Fitch Bennett Partners

The working world is always improving. From Taylorism* to today’s “War for Talent” movement, our society and its economic model are evolving and transforming everyday. In order to avoid the consequences of these changes and to turn this evolution into a deep core growth, companies must think about a strategy for recruiting and retaining talent. But then, as a business owner, how can you avoid your employees leaving? Fitch Bennett Partners has some answers for you.   “Talent wars”,”the Great Resignation” and, most recently, the #balancetonsalaire… These idioms are on everyone’s lips. And they are nothing more than the translation of the search for well-being at work in all its forms (and has been emphasized by the Covid-19’s health and economic crisis.) That’s why we are now witnessing the transformation of our society and, by extension, whole the working world. Nowadays, decision-makers and their managers have no choice but to adapt themselves to the new requirements of the talents they want to hire, as traditional business environments has become obsolete. In order to avoid turnover and retain employees, companies need to implement a global recruitment and management strategy.   Retaining employees: 4 tips from the Fitch Bennett Partners experience The Fitch Bennett Partners team meets candidates and employees from a variety of industries every day. Generally, employees are satisfied with their company when :   Fair-value is fully satisfactory The investment, the added value and the function of the employees must be aligned with their salary. This number one rule seems obvious but is too often forgotten (sometimes unconsciously). We have met many job seekers who have left their jobs because they felt neither financially valued nor promoted. Take a moment to reflect on the efforts your employees make on a daily basis and ask yourself if they are valued at all?   Flexibility on working conditions This is no longer new. With the Covid-19 crisis, teleworkers have enjoyed this freedom, which offers many benefits, both on economic dimensions and on comfort. For example, if we look further, many large companies opted for a revolutionary division of working time: 4 days of work without any salary reduction. Without going that far, it may be interesting to think about flexible working hours for your employees. Allowing flexible working hours allows employees to adjust their working hours to suit personal appointments. In this respect, an employee will be more inclined to stay with the company if the company takes care of his or her important life moments, both professional and personal (marriage, return from paternity/maternity leave, job change, etc.).   Managerial mentoring Candidates are looking for managers who inspire them, legitimate people they want to be like and learn from. The manager therefore has a central role in retaining talents. Inclusive, they must also make well-being a managerial norm by promoting understanding between team members. To involve the team in achieving common goals, he or she could co-construct and reinforce the corporate culture with the employees.   The quest for meaning No more work for working only. Employees are looking for the possibility to evolve in their jobs but also for a meaningful tasks on a daily basis. On the one hand, they must be able to visualize a career development within their company. On the other hand, they want to involve their work in their personal ethics and vice versa. To respond to this, the company’s decision-makers and managers must include the employee in the company’s overall objectives and make him or her understand why his or her place and role are important. This can be done through regular exchange and feedback moments. They can also promote training and skills enhancement in case of lack of knowledge or willingness to evolve.   Losing talent does not mean losing knowledge Sometimes losing a talent with high added value is unavoidable. It’s not necessarily about your company, its culture or its environment, but about the interest of your employee. You’ve tried everything to keep them, but no matter what you offer, they want to leave. So, have you thought about knowledge management?   Knowledge management is a process that allows you to keep the knowledge of your employees within the company. At the end of an employee’s contract, several strategies can be put in place to pass on rare knowledge and skills to his successor. This is a solution that should not be overlooked in order to onboard your new employee.   In the end, in order to contribute to the success of the company, the employer must combine the interests of the organisation and those of the employees. If there is only one thing we can take away from this article, it is that talent retention must be thought out in such a way as to insert the employee into a work environment that is appropriate to their aspirations.   You may also be interested in this article: Developing your employer brand, a major challenge to attract and retain talent   *A method of scientific organisation of industrial work, through the maximum use of tools and the elimination of useless gestures.  

The tensions in the recruitment market for “top manager” profiles, resulting from a mismatch between the reciprocal expectations of supply (company) and demand (candidate), made it inevitable for companies wishing to attract talented women and men to ensure the quality of their “employer brand”. This strategy consists in creating an attractive image for the company itself in order to encourage partners, clients, employees and talent to want to work for the enterprise. But the question is… How can companies develop a strong and sustainable employer brand to attract new talents? Recruitment is more and more challenging. Not because of a lack of candidates on the job market (the United Nations actually projects that global unemployment will rise above 200 million people in 2022), but because most candidates no longer want to work without a purpose, they want to work to give meaning to their lives. In the United States, the phenomenon of the “Great Resignation” has reinforced the difficulties of retaining talented men and women within companies. After a long period of uncertainty due to Covid-19, a huge amount of Americans have left their jobs. In the first quarter of 2022, there were 4 million employees across the Atlantic leaving their jobs each month.   To measure the situation in France, the DARES has carried out a study highlighting that the risk of a “Great Resignation” is “now evoked”, noting that the resignation rate to be expected will be “high but not unprecedented”. With a 2.7% resignation rate, it is the highest since the 2008/2009 financial crisis, but it remains below the levels reached at that time. (see graph 2)   See the article: Recruitment trends for the first half of 2022   With the market in turmoil and candidates’ new expectations of what they want and especially what they don’t want in their work space, the economic situation is making it more difficult to complete recruitments. The proportion of companies reporting recruitment difficulties is skyrocketing. (see graph 5)   [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_row_inner][vc_column_inner][thb_image image=”15246″ img_size=”full”][/thb_image][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/2″][thb_image alignment=”alignnone” image=”15245″ img_size=”full”][/thb_image][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] To remedy this problem, they are therefore trying, by all possible means, to attract the best talent to them, through attractive values, social benefits and offering greater flexibility and agility.   Developing a strong employer brand to attract the best talents: a necessity to bend the competition   Whether you are in a VSE or a large listed group, whether you operate in the Tech, Finance, Industry or Business Travel sector, to differentiate yourself and make your organization attractive, you need to shape your “employer brand”.  Imagine missing out on the talent you are looking for because another company offered better social services?   The stakes are high. In a context where the recruitment market is difficult, it is better to avoid massive turnover at all costs. And if you need new employees to generate more turnover with or without the help of a headhunter, it will be necessary to rely on the employer brand to find the best talents. But how do you do that?   Improving your employer brand: what are candidates looking for?   Authenticity must be a priority Like greenwashing, employer branding should not be idealized. Many companies make their image more attractive to make candidates want to come and work in their environment without paying attention to the reality on the ground. Once there, the candidate who has become an employee is disillusioned.  Transparency and authenticity about the reality of the missions, the environment and the atmosphere are essential so that the candidate can project himself without getting the wrong idea. It can be useful to make a diagnosis of the realities of the company’s environment, culture and values in order to communicate and build its speech.    Working on the candidate’s background Before making people want to come and work for your company, by describing its culture and working conditions, put yourself in the candidate’s shoes. Making your company attractive starts from the moment they enter. Ask yourself how you can simplify your recruitment and on-boarding processes for your employees.    The logic of seduction During the so-called “fit” interview, the candidate is not the only one who must seduce. The balance of power has been reversed, so the company must present the advantages of joining its organization to candidates from the very first exchanges.  In addition, besides the remuneration elements, candidates are more and more looking at the working conditions such as flexibility and autonomy. A study by CadreEmploi shows that nearly 80% of executives “plan to become more demanding of their employer, mainly in terms of maintaining a work-life balance (68%) and, logically, the possibility of working remotely (64%)”. Talent expectations are increasingly focused on the feeling of being useful and the feeling of well-being.    Through the Hunter’s Eye: Your company as perceived by the market   If you are a company looking to attract the best talent to join your team, Fitch Bennett advises you in order to improve your employer brand to watch out for:   Your e-reputation: it is essential that your company can be found via search engines, social networks, dedicated rating sites (Glassdoor; Trustpilot) to display positive reviews as well as a good rating (> 4 stars). Your recruitment process: if well organized, efficient and if the meetings are done in a coherent timing, you maximize the chances to converge with the candidates towards a common interest. The people chosen to lead the process must have a direct link with the candidate’s future position (meeting with the N+1, N+2), they must be able to explain the company’s project, the person’s role and highlight the prospects for internal development. Be an inspiring leader to make talented people want to work with you. Your commitments: strategic commitments (setting up a CSR pole; partnership with companies in line with your values) commitments made to your employees internally (respect for work/life; offering remuneration in line with the market; offering telecommuting).   3 essential issues that we analyze on a daily basis

In a market in which recruitment is very competitive, it is increasingly difficult to identify and attract the right profile in perfect adequacy with the proposed position. Between the long delays in processing applications, the inappropriate profiles for the mission and the multiplication of ads beyond social networks, with mixed results, managers are struggling to strengthen their organization of key profiles. To curb these situations, trusting the advice of a headhunter can save a lot of time. But how to choose the headhunter who will make the difference? Our experts answer. A recruitment consultant, commonly called “headhunter”, is in charge of approaching high value-added talents to support the development of your organization. As the manager’s right-hand man, he defines the recruitment’s objectives and advises the manager to find the perfect match for the job. Professional and personal qualities, soft skills, detailed knowledge of the business and leadership… He reviews the characteristics of the ideal candidate before starting his mission in order to get as close as possible to the company’s needs.   Also read: Recruitment trends for the first semester of 2022     Saving time is crucial when you are a business leader! At a time where recruitment is highly competitive, the headhunter guarantees to meet people from his network of talented women and men previously identified and pre-qualified by him. But that’s not all! When it comes to recruiting the best profile, it is not enough to approach a person, it is also necessary to reinforce the attractiveness of your company: with the advice of a headhunter, ambassador of your brand and in charge of your mission.   But then… How do you select a headhunter? This is a question that many of our clients have already asked themselves! The headhunter is not a magician and his choice should not be made by chance. His discretion, his selection, his ability to convince and his ability to penetrate closed networks to find the raw diamond who will be able to join your organization. In charge of your missions and mastering the culture and the stakes of your organization, the headhunter is able to meet the new requirements of candidates: – Autonomy and responsibility – Having a positive impact on society and the planet (RSE actions) – A better quality of life at work (respect for professional and private life, working conditions…) – A coherent “fair-value” between the investment, the role and the proposed salary… As you can see, the headhunter, ambassador of your brand, must have the power of persuasion and the ability to present a coherent and challenging research project contacting by direct approach your future talents. The headhunter must be able to gather factual elements to advise and solve the recruitment needs of his clients. On the lookout for trends in the market, the headhunter monitors the competition for the benefit of his clients. He thus contributes to the growth of your company through his advice and results.     Why choose Fitch Bennett Partners as your headhunting firm? Fitch Bennett Partners presents itself as a true partner and our experience shows a real know-how in the search, qualification and selection of profiles members of executive committees or management. Our partners in France and abroad are fully aware of the reality of their environment in terms of business issues, organizational transformation, consulting and the relevance of the profiles to be presented in an approach that is completely discreet and strictly confidential.  

Faced with increased competition in the start-up and scale-up ecosystem and the rapid emergence in France of so-called “unicorns” (companies valued at more than 1 billion euros – there are 25 of them, 23 of which are active in France after the IPOs of OVH and Deezer) and their massive need to recruit specialized expertise, the Executive Search firms must redouble their efforts to attract talent with “rare” skills in a highly volatile market around new professions. Often questioned directly by investment funds/private equity or founders on the ability of a firm to accompany their search for talents “plug & play”, hands-on, to accelerate their growth, a question arises for these “fast-growing companies”. How, in a structure that is constantly changing, can they succeed in attracting profiles with experience? Thanks to its field experience, Fitch Bennett Partners has put together some ideas. Starting with the fact that the world of French Tech has taken more and more space on the French market… So much that France has become a real start-up nation (in a study published by the INSEE in 2021, the General Directorate of Businesses puts the number of start-ups in France at 1 million in 2018). As early as 1942, the economist Joseph Alois Schumpeter* showed that entrepreneurs were the engines of economic development : thanks to their new activity, start-ups create not only value but also supply on the labour market.   The effects of start-up and scale-up innovation on employment   The effects of innovation on employment have also been analyzed in the economic literature. Report of the Reseau Emplois Competences of the Ministry of the Economy, Finance and Recovery, published in October 2021, describes them. In this report, it is noted that start-ups and scale-ups create more jobs than other types of companies. “A broad definition of a start-up taking into account only the age of the company attributed 1.5 million jobs to start-ups in 2018. This number varies between 40,000 jobs (start-ups raising funds) and 114,000 jobs (innovative companies) if, in addition to age, other identification criteria are used”, explain the authors. The boom in start-ups is creating a strong demand for experienced, high-potential profiles on the market to accompany the exponential growth of these companies   To accompany this hypergrowth: structuring, experience and leadership will be sought to strengthen the COMEX of these companies   In this context, a start-up/scale-up that wants to keep its “first-mover advantage” will have no another choice to hire experienced talent who have already successfully completed similar assignments. Indeed, this type of profile will enable them to : Four points that make up the ideal candidate for managers who, busy with an overbooked day-to-day life, do not take the time to be accompanied in the recruitment of their talents. And that’s a shame, because a bad recruitment is a wasted investment of time and money.   Entrust your search to an executive search firm to attract these high value-added talents Much more than recruitment, attracting this type of talent to join your organization, especially at executive committee level, which will have a big impact on the future of your company, is a real “seduction operation”… And in seduction, there are codes ! A confidential approach, an understanding of the sector of activity and growth issues, knowledge of the ecosystem (network; namedropping) and approved success stories in similar contexts. Hence the need to call on recruitment professionals to support you. Ultimately, the best firm to accompany you in your search is the one that can best speak to the ears of your target audience and convince them to join your organization. At Fitch Bennett Partners, we allow you to capitalise on a network and a pool of experts of talented men and women. In addition, we guarantee a confidential and qualitative approach. We know the candidate market well, it is necessary to dig into the issues and the vision shared by the co-founders and/or the investment fund or private equity to support the development of the company and attract the best talent.   * Schumpeter J. A. (1942), Capitalism, Socialism, and Democracy, New York, Harper. Discover also : the testimony of Murielle Machiels, an overworked CEO who switched to Slow LeaderShip.  

Recruitment Trend Analysis. The second quarter of 2022 confirms our analysis of companies’ hiring outlook in a volatile, uncertain, complex and ambiguous (VICA) environment. Reassuring news. The French Bank economic survey of 8,500 business leaders reinforces this outlook. Activity, after having progressed in April and May, resisted in June. The French Bank confirms that French GDP is expected to increase by 2.3% for the year. Businesses’ hiring forecasts therefore remain at a high overall level compared to previous years. However, it is worth noting that large companies’ hiring intentions were down at the end of June. Recruitment trends: a dynamic market in France and abroad A large majority of our clients continue to invest in the recruitment of talented men and women. They hope to improve the performance of their organizations in a complex environment and to meet new human, societal and technological challenges. Recruitment missions in France and internationally (Europe, the United Kingdom and North America) have therefore been supported by business development, operations management and experts in all sectors of activity. Interim management also performed well, focusing on operational projects and interim management. Several priorities will maintain the momentum of the recruitment and talent management market, both nationally and internationally, in the second half of the year: Retention of the best performing managers, training in leadership and new managerial practices, recruitment of new leaders and experts, development of young talent and reinforcement of operational teams through the provision of experienced interim managers. Increasing recruitment difficulties in companies In the spring of 2021, the French Bank survey identified only 37% of managers facing this problem. In June 2022, the highest level ever was recorded with an increase of 21 points. The companies surveyed are 58% concerned. While all sectors of activity are affected, recruitment difficulties are increasing more in the Industry, Construction and Consulting sectors. The second half of the year will be rich in information on the evolution of the dynamics of the employment market. The latter is likely to be impacted in particular by high salary expectations, higher turnover than in previous years, sectors with a high level of shortage with poor adaptability of supply and demand, and the impact of the “Papy Boomers”. Companies’ expectations in this new context Executives express the following priorities in the management of their organizations in the current environment: Talent management, a major challenge in a tight market. The creation of CSR positions, a commitment that contributes fully to the value of their company. The desire to provide the company with the best skills in each field in France and abroad. Continuous improvement of the collective performance of its teams and the efficiency of its organization. The pursuit of digital transformation with the right expertise. The added value of an Executive Search firm such as FITCH BENNETT Partners and its international network comes into its own here. It enables us to advise and support companies in meeting these key challenges in the fields of recruitment and talent management.

From the overwhelmed CEO to Slow Leadership, the way to handle situations from a crisis environment. Fitch Bennett Partners, a partner of companies in the field of research and coaching of their employees, has been looking into the concept of Slow Leadership by meeting Murielle Machiels, an overbooked ex-CEO who is now a Slow Leadership practitioner and trainer. When she was appointed CEO of a media company, she knew that the company was losing momentum, due to a rapid digitalization of the world and the anxiousness of her shareholders who wanted to sell quickly at an acceptable price. Murielle Machiels’ first reaction was quite classic, even if demanding: create a digital strategy, adapt the organization chart, hunt for costs and imagine the launch of new products, all at a frantic pace that she imposed on herself by dragging her teams along for the ride. The result? Growth in turnover, but also low cost reduction, increased absenteeism and the appearance of burn-outs. She herself felt a lot of pain in her body, exhausted by the energy required. New practices in the service of Slow Management… Failure was not a solution, she had been hired to succeed. So Murielle decided to take another route, that of Slow Leadership. She followed ontological coaching courses (brain, emotion and body) and other courses. She applied herself to follow these new practices, then to motivate her teams to follow them. With success, on the one hand, margins increased, but on the other hand, absenteeism and burn-outs dropped significantly. Fitch Bennett Partners, whose logo includes the words “Happy People, Happy Company”, was interested in understanding more… and Murielle explained: the method consists in slowing down, organizing regular breaks to manage the mental state before each action, being creative before being operational, managing one’s energy and fears, letting go in order to be able to concentrate, trusting rather than controlling, empowering rather than taking charge and creating an environment where everyone can flourish. Too good to be true? Murielle left the company after the sale to launch her training project (QiLeader.com). More than 1,000 executives have taken this training at the request of companies, some of which are also clients of Fitch Bennett Partners. This practice helps attract the best candidates. Jean-Paul Bissen Managing Partner Benelux

In 2022, are positions of responsibility still given based on the gender of candidates? Not so sure! An improvement in professional equality has clearly emerged in boards of directors since 2011, with the enactment of the Copé-Zimmerman law. But, despite this balance of quotas, jobs’ feminization could still be improved, especially within management and executive committees… Thanks to the support and advice of direct approach recruitment firms. In the 60s, Business Schools were largely composed of men. Historically, a relatively privileged audience could enter business and engineering schools. We had to wait until the 70s for the proportion of women to almost reach the proportion of men. Since then, laws on the subject of discrimination against women in hiring have been introduced. For example, in 2011, the Copé-Zimmermann law propelled the feminization of jobs by setting up quotas in the boards of directors and supervisory boards. The objective was to increase parity in positions of high responsibility and to reduce the inequality of salary treatment in organizations. “Thanks to the quotas for women on boards of directors and supervisory boards, the large listed companies in the CAC 40 (44.6%) and SBF 120 (43.6%) have been successful. And in ten years, the progress is spectacular for CAC 40 companies: in 2009, 10% and 2019, 44%,” notes the report of the High Council for Equality between Women and Men (HCE), published in 2019. We can then note a continuous improvement in the feminization of boards, to almost reach parity in 2019. Ten years later, the Copé-Zimmermann law had been congratulated by the Ministry of Labor: the results are there, France has slipped to first place on the podium within the European Union.  What about comex? Gender diversity is in place, but it is not going at the same pace in all sectors. What can be analyzed is that women are more often enrolled in so-called “support” functions, such as marketing & communication, legal or even human resources. They are under-represented in financial or sales positions.  More recently, the “Rixain” law, adopted in 2021 and effective in March 2022, invites companies to go even further as it allows the implementation of several measures, including the respect of a balanced distribution of men and women among their top management… For example, a quota of 30% of women in management positions must be applied from March 2026 and the rate will increase to 40% in 2029. Today, women would only represent 24% of high position jobs in all COMEX of SBF120 companies. Boards’ feminization under certain conditions The challenge is to keep the best profiles, no matter their gender. The problem is that women have been penalized for a long time in some companies, between salary inequalities and motherhood pressure. Lots of women did not feel fully integrated and preferred to leave their job for a more inclusive and accommodating structure. It is fundamental that companies take into consideration the constraints unconsciously imposed on women and reinvent their operating methods. As we know, a real war for talent has broken out in the market and taking the risk of losing a talent upsets the well-being of the whole company.  If companies want to keep their female talents, they will have to innovate and review their operating methods: adapt their managerial culture, modify women’s trajectories by making them more flexible, alternate levels and ascending phases, these issues are essential to be able to feel at one’s place and considered in the organization. Why trust Fitch Bennett Partners ? To fairly correct this imbalance, solutions can be considered. To reflect and adopt a consulting posture in the recruitment strategy, Fitch Bennett Partners accompanies organizations.  Our firm deals with these societal issues on a daily basis and our support to clients in their recruitment process leads us to conduct inclusive recruitment strategies. Neutrality has always been one of our values in presenting talent, both male and female. And this, without any salary distinction for equivalent experience and the same level of training.

This first quarter of 2022 confirms the dynamics of the job market initiated in 2021. In this context, companies are facing strong competition on the search for talented men and women which is becoming a key issue in all organizations. This first quarter seems to be driven by a Covid-19 catch-up effect, business transformation needs, deficiency sectors with a poor adaptability of supply and demand and the strong impact of the Papy-boomer effects. Our Clients, Scale-up, SME, ETI and Private Equity in the Hightech, Digital, Industries, FMCG, Banking – Insurance, Business Consulting and Pharma Health sectors contribute to this dynamic in France as well as internationally, (Europe, North America and China). The expertise sought was in general management, sales, finance, HR, IT, purchasing and supply chain functions. As talent acquisition and management require our expertise, our tailor-made executive assessment and coaching services, as well as relay management assignments, were particularly requested during this period. In a context where client companies are driving change in a VUCA (Volatile, Uncertain, Complex and Ambiguous) world, they remain vigilant about the risks they face: health, inflation, foreign exchange and raw material shortages, not to mention geopolitical risks (Ukraine, China). Our environment allows us to remain on a positive trend on the job market for the next few months thanks to our expertise in executive search and C-level coaching, the quality of our network of talented men and women, and our role as advisor to our Clients and Candidates.

A study conducted by the Dares, in March 2022, highlights that 37% of the employees are working in a structure facing “a lack of staff or some difficulties to recruit”. This figure can be explained by the fundamental change in the balance of power during the recruitment process. Indeed, the salary itself is no longer enough to attract candidates to a position. This difficulty in recruiting and retaining candidates is particularly tangible in digital, high-tech and sales jobs, where offers are multiplying. During the Covid-19 period, many companies realized the importance of prospecting and being part of the digitization. These companies, no longer wishing to subcontract, even massively hired professionals to carry their digital projects in-house. “Many employees now carry out their activity from work, in remote work. And a multitude of companies have adopted digital-based business models to maintain their revenue,” according to this OECD report. The war for talent took over the marketplace Over the past few months the balance of power has shifted between employer and employee. High-potential profiles have become aware of their expertise value due to the multiplication of job poaching. On the other hand, they have assimilated the importance of working in an environment that suits them. As a result, candidates are now more and more demanding about their working conditions. Salary is no longer enough. To take up a new position in a company, candidates are looking for the best environment and working conditions possible: the perspective of an evolution, an inspiring manager, a good understanding between employees, a good social climate, a CSR approach, and having a real meaning to their days… Anglo-Saxon economists used the idiom “great resignation”. This phenomenon describes a wave of resignations due to “boredom” or “loss of interest” in one’s job. It has led company managers to make strategic decisions such as changing the profile of the employees they recruit or even increasing salaries to make themselves more attractive. The objective: not letting the best talents leave. The first way to think about this? It’s called employer brand (the attractiveness created by the reputation in a company). An option that American giants such as Google or Netflix have well understood – have you ever heard of the slides in their offices? – and also work on its employer brand in the longer term. The other, more consistent option: using an executive search firm. Why use an executive search firm? We often hear about recruitment firms by direct approach without perceiving their practicality. An executive search firm puts companies and candidates in touch with each other, according to the expectations of both parties. This allows for a follow-up and recommendations adjusted to the needs of the employer. It is also an essential time-saver in the recruitment process. The specialized teams offer a service based on a very good knowledge of the business expertise and the markets. This more direct approach allows us to advise and support candidates in the various stages of their professional project. This way, they present to companies only those who will fit perfectly with their vision, ambitions and corporate culture. __ Fitch Bennett Partners puts at your disposal a team of professionals in the fields of Executive Search, Career Management and Transition Management. Our ambition: to accompany you, under the impulse of a mastered know-how and a broad knowledge of the business world.