Risk Audits

Three days ago, one of my colleagues attended the last of three breakfast seminars run by the IOD on risk audits.

He took the following learning points from the seminar :
 
*  Mario Andretti the champion racing driver said "if you're in full control you're not going fast enough"  
* Good risk data supports good risk decision taking
* Learn and Employ Dos and Don'ts
* MindManager is good for producing spider diagrams plotting risk
* Quantify risks in accordance with your company risk appetite and tolerance

At the moment we’re all working hard on our big event coming up soon. This is the Understanding TUPE Conference.

Latest Training Event

Last week, one of my colleagues attended a seminar in Belfast and took a number of Key Learning points from this event, both from a personal perspective and company perspective:

1.       Title of event was slightly misleading, my expectations were not met in terms of how the event had been billed – learning: be sure to cover what you are promising in the title

2.       Event was free although if you didn’t turn up or couldn’t send a replacement you were charged £50 cancellation/ no show fee. Thought this was a good way of ensuring all delegates will turn up

3.       When I was registered I was then immediately greeted by another hoster who showed me round to the main area and then introduced me to a Employers in Childcare colleague (who has been assigned to me by the colour of spot on my name badge). Learning: I felt well looked after and although I wasn’t too keen on being given a coloured spot on my name badge I did think the idea was good.

4.      In terms of event management – the event was held in the Ramada Shawsbridge, registration took place at the lobby area at the top of the stairs – much more user friendly I thought compared to where we normally register for AR – learning: consider moving registration for this year

5.        Most if not all the questions from the floor were directed at Maxine Orr on her presentation on sickness leave and annual leave. 

At the moment we’re all working hard on our big event coming up soon. This is the Annual Update on Payroll Matters Conference.

Differentiate or Die

Nowadays, most especially in the Business world we must realize that when we want to establish something new, we must create a difference in the minds of consumers. We, in Legal-Island have learned some new ideas from a book to make that possible. It's called "Differentiate or Die" by Jack Trout. Here are some of his ideas:

The most successful brands in history are differentiated by being linked to very basic, very essential attributes – like “safety”, “refreshment” or “performance”.

Those that do best are those which stand for something unique. Differentiation is the process of identifying, amplifying and communicating what makes you different.

Rosser Reeves definition of U.S.P:

a.       An advertisement had to be built around just one specific and central proposition – buy this product and get this benefit

b.      The proposition must be unique – something all competitors cannot match

c.       The proposition must be compelling – so new customers will come over to your product

4 ways people make decisions. To make decisions, consumers:

1.       Use intuition to avoid details and focus on the big picture

2.       Approach it analytically and logically

3.       Respond to the expressed feelings of others

4.       Put things into context and respond to market forces

The most commonly used differentiation strategies are:

1.       Identify

2.       Personify

3.       Create a new category

4.       Change the product’s name

5.       Reposition the category

There are several factors which can inhibit the success of differentiation:

1.       The pursuit of growth

2.       A failure to sacrifice other opportunities

3.       An attempt at convergence

4.       An attempt at globalisation

The Mechanics of Differentiation

The process of differentiating successfully is simple and logical. It requires four essential steps for success:

Step 1: Make Sense

Step 2: Focus on one idea

Step 3: Have the credentials

Step 4: Communicate your difference

In practice, people only notice what they are interested in.

Differentiation is all about positioning your product in the mind of the prospect. To do that, you deliver:

1.       A simple message – built around a single, consistent idea, the point of difference between you and everyone else.

2.       A logical message

3.       A reassuring message

4.       A consistent message over time

5.       A focused message – built around one product, one point of differentiation and one message

To keep differentiation on track:

1.       Keep looking for ways to redefine your business and the way it’s done which are consistent with the way you’re differentiated

2.       Stay contrary and go against what everyone else is doing. By ignoring conventional wisdom and doing what’s best for the consumer, your point of differentiation will shine like a beacon

The best CEO’s put together a good strategy built around a key point of differentiation and then assemble the people, the resources and the internal machinery needed to commercially exploit that idea to the best possible effect.

The 14 Differentiation Ideas

1.       “Hotness” is a good differentiating idea

2.        “Quality” is rarely a differentiating idea

3.       “Customer Orientation” is rarely a differentiating idea

4.       “Price” is rarely a differentiating idea

5.       “Breadth of Product Line” is rarely a differentiating idea

6.       “Being first” is a good differentiating idea

7.       “Attribute Ownership” is a good differentiating idea

8.       “Leadership” is a good differentiating idea

9.       “Heritage” is a good differentiating idea

10.   “Market Specialist” is a good differentiating idea

11.   “Most Popular Choice Among Consumers” is a good differentiating idea

12.   “How the Product is Made” is a good differentiating idea

13.   “Being the Latest” is a good differentiating idea

14.   “Creativity” is never a differentiating idea

At the moment we’re all working hard on our big event coming up soon. This is the Resolving Workplace Disputes Conference.

Brain Rules

Legal-Island has just been doing some research about the brain from a book called "Brain Rules - Principles for surviving and thriving at work, home and school" by John Medina.

From it we've gleaned the following points :

1. The best way to get a point across is to provide context or key idea first then the detail. Application: Introducing new item into company. Start with context. Then follow with details.

2. Human beings are the smartest species not the strongest. To prosper form good relationships with others. Application: good HR structures critical. Test for stress. Devise welfare at work programme

3. Vision is the most powerful sense by a long way. Incorporate more pictures into what you're/learning teaching.

Application: Powerpoint slides go for pictures in preference to bullet points or mix both

4. Emotions always get our attention - if you want to keep people's attention interject some elements that will engage the emotions. This may be story telling or something.

Application: Introductions to our seminars in the TC start off with story or anecdote?

5. Physical exercise boosts brain power. To be smarter incorporate some physical movements in your meetings and work schedule. Application: One-to-one meetings on two exercise bikes? We move half way through a meeting?

At the moment we’re all working hard on our big event coming up soon. This is the Northern Ireland HR Conference.