Exploring Career Opportunities: French Students Visit AX Group

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A group of students from the CFA Academie in France visited Malta to explore diverse job opportunities and broaden their career perspectives. Their visit was not just a chance to discover potential career paths but also an opportunity for cultural exchange and professional development.

The students, accompanied by their tutor together with Ms. Josephine Grima Head of Human Resources at AX Group, were welcomed at the AX Group Business Centre for an exclusive show-around the offices. The tour included a brief explanation of the functions of various departments operating at head office, offering a firsthand look at the dynamic environment within AX Group. Ms. Grima provided insight how individuals could carve out meaningful careers across diverse sectors through opportunities for growth, training programs, and mentorship initiatives.

Mr. Nicky Camilleri, Chief Operating Officer at AX Group, shared valuable insights into the Group’s diverse business and human resource portfolio. He spoke about the Group’s cross-industry presence, with involvement in sectors ranging from construction and hospitality to real estate and beyond, presenting various avenues for professional development within the Group. This included discussions on talent development initiatives, and the overall commitment to nurturing a skilled and motivated workforce.

 

A second group of students had the opportunity to exclusively visit the ODYCY Hotel in Qawra where they were also residing during their stay in Malta. This experience allowed them to witness back of house operations and gain insight into the world of hospitality that surpasses quality and customer expectations. Through a planned agenda of interactive sessions, the participants were encouraged to ask questions, obtaining a deeper understanding of the hotel’s vision and commitment to guest satisfaction.

These two experiences were made possible through the efforts of Kenneth Baldacchino, Managing Director of Event Solutions Malta by Vacations Malta Ltd. AX Group is committed to supporting educational initiatives that contribute to the development of future professionals. Through experiences like these, we aim to inspire and guide the next generation, helping them make informed decisions about their career paths. We look forward to more such collaborative initiatives that bridge the gap between education and practical knowledge.

 

Leveraging ESG to Create Value: A Shift in Leadership Mindset

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In today’s dynamic business landscape, the pursuit of enduring success has taken centre stage. For years, enterprises have optimized operations through established models like Porter’s Value Chain, primarily focused on their bottom line. However, as the world shifts towards Environmental, Social, and Governance (ESG) considerations in business decision-making, we face a pivotal question: Should business leaders disrupt well-established routines? And where does the true value of ESG lie?

 

Unearthing Value through Disruption:

Traditionally, businesses have been reluctant to disrupt functioning routines, but value can emerge through disruptive initiatives, especially within the realms of ESG and business transformation. ESG signifies a critical paradigm shift, emphasizing profits alongside broader responsibilities towards the environment, society, and governance. So, how can we persuade business leaders to embrace this change?

 

ESG’s Multi-Dimensional Value:

 

Beneath the surface, ESG practices are inherently value-driven and definitely not disruptive. ESG performance increasingly influences funding costs; businesses excelling in ESG will find it easier to secure capital at lower costs, while those with poor records may face higher interest rates and stringent terms. A clear and direct detriment to businesses’ longevity and prosperity.

Furthermore, ESG practices tackle pressing global challenges like resource scarcity and environmental consequences. Poor ESG practices can lead to resource shortages as well as increased costs due carbon-related expenses resulting from CO2 emissions, including ‘carbon taxes’ and reputational damage among others.

As consumer preferences evolve, businesses that fail to adapt to ESG requirements risk having products and services rendered obsolete, as is looming in the shift from traditional diesel engines to sustainable alternatives in the automobile industry.

 

 

 

The ‘G’ in ESG: Governance’s Pivotal Role:

The ‘G’ in ESG represents Governance, a cornerstone for driving change within organizations. History furnishes us with a pertinent illustration from the banking sector, where efforts were made to mitigate risks stemming from high-risk endeavours undertaken by executives in the quest for profitability. As part of their strategic measures, ECB, emphasised on reforming executive and board compensation structures.  In an environment where ESG initiatives may be seen as counterproductive by leaders pursuing bottom line results it is high time to focus on strategic measures for ESG to be prioritised.

Among other measures, shareholders should push for performance assessment metrics that include ESG metrics to establish executive pay as well as providing ESG champions with direct access to the board.

 

 

Executive remuneration.

To establish a culture of ESG responsibility among business leaders, organizations should implement a robust system of ESG Key Performance Indicators (KPIs) that carry significant weight alongside traditional financial metrics. The integration of ESG KPIs is essential for driving meaningful change within an organization.

  • Penalizing Poor Performing Managers: In cases where executives exhibit subpar ESG performance, it is imperative to impose internal penalties that directly impact the financial performance of their respective divisions. These penalties should extend to their performance bonuses, creating a direct link between ESG goals and financial outcomes. This approach aligns the interests of business leaders with the organization’s commitment to sustainable practices, reinforcing the urgency of ESG responsibilities.
  • Rewarding Excellence: To further incentivize ESG excellence, penalties imposed on underperforming divisions can be strategically redirected to lower the financing costs of high-performing ESG divisions. By reducing the financial burden on these exemplary divisions, this approach not only acknowledges and motivates those driving ESG initiatives but also enhances their profitability. Ultimately, this financial reward system encourages managers to prioritize ESG goals, ensuring that sustainable practices become integral to their division’s success.

 

In this way, the strategic use of ESG KPIs not only holds business leaders accountable for their environmental, social, and governance responsibilities but also actively promotes a culture of sustainability, where achieving ESG targets is not just a moral obligation but a route to enhanced financial performance and success. This measure may initially seem harsh, but it becomes necessary in organizations where managers fail to understand the importance of ESG, driving home the critical connection between responsible business practices and overall success.

 

In a world where short-term gains are no longer sustainable, businesses must pivot toward ESG and business transformation for lasting value creation. The key to this shift’s success lies in reshaping the mindset of business leaders. linking ESG KPIs to financial consequences is one way to persuade business leaders to embrace ESG principles, not merely as a moral obligation but as a strategic necessity for shareholder wealth and long-term sustainability. It’s time to redefine success in business by uniting around the common goal of a more sustainable future.