AI and the law
By Jessie Taylor The AI advantage: Combating financial fraud in South Africa’s digital economy In an era where the digital economy is rapidly evolving, South Africa is witnessing both remarkable advancements in financial services and a surge in increasingly sophisticated fraud schemes. From online banking to real-time payments and digital insurance claims, financial transactions have never been more convenient – or more vulnerable. Against this backdrop, artificial intelligence (AI) has emerged as a critical line of defence, revolutionising the fight against fraud by enabling real-time detection, smarter prevention strategies, and better protection for consumers. Why AI makes a difference Financial fraud in South Africa continues to pose a serious threat to both consumers and businesses. From card cloning and phishing to identity theft and fraudulent insurance claims, the methods employed by fraudsters are diverse and constantly evolving. According to the Association for Savings and Investment South Africa (ASISA), South African life insurers and investment companies detected 13,074 cases of fraud and dishonesty in 2023, marking a 46% increase from the 8,931 cases reported in 2022. The industry successfully prevented losses amounting to R1.5-billion in 2023, up from R1.1- billion in 2022. However, actual losses due to fraud rose significantly to R175.9-million in 2023, compared to R77.2-million the previous year. Traditional fraud prevention methods, often reliant on manual review and static rule-based systems, are no longer sufficient to address the scale and sophistication of modern fraud. However, AI systems can process and analyse vast volumes of transaction data in real-time, identifying suspicious patterns that humans or traditional systems might miss. These patterns may include unusual spending behaviours, large purchases made from unfamiliar locations, or transactions occurring at odd hours. By detecting these anomalies early, banks and financial institutions can intervene before damage is done. One of the standout features of AI is its scalability. Unlike human fraud teams that struggle to keep pace with growing transaction volumes, AI systems can scale seamlessly to handle millions of transactions without sacrificing accuracy or efficiency. This is particularly crucial as South Africa’s banking sector continues to expand and embrace digital banking solutions. As payment methods evolve – through real-time clearing and card-not-present transactions – fraud risks evolve alongside them. AI strengthens payment systems by offering dynamic fraud detection capabilities. It doesn’t merely flag transactions – it evaluates context. Through predictive analytics, AI can discern between legitimate anomalies and actual fraud, reducing the number of false positives that frustrate customers. With machine learning, these systems continuously adapt, learning from new threats and updating models accordingly. The ethical concerns Despite its many benefits, the implementation of AI in fraud detection is not without challenges. One of the primary issues is the “black box” nature of AI systems—the difficulty in explaining how decisions are made. This lack of transparency can become problematic, especially under scrutiny from regulatory bodies such as the Financial Sector Conduct Authority (FSCA) and the South African Reserve Bank. These regulators demand clear reasoning for actions taken, particularly when customer accounts are frozen or claims denied. Moreover, compliance with the Protection of Personal Information Act (POPIA) is paramount. AI systems must be designed to handle personal data responsibly, ensuring data privacy and minimising the risk of bias. If an AI system is trained on skewed data, it could disproportionately target certain demographics, resulting in unfair treatment and legal liabilities. As banks and insurers adopt AI to prevent fraud, fraudsters are simultaneously leveraging AI to perpetrate it. A 2023 PwC report warned that criminals are expected to adopt AI tools on a much broader scale, intensifying the arms race between fraud detection and fraud execution. This raises the stakes for South African institutions. Continuous innovation and cross-sector collaboration are vital to stay ahead. Financial institutions must invest in agile AI systems that evolve in tandem with new threats, and they must also share insights and intelligence with peers and regulators to form a united front against cybercrime. AI alone cannot eliminate fraud, but it can be a formidable part of a broader fraud prevention strategy. As AI tools mature, their ability to improve compliance reporting, automate suspicious activity monitoring, and provide early fraud warnings will only strengthen. AI is ushering in a new era of fraud prevention in South Africa. From detecting anomalies in milliseconds to analysing claim documents for manipulation, AI allows financial institutions to act swiftly and decisively. While data quality, transparency, and regulation challenges remain, the benefits are too significant to ignore. The financial sector stands at a crossroads: evolve with the times or risk falling behind. With responsible deployment, ethical safeguards, and continuous improvement, AI can secure the digital financial ecosystem for both businesses and the public. In the fight against fraud, it’s not just a matter of using AI—it’s a matter of using it wisely. Sources: CMS Law | Standard Bank | ASISA
From idea to impact: How to create meaningful wellness initiatives
By Sue Ramauthar Employee wellness is no longer a “nice-to-have”—it’s a business imperative. Human Resources professionals are being increasingly tasked with finding meaningful ways to support staff health, engagement, and performance. But turning a wellness idea into an effective, engaging, and sustainable initiative requires more than a fruit bowl in the breakroom or a 5km fun walk. So where do you begin? And how do you ensure your wellness initiatives truly resonate with employees and deliver lasting impact? 1. Start with the ‘Why’ Before diving into activities and perks, pause to define your purpose. Why is wellness important for your organisation? Where are your priorities? To reduce absenteeism? Improve morale? Support mental health? Retain top talent? Establishing a clear goal will shape everything from your budget and timelines to the types of interventions you implement. 2. Let your people guide you No two workforces are the same. Start by conducting a wellness needs assessment—this could be through anonymous surveys, health risk assessments, or focus group discussions. Find out what your employees truly want and need. For a mining workforce, for example, musculoskeletal support and nutrition may be top priorities, while a corporate setting may lean toward stress management and digital wellness. 3. Develop a strategy that fits Once you understand your employee needs and organisational goals, it’s time to map out a structured wellness strategy. This should include: 4. Create a wellness culture, not just a calendar Wellness is not a once-off campaign; it’s a culture. That means embedding wellness into the rhythm of your organisation—aligning initiatives with the company’s values, getting leadership buy-in, training wellness champions, and ensuring managers ‘walk the talk’. A strong culture of wellness drives voluntary engagement and sustains momentum beyond short-term programmes. 5. Partner with the right people One of the most effective ways to bring your wellness vision to life is to collaborate with a partner that understands how to translate strategy into a live, impactful campaign. Our team works closely with HR and leadership to create bespoke, innovative, and highly engaging wellness programmes—from on-site allied support for employees to engage challenges and awareness campaigns tailored to specific workforces. 6. Evaluate, adapt, evolve Wellness is a journey. Monitor your programmes regularly—collect feedback, measure outcomes, and refine your approach based on what’s working and what’s not. Use data to demonstrate impact and keep leadership informed of both the wins and areas for growth. Final thoughts A well-thought-out wellness programme not only supports the health and happiness of your people – it enhances productivity, strengthens culture, and boosts your brand as an employer of choice. By starting with strategy and choosing the right partners, your wellness vision can become a powerful force for positive change. Sue Ramauthar is a corporate wellness practitioner and physiotherapist at SuedeWellness
Are you conquering your work week?
“Never again will that to-do list go unchecked – all you need is a few small changes to take control of your career and conquer your week.”
Miskyah Toth, CEO, Business Directive Contract Services
“Your greatest achievements often align with your greatest challenges.” BDCS is your all-in-one workforce management partner, specialising in the supply chain and logistics sector. We provide efficient, cost-effective staffing solutions, powered by innovative technology and a people-first approach. From recruiting and training top talent to handling payroll, HR, and statutory requirements, BDCS ensures that operations run smoothly. With a focus on streamlining operations, reducing costs, and boosting efficiency, we help businesses access pre-vetted workers on demand while staying compliant with labour regulations. Our mobile app empowers the workforce by offering easy access to pay slips, leave management, and payroll queries, allowing companies to scale confidently and adjust to changing demands. Miskyah Toth founded Business Directive Development Group (Pty) Ltd in 2012; eight years later an opportunity arose to purchase a contract with a leading South African online retailer. At that stage, more than 250 people were employed by the company. Business Directive Development Group (Pty) Ltd purchased the contract and Miskyah then created Business Directive Contract Services (Pty) Ltd (BDCS) to manage the contract of BDCS’s functions as a separate entity, under the auspices of Business Directive Development Group (Pty) Ltd. To put things into perspective, the outbreak of COVID-19 began in Wuhan, China in December 2019 – so the purchase of this contract was made at the beginning of the global pandemic.“I was, however, very comfortable with my decision. It allowed me to think outside the box and it allowed me to think bigger. We’ve since expanded our services, providing more tailored solutions, and empowering businesses and job seekers through comprehensive, personalised recruitment and career management strategies,” – Miskyah Toth. We asked Miskyah to share with us what it takes to be a game changer in the HR realm: Iron in silk After years of dedication and sacrifice, I have earned recognition on a global stage. In 2024, CIO Views named me one of Africa’s 10 Most Empowering Businesswomen. I was awarded Female Entrepreneur Coach of the Year in South Africa by MEA Markets and honoured as the Top Global Business Leader by the International Association of Top Professionals. Additionally, I was chosen as The Women Leader of the Year in Human Resource Management by the Asian-African Chamber of Commerce and Industry and selected as 1 of the 100 Most Influential Women in South Africa. As described, ‘Iron in Silk’ – is “strength enveloped by beauty and grace”. These accolades are a testament to overcoming significant challenges, including managing over 500% growth in just four years and navigating the complexities of running a large company as the sole female owner. Maintaining my health and balance amidst these responsibilities has also been a crucial challenge. What is your ‘why”? My “why” is simple – to empower people. Whether it’s helping someone land their dream job, supporting businesses with their recruitment needs, or mentoring young entrepreneurs, my purpose is to uplift others. This message stems from my own life experiences, including the challenges I faced as a businesswoman and single mother. I’ve always believed that with the right support, anyone can overcome obstacles and achieve success. I founded BDCS to create opportunities and provide that support to others, particularly in South Africa, where high unemployment rates make empowerment through job creation so crucial. Miskyah.com Miskyah.com is a platform that showcases my journey, insights, and expertise as a leader and entrepreneur. It is a space where I can share my thoughts on business, empowerment, and personal growth. Through this platform, I also aim to connect with aspiring entrepreneurs, business leaders, and anyone looking for inspiration or guidance. Miskyah.com offers a blend of personal stories, business tips, and reflections on leadership. It’s also a place where I promote my autobiography Iron in Silk, which delves deeper into my experiences and the lessons I’ve learned throughout my life and career. Through this platform, I provide aspiring entrepreneurs with the tools and guidance they need to succeed. My “Let’s Talk Business” series is designed to share real-world insights, helping individuals turn their ideas into thriving businesses. Additionally, my “Women for Change” initiative is a space where women can find inspiration, mentorship, and community support to pursue their dreams. I am passionate about coaching and developing entrepreneurs, equipping them with the strategies and confidence to navigate their entrepreneurial journey with resilience and success. The most important game-changing trends in HR? Technology, particularly AI, is revolutionising HR. AI-driven recruitment tools streamline hiring, ensuring faster and more precise candidate matching. Additionally, hybrid work models are here to stay, with flexibility becoming a key factor in employee satisfaction. Diversity, equity, and inclusion (DEI) initiatives are also transforming the workplace, emphasising the importance of creating inclusive environments where all employees can thrive. Lastly, mental health and well-being are taking center stage as companies recognise the need to support employees beyond their professional roles. HR leaders must adapt to these trends to stay competitive and cultivate thriving future-ready workplaces. What does securing the naming rights for the Future of HR Conference and Awards mean to you and your company? Securing the naming rights for The Future of HR Conference and Awards is a significant milestone for BDCS. It reflects our dedication to driving innovation in HR and our commitment to being at the forefront of industry trends. This partnership allows us to showcase our leadership in HR recruitment, while also contributing to the ongoing conversation about the future of work. It’s an opportunity to highlight our values – empowerment, technology integration, and talent development – on a larger scale, while also creating meaningful connections with other industry leaders who share our vision for the future of HR. Advice for aspiring entrepreneurs My biggest piece of advice is to stay resilient. Entrepreneurship is a journey filled with highs and lows, and success often comes from how well you handle challenges. Always be willing to learn and adapt because the business world is constantly evolving. Surround yourself with people who inspire and support you, but don’t be afraid to make tough decisions
How do we define leadership in a competitive world?
By Daniel Makoni, Managing Director of wCyber There is little doubt in anyone’s mind that the market today is challenging. Companies are looking for the competitive advantage, customers are trying to get more for less, and growth continues to be slow. It’s a tough landscape, but it is one that business leaders can navigate strategically by taking the right steps in the right directions. These are the times that define leadership, and can allow for entrepreneurs and executives to reshape their companies and the ways in which they do business. And these are the questions that you should be asking to help you refine your business and your approaches: 1. Is my product or service genuinely adding value to the customer? This is the most important question. Is this work, this solution, this service actually solving a real problem? Is it relevant and necessary? A business that can answer this question clearly is defining its market and its target. Once you have a clear understanding of what needs to be done, the how gets much easier. 2. Do I have the right people in the right roles? You need the right people doing the right job if you want to fulfil the needs of your customers. Customer service expectations only grow as the relationship grows and this is rapidly becoming a key differentiator, regardless of market. To serve your customers the quality they expect, the motivation of your people is key. Focus on building your internal relationships as much as your external ones. 3. How am I using the technology at my disposal? With the right technology, you can either cut costs or increase revenue. With the right tools, you can take advantage of opportunities that may have previously slipped past, and you can add an edge to your efficiencies and productivity. There are many examples of companies taking tech to the next level – from Amazon using drones to a sole trader adopting a point-of-sale system that helps them better serve their customers. Getting the right tech and using it properly will give any business a boost. 4. Is the business model viable? There isn’t much value in running a business that isn’t sustainable, and sustainable means financial and impact-based returns. Always check if the operations of your business are achieving what they set out to accomplish and have a finger on the pulse of your financial health. Ensure that financials, operations and systems are healthy to maintain a sustainable and successful business. 5. Should I pivot or stay the course? This is, of course, the million rand question, and one of the toughest decisions to make for a business. It needs to be based on both empirical and intuitive evidence and with an agile mindset. Agile is not just a concept, it is an understanding and merging of all considerations. The ability to constantly adapt the business is something that every leader should be able to do. Assess the market, stay abreast of the events taking place, and learn as many lessons as possible from the pandemic. Take lessons from those who succeeded – AirBnB introducing experience tours – and those who failed – companies that refused to go digital. And sometimes, just recognise that timing, planning, people and technology are good enough to ensure that your business can stay the course to success.
How HR can make strategic decisions for your organisation
By Liquid Thought Despite seeing it in company values and website pages, how many businesses can clearly define what it means to be people-focused? Sustainable innovation can be defined as optimising a business at a people level and to achieve it requires a spark of ambition from leaders. This article unlocks smart insights that spotlight HR as a vehicle for sustainable innovation and how creative agencies are leading the way for corporations to follow in this regard. As you navigate, you’ll discover; Knowledge, action, and direction: Leaders who pioneer Human-centred leadership is defined as “leadership that values people.” But how does this manifest itself on a daily basis? We’re seeing how the concept shapes communication, and perspective, and unlocks a sense of trust. It modifies how we approach problems and find progress. “A leader is one who knows the way, goes the way, and shows the way.” We’ve seen how a setup encourages collaboration and an environment has the potential to stimulate employees to be the best version of themselves, but a convenient and comfortable workplace requires one to champion the basics first, then infuse them into your results. Resourceful spaces and personalised experiences are built by transparent and inclusive leaders who constantly steer a balanced ratio between their people, the work they produce and how that evolves their company’s reputation. To be more inclusive and authentic with the employees you serve, let’s take a look at three insights you might want to jump onboard with: We can easily camouflage ourselves in the digital world, but on the other side, there will always be people. Although the notion of humans as a resource – hence “HR” – has prevailed for too long, the realisation that people are more than a resource to be exploited, and rather an asset to be nurtured, is fast gaining traction amongst the savvier companies. Supervising purpose to accelerate growth: A mission statement generated by people HR has emerged as the compass for modelling attitudes and establishing a rich workplace filled with various personalities. To achieve this, HR leaders are diving deeper into data to further understand an employee’s experience. Being authentic in today’s world is more crucial than ever, and one way to do this is by having a purpose based on an ethos, unique to the brand, vital to all stakeholders, and aligned with values. Knowing someone’s triggers as well as their strengths improves communication and helps to build a motivated team; it is at this point that the ‘why’ begins to take shape and a purpose starts to spark. Employee pride, value-based decision-making, behaviour, goal-setting, and a sense of purpose all provide meaning to the work being done, which helps workers get through late nights, tight deadlines, and personality conflicts, or simply go that extra mile when they have the potential. To get a headstart, it’s essential to determine each coworker’s unique style in order to influence and connect with them on a deeper level. After that, tweak your behaviour and adapt the corporate behaviour in response to get the best out of each person. Enhancing your business IQ: Great teams don’t hide from mistakes, they embrace them. An HR specialist can open doors and create synergies with the workflows they design. They have what it takes to champion people to deliver with skill and commitment. Removing outdated methods and replacing them with an iterative-learning path that broadens their skill-set while boosting their self-assurance and helping you achieve mastery. Instead of continually nurturing from the top down, high-performing organisations and well-oiled teams do so in reverse, from the bottom up, as a means of creating transferable skills. Workplaces such as this are driven by innovation and in order to do so, depend on their employees, and their success is contingent on how they treat the people who deliver the results. A cultural lens must constantly be used in HR practice when deciding how to alter one’s tone and internal mechanics. It involves being flexible and agile in how people work, as well as experimenting and testing to the point where lessons from mistakes are used in future efforts to improve performance. It’s the concept of a fertile environment that is constantly under construction, and in a highly competitive market, this can only distinguish your product from the rest. To conclude How you make holistic wellness a key component in your workplace is what creates an environment that thrives with happy people. Happy people are more productive, create stronger, and more cohesive teams, and the minute you begin checking the pulses of employees is the minute you start accelerating the desire to work for your company. HR’s integral role in all of this comes from optimising a business at the level of people and in doing so achieving so much value for an organisation. HR’s involvement in strategic decision-making means wearing the leadership hat and in doing so, can accomplish: Liquid Thought is a collective of Engineers, Creatives, Makers and Marketers – curious, talented and agile humans on a mission to unlock clients’ digital potential. The agency has been working on a range of leading corporates and impactful start-ups for over 21 years.
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
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.