Nicola: [00:00:00] Hello and welcome to Women at the Top of Telecoms and Tech. I am your host. I’m Nicola Sko Now, Lisa Buckley. Still getting used to that. And I am your host. So I work with organizations in telecoms and tech, helping them to. Recruit and then retain and develop women at the top of their organization’s and future talent to close the gender pay gap, but also to drive a more and create a more inclusive culture.

Nicola: So welcome to the show today, and today I’m gonna be talking about just a subject that has come up for me over the last few months and just seems to be just, I think, increasingly important in the organiz. So I wanted to talk about this today because it’s something that I’m seeing as I work with organizations running leadership programs for them and [00:01:00] workshops.

Nicola: I get to speak every day. And the women that I coach, the brilliant women that I coach at the very top of organizations, I just get a real sense of what’s going on in the world and a real lived experience. And just over the last few months, it feels like there’s been a real shift. Just if you think about the, the history of the last few years and what, what’s happened in the corporate world and what’s happened in telecoms and tech and what the wider corporate world has been through, and I think it was March, 2020 and the world changed when Global Pandemic hit.

Nicola: And I remember we were, my husband and I still getting used to that as well. My husband and I were away in Poland cuz he’s, he’s Polish, so we’d been away in Warsaw. We were just flying. We, um, landed and then we had a text from our then lodge to say that he had flu-like symptoms and he’d actually been away.

Nicola: He’d been away traveling and he’d been with a group of doctors. So we are pretty sure, we are pretty sure that [00:02:00] he had virus, um, he had covid and we ended up living on the top floor of our townhouse. So we got, we had a mini fridge. We got a microwave and that’s how we lived so that he could have a whole floor.

Nicola: So that my partner, my husband was working at the hospital at the time, so it was really important that we just made sure that he was, um, he was safe and didn’t have to worry. So that was the start of the global pandemic. And that for me, at that point, my business was very much more about coaching one-to-one and running group programs.

Nicola: So, You know, that could continue. But I also had a side of my business that worked with corporates and that side of my business, I think I had potentially 50,000 pound in contracts. And those just went out the window immediately, and I’ve seen that again recently. So if bearing my soul a little bit, I’ve had 90,000 pounds worth of contracts that were in my pipeline just postponed indefinitely, just over the last few weeks.

Nicola: So I [00:03:00] think we’re, we are in really challenging times in the wider corporate world, and especially in telecom, telco, telecoms, and tech. And there is that cost of living crisis. Obviously with fuel increases and just that your money’s not going as far because your, your day to day expenses are increasing and increasing.

Nicola: And then we, obviously, we have the con background context of the war in the Ukraine and we’re effective in a third world war. Not that it’s talked about like that, but it is happening. It’s, it’s there every day. And finally we are in recession. So the shrinking of the economy. So how does that then impact on teams?

Nicola: This is what I wanted to talk about today and just really how to lead in these, in what are challenging times and how to still be that really how to still lead with that impact and that influence, but supporting your team and looking after yourself as well. Because we are in these challenges times and I don’t want to come on my show and be a do Munga.

Nicola: Or I don’t want to [00:04:00] just talk about really negative things, but it is a context of where we are. And like I said, I speak to these women, these brilliant women every day that are holding together organizations that are the glue, that are leading the divisions, leading the team, that are delivering on a strategy that are supplying and, and that are, they’re managing the resources that are gonna deliver on a big meal deal that’s been.

Nicola: Or on a new project that is, um, a new launch of a new product, for example. So the context for them is that they’ve seen this head count freezes. So an example of, um, attending on a leadership program and her. Um, her team had gone from a team of eight that she was leading down to a team of two. Yet their work, their workload hasn’t changed, so they just spend the day, there’s days saying no and making trade offs, and that’s really impacted on her motivation.

Nicola: It’s really impacted on her energy. That’s really impacted on her just feeling like she wants to come to work yet. She’s such a key part of that delivery. She [00:05:00] just keeps going and she’s still given a lot of herself. But if your team is a quarter of what it was, there’s just no physical way. You can have that same level of.

Nicola: So that’s what I’ve seen and the impact also of budget restraints. So like I said, I’ve had corporate contracts to the value of 90,000. Just actually posted about this on LinkedIn. I’m certainly not the only one. But the budget restraints and the impact on teams around that won’t get a new piece of software that they need, or they won’t have any training and learning and development for a period of time.

Nicola: Yet the workload remains the same. That pushes people into making those trade offs saying no. Um, and that can lead into just feeling really disengaged. That is obviously part of what’s driven this real increase in quiet, quitting, which I talked about on a, on a previous show, and just that sense of, of given so much for so long.

Nicola: And I, I can’t, I can’t deliver everything that’s needed. I physically can’t do it even if I worked all the hours in the day. So therefore, [00:06:00] what is the point? As a leader, you are, you are looking up and you are seeing the perspective of the board and the strategy and what needs to be done to help the business not just survive, but thrive.

Nicola: But you also, you have a responsibility to your team. You have a responsibility to the people that you lead. And as part of that, as really for me, there’s two things. To focus on, I think to help you just lead through these really challenging times. And I think it splits into two. And the first being looking at more practical support and how you can support your teams and employees.

Nicola: And then second one, around empathy and understanding, having that compassion, having that connection, having that care for your employees. Just first of all, talk about the practical, so what are the things that can be done to support people at the. So if you take the cost of living crisis, for example, there was a, a survey from, uh, pwc, Pricewaterhouse Coopers, [00:07:00] and just some really interesting stats that came out of that.

Nicola: So what are, what are large employers doing to respond to cost of living crisis? So 83% of reward specialists at large companies are taking action or considering ways to help employees. So there’s definitely a realization there’s some support needed car for those are then implementing or considering additional pay rise.

Nicola: 40% are providing one-off bonuses to support employees through the winter. For example, with cost of fuel, 15% are making non-financial interventions, such as help with travel, home installation, shopping, and more than eight in 10 employees from large UK businesses. Taking action to help staff in the cost of living crisis, which is really, really heartening to see.

Nicola: The direct financial support is, is obviously a really obvious way that employees can help their workers. Some organizations are also implementing non-monetary interventions, such as staff shop shopping discounts, financial wellbeing programs, employee hardship funds, for example. [00:08:00] So there is that real practical support, um, which I think is incredibly, incredibly important.

Nicola: So there’s lots of different ways that an organization can support in a really practical way. We mentioned some of the financial ways, but there could also be other ways as well. Just all within policy, all within process. So it’s very, very simple. It’s not for employees just have to push really, really hard to have the support that they need.

Nicola: So for example, staff could be allowed to sell back and use holiday entitlement. Loans for public transport. I know when I went into London, I had, um, a job loan because I was commuting from Redding into London. And that was paid back at 0% through my salary or salary sacrifice schemes to assist with things like childcare vouchers or cycle to work programs.

Nicola: And it’s not just about cold hard cash. Um, it’s also about compassion and understanding, which will really go a long way. And that’s the second part of what I wanted to talk about today, is around having that empathy and understanding as a leader. So if you set in place some [00:09:00] practical support, some real time support, some cold hard cash, but also some of those extra, extra ways of supporting, as we talked about, it’s also about having empathy, having understanding.

Nicola: Knowing people in your team. So understanding that different employees have different needs and that will impact on what they want from you as your, as their leader. So is a certain employee might be more concerned with the cost of travel and the cost of utilities. So they may choose to work more at home, whereas another employer might be more worried about just being able to support their family.

Nicola: So what, what can you do support there? Is that around childcare vouchers, for example? And just having that flexibility and taking the time to understand your employees, to know the people on your team, to know what they really need and what is gonna make a difference for them. And a lot of that is around that.

Nicola: Communication. It’s around connection. It’s around actually caring about your [00:10:00] team beyond just them delivering what you need them to deliver. Um, and just being very, very clear on what you, what the organization can offer from a practical perspective, but also listening, making sure that your team feel heard, they feel recognized, they feel supported.

Nicola: And maybe it’s also beyond that, the cold, hard cash. And does someone need some support with their mental health, for example, if so, is there a process? Is there a mental health first aid team? For example, is there someone that they can speak to independently or do they need, they want to look at their career strategy and is someone really important to you?

Nicola: You don’t wanna lose ’em. So would you employ in a coach like me to work with them direct? So, It’s really, it’s down to you as a leader to really understand and drive the very practical frameworks of support, like we’ve talked about, around money, around finances, around the, the other things that you can do as well, but also to have that empathy, have that understanding.

Nicola: And if you are [00:11:00] new to this, I would really recommend that you watch, um, Brene Brown’s Power of Vulnerability, TEDx Talk, which is just a way of just. Capture us in 15 minutes. Just what’s at the heart of empathy and what’s, why it’s so powerful to be able to put yourself into other people’s shoes and really understand their feelings, understand their emotions, and just to really, really put yourself, move away from how you are feeling, what’s going on for you, and put yourself into this shoes of other people.

Nicola: So I would really, really recommend that you understand that. Like I said, there could be things. Can you set up a regular session for your team just to share how they’re feeling? So in my leadership programs, we’ve set up something called the sharing spot, which is around just having 15 minutes just to share.

Nicola: What’s on your mind? How you’re feeling? How is your energy? What are you, what are you finding really difficult at the moment, just to get a sense. I can then, as a coach, get a sense of the energy then to lead into how do I adapt the session so that they come out of that session, having what they need from that session [00:12:00] rather than just them, the agenda that we were originally going to go through.

Nicola: And it’s around being open to your team, so, Do your team have access to you in a way that that’s not in front of everyone? There’s a personal connection. Do they have a way of being able to speak to you one to one, just to share what’s going on for them if they don’t want to, if they’re embarrassed about their situation, if they’re struggling with finances, for example.

Nicola: Um, so it’s really, really important that they have, that they know and understand that they can call you that, that you have access to. Really just ask them, how can I support you? And treat every team member with that kindness and understanding. And don’t just listen once. Keep listening. Keep having those sessions where the team is sharing.

Nicola: Keep helping. So keep going back to the. The wider business and driving for those really practical bits of support. Keep sharing the lived experience of your team and what’s going on for them. Do your team need to reset deliverables? Do you need to kind of look at the workload and actually does that need cutting back if there’s a head count?

Nicola: Freeze for [00:13:00] the, for the leader that I mentioned who’s gone from a team of eight to a team of two. For her, it’s just going back to her senior, we talked about it, for her to go back to her senior leader. And say, actually it’s just not possible. And actually they’re compromising what they do deliver because they’re under pressure to deliver so much more than they actually they can.

Nicola: But just because of time and resource to keep listening, keep helping, and just really again, role model. Role model yourself as well. Someone that can be have that em has that empathy and that understanding and that you are using some of those practical frameworks and support that are available. So, yeah, I thought this is a really important one.

Nicola: So it might be quite a different one to my normal episode just because it’s a very, an in the moment issue that’s come up. But I actually think it’s incredibly important just to really come back to how you can help and support your team, especially at the moment with there’s a real, there’s two issues going on here if we get, if we get to the heart of it, [00:14:00] and two major employment issues.

Nicola: So we have the rise cost of living. And that has also come at a time when there’s a real skill shortage, especially within telecoms and tech and almost one in five workers saying they’re gonna quit their job in the next 12 months. And I’ve seen that in the white paper that I’ve put together as well, that I’m just finishing off at the moment.

Nicola: That is about barriers. Best practice to have more women at the top of telecoms and tech. So really because of this, it’s no surprise that talent retention is a top priority for employers, and employers really need to consider how to target. And spend and create frameworks that have the most impact on workers.

Nicola: So people that are already in the organization, how are you gonna recreate that loyalty? How are you gonna support them? How are you gonna look after them? And what are the ways of really approaching reward and work conditions so that. They feel supported, they feel supported something bigger. They have that sense of purpose, understand that sense of purpose in the organization, and creating plans and programs to hold onto that talent for a long haul.

Nicola: So [00:15:00] for example, with contracts, for me being canceled, that has a direct impact on me , but that also has an impact on. And the women that were on the program. So you give support, you give them this framework, you give them a coach and an independent voice and time to really reflect on what they want from their career, and then you suddenly take that away again.

Nicola: So that support that was once there is now. They’re facing so much more pressure. The workload is the same, the resource isn’t less yet. You’re taking away a place where they can still develop and grow and they can get some support for the difficulties that they’re facing right now. And there’s nowhere for them to share how they’re feeling.

Nicola: There’s nowhere for them to say, look, this is how I’m feeling. And not to feel like they’re the only one that they’re battling away in isolation and they’re feeling unrecognized and unappreciated. Organizations, therefore are investing in programs focused on wellbeing, um, looking at flexible working patterns, how to implement hybrid, working in a way that really truly works [00:16:00] for an individual, but also the organization looking at job shares and the potential there.

Nicola: Looking at for an individual how to support that person individually, looking at succession planning and career ladders and those more personalized benefits. So, Really need to put in place those tools to weather the turbulent times and challenging times. And part of that really needs to be focused and looking inwardly on attracting that key talent and maintaining that key talent.

Nicola: So some stats around that as well that I’ve found that are really, again, from that same. PWC survey. So employers report that the main challenge is to attract a new talent or a lack of external supply and the time it takes to recruit, especially when it’s under resource. Over half respondents are retraining ing at current employees to fill skills gaps.

Nicola: So if you have an employee that is capable, that wants to move into an area, how do you support them with that? To have that longevity, to know that they’re maybe in a different role, but [00:17:00] they’re still within the organiz. Around a quarter of sourcing international talent as well, so looking to international markets and looking to access a shared talent with institutions as well.

Nicola: And 30% are making greater use of contractors and over 79% of response are looking at ways to reduce workforce costs. And 90%, 97% are aim into improve productivity. There’s this real challenge at the moment. There’s this real conflict between that cost of living and crisis, and then also having this war on talent and having just the skills shortages.

Nicola: And we’ve seen that particularly in telecoms and tech within the engineering areas and within really key, key areas that are gonna deliver change. My key message today is really if you are in an area or in a company that is going through challenging times, which I think a lot of the world is at the moment, just to [00:18:00] really just to think of those things, think of those two different areas as a leader.

Nicola: So look at the practical support that you can give your employees within your team. So what are the frameworks that are there? What are the potential financial incentives, but also looking at potentially if there’s more flexible working opportunities. Um, if there’s a way of supporting them with their development, if there’s new opportunities, and then also really focusing on just developing and just being really empathetic, being really understanding, showing that connection, showing that care.

Nicola: Caring about the whole person rather than what they’re just delivering. And I know many of you, you do this anyway. I see this again and a again in women, and that’s something I’ll be covering in a separate episode is around the empathetic leader, which most a lot of women tend to be. And just having that.

Nicola: Those sessions where your team can just share, knowing that they can access you if there’s something personal, they wanna talk about their particular situation and keep listening and keep supporting and being there for them. [00:19:00] Um, challenging workloads, if it is just not gonna get done, it’s gonna compromise what you do deliver.

Nicola: So that’s everything I wanted to talk about today. Thank you for joining me. If you are a leader that’s struggling with all of this at the moment, do contact me to get some support, one to one with. Or I can come in and also support a team organizational level as well. All my details are in the show notes.

Nicola: And I will speak to you on the next podcast

Nicola: if you love what I have to say and you’d like to find out more about working with me. Easiest way to do that is to book a Get to Know You Call, so there’s a link to that in the show notes. I can help you through working with your organization to help close the gender pay gap through Women’s leadership Program.

Nicola: To help empower your women at the top to be more influential, impactful leaders and really own their leadership identity. Or I can create workshops around confidence, around emotional intelligence, creating a career strategy, [00:20:00] or developing your own leadership identity. Or I can work one to one or group coach your senior leaders to help them to overcome a very specific problem or just again, really own their own leadership identity.

Nicola: Or I can work with you one to one. I do work with a small number of private clients and you can work with me either on my shorter focus coaching program where we pick one specific thing and we just really focus in on it and help you to move past it or my deep dive. Find your five V i P program. Which really gets the root cause of what’s holding you back and also helps you to create a very, very clear idea of what you want for the future.

Nicola: And within that, your leadership identity. The results I get from clients are as varied as they are. Brilliant. I’m incredibly proud of them. So some examples, my client being promoted twice within the six months they worked for. Another client being invited to join the board, another client being offered a brand new role [00:21:00] that wasn’t available to anyone else with a big promotion and a big pay rise.

Nicola: Um, a client that was pushed out of an organization to then being offered three dream roles that they could choose from. And finally a client that decided that the corporate world wasn’t for her anymore and helping her to get really, really clear on what she wanted and sell a new company that she’s absolutely in love with.

Nicola: If you are not quite ready to work me yet, that’s absolutely okay. You can download My Overwhelmed On Fire Guide, which is. Five simple steps to help you clear your head and help you get back to feeling on fire and take that inspired action and really be that leader that you know you can be. Or you can subscribe to my newsletter, which comes out on a Friday, which has the best bits of the week.

Nicola: And also hints and tips, new stats that have come out and things that I’m reading or watching. So that’s a great way to keep in touch and a few quotes to my clients. I can talk about what I do all day. I absolutely love it. One client said, Thank you for transformation. Who I am now at home and at [00:22:00] work is who I am meant to be.

Nicola: I can feel it, and that difference is just incredible. Thank you for what you do. Nick, for another client who just stepped into a new exec director role. Per quote was, it felt like I was wearing a coat that didn’t fit. It was a coat that was new, that didn’t quite fit me, that I didn’t feel that I was good enough for now.

Nicola: I step proudly stand tall and proud for who I am wearing that coat of leadership. I am confident to speak up. I am the right hand woman of the ceo, and I have that coat that just looks great and I feel it fits, and I am just this incredibly empowered leader. So thank you so much. So if you are looking to get some help just to be that most impactful and influential leader or help women in your organization by closing that gender pay gap.

Nicola: Do Booker get to know you? Call me. All the details of this are in my show notes. I can’t wait to work with you. Um, and thank you for listening.