Read More "How Laughter Can Positively Transform A Workplace"
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]]>How Laughter can positively transform a workplace
Laughter is a free and underutilised resource that any workplace can benefit from. With stress and anxiety at peak levels across Australia, a good laugh can be refreshing and relieve tension from deadlines, overbearing colleagues, and revenue targets. Happier, livelier workplaces also tend to output excellent products and services as the employees tend to perform better, are more satisfied, and report less for stress and burnout.
There are also clear physical and mental benefits:
Physical benefits of laughing
- Decreases stress hormones
- Releases pain-reducing endorphins
- Improves immunity
- Gets your heart pumping
- Enhances intake of “oxygen-rich” air
- Aids muscle relaxation
Mental benefits of laughing
- Reduces stress
- Reduces negative feelings like anxiety and anger
- Boosts mood and creative output
- Boosts engagement and well-being
- Boosts analytical precision
How does laughter make me a better leader?
Cultivating and encouraging an atmosphere of laughter makes your colleagues enjoy working with you more and increases the trust you have with them. When they can see a good sense of humour and your ability to showcase your funny side every now and again, it doesn’t make you look any less of a professional, but instead, it creates a stronger relationship.
Managers should strive to create a habitat where employees feel supported to bounce ideas around without the fear of being shot down or judged. Entrepreneur Peter Sims wrote in his book Little Bets, “A playful, light-hearted, and humorous environment is especially helpful when ideas are incubating and newly hatched, the phase when they are most vulnerable to being snuffed out or even expressed because of being judged or self-censored.”
Another incentive to inject laughter into the workplace is that there is a correlation between executives who used humour and the bonuses they received. According to Fabio Sala in Harvard Business Review, the “funnier” an executive was, the higher the bonus.
How do I use humour at work without it being a liability?
Within the bounds of decency, laughter overall is a positive thing, and the benefits are countless. It is important to be conscious of the volume within your workplace and to avoid distracting colleagues. Teasing other staff members and telling dirty jokes is not the way to using humour in the workplace.
Here are some ideas of what you can do instead:
1. Master the art of self-deprecating humour
Making fun of yourself is always a safe choice in the workplace because it is unlikely to offend anyone. This type of humour indicates to others that you don’t take yourself too seriously and that you are a good sport about your shortcomings. Do not joke about your job skills though because it may put your capabilities into question.
2. Start meetings with work-appropriate jokes or funny stories paired with your intentions
You can say something like, “I believe we can laugh and enjoy ourselves whilst achieving our objectives. Please don’t mistake my use of humour as a lack of concentration. When we have a lively environment, you are more likely to be open to sharing, learning, and retain information for longer.”
3. Host “silly days”
Have employees dress up in silly socks, hats, glasses, etc. This is especially easy and fun to do when working from home.
4. Set up a funny library
Create a funny library with work-appropriate memes, jokes, GIFS etc.
5. Wordplay
Dad jokes and puns can be groan-worthy but if you manage to cleverly spin some industry-specific concepts, then you may be able to elicit a few laughs depending on the person.
5. Sarcasm
Sarcasm can be extremely effective, charming, and clever if used correctly. Use it sparingly at work because it can also send mixed messages. Stay away from using sarcasm for delivering important messages.
A little laughter at work goes a long way. It is the sound of successful collaboration, bonding, and a supportive environment. Consider ways of making your workplace more joyous as the mental and physical benefits of laughter are immense. Don’t be afraid and let out your chuckle, chortle, or even your full-belly laugh!
Are you in need of a hearty laugh and a good drop of wine? Victory Offices, Business In Heels, and Naked Wines are partnering to deliver exactly that! Join us for a fun and lively evening with headlining comedian, speaker, and founder of Shebah, George McEncroe.
We have some amazing prizes up for grabs such as a 1-hour marketing consultation, The Relax Bundle from The Base Collective, yoga classes, and MORE! Each ticket also comes with a $100 voucher for Naked Wines. Who wouldn’t want that?!
Register HERE.
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]]>Read More "Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces"
The post Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces appeared first on Victory Offices.
]]>Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces
In this ever-changing environment, flexibility is key to sustaining business so it is no surprise that flexible workspaces are becoming increasingly popular with the global flexible workspace market expected to expand at a CAGR of +12% over the forecast period 2020-2026. Its projected growth and the increasing market is incredible, so how come many entrepreneurs and businesses have held back from using flexible office space?
Here, we tackle and dispel the top 5 most common misconceptions about flexible workspaces and reveal why flexible workspaces are something you should keep in your back corner for business success.
Misconception 1: Looks Unprofessional And Unestablished
There is a level of trepidation attached to the idea that without your business name on your office building, clients may presume your business is unprofessional or unestablished. This is not the case at all. What matters to clients is not the brand logo slapped on the front of a building, yet it is the service and value that is delivered. Instagram, Uber, and Spotify all started at coworking spaces and their value was never diminished because they operated in a flexible workspace. It worked to their advantage as potential clients saw them as forward-thinking, risk-mitigative, and a business that seeks creative solutions and a collaborative community. Flexible workspaces offer a wealth of high-quality facilities, resources, and superior customer service, never failing to leave a long-lasting impression on members and their clients.
Misconception 2: Coworking And Flexible Workspaces Are Only For Startups, Freelancers, And Solopreneurs
Whilst originally, coworking and flexible workspaces appealed to small startup teams and ‘solopreneurs’, large companies and multi-national enterprises are now seeing the value that flexible workspaces can offer and how it can fit into their flexible work arrangements. Organisations have learned that employees are happier and more productive with increased flexibility at work and there is less of a need for a large real estate footprint in today’s market. Flexible workspaces offer various options suitable for the needs of any business. For example, if you are an Australian business and find that you have a growing customer base in Asia, you may want to expand to meet the demands of those new customers but the costs and risks involved in setting up an office are too great; this is where a flexible workspace can assist you. Quickly open a fully-furnished office using a flexible workspace provider and start working, all while enjoying 20% to 40% lower costs than a traditional office space; all the business-grade amenities, utilities, and services are already established for you. Flexible workspaces are accessible, affordable, risk-mitigative, and reap all the benefits of a traditional office space without the long leases and comprehensive expenses.
Misconception 3: Coworking Is Noisy And Distracting
Coworking spaces are a hub of innovative individuals or teams wanting to work, connect, and be productive. As most people there welcome the sound of spontaneous conversations and ideas bouncing off at team discussions, there is a mutual understanding of respect within the community that people are there to work so noise levels are kept low. 74% of professionals felt a boost in their productivity when working in a coworking space as it creates an environment of progress and activity. When complete silence or privacy is needed, flexible workspaces offer private office suites, phone booths, and meetings rooms, giving you the options to have the best of both worlds.
Misconception 4: Flexible Workspaces Are Expensive
This misconception derives from those comparing the cost of working from home to the cost of rented workspace. Working from home is indeed cheaper than working at a flexible workspace, however it can also cost you in more ways than one. Many remote workers report feeling isolated, struggle with juggling the work-life balance, and sometimes feel their productivity and creativity can suffer. Compared to traditional office leases, flexible workspaces are cheaper and will not only save you money, but time as well. You can tailor packages to meet your exact business needs and requirements, paying only for what you need and therefore minimising unnecessary expenses. With simple monthly fees covering all outgoings, office equipment, telecom services, administrative services, cleaning, etc. expenses, setting up your dream office can be done within budget. It is more than just an office you are getting, it offers a community, events, networking opportunities, and more benefits that you wouldn’t get through a traditional office lease.
Misconception 5: You Cannot Customise The Workspace
Not true, it all depends on the specific serviced office provider! If you would like to personalise your space and provide a unique experience for your clients in line with your brand, then you will have to do some research and shop around to find a provider that does so. Serviced office and flexible workspace provider, Victory Offices, offers a fully customisable fit-out option for your private office suite. The process is seamless and personalised, from having a meeting with a design consultant to establishing the brief, to the formal quotation and finally the setup and handover, the process is that simple. If you’re after that personal touch, find a serviced office provider that is open to office customisations.
Sometimes, changing up the way you work can feel daunting because of the unknown yet it can also turn into a decision that you won’t look back on and regret. We work for such a long period of our lives and it is beneficial for you and your business to find the right workspace. Flexible workspaces offer many different solutions and it is the flexibility and collaboration of these spaces that will see your business through.
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]]>Read More "Trading Halts and Capital Raising: The Purpose vs The Perception"
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]]>Trading Halts and Capital Raising:
The Purpose vs the perception
Whether you invest in the Australian Stock Market (ASX) or not, a trading halt has the potential to sound ominous and worrying, however it’s not so uncommon in volatile economic climates and is more considered as a viable channel for organisations to take to protect their businesses and its shareholders. We are seeing many companies voluntarily suspend trading in a bid to accelerate recovery and secure their future.
Victory Offices had a one and a half month trading suspension in April and following that time off, announced the success of securing $15 million in Capital Raising. The funds raised will be used to strengthen the company’s balance sheet to manage the ongoing impact of COVID-19 and to fund working capital requirements of the business over the next 12 months.
CEO Dan Baxter stated, “the equity raising announced today, alongside operation and cost saving initiatives, will position Victory Offices to overcome adversities associated with COVID-19 and current market conditions.” It is a step in Victory Offices’ COVID-19 recovery plan and said to put Victory in a stronger position than their competitors.
It is not only Victory Offices that has had to halt trading and undertake strategies such as raising capital to place them in a better position as business conditions improve. Local and global companies are doing the exact same. For example, retail and services business – Kogan (ASX:KGN), vitamins group – Blackmores (ASX:BKL), and health food company – Freedom Foods (ASX:FNP), have also implemented a trading halt. Just last Thursday, Australian airline – Qantas (ASX:QAN), announced a trading halt and a capital raising of $1.9 billion to accelerate its recovery and position itself for new opportunities.
Although some may view a trading halt and efforts to raise capital as a sign of insecurity, it more so reveals the corporate support a company has gained. When a company has secured capital, it shows that investors see potential in the company’s future growth trajectory and the ability to sustain rapid revenue growth.
Victory Offices have now re-opened on the ASX market and their recent equity raising has positioned them to weather the situation that COVID-19 has caused the commercial real estate industry. According to Baxter, Victory forecasts an occupancy rate of 20% up to September, rising to 50% of “pre COVID-19 levels” by December and 80% by June 2021. Exceedingly promising statistics within 12 months for all invested both personally and financially with Victory Offices.
During this unprecedented period, it is crucial that companies deem it necessary to strengthen their balance sheets and liquidity position as the road to recovery will be long. These are a sign of the times and as more companies have their business operations severely disrupted due to ongoing COVID-19 government regulations, it won’t be surprising to see more trading halt and capital raising announcements on the ASX. Let’s just hope they all result in a positive outcome such as this one.
As business longevity and profit margins continue to be the talk of the town, flexible workspace providers are seeing a surge in demand, with small to large organisations utilising flexible workspaces to mitigate risk wherever possible.
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]]>Read More "Why Businesses Are Looking Toward Flexible Workspaces to Mitigate Risk"
The post Why Businesses Are Looking Toward Flexible Workspaces to Mitigate Risk appeared first on Victory Offices.
]]>Why businesses are looking towards flexible workspaces to mitigate risk
Flexible workspaces, such as coworking and serviced offices, are often recognised as the perfect solution for startups and small businesses looking to take that next step in their business. But following the impact of COVID-19, it’s not only startups that are considering shared workspaces. Established businesses are putting flexible workspace solutions at the top of their risk mitigation strategies. So will you follow suit?
We’ve seen a growing demand for flexible workspaces with a 30 per cent rise in the number of customers worldwide over the past couple of months. Private serviced offices, coworking spaces and shared spaces, virtual offices, as well as hot desks, have become an appealing and viable option for a larger section of the economy.
“The pandemic has shown a lot of businesses that they don’t need to lock themselves into a commercial lease”, says Misha Baxter, Global General Manager at Victory Offices.
In a 2019 survey of 19,000 business professionals across 96 countries, 73% of respondents said flexible working helped them to mitigate risk. This number is expected to grow significantly as businesses around the world further recognise the importance of the ability to pivot business operations as crises occur.
With so many industry-leaders focusing their efforts on business continuity, fortification, and revenue generation, many are asking themselves, how can my workspace adapt to the new ‘normal’ and how can it help manage new risks?
Following suit of these durable organisations can prove significantly beneficial for your business by considering the multiple avenues available to help ensure success, especially during these unpredictable times.
If you’re transitioning back to ‘normal’ business, or even just thinking about getting back to work, here are 5 reasons to keep in mind on why flexible workspaces are being considered across the globe as the best solution to mitigate business risks:
1. Reduce Financial Risk
Coworking spaces and serviced offices allow you more room-to-breathe financially as you can tailor packages to meet your exact needs and requirements, paying only for what you need and therefore minimising unnecessary expenses. With monthly invoicing covering all office, reception, furniture, cleaning, telecom, etc. expenses, the forecasting of your month-to-month cashflow and capex are significantly easier to not only manage, but optimise. This is incredibly advantageous as the hardest cost to minimise for SME’s are inherently the overhead costs required in traditional long-term leases.
2. Minimise Security Risks
It’s critical that businesses secure both their company data and that of their clients. A 2019 Australian Government report revealed one cybercrime is reported every ten minutes. As more professionals work from home, the risk of cyber security breaches is set to increase. Victory Offices’ flexible workspaces have an entire network of security measures put in place to prevent cyber attacks on your intellectual property.
3. Scalability
Coworking and serviced offices provide the freedom and flexibility to scale up and down at short notice. As businesses expand or reduce their workforce, flexible workspaces allow them to adjust accordingly with ease. Companies can have a full desk and IT setup essentially straight away, enabling them to get down to business immediately, as it’s simply ‘plug-in and play’. Whereas standard commercial leases are cumbersome, unadorned, lengthy, and can demand huge notice periods, making scaling to meet your business’ needs difficult, be it temporarily or permanently.
4. Focus on Core Business Operations
Business owners who utilise the advantageous services of flexible workspaces can ensure the seamless running of their business knowing that their administrative tasks are taken care of. Forget IT setup, daily cleaning, and reception duties, it’s all taken care of when you’re with a serviced office provider, so you have more time to focus on what really matters, your business.
5. Employee Acquisition and Retention
In this extremely connected and competitive occupational world, employee expectations and needs are everchanging. 84% of Australian workers would choose a job which offered flexible working over a job that didn’t. This includes working from home, working from a nearby location, working on the move, or just some breathing space to balance work-life commitments. If businesses want to succeed, they need to meet the ever-adjusting needs and expectations of employees and adopt flexible workspace strategies to help ensure they don’t risk losing out on top talent.
Generation Z will soon entail the majority of the workforce so it’s important to adapt your workplace and its benefits to this ‘digital generation’. By 2030, it is estimated that 30% of corporate real estate will be flexible. Get ahead of the game and consider a flexible workspace to obtain that winning edge over your competitors whilst also alleviating office expenses and operational restrictions.
It is crucial now and beyond, to seamlessly adapt processes and operations in order to negate business risks where possible. Thankfully, Victory Offices has remained open during the recent turbulent times, enabling members to continue working in a creative, risk-minimising, and safe space.
Victory Offices is currently offering a 2 weeks free trial so you can come in to any of our locations across Australia and experience the Victory difference for yourself and see how our exceptional facilities and amenities, award-winning services, and prime locations can help enhance your business.
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]]>Read More "Loyalty in Business Goes a Long Way"
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]]>Loyalty in business goes a long way
The very nature of business is highly competitive. Everyone wants to be the best in their industry. At the very least, in this post-COVID-19 world, you want to stay afloat. As desperation runs high, companies expose their true colours and the extreme efforts they go to in order to capture sales. Loyalty is a key quality that businesses need to both offer and attain from their customers naturally but it’s crucial to sustain business in critical times.
We are living in “Coronavirus times” where businesses of all sizes and from all industries are reeling from the effects of the global pandemic. Employers and employees have been stretched thin and it’s understandable to feel overwhelmed or vulnerable during this time.
We’ve seen restaurants and cafes shut but stay open for takeaway orders and home deliveries only. These businesses must rely on their digital marketing skills and the loyalty of their customers to keep business open. The same applies to the corporate world.
The loyalty a business cultivates with their customers is imperative to business growth and success, especially during these uncertain times. Everyone is struggling and when you think about your personal consumer choices, will you go with the brand that’s always been there for you, the one that you can trust, or the one that you’re unfamiliar with but are offering a great deal right now? Which is why loyalty in business is beneficial for many reasons but one of the most important reasons is that it makes customers come back, spend more money, and refer your business to their friends. This is extremely crucial right now as most people are financially struggling due to COVID-19.
In these dire circumstances, the battle to survive can get ugly, especially in highly proliferated markets. Coronavirus, or crises, is not an excuse for businesses to resort to underhanded tactics such as poaching competitors’ clients or cajoling. It is unprofessional, impertinent and damages a company’s reputation in the long run.
Best-practice businesses make sacrifices during hard times in the best interests of their community to ensure the high-quality standard does not change as challenges arise. Victory Offices employees have volunteered to reduce their work hours to put Victory members first. By doing so, Victory Offices can remain open, support their members, and provide the same award-winning 6-star customer service, even during a crisis. This shows genuine loyalty between staff and the company and to their clients as well. The alternative option that other companies have displayed is not only reducing employee hours but standing down hundreds of staff as well.
As customers and business owners, do you want to jump ship to a company that uses unscrupulous practises or do you want to stay committed to those who you know, who you can trust and who have been there for you in hard times?
Now more than ever, your efforts to attain business continuity should be focused on loyalty coming from both the company and the customer. Not only when you are the customer, but you must consider the same perspective with your company and your customers. The value you can provide to your community will make all the difference and reward you in the long run.
For businesses that have possibly adopted a defeatist outlook or lost confidence in their abilities, let’s take a breath and regain perspective. Start to create or nurture those loyal relationships. Don’t be too concerned with perfection, just make sure you focus on that forward-motion of action and respect.
Come and try our 6-star experience for yourself for free
Victory Offices is offering a FREE 2 week trial at any office location across Melbourne, Sydney, Canberra, Perth and Brisbane.
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