Time to reassess

2020 is the year that some businesses will not have made it through, almost daily we hear of ones that haven't, we have seen others thrive but most of all everyone has had to play it safe. It certainly is a year of survival.

While companies make decisions on whether they can afford to increase pay, give bonuses or how they can retain key talent there are other things that companies should also consider. This is an opportunity too, an opportunity to increase transparency on decision-making, increase transparency on pay practices, why are we doing things this way, how can we do things better? This is a time of reflection. What motivates our people? What increases productivity?

For organisations that didn't increase salaries this year and maybe downsized as a result of the impact of COVID there will still need to be corrections, the world isn't perfect and talent will still be moving. Identifying key talent is the key to retaining key talent, the skills and experience essential to achieve business results, the ability to identify what is needed to ensure that talent stays with the organisation for as long as is mutually beneficial. It isn't always the leadership, key talent exists at all levels within the organisation and the cost of replacing key talent can be high and inconvenient.

Take 2021 as an opportunity to invest in people, if not in pay and bonuses then in education on the business and understanding the role that everyone plays in business success, business success means success for all. Our new generation of workers demand more as employees and so they should. Let's take this opportunity of showing them how to operate in a crisis, it's not all about the bottom line, it is about well-being, education, adaptability, trust and future vision.

So, let's reassess, educate and hopefully we can soon get back to healthy living.