5 must reads for your superstitious weekend

We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.

1. It’s not always bad things that come in threes?

There is an old saying that you only see the rocks in the river when the river runs dry. The same is true of businesses and their cash flow; when it dries up, any failings become far more apparent. Cash performance has always been important in private equity-owned businesses, but the current economic environment is making it even more vital - not only in terms of value creation, but also building resilience. For example, businesses with strong balance sheets have greater flexibility because they can use their liquidity to invest quickly and acquire competitors. Jon Morris, EY-Parthenon UK&I Reshaping Results Leader, highlights three key areas where businesses can build the cash discipline and control needed in today’s markets; how to get a firm grip on cash, manage working capital more effectively and tap into treasury team excellence.?

Three cash disciplines to create value and resilience

2. How to climb the corporate ladder - not walk under it?

Are you part of an alumni network? Or maybe you couldn’t wait to move on to your new opportunity and so skipped joining that LinkedIn group or signing up to the email newsletter. Alumni networks are goldmines of talent. And so if you’re on the lookout for?new hires,?considering your next?career move or just want to keep a?pulse on the job market, they can be a great place to start. Welcoming back talent that?has left your company but remained in touch through an alumni program or personal contacts, has significant advantages. Trent Henry, EY Global Vice Chair of Talent, says: “Our alumni understand our business, our clients and company values. Each year, around 15% of our external hires are from our alumni community.” Having been tried and tested, alumni can bring not only their past experience, but vital new skills and perspectives.?

How can a reconnection today transform your tomorrow? ?

3. Take a look in the (hopefully not broken) mirror?

Is flexible working important to you? According to EY’s 2022 Work Reimagined Survey , nine in ten respondents said they’d consider leaving their job if flexible working wasn’t an option. But as the energy crisis has shown, flexibility means different things to different people. Take higher heating and cooling costs – the price rise may encourage younger people to work from the office more, but equally employees who commute by car are likely to want the opposite – to save money filling up their tank. The disruption is forcing organizations to respond in the moment; for example, by monitoring the impact of the cost-of-living crisis on employees and finding ways to support. But this focus on the short term may be preventing boards from thinking strategically. Businesses should take time to reflect on their current talent strategy, determine what talent the organization will need to achieve its future goals and then try to close the gap; with the Chief Human Resources Officer having a pivotal role throughout. ?

The Board Imperative: Further unlock the strategic value of CHROs

4. Don’t throw salt over your shoulder - recycle it

Electric vehicle?sales in the US, China and Europe will outpace all other engines three years sooner than previously expected, according to new EY research and analysis . With this sharp incline comes a corresponding rise in the demand for lithium-ion batteries (LIB). Put simply, today’s lithium-ion battery recycling value chain is not fit for purpose and demands a significant rethink.?Currently, pyrometallurgy is the most common recycling technique - sorry what??Pyrometallurgy?is a heat-based extraction and purification method but is highly capital and energy intensive. Growing pressure from consumers and regulators, notably the European Commission (EC), is just one reason why significant investment is now flowing into R&D partnerships to make the recycling process more efficient and sustainable. This includes sustainably extracting, separating and recycling high-value metal salts, like?lithium and nickel salts.?Which emerging leader will win the race??

10 ways to help build a thriving battery recycling industry in Europe

5. There is no room number 13 but there is hope for smaller hotels?

Within Europe, independent small and medium-sized hotel accommodations account for roughly 63% of room capacity. But despite growing tourism (pre-COVID-19 pandemic), these accommodations are facing competition from large international hotel chains. Over the last 10 years, the independent accommodation market share has decreased by around 10%, with the trend expected to continue. So, when it comes to choosing a hotel, where are consumers looking, and where are they booking? From bloggers and influencers, tourist associations to?online travel agents, there are a variety of information channels available to consumers now, which aim to trigger and influence?their travel behavior. And while a large proportion of European accommodation bookings are still made offline, the online option has grown rapidly. So, just how can?smaller, independent accommodations compete with the big players??

How to help Europe’s small and independent hotel market succeed

If you do one thing:?

Reconnect with an old colleague - you never know what opportunities may come from it. ?

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