You Can Identify Talent

Being able to find and identify talent is vital in any business. However, it’s very difficult to do so if employees can’t communicate with their superiors and let them know what they’re really good at. If an employee knows they have a talent for something, but they aren’t able to show that talent off because of miscommunication or lack thereof, then the business is missing out.

They’re also not going to be as productive as another worker who is allowed and encouraged to use their talents and skills on a regular basis. This will cost the business in terms of production and the amount of time it takes to complete these tasks. It can also lead to losing valuable talent because not everyone wants to work in an environment where their talents are squashed.

When people are happier in their jobs, they will become more productive workers. By communicating with your employees and setting clear expectations of them, you can help make sure that they’re not overwhelmed with tasks and will therefore be happier doing those tasks. In the end, this results in a more productive workplace.

Consumer Based Business Leaders Prioritising Growth

Sustainable growth is defined as the annual percentage of increase in sales that is consistent with a defined financial policy (target debt to equity ratio, target dividend pay-out ratio, target profit margin, target ratio of total assets to net sales).

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a multinational professional services network with offices in over 150 countries and territories around the world.

Mike Manby, partner and consumer growth leader at Deloitte: “The rate of change and disruption is making companies rethink what it means to be a consumer business, not just in the short term but also over the next ten years.

Whilst much of the past year has been about survival, consumer business leaders are turning their focus to profit and sustainable growth in the year ahead.”

This is despite the challenges of pressured profits and significant cost reduction programmes in place. Whilst these ambitions mean leaders face the perennial conundrum of how to do more with less, it also sets out a new blueprint for business.

David Sharman, partner and value creation services lead at Deloitte: “With revenues and profits in decline, and uncertainty surrounding the economic recovery from COVID-19, business leaders must make difficult choices.

Survival cannot become the default mindset for consumer businesses. Indeed, when we asked business leaders to identify their strategic priorities over the year ahead growth was their primary concern. At the same time, 81% have made reducing costs a priority, meaning that the pursuit of growth will need to be balanced by financial discipline, and clear targets around return on investment.

Consumer businesses must find a way to do more with less, or at the very least with the same amount of investment to ensure that growth is profitable.”

Key findings in the report:

  • CEO and CFOs of consumer businesses identify priorities for the next 12 months as profitable and sustainable growth, developing existing products and services, and introducing new products and services.
  • Over the same period, however, profits are expected to fall as a result of both COVID-19, and Brexit.
  • Cost reduction programmes are also anticipated to ramp up in 2021 due to the pandemic, and ongoing impact of Brexit.
  • In the short term, the highest risks to business growth are identified as COVID-19 and the state of the United Kingdom economy. Over the next five years, this is superseded by competition from challenger brands and new entrants and disruptive business models. However, the biggest threat to growth over the decade is identified as climate change.
  • 65% of leaders do not see the switch to online as a risk in future, as their response to COVID-19 pandemic has strengthened the online presence of consumer businesses.

Law Firm Advises E-Commerce Fashion Company

Mytheresa is a German e-commerce luxury fashion company, with headquarters in Munich, Germany. Founded in 2006, it operates local-language based websites for international markets in English, German, Spanish, French, Italian, Arabic, Chinese and Korean. Its Chief Executive Officer is Michael Kliger.

Multinational law firm Baker McKenzie advised MYT Netherlands Parent B.V., the parent company of luxury e-commerce platform Mytheresa, in its approximately USD 407 million initial public offering of American Depositary Shares.

Mytheresa’s ADSs now trade on the New York Stock Exchange under the symbol “MYTE.”

The Baker McKenzie team included Roger Bivans, Chris Bartoli, Leif King, Eric Mattingly, Jamie Nix, Jeremy Poore, Derek Liu, Tom Asmar, Jonathan Martin, Robin Chesler, Christoph Wolf, Bernhard Trappehl, Kim Tan, Rebecca Kuijpers-Zimmerman, Ulrich Weidemann, Denise Ozmis and Willem Treuren, and numerous other team members in the United States, Netherlands, Germany and other countries.

Baker McKenzie is a transactional powerhouse with over 2500 deal lawyers and expertise in over 46 countries.

Our strong global reputation for both issuer and underwriter counsel is based on our ability to successfully navigate the highly complex mix of legal system and cultures in complex cross-border and domestic equity and debt offerings.

Michael Kliger has served as Chief Executive Officer and as a member of our Management Board since September 2020. He has served as President and Chief Executive Officer of mytheresa.com GmbH, Theresa Warenvertrieb GmbH and MGG since March 2015.

Baker McKenzie Overview

Baker McKenzie is a multinational law firm headquartered in Chicago, Illinois. Founded in 1949 as Baker & McKenzie, it has 77 offices in 46 countries, and over 6000 lawyers worldwide.

It is one of the largest law firms in the world by headcount and revenue.

Gerald Singham Appointed Global Vice-Chair & Chief Executive Officer

Gerald Singham, Managing Partner at Dentons Rodyk, a member of the world’s largest law firm, has been appointed as Global Vice-Chair & ASEAN Region CEO.

Gerald has spent his entire professional career with Dentons Rodyk and served as the firm’s Deputy Managing Partner from 2011 to 2020.

He is named in numerous legal guides and directories including the Chambers Asia-Pacific, The Legal 500 Asia Pacific, Global Competition Review, Who’s Who Legal, IFLR1000, Asialaw Leading Lawyers and Best Lawyers. He also serves on the boards of several companies and statutory boards. For his many contributions to the community, he was awarded the Public Service Star National Day award.

“The ASEAN region has become one of the most dynamic drivers of today’s global economy, and I am energised to lead our offices in Singapore, Indonesia, Myanmar and Malaysia as we continue to deliver exceptional quality to our clients in this decade of new opportunities,” said Gerald Singham, Managing Partner at Dentons Rodyk and Global Vice-Chair & ASEAN Region CEO.

About Dentons

Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons’ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services.

Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Norton Rose Appoints Gerry Pecht as Global Chief Executive

A chief executive officer, chief administrator officer, central executive officer, or just chief executive, is one of a number of corporate executives in charge of managing an organisation – especially an independent legal entity such as a company or non-profit institution.

Norton Rose Fulbright announced today the election of Gerry Pecht as Global CEO of Norton Rose Fulbright, effective January 1, 2021. Gerry Pecht will succeed Peter Martyr, who has led Norton Rose and then Norton Rose Fulbright since 2002.

Gerry concentrates his practice in the area of complex business and commercial litigation, including securities litigation and enforcement, energy litigation, internal corporate investigations and international litigation and arbitration. Gerry regularly represents Fortune 500 companies and their officers and directors.

Peter Martyr, Norton Rose Fulbright’s Global CEO, added “Gerry is a highly experienced business leader, with whom I have worked closely over the past eight years. Gerry is a United States lawyer with a global personal and professional background, making him well equipped to drive the firm’s global business transformation strategy.

The firm is in good hands, and I am certain it will flourish under his leadership.”

Gerry has been a member of the firm’s Global Executive Committee since 2013 and has served as Global Head of Dispute Resolution and Litigation since 2014. He joined our Houston office in 1980 and was named a partner in 1987.

Regularly representing publicly traded companies located both within and outside the US and their officers and directors, Gerry built a commercial litigation practice focused on securities litigation and enforcement, energy litigation, internal corporate investigations, international litigation and arbitration. Both Chambers USA and The Legal 500 United States have recognised Gerry for his work in securities litigation.

Norton Rose Fulbright is an international law firm. It is the second largest law firm in the United States and one of the ten largest in the world, by both lawyers and revenue. In 2017/18, Norton Rose Fulbright had total revenue of US$2.1 billion.

Members Excellence and Community Service

Community service is unpaid work performed by a person or group of people for the benefit and betterment of their community without any form of compensation. Community service can be distinct from volunteering, since it is not always performed on a voluntary basis and may be compulsory. 

HealthTrust today recognised five member organisations with its most esteemed honour, the Member Recognition Award, during the annual HealthTrust University Conference under way at the Gaylord Opryland Resort and Convention Centre.

Built on our superior operator heritage, HealthTrust also offers a comprehensive set of advisory services to help healthcare providers make the most of our supply chain, workforce and clinical integration capabilities.

That heritage is shared with our sister company, Parallon. Parallon brings decades of experience optimizing the financial health of its clients by addressing complex challenges spanning the revenue cycle.

HealthTrust established the Members Awards in 2009 to acknowledge outstanding contributions of organisations and individuals who demonstrate excellence in supporting providers, patients and their communities.

HealthTrust president and Chief Executive Officer, Edward Jones, presented awards to the following HealthTrust members.

In addition to being honoured at the conference, award recipients will be featured in the fall issue of The Source magazine for HealthTrust members.

HealthTrust Overview

HealthTrust is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage operator experience, scale and innovation.

Headquartered in Nashville, Tennessee, HealthTrust serves over 1600 hospitals and health systems, and more than 40000 other member locations including ambulatory surgery centres, physician practices, long-term care and alternate care sites.

On Twitter @healthtrustpg