May 19, 2020

5 ways your company can boost workplace morale

Leadership
Australia
Recognition PR
REFFIND
REFFIND
2 min
5 ways your company can boost workplace morale

Employee motivation is a key element in workplace productivity. Motivated employees often have the organisation’s interests in mind and deliver better results. Building morale among employees is often an effective way to increase motivation. 

Jamie Pride, managing director and co-founder, REFFIND said, “While morale alone may not necessarily increase productivity, the things that good employers do to buoy morale, such as investing time and effort into understanding their employees and making sure they are engaged, will result in productivity returns.” 

RELATED TOPIC: 3 ways to drive business value from IT investments

REFFIND has identified five key ways to boost morale in an organisation: 

1. Define core values and stick to them 
Core organisational values help to define what is expected and respected within the organisation. Whatever these values may be, what matters most is that they are unwavering and clearly communicated. Putting these values into action will help employees and management become more closely aligned. 

2. Encourage conversation 
Very few people enjoy working in isolation. Regular interaction keeps employees more engaged and connected. Even brief conversations among colleagues can have a significant effect on employee morale. Regular conversation can be encouraged by providing social spaces or digital engagement platforms for employees to interact freely. 

RELATED TOPIC: 4 ways to limit the possibility of failing technology

3. Build relationships 
Giving employees the opportunity to interact easily is the first step to building relationships in the workplace and throughout the organisation. Providing engagement channels and encouraging people throughout the company to converse with anyone else in the organisation helps to build social cohesion from one end of the business to the other. 

4. Be flexible 
There are often very good reasons for employees to be in the office between the traditional nine-to-five office hours. Face-to-face meetings and business events require physical attendance, for example. Otherwise, flexible working hours let employees take care of other aspects of their lives, leading to greater worker satisfaction. 

RELATED TOPIC: Here Are 4 Tips to Avoid Workplace Fatigue At Your Business

5. Celebrate achievements 
Publicly acknowledging a job well executed by an individual or team will often encourage employees to go the extra mile. Another way to celebrate achievements is to simply remember to thank people for completing a task well. Although this is small way to recognise successes, it can be effective. 

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Jun 13, 2021

Seo JungJin: Who is EY’s World Entrepreneur of 2021?

EY
entrepreneurs
Leadership
celltrion
Kate Birch
3 min
From just US$45,000 capital in 2003 to a world-leading biopharma giant with revenues of US$1.69bn today, Seo JungJin is crowned EY World Entrepreneur 2021

Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.

Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.

JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.

Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.

Why was JungJin crowned King Entrepreneur?

A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.

The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.

According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.

Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.

“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”

How did JungJin get there?

JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.

Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.

And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.

With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.

“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”

 

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