Guests: Bianca Welds, Manager, Digital Innovation: VM Group Duane Lue-Fung, Founder & Chairman: TGL Group Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business. Businesses have been forced to pivot over the past 2 years since the inception of the COVID-19 pandemic. What once seemed impossible for many business owners has become the new norm as corporate companies identify innovative ways to conduct business. We have seen the creativity of the technical industry coming forth and the giftings of the content-creating community coming alive but on the flip side of this joy are companies who have yet to adapt to the fast-paced changes of business operations. Many have had to close their doors due to the decrease in supply and demand of their products and services. While many have discovered life in this pandemic, others have suffered the loss of their livelihood with all hope gone with the wind. In today’s we take a look at the pandemic as a gift to businesses. Some of what we discussed include: Dealing with disruptions in business Implications on the business of family togetherness during the pandemic Advice to employers on how to pivot during the pandemic We also touched base with a member of our audience Renee Rose who posed this question to our guests “ Apart from remote working how can businesses meet its employees half-way so that employees are able to balance work and family life?” Connect with our guests: Connect with Duane at 978-1246 and at  Duane Lue-fung on all social.  Connect with Bianca @BiancaWells on Twitter or visit her website at biancawells.com Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table, or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Chris Grosser "Opportunities just don't happen, you create them." Take care.

Guests: Donovan Cunningham: HR Manager - National People’s Co-Operative Francisca Anderson, Group HR Manager at Polypet Co Ltd & Unibev and Founder of Strategic HR Concept Limited Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Fringe benefits are compensations given beyond an employee's normal wages. An employer might choose to offer Fringe benefits versus monetary compensation as it decreases the taxes that it would ordinarily attract. An article by the boongroup.com stated that by  offering fringe benefits and reducing cash expenses, Fringe benefits help businesses to remain competitive. But the question is, does it offer the employee the same value returns as it does the business owner? Wages paid to the employee are subject to income tax.  The employer is required to offer certain benefits to its employees such as health insurance, one of the most prominent forms of fringe benefits to exist (along with life insurance). But in spite of this, several business owners still choose to pay benefits in cash  as a preference and many find it as a simple solution to a complicated issue.  So cash or kind, how do you compensate your workforce? Some of what we discussed include: Use of cash benefits vs Fringe benefits Are fringe benefits used to compensate for wage insufficiency? Are fringe benefits geared towards saving the company revenue or the employee’s well-being? We also touched base with a member of our audience Andre Robb who posed this question to our guests “Types of fringe benefits that will make my business stand out?” Connect with our guests: Connect with Donovan at 962-5360 National People’s Cooperative Bank Of Jamaica. Connect with Andre Robb CEO of Will and Tomorrow at  Willandtomorrow.com @willandtomorrow on all socials. You may contact Francisca at [email protected] or call  876-379-6504. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Robert Kyosaki, “I explain the law of compensation like this: Returns are minimal in spite of massive effort at the start, yet returns can be massive with minimal effort over time."  Take care.

Guests: Dennis Chung: CEO Supreme Ventures Ltd. Ian Neita:  Group Executive Director of Yello Media Group Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Before 2020, only 6% of the American  labor force had the opportunity to work from home with statistics showing that approximately 29% of work done in the office could have been accomplished from home without any loss of productivity.   Amidst the many changes that work has seen, work from home orders is among the top two things businesses across the world have implemented for the safety of their human resources. With employees making less use of amenities and resources such as the physical workspace that companies rent or lease, utility bills, and monthly maintenance fees, the question of pay cuts can no longer be ignored. Companies, as we know, are in business to make a profit, and inflation dictates that businesses identify ways to reduce costs and overheads which could potentially include the salary of their employees. Today we discuss pay cuts amidst the work from home reality with guests Ian Neita, Group Executive Director: Yello Media Group along with Dennis Chung, CEO: Supreme Ventures Services Ltd. Some of what we discussed include: Implications of salary cuts to the business Methods of compensation to the employee amidst the work from home reality Legal implications of cutting an employee’s salary We also touched base with a member of our audience Shelly-Rae James who posed this question to our guests “What are some of the best ways for employees to negotiate a flexible pay structure?” Connect with our guests: Connect with Ian at Yello Media Group and the Jamaica Chamber of Commerce  on LinkedIn and all other platforms.  You may contact Dennis at Supreme Ventures Ltd. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Sherrod Brown "Anyone who has tried to pay a heating bill, fill a prescription or simply buy groceries knows all too well that the current minimum wage does not cut the mustard."  Take care.

Guests: Odeth Reynolds: Chief Human Resources Officer, Jamaica Energy Partners Jason Dear:  Managing Director, Link2Lenders Ltd. Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Health insurance is one of the many benefits companies offer to their employees as a part of their compensation packages. "Healthcare is free and is a right to all Jamaicans regardless of financial status" stated Prime Minister of Jamaica Andrew Holness. But do all Jamaicans really have access to proper healthcare in a timely manner? Contract employees have a lot to consider when applying for and accepting posts; health insurance coverage is definitely one of those considerations. Employers are bound by law to offer incentives to part-time employees. Some of which include sick leave, short-term disability, and health insurance premiums. But not every employee qualifies for the same. Many contract employees opt to be added as a beneficiary to their partner's health insurance plan as this route grants some amount of coverage. Through premiums paid by the partners of contract employees, it is usually much less than the cost the contractor would have to cover out of pocket. This evening on Your Business matters, we consider the question, "Should Businesses be Forced to Provide Healthcare Benefits to Part-Time Contracted Employees?" Some of what we discussed include: Should employers pay employees less if they are working virtually ? Mandating employers to provide health care. Marketing tips on the customer journey and sales tips for business owners. We also touched base with a member of our audience Rohan Gordon  who posed this question to our guests “Why don’t companies increase their focus on healthcare so that they can keep healthcare premiums down? Connect with our guests: Connect with Odeth [email protected] or [email protected] LinkedIn at or  visit the website at JAMPRO.com. You may contact Jason at  [email protected]  on most social platforms. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Dr Martin Luther King Jr, “Of all the forms of inequality, injustice in health is the most shocking and inhumane.” Take care.

Guests: Gabriel Heron: JAMPRO Vice President  of Marketing Dr. Nadia Brown: Global sale and sales expert at the Doyenne Agency Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Marketing is a tool used to create and maintain demand, relevance, reputation, and competition. From market research to the implementation of marketing strategies, it is clear that marketing is the driving force behind sales in business. Ironically, it is also an area that several businesses struggle in. Between the lack of resources, conceptualizing and creativity issues, absence of quality leads, and difficulty locating a marketing strategy that actually increases visibility and attracts customers, some businesses have a hard time executing marketing activities. However, there is a silver lining. There are several techniques that help to attract and sustain a target audience; one of which is psychological strategies. Studies have shown that people are thirty times more likely to try a brand if they believe that the brand will deliver emotional, functional, and social benefits.  Robert Rosenthal in an article for Fast Company noted “The vast majority of marketers are not psychologists. But many successful marketers regularly employ psychology in attracting consumers.”  When used legally and ethically, psychology according to Rosenthal can be used to attract and compel consumers to buy. So the question is, is psychological marketing the only true way to win?   Or is there a thin line between psychological marketing and manipulation? Find out in today's episode of Your Business Matters. My guests are Gabriel Heron, JAMPRO's VP Marketing, and Dr. Nadia Brown, Global Sales and Sales Training Expert at the Doyenne Agency. Some of what we discussed include: The marketing/sales funnel and customer journey. Prominent psychological tricks used to attract customers. Marketing tips on the customer journey and sales tips for business owners. We also touched base with a member of our audience Tishana Mullings  who posed this question to our guests “Do you have any tips on how to care for your customers as they walk through the customer journey process?” Connect with our guests: Connect with Gabriel on LinkedIn at Gabriel Heron our visit the website at JAMPRO.com. You may contacts  Dr. Nadia Brown at thedoyennemedia.com or Iamdrnadia on most social platforms. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Andrew Davis "Content builds trust, relationships are built on trust. Trust drives revenue" ” Take care.

Guests: Orlando Dawkins: Marketing Director, Blue Mountain Bicycle Tours Carlene Chin, Senior Manager - BDO Accounting Firm Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Choosing between full-time vs contractual employment can be a very tricky process especially for small to medium-sized businesses. A great team is the strongest foundation on which successful businesses are built. For this reason,  choosing the right workers to be a part of a said team can be twice as stressful and small businesses have the hardest time staffing their establishment with meager budgets. We know quality human resources don't come cheap;  oftentimes business owners are left in a frenzy when it comes to this decision. Hiring temporary employees that add great value to your company is one option but this will also yield a high employee turnover. Conversely hiring full-time employees with little funds is next to impossible. So what does it ultimately come down to? Find out this evening on Your Business Matters. Some of what we discussed include: Challenges with contractual and full-time employment. Benefits associated with contractual and full-time employment. Do employers pay attention to job satisfaction and fulfillment with contract employees? We also touched base with a member of our audience Jermaine McDonald  who posed this question to our guests “In a setting with both types of employees, how do you manage that culture?” Connect with our guests: Connect with BDO Accounting Firm at 876-926-166-7 LinkedIn at our visit the website at JAMPRO.com. You may contact Orlando at 876-974-7075 or visit BMTOURS.com   on most social platforms. Connect with Learn, Grow, Invest on all social media platforms. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table, or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from  Jim Rohn "I'm working full time on my job and part-time on my fortune''. Take care.

Guests: Nyanna Williams: Founder and CEO, Lifespan Water Bronhil Thompson: CEO - HRM Options Group of Companies Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Bonuses are additional payments made to the compensation package of employees. They are great at improving employee morale but can swiftly become an idol of entitlement if not calculated and distributed strategically. Different bonuses serve purposes as targeted by the company. For example, a retention bonus is geared towards fostering loyalty in an employee especially if they are a top performer while a signing bonus is usually offered to top talents during the recruiting process and is mostly found in the sporting ring where sharp athletes are concerned. But how are bonuses allocated and does it really matter? One might argue that there  is no issue where bonus payouts are concerned as long as the employees get paid and the employer is satisfied but on the flip side, are employers biting off more than they can chew with bonus incentives? If the company falls below the targeted profit margin, what then? And does it make sense to grant such an incentive to below-average employees? Find out on this episode of Your Business Matters. Some of what we discussed include: Are all employees hired to achieve the company’s bottom line? The measurement of employees. Does paying bonuses based on profit even when there are top performers in the company, breed disloyalty? Retroactive bonuses. Is it fair to pay bonuses to employees who perform below average? We also touched base with a member of our audience Jessica Jackson who posed this question to our guests “Should companies compensate those persons who go close enough to the target?” Connect with our guests: Connect with Life Span on their  website at LIFESPANSPRINGWATER.com. You may also contact HRM group at HRMOPTIONSGROUP.com. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Ashley Bartley "If I win, it’s a bonus. If I lose, the sun still comes up the next day, and it’s all good ” Take care.

Guests: Michelle Chong: CEO of Honey Bun and Founder of the Honey Bun Foundation. Rosetta Bryson: Founder and CEO of Simple Trader Pro and Bishop. Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Competition acts as the driving force for individuals or groups to perform. The same principle applies in business. When operating in a dominant industry businesses often leverage their competitive edge in order to stand out and build brand loyalty. Competition is in our nature. From competing in sports to rival companies competing for consumers’ wallet share to individuals bidding for the highest paying jobs, everybody desires to be the best and to earn the best.  Some experts argue that competition is a waste of energy and resources that could be combined for higher-yielding results against external forces. Collaboration on the other side of the spectrum intrinsically encourages work with each other rather than against each other. It enables the use of best practices to increase efficiency and eventually revenue but is it enough to push businesses forward? So how do we decide whether to compete or collab? Does middle ground exist for both to co-exist?  In today's episode of Your Business Matters, we explore the topic "Competition Vs. Collaboration: Which is better for the business." Some of what we discussed include: Why is collaboration necessary? Collaboration among competitors. Is there a place for healthy competition over collaboration? Competition in the workplace. We also touched base with a member of our audience Glenice Leechman who posed this question “In the work environment, what drives motivation? Collaboration, competition or both?’” Connect with our guests: Connect with Honey Bun at Honeybunja.com and the Honey Bun Foundation at thehoneybunfoundation.com. You may contact  Simple Trader Pro at Simpletraderpro.com. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table, or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Steve Jobs "Great things in business are never done by one person; they’re done by a team of people.” Take care.

Guests: Gina Thompson-Williams: Director, Business Transformation, Organisational Development and Change at JPS Uton Vassell: Group HR Business Partner at Digicel/ Employment Law & Industrial Relations Expert Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Many people, due to their eagerness to gain employment often overlook or fail to recognize invasive questions posed by their potential employer.   One could argue that information such as marital status and age are  general information but in the wrong hands these can end up being weapons of mass discrimination. On the other hand,  employers  have a right to know who they are adding to their team. So how thin is the line between an employee profile and a privacy breach? According to the Fundamental Rights and Freedom of Jamaica, individuals have the right to freedom from discrimination on the grounds of being male or female, race, place of origin and social class, color, religion, or political opinions. (Constitutional Amendment No. 4 2011). As we take a deep dive into the topic, ponder for a second, Invasion Of Privacy or Knowing Your Employee: Recruiters should Be Allowed to Ask Personal Questions? Some of what we discussed include: Is it knowing your employee or invasion of privacy when potential employers ask about religion etc? What kind of bearing does marital status have on employee performance? where is the line drawn in asking questions during job interviews? We also touched base with a member of our audience Kemel Walford  who posed this question to our guests “ Does it come down to competence or culture, which is more important?” Connect with our guests: Connect with Uton on LinkedIn at Uton Vassell or via email at [email protected]. You may also contact Gina at [email protected] and on LinkedIn at Gina Tomlinson-Williams. Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table, or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from Bob Nelson "An employee's motivation is a direct result of the sum of interactions with his/her manager." Take care.

Guests: Thalia Lyn: Founder and CEO Island Grill Josh Baron: Co-founder BanyanGlobal, Adjunct Professor at Columbia Business School, Harvard Business Review,  author, and thought leader. Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business Seasoned investors and entrepreneurs alike strongly warn against going into business with kin. Many have witnessed first-hand relationship fallouts and deals gone south but others have told the tale of leveraging family businesses for benefits such as cost-savings, etc. So how do I decide which is better for my business? In an article by media.com, the writer purports that the main street is filled with the corpses of family relationships that ended in lawsuits.  The driving force behind this reality is the inability of the family members to separate their business aspirations from their actual ability to run a profitable business. Research has shown that only 13% of successful family businesses last through three generations and less than 2/3 survive through the second generation. While it is suspected that the loss of growth beyond these generations is due to comfort and complacency, there are exemplary family businesses that are still thriving despite the alarming statistics. What is the glue that keeps the business and the family together? Does the glue even exist at all?  For a business to be profitable, the owner/s must be able to think logically and make headstrong decisions, forgoing emotions as their main driving force as a business strategy and with family comes just that, emotions. So is it blood before business? Some of what we discussed include: Is it a plus or minus to go into business with a family member? What are some nuances with working with family members? Why is it important to separate emotions when running a family business? Why could labor costs be higher with the hiring of family members? Tips on being successful in a family business. We also touched base with a member of our audience Charlene Humphrey  who posed this statement to our guests “ Are there any organizations that can help family businesses to weather the current storm?” Connect with our guests: Connect with Josh Baron on LinkedIn or visit [email protected] or www.banyan.global. You may also contact Thalia  at  Tlynn@[email protected] Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast. Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals. To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table, or visit eximbankja.com for further information and business resources. As you continue to mind your business, I leave with you this quote from   Henry Ford "Coming together is the beginning, keeping together is progress, working together is success.” Take care.