OUR LATEST INSIGHTS

Up to date, high-level business information that is relevant to our clients and contacts, helping keep up to date on the ver-changing business world of today.

Learn More

Cal Wilson / April 19, 2021

Is your Business Impacted by the Global Shipping Container Shortage?

You may have seen a meme or two about the Suez Canal recently, but you may not know it was only one part of a global shipping crisis. The international economy is experiencing a shipping container shortage that is impacting businesses big and small.  

As of right now, containers used to ship larger or bulk product are in high demand and low supply, sending delivery speeds and prices skyrocketing. According to German media outlet Deutsche Welle, some manufacturers shipping product out of China have seen an increase by as much as 100 percent from the beginning of 2020 to now.  

Not only is there a lack of container availability, but physical space on cargo vessels is also low. This is the result of a stark increase in demand over the past year, paired with an inability of the industry to keep up. Before the pandemic, there was not a financial incentive for shipowners to grow their fleets; now they are struggling to meet the ever-increasing demand. 

COVID-19 disrupted the shipping industry.  

Consumer demands caused by lockdowns across the world reignited the shipping industry in a way it had not seen in over a decade. Likewise, various waves of the virus completely halted production in different regions, at different times. Shipping to and from East Asia in the beginning of 2020, causing a supply-chain imbalance that did not quite recover until August. With new waves of lockdowns, and the Ever Given incident in the Suez Canal, we are again thrown way off track.  

Consumer trends during lockdowns have certainly impacted the shipping industry. The past year has seen less money spent on travel and services, and more spent on appliances, furniture, workout and sport equipment, bicycles, and other luxury items that can be enjoyed from home. These products often involve container shipping, and the increased demand has retailers stocking up warehouses pre-emptively. Fleet owners simply cannot meet these demands.  

Port cities are also struggling to adjust. Balancing the consumer need with the realities of the COVID-19 pandemic proves a challenge for some of the world’s biggest hubs. Los Angeles, for example, requires that inbound ships wait ten days before entering the port — which of course is extended if anyone on the crew becomes sick. These are valuable workers, ships, and containers, spending many business days quarantined. While these measures certainly protect us from spreading the virus, they have also presented a big industry problem.  

How is this impacting your business?  

It may seem like a faraway problem, but really, shipping fee increases are likely costing you. From slower speeds, to increased prices, many retailers and other business owners are feeling the consequences of this imbalance.  

If your business is locked into a long-term shipping contract, that was signed before COVID-19, you’re one of the lucky ones. For many businesses though, old contracts have not been enough to satiate new demands.  

For North American exporters, shipping shortages have been an especially painful part of the pandemic. Farmers who provide staple crops to the rest of the world have found it difficult to get their product off the continent. For example, in 2020, China was the leading buyer of Canadian-grown peas. Now, farmers are finding they do not have access to shipping containers to get their product overseas.  

Whether you rely on importing or exporting goods to maintain your business, chances are you’ve been subjected to the repercussions of the shipping crisis, either in cost or in transport delays.  

A solution in sight?  

Experts predict that the shipping demand is not set to ease up any time soon. Hapag Lloyd, a German-based global shipping giant, ordered six new container ships for its fleet before Christmas 2020, but does not expect to see them delivered until 2023.  

Some industries, such as Canadian farmers, have begun lobbying their governments for some kind of regulation to keep them afloat in the midst of this crisis.  

Cal Wilson / April 16, 2021

Helping Your Team Avoid Burnout

We all feel the pressure to get as much done as possible – it’s the way we have been socialized, from school to the workplace. While productivity and hard work are necessary for a business to thrive, so too is protecting your employees from burnout, especially when they are working from home.

During the pandemic, there has been an added cultural pressure to be more productive than ever before. Whether its baking fresh bread every week, or learning a new language, we have all been asked to substitute the time taken up by our previous routine with something arbitrarily worthwhile. Many people have found this increased productivity mindset spilling into the way they work. While that extra effort from a team member is great, it’s also your job as a leader to make sure they don’t burn themselves out.

Think about your team. Who is doing more than usual? Who is volunteering for more than you suspect they truly have the time to complete? Who is taking less time for themselves? Call it Type A, workaholism, or ‘toxic productivity’ – call it whatever you will, but make sure it’s being addressed.

One of the main problems with this compulsive productivity mindset is that it can be fueled by guilt. Employees prone to this behavior may be experiencing a sense of guilt and insecurity for not having done more. Setting impossible standards for productivity, and feeling shame when those are not completed, can also lead to a perception of self-failure, even when the opposite is true.

This burn-out inducing pattern can lead to poorer quality of work, irritability, fatigue and exhaustion, lack of engagement, anxiety, and even physical illness. You care about your employees’ wellbeing, and want to retain talent; advocating for your team before they reach this point is just one of the many ways you can show your strong leadership.

Foster a culture that acknowledges the importance of downtime.

Even if your team insists on jumping from one project to the next, ensure they know they can and should take the proper time to care for themselves, especially outside of work hours.

Lead by example when it comes to self-care. Share with your employees how you prioritize your time off, and take some of the guilt away from the prospect of them completely removing work from their Saturday vocabulary. Make the expectation clear that engagement is important during work hours, and detachment is encouraged outside of that time.

A lot of the time, employees who are prone to ‘toxic productivity’ are anxious that it is required to keep in good standing with their manager. You can nip that in the bud by assuring them that this isn’t the case. Be enthusiastic and acknowledging of their accomplishments and deliverables, not the fullness of their schedule.

Listen.

It’s easy to preach self-care and work-life-balance, but it’s harder to know how your advice is being put to task. Maybe some aspect of your expectations for a team member is preventing them from feeling able to relax outside the workplace.

If you notice an employee struggling, take the time to show concern, ask questions, and graciously accept feedback. If you can take on the role of coach or counsellor to help an employee flourish in their career, that will be hugely rewarding to you, them, and your business.

Don’t Gate-Keep Time Off.

Within the appropriate requirements of their position, allow your employees to take the time off that they need without feeling the need to defend that decision. When sick days and holiday days go unused, you have to ask yourself, does my team feel safe to ask for time off?

Especially when working from home, it can be hard to ask for a day off for something like stress or fatigue. And yet, these conditions can drastically impact the quality of work.

Being understanding, respecting privacy, and giving employees the space to choose themselves can help them develop the trust they need to prioritize themselves.

Cal Wilson / April 12, 2021

Networking opportunities — Tips on how to grow your LinkedIn network.

As the saying goes: “It’s not what you know–it’s who you know.” Every entrepreneur or business owner knows the power of a strong professional network. The right connections can offer access to exciting new opportunities, help to grow your company, introduce you to new leads, and so much more. A strong network is essential to take your business to the next level.

Now that we’ve been through 2020 without in-person networking, social networking tools, such as LinkedIn, have become an incredibly effective way to meet new people and build mutually beneficial relationships virtually. It is especially beneficial if you work remotely, or find that local events are thin on the ground.

LinkedIn is one of the best digital platforms to help grow your professional network, completely dedicated to being a professional medium, making it easy to facilitate connections from wherever you have internet access.

LinkedIn encourages all 700+ million users across the globe, to connect, gather information, and share ideas. It’s an amazing and very powerful tool, to grow not only your business, but also your professional career — the resources are unlimited!

With all of this in mind, here are some tips to help fine-tune your online profile and grow your LinkedIn network.

 

Make your profile public.

By adjusting the customizable settings, this simple change will allow you to show up in searches, and control what information is visible to the public when your profile comes up in a search engine result.

Keep up to date.

When was the last time you updated your profile? Your business goals should be constantly evolving, so updating your profile for accuracy and improvement possibilities is a necessity. Filling out your profile as completely as possible will help to give you the LinkedIn profile and personal brand that you deserve. Your headline is positioned right below your name on your profile and will be the first thing visitors read. Use keywords to describe what you accomplished in the experience fields and don’t waste this valuable space! Add your headshot According to LinkedIn, profiles with headshots are fourteen times more likely to be viewed than those without a profile picture. Be sure to use a photo in which you look professional, and is appropriate for your professional industry. .

Be engaging and active.

Make it a point to be active and consistent on LinkedIn, and see your network get a natural boost! Try sharing your own original content through the publishing platform tool — this allows users to easily publish articles directly on LinkedIn, much like a blog. Showcase yourself in front of others by commenting on posts, and sharing content from people you follow, and you’ll soon find opportunities to get involved in the conversation.

Highlight your account.

Configure your e-mail signature to include a link to your LinkedIn profile. Now, every email you send is an opportunity to increase your social reach. This easily accessible and free marketing tactic can effectively boost extra traffic to your account.

Personalize connection requests.

A network that can generate leads and boost your career should be your target, so sending the same generic connection message to your prospects can hurt your account’s credibility. It’s always a good idea to include a personal note with any connection requests, and this step becomes even more important when you’re reaching out to someone you haven’t yet met or been introduced to. It takes only an extra few seconds, and it makes a BIG difference in getting a response.

Cal Wilson / April 5, 2021

Is your business ready to phase out landline phone systems?

Slowly but surely, landline phone systems are being replaced. In some parts of the world, like the United Kingdom, there are even plans to phase them out entirely by the end of the decade. If your business still uses a landline — even if it’s worked great for you so far — there is a good chance you’ll feel the pressure from your vendors to move to a different voice system soon. 

One of the many available options is a VoIP (Voice over Internet Protocol) phone system. It might sound daunting to make the switch to a system that is out of your comfort zone. The best thing you can do is arm yourself with knowledge beforehand.  

So what is VoIP?  

VoIP allows your team to make phone calls using an internet connect as opposed to phone lines. It can be transmitted through a traditional, physical phone alongside a VoIP adapter, or software, downloaded onto a computer or smartphone. There are also dedicated VoIP phones that look just like a traditional analog phone, but are designed specifically for this technology.  

You’ve probably encountered a VoIP phone call before, even if you didn’t recognize it. If you have ever called a customer support line with an automated directory, such as a bank, chances are good that you connected with their VoIP line. This and a whole host of other features is what makes VoIP really attractive to many businesses.  

Why make the switch?  

One of the main reasons to make the switch to VoIP is the low cost. VoIP calls are made over the internet, meaning that you’re paying for internet service, as well as the software and hardware, and not telephone service fees. Especially when it comes to long distance calling or international calling, this can save you a lot of money.  

While social distancing, VoIP is also a much more practical solution for remote workers. Why pay to install a landline in an employee’s home when you could put a soft phone app on their computer?  

Typically, VoIP phone systems offer more features than landline systems as well. From automated directories to call recording to voice to email services, VoIP comes with a handful of perks that can make your busy work schedule a bit easier.  

In an increasingly digitized world, VoIP phone systems have come to be the expected level of quality that many businesses provide their customers when offering customer service. E-Commerce businesses especially have to rely on this technology, when they have customers making purchases and needing assistance from various time zones across the globe. Not only do VoIP’s features allow for a more seamless experience for the customer when no one is available to pick up the phone, but they also ensure that you can have phone agents set up anywhere at any time.  

VoIP systems allow you to integrate the voice experience with other platforms, as well. For example, it allows you to build a call function into an online chat help portal, without the customer needing to explain their issue twice. This makes it less frustrating for the customer, but also easier for the employees and managers using VoIP to keep a record of what has been discussed.  

Good customer experiences are important for your business, and not to be undervalued.  

What do you need to use VoIP?  

Because there are many options for using a VoIP phone system, it is a more flexible option in terms of equipment. The most important part of utilizing VoIP effectively is a reliable internet connection with proper security to prevent hacking. Unfortunately, in areas where internet connection is unreliable or poorly serviced, this does make VoIP less accessible than landline options.  

Otherwise, there is relatively little hardware involved once you have the proper software. If you are using a computer or smartphone, you will probably want a decent quality headset with a microphone. If you want to use a traditional phone, you will need either a VoIP-specific phone, or a traditional phone set compatible with a VoIP adapter.  

Be up to date with your technology. 

Now more than ever, it’s important to be current with your tech. With many day-to-day tasks being handled virtually and remotely, your landline phone system might not make the cut.  

Cal Wilson / April 1, 2021

Strong Leadership Includes Strong Delegation

By definition, you can’t be a team of one. Among the most important responsibilities of any leader is knowing how to make the most of their team’s strengths, and delegate the workload appropriately. Learning to master delegation will result in a better work environment for your entire team, whilst playing to every individual’s personal talent.

In this issue of the Pulse, we take a look at some of the important things to consider when you’re attempting to improve your delegation and workload management skills.

Know your team and your tasks

It’s important to conduct a proper analysis of your workload and your team’s capabilities. Some things really will be better if you’re the one doing them, and those are jobs you shouldn’t delegate if you don’t need to. However, many of your responsibilities might be better served by your colleagues or employees – especially if they can afford to put more focus on the task in question. It also might be important to analyze what responsibilities you can shift from one employee to another. Can you lighten someone else’s workload by positively challenging another?

Likewise, as a leader, it will be very beneficial to identify which tasks are time-wasters in your schedule. Someone less senior on your team can certainly take care of these, freeing you up for the work that can only be completed by you.

A mental inventory of your whole team’s strengths, weaknesses, and workload is crucial when being honest and analytical in the delegation process.

Be clear and effective when assigning work

When delegating work to other members of your team, it’s important that they have the proper instructions and expectations from the start. It is more efficient to take the time to give a thorough explanation, rather than troubleshooting or re-doing work later.

If you’re setting expectations for a co-worker without being fully transparent, it also has the potential to cause a rift in your working relationship.

Give and receive feedback authentically

After a task is completed, give constructive feedback to your team member. Did their initiative impress you? How could they improve next time? It’s also critical that you are receptive to their feedback. Did they feel overwhelmed by the task given, or were your instructions perhaps not clear enough? Keeping that open, authentic dialogue, and creating an environment where your staff feel safe to participate, will allow for a much more fulfilled workspace.

Consider implementing a digital solution

There are a myriad of different technologies dedicated to helping a team run effectively. Microsoft Teams, Slack, and Trello are just a handful of the tools you can utilize to delegate tasks to your staff, and to assure everyone remains accountable for the work they’re responsible for. Especially with staff working at home, a virtual platform dedicated to communication and teamwork is a no-brainer.

Avoid micromanagement

It can be hard to trust that anything is getting it done without your attentive supervision. But relax – trust that you made the right hiring and delegating decisions. Trust in your own abilities as a leader, and your team’s talent in their roles. If you set them up for success, believe that they can succeed. If they don’t, it’s a learning experience for all involved.

You work hard, and you deserve the benefit of knowing your team has your back. Hopefully these strategies can help your workplace and schedule thrive.