Understanding your credit score
By Jessie Taylor More and more South African consumers are accessing credit, according to the National Credit Regulator (NCR). The NCR highlights that the number of consumers with credit agreements has grown, particularly in the first quarter of 2025. As of this period, around 25.8 million credit agreements were in place, with a significant number of consumers holding multiple types of credit. While many individuals rely on credit to manage their finances, there are concerns about the impact of rising debt levels on consumer financial stability. This highlights the need for responsible borrowing, and one tool consumers can use to monitor their credit is their credit score. The basics A credit score is an essential financial tool that reflects your ability to repay debt and manage credit. It’s a number that lenders and financial institutions rely on to assess the risk of lending you money. In South Africa, credit scores generally range from 300 to 850, with higher scores indicating a stronger credit history and a greater likelihood of securing financial products, such as loans and credit cards. However, understanding your credit score and knowing how to improve it can be pivotal for achieving financial stability and unlocking better opportunities. The key factors that influence your credit score include: A credit score differs from a credit report. Your report is a detailed record of your credit activity and contains information about your credit accounts, such as loans, credit cards, and payment history. It also includes details of any defaults or collections on your accounts. Your credit score is a snapshot of your financial behaviour, whereas the credit report provides a comprehensive view of your credit history. To improve your credit score, it’s crucial to monitor both, ensuring that your report is accurate and up to date. In South Africa, checking your credit score is relatively simple. Several services, including financial institutions and credit bureaus, provide access to your credit score at no cost. You can also request a credit report directly from the main credit bureaus. South African regulations allow you to request one free credit report per year from each of the major credit bureaus, ensuring you have access to your information and can address any issues promptly. How to achieve a good credit score A good credit score is key to accessing a wide range of financial products and securing favourable interest rates. It can also signal financial reliability to potential lenders, making you an attractive candidate for loans, credit cards, and even rental agreements. Here are some essential tips to help you build and maintain a good credit score: Pay your bills on time Timely payment is crucial to maintaining a healthy credit score. Payment history is the most influential factor in your credit score, making up about 35% of the calculation. Late or missed payments can significantly impact your score, so staying on top of payment deadlines is essential. Set reminders or automate payments to avoid late fees and potential damage to your credit score. Keep your credit utilisation low Credit utilisation accounts for 30% of your credit score, so keeping your credit card balances well below your credit limit is important. Financial experts recommend keeping your utilisation under 30%. For example, if your credit limit is R10 000, aim to keep your balance below R3 000. A lower credit utilisation rate shows lenders that you are managing your credit responsibly. Maintain a long credit history The longer your credit history, the more insight lenders have into your financial behaviour. The length of your credit history makes up about 15% of your credit score. If you’ve had credit accounts for several years, your score is likely to reflect this stable financial background. Keep older accounts open, even if you’re not actively using them, to maintain a longer credit history. Diversify your credit types A healthy mix of different credit types, such as credit cards, retail accounts, and loans, can contribute positively to your credit score, accounting for around 10%. Having a diverse credit profile signals to lenders that you can manage various types of credit responsibly. However, don’t open unnecessary accounts just for the sake of variety; only apply for credit you truly need. Limit hard credit inquiries Each time you apply for credit, a hard inquiry is made, which can slightly lower your score. Multiple hard inquiries in a short period can make you appear financially unstable, potentially lowering your score. Limit credit applications to avoid unnecessary hits on your score. Soft inquiries, such as when you check your own credit score, do not affect your score. Building and maintaining a good credit score is an essential step in achieving financial well-being. It opens doors to favourable loan terms, lower interest rates, and better financial opportunities. Understanding the factors that influence your credit score and regularly checking both your score and your credit report will put you in a better position to manage your finances effectively. Sources: Old Mutual | Standard Bank | Investec | National Credit Regulator
The reality is that South Africa’s agriculture is thriving
By Wandile Sihlobo Since US President Donald Trump commented about his “imaginary” land grabs in South Africa, some among us have started pushing a misleading narrative that agriculture is under pressure and has been failing for a while. The inept municipalities, poor road infrastructure, stock theft, and port inefficiencies all contribute to this narrative of failure and despair. Stories of the failings of land reform farms also add to this sentiment of regression in agricultural progress. But this narrative is far from the reality of the South African farming sector. Regardless of how experts feel about the state’s capacity and the government’s policy stance since the dawn of democracy, the one undeniable fact is that the sector has grown tremendously – and indeed, not failing. Data from the Department of Agriculture shows that domestic agricultural output in 2023/24 had more than doubled the size in 1994. A few sectors did not drive this expansion, but it has been widespread; livestock, horticulture and field crops have all grown enormously over this period. The higher production levels have mainly been underpinned by new production technologies, better farming skills, growing demand (locally and globally) and progressive trade policy. The private sector has played a major role in this progress. South Africa was the world’s 32nd largest agricultural exporter in 2023, the only African country in the top 40 in value terms. This was made possible by a range of trading agreements the South African government had secured over the past decades, the most important ones being with African countries, Europe, the Americas, and some Asian countries. The African continent and Europe now account for about two-thirds of South Africa’s agricultural exports, and Asia is now also an important market. The agricultural subsectors that have contributed most to this progress in exports are fruits, wine, wool and grains. South Africa now exports roughly half of its agricultural products in value terms, reaching a record $13.2-billion in 2023, according to data from Trade Map. The friction surrounding SA-US relations has added to the view that South Africa may be pushed out of AGOA and that agriculture would be under pressure in such a scenario. However, the reality is that South Africa’s agricultural exports directly to the US account for only 4% of the overall agricultural exports. And even if South Africa could be out of AGOA, that wouldn’t mean a blockage, but there would be tariffs of around 3%, reducing the competition of South African products. To be clear, I am not minimising what is at stake; the agricultural products South Africa exports to the US include citrus, nuts, wine, grapes, and fruit juices, amongst other products. For these industries, an exclusion from AGOA would be negative, but it would not be a collapse of SA agriculture. Beyond exports, the increase in agricultural output over the past 30 years is why South Africa is now ranked 59th out of 113 countries in the global food security index, making it the most food-secure country in sub-Saharan Africa. I recognise that boasting about this ranking when millions of South Africans go to bed hungry daily may ring hollow, as I pointed out after a few presentations where I cited these statistics. However, it is essential to note that many South Africans lack access to food due to the “income poverty challenge” rather than lack of availability due to low agricultural output, as in other parts of Africa. South Africa produces enough food but does not export all of it. A lot is kept domestically for the local market. To address poverty, South Africa must ensure employment and that households have sufficient income to buy food. The disappointing part of South Africa’s agriculture is the exclusion of black farmers. As I argued in my recent book, A Country of Two Agricultures, “Nearly three decades after the dawn of democracy, SA has remained a country of ‘two agricultures’. On the one hand, we have a subsistence, primarily non-commercial and black farming segment; on the other, we have predominantly commercial and white farmers.” The book adds that: “the democratic government’s corrective policies and programmes to unify the sector and build an inclusive agricultural economy have suffered failures since 1994. The private sector has also not provided many successful partnership programmes to foster black farmers’ inclusion in scale commercial production. It is no surprise that institutions such as the National Agricultural Marketing Council estimate that black farmers account for less than 10%, on average, of commercial agricultural production in SA.” This lacklustre performance by black farmers in commercial agriculture cannot be blamed solely on historical legacies. The democratic government is also blamed for its inability to support the development of the new crop of farmers. Fortunately, not all is lost. Plans and programmes are in place to sustainably increase the number of black farmers in the sector. The agriculture and land reform plants are not aimed at replacing the existing farmers with new black farmers. The government has around 2.5 million hectares of land to distribute with title deeds to black farmers. This will be “growing the agricultural piece” without threatening the property rights in the country. South Africa’s agriculture is robust and has room for growth. As we progress toward supporting the sector, there must also be room for young people to be included. Wandile Sihlobo is chief economist of the Agricultural Business Chamber of South Africa (Agbiz) Sources: The Conversation | Democratic Alliance | DALRRD | Economist Impact | The Conversation
VAT? What’s that?
By Koketso Mamabolo What’s VAT? Three simple letters have dominated headlines since the unprecedented delay of the budget speech in February, drawing speculation from all corners of the country, whether it be in the corridors of power, or in homes, on sidewalks, in public transport and all the places where people interact as they go about their lives, where every cent counts. Value-added tax (VAT) is the main indirect tax on goods and services. For most consumers it’s an extra cost we rarely think about unless we look closely at our till slips. We know that when we pay R100 for an Uber trip, for example, R15 goes to the South African Revenue Service (SARS). For Uber, and many other businesses, it’s a cost they factor into the final price, and revenue which they then pay to SARS. Referred to as ‘traders’ or ‘vendors’, who make taxable supplies of more than R1-million per annum, they have to register, and it must be charged on goods and services at every stage of production and distribution, including on importation and imported goods. Why VAT? In her book The Deficit Myth, economist Stephanie Kelton argues that there are four reasons why there are taxes of any kind. If the government allowed consumers to merely spend without taking a portion it could lead to an oversupply of the rand which would mean too much money would be ‘chasing’ too little goods and services. In other words, there would be more money than things to spend it on, otherwise known as ‘inflation’, which is one reason Kelton argues that we are taxed. A second reason, she says, is that tax can be used as a tool to change the distribution of wealth and income. With widespread inequality, it has long been referred to as a possible way of reducing the gap between rich and poor e.g. wealth tax. Governments can also use taxes “to encourage or discourage certain behaviours.” The ‘sin’ tax on tobacco products and alcohol, which always goes up (often above inflation), is an obvious example of a tax which is aimed at disincentivising consumption, as is carbon tax and South Africa’s progressive sugar tax. A fourth reason, one which is behind the increase the Finance Minister has proposed, is that taxes “enable governments to provision themselves without the use of explicit force.” The idea being that if the government stopped requiring taxpayers to pay using their rands there would be less taxpayers leaving the government with less money to spend on public goods and services such as roads, schools, healthcare facilities, and the salaries of the people needed to provide it all. With the initial 2% VAT hike National Treasury was expecting SARS to collect R58-billion in revenue to bolster efforts to fund a ‘growth’ budget which would dish out additional resources for education and healthcare, among other things. While taxes are an old instrument of funding the work of the state, VAT is a relatively new concept in South Africa, introduced only three years before the country became a democracy. Before VAT we had GST, the General Sales Tax, which was introduced in 1978. It began at a modest 4% but rose to 12% in early 1985. Unlike VAT, which has a limited number of goods and services which are exempt, GST was not charged on most food and most services. It was an administrative strain and did not generate much tax revenue. Enter VAT in 1991. What goes up… must go up? VAT was introduced as a way of simplifying indirect tax administration and broadening the tax base, creating a significant source of revenue for the state. It started at 10% and in 1993 was increased to 14%. The next increase was a quarter of a century later in 2018, to 15%. And now, in May this year, if the proposal is accepted, we’ll see a 0.5% increase, with another half a percent on the cards in April next year, pending review. In both instances, 2018 and 2025, the budget deficit has been a significant reason why this indirect tax was chosen as a means for collecting revenue. In short, if the government has to spend more than what SARS collects then they are left with a deficit. There are different schools of thought around how governments can proceed. Kelton belongs in the camp which, as the title of her book The Deficit Myth suggests, argues that the state is the sole issuer of a currency and is able, within certain limits, to fill the deficit by using the power of reserve banks to print money. In economic circles this concept is considered somewhat of a heterodox one, and the more orthodox line of thinking is wary of the inflationary effects of printing money, among other criticisms of what is called ‘modern monetary theory’. The dominant, orthodox strain approaches the deficit with caution, opting to incur debt as a way of filling the gap, and then working hard to service the debt and not incur too much more debt relative to the country’s gross domestic product (GDP). When VAT was first introduced, in 1991, the country’s debt was 33.9% of GDP, according to the World Bank. It had shot up to 59.1% by 2018 and is now sitting staggeringly close to 80%. National Treasury’s approach has been focused on debt as the main issue to contend with and has sought, quite aggressively, to tame it. From the time the ‘Governor’, the late Tito Mboweni, was called in to steer the ship as Finance Minister, through to his successor, Pravin Gordhan, until Hon. Enoch Gondongwana’s current tenure, austerity has been the main instrument used to try and deflate the balloon. There are many economists, like Kelton and the passionate South African economist Duma Gqubule, who would highlight that austerity has clear, negative effects, leaving a shortage of public servants and shortfalls in funding for necessary goods and services. The VAT hike, the Finance Minister explained, the day after “Budget 2.0”,
Your customers need to feel valued and recognised: How to give them the best experience
By Leigh Whiting On customer service and customer experience I believe the two are perfectly interwoven and separate at the same time. Customer Experience encompasses the entire journey, from initial discovery through to after the service is delivered. Every interaction is included and there’s a strong focus on how customers perceive those interactions, and how they feel about the sum of all the interactions. Customer service is just one aspect that contributes to the overall experience. It can be defined as the act of assisting and advocating for your customers before, during, and after the purchase of a product or service. The goal is to make sure that this is done while going above and beyond in solving customer problems and providing buyers with the best option possible. How you can improve customer service Consistently high levels of customer service are essential to making sure that customers become advocates for your business, so this should be a major focus for companies. As a starting point, customer needs must be understood, which means that having comprehensive data on each customer is crucial to being able to determine their key drivers and motivators. Secondly, feedback is crucial, and companies should actively seek and promote customer feedback. I think that in addition, any customer service delivery needs to be underpinned with a set of standards that helps keep an experience consistent. How you can know your customers are having a good experience “Delivering a great customer experience” has become a top strategic objective, a survey by Bloomberg Businessweek found. If a focus is placed on understanding your customers, and there is clear vision for CX in place, I believe that companies are setting themselves up for success, if they don’t lose sight of the entire journey. I think having a method in place for continuous feedback and by implementing metrics is a fair measure of improved customer experience. Reduced support requests are a better indicator of improved experience than Net Promoter Scores for me, personally, just because I believe that people will always seek help to resolve issues, but may not always reach out to share feedback. How to retain customers Companies that build the best customer experiences, by truly understanding customer needs and requirements and being able to respond to these in a rapid way, can see the benefits of that work reflected in the retention rate. There has never been as many options available to consumers as there is now in the subscription economy, so really listening is so important. According to SuperOffice, companies spend six to seven times more on acquisition than retention. The experience you create for your customers—both good and bad—may be the single largest determinant of your retention rate. Customer experience represents a summation of how customers feel about your brand, their interactions with your company at each point in the customer journey. By understanding the overall customer experience, teams can identify what changes should be made to improve that experience in the customer journey, and consequently the retention rate. 57% of respondents in the Zendesk 2020 Customer Experience Trends Report, said that customer service influences their loyalty to a brand. The importance of sustainable consumption Sustainable consumers are often confused with consumers that care about the environment and being eco-friendly. Beyond that though, sustainable consumers hold brands accountable across multiple practices, like respecting human rights and ethical workplace practices. Sustainable consumers matter as they support brands who are open about their values, and this encourages brands to operate sustainably. Putting the customer first “Customer first” is a method for companies to make sure that the customer is at the heart of every decision a company makes, more than products or internal business structures. It can be achieved by proactively seeking ways to deliver a positive experience, and consistently designing and delivering with the customer in mind. This may be an unpopular opinion, especially for someone who advocates client-centricity, but I don’t think the customer always comes first. I think that customers need to be held to account for their actions, interactions, and consumer behaviour. If any of these conflict with a company’s values, a company may want to question whether aligning themselves with that consumer is in their long-term best interest. I’m not saying that a customer first lens of always listening and responding to needs should be discarded, as I strongly believe that this level of customer care makes people feel valued, which results in loyalty to a company. It also means that a journey is designed with the customer in mind, meaning that their overall experience is positive. When we focus on understanding our customers, we can focus on delivering experiences that make them feel valued and recognised, which reduces churn, increases revenue and ultimately leads to higher profits. Single Customer View My foremost experience is that the lack of this single view of the customer and their journey is a major impediment to being able to ensure a positive customer experience. I think that an aggregated view across legacy systems is the best way for companies to overcome this challenge in the short term. That being said, as an experienced design professional AND customer myself, I think that when leveraged correctly, there are massive benefits for the company and the customer. As an example, a customer receiving a relevant offer with a discount voucher – at the right time means they feel understood and rewarded. Simultaneously the company increases sales, loyalty, and advocacy. It should always be mutually beneficial.
How to grow your turnover to over a billion rand
By Denise Persson, CMO at Snowflake How can your company scale and break through the competition to get to US$100-million (R1.8-billion) in revenue? This has been the biggest challenge at every startup I’ve marketed for and taken public over the past 25 years, including Snowflake. It’s no small feat. Back when Snowflake was founded in 2012, an extremely small percentage of companies made it. According to a 2013 study by the Ewing Marion Kauffman Foundation, only about 0.02 to 0.05 percent of companies founded in the United States reached US$100-million in revenues in a reasonable timeframe. There’s also no magic formula, and what’s most important is how well you execute. But there are a few strategies or pillars that I believe marketing teams should follow as they scale. These pillars were the cornerstones of our marketing success at Snowflake during our journey to US$100-million. Create strong positioning Positioning is actually more than a pillar of marketing—it’s the entire foundation. And just as with a house, if the foundation isn’t strong, the walls will crack. With strong positioning, you can avoid cracks in your marketing, and your program investments will be more effective. Author Al Reis describes positioning as the battle for your prospects’ minds. Winning the battle is about how well you differentiate yourself in their minds. The first thing you need to do is define the category you wish to own. In 2016 at Snowflake, the category we were determined to own was “The Data Warehouse Built for the Cloud.” Our positioning has evolved since then, and today, Snowflake delivers the Data Cloud. But for our journey to $100-million, that was our positioning. We ran extensive focus groups with real prospects to make sure that our positioning worked with people who didn’t know Snowflake. Most often, companies do a few interviews with current prospects or customers, but that isn’t really enough. The category that you’re creating needs to be relevant to companies you will sell to at the next stage of growth. You also get a lot of data and insight back from prospects, and this data-driven process makes it easier to get buy-in internally, which is vital to create consistency in your positioning. Your employees, partners, and customers all need to describe you the same way. So for more than three years, our Data Warehouse Built for the Cloud positioning was everywhere, and if anyone described us differently, we asked them to change it. You can’t win the battle for your prospects’ minds if you are changing who you are every six months. The more consistent you are, the more impactful your marketing will be. Be the most customer-centric When you look at what the most admired brands in the world have in common, you’ll see that they all own their categories, they’re extremely consistent with their brand experience, and they have incredible customer loyalty. Within Snowflake’s marketing team, our number-one priority from the beginning has been to put the customer first. That means that we think from the outside-in, all the time. What do customers need from us? We did a few things to make sure we always kept our focus on customers. Our marketing team ran almost daily meetings with our sales engineers who were out in the field with our customers. That helped us learn which questions and concerns we needed to address. To scale our content development in those early days, we got almost every employee involved with writing content and creating videos that were laser-focused on what our customers wanted to learn. This helped us create trust and credibility, which startups often lack. Whenever possible, we put actual customers at the forefront of our marketing programs. We have thousands of brand ambassadors among our customers today, and they are our most effective marketing. To get customers involved in our marketing efforts, we worked on building direct relationships with them and made sure there was value for them to participate. We also started customer advisory board meetings, where we gave our customers fake dollar bills and asked them to invest them in different parts of our roadmap. This helped us prioritise the things that mattered most to them. Finally, I recommend companies start an annual customer engagement survey as early as possible. This also helps you establish your Net Promoter Score (NPS) score. Every year, we measure every single component of our customers’ experience with Snowflake, and the survey provides us with invaluable insights. Build for scale Many startups get to US$20-million and experience a slowdown in growth. This often happens because they rely on manual work, and because they don’t build their marketing technology stack and processes to scale. In 2017, the big topic at every all-hands meeting at Snowflake was around automating more work so we could get rid of the “hamsters.” The hamsters were all of the resources doing work that should be automated. In the beginning, they were very important in doing things such as setting up accounts for our customers. But it wasn’t really until we had a fully automated provisioning system that our free-trial sign-ups took off. We also built our marketing technology stack to scale with our growth from the beginning. If you don’t, you’ll have to slow down and start replacing parts, hindering your momentum. In addition, we scaled every component of our demand process. For example, we introduced live product demos to cut down on one-to-one meetings. We instituted a weekly Office Hours session where prospects can talk live to a reference customer and get all their questions answered. This eliminates the one-to-one reference call request and helps us respect our customers’ time. For startups looking to scale to US$100-million quickly, get rid of the hamsters as soon as you can, make sure your technology can grow with you, and find ways to improve every component of your buyers’ journey that is time-consuming. Be bold To break through in today’s competitive market and compete with large, well-known brands, you have to get noticed. The
The ESG balancing act
By Topco Marketing Achieving balance across the three pillars of ESG (Environmental, Social, and Governance) is a complex challenge that many organisations face. Implementing an ESG strategy can be daunting, especially when considering the various hurdles that must be overcome. There are several reasons why ESG implementation can be difficult: According to a LinkedIn survey conducted by Kaizen Institute in 2024, 40% of respondents prioritise the Environmental Pillar of ESG, often overshadowing social and governance aspects. To achieve true balance, organisations must adopt a holistic approach that integrates sustainability into every aspect of the business. So, how can organisations overcome common ESG challenges and achieve success? Despite these challenges, there are several strategies that businesses can employ to overcome them: Join the conversation The Future of Sustainability Conference hosted at Emperors Palace in Johannesburg, is a must-attend event for professionals and stakeholders across industries focused on sustainability, innovation, and transformation. Set to take place on 26 and 27 March 2025, the event promises to foster rich dialogue, inspire actionable insights, and spark collaborations that will shape the future of Africa’s sustainable development. Join us to learn how to: The Future of Sustainability conference: Where connections meet innovation Our conference is the perfect platform to connect with organisations and individuals who share your passion for sustainability. Join us to: Top speakers to watch We are proud to announce an exceptional lineup of keynote speakers and panellists, each with unique expertise and a shared vision for Africa’s sustainable future: Key topics and panel discussions This year’s conference will feature high-impact panel discussions tackling the most critical issues surrounding Africa’s sustainability journey. Expect thought-provoking conversations on: Have a look at the programme here and the event fact sheet here. Thank you to our gold partner, Heineken Beverages South Africa; our premium digital partner, iME; our silver partner, Old Mutual Insure; our bronze partners, Nestlé, Nespresso, Dell Technologies/Intel and Isanti Glass; and our showcase counter partner, AECI. A special thank you to our knowledge partner, The Carbon Trust, and strategic partners: UN Global Compact Network South Africa, Good Governance Africa, GreenCape, and Primedia Out of Home. Don’t let ESG scare you! Partnering and collaborating with other organisations might be your solution. 🌱 Register now Secure your spot at the Future of Sustainability Conference and start driving ESG success through effective communication, collaboration, and connection. Ticket link: https://qkt.io/FOS2025 For more information go to the Future of Sustainability website Invoices are available upon request from marketing@topco.co.za
What to look for when recruiting
By Juanita Vorster Business leaders across the globe worry about attracting and retaining top talent, especially as remote and hybrid workforces are becoming the norm. In their responses to surveys they often list it as a main inhibitor of profitable growth into the future! Despite this, most business leaders and managers prioritise other tasks over recruitment and talent selection rather than seeing it as a vital part of their jobs. In addition, many business leaders and managers do not have the skills required to ensure that the right people are found and placed in the right jobs. Statistically, using traditional recruitment methods has a 60% failure rate, resulting in an enormous waste of time and money. Getting recruiting right is therefore something that can’t be left to an HR department or line manager alone; business leaders have to get personally involved. Getting the right people for the right jobs as a four-stage process with each step being of equal importance: Specify Before advertising a vacancy, business leaders must be crystal clear about the job specification as well as the attitudes and behaviours of the person needed for the job. This, in turn, needs to align with the purpose, vision and values of the company. The best talent has a choice these days and will simply not work for an organisation whose values they don’t share; another reason why leadership needs to be actively involved in recruitment. These specifications should be written down and be clear enough for anyone to understand. This will help to prevent two common recruitment mistakes: deciding what the job specifications are based on the available talent or hiring based on chemistry rather than true fit. The popular saying “hire for attitude, train for skill” is very noble in its intent, but business owners and leaders adhering strictly to this sentiment might run the risk of not achieving the optimal mix of behavioural competencies needed for peak performance. Find Owners and leaders of smaller organisations often fall into the trap of thinking that they won’t be able to attract top talent, so they approach the vacancy listing process with a timid attitude. Top talent isn’t always the most expensive people or the most qualified. Instead, they are the people who are the absolute best fit for a specific role in a specific organisation. It is therefore of utmost importance that a vacancy listing is not just a list of required skills and experience; to attract the appropriate talent, the vacancy listing must reflect the true culture and values of the business and what it’s like to be part of the team. To access the top talent pool, business leaders must involve those who are experts in selling the benefits of the company in creating the vacancy listing. Marketing people are often a better choice for this task than an HR department or even recruitment agencies. That is the best for a business to attract top talent – that might be currently employed – rather than limit itself to a talent pool of despondent job seekers. During the interview process of shortlisted candidates, top talent will most likely ask questions to help them determine whether the values of the business align with their own values. If they can’t get a clear idea of what the values are or how the business practically lives those values, or they feel that their values do not align with those of the business, they’ll go look for employment somewhere else. Assess It is astonishing that many companies around the world still rely on an impressive CV with one or two interviews as the only activities to recruit talent. Even references can’t be guaranteed as a mark of quality as they can be influenced by litigation around labour disputes. True top talent will be able to prove that they are the best during an assessment that must form part of the recruitment process. The difficulty of the assessment will of course differ depending on the job level recruited for, and businesses must never abuse the assessment process to gain free insights or labour. Assessments may appear to be time-consuming and costly, but the cost of getting recruitment wrong has been estimated as about four or even five times the employee’s annual salary! It’s therefore much less expensive to use assessments than to recruit and train an employee who was never right for the job or whose aspirations conflicted with those of the business. Negotiate The final stage in the recruitment process should be a discussion and negotiation between the selected candidate and their potential direct manager on the exact details of the role and remuneration package. People can truly make or break a business – irrespective of its size or shape. With economic pressure rising and an increase in leadership burnout, no business leader can afford to stand back and allow mediocre talent to come on board. Juanita Vorster is a successful entrepreneur with a knack for turning complex business concepts into simplified, practical advice.
The B2B Formula: The 5 key pillars to growth engineering
By Andrew Honey, Founding Partner and Group CEO of ThinkSales Global B2B market-leading companies are led by CEOs who understand the factors that impact revenue growth and profitability and then design a strategy to address these factors. Factors impacting revenue growth and profitability in the B2B landscape: Revenue growth engineering: How market leading B2B companies do it Ultimately, for B2B companies to excel, they must enable the Sales organisation within the business to deploy a customer-centric, differentiated customer engagement process. The 5-pillars of a market-leading B2B sales organisation The foundation of a successful B2B organisation is what we call a ‘revenue growth approach’ that simultaneously focuses on sales growth and margin protection. There are five key pillars that must be developed and then matured in every organisation to achieve this goal, finally reaching a level of optimisation that ensures a strong, sustainable and above-all competitive B2B business. The five key pillars of a high-performance sales organisation: 1. Competitive strategy Many companies do not have a documented, customer-centric sales organisation strategy that differentiates the organisation for a competitive advantage. Instead, many companies simply have a set of actions they will take to make a budget, not founded on market opportunity, but rather an increase on the previous year’s sales. Furthermore, strategy too often fails to be translated into an execution. As a result, sales managers are not equipped with a clear road map of where to focus or what exactly their sales reps should do differently. The solution: Executives should conduct a 360-degree GAP analysis of their sales organisation and then design an ideal future-state strategy. The potential for a competitive advantage for a company is for the sales organisation to perform a set of activities differently to their competitors. This is simultaneously differentiating and difficult to commoditise. 2. Customer engagement If the process and systems for prospecting and customer engagement is either not defined or randomly followed by sales reps, the business has no control over how customers are perceiving a B2B organisation. This can result in sales teams who are unable to articulate value to customers or guide them through a quality decision-making process. The solution: B2B organisations must develop an agile approach to mapping, refining and testing processes in response to changing business environments and customer needs. 3. Sales talent An ill-defined approach to hiring and developing sales talent means that leadership teams do not develop star performers who are able to articulate value and differentiate the business. This often leads to missed opportunities and missed targets, because the sales team is unable to engage on value and with the correct level of stakeholders on a B2B level. The solution: Building a strong sales force starts with hiring. Companies that rely on scientific assessment tools over gut instinct to identify competitive sales DNA will win in the end – as this will result in a high percentage of sales reps who can meet their revenue targets. 4. Sales management In many organisations, top sales reps are promoted into sales management positions in the hope that a star performer will somehow rub off on sales reps who report to them. The reality is that this is seldom the case, particularly if the sales rep in question relied on their charisma and relationship-building skills to close deals. The solution: Strong sales management abilities rely on a systematic, metrics-driven approach including coaching to drive sales rep activities and outcomes. They also need good change management capabilities as B2B customers are constantly evolving and changing, and so how an organisation sells to them must be both agile and adaptable. 5. Sales enablement Since 70% of B2B buyers are doing their own online research before they even reach out to a brand, presenting compelling collateral that effectively positions your solution is an important foundational principle. How a customer engages with your brand is therefore the product of sales collateral that supports the entire buying funnel. The solution: A buyer-centric view is essential when developing engaging collateral. Industry-aligned and needs-driven content captures a buyer’s attention, while evidence-based case study content that demonstrates a strong return-on-investment is important to help position your brand as a leader, overcome scepticism and justify buying decisions.
Social media lead generation ideas for your business
By Rucien Petersen, Managing Director, Spottmedia There are many challenges businesses could face when it comes to building a brand on social media. A few challenges include lack of creativity, online reputation management and the ability to become noticed and stand out. However, there is one challenge and theme that is becoming a daily issue for many businesses and that is the creation of content on a consistent level. Content is the life blood for a business on social media. If you do not have content your socials become inactive and dormant. There are three main aspects brands should consider when it comes to positioning themselves on social media. These aspects include education, information or entertainment. The creation of content should be based on these three aspects and should align to the business goals and objectives. Below I discuss a few ideas we focus on when creating content for a business on social media. Here are 7 social media lead generation ideas to try next: Run a competition If you start out generating followers and engagement is not that easy. A great way to draw attention, generate followers and engagement is to run a competition. Partner with brands that align to your company’s values. When it comes to running a competition the trick in making it a success is the prize on offer. Make sure the prize is of a higher value, what we found with competitions is that the higher the value, the higher the interest and traction. Product/service feature and benefits If you are stuck with creating unique content the simple and easiest content to focus on is your product and service offering. However, we found that most brands are going this route on social media. One way to differentiate yourself from your competitors is to focus on the benefits customers will derive from your product/service. So instead of simple images of the product, share more about the experience and value potential customers will gain from it. Blog Blogging contributes to your brand being found online and is an effective tactic used to educate potential customers. Besides writing about the value your product/service can offer, you can also write about solution offerings. The words “How to” have been the most searched keywords on Google. Blog using ‘How to’. If you are a baker, you can write regular blogs on How to bake the perfect chocolate cake? How to bake a simple carrot cake? How to start a bakery? Use this content on your website as it will help your business with SEO (Search Engine Optimisation) then share this content on your social media pages. Tips Another form of content can be to provide weekly tips. Once you understand who your target audience is. Try to see how you can add value to them by providing tips and ways to overcome the challenges you have experienced. These tips can be in the form of short video clips or carousel images. CSI (Corporate Social Initiative) There are many needs within our communities. As a startup or small business you might not always have the funds to sponsor a NGO. The easiest way to get involved in your community is to offer what you have (service, product or knowledge). This will only cost you time and you can use the sponsorship as content for your social media pages. Customer reviews Credibility and trust is a major issue when it comes to consumers buying into your business and service offering. Asking your clients for reviews and posting it on social media gives you more content to play around with and to use. Posting your customers feedback instills confidence and trust amongst potential customers when conducting research online on your brand. User Generated Content Humans connect with humans and user generated content is an effective way to establish a human connection. User Generated Content can either be in the form of your clients or an influencer campaign. You can post about your clients’ experience in your store or shop. Alternatively run an influencer campaign where you run a trade exchange offering an influencer product/service in exchange for posts over their social media platforms.
Video and audio surveillance in the workplace
By Jessie Taylor A balance of rights Video and audio surveillance in the workplace is an increasingly common practice used by employers to monitor employee behaviour, ensure security, and prevent misconduct. However, while surveillance can be a useful tool, it also raises important legal and ethical considerations. Employers must balance their need to protect company interests with their employees’ rights to privacy. Employers often face challenges when proving employee misconduct at the Commission for Conciliation, Mediation and Arbitration (CCMA) and bargaining councils. The burden of proof lies entirely on the employer to establish that a dismissal was fair. Many employers rely on video evidence to strengthen their cases, believing that visual proof of wrongdoing, such as theft, guarantees a favourable ruling. However, this is not always the case. While the CCMA and courts have accepted video evidence in certain cases, there have been instances where such evidence was rejected. Factors that influence the admissibility of video evidence include: While video evidence can be useful, it is not automatically admissible. Employers must ensure compliance with evidentiary and privacy laws to use surveillance footage effectively. In South Africa, workplace surveillance is subject to various legal provisions, including: Employers must inform employees of surveillance measures and ensure that monitoring does not infringe on their rights. Failure to comply with these legal requirements may render surveillance footage inadmissible in legal proceedings and expose employers to legal action. Employers do have certain obligations when installing surveillance in the workplace. While employers have the right to implement surveillance, recourse is available to employees who feel their rights have been violated. Video and audio surveillance can be a powerful tool for employers, but it must be used responsibly and within the boundaries of the law. Employers should prioritize transparency, compliance, and fairness when implementing surveillance systems to avoid legal disputes and maintain a positive workplace environment. On the other hand, employees should be aware of their rights and take action if they feel their privacy is being infringed upon. A well-balanced approach ensures that workplace surveillance serves its intended purpose without undermining trust and employee well-being. Sources: Labour Guide | Legal Leaders