How Businesses Can Tackle the Cost of Living Crisis

nflation levels in Britain have reached 7% – the fastest growth in prices in nearly 40 years. Petrol prices have risen by 12.6p per litre in the space of one month (from February to March), household bills are soaring, and food costs are expected to increase by up to 15% this year. For businesses, the rate of VAT – which is the tax paid when purchasing services or goods – is going up too.

As well as heightened product and energy expenses, over one in four companies has experienced some sort of supply chain disruption in the past months. Not only that but many businesses have also witnessed higher transport costs, new custom duties, and a lot more paperwork.

So what measures can you take to tackle the existing inflation? Here, we explore some tips on how businesses can confront the rising living costs and keep operating with confidence.  

Monitor

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STAR METHOD INTERVIEW QUESTIONS

STAR METHOD INTERVIEW QUESTIONS

SOURCE: https://www.market-connections.net/blog/star-method-interview-questions
The ​STAR method interview questions have long been used by recruiters and employers alike. Learning the formula helps to articulate accomplishments in a resume or LinkedIn profile or answer the question “TELL ME ABOUT A TIME WHEN YOU…” in an interview.

Below is an overview of the STAR formula, where and when to use the STAR formula, how to create your own STAR story, 18 examples to create STAR stories, and a fill-in-the-blanks exercise to capture the information in the STAR formula to create STAR stories.

Articulating Your Accomplishments
Being able to articulate your accomplishments and your ability to handle challenges is important in your job search. Having a format to structure your responses makes it easier to create compelling career stories to:
  • Demonstrate your capability to tackle tough situations. (Past performance can be a strong indicator of future success.)
  • Quantify
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JOB CHANGE OR CAREER CHANGE?

Job Change OR Career Change?

SOURCE: https://www.market-connections.net/blog/job-change-or-career-change

There’s a saying in the careers industry that you’ll know it’s time to make a job or career change when you start asking yourself if it’s time to make a change.

 

While there is truth to that, there’s more to making your decision.

 

Below are tips to help you identify some of the reasons why you may want to make a job change or career change and give you practical strategies to use as you make your decision.

 

Reasons for a Job or Career Change

The first step is to assess the reason — or reasons — why you may desire a change. Change can be difficult — it usually is — so you want to make sure that the reason you are considering a switch isn’t something temporary that will fix itself, if given enough time.

 

Some of the reasons why you Read more

CAREER CHANGE QUIZ

Career Change Quiz

 

SOURCE: https://www.market-connections.net/blog/career-change-quiz

 

This Career Change Quiz is designed to serve as a Career Change Self-Assessment.

Rate each of these job or career change reasons (internal and external reasons) on a scale of 1 to 5.

It starts with 1 being “does not apply to me or doesn’t affect me” to 5 being “affects me greatly.”

As you rate your answer from 1 to 5 for each of the items below, write your answer for each item and then add up your score. 

  • I dread going to work most days.
  • I fear for my physical safety in my current job.
  • My current job is a threat to my emotional wellbeing.
  • My skills are becoming increasingly irrelevant to my job.
  • Most days, I am overwhelmed at work.
  • My job is boring.
  • I can’t move up in my current job/current company.
  • I don’t feel
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Create Amazing Employee Experiences through Purposeful Employee Engagement

Employee engagement is the care and level of emotional commitment that an employee has to their organization and their work. When employees are satisfied with their company, they are more productive, experience less burnout, and are less likely to leave the company. If a business has a high employee satisfaction rate, it will be more successful in the long term. Some organizations say they “focus on” employee engagement but, they lack the structure and purpose to meet employee expectations. Employee engagement must be purposeful and defined, especially now during the post-pandemic Great Resignation to ensure it can be measured and is making a positive impact.

According to Gallup’s 2020 study on employee engagement and performance, teams with higher employee engagement saw both a reduction in negative outcomes—like turnover and absenteeism—and a big lift in organizational success. Results showed businesses with high employee engagement experienced 23% higher profitability, 10% better customer … Read more