Business
Why sales skills are key to helping businesses survive the recession
The financial headlines certainly aren’t great as we head into 2023. KPMG reports that 61% of consumers plan to cut discretionary spending in 2023, while just 4% plan to increase it. That’s a painful outlook for businesses across a wide range of sectors, given that many shoppers already tightened their belts during 2022.
Meanwhile, the services industry in Britain has contracted for three consecutive months, with the final purchasing managers’ index (PMI) from S&P Global and the Chartered Institute of Procurement and Supply hitting 49.9 in December 2022. Anything below 50 indicates a contraction. Gabriella Dickens, senior UK economist at consultancy Pantheon Macroeconomics, sums it up succinctly:
“December’s PMI data are consistent with the UK economy sliding into recession.”
Some businesses have been quick to respond to the situation by laying off staff. Doing so can quickly reduce a company’s outgoings. It can also be a major mistake.
Why? Well, there’s no harm in a company trimming and reshaping roles if doing so means that it can operate more efficiently while still achieving the same outcomes in terms of productivity, customer service and so on. However, laying off staff as a knee-jerk response to a reduction in income smacks of poor long-term planning.
Sales teams are often particularly vulnerable to this. After all, if consumers aren’t spending, there’s no point in having sales staff, right? Surely the best plan is to lay off the sales team and then recruit them again in a few months’ time, once things are back to normal.
No, no, no. Sales staff who are unable to hit their targets due to a recession need to be nurtured and retained, not let go and later replaced. According to Centric HR, it can cost between six and nine months’ salary on average to replace a salaried employee when you factor in recruitment and training, as well as salary and on-costs. And that’s not accounting for the cost in missed opportunities as the new employee gets up to speed.
Instead, it can be far better to focus on retaining an existing team. Their knowledge of the business, including its products and clients, will have been built up over time. A company that keeps this team in-house will be able to tap into that knowledge and experience the moment the economy starts to pick up again. A competitor who has let their sales team go, on the other hand, will have to start all over again – they certainly won’t be poised to begin thriving the moment the UK starts heading out of recession.
It will be sales skills that lie at the heart of that ability to seize the moment and support a business to thrive. That’s why it is so important for businesses not only to retain their sales teams but also to support them by getting rid of pre-recession targets that are now much more difficult to achieve. Sticking to targets that applied a year or even six months ago will do little for a team’s morale during the current situation.
Rather, businesses can show their support for sales teams by investing in training, development and team-building activities. They can nurture the growth of stronger teams and revisit core skills to ensure that every individual feels confident in their position.
None of this is to say that targets need to slip entirely into obscurity – but focusing on increasing market share might be a better approach than sticking with rigid sales targets. After all, any gains in market share over the coming months of recession will pay impressive dividends once the economic situation turns around.
Strong sales skills will be key to success when that day comes. Teams that have focused on these during the recession will be chomping at the bit to return their company to full strength once it is over.
Throughout all of this, it is important to remember that most companies live or die by the performance of their sales teams. Product quality and customer care of course also play a big role in success, but it is often the sales staff who are the main source of a company’s lifeblood – its income. Any company that forgets this and lays off its sales team as part of a “strategy” to weather the economic storm may find that it quickly becomes unstuck. Short-term gains in terms of income reduction indicate a worrying, short-term approach. It will be those companies with their eyes on the horizon – on the potential that exists when a country comes out of recession – that will be the ones to thrive in the longer-term.
Author bio: Paul Owen founded his firm – Sales Talent – in London back in 2011. In the decade since, he has helped well over 10,000 people improve their sales skills through his consultancy, training services and podcast. He has delivered seminars at 40+ universities and became an Amazon Bestseller and shortlisted for Business Book of the Year 2018 when he published his book, Secret Skill, Hidden Career.
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Business
Driving UK business growth with AI reskilling, even during economic uncertainty
Alexia Pedersen, SVP International at O’Reilly
Amid ongoing economic challenges, UK businesses are grappling with salary stagnation and limited hiring. Employees, eager to advance their careers, are turning to digital reskilling as a pathway forward. Our latest research found that almost four in five (79%) UK employers have seen staff request digital upskilling opportunities over the last twelve months to strengthen their career prospects, particularly in roles linked to emerging technologies like AI and machine learning (ML).
Our platform has witnessed a surge in demand for learning resources on AI programming (66%), data analysis (59%), and operational AI/ML (54%) learning materials. We’ve also seen an uptick in demand for general AI literacy as IT teams encounter the hallucinations generative AI tools can exhibit.
However, given the accelerated integration of generative AI in most enterprises, the need for general AI literacy has extended beyond IT teams. In fact, 60% of enterprises are expected to have adopted generative AI in some form by the end of this year. Yet, while most business leaders agree their workforces need to be reskilled in GenAI, only 10% of workers are currently trained in GenAI tools. Now, non-technical employees are now seeking reskilling opportunities in AI and ML, cybersecurity, data analysis and programming.
This shift reflects widespread recognition of how emerging technologies can redefine roles and unlock new opportunities. So, how can employers ensure that every employee – not just IT – develops the skills to navigate and leverage AI and other digital tools?
Cultivating a culture of continuous learning
The integration of digital technologies requires more than just adopting the latest tools; it demands a skilled workforce committed to long-term innovation and growth. Businesses deploying AI must prepare every employee to effectively use these tools. Here, a continuous learning approach will ensure that digital transformation benefits the organisation at every level, driving resilience and adaptability within an evolving tech landscape.
Embedding learning in daily workflows, encouraging curiosity, and supporting tailored development initiatives can help achieve this goal. Cross-functional collaboration and knowledge-sharing can help to break down silos, allowing diverse perspectives to be shared amongst teams.
To foster a culture of continuous learning, people teams should emphasise to management the importance of “re-recruiting” to highlight the value of continuously investing in and engaging with talent as consciously as during the hiring process. The best results stem from having an executive sponsor who leads by example, championing learning at all levels. At the same time, employees should feel empowered to take ownership of their own growth, creating a culture where development is an ongoing, shared responsibility between individuals and the organisation.
Joining a company is only the beginning, and sustaining a valuable relationship depends on both the organisation’s support and the employee’s commitment to their own continuous development. To thrive, employees must actively seek out skill-building opportunities and leverage the learning resources available to them. Doing so will help employees remain agile within an evolving technological landscape, while also enhancing their own productivity and contributing to overall organisational success.
Real-time learning
For employees seeking opportunities for personal growth, to bridge the gap between learning and day-to-day responsibilities, employers can harness the ‘in the flow of work’ approach to provide staff with real-time access to quality learning content.
This concept was coined by Josh Bersin to describe a paradigm in which employees learn something new, quickly apply it and return to their work in progress. It’s different from traditional learning approaches like attending a seminar or conference. These learning formats are effective, but many employees simply don’t have the time to devote to them or they prefer to learn at a time that suits them best.
Instead, it entails providing employees with tools that allow them to quickly find contextually relevant answers to their questions at a time that suits their schedule. Companies can offer ‘in the flow of work’ learning opportunities via an L&D partner to tailor materials to an individual’s unique learning style and objectives.
This is particularly important not only for young talent who are new to the workforce but also for existing employees who are proactively seeking opportunities to develop their skills and advance their careers. In turn, this approach to workplace learning will increase employee engagement and productivity, fostering innovation and growth that improves the bottom line.
Preparing for the future
As businesses face a rapidly evolving landscape, a continuous learning strategy focused on digital reskilling and upskilling can help them remain competitive. It empowers employees to take charge of their personal growth, fostering a resilient workforce prepared for tomorrow’s challenges.
For companies navigating hiring freezes or budget constraints, prioritising AI literacy and skills development amongst their employees in critical areas such as cybersecurity, cloud, and data analysis can help drive productivity and innovation while ensuring that organisations remain agile during times of technological change. Above all, supporting reskilling today will develop the foundations for a thriving, adaptable workforce ready to face tomorrow’s challenges.
Business
Freeze-Drying: A Sustainable Solution to Food Insecurity and Waste
By Sverre Puustusmaa, CEO & Founder, Tactical Solutions
The world faces a dual food crisis: widespread insecurity, with over 700 million people going hungry, and massive waste, with nearly 40% of food lost globally each year. This contradiction is staggering, but thankfully innovative technologies are offering hope.
Freeze-drying provides an effective solution to both of these challenges. This process can preserve food for up to 25 years while retaining 97% of its nutritional value, the process addresses critical issues of spoilage and accessibility. Additionally the lightweight, shelf-stable characteristics of freeze-dried food makes it ideal for emergency relief, global aid distribution, and supplying remote regions.
Freeze-drying improves food security and reduces waste by preserving surplus produce for future use. Compared to traditional preservation techniques, the method lowers greenhouse gas emissions and consumes less energy. As population growth and climate change exacerbate global challenges, freeze-drying could be crucial in developing a sustainable and resilient food system.
What is Freeze-Drying?
Freeze-drying is a preservation method that involves first freezing the food, then using a vacuum to remove water through a process called sublimation. Freeze-drying helps retain the food’s nutritional value, preserves its texture and flavor, and extends its shelf life without the need for refrigeration. Unlike traditional dehydration, which uses heat and can degrade both nutrients and taste, freeze-drying results in a lightweight product that is ideal for storage and transport.
Freeze-drying is a versatile process that can be applied to various types of food, including fruits, vegetables, dairy products, and complete meals.
Emergency Relief Support
As food insecurity becomes a growing global challenge, innovative technologies such as freeze-drying offer essential solutions. This method preserves food in a way that maintains the benefits of the original product, effectively bridging the gap between surplus resources and areas facing scarcity. From emergency aid to improvements in long-term supply chains, freeze-drying addresses a wide range of needs in the fight against hunger.
In humanitarian crises caused by natural disasters, conflicts, or pandemics, rapid access to nutritious food is vital. Freeze-dried meals are lightweight, compact, and easy to transport, making them ideal for emergency responses. With the simple addition of water, these meals can provide essential nutritions, even when infrastructure is compromised.
For isolated or underserved regions, where fresh produce is scarce due to logistical challenges, freeze-dried food offers a reliable alternative. Its long shelf life and nutrient retention ensure that communities can access essential vitamins and minerals without dependence on regular supply chains.
Freeze-drying also reduces spoilage during transit, which is especially important when moving food across long distances. Its reduced weight lowers transportation costs, while its durability minimises losses caused by handling and environmental factors.
Addressing the Food Waste Pandemic
Food waste is a major contributor to global greenhouse gas emissions, with approximately 8 – 10% attributed to discarded food. Freeze-drying can play a significant role in reducing this waste by preserving the surplus of food that goes unused everyday. For example, peak harvests that would otherwise go unsold can be processed into freeze-dried products, extending their usability and preventing spoilage.
By requiring no refrigeration during storage or transportation, freeze-dried products significantly reduce energy consumption and associated carbon emissions. These attributes make the technology a key player in building resilient, sustainable food systems.
This approach turns potential waste into a valuable, long-lasting resource. Additionally, freeze-drying uses less energy than methods like canning or freezing, making it a more sustainable choice for large-scale food preservation.
Economically speaking, freeze-drying supports local producers by creating markets for surplus crops that might otherwise be discarded. It also empowers aid organisations by enabling them to stockpile food supplies for future crises, reducing reliance on reactive procurement.
The Future of Freeze-Drying
As the global population is projected to reach 9.8 billion by 2050, the demand for food is expected to increase by 60%. This growing need will require new and innovative approaches to production, preservation, and distribution. Freeze-drying offers a scalable solution that can meet these demands while addressing sustainability goals.
For governments and organisations, investing in freeze-drying technology and infrastructure presents an opportunity to enhance food security, reduce waste, and mitigate the environmental impact of food systems. By integrating freeze-drying into supply chains, nations can build resilience against future disruptions, including climate change and geopolitical instability.
Freeze-drying is more than a technological advancement – it’s a critical tool for addressing the interconnected challenges of food insecurity and waste. By extending shelf life, retaining nutritional value, and reducing spoilage, freeze-drying has the potential to reinvent how we store and distribute food.
As the world faces growing environmental and humanitarian challenges, embracing sustainable innovations like freeze-drying will be essential to creating a more equitable and food-secure future. Through collaborative efforts between governments, aid organisations and private bodies, this technology can help reshape global food systems for the better, for everyone.
Bio:
Sverre Puustusmaa is the CEO and founder of Tactical Solutions, a company he established in 2016. With a background as a soldier in the special forces and a medic in challenging conditions, Sverre was inspired to create a solution to the low-quality military rations he encountered during critical missions. His frustration with inadequate food led to the development of a solution that prioritises high-quality, nutritious meals in all conditions.
Under Sverre’s leadership, Tactical Solutions has pioneered innovations in food technology and sustainability. The company’s mission is to deliver nutritious, economically efficient food solutions without compromising on taste, embodied through successful brands like Tactical Foodpack and Chef Urban. Sverre’s focus on quality drives his commitment to ensuring that food should never be compromised.
Business
Beyond oil: Unlocking the potential of the lubricant industry
By Leyla Alieva, Co-Founder and CEO of NEOL Copper Technologies, and Paul Whiting, CEO of Delta-Xero
The lubricant industry is an important yet often overlooked cornerstone of the global economy, ensuring the seamless operation of machinery across numerous sectors. Despite its importance, the sector doesn’t get the attention it deserves. Many businesses underestimate the value and capabilities of advanced lubrication programs, leading to missed opportunities to maximise the efficiency and lifespan of equipment, as well as prevent the excessive consumption of oils.
As industries face growing pressure to prioritise sustainability and reduce carbon footprints, the use of traditional lubrication practices is becoming a significant challenge. Businesses need to consider not only the technical performance of lubricants but also their environmental impact—both in production and usage. Companies must shift their focus toward selecting, and investing in, more sustainable and efficient lubrication solutions, driving their respective industries to resilience through circular economy.
Critical role of lubricants in driving efficiency
Lubricants are far more than a technical necessity—they’re vital for minimising friction, reducing wear, preventing unexpected downtime, and extending the life of equipment. High-quality lubricants can significantly decrease maintenance costs and operational downtime. For instance, in sectors like transportation, efficient lubrication can enhance fuel economy and reduce emissions.
However, many businesses in the UK are still unaware of these benefits. Too often, users opt for cheaper oils, without realising the long-term costs to machinery performance and environmental sustainability. At the same time, equipment failures are frequently blamed on oils, when the real culprit is poor oil management.
This highlights a pressing need for education around the advantages of advanced lubrication. By providing education on innovative lubricants and lubrication practices, companies can empower users to make informed choices, which ultimately leads to better machinery performance and reduced waste. For instance, synthetic base oils additised with copper filming technology allow companies to maintain machinery efficiency without aging, breakdowns, or toxic emissions.
Addressing the environmental impact of lubricants
As the push toward Net Zero 2030 intensifies, industries can no longer ignore environmental pressures. The lubricant industry contributes to carbon emissions through oil and natural gas extraction, production, and disposal. But there are solutions on the horizon to minimise this contribution —innovative companies are leading the charge toward sustainability. A combination of high-quality synthetic lubricants and filtration can significantly reduce the overall consumption of lubricants and associated carbon emissions.
Additionally, this “dynamic duo” can reduce the frequency of oil changes, leading to lower waste generation and reducing the overall cost of lubrication. Extending lubricant lifespans through innovative filtration solutions could revolutionise lubricants sector and dramatically reduce environmental impact.
Embracing the circular economy
The lubricant industry is beginning to embrace the principles of the circular economy, prioritising value over volume, a shift that is redefining its future. Traditionally, spent lubricants were treated as waste, but that mindset is also changing. Recycling and reusing oils is no longer just an option—it’s a necessity. Reconditioning used oils by removing contaminants and restoring their properties conserves valuable resources and reduces environmental harm.
Major oil companies are now exploring oil filtration and recycling as viable solutions, signaling a shift toward sustainability. This is more than a trend; it’s a transformative movement reshaping the industry.
While synthetic lubricants are typically more efficient than conventional oils, their higher cost has deterred many industries from making the switch. However, as filtration methods advance extending their useful life, the long-term cost savings of synthetic lubricants become clearer and adoption rates are expected to rise.
Looking forward
Machinery lubrication plays a critical role in addressing some of today’s biggest industrial challenges, from improving performance to reducing carbon emissions. Advanced lubrication practices not only extend equipment life and enhance efficiency but also help cut waste and support sustainability. By adopting innovative solutions like reconditioning oils and synthetic base oils, businesses can drive operational success while reducing their environmental impact.
As the industry evolves, it’s crucial to recognise the potential of advanced lubricants in solving both business and environmental issues. They are more than just maintenance tools; they are key drivers of sustainability and efficiency. By embracing these innovations, companies can boost their bottom lines while contributing to a more sustainable future for the planet.