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A platform bringing you the latest news and insights on staffing, startups and the future of work.

How can CXOs network better?

Shamus Jayawardena

April 28, 2023

As a CXO, building and maintaining professional relationships is essential for success in today’s business world. LinkedIn is a powerful platform for networking and personal branding, offering endless opportunities for connecting with like-minded professionals, expanding your reach, and promoting your brand. Here are some tips for networking better on LinkedIn and the benefits of personal branding as a CXO.

Optimize your LinkedIn profile: Your LinkedIn profile is your digital business card and should reflect your personal brand. Ensure that your profile picture, headline, and summary are professional and up-to-date. Your headline should be attention-grabbing and accurately reflect your current position and industry.

Connect with purpose: When sending connection requests, personalize the message and explain why you want to connect. Be strategic in choosing who to connect with, and aim for quality over quantity. Look for people in your industry or those with similar interests and backgrounds.

Engage with your network: Building a strong network is more than just adding connections. Engage with your network by commenting on and sharing their posts, joining relevant LinkedIn groups, and sharing your own content. This will help you build relationships and establish yourself as a thought leader in your industry.

Share your expertise: As a CXO, you have a wealth of knowledge and experience to share. Share articles, blog posts, and other content related to your industry or areas of expertise. This will help position you as a thought leader and attract like-minded professionals to your network.

Attend virtual events: LinkedIn offers a variety of virtual events, such as webinars and workshops, that are great opportunities to connect with other professionals and learn new skills. Attend these events and engage with other attendees to expand your network and gain new insights.

Personal branding is also important for CXOs, as it helps establish your reputation and differentiate you from other leaders in your industry. Here are some benefits of personal branding for CXOs:

Establish credibility: Personal branding allows you to showcase your expertise and experience, establishing you as a credible leader in your industry.

Build trust: People are more likely to do business with individuals they trust. By building a personal brand, you can establish trust with your customers and stakeholders.

Expand your network: Personal branding can help you connect with like-minded professionals and expand your network, opening up new opportunities for collaboration and growth.

Attract top talent: A strong personal brand can also help attract top talent to your organization, as people are more likely to want to work for a company led by a respected and reputable CXO.

In conclusion, using tools such as LinkedIn for networking and personal branding is smarter and better. CXOs should take advantage of its many benefits. By optimizing your profile, connecting with purpose, engaging with your network, sharing your expertise, and attending virtual events, you can expand your reach and establish yourself as a thought leader in your industry. And by building a strong personal brand, you can establish credibility, build trust, expand your network, and attract top talent to your organization.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

Embracing the AI Era: Unlocking the Power of Artificial Intelligence

Nirmani De Alwis

April 21, 2023

Artificial Intelligence (AI) has rapidly emerged as a game-changing technology that is reshaping industries, economies, and societies. From autonomous vehicles and personalized virtual assistants to machine learning algorithms that diagnose diseases and optimize supply chains, the AI era is unfolding before us with unprecedented possibilities. Embracing this era is not just about keeping up with the latest technological trends, but understanding the immense potential of AI and harnessing it for the betterment of humanity.

One of the key reasons why embracing the AI era is crucial is its potential to drive innovation and transform industries. AI has the ability to analyze vast amounts of data, uncover patterns, and generate insights that can lead to breakthrough innovations. For example, in the healthcare industry, AI is being used to develop new drugs, design personalized treatment plans, and accelerate medical research. In agriculture, AI is helping farmers optimize crop yields, monitor soil health, and reduce water usage. In manufacturing, AI is enabling predictive maintenance, optimizing production processes, and improving quality control. Embracing AI can lead to significant advancements in various sectors, enhancing productivity, efficiency, and competitiveness.

Another compelling reason to embrace the AI era is its potential to address some of the world’s most pressing challenges. Climate change, poverty, hunger, and disease are complex problems that require innovative solutions. AI can play a pivotal role in addressing these challenges by providing data-driven insights, optimizing resource allocation, and driving sustainable practices. For instance, AI can analyze weather data to predict natural disasters and enable proactive measures for disaster mitigation. It can also analyze social and economic data to identify patterns of poverty and inequality and guide policymakers in formulating targeted interventions. Embracing AI can lead to more informed decision-making and effective problem-solving, contributing to the betterment of society as a whole.

Furthermore, embracing the AI era can also foster economic growth and create new job opportunities. While there are concerns about job displacement due to automation, AI has the potential to create new jobs in areas such as data science, machine learning, and AI ethics. AI can also augment human capabilities, enabling workers to focus on more creative, complex, and value-added tasks. According to a report by the World Economic Forum, by 2025, AI has the potential to create 12 million more jobs than it displaces. Embracing AI can lead to a dynamic and inclusive economy that harnesses the potential of both human intelligence and machine intelligence.

However, realizing the full potential of AI requires responsible development and ethical deployment. Ethical considerations such as fairness, transparency, and accountability are paramount in the AI era. It is crucial to ensure that AI algorithms are free from bias and discrimination, and that they are transparent and explainable to build trust among users. Data privacy and security also need to be prioritized to protect sensitive information and ensure compliance with regulations. Moreover, there is a need for a robust regulatory framework that addresses the ethical implications of AI and guides its development and deployment in a responsible manner.

In conclusion, the AI era presents unprecedented opportunities for innovation, problem-solving, and economic growth. Embracing AI is not just a technological trend, but a critical imperative for individuals, organizations, and societies. By harnessing the power of AI, we can drive innovation, address global challenges, create new job opportunities, and foster economic growth. However, responsible development and ethical deployment of AI are essential to ensure its benefits are realized in a fair, transparent, and accountable manner. As we navigate the AI era, it is vital to embrace its potential while upholding ethical considerations, to build a better future for humanity. Let us embrace the AI era and unlock its transformative power to shape a better world.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

What is Lean Management?

Shamus Jayawardena

March 29, 2023

Lean management is a business strategy that originated in Japan and was popularized by Toyota. It is a set of principles and practices aimed at reducing waste and increasing efficiency in manufacturing, service, and other business processes. The approach is focused on continuously improving the quality and value of products or services offered to customers while minimizing costs and maximizing profits. In this article, we will explore what lean management is, its key principles, and its benefits.

What is Lean Management?

Lean management is a methodology that aims to streamline and optimize processes in order to eliminate waste and reduce costs. It involves analyzing every step of a process to identify inefficiencies, reduce lead times, and improve quality. This approach focuses on the value that the customer places on a product or service, and the elimination of any steps that do not add value to the end product or service.

The Lean management approach can be applied to any industry, from manufacturing to healthcare, and has been successfully implemented in organizations of all sizes. It is based on the principles of continuous improvement, respect for people, and the pursuit of perfection.

Key Principles of Lean Management

The key principles of Lean management are:

Value: Lean management starts with a focus on the value that the customer places on a product or service. The goal is to create value for the customer while minimizing waste.
Value stream: The next step is to analyze the entire value stream – the series of steps that are required to produce the product or service – to identify inefficiencies and areas for improvement.
Flow: Lean management aims to optimize the flow of materials, information, and people through the value stream, with the goal of eliminating any interruptions or bottlenecks.
Pull: The pull principle means that production is driven by customer demand, rather than by a push from the producer. This approach ensures that production is aligned with customer needs, minimizing waste and maximizing efficiency.
Perfection: The ultimate goal of Lean management is the pursuit of perfection – the continuous improvement of processes to eliminate waste, increase efficiency, and improve quality.

Benefits of Lean Management

Lean management has several benefits, including:

Improved efficiency: Lean management aims to eliminate waste and optimize processes, which leads to increased efficiency and productivity.
Reduced costs: By eliminating waste and streamlining processes, Lean management can reduce costs, improve profitability, and increase competitiveness.
Improved quality: Lean management aims to improve the quality of products and services by eliminating defects and errors.
Increased customer satisfaction: By focusing on customer needs and eliminating waste, Lean management can improve customer satisfaction and loyalty.
Empowered employees: Lean management promotes a culture of continuous improvement and empowers employees to identify and solve problems.

Conclusion

Lean management is a powerful business strategy that can help organizations reduce waste, increase efficiency, and improve quality. It is based on the principles of continuous improvement, respect for people, and the pursuit of perfection. By focusing on the value that the customer places on a product or service, and by eliminating any steps that do not add value, Lean management can help organizations achieve their goals and remain competitive in today’s fast-paced business environment.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

A way forward: how startups and SMEs can thrive in 2023

Shamus Jayawardena

March 29, 2023

The year 2023 is shaping up to be a challenging year for startups in many industries. One of the most pressing issues is the skilled labor shortage that is affecting companies around the world. This shortage of skilled workers is being driven by a number of factors, including demographic shifts, changing educational systems, and the rapid pace of technological change.

Despite these challenges, there are steps that startups can take to thrive in 2023 and beyond. In this article, we’ll take a look at some of the strategies that successful startups are using to navigate the skilled labor shortage and build thriving businesses.

1. Embrace a remote-first approach

One of the most effective strategies for dealing with the skilled labor shortage is to embrace a remote-first approach to hiring and building a team. This approach allows startups to tap into a global pool of talent and access highly skilled workers who might not be available in their local area. By using video conferencing, collaboration tools, and other remote work technologies, startups can create a highly effective and productive team that is able to work from anywhere in the world.

2. Invest in upskilling and reskilling programs

Another strategy that startups can use to thrive in the face of the skilled labour shortage is to invest in upskilling and reskilling programs for their existing employees. This involves providing training and development opportunities that allow workers to acquire new skills and adapt to changing technologies and business environments. By investing in these programs, startups can create a highly skilled and adaptable workforce that is able to meet the challenges of the future.

3. Build a strong employer brand

In a highly competitive job market, building a strong employer brand is essential for attracting and retaining top talent. This involves creating a company culture that values innovation, collaboration, and learning, and that provides employees with opportunities for growth and development. By building a strong employer brand, startups can differentiate themselves from their competitors and attract the best and brightest workers to their team.

4. Emphasise diversity and inclusion

As the workforce becomes more diverse, startups that prioritise diversity and inclusion will have a competitive advantage in attracting and retaining top talent. This involves creating a workplace that is welcoming and inclusive for workers from all backgrounds, and that values diverse perspectives and experiences. By emphasising diversity and inclusion, startups can create a culture that fosters innovation and creativity, and that is able to attract and retain the best and brightest workers from around the world.

5. Partner with educational institutions

Finally, startups can thrive in the face of the skilled labour shortage by partnering with educational institutions to identify and develop talent. By working with universities, community colleges, and vocational schools, startups can build relationships with students and faculty members who have the skills and knowledge that they need to grow and succeed. This approach can help startups to identify and recruit top talent before they enter the job market, and to provide students with valuable internship and work experience opportunities.

In conclusion, startups that are able to navigate the skilled labour shortage in 2023 will be those that are able to adapt and innovate in response to changing market conditions. By embracing a remote-first approach, investing in upskilling and reskilling programs, building a strong employer brand, emphasising diversity and inclusion, and partnering with educational institutions, startups can build highly skilled and adaptable teams that are able to meet the challenges of the future.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

Big changes to the UK’s R&D tax credit relief incentive in 2023: The Good and the Bad.

Shamus Jayawardena

March 21, 2023

SMEs can currently take advantage of two R&D tax relief programs. These will change starting from April 2023, and long-term plans call for redesigning and overhauling these.

Jeremy Hunt, Chancellor of the Exchequer made this declaration during the Autumn Statement: “I have decided today to cut the deduction rate for the SME scheme to 86% and credit rate to 10%, but increase the rate of the separate R&D Expenditure Credit from 13% to 20%. Despite raising revenue, the OBR has confirmed that these measures have no detrimental impact on the level of R&D investment in the economy. Ahead of the next budget, we will work with industry to understand what further support R&D intensive SMEs may require.”

To put it another way, SME repayable credit claimants will see a significant reduction in financing. However, it should be noted that the net benefit of R&D claims will drop less for profitable SME applicants.

Funding for RDEC claimants, both profitable and loss making, will rise overall. While this benefits big enterprises, it also benefits SME claimants who work on R&D projects with outside contractors and those who receive other types of grant money.

The good news is that cloud computing and dataset expenditures will be added to the list of R&D expenditure categories. This should improve R&D credits for the sector and is especially pertinent to companies in the TMT sectors where these charges might make up a sizable portion of their R&D efforts.
In addition, new Health and Social Care Levies will be included in the qualifying components for R&D staff costs (and payable credit caps), in the same way as national insurance contributions currently do. Finally, R&D in pure mathematics will now qualify for relief and can form part of the qualifying R&D activities of the claimant.

According to the BIA, the SME change is as follows:
“In practice, this means that, under the current proposals, businesses who have made their investment plans based on the SME R&D tax relief providing 33p for every £1 the company itself invests in R&D will instead receive 18.6p for each £1 of in-house R&D they perform and as little as 12p for each £1 of R&D they outsource to universities, hospitals or other companies.”

The bottom line is that the amount of the cash rebate received has been reduced by more than 40%. Although the SME regime will be less generous in the future, it is important to keep in mind that it will continue to offer an additional 86% of enhanced tax relief beginning on April 1, 2023, as well as a repayable tax credit worth up to 18.6p for every £1 of qualifying expenditure, making it still a valuable benefit.

It could be realistic to anticipate some increase in the level of qualifying expenditures to which the new rates will apply if this expenditure relates to qualifying R&D given these factors, together with the effects of inflation on labour costs, consumables, etc.

Category: Editorial

YTA Blog

How can CXOs network better?

YTA Blog

Embracing the AI Era: Unlocking the Power of Artificial Intelligence

YTA Blog

What is Lean Management?

What is Lean Management?

Key Principles of Lean Management

Benefits of Lean Management

Conclusion

YTA Blog

A way forward: how startups and SMEs can thrive in 2023

1. Embrace a remote-first approach

2. Invest in upskilling and reskilling programs

3. Build a strong employer brand

4. Emphasise diversity and inclusion

5. Partner with educational institutions

YTA Blog

Big changes to the UK’s R&D tax credit relief incentive in 2023: The Good and the Bad.

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