Mindcor and Colegacy unite
With offices opening and work commencing for the year, it is clear that 2017 has well and truly begun. The start of the year not only brings with it a renewed sense of energy and excitement, it also carries with it an abundance of opportunities to improve on where we left off in 2016.
Many people use this time to make resolutions on how to live a better life in the coming year and whilst this starts off as is fun and exciting, it usually doesn’t take long for us to fall into old habits and routines. The same can be said about organisations and their alignment to pressing issues such as job creation and transformation. Whilst the year may begin with the resolve to contribute to lasting change in South Africa, it requires the right setting and daily commitment to make transformation a reality. All leaders in society have the responsibility to create the necessary environment and structures to support transformation amongst all South Africans, particularly when inequality exists within so many facets of our society.
Policies such as B-BBEE have been established in an attempt to drive equality promoting practises within organisations, but the effects can be overshadowed by uncertainty amongst business leaders leading to scepticism towards compliance. For individuals, B-BBEE is not only helpful in increasing racial and cultural diversity within organisations but also support women in the workplace and the challenges they face. Likewise, B-BBEE can offer organisations many new opportunities for growth, not only directly through preferred procurement but also as a result of the indirect benefits of greater diversity amongst workforces and the positive impact it has on the company’s bottom line. For example, a study amongst Fortune 500 companies revealed that organisations with a strong female leadership presence experienced up to 53% higher return on equity than their male-run counterparts. They also gained 66% more return on invested capital and boasted 42% higher sales figures. In spite of the overwhelming evidence that highlights the benefits of a strong female presence within leadership positions, there is still a worldwide prevalence of men occupying C-suit roles with only 4.6% of CEOs on the Fortune 500 companies being women. This example shows the dismal rate in which women are occupying executive and leadership positions and the consequences it holds for organisations across many industries.
In the broader vision of transforming businesses in South Africa, the responsibility rests upon all of us to make inclusion a reality and not pass it off as the responsibility of a government or department to implement. The power that can be harnessed through increased diversity and unity in organisations can be unparalleled if all parties make a full commitment to change. With this in mind, 2016 saw Mindcor and Colegacy step up to the plate and show that transformation is not only possible, it is an advantage that more South African organisations should embrace. Mindcor has invited the Colegacy Business Group to be a part of their growing consulting practise, collectively combining the agility, skills, and diversity of a small consultancy organisation with the expertise and reach of a holistic human capital business partner. This has resulted in the Mindcor team welcoming the CEO of Colegacy, Zanele Luhabe, as the new Managing Director of Mindcor Consulting. Not only does this exciting time bring with it a whole new injection of capabilities and perspectives, introducing an established business woman like Zanele Luhabe into the leadership team has created a host of potential opportunities through the networks that she has built up across her successful career as an entrepreneur and consultant.
What makes this partnership ideal is the capabilities and structures we have in place to support business growth and assist in negotiating the applicable B-BBEE regulations and requirements. It is also ideal to have a diverse leadership team in place to ensure that the business and related strategies have been considered from a multitude of perspectives, placing focus on developing the best solution possible as opposed to settling for the top suggestion made.
Our hope is that this story can serve as a reminder for individuals and organisations alike of the great deal of strength that lies in utilising local talent and businesses, encouraging them to use the start of the year to take the all important first step. Inclusion will ultimately combine our strengths, minimise our weaknesses, and encourage collaboration in working towards the ultimate destination of success, sustainability, and unity.