“How are you?”. Maybe the world’s most overused question, until perhaps during the pandemic when we have realised we need to pay attention to how people really are feeling.
This is not just empathy, there are good solid reasons for doing so.
As you are asking, thank you, I am feeling fine now. I will confess to have been feeling a bit less than my usual self earlier this week – but I know why. On Monday evening I had my second Covid 19 vaccination, where my wife and I were both warned about possible side effects. Having assured the nurse I have no blood clotting problems, but that I felt ‘a bit jaded’ after my first jab, I duly had no blood clotting problems but did feel a bit, well, you know….probably psychosomatic. Maybe genuine side effects.
Buit its not just me who may feel less than 100%, and definitely not just because of a vaccination.
I was already aware of research into decision making featuring the outcomes of judgements made where harsher sentences were passed in courts when judges were likely to be more tired – before lunch and towards the end of the day. In an article in last week’s Economist this research was backed up with a further study on bank credit officers, who turned down more restructuring proposals between 11am & 2pm, and after 3.00pm.
The eye-catching element of this was that an analysis of the effect of those decisions showed a turning down proposals resulted in a higher default rate – a loss to the bank in the research estimated at $500,000 per month.
As I said – good, solid reasons.
A Cranfield University Alumni seminar last week highlighted the effect of ‘burnout’, with an engaging case study from Brian Henderson. He usefully shared his experience of burnout, which included loss of energy, a ‘brain fog’ feeling, and being less sympathetic to others. (In some ways, not unlike my own Covid symptoms). This session was illustrated with a super short video on the difference between sympathy and empathy from Brené Brown (link below).
Despite all our technology, we still find ourselves needing things from other people. It may not be a lighter jail sentence, but it may involve us in thinking about how others are feeling when we ask. If we do, we are not just being empathetic, but also being effective.
I am about to make a call to ask something: but think I will change the time I make it.
So, let me ask you again – how are you?
https://www.youtube.com/watch?v=KZBTYViDPlQ Brene Brown on Sympathy vs. Empathy
https://www.economist.com/business/2021/05/29/the-dangers-of-decision-fatigue you should be able to read this without subscription: worth a look for more depth on this.
Buzzwords of the Week – Inventory
Definition – Also known as stock. What a business holds in physical goods, as either raw materials, work in progress or finished goods, prior to sale. Average stock turnover can be roughly calculated by taking the stock figure, dividing by cost of sales, and multiplying by 365: this gives a general average number of days stock ‘turnover’ i.e. from delivery of raw material to sale.
Alternate View – If your business in any way involves physical inventory, your mission is to reduce turnover to a minimum. The ideal is to take delivery in the morning, and sell it in the afternoon. Most manufacturing, wholesaling and retail processes are geared up to this – as with ‘just in time’ procurement of supplies. A crucial KPI for physical stock: irrelevant if yours is a totally service business.
Reset Restart is a funded programme of webinars and coaching to help new and small businesses recover. This is available in selected locations across the country, I am working with Rob Harrison from Glued with eligible businesses in Worcestershire. Over the next week I am coaching a range of businesses and also running a webinar on finance. Details at https://www.eventbrite.co.uk/e/finance-making-keeping-your-business-profitable-3-of-4-tickets-143695580349?aff=ebdssbonlinesearch
Business Ready Pitching for Finance – I am delighted to be running online learning sessions on Pitching for Finance THIS MORNING from 9.30am BST, with Part 2 on Tuesday 8th. Have a look at the link and find out more. (This is short notice: if you cannot make part 1, email me: we can arrange a re run on Monday 7th at 1.00pm)
You may also be interested in joining the discussion on HR Hot Topics at 1.00pm on Friday 11th with CIPD Coventry & Warwickshire. I will be there with Sonia Khera from Cactus HR. https://www.eventbrite.co.uk/e/online-cipd-cov-warks-hr-hot-topics-networking-meeting-tickets-154829315651?aff=ebdsoporgprofile