< Previous20 Business Link www.blmforum.net RELOCATION AND INWARD INVESTMENT with responsible practice, it’s important to consider that costs are not being cut unnecessarily to take unfair advantage of another country’s economy, or worse its workers. Here’s where inward investment comes into its own alleviating the potential insensitivity of relocation for profit, and instead inviting companies in those areas to invest in your products and ideas. When responsibility and compassion are duly considered, inward investment can be an effective way for companies to attract and retain top talent, particularly in industries where there is a shortage of skilled workers. Casting out your recruitment net to people from different cultures than your own affords a broader choice of employees with more variety in skill set, true enough. But your business can also stand to benefit from greater diversity of experiences and ideas, provided you make the effort and space to listen to every individual you take on. You may never know where the next innovation will come from to take you to the next level of reach or income. Your competitive edge comes from being open to exploring every new angle for expansion, and a multitude of minds will provide a more detailed image of your potential than a single CEO, or even a board of operatives from the same culture and skillset. The encouragement of innovation from the inside out is more likely to stimulate the productivity of your workforce; this is the power of welcoming your employees to have a say in your business’s future, and allowing them an emotional stake in its development by including them in this way. You may even find opposing companies vying to compete with your company’s combined imaginative freedom, a deeply influential engine for innovation for the good of cultural development beyond mere acquisition of capital, and making your product more readily and affordably available to consumers. In this direct line from openness of 18-21.qxp_Layout 1 02/05/2023 15:11 Page 3www.blmforum.net Business Link 21 RELOCATION AND INWARD INVESTMENT mind through to the actioning of innovation and inspired competition, you can begin to see inward investment’s potential to bring new technologies, expertise and best practices not just to your business, but to the wider world. Locally, this benevolent way of working can help to develop local workforces and job opportunities, stimulating advancements in the surrounding culture’s technological progression, wealth and wellbeing. Such a beneficial transfer of knowledge and skills, which may also help to stimulate economic growth and improve living standards, works with your company to further support its development, facilitating more ambitious corporate goals. All of which lead inevitably back to the thing that makes the world go round. Through each of its tangential rewards, inward investment ultimately provides a company with access to additional capital, which can help expand operations, develop new products, or invest in research and development. It can be a perpetual virtuous cycle which builds on any business’s ability to grow and gain more competitive advantages over its rivals. Both relocation and inward investment can be important leaps to take when considering the growth or expansion of a business. The two facets often complement each other, with the potential to be used and combined differently depending on the goals of your enterprise. Your company might relocate its operations to another country and simultaneously invest in the local economy, creating jobs and providing training for local workers. By doing so, the company can benefit from lower costs and access to new markets, while also contributing to the development of the local economy. Or you may opt to attract foreign investment by offering incentives such as tax breaks, streamlined business regulations and access to a skilled workforce. Each one takes work, patience and the determination to stick to one’s goals, but with every effort put in, the possibilities for either opportunity are endless. © stock.adobe.com/BCFC © stock.adobe.com/fizkes 18-21.qxp_Layout 1 02/05/2023 15:11 Page 422 Business Link www.blmforum.net ONLINE TRAINING A shift towards 22-25.qxp_Layout 1 02/05/2023 15:13 Page 1www.blmforum.net Business Link 23 ONLINE TRAINING © stock.adobe.com/insta_photos In the world of hybrid and remote working, the way people learn and develop their skills has been forever changed. Online training has become increasingly popular as it can offer the in-depth and personal experience offered by in house trainers, whilst allowing employees to access it from various locations. Online training can also take many forms to suit various training needs. Sessions can be held live but remotely (over Microsoft Teams for example) with a licensed trainer, or companies can purchase online courses for employees to go through at their own pace. One of the most significant benefits of online training is its flexibility and convenience. Online training allows learners to access training materials at any time, from anywhere. Sessions can also be recorded and downloaded, so that employees who travel frequently can 24 Á 22-25.qxp_Layout 1 02/05/2023 15:13 Page 224 Business Link www.blmforum.net ONLINE TRAINING access materials without an internet connection. This flexibility means that learners can learn at their own pace, fitting their training around their schedule and other commitments. In contrast, in- house training often requires learners to attend a specific location at a set time, which can be disruptive to their work schedule. This is beneficial for both employees and the wider business needs, as training can more easily be postponed if urgent matters arise. Online training often offers self-paced learning opportunities, which can be beneficial for learners who have different learning styles and preferences. With self- paced learning, learners can review material as often as they need to, ensuring that they fully understand the content before moving on to the next topic. In contrast, in-house training often requires learners to keep up with the pace of the class, which can be challenging for those who need more time to absorb the material. This self- paced approach to training is especially necessary for employees with additional learning requirements. This allows all employees to feel comfortable with the role, increasing productivity. Furthermore, businesses are able to recruit employees with a wide range of educational needs, as they have appropriate learning support in place. This is especially prescient as the current dearth of prospective employees means that companies need to be able to appeal to many different groups of people. Online training often offers individualized learning opportunities, which can be beneficial for learners with different levels of knowledge and experience. With online instructor-based training, learners can choose to focus on the areas they need to develop their skills, rather than having to participate in a one-size-fits-all training program. Additionally, learners can access additional resources and support if they need it, which can help them to overcome any barriers they may face. The availability of functions such as online chat means that ad-hoc support can be more accessible, if trainees have questions after the session has ended. The opportunity to ask questions in the moment is vital for successful learning, as trainees may forget to ask if they have to wait too long. The opportunity to ask someone online for help also removes any embarrassment that trainees may feel, meaning that the level of in-depth engagement with training material is often higher than if it were taught in person. Online training is also often more cost- effective than in-house training. With online training, there are no travel expenses or accommodation costs to worry about, as it may be necessary to hire conference rooms if office space is scarce. This means that if certain employees are not available, businesses can more easily schedule additional sessions. Additionally, online training can be easily scaled to accommodate a large or small number of learners without incurring additional costs. Online training can also help to reduce business costs. Many industries are faced with a lack of new talent to recruit, and so are turning to upscaling existing employees rather than taking on new ones. An easy way to do this is through intensive short courses to encourage new skills for employees, to allow them to take on extra responsibilities. By upskilling current staff, the business is saving money in onboarding and salary costs. Some logins for online courses can be purchased and given to multiple employees, further reducing costs. For companies concerned with accessing real time feedback, online instructor led sessions can provide this. This way of learning can be beneficial for learners who want to track their progress and improve their skills. With online training, learners can receive immediate feedback on quizzes and assessments, which can help them to identify areas where they need to focus their attention. In contrast, in-house training often relies on written evaluations, which can take time to receive and may not provide as much detail as online feedback. Online training often offers consistency l Delivering Mental Health First Aid Training & Courses to help improve wellbeing in the workplace for employees and employers. l Line managers master classes for Mental health l Bespoke company support packages To find out more about mental health first aid courses in Hull and East Yorkshire, get in touch with Paul on 07702 177764 / 01482 564215 or email paul@thinkmentalhealth.co.uk Think Different Do Different 22-25.qxp_Layout 1 02/05/2023 15:13 Page 3www.blmforum.net Business Link 25 ONLINE TRAINING in content delivery and assessment. With online training, learners receive the same content, regardless of where they are located, ensuring that all learners receive the same quality of training. Additionally, assessments are often standardized, which can help to ensure that learners are evaluated consistently, regardless of who is delivering the training. Ultimately, online training offers many benefits over in-house training. It provides flexibility and convenience and is cost-effective for businesses, as the ability to schedule around other priorities is great for business needs. For the trainees, the offer of self-paced and individualised learning is a format that many prefer. These benefits make online training an excellent option for organizations that want to develop their employees’ skills and knowledge while minimizing the costs and disruptions associated with traditional in-house training programs. Bespoke training solutions Lincolnshire & Counties Training Solutions (LACTS) deliver high-quality training solutions across the UK that are typically delivered at your business premises, ensuring the most cost- effective and efficient use of your personnel’s time. We are recognised and authorised by the leading UK governing bodies such as, QNUK, FAIB and BALI to train accredited Food Safety, Health and Safety, First Aid, Fire Safety, ROLO and a host of other qualifications throughout the whole of the UK. © stock.adobe.com/Angelov 22-25.qxp_Layout 1 02/05/2023 15:13 Page 426 Business Link www.blmforum.net ENERGY AND ENVIRONMENTAL MANAGEMENT C orporate waste is a significant problem that affects not only the environment but also the economy. The UK government continues to ramp up the pressure for businesses to reduce waste, setting higher penalties for inappropriate corporate waste disposal last year. The first step in reducing corporate waste is to conduct a waste audit. This involves identifying the types and quantities of waste that are generated by the corporation, as well as where and how they are generated. By doing this, corporations can identify areas where waste reduction efforts can be focused. For example, construction companies will naturally produce greater amounts of construction waste than office waste. Disposal requirements vary depending on the nature of the waste, so it is important to check the correct disposal methods on the government website. Furthermore, any waste disposal companies you instruct must be registered business waste carriers and authorised to dispose of that particular waste category. Business registration numbers can be checked on Gov.uk. Once a waste audit has been conducted, the corporation should use the findings to set targets and goals for waste reduction. In order to ensure that the targets are realistic, the SMART method for goal setting is often used. SMART stands for Specific, Measurable, Achievable, Relevant and Time Bound. This helps companies to set a series of targets that will help achieve wider goals, such as reducing waste by a percentage, or working towards zero waste. For example, a corporation might set a target of reducing its paper usage by 50% within a year. By setting targets and goals, corporations can measure their progress and identify areas where they need to focus their efforts. The The waste problem The waste problem Reducing corporate waste is increasingly being viewed as essential for assuring the long-term future of businesses, both to save money but also avoid costly government penalties. 28 Á 26-29.qxp_Layout 1 02/05/2023 15:15 Page 1www.blmforum.net Business Link 27 ENERGY AND ENVIRONMENTAL MANAGEMENT © stock.adobe.com/lovelyday12 26-29.qxp_Layout 1 02/05/2023 15:15 Page 228 Business Link www.blmforum.net ENERGY AND ENVIRONMENTAL MANAGEMENT time bound element of SMART is particularly important when discussing company trajectory, as this is what is going to keep the pressure on to make continuous and meaningful change. Longer term targets could incorporate checkpoints at regular intervals. For example, if the time frame given is a year, quarterly reviews could be held to ensure that the goal remains on track. Adjustments to the target can then be made to make the goal more realistic. The targets set should then be used to form the basis of the waste management plan. This is a comprehensive plan that outlines how a corporation will manage its waste. This plan should include strategies for waste reduction, reuse, and recycling. It should refer back to the initial audit to identify areas where waste can be reduced, such as packaging, office supplies, and energy usage. Three of the most commonly identified areas of corporate waste are packaging (from manufacturing products, or using them), insufficient recycling initiatives, and energy wastage. One of the biggest sources of corporate waste is packaging. Corporations can reduce packaging waste by using eco-friendly packaging materials, such as biodegradable or compostable materials. Buying refill packs of commonly used items such as soap, rather than products contained within dispensers are easy ways to reduce packaging. Investing in dispensers, then bulk purchasing soap refills will also be more cost effective for the business. Product manufacturers will be aware of the rising trend for reusable packaging. By redesigning single use packaging to slightly more expensive materials, such as © stock.adobe.com/gmg9130 26-29.qxp_Layout 1 02/05/2023 15:15 Page 3www.blmforum.net Business Link 29 ENERGY AND ENVIRONMENTAL MANAGEMENT bamboo or reinforced card, this increases the value of their product. Creating reusable packaging also allows brands to showcase their green credentials, which will help to retain the loyalty of ethically conscious customers. In 2023, a reduce, reuse, recycle programme is generally expected within any workplace. As a business, there is a government mandated responsibility to prevent, reuse, recycle or recover waste wherever possible. Preventing waste is the top priority, and for office-based businesses this often means trying to go paperless. This can be easily achieved by investing in cloud based systems such as Google Drive or SharePoint to save copies, rather than keeping physical files. This has the dual benefit of being less likely to be lost, increasing elements of security. Reducing the amount of stationery needing to be purchased offsets the costs of cloud based storage. Another way to reduce corporate waste is to use energy-efficient equipment. Switching from halogen to LED lights, and conducting an audit on existing HVAC (Heating, Ventilation, and Air Conditioning) systems will reduce energy usage and save money on utility bills. Conducting minor upgrades now will ensure higher efficiency for longer. Finally, corporations should promote a culture of sustainability within their organization. This can include educating employees on the importance of waste reduction and sustainability, as well as providing incentives for sustainable behaviour. This could also include training programs to ease employees into the new way of working. For example, paperless only works if everyone understands how to access the cloud. Providing some training on correct online storage methods will ease concerns over saving and retrieving information. By promoting a culture of sustainability, corporations can encourage their employees to become more environmentally conscious and to contribute to waste reduction efforts. Reducing corporate waste is increasingly being viewed as essential for assuring the long-term future of businesses. By conducting a waste audit, setting targets and goals, implementing a waste management plan, companies can easily identify areas of waste to be tackled. Understanding the most common areas of waste by researching industry trends will allow businesses to stay on top of their competitors by implementing rigorous green initiatives, pleasing customers along the way. Promoting a culture of sustainability is essential to waste management strategies, as all employees need to be invested in the initiative for the full benefits to be realised. © stock.adobe.com/Yingyaipumi 26-29.qxp_Layout 1 02/05/2023 15:15 Page 4Next >