This is a hot topic, but we have to approach it without fear of getting burned. In Portugal, we are faced with worrying data about our growth trajectory. We know that we are unable to give opportunities to current and future generations.
Written by Sarah Vargas, National Company Leader, Claire Juster
Do we retain talent? Can we connect professionals to the purpose of organizations? We must invest so that professionals can fully satisfy their basic needs, are able to work with motivation and focus on the virtuous cycle to which their work contributes and from which they can derive benefits that allow them to live their lives of high quality.
Nowadays, there are many uncertainties: Can we attract the talent we need? Is Portugal at a competitive price? Are we living on Black Friday?
Regarding promotional actions, we know that they are excellent for getting rid of inventory, as an investment in communications and marketing, as a strategy to increase market share… but we know that constant promotion has a huge impact on the business. How does your customer view the value of the service you provide/product you sell? Under these permissions, when will it be possible to increase the value?
Consumers like to buy at a cheaper price, and in Portugal, with the low economic level, they can only buy at a discount. But is this the country we want? A consumer who is powerless to choose, obsessed with the price standard, and buys only cheap, and a seller focused on cutting costs to maintain EBITDA and market share?
As an executive recruiter, I attend and follow difficult and difficult brainstorming sessions, where we also talk about the need or inevitability of promotional actions, their consequences on the growth and position of the company, as well as on the cash flow available to promote the business. And increase salaries and thus the standard of living of employees and the country.
Did we make the best choices?
On the part of decision-makers, I doubt whether they fully realize the necessity of increasing salaries and engaging employees, and whether they realize the impact of bonuses since recruitment. Knowing this need, how do you determine the value proposition to employees, and thus the price of the product they sell/service they provide?
Ask professionals if they know what it means to “ask for a price cut” in order to “satisfy the customer” and “increase sales in the short term.” I’m almost certain that falling prices means they stop making money for the jobs they do. The question remains: Did they hire themselves to do what they do?
We can all agree that companies and individuals merge, because the latter are inevitably operators of the former. Will it be possible to cooperate to generate wealth?
Economically speaking, when one person wins, it does not cause someone else to lose! On the contrary, growth is a catalyst for good things. Let us strive to grow, aware of what the choices we make represent.
About this analogy with Black Friday: let’s take advantage of globalization in everything! Let’s stimulate consumption, but let’s learn from other markets what we can do to grow, innovate and benefit Portugal.
This reflection does not disappear. Since it does not lead us to a conclusion, it can and should lead us to action. Take note: Low-wage professional environments breed unmotivated professionals. Unmotivated professionals become toxic.
Financial issues have been deliberately left out.
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