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Unleashing the Greatness Within : Elevating the Organizational MIND!!!

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5 years ago

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Envision leading an organization where a fourth of the employees are totally turned off by their jobs, at least half of the employees do just enough to get by, and only the remaining 25 percent are enthusiastic. Do you think such an organization can survive, but more importantly, will such an organization thrive? Do you doubt that there are companies around that have such workforces?

Sadly, that’s the profile of the typical firm in the United States, and increasingly, this is the case inside organizations all across the Caribbean. If you somehow believe that your organization is different, that it could not possibly be one like this, then organizational development experts dare you to take a closer look inside and genuinely analyze the situation. Bearing out these statistics, a number of highly respected management and leadership research consulting organizations concur that there’s a major population of workers—“roughly half of all Americans in the workforce–who show up, do what’s expected of them, but don’t go that extra mile, don’t turn on the creative juices, don’t get inspired to create great products or services.” This trend is spreading like a wildfire, as island nations like Jamaica, Barbados, the Bahamas, St. Lucia, and St. Maarteen; countless others are also experiencing organizational dysfunction.

As each new year approaches, achieving and maintaining competitive edge is a dominant concern for leaders everywhere, and organizations will certainly need to elevate their minds. Business thought consultants seem to agree that in boardrooms, during leadership seminars, and in progressive human resource departments the words “employee engagement” are being uttered rather consistently. Employee engagement is becoming the distinguishing success factor separating organizations that are thriving from those just barely surviving.

Employee engagement is best defined as “the critical measure by which organizations are able to inspire and mobilize their people to accelerate reaching company objectives. Engaged employees are motivated to succeed, take pride in their company, are committed to the success of the enterprise and are extraordinary persuasive brand advocates.”

Gallup reports that “Companies that had higher levels of employee engagement outperformed the S&P by 24% over a three-year span.”

First introduced in 1923, the Standard and Poor (S&P) is widely used as a measure of the general level of stock prices, and is representative of industries that span the United States economy. The S&P supposedly represents the cream of the crop when it comes to organizations. To say that high levels of employee engagement have been shown to drive high performing organizations is quite a statement to say the least.

Critical for any organization seeking to benefit from its minds is determining what employees currently perceive, focus on key engagement drivers, identify obstacles to success, and eliminate speculation as to what will foster effective change. Ensuring that employees are committed to their organizations and are aligned with company strategy is the essential ingredient in ensuring execution of strategic programming that leads to sustainable high performance with exceptional returns on investment.

Most significant of the employee engagement findings is that for the most part, the majority of people want to go above and beyond, to be an integral part of the company’s success. Something–often a disconnect with an immediate supervisor or a feeling that the organization doesn’t care about them–is getting in the way, somehow diminishing motivation and a will to give the best of themselves.

Thus, there is a huge, untapped potential that many executives, managers and employees do not recognize and, therefore, have not addressed. And it’s sapping organizational potential.

In speaking about the organizational climate in the United States, Curt Coffman, an author and the Employee Engagement Global Practice Leader for the Gallup Organization’s Consulting Arm said, “We’re running as an economy at 30 percent efficiency because so many workers are not contributing as much as they could. Just think of the impact if [only] 30 percent of a bank’s branches opened every day.”

Scary thought to say the least, so what must leaders do to tap into the power of its “organizational mine.” Building high employee motivation and morale is both challenging and yet supremely simple. Building high employee motivation and morale requires that leaders pay attention every day to profoundly meaningful aspects of their impact on life at work. Model these leadership behaviors as possible strategies to enhance employee engagement:

1. Your Arrival at Work Sets the Employee Motivation Tone for the Day– Picture Mr. or Ms. Stressed-Out and Grumpy. He or she arrives at work with a frown on the face. The body language telegraphs “over-worked” and unhappy. He or she moves slowly and treats the first person who approaches abruptly. It takes only a few minutes for the entire workplace to get the word. Stay away from Mr. or Ms. Stressed-Out and Grumpy if you know what’s good for you this morning. Your arrival and the first moments you spend with staff each day have an immeasurable impact on positive employee motivation and morale. Start the day right. Smile. Walk tall and confidently. Walk around your workplace and greet people. Share the goals and expectations for the day. Let the staff know that today is going to be a great day. It starts with you. You can make their day!!

2. Use Simple, Powerful Words for Employee Motivation – Part of management and leadership success is liking and being appreciative of people. Send the right message by using simple, powerful, motivational words to demonstrate that you value staff. Say “please” and “thank you” and “you’re doing a good job;” these words mean more than you can imagine. How often do you take the time to use these simple, powerful words, and others like them, in your interaction with staff? You can make their day!!

3. For Employee Motivation, Make Sure People Know What You Expect– Setting clear expectations is often a supervisor’s first failure. Supervisors think they have clearly stated work objectives, numbers needed, report deadlines and requirements, but the employee received a different message. Or, the requirements change in the middle of the day, job, or project. While the new expectations are communicated – usually poorly – the reason for the change or the context for the change is rarely discussed. This causes staff members to think that the company leaders don’t know what they are doing. This is hardly a confidence, morale-building feeling. This is bad news for employee motivation and morale. Make sure you get feedback from the employee so you know he or she understands what you need. Share the goals and reasons for doing the task or project. If you must make a change midway through a task or a project, tell the staff why the change is needed; tell them everything you know. You can make their day!!

4. Provide Regular Feedback for Employee Motivation – The motivation and morale builder always identified first is getting feedback, being told how you are doing at work. Staff members want to know when they have done a project well and when you are disappointed in their results. They need this information as soon as possible following the event. They need to work with you to make sure they produce a positive outcome the next time. Set up a daily or weekly schedule and make sure feedback happens. You’ll be surprised how effective this tool can be in building employee motivation and morale. You can make their day!!

5. Make Time for People for Employee Motivation – Spend time daily with each person you supervise. Managers might aim for an hour a week with each of their direct reports. Many studies indicate that a key employee work motivation factor is spending positive interaction time with the supervisor. Schedule quarterly performance development meetings on a public calendar so people can see when they can expect some quality time and attention from you. You can make their year!!
With increasing globalization and technological advancement, organizations throughout the Caribbean must create culture and climates that maximize their greatest resource, and that is its human capital. Finding ways to tap into this wellspring of innovation, creativity and ideas for process improvement are an imperative if an organization is going to benefit from its transformational mine come 2009! The new buzz word is “employee engagement” and if your organization is not practicing it, thriving is definitely out of the question, and surviving is merely a possibility.

By. Dr. Anita Davis-Defoe Consultant Editor Businessuite Magazine

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Businessuite Women

Who is Marlene J. Street Forrest, Managing Director of the Jamaica Stock Exchange Group?

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1 month ago

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November 16, 2024

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Transforming the JSE into a Global Benchmark
Dr. Marlene J. Street Forrest, CD, JP, has been a transformative figure at the Jamaica Stock Exchange (JSE), serving as its Managing Director for nearly 20 years. She is credited with steering the Exchange into a modern era characterized by transparency, technological innovation, and diversified offerings. Under her leadership, the JSE has seen major milestones, including the demutualization of the organization and the establishment of the Junior Market and the US Dollar Denominated Market. These initiatives have significantly increased capital accessibility for businesses and bolstered the Exchange’s regional and global profile​

A Career Defined by Leadership and Vision
Dr. Street Forrest’s journey in financial services and leadership spans multiple sectors, both in Jamaica and internationally. She earned her Bachelor of Science in Management Studies from the University of the West Indies and an MBA from Barry University in Florida. Her academic grounding paved the way for a career marked by strategic vision and operational excellence. Recognized as a Certified Business Consultant, she has brought expertise in enterprise risk management, cybersecurity, and governance to her work at the JSE​

Celebrated Achievements and Global Recognition
Her contributions have garnered numerous accolades, including the Order of Distinction (Commander Rank) in 2016 and the Afroglobal Excellence Award for Global Impact the same year. She has also been recognized as a Business Leader of the Decade and honored with an honorary Doctorate in Public Policy by the University of the Commonwealth Caribbean in 2021. Her authored works, such as On Leadership: Discipline, Discretion, and Daring, offer insights into her philosophy and strategies for effective leadership​.

Facing Challenges in a Male-Dominated Industry
As a female leader in a male-dominated industry, Dr. Street Forrest overcame significant challenges through a combination of resilience, strategic networking, and an unwavering commitment to excellence. Her success reflects her ability to lead with integrity while navigating the complexities of the financial sector.

Looking Ahead: The Next Chapter for the JSE
With Dr. Street Forrest set to retire, her successor will need to embody characteristics of innovation, foresight, and adaptability to sustain and surpass her achievements. The incoming leader will face the challenge of continuing digital transformation, expanding market reach, and maintaining the JSE’s reputation as a global benchmark in financial services.

The legacy of Dr. Marlene J. Street Forrest will undoubtedly serve as a guiding beacon for the next era of leadership at the Jamaica Stock Exchange.

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Businessuite Women

Who Is Hon. Fayval Williams, Jamaica’s New Minister of Finance and Public Service?

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1 month ago

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November 16, 2024

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Trailblazing Leadership
Hon. Fayval Williams recently made history as Jamaica’s first female Minister of Finance and Public Service, appointed on November 1, 2024, following Dr. Nigel Clarke’s transition to his new role as Deputy Managing Director at the International Monetary Fund. This appointment marks a pivotal moment in Jamaica’s governmental landscape, reflecting a strong commitment to gender representation at the highest levels of public service leadership. Prime Minister Andrew Holness highlighted this move as part of a broader strategy to shift towards aggressive economic growth policies​

A Career Marked by Excellence
Before her groundbreaking role as Finance Minister, Williams served as Jamaica’s Minister of Education, Youth, and Information, where she tackled critical reforms in education policy and skills development. She has also held positions in the private sector, including as a Senior Vice President at Cable & Wireless Jamaica and as Chief Financial Officer at Air Jamaica. Her extensive financial expertise, underscored by a strong academic background—including an MBA from The Wharton School and a bachelor’s degree in Economics from Harvard University—has prepared her for the intricacies of managing public finances​

Vision for Jamaica’s Future
As Finance Minister, Williams is expected to focus on accelerating Jamaica’s economic growth while maintaining fiscal discipline, a hallmark of her predecessor’s tenure. She inherits a robust financial portfolio, but her challenge lies in building on Jamaica’s economic stability to drive transformative development initiatives. With a senior advisor in financial strategy, Alok Jain, supporting her, Williams is positioned to engage with private sector stakeholders to create impactful partnerships​

Looking Ahead
Williams’s leadership underscores her ability to break barriers, adapt to complex challenges, and inspire through innovation. As she embarks on this historic journey, her tenure promises to reshape Jamaica’s fiscal policies and growth trajectory, setting a new benchmark for inclusive leadership in the region.

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Business Leaders Express Confidence in New Minister of Finance and the Public Service

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2 months ago

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October 31, 2024

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Business leaders in Jamaica are expressing confidence in the ability of newly appointed Minister of Finance and the Public Service, Hon. Fayval Williams, to manage Jamaica’s macroeconomic affairs.

Stakeholders from the Private Sector Organisation of Jamaica (PSOJ), Jamaica Manufacturers and Exporters Association (JMEA), and the Micro, Small and Medium-Sized Enterprise (MSME) Alliance concur that Minister Williams has the requisite qualifications and experience to build on the sound economic management platform laid by her predecessor, Dr. the Hon. Nigel Clarke.

PSOJ President, Metry Seaga, pointed out that, “whilst she has big shoes to fill, Minister Williams has the credentials and the experience to do a fine job”.

“We encourage her to maintain the policies that have brought us to a solid fiscal place internationally. We also encourage her to look forward to developing growth in the economy,” he added.

Mr. Seaga maintained that growth must be paramount in the new Minister’s plan, pointing out that, “we have done the hard work as a country; it is time now for the people to reap those benefits”.

JCC Chief Executive Officer, Larry Watson, is also of the view that, “Minister Williams is well qualified for the post”, adding that “we have full confidence that she will do well.

“She follows on the heels of Jamaica’s most successful Minister of Finance and the Public Service, so she has big shoes to fill. Her success will, in part, be measured on the extent to which Jamaica can achieve substantial and sustained economic growth. We wish her all the best in her new role,” Mr. Watson stated.

Meanwhile, the MSME Alliance pointed out that a majority of its members, “view the appointment in a favourable light”.

The Alliance further stated that 83.3 per cent of its membership believes that there was no better option for appointment by Prime Minister, Dr. the Most Hon. Andrew Holness, than Mrs. Williams.

Meanwhile, the JMEA, in a release, also expressed confidence, “in Minister Williams’ leadership and commitment to advancing Jamaica’s economic landscape”.

The Association added that it, “looks forward to working together to foster a more competitive and resilient business environment”.

“The JMEA looks forward to continued engagement with the Ministry and the private sector, in pursuit of Jamaica’s macroeconomic stability. We believe strongly in the need to address red tape and bureaucracy that hinder private-sector growth and development,” the organisation further stated.

The entity indicated that it would continue to lobby for the promulgation of laws that will simplify the process for doing business in Jamaica.

“We urge the timely implementation of regulations under the Pioneer Industry Act and the Large-scale Industry Act, part of the OMNIBUS Incentive Act that has been pending since 2014, to create an environment that encourages investment and growth,” the JMEA release outlined.

Mrs. Williams was appointed Minister of Finance and the Public Service on Wednesday (October 30) by Prime Minister Holness, who made the announcement during a post-Cabinet press briefing at Jamaica House.

A Chartered Financial Analyst (CFA), Mrs. Williams holds a Master’s in Business Administration (MBA) with concentration in Finance from the Wharton Business School and a Bachelor of Arts (cum laude) in Economics from Harvard University in the United States.

Mrs. Williams, who is Member of Parliament for St. Andrew Eastern, is the first female to be appointed Portfolio Minister in the Finance Ministry.

By: Andrew Laidley JIS

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Who is Angelique Parisot-Potter, Massy Holdings’ Former General Counsel and Executive Vice-President of Business Integrity?

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5 months ago

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July 13, 2024

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Early Career and Rise in Massy Holdings
Angelique Parisot-Potter served as the Executive Vice-President of Business Integrity and Group General Counsel at Massy Holdings Ltd. Before joining Massy, she had an extensive career in law and corporate governance, holding significant roles that positioned her as a key player in the corporate legal landscape.

Whistleblower Revelations and Impact
Parisot-Potter’s tenure at Massy took a dramatic turn in December 2023 when she made allegations about questionable practices within the company’s executive training programs. At Massy’s 100th annual general meeting, she revealed that the leadership programs involved bizarre rituals, including communicating with the dead and self-healing with “white light energy,” which she claimed were a misuse of foreign exchange and resources. Her whistleblower revelations were detailed in a 13-page document submitted to the company, leading to significant media coverage and internal turmoil at Massy​​.

Resignation and Aftermath
Following her public disclosure, Parisot-Potter was placed on administrative leave. Massy Holdings initiated a disciplinary investigation, asserting that she had disclosed confidential matters. Despite the company’s denial of her claims, Parisot-Potter resigned from her position on December 27, 2023, just nine days after going public with her allegations. Her resignation came amidst a period of significant scrutiny and internal review within Massy Holdings​.

The Resignation of Gervase Warner
The fallout from Parisot-Potter’s revelations had far-reaching consequences, including the resignation of Massy’s President and CEO, Gervase Warner. Warner, who had been with Massy since 2009, announced his retirement on February 8, 2024. While his early departure was officially attributed to personal reasons, it closely followed the controversy sparked by Parisot-Potter’s claims. Warner’s leadership was notable for significant profitability and growth, with the company seeing a compound annual growth rate of 15% over the last five years of his tenure. He was succeeded by David Alfonso, a long-time executive within the company​​.

Conclusion
Angelique Parisot-Potter’s career at Massy Holdings was marked by her commitment to corporate integrity and governance. Her whistleblower actions underscore the complexities and challenges of corporate governance and the personal and professional risks involved in exposing potential misconduct. As Massy Holdings continues to navigate the aftermath of these events, Parisot-Potter’s role in bringing these issues to light remains a significant chapter in the company’s history.

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A Legacy of Leadership: Dr. Marlene Street Forrest and the Future of the Jamaica Stock Exchange

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6 months ago

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June 25, 2024

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“As the JSE looks to the future, it will be crucial to find a leader who can match, if not exceed, Dr. Street Forrest’s impressive legacy.”

Introduction
Dr. Marlene Street Forrest, who has led the Jamaica Stock Exchange (JSE) for nearly two decades, is set to retire, leaving behind a legacy of innovation and resilience. Her tenure has been marked by significant achievements and overcoming challenges in a male-dominated field, setting a high bar for her successor.

Accomplishments and Achievements
Dr. Street Forrest’s tenure at the JSE has been transformative. Under her leadership, the JSE has seen a notable increase in market activity, listings, and the introduction of new financial instruments.

She spearheaded the launch of corporate secretarial services to assist smaller companies in maintaining compliance and accurate reporting, which is crucial for their growth and sustainability​​.

In recognition of her outstanding leadership, Dr. Street Forrest received several prestigious awards, including the Order of Distinction in the Rank of Commander (CD) in 2016 and the Afroglobal Excellence Award for Global Impact from Canada the same year​.

Her efforts have not only enhanced the visibility and credibility of the JSE but have also contributed significantly to Jamaica’s economic resilience and development.

Overcoming Challenges
Leading the JSE in a male-dominated industry came with its challenges. Dr. Street Forrest often had to navigate skepticism and bias, proving her competence through relentless hard work and strategic vision.

The global financial crisis and the COVID-19 pandemic posed additional challenges, yet she successfully steered the JSE through these turbulent times by promoting market stability and investor confidence​.

Her focus on digital transformation and enhancing regulatory compliance helped the JSE remain a pivotal player in Jamaica’s economic strategy. She emphasized the importance of high-quality, timely financial information and investor education, which are critical for maintaining market integrity and attracting capital​​.

The Road Ahead: What Her Successor Needs
As the search for Dr. Street Forrest’s successor begins, the JSE requires a leader who can build on her legacy of innovation and resilience. Key characteristics for the next managing director include:

Visionary Leadership: The ability to foresee and adapt to market trends and technological advancements.
Strong Regulatory Knowledge: Ensuring compliance and fostering investor trust through transparent practices.
Commitment to Digital Transformation: Embracing new technologies to enhance market operations and accessibility.
Economic Insight: Understanding market dynamics and economic policies to drive growth and stability.
Collaboration Skills: Building strong relationships with stakeholders, including regulators, investors, and listed companies.

Benchmarking against global stock exchange leaders, the new head of the JSE should embody a blend of strategic foresight, regulatory acumen, and innovative thinking. Leaders like Adena Friedman of Nasdaq and David Schwimmer of the London Stock Exchange exemplify these traits, balancing market growth with robust governance.

Conclusion
Dr. Marlene Street Forrest’s leadership at the JSE has set a high standard, marked by significant achievements and resilience in the face of challenges. Her successor will need to bring a mix of visionary leadership, regulatory knowledge, and a commitment to digital transformation to continue driving the JSE’s growth and success. As the JSE looks to the future, it will be crucial to find a leader who can match, if not exceed, Dr. Street Forrest’s impressive legacy.

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