Candid Corporate Culture

Howdy,

I hope you have been great; myself I have been doing well. It is always a pleasure to catch up with you and discuss various issues and topics.

Honesty in communication is vital in any organisation. It helps strengthen trust and instil confidence as well as create room for constructive feedback. Corporate leaders must be able to identify the symptoms of the lack of candour and be determined to change the rules of such behaviour.

According to the World Economic Forum, candid and open conversations at work are a crucial part of psychological safety in the workplace; when employees are able to have candid conversations and know that they will be heard, and not punished or victimised, they are more engaged with and committed to their work.

Freedom to be candid doesn't mean it's okay to be disrespectful. One-sided conversations cause hurt feelings, sap morale and hinder resolution. When providing feedback, there are definitely positive ways in which honest feedback can be relayed without hurting the feelings of the other person. Here is a guide on how to have effective and candid conversations in the workplace.

Focus on the good of the company. The aim of feedback should be finding ways to solve problems or improve situations to build a better business together. At no point should the objective be to punish others or get the other person in trouble. The goal should be to improve the team dynamic, not foster division.

Stick to the facts. Favour verifiable statements over judgments. Stating “We received 10 customer complaints this week…” promotes thoughtful investigation as opposed to “Customers are complaining about you…” That encourages defensiveness.

Assume best intentions. No matter how much you may disagree with individual coworkers, it’s always a safe bet that everyone in the workplace wants to do a good job. Keeping this in mind can help prevent conversations from becoming too personal or accusatory. In the event that you happen to have the facts wrong or speak before knowing the whole story, you won’t look like a bad person when the truth comes to light. Always state your concern in a manner that recognises effort, such as “I think it’s great that you’re tackling the issue of X, but I worry that Y might happen if we approach it that way.”

Get to the point. Sugarcoating your feedback can raise anxiety and often muddles your message. Being polite but succinct shows others on your team that you value their time and know that they are professionals who can handle the truth when it’s presented properly. “I found a number in your report that seems off” may not be what someone wants to hear, but they’ll appreciate quickly knowing.

Be considerate. Candour does not mean disregarding other people’s feelings. Take a moment to gather your thoughts and composure before presenting negative feedback, and remember to keep language and tone civil. Likewise, avoid embarrassing someone in front of others. Leaders should be treated to this courtesy as well, meaning they shouldn’t be blind-sided during a meeting or subject to public belittling. If a topic needs to be discussed in a larger group, avoid singling any one individual out without first talking it over with them in private.

Don’t kill the messenger. Finally, realise that it requires courage for someone to come forward with unpleasant news. Take an individual’s comments seriously, but not personally, and remember that they are only trying to make the company better.

As I finish, I would like to remind you that the success of any enterprise is predicated on people working together effectively to produce great results. Candour gets everything out in the open and allows for productive, adult conversations. Great alignment and coordination demand the free flow of ideas, plans, and information.

Yours faithfully,

IMBA

Ways to achieve financial freedom

Financial freedom is a state of having enough wealth to live on without having to work for money. It's the ability to have control over your time and the ability to do what you want, when you want, without having to worry about money. For many people, financial freedom is a life-long goal that they strive to achieve. In this article, we will explore the concept of financial freedom and the steps you can take to attain it.

Generate income that doesn't require your active involvement.

To start, it's important to understand that financial freedom doesn't mean you'll never have to work again. Rather, it means that you'll have enough passive income to cover your living expenses, so you can choose to work if you want to, rather than because you have to. There are many ways to generate passive income, such as investing in real estate, stocks, or bonds, or starting a business that can run without you. The key is to find ways to generate income that doesn't require your active involvement.

Continuously educate yourself about personal finance.

Personal finance is a broad and ever-changing field, with new information and strategies constantly emerging. By educating yourself and staying up-to-date with the latest developments, you can make informed decisions about how to manage your money and achieve your financial goals. Reading books, articles, and blogs about personal finance, listening to podcasts, and attending seminars and workshops are all great ways to learn more about money management.

Invest your money wisely.

It's also important to invest your money wisely. This includes investing in a diverse range of assets, such as stocks, bonds, real estate, and businesses. You should also educate yourself about investing and take calculated risks. When done correctly, investing can provide a significant boost to your wealth over time.

Eliminate debt – Important.

Another key to achieving financial freedom is to eliminate debt. Debt can be a significant obstacle to achieving financial freedom, as it requires you to use your income to pay interest and principal, rather than saving and investing. By paying off your debt, you'll be able to put more money towards saving and investing.

Surround yourself with supportive people.

The people around you can have a big impact on your financial success. If you surround yourself with people who are fiscally responsible and have similar financial goals, you're more likely to stay on track and achieve your own financial freedom. On the other hand, if you surround yourself with people who are constantly spending or have different financial values, you may be tempted to stray from your own financial plan. Surround yourself with people who can help you maintain your focus on achieving financial freedom.

Finally, it's important to remember that financial freedom is a journey, not a destination. It takes time, effort, and dedication to achieve, and even once you reach it, you'll need to continue to manage your finances to maintain it. Check out I&M Wealth Management Services. But with the right mindset, a budget, and a plan for generating passive income, you can achieve financial freedom and live the life you've always dreamed of.

By Omido Joshua