Issue link: https://maltatoday.uberflip.com/i/846769
maltatoday, SUNDAY, 9 JULY 2017 XII Business & Finance AS an employer or business owner with employees working in an office environment, cost efficiency is a chief concern; how little can I spend whilst still generating maximum performances from employees? This is a tough position to be in, and many employers have opted to spend as little as possible in fur- nishing their office spaces so as to save costs and keep maintenance low. But the performance of your employees is the key to a produc- tive office and a productive office is key to a successful business. Did you know that at any given moment, up to 70% of your workforce will be suffering from bad backs, stiff necks and joints, headaches, and issues relating to the effect of their workplace environment? These types of in- juries result in poor performance, unhappy staff, and ultimately, a big sick-leave bill for you. In the long run, it is in the inter- est of the employer to take into consideration the effects the office will have on those who will actu- ally be working in it. One of the most important as- pects in designing an office space is the 'physical environmental factors' that it is made up of. A survey conducted by the Journal of Business, Economics and Fi- nance saw that the most impor- tant comfort factor for employees was furniture and furnishings. DEX Workspaces have worked a solution on corporate wellness for all types of companies. Height- adjustable desks, for example, make it easier for users to assume a healthier posture when sitting down and adjust monitors to eye- level in order to reduce neck and back pain. Similarly, ergonomic swivel chairs improve flexibility and mobility at and around desks without causing physical strain. Finally, the presence of fitness facilities at the workspace gives office workers the opportunity to de-stress, maintain an active life- style, and be more productive. Physical comfort is not the only concern you should have. Con- sider the following: • Noise reduction: Un- necessary noise can be one of the most detrimental factors in preventing an employee from achieving their full performance. Implementing acoustic protec- tions is key to efficiency. • Spaciousness: Having open spaces in an office can create the feeling of inclusiveness and freedom in the office rather than a cramped space. • More views of the outside world and natural lighting: Natural light and views of the outside world have been shown to improve an office workers state of mind and performance in the office. If it can be done, consider larger windows and more glass throughout the office rather than bland dividing walls. Although it may seem daunting to implement such policies due to immediate cost, it would be prudent to implement ergonomic designs and see the benefits in the long run. Business is not just about your product, marketing strategy, and annual profit. To be truly successful you need to look after your number one asset – your people. By investing in their well-being in the workplace you are investing in their hard work, dedication, and loyalty to you as an employer. Talk to DEX Workspaces to learn more about the basic ergonomic principles backed by scientific research that every employer needs to know to turn their business into a productivity powerhouse. For more information you can browse their website at dex.com. mt . You can call +35622773000 or visit their showroom located in Mdina Road, Qormi. WHILE the consumer concept of value has changed in recent years, with shoppers looking for product attributes such as durability, 'cool', green credentials and of course, peer recommen- dations alongside price, lower income consumers present more challenges to brands. Cultivating loyalty among the so-called BoP [base of the pyramid] consumers that must consider price first, and may be too poor to be really brand aware, is complex. It is, however, a priority, as these consumers, often newly-minted urbanites, are and increasingly will make up a significant con- sumer market. The ability of brands to think about issues like cultural relevance and building consumer trust is key. Technology is already reaching out to lower income consumers. Right now, in mobile communica- tions, they are early adopters of pared-down smartphones with global brands in a race to sell them new models first. Appealing to consumers in a crowded marketplace Brands need to offer cheaper prices and/or smaller packaging and discounts on packaging and via loyalty cards to appeal to low income consumers. In today's crowded marketplace, however, they should also stress innovation to create engaged customers and generate long-term bonds. This is also because it is likely that loyalty will focus more on emotions than on rational incen- tive-based initiatives as rational decisions lead to loyalty loss. This is a lesson learned by brands seeking to re-establish consumer loyalty following recession in developed economies. Cheaper convenience is being marketed to consumers strug- gling financially. August 2012 saw Unilever announce that it would employ packaging and marketing lessons from its Asian division in European markets, in response to the increasing number of households operating on tight budgets. The company is selling Surf detergent in packets of just five sachets in Spain, for instance. The head of Unilever's Euro- pean division explained why: "If a consumer in Spain only spends €17 when they go shopping, then I'm not going to be able to sell them washing powder for half of their budget." Consumers rewarding pioneering brands with their repeat custom In the food market, Nestlé innovated through its floating supermarkets, which reached eighteen low-income communi- ties in Brazil's Amazonian region and saw strong sales for the brand's 300 products sold there. Meanwhile, companies such as Spain's Telefónica "ventured into Rio's favelas with their wire networks when street violence was more prevalent and now they have thousands of internet subscribers" reported financial paper Valor. African consumers are said to be very loyal to brands and reluctant to try different prod- ucts. Loyalty programmes which reward repeat customers are becoming an increasingly popular route for retailers aiming to chal- lenge this conservatism in the African market. Shoppers warm to culturally- sensitive brands building trust Cultural relevancy will be a key driving force of customer loyalty and engagement. While sales made via mobile phones are increasingly popular in Africa, many local economies are still cash based so provisions need to be made for cash payments. In a country like Nigeria, where online scams are common, many consumers are still wary of online transactions. Establishing trust in a brand is therefore important when it comes to promoting online transactions. In Kenya, online start ups have been hindered by the preference for face-to-face interaction. As Ja- cob Lennheden, MD of a Kenyan online food delivery service, Yum, says: "When it comes to online start-ups like Yum, the biggest difficulty has been in building up a level of trust between our custom- ers and us. Most sales take place between people, whereas with on- line business you quickly get the impression you are dealing with a robot or a computer – which increases the suspicion from the customers." Why a comfortable employee is a productive employee How do you cultivate brand loyalty among low-income consumers?