Right now, many businesses are experiencing slowing growth in business activity. Although this may seem like a bad thing, there are still so many positive actions companies can take during this downtime that will pay dividends when business ramps up again. Let’s take a look at some of the ways your business can best take advantage of this period to secure a better future.
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In a survey conducted in 2020, American adults answered a list of personal finance questions. Only 52% of those adults answered the survey questions correctly. But those results are really no surprise. After all, only 15 states in the US even guarantee high schoolers will take at least one semester of personal finance before graduating.
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Tight on the heels of the Great Resignation comes another economic trend: quiet quitting. Many who aren’t choosing to leave their jobs for better opportunities are staying put but distancing themselves from excessive work-related duties (AKA, quiet quitting).
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Forecasting cash flow is the key to the survival of many organizations, yet it’s a non-existent process in others. Often, organizations with abundant cash see little value in taking the time to put a system in place to do this. Other organizations that operate with little or no cash see forecasting cash flow as a critical element in running their business in such a manner as to avoid a crisis of liquidity.
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Scoreboards, proper goal tracking, and budgeting are all natural components we expect to see utilized in any business. Afterall, how could we determine the success of a business without benchmarks and goal tracking? So if we determine the success of a business through financial scoreboards and goal tracking, then why don't we scoreboard our personal lives?
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Creating a sustainable business is no easy task. Creating a sustainable business that also enriches the lives of all the people involved in that business is an even more challenging task. This is exactly what English Tea Shop sought out to do in 2014. CEO, Suranga Herath, wanted to create shared value for his people and community and he needed a business model to do so.
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We had Great Game™ Certified Coach, Anne-Claire Broughton on our podcast to share her expertise on the different forms of employee ownership. She discusses the benefits of employee ownership, initiatives her clients are using to provide financial literacy training to employees, and how to engage employees in a way that makes work fun.
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Evergreen Cooperatives is a family of worker-owned cooperatives that includes the Evergreen Cooperative Laundry and Green City Growers. Evergreen Cooperatives focuses on creating economic development within specific neighborhoods in Cleveland, making it their mission to build up the people and communities around them. As Cleveland Foundation’s President/CEO and Evergreen Board Chairman, Ronn Richard, says: “Our goal is equitable wealth creation at scale.”
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When the employee-owners of SRC Holdings gathered on the evening of Wednesday, June 15, 2022, for SRC’s 38th Annual Shareholder Meeting, you could feel the electricity in the room. Many of the company’s 2,000-strong workforce were in attendance—some with spouses, partners, and children in tow. Not only was everyone enjoying the ability to gather in person again, the company and its ten subsidiaries had been on a hot streak after a down year caused by the disruptions of the pandemic. Everyone was expecting big news because they were about to learn the updated share price of their company. They weren’t going to be disappointed.
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Each year, Fortune partners with the Great Place to Work Institute to survey employees at hundreds of corporate America’s top firms to determine which companies will be named as one of the 100 Best Companies to Work For. The most recent list, released in 2022, included Great Game Hall of Fame winner, Hilcorp Energy.
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