The last 12 months have seen a notable shift in hiring trends across Sydney and Melbourne. Job seekers demand greater work/life balance and seek more meaningful work. Employers need to deliver on business critical transformations against rising costs and financial pressures. Essential for both is flexibility. Amidst this evolution, the true engine of change and innovation remains constant: People. Their talent is the lifeblood that keeps businesses ahead of the curve. So, how can organisations thrive in this dynamic? Contract recruitment. It meets the demands of a changing workforce seeking flexibility and varied experiences and for employers, it underscores a strategic move towards agility and immediate expertise. However, imminent changes to the regulations governing fixed-term contracts, commencing 6 December 2023, will significantly impact the hiring of contractors in 2024 and beyond. Fixed-term contracts will be limited to a maximum of two years, including renewals and extensions, barring a few exceptions. For organisations in the throes of business transformation, embracing contract recruitment isn't merely about staying current; it's about harnessing the power of specialised skills on-demand and adapting swiftly to market shifts. In fact, the latest data from the Bureau of Statistics has revealed 390,000, or 3.4 per cent, of Australian workers are employed on contracts. The question is not whether contract recruitment is valuable, but rather, how organisations can swiftly adapt to these new regulatory changes. 1. The Growing Importance of Contract Recruitment in Technology & Business Change Transformation isn’t just about adopting new technologies or processes – it's about navigating a volatile, uncertain, complex, and often ambiguous environment. This calls for talent that can adapt quickly and bring in fresh perspectives. With global transformation spending expected to reach over $2.3 trillion by the end of 2023, according to the International Data Corporation, businesses are increasingly recognising the need for specialised skill sets to navigate these transitions. The dynamic nature of transformation projects means demand for very particular skills is often sudden – and once a project is complete, those skills may no longer be needed. Companies like Telstra, for instance, have tapped into contract recruitment to facilitate their shift from traditional telecommunications to modern IT services, bringing in expertise on a project-by-project basis. Success hinges on a nimbleness in sourcing the right talent. According to the Australian Bureau of Statistics, the contingent workforce, which includes contract workers, has seen a growth of over 15% in the past five years The meteoric rise of Australian FinTech firms is a prime example. As they pivot towards offering cutting-edge digital solutions, they have consistently relied on contract recruitment to bring in niche experts from global markets, who can integrate advanced technologies and then move on once the project concludes. This is where contract recruitment shines. But what are the tangible benefits of this approach under the new changes to fixed term contract regulations? 2. Benefits of Contract Recruitment for Business Transformation Contract recruitment remains an important employment avenue for organisations. Beyond expertise on-demand, it offers numerous benefits, including speed, flexibility, access to specialised skills, cost efficiency, risk mitigation, and wealth of experience from various industries, offering fresh viewpoints that can disrupt the status quo and foster innovation. Under the new regulations, employers will need to be more strategic in utilising fixed-term contracts, ensuring they align with the specified exemptions, such as engaging employees for distinct tasks involving specialised skills or covering peak demand periods. While the benefits of contract hiring are many and notable, the regulatory change mandates a more strategic approach in utilising contract recruitment, especially for longer-term transformation projects. According to the Australian Bureau of Statistics, the contingent workforce, which includes contract workers, has seen a growth of over 15% in the past five years, showcasing the increasing reliance on temporary skilled talent in the Australian business landscape. Let’s take the tech industry as a case in point. As tech giants in Australia scramble to integrate Artificial Intelligence into their solutions, they need experts who can work on these projects for 6-24 months. These are often roles that didn’t exist a few years ago, and the rush to get the best talent is fierce. It's a double-edged sword: while the potential benefits are tremendous, the pitfalls can be significant. So, what should businesses be wary of when they tap into contract recruitment under the forthcoming legislative changes? 3. Navigating Challenges with New Fixed-Term Contract Regulations The need to align with the new regulations shouldnt be viewed as a barrier, rather employers should plan and prepare for these changes. Employers must ensure compliance by providing a Fixed Term Employment Information Statement and adhering to the contract length limitations and renewal restrictions. Effective strategies to manage this include partnering with recruitment agencies and fostering a contractor-friendly work environment. In some cases, these changes may result in the termination of employment. In this instance, organisations can mitigate the risks associated with termination by focusing on creating an inclusive work environment, and consistently communicating the importance of the contractor's role until the contract concludes. Preparation for Contract Changes: Review Current Fixed Term Contracts: Assess each contract to determine the impact of new rules on extension or renewal possibilities. Evaluate Exemptions: Identify possible exemptions for extending or renewing contracts and seek legal advice if necessary. Plan for Employee Futures: Decide on future steps for employees whose contracts cannot be extended or renewed. Options include contract termination or permanent employment. Employee Consultation: Discuss potential impacts with affected employees, especially those accustomed to regular contract renewals. Assess New Fixed Term Contracts: Consider the feasibility of engaging new employees on fixed-term contracts. This is generally viable for employment needs up to two years, beyond which exemptions should be considered. 4. Consequences of Not Extending/Renewing Fixed Term Contracts Businesses unable to extend or renew a fixed-term contract, and without an exemption, face two primary options: allow the contract to end or transition the employee to permanent status. Ending the contract: If no exemption is likely to be applicable, the business will need to consider what the future plans are for the relevant employees. It would be best practice to consult with any employees that are likely to be affected by the changes, especially those employees who are used to being given periodic new fixed-term contracts each year. The complexities surrounding claims for unfair dismissal, redundancy pay, or notice at contract termination require specialised advice. For contractors transitioning to permanent status employers should consider: Integration into Company Culture: There's a myth that contractors, given their short tenure, might find it more challenging to integrate into the company culture on a permanent basis. To properly assimilate them into the company culture, comprehensive onboarding programs are essential, engage them in team-building exercises, and maintain open communication lines. Overcoming these challenges requires a multi-faceted approach, ensuring the optimal benefits of contract recruitment. 5. Strategies for Successful Contract Recruitment Within Regulatory Framework As businesses prepare for the road ahead, it's paramount to harness strategies that not only address these challenges but also set the stage for successful business transformation via contract recruitment. Clearly Define Roles and Expectations: It's imperative to outline clear deliverables and the scope of work from the outset. Cultivate Strong Relationships with Recruitment Agencies: Seek agencies specialising in your industry. Over time, a strong partnership with these agencies can ensure a steady flow of quality talent. Foster a Contractor-friendly Work Environment: Beyond the paycheck, offer contractors tools, resources, and a conducive environment to ensure they feel valued and integrated. Regular Reviews and Feedback Sessions: Keep the lines of communication open. Regularly check-in to ensure that both parties are aligned with the transformation goals and make adjustments based on feedback. The landscape of business transformation is rife with challenges, but with the right talent strategy, companies can navigate these forthcoming changes with agility and precision. Contract recruitment, with its plethora of benefits, remains a potent tool in an employer's arsenal. For Australian businesses on the cusp of transformation, it's time to rethink talent strategies under the New Fixed-Term Contract Regulations. Embrace contract recruitment, not as an alternative but as an essential part of your transformation journey.
There’s no better example of outstanding customer service than the Zappos flower incident. It all started when Zaz Lamarr was looking to return a pair of shoes to Zappos, when she was met with the sudden passing of her mother. Instead of nagging their customer about returning their product, Zappos responded with empathy. The company took the initiative to arrange the pickup procedure of Zaz’s shoes and even sent a bouquet as a sign of condolences. Their customer service team went above and beyond for their customers—and it worked. To emulate Zappos’s example, you need not just stellar employees, but a company culture that rewards that. And to find the best talents, you need to have an extensive hiring process. However, all HR departments know that this is easier said than done. According to LinkedIn studies, 89% of talent are more likely to join a company if recruiters contact them. This goes to show that conventional recruitment isn't cut out for today's new hires. So, how do you find new talent? If you can't rely on traditional means, you will need to adapt and improvise. For instance, 88% of global companies use AI to find new hires. Using unconventional or innovative means to find new hires can prove lucrative for your continued business. But that’s just one way to break the mold. Here’s a list of creative hiring strategies to use in your business for long-term success. 5 Strategies to Find the Brightest Talents Conventional recruitment techniques like newspaper ads are passé these days. Tapping into LinkedIn is a viable option, but it’s getting far more saturated. Everyone gets recruitment offers from LinkedIn in their inbox, so separating the real opportunities from the scams is harder than ever. To captivate your potential recruits, here are 5 of the best hiring strategies today. 1. Highlight Workplace Flexibility One good thing that came out of the COVID-19 pandemic is the normalisation of remote work. In fact, based on a report from Owl labs, 57% of workers prefer working from home. In addition, the same report showed that 55% of employees are more productive when working remotely. The report mentioned above also highlighted that only 16% of companies are fully remote. However, a study by Mercer showed that 70% of employers plan to adopt a hybrid workflow that embraces both office and remote work. So, to entice new hires, it’s a good idea to highlight workplace flexibility. By offering flexible working conditions, both you and your employees will reap several benefits like: Improved work efficiency Reduced hiring costs Lower office operating costs Access to a broader range of talents Competitive offers when compared to business rivals Improved employee satisfaction However, work flexibility is just one strategy for tapping into the best talent pool. 2. Promoting Diversity In today’s climate, inclusivity is a must for every work environment. For Millennials and Zoomers, employee diversity is expected in their ideal workplaces. In fact, a Glassdoor survey showed that a diverse workforce is an essential consideration for 76% of employees and job-seekers . But diversity isn’t just about appealing to the younger generations. Inclusion and diversity can also benefit the business as a whole. By having a diverse workforce, you benefit from having unique perspectives throughout the entire work environment. You can get insights on: How to boost employee morale How to accomplish goals efficiently How to tackle a project Tips for Promoting Diversity in the Workplace To promote an inclusive environment, companies can take these steps to: Recalibrate the criteria for an “ideal” employee Build a diverse HR team Create inclusive job descriptions Encourage feedback Assess and examine company policy Through diversity, you not only attract potential hires but also improve the company overall. 3. Embrace Freelancers A 9-to-5 job isn’t as commonplace for many employees. Truth be told, 50% of Millennials in the workforce are freelancers. Add to that, 44% of Zoomers are independent contractors. The current generation of employees doesn’t share the same sentiments on work as the older generations. Work stability isn’t as crucial to the current generation of employees compared to flexible working conditions. To attract the brightest individuals to join your company, you need to consider other avenues aside from just hiring employees. Independent workers are a vital resource that companies should adopt, especially if you need short-term assistance before you fill a full-time role. Plus, working with freelancers comes with several benefits. Salaried employees can focus on essential tasks without being distracted by one-off projects. One-off projects can access highly skilled talents outside your workforce. Companies save money due to contractors not needing employee benefits, insurance, vacation leave, and retirement plans. But, your hiring strategy shouldn’t stop at freelancers. You can include additional hiring techniques as well. 4. Adopt Networking In a 2016 report filed by LinkedIn, companies hired 70% of employees through connections. Not to mention 80% of professionals consider networking vital to future success. Finding the best minds for your company can be easier said than done. It could be that a competitor has already hired your ideal employee, or they might be unaware of your job posting. Therefore, you should leverage your current talent pool for the recruitment process. You can potentially find the exact talent that your company requires through referrals. To start networking through your employees, you can employ the following steps: Incentivise networking through a reward program that recognises successful referrals. Employ social media by having your employees blog or post about their work experience. Invite team members into the recruitment and interview process. Update Your Hiring Process Companies must have a hiring process that respects their potential new hires. Because talent is in-demand across all industries, job-seekers can be more particular about what company to join. To stand out, you need to provide a stellar recruitment process to incentivise new hires. For instance, 75% of employees are more likely to stay with their current employer if they have a lucrative benefits package. So, it’s a wise idea to highlight your benefits package when posting job offers. To update your hiring process, you can take steps like: Update job descriptions that highlight benefits and future growth potential Create a simple application process Provide feedback to unsuccessful applicants By providing an exemplary hiring process, you can captivate the brightest talents. 5. Expand Your Talent Pool With Smart Strategies Having the perfect employee walk into an interview is just not going to happen by chance. Every company is looking for the best employees, so finding your ideal talent is easier said than done. So, you need to explore alternative strategies to get the cream of the crop. Newspaper ads and LinkedIn posts aren’t enough to get you the person you need. Instead, consider leveraging tactics like networking or promoting your diverse workplace initiatives to attract the best employees for your company. With tools like Marlin’s Executive Search, you can gain a competitive advantage over the opposition. Executive Search leverages Marlin’s extensive network of connections to help you find the best hires the first time. With these strategies, you can improve the likelihood of hiring outstanding talent. Need help hiring rockstar talent for years to come? Marlin Human Capital can help you find and manage your employees to their full potential. Get in touch with us today to start building your high-performance team.
The role of the technology leader has undergone significant changes over the past decade. In today's fast-paced and rapidly evolving business environment, technology leaders are expected to play a more strategic role in driving innovation and creating value for their organisations. For business transformation, in particular, the role of technology leaders has more profound implications. One of the key questions that arise when considering the appointment of a technology leader is whether they should focus on being a business process expert or a technology evangelist - does your organisation need a Chief Information Officer or a Chief Technology Officer? The answer to this question is not straightforward and depends on a range of factors, including the nature of the business, the type of business transformation required, the industry in which it operates, and the organisation's strategic goals. However, there is no doubt that CIOs and CTOs must possess a broad set of skills that go beyond technical expertise if they are to succeed in today's business environment. We explore how both roles influence and contribute to business success. Business Process Mastery: The CIO's Imperative Business Process Mastery is an essential skill for CIOs. Understanding the organisation's workflows and procedures enables CIOs to identify optimisation and improvement opportunities. By analysing business processes, they can pinpoint inefficiencies, redundancies, and areas where technology can streamline operations. CIOs who have this mastery can lead their companies towards process excellence and achieve organisational success. In addition to driving operational efficiency, being a business process expert allows CIOs to contribute to the overall strategic direction of the organisation. By working closely with other business leaders, they can identify areas where technology can create value and drive growth. According to a 2019 survey of global CIOs conducted by Deloitte , 57% of respondents stated that their primary focus was on business operations and process optimisation. This highlights the growing importance of the CIO as a business process expert who can drive operational efficiency and contribute to the overall success of the organisation. An example of a CIO who has successfully played the role of a business process expert is Rob Carter, the CIO of FedEx. Carter believes that the key to success as a CIO is understanding the business and how technology can be used to drive innovation and create value. Under his leadership, FedEx has transformed its IT systems and processes, leveraging new technologies to streamline operations and improve customer service. Technology Visionary: The CTO's Key Leadership Trait Whilst the ability to fully understand business processes is essential for any technology leader, today's CTOs must also possess more than just technical expertise, they must be technology evangelists who can promote the use of technology across the organisation. CTOs who are technology evangelists can identify new and innovative technologies that can be used to drive business growth and create value. By working closely with other business leaders, CTOs can identify areas where technology can be used to drive innovation and create new business models. They can also communicate the value of technology in a way that resonates with business leaders and helps them see how technology can enable their business processes and create value for the organisation. According to a 2019 Gartner survey, 60% of CTOs stated that they were focused on digital transformation and innovation. This highlights the growing importance of the CTO as a technology evangelist who can drive the adoption of new technologies and promote innovation within the organisation. Satya Nadella’s visionary and strategic approach transformed Microsoft's culture and strategy, moving the company from a focus on packaged software to a cloud-first, mobile-first strategy. Under his leadership, Microsoft has become a leading provider of cloud-based technologies and services, driving innovation and creating value for the organisation and its customers. The blurred lines between business and technology In today's digital era, the lines between business and technology are becoming increasingly blurred. Technology is no longer just an enabler of business processes, but a strategic driver of innovation, growth, and competitive advantage. Business leaders are now recognising the immense potential of technology to transform their organisations and create new opportunities. Conversely, technology leaders, including CTOs, realise that they cannot just focus on the technical aspects of their role but must also understand the broader business context. They need to align technology initiatives with the organisation's strategic goals and demonstrate the value of technology in driving business outcomes. This shift in mindset underscores the need for both business process experts and technology evangelists, as these roles are increasingly intertwined in today's digital world. The role of data in the modern CIO's toolkit One area where the lines between business and technology are blurring is in the realm of data. Data has become a critical asset for organisations, and its strategic management can drive significant business value. As data becomes more pervasive and organisations harness its power for decision-making, CIOs need to play a strategic role in data governance, management, and analytics. They need to understand how data flows through the organisation, how it is stored, analysed, and used, and how it can be leveraged to drive insights and inform business strategies. CIOs who are well-versed in data management can identify patterns, trends, and opportunities that can enable the organisation to make data-driven decisions and gain a competitive advantage. They can also ensure that the organisation is compliant with data regulations and protect the data from cybersecurity threats, as data breaches can have severe consequences for organisations, including financial losses and reputational damage. One CIO who has notably leveraged data as a strategic asset is DJ Patil, the former CIO of the United States during the Obama administration. Patil spearheaded the use of data analytics to drive insights and inform policies, resulting in significant improvements in government operations and services. His role as a data-driven leader showcases the importance of CIOs understanding and leveraging data to drive strategic outcomes for their organisations. The changing landscape of technology: Embracing innovation The landscape of technology is constantly evolving, and for CTOs, this reinforces the need to stay abreast of the latest trends and innovations to remain effective in their roles. Proactively identifying emerging technologies that can drive innovation and create value for their organisations is essential in gaining a competitive advantage. Technologies such as artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and blockchain are disrupting industries and transforming business models. Understanding the potential of these technologies to automate processes, enhance customer experiences, and uncover insights from vast amounts of data are vital in delivering transformational organisational change. CTOs who are well-versed in IoT can leverage connected devices to optimise supply chain operations, monitor equipment performance, and enable predictive maintenance. Similarly, the intelligent use of blockchain can enhance security, transparency, and trust in business processes. One example of a technology leader who has embraced innovation is Dr. Thomas Weber, the CIO of Lufthansa Cargo. Weber has been at the forefront of leveraging emerging technologies to transform the logistics industry. Under his leadership, Lufthansa Cargo has implemented technologies such as blockchain and IoT to optimise its supply chain operations, improve cargo tracking and enhance customer experiences. His proactive approach to embracing innovation points to the importance of being a technology evangelist and driving innovation in their organisations. It also points to the increasing cross-over of skills that today’s technology leaders must possess in order to drive innovation. Adapting to changing business processes: Agility and flexibility In today's fast-paced business environment, organisations need to be agile and adaptable to changing market dynamics. Business processes need to be constantly reviewed and optimised to stay competitive. This requires CIOs to be actively involved in understanding, analysing, and optimising business processes. CIOs need to collaborate with business leaders to identify pain points, bottlenecks, and inefficiencies in business processes and find technological solutions to address them. They need to have a deep understanding of the organisation's operations, workflows, and customer interactions to ensure that technology is integrated seamlessly into the business processes. A notable example of a CIO who has been successful in optimising business processes to aid rapid growth is Tim Campos, the former CIO of Facebook. Campos led initiatives to streamline internal processes, automate workflows, and improve collaboration across teams, enabling Facebook to scale its operations rapidly and efficiently. Balancing technology innovation with business outcomes While technology innovation is essential, technology leaders must also ensure that technology initiatives align with the organisation's strategic goals and drive measurable business outcomes. It is not enough for CTOs to be technology evangelists; they need to demonstrate the value of technology in creating tangible results for the organisation. CTOs need to have a deep understanding of the organisation's business objectives, competitive landscape, and customer needs to identify technology initiatives that can deliver value. They need to work closely with business leaders to define technology roadmaps, prioritise initiatives, allocate resources, and measure outcomes. One example of a technology leader who has effectively balanced technology innovation with business outcomes is Kim Hammonds, the former CIO of Deutsche Bank. As part of a strategic overhaul that included raising more than $8 billion of capital, partially listing its asset management arm and revamping parts of its business model in a bid to recover from legacy issues and billion-dollar dents in its balance sheet, Hammonds appointed Pascal Boillat as group chief information officer to spearhead its technology agenda, working with the bank's business divisions to modernise its IT infrastructure to reduce complexity and risk while enabling business growth. Her success in aligning technology initiatives with people and business outcomes showcases the importance of being both technology evangelists and business process experts. Building a strategic partnership with business leaders To effectively fulfil the roles of business process expert and technology evangelist, strong strategic partnerships with other business leaders are vital. Both CIOs and CTOs must collaborate closely with executives, department heads, and other stakeholders to understand their needs, challenges, and opportunities. Active participation in strategic discussions and contribution of their technical expertise to help shape the direction and priorities of the organisation, communicating the value of technology in driving business outcomes is critical in gaining buy-in from business leaders. Technology leaders need to constantly scan the business landscape, proactively identify opportunities where technology can create value for the organisation and engage with business leaders on how technology can drive innovation, efficiency, and growth. A successful example of a CIO who has built a strategic partnership with business leaders is Ursula Burns, the former CIO of Xerox. Burns worked closely with business leaders to drive digital transformation initiatives that resulted in new revenue streams, improved customer experiences, and increased operational efficiency . She transformed the company into a services provider focusing on three areas. One is business process outsourcing (BPO), the second is IT outsourcing (ITO), and the third is what She calls document outsourcing. Her ability to collaborate with business leaders, listen and understand customers' needs and align technology initiatives with business goals showcases the importance of CIOs being strategic partners in driving organisational success. As organisations continue to face unprecedented challenges and disruptions, the role of the Technology leader becomes even more critical in driving digital transformation and creating value. So CIOs need to have a strategic mindset, adapt to changing technologies, and foster a culture of innovation within their organisations. By embracing their role as both business process experts and technology evangelists, CIOs can lead their organisations to achieve sustainable business growth and success in the digital age. The answer to the question of whether an organisation needs a Chief Information Officer or a Chief Technology Officer remains subjective. Both roles are critical, but the emphasis may differ depending on your organisation's goals and priorities. As evidenced above, the roles of the CIO and the CTO have become increasingly integrated, and there has been a blurring of the lines between the two positions. While the CIO traditionally focused on managing an organisation's information systems and technology infrastructure, and the CTO was responsible for developing and implementing new technologies and driving innovation, today's technology leaders are required to excel in both areas. As a result of these changes, the roles of the CIO and the CTO have become more intertwined. There is a growing trend towards merging the two roles. Many organisations are now appointing individuals with a hybrid skill set that includes both business acumen and technical expertise to lead their technology functions. This ensures that technology is integrated into the company's overall strategy and that it is aligned with the organisation's business goals. Ultimately, the most effective technology leaders will be those who can balance both roles and seamlessly integrate technology into the organisation's business processes to drive business transformation.
Businesses are under pressure like never before to create positive social change. There’s an increasing expectation from consumers, employees, and other stakeholders for businesses to be purpose-driven and to make a positive difference in the world. However, many businesses struggle to achieve success when it comes to creating positive social change. In fact, nearly 98% of business sustainability initiatives fail often because they lack the right leadership. What is Positive Social Change? Positive social change can be defined as any purposeful effort to improve and transform behaviour, social relationships, and social structure to generate positive results for the well-being of individuals, communities, or society. For businesses, it means taking proactive measures and changes that generate value beyond legal compliance or a response to specific events. This means it goes beyond just the usual activities companies implement, like volunteering days or office waste reduction programs, but implements a holistic and sustainable approach to the entire business model. Some common examples of positive social change include: Improving access to education and healthcare Preserving the environment Advancing gender equality Promoting social inclusion and diversity Upholding employee welfare Leadership for positive social change Leadership is critical for businesses seeking to create positive social change. The right leaders can inspire employees and other stakeholders, drive innovation, and make tough decisions necessary to effect real change. Many different leadership styles can be effective in creating positive social change. However, the most important thing is that leaders take a holistic and long-term view of social change movements rather than thinking about isolated incidents or quick fixes. Some leadership qualities that are important for creating positive social change include: Strategic thinking The ability to inspire others Change management skills Strong communication skills Passion and commitment How Can Leaders Initiate Change and Achieve Success Here are 5 ways businesses can achieve success and create positive social change with the right leader: 1 - The right leaders have a clear visiMost successful businesses start with a clear vision for change. This means clearly understanding what needs to be changed and why it’s essential to make those changes. The right leaders also have the ability to communicate this vision to others in a way that inspires them to take action. They can rally people around a shared goal and get them excited about making a difference. For example, when Tim Cook took over Apple as CEO following Steve Jobs’s death, he started a major shift in the company. From being the biggest tech innovator, Cook led the company to invest in the environment, factory working conditions, the advancement of health measurements, and more. His vision for change within Apple resulted in the increase of Apple’s stock by 480% since he became CEO in 2011. 2 - The right leaders take action. The best leaders don’t just talk about change. They take action. They’re willing to experiment and try new things to create positive social change. They understand that sometimes initiatives fail, but they know that failures can be used as learning opportunities to help them improve their approach. The key is never to give up and always keep moving forward. For example, Nike faced criticism for its sweatshops in the 1990s because of allegations that its global supply chain involved poverty wages, human trafficking, and child labour. Nike could have chosen to ignore the problem and hoped it would disappear. Instead, under the leadership of then chairman and chief executive Phil Knight, Nike took action and implemented a series of reforms that improved working conditions in its factories. The ability to immediately take action and continued efforts to prevent the same issue from happening again made Nike one of the leading sports brands in the world. 3 - The right leaders are adaptable. The ability to adapt is another essential quality of successful leaders. This is because the world is constantly changing, and businesses need to be able to change with it. The best leaders constantly learn and try new ways to improve their approach. They’re also open to feedback and willing to make changes based on their learning. Netflix is an excellent example of a company that has adapted to the changing landscape of the entertainment industry. When it started in 1997, Netflix was a DVD rental service that opened through the mail. However, when streaming became popular, Reed Hastings, co-founder and CEO of Netflix, led the company to transition to online streaming. As a result, in 2021, the company had an operating profit of $5.1 billion —an 85% increase year-on-year. 4 - The right leaders are inclusive. Inclusive leaders understand that businesses need to reflect the diversity of the world around them. They’re working to create an environment where everyone feels welcome and included. This is essential because when people feel they belong, they’re more likely to be engaged and productive employees. According to Bernard Coleman III, head of Diversity & Inclusion for Uber, diversity may be achievable without inclusion but will not be sustainable . A lack of belongingness from employees adversely impacts the company’s bottom line. For example, L’Oreal is a company that has been working to become more inclusive since the early 2000s. They intend to have a workforce of people coming from every culture, background, and lifestyle. L’Oreal focused on recruiting and retaining a more diverse workforce to achieve this. As of 2021, 69% of L’Oreal’s total workforce are women , with 47% holding key strategic positions. Plus, they directly hired 1,509 employees with disabilities and have 45 full-time employees via their suppliers who are certified LGBTQIA+-owned companies in the USA. This approach resulted in increased employee satisfaction and engagement, helping L’Oreal continue to grow as a business. 5 - The right leaders value their employees. The best leaders understand that their employees are their most important asset. They know that happy and engaged employees lead to a more successful business. That's why they strive to create an environment where employees feel valued and appreciated. Also, they offer competitive salaries and benefits and opportunities for professional development. According to Gallup research, companies with highly engaged employees have 21% greater profitability . So, having a leader that realises the importance of employee experience and that doing so benefits the staff and helps the company grow bigger and faster. Campbell's Soup is an excellent example of this. In 2000, the soup company lost over half its market value and rock-bottom employee engagement scores. So, in 2001 when Doug Conant took over the CEO role, he prioritised employee experience by listening to them and creating a positive culture at work. By 2009, the company achieved a staggering 23:1 engaged-to-disengaged employee ratio . In the same decade, Campbell's Soup stock increased by 30%, while other S&P 500 stocks lost 10% of their value. Right Leaders Can Drive Significant Social Change Businesses want to achieve positive social change because it promotes better work environments and profits. Like the companies we mentioned, having the right leaders who can drive change and innovation within their organisation saw better gains and employee engagement. So, to achieve positive social change within your company and the world, you must have leaders who can influence and implement necessary adjustments. When choosing a leader, it's essential to consider their values and how they align with the company's mission. Remember: The best leaders are adaptable, inclusive, and value their employees. Do you have the right leader who can help your company create a positive social change? Marlin Human Capital can help in looking for the right talent to lead your journey towards creating a positive impact. We broker pioneering executive and technology leadership appointments for organisations like your own. Get in touch with us today!
Data has always been an essential element in business strategy, but as we move into 2023, it's time for companies to recognise that data should be at the very centre of their transformation strategy.  In the context of business transformation, it's essential for companies to embrace digital Darwinism and actively seek out new ways to use technology and data to their advantage. This may involve developing new business models, creating digital products and services, or using data analytics to optimise operations and improve customer experience. With the explosion of digital data and the rise of technologies such as artificial intelligence (AI) and machine learning (ML), organisations need to place a greater emphasis on data to remain competitive. Despite the obvious advantages, some still argue that other factors should take precedence over data when it comes to business transformation. In this article, we'll explore why data should be at the heart of any business transformation strategy in 2023, and examine some of the opposing viewpoints. One of the primary reasons why data should be at the centre of business transformation strategy is that it allows organisations to make informed decisions. With the right data and analytical tools, companies can gain valuable insights into their customers, their operations, and their market position. This can help them identify new opportunities, optimise their processes, and develop more effective marketing strategies. For example, global retailer Walmart is using data to transform its business. The company has invested heavily in AI and ML technologies to analyse customer data and improve its supply chain operations. This has allowed Walmart to optimise its inventory management, reduce waste, and improve customer satisfaction. In addition, the company has used data to personalise its marketing campaigns and create a more engaging customer experience. Of course, not everyone believes that data should be the main focus of business transformation. It stands to reason that factors such as customer experience, employee engagement, and innovation should take priority. While these are all important factors, it's important to recognize that data can play a critical role in improving all of them. When it comes to CX, data can be used to improve the customer experience by providing insights into customer preferences and behaviours. Creating highly personalised experiences that better meet their customers' needs in the face of rapidly shifting expectations would be incredibly challenging without leveraging the insights from data. Similarly, data can be used to identify areas where employees are struggling or where training is needed, leading to improved employee engagement and retention. Equally, data can be used to drive innovation by identifying new market opportunities and developing new products and services. It stands to reason that data provides companies with the opportunity to gain a competitive edge. In today's fast-paced business environment, companies that are slow to adapt to new technologies and changing market conditions risk being left behind. By leveraging data, companies can gain a deeper understanding of their competitors, anticipate market trends, and develop strategies to stay ahead of the competition. For example, insurance companies are using data to transform their businesses by leveraging predictive analytics to identify fraud, reduce risk, and improve customer service. By analysing large amounts of data, insurers can identify patterns and anomalies that indicate fraudulent activity, enabling them to take action before claims are paid out. In addition, insurers are using data to create personalised policies that better meet their customer's needs and to develop new products and services that address emerging market trends. Despite the clear benefits of using data to drive business transformation, without a solid strategy that builds data into the core of business transformation initiatives, it can easily become too complex and difficult to manage, leading to a focus on short-term gains at the expense of long-term value. Companies that invest in the right data management tools and processes can gain valuable insights into their operations and customers, and make more informed decisions about how to allocate resources and pursue new opportunities. Moreover, data can actually help companies achieve long-term value by identifying areas where they can reduce costs, improve efficiencies, and create new revenue streams. It's critical for organisations to recognise the benefits that data can provide and to invest in the right tools and processes to manage it effectively. By leveraging data, companies can make strategic investments in areas that will drive sustainable growth and value creation over the long term. Simply collecting data is not enough. The real power is in the ability to analyse and interpret the data in order to derive meaningful insights. This requires a combination of advanced analytical tools, skilled data scientists, and a company culture that values data-driven decision-making. An excellent example of a company that has embraced digital Darwinism is Netflix. The streaming giant was able to disrupt the traditional television and movie rental industry by successfully integrating data and technology into its business transformation strategy to create a new business model. By analysing user data and developing algorithms to personalise content recommendations, Netflix was able to create a product that was both more convenient and more enjoyable than traditional video rental stores. This, in turn, allowed the company to grow rapidly and become a dominant player in the entertainment industry. Another example is Amazon, which has built its business on the foundation of data. By analysing customer data, Amazon is able to make personalised product recommendations, optimise its supply chain operations, and improve its customer service. This has enabled the company to become one of the largest retailers in the world, with a market capitalisation of over $1 trillion. In addition to these success stories, there are also cautionary tales of companies that have failed to leverage data effectively. One obvious example is Blockbuster, Netflix’s main competitor and once a dominant player in the video rental industry. The company failed to recognise the importance of data and was slow to adapt to new technologies such as streaming. As a result, Blockbuster eventually went bankrupt and was acquired by Dish Network. Companies that recognise the value of putting data at the core of the business transformation strategy and invest in the right tools and processes to manage it effectively will be well-positioned to succeed in today's fast-paced business environment. By leveraging data, companies can make informed decisions, improve customer experience, stay competitive, and achieve long-term value creation.
In a rapidly digitising world, companies are coming to grips with the imperative to move their business online. However, to successfully compete in the digital space, businesses need to understand how they can use technology as a force for good. When done right, technology can help: Create sustainable and ethical practices across your value chain Build trust and loyalty with your customers Enable new business models that better serve society Empower employees to work more efficiently and effectively However, when done wrong, technology can do the opposite: exacerbating inequality, harming the environment, and violating people’s privacy. It’s crucial for CEOs and boards to take a proactive role in setting their company’s digital strategy to ensure a positive impact. They need to think about how they can use technology to create value for all their stakeholdersーnot just shareholders. And they need to build the right team with the right skills and values to execute the strategy. Here’s how your company can do it. Digital Transformation The digital era requires businesses to move away from slow, manual processes and propel toward automation driven by software and data. This can help reduce environmental impact, speed decision-making, and allow businesses to serve customers better. But the initiative and leadership must start with the CEO. What should CEOs and boards do to reimagine their business in the digital era? How can they achieve digital transformation in an equitable, sustainable way? What mindset should they have, and what concrete approaches should they implement across their organisations, supply chains, and communities? The answer lies in taking a holistic view of technology’s impact on people, the planet, and profitーand using this perspective to drive decisions about how to best harness its power. Here are seven ways companies can use technology as a force for good: 1. Improve business efficiency Companies can use technology to improve business efficiency. For example, many companies are using data analytics to improve their decision-making. Data analytics is a process of analysing data to find trends and patterns. The information enables companies to make better decisions about where to allocate resources and how to operate more efficiently. In addition, technology can be used to automate tasks that are time-consuming or difficult to do manually. For example, many companies use robotic process automation (RPA) like Amazon to automate repetitive tasks such as data entry and invoice processing. As a result, RPA can help businesses reduce costs and improve efficiency. 2. Create sustainable practices across your value chain Companies can also use technology to protect the environment. For example, Google Street View cars have sensors that measure air pollution levels. The data collected by the sensors is then used to create maps that show where air pollution is worst. This information can help people avoid areas with high levels of air pollution. In fighting climate change, you can use technology to develop new clean energy sources. For example, Tesla offers solar roofs to power homes with fully integrated solar and energy storage systems. Solar energy is a renewable resource that does not produce greenhouse gases, making it a sustainable option for generating electricity. Another example is the retail chain Marks & Spencer , which uses RFID tags to track clothing items throughout its supply chain. This helps the company reduce waste and ensures that clothes are only produced when customers demand them. 3. Generate new revenue streams You can also use technology solutions to generate new revenue streams. For example, many companies are using subscription models to sell access to their products and services. Like Netflix , which charges a monthly fee for access to its library of movies and TV shows. This model has been successful for many companies as it provides a recurring revenue stream. In addition, technology can be used to spur innovation and create new products and services. For example, Snapchat allows users to share photos and videos that disappear after a certain amount of time. This unique feature helped Snapchat become one of the most popular social media platforms. So, you can use technology to promote better connections among people while also creating profit. 4. Improve communication and collaboration You can leverage the role of technology to improve communication and collaboration within your organisation. For example, many companies are using video conferencing to hold meetings without having to travel. They use video conferencing to connect people in different locations so they can see and hear each other in real-time. You can also take advantage of technology to create virtual work environments to promote inclusive workforce. For example, the cloud-based project management tool Asana allows teams to share files, assign tasks, and track progress. This helps teams stay organised and ensures everyone is on the same page. 5. Enhance customer experience Technology can also be a tool to elevate the customer experience. For example, many companies use Augmented Reality (AR) to provide enhanced customer experiences. A company that uses AR is IKEA, which has an app that allows users to see how furniture would look in their homes before buying it. This will enable customers to make more informed decisions about their purchases. You can also use technology to personalise the customer experience. For example, Amazon does it through their recommendation engine that uses data from a customer’s past purchases and browsing behaviour to make product recommendations. This helps customers find products they like and helps Amazon sell more products. 6. Fight poverty and inequality There are many ways that companies can use technology to fight poverty and inequality. For example, mobile money transfer services like M-Pesa have helped people in developing countries access financial services that were previously out of reach. In Kenya, where M-Pesa was first introduced, the service helped reduce poverty by allowing people who have access to mobile phones but do not have or have limited access to a bank account to save and borrow money. To fight inequality, companies can use technology to connect people with opportunities. For example, the social networking site LinkedIn allows users to find job opportunities and connect with potential employers. This has helped reduce inequality by providing people from all backgrounds with access to job opportunities. 7. Promote education and healthcare Technology is also a tool that companies can embrace to promote education and healthcare in their communities. For example, Khan Academy is a free online education platform that offers courses in subjects ranging from maths and science to history and art. The Khan Academy has helped millions of people worldwide access the education they would otherwise not have had. In India, the Akshaya Patra Foundation uses technology to provide hot meals to schoolchildren from low-income families. They can cook and deliver fresh meals to over 1.3 million impoverished children daily through their fully automated kitchens that can prepare 185,000 meals in less than 5 hours. By leveraging technology, the foundation feeds India’s hungry children daily. Use Technology to Advance Your Business and Community Companies can use technology for various purposes, such as improving business efficiency, enhancing customer experiences, generating new revenue streams, and improving communication and collaboration. So, take advantage of this opportunity to advance your business while also boosting your community. But remember that you have to be accountable for the potential impact of using technology, so it’s important that you ensure it’s used ethically and humanely. All of these are possible with the leadership of a great CEOーwhich is where you come in. Do you have the right people to lead and implement technology in your company? Marlin Human Capital can equip you with the right talents for the job. We broker pioneering executive and technology leadership appointments for organisations like yours. Get in touch with our team today to access talent that can help you start using technology as a force for good.
The business world is constantly evolving, and companies that are unable to adapt quickly to changes risk falling behind their competitors. However, despite recognizing the importance of adapting to change, many companies still struggle to do so effectively. This creates what has been referred to as a "transformation divide" between executives and employees, which can impact project success and alienate talent. What is the “transformation divide”? The lens through which employees and executives view their organisation is not often the same. Executives and employees often have different perspectives when it comes to business change, which can lead to misunderstandings and difficulties in implementing change or transformation effectively. The "transformation divide" is a concept that refers to the difference between how executives and employees view their organisation's ability to manage change. This divide can have a significant impact on the success of business transformation initiatives, as well as the ability of the organisation to retain and attract top talent. Executives often have more experience in managing change at a strategic level and view the organisation's ability to manage change through a strategic lens, focused on the big picture and long-term goals. This future state thinking often paints a picture of the organisation as agile and flexible, able to quickly adapt to changing market conditions and new opportunities. However, employees may view the organisation's ability to manage change through a more operational lens, focused on the day-to-day challenges of implementing change within their specific roles and functions. This divide can lead to a lack of alignment between executives and employees, making it difficult to implement change effectively. Traditional hierarchies tend to revolve around this narrative of broad, holistic and strategic perspectives at the top and focused (at times siloed) views lower down the hierarchy creating naturally divergent perspectives on the organisation, making it difficult to align vision with action. This lack of agility is one of the main reasons why companies struggle to adapt to change. Many businesses are built on these hierarchical structures that are resistant to change. Executives often have a vision for where they want the company to go, but they struggle to translate that vision into action because they are constrained by the company's existing culture, processes, and systems. This can create a sense of inertia, making it difficult to introduce new ideas and implement change. This is especially true when executives develop transformation strategies that are not aligned with the needs and concerns of employees, leading to resistance and a lack of buy-in. Employees, in turn, may feel disengaged from the transformation process, leading to lower morale and decreased productivity. At its core, the “transformation divide” can be attributed to a lack of communication and collaboration. Executives may have a clear vision for change, but if they don't communicate that vision effectively to employees, it inevitably leads to a lack of alignment and divergent views of business transformation resulting in confusion and resistance. Top-down approaches to change that fail to take into account the views and opinions of employees who are closest to the day-to-day operations of the business can lead to a sense of disengagement and a lack of ownership among employees, who don't understand why changes are being made or who feel that their concerns are not being heard. This makes them less likely to support the transformation process, which can impact the success of transformation projects. How divergent views of transformation can lead to failure Transformation refers to a fundamental change in an organisation's strategy, structure, culture, and operations to adapt to new challenges or opportunities. However, as we touched on earlier, divergent views of transformation can lead to failure if there is no alignment between different stakeholders' expectations and goals. To avoid the transformation divide, executives need to take a more bottom-up approach to change, soliciting feedback from employees and involving them in the transformation process. They also need to invest in the resources needed to implement change effectively, including new technologies, processes, and training. Establishing a PMO (Project Management Office) and investing in the necessary talent, expertise and resources is critical to the success of business transformation efforts. Without the proper structures and resources in place, divergent views can quickly lead to transformation failure in the following ways: Lack of Clarity: If there is no clear understanding of what transformation means for the organisation, different stakeholders may have different interpretations, leading to confusion, resistance, and misalignment. Resistance: Divergent views on transformation can create resistance from stakeholders who may not agree with the proposed changes. This can manifest as a lack of buy-in, non-compliance, or even active opposition, making it challenging to implement the transformation successfully. Lack of Resources: Transformation often requires significant investments in time, money, and other resources. If different stakeholders have different views on the importance of the transformation, it may lead to insufficient allocation of resources, leading to a lack of progress or even failure. Misalignment of Goals: Transformation requires a shared vision of the desired outcomes, but divergent views can lead to the misalignment of goals. For example, if one group of stakeholders sees transformation as an opportunity to cut costs, while another sees it as a way to increase revenue, it may lead to conflicting priorities and ultimately failure. Lack of Coordination: Transformation involves multiple stakeholders, and divergent views can create a lack of coordination between different teams, departments, or functions. This can lead to duplicative efforts, conflicting strategies, and a lack of progress. Therefore, it is essential organisations have structured channels through which to align different stakeholders' views and goals before embarking on a transformation journey. This can involve clear communication, shared understanding, and active engagement of all relevant parties. It's also critical to establish a clear plan of action with well-defined objectives, timelines, and resource allocations to ensure that everyone is working towards the same end goal. The importance of transformation in modern business The pace of change in the business world is accelerating, driven by technological advancements, globalisation, and changing customer expectations. Businesses that fail to adapt to these changes risk falling behind their competitors. The COVID-19 pandemic highlighted the importance of agility and the role of business transformation in helping organisations innovate and develop new products, services, and business models to cater to rapidly evolving customer needs, helping them stay ahead of the competition. More recently, increased risk from a notable uptick in large-scale cyber-attacks is forcing organisations to better manage risk by identifying potential threats and developing strategies to mitigate them through technological and business transformation programs focused on improved cyber security and regulatory compliance. Far from being a competitive tool, business transformation is critical to the survival of businesses operating in a rapidly evolving economic and technologically-driven environment. So how can business leaders address the transformation divide? Bridging the gap To overcome the transformation divide, it's important for executives to recognise the need to communicate effectively with employees and involve them in the planning and decision-making process around business transformation initiatives. This can help ensure that employees have a stake in the success of the change and are more likely to be supportive and engaged. By bridging the transformation divide, organisations can increase their chances of success and create a more dynamic and agile work environment that is attractive to top talent. Business leaders must understand how their perspective on business transformation differs from that of employees and adapt their communication and collaboration strategies accordingly. In doing so, business leaders should acknowledge the following: Different priorities: Executives may have a broader perspective on the company's overall priorities, while employees may be more focused on their individual goals and objectives. This can lead to differences in how executives and employees view the importance and urgency of business change. Different access to information: Executives may have access to more information about the company's financial performance, market trends, and competitive landscape, which can influence their perspective on the need for business change. Employees may have a more limited view of the company's overall performance and may not fully understand the need for change. Different incentives: Executives may be incentivised based on the company's overall financial performance or the success of specific initiatives, while employees may be incentivised based on individual performance metrics. This can lead to differences in how executives and employees view the potential benefits and risks of business change. Different levels of involvement: Executives may be more involved in the planning and decision-making process around business change, while employees may be more involved in the implementation of the change. This can lead to differences in how executives and employees view the feasibility and impact of the change. The transformation divide continues to be a major challenge and barrier to business transformation success. As many organisations look to business transformation as a way to identify inefficiencies and streamline processes, leading to increased efficiency and productivity, without first proactively taking steps to address the transformation divide, it becomes increasingly unlikely for organisations to achieve cost savings, improved profitability, and a better customer experience. According to recent research, 50% of employees think their organisation is mediocre or worse in providing clear leadership, keeping employees informed of change, addressing questions, asking for feedback, helping employees understand the impact of planned changes and providing training resources and support. In contrast, 70% of C-suite Executives say their organisations do extremely well or pretty well in these areas. 38% of the rest of the organisation agrees. By prioritising communication, collaboration, and investment in resources, companies can overcome this divide and adapt to change more effectively. Doing so will not only help ensure the success of transformation projects but also attract and retain top talent in a rapidly changing business landscape. One example of divergent views of transformation leading to failure is the case of Kodak, a company that once dominated the photography industry but failed to adapt to the digital revolution. In the early 2000s, Kodak had a diverse range of businesses, including traditional film photography, digital cameras, and inkjet printers. However, the company's leadership had divergent views on the future of the industry and the company's transformation. Some executives believed that digital photography would ultimately replace film photography and that Kodak should focus on developing digital cameras and other digital products. Others, including the CEO at the time, believed that digital photography would not replace traditional film and that Kodak should continue to invest in film photography and related products. As a result of these divergent views, Kodak's efforts to transform the company were not focused, strategic, or successful. The company invested heavily in digital cameras, printers, and related products, but failed to make a significant impact in these markets. At the same time, Kodak neglected to invest in digital imaging technology and missed out on opportunities to develop and market digital cameras and other digital products. Ultimately, Kodak's failure to adapt to the digital revolution led to the company's decline and bankruptcy in 2012. The company's leadership had divergent views on the future of the industry and the company's transformation, leading to a lack of strategic focus, misallocation of resources, and ultimately failure to adapt to changing market dynamics. The Kodak case demonstrates the importance of having a shared vision and alignment of goals and strategies when embarking on business transformation. Without a clear understanding of the direction and purpose of the transformation, companies may struggle to adapt to changing market dynamics and may ultimately fail to survive.  The importance of a shared vision A shared vision is essential for business transformation because it provides a common understanding and direction for all stakeholders involved in the transformation. Business transformation typically involves significant changes to an organisation's strategy, processes, culture, and technology. Without a shared vision, different stakeholders may have different interpretations of what the transformation entails, leading to confusion, conflict, and ultimately failure. By working to establish a company-wide, shared vision of current and future business transformation programs, technology leaders can align all stakeholders around a common purpose, direction, and set of goals. It ensures that everyone involved in the transformation understands the big picture, their role in achieving the transformation, and the benefits of doing so. Establishing a shared vision also creates a sense of ownership, belonging, and purpose among stakeholders, leading to increased motivation and engagement. When people understand the value of the transformation and feel that they are part of the journey, they are more likely to commit to it and work towards its success. Without a framework for decision-making that a shared vision helps facilitate during the transformation, it can be challenging for stakeholders to make consistent, informed, and strategic decisions that align with the overall objectives of the transformation. This enables effective communication. When everyone is working towards a common goal, communication is more streamlined, focused, and productive. It also ensures that everyone has access to the same information and understands how their work contributes to the overall transformation. Having a shared vision increases the likelihood of success for the transformation. It provides clarity, focus, and direction, and ensures that all stakeholders are pulling in the same direction. It reduces the likely hood of a “transformational divide” by limiting the potential for divergent thinking and helps to mitigate risks, resolve conflicts, and address challenges that may arise during the transformation. Marlin Human Capital secures the very best executive and IT Project Services talent for organisations seeking to gain a competitive advantage through transformative technology initiatives. Get in touch with us today to start your journey.
Business transformation and process automation have become an everyday topic of conversation in even the smallest organisations. But one buzzword piercing through all the noise more than any other is ChatGPT. ChatBots aren't new—in fact, they've been around for decades. The first chatbot was developed in 1966. Since then, technology has made a lot of progress. So much so, that we decided to test the potential of this technology by using ChatGPT to write this blog post. What is ChatGPT? ChatGPT was created by OpenAI, an AI and research company. The company launched ChatGPT on Nov. 30, 2022. Within its first five days after launching ChatGPT had more than 1 million users. How does ChatGPT work? ChatGPT runs on an artificial intelligence language model architecture, created by OpenAI called the Generative Pre-trained Transformer (GPT), specifically GPT-3. These types of artificial intelligence models are trained on vast amounts of information from the internet and learn to generate sentences based on the information available online, such as websites, books, news articles and more. What makes ChatGPT unique is that it uses a combination of supervised learning and reinforcement learning. The use of Reinforcement Learning from Human Feedback (RLHF) makes it possible for ChatGPT to learn from human feedback. Through RLHF, human AI trainers provided the model with conversations in which human users played both parts--the user and the assistant--according to OpenAI. How are organisations using ChatGPT? With the rise of Artificial Intelligence, ChatBots have been used to help businesses reach out to their customers, provide information about products, and even sell products directly from their website. Digital disruption is reshaping industries and creating new opportunities for businesses that can leverage technology to create innovative products and services. Increasingly, digital transformation has become the battleground upon which organisations seek to stay competitive in today's rapidly changing business environment. In the new digital era, customers have higher expectations when it comes to digital experiences, and businesses that fail to deliver can quickly fall behind. Digital transformation allows businesses to meet customer expectations by providing seamless, convenient, and personalised experiences across all channels. ChatGPT bridges the gap between internal human resources and external artificial intelligence, enriching human capabilities. It is the bringing together of 2 vastly different elements to form an entirely new kind of interaction. By combining humans and artificial intelligence this way, ChatGPT empowers organisations with a new way of doing business. The ability to streamline operations, automate processes, and improve collaboration are key differentiators in the digital arena. ChatGPT is a powerful tool that demonstrates the potential to help organisations increase efficiency, agility, and responsiveness, enabling them to adapt quickly to changing customer expectations, and market conditions, staying ahead of the competition. Here are some of the ways in which ChatGPT can be used to transform business: Customer service: One way that organisations are using ChatGPT is by building chatbots powered by the language model. These chatbots can help automate customer service and support, answering customer queries, and providing assistance around the clock. Chatbots can also be used to streamline internal processes, such as employee onboarding and training. Marketing: ChatGPT can provide personalised marketing experiences to each user by analysing their interests, preferences, and past behaviour. Since it’s available 24/7, providing assistance and answering questions even when businesses are closed offers organisations the ability to enhance the customer experience and satisfaction globally across all time zones. Not only that, ChatGPT can collect and analyse data on customer interactions, which can help businesses better understand customer behaviour and preferences, thereby optimising marketing strategies accordingly. Lastly, ChatGPT can help marketing teams generate leads by engaging with users and qualifying them based on their interests and needs. These activities can reduce the need for human interaction, reducing marketing costs by automating repetitive tasks. Decision Support: ChatGPT can also be used to support decision-making in organisations. ChatGPT can generate complex query strings to aid data mining, helping users find key data points quickly and effortlessly. By analysing data and providing insights and recommendations, the language model can help staff and even business leaders make better-informed decisions. For example, ChatGPT could be used to analyse customer feedback data and suggest improvements to product or service offerings. Personalisation: ChatGPT can also be used to provide personalised experiences to customers. By analysing customer data and interactions, ChatGPT can provide tailored recommendations and suggestions. This can help improve customer satisfaction and increase sales. Knowledge Management: ChatGPT can also be used as a knowledge management tool. Organisations can use the language model to automatically categorise and tag documents and other content, making it easier to find and access information. ChatGPT can also be used to answer employee queries, providing quick and accurate responses to common questions. For example, as part of the change management process, ChatGPT can be used to provide training to employees by answering questions and providing guidance on new or updated company policies and procedures. In a traditional enterprise, where knowledge workers often can’t easily locate the latest data from within their own line of business, Chat GPT could be useful in helping to break down data barriers between organisational silos, yet this remains one of AI’s greatest challenges. Product development: ChatGPT can also help organisations improve product development by providing insights into customer needs and preferences. This can help organisations develop more innovative and customer-centric products. Is ChatGPT a good thing for business transformation? As an AI language model, ChatGPT doesn't have a moral compass. As a tool created to assist people in various ways automating repetitive tasks and providing information its impact is largely down to the way in which it is used and how people choose to interact with it. Like all emerging or transformative technologies, it is almost impossible to predict where the AI revolution will lead. This should not stop organisations from considering the possibilities of how they can leverage AI tools such as ChatGPT. Digital transformation is critical for businesses that want to remain competitive and relevant in today's digital age. It enables businesses to meet changing customer expectations, improve efficiency and agility, make data-driven decisions, and drive innovation and disruption. ChatGPT is an advanced chatbot that has the potential to make people's lives easier and to assist with everyday tedious tasks, such as writing an email or having to navigate the web for answers. However, there are certain technical details that have to be figured out before it's widely used, to prevent negative outcomes such as the spread of misinformation. In general, AI and ML models rely on lots of training and fine-tuning to reach a level of ideal performance.
As we look towards the future, it's clear that technology will continue to play an increasingly important role in our lives. This is particularly true for digital and business transformations, which are often seen as technical challenges, requiring a deep understanding of technology and data. However, they also represent significant cultural shifts, which can be disruptive and challenging for employees and stakeholders. But amidst all of these changes, there's one thing that will remain just as important as ever: human connection. Despite the many benefits that technology can offer us, there's no denying that it can sometimes be isolating. We're all familiar with the experience of spending hours staring at a screen and communicating with colleagues and clients through email or instant messaging. And while video calls and collaboration platforms like Slack or Microsoft Teams have helped us stay connected during the pandemic, they don't fully replicate the experience of being in the same physical space as others. In fact, recent studies have shown that remote workers can experience feelings of loneliness and disconnection, which can lead to decreased productivity and even mental health issues. And while it's certainly true that technology can help bridge the gap between people who are physically separated, it's not a perfect substitute for the kind of human connection that comes naturally when we're in the same room together. In these contexts, human connection becomes especially important for several reasons. So why is human connection so important, especially in the world of digital transformation? Let's take a closer look at some of the reasons why. Change Management First of all, it's worth noting that IT is a highly collaborative field. Whether you're developing software, managing a network, or providing tech support to end-users, you're likely working closely with a team of colleagues to achieve your goals. And while technology can certainly facilitate that collaboration, it can't replace the trust and rapport that come from spending time together in person. Human connection is essential when collaborating for impact in business transformation initiatives because it enables individuals to work together towards a common goal with greater efficiency, creativity, and effectiveness. When people feel connected, they are more likely to share their thoughts, ideas, and concerns openly and honestly, which leads to better collaboration and problem-solving. This is particularly important in business transformation initiatives, where different perspectives and skills are required to navigate complex challenges. Successful business transformation is dependent on significant buy-in and participation from employees across the organisation. A critical component of any transformation effort is Change Management, and without the support of the people who will be affected by the changes, these initiatives are unlikely to succeed. Human connection plays a vital role in this process. When you're working alongside others in the same physical space, you're more likely to build a sense of camaraderie and mutual understanding. You might share jokes or stories during breaks, or collaborate more effectively on projects because you have a better sense of each other's strengths and weaknesses. All of these factors contribute to a sense of teamwork and shared purpose that can be hard to replicate online. By prioritising human connection, IT leaders and managers can help to build trust and rapport with employees, creating an environment in which people feel comfortable sharing their concerns, ideas, and feedback. This can help to create a sense of ownership and investment in the transformation process, leading to more meaningful and sustained change. But it's not just about collaboration and productivity. Human connection is also important for personal well-being. As social creatures, we need interaction and connection with others in order to thrive. When we're feeling isolated or disconnected, it can lead to negative emotions like anxiety, depression, and even physical health issues. That's why it's so important for IT professionals to prioritise human connection, both within their teams and with others in their professional network. By taking the time to connect with colleagues and industry peers, whether through social events, mentorship programs, or online communities, you can build relationships that will support you both professionally and personally. Of course, it's not always easy to prioritise human connection in a world where technology dominates so much of our work and personal lives. But there are some steps that individuals and organisations can take to make it a priority. For example, companies can prioritise team-building events that bring remote and in-person workers together, or encourage socialising and connection during work hours. Individuals can make a point of attending industry events, joining online communities, or even just taking breaks during the workday to chat with colleagues. Collaboration for Impact Second, transformation initiatives often involve significant process and workflow changes, which can be disruptive to employees' daily routines. In these situations, human connection can help to mitigate the disruption and ease the transition. For example, by providing regular training and support, leaders can help employees to build the skills and knowledge necessary to adapt to the new workflows. By actively encouraging collaboration, and communicating clearly and transparently about the changes, IT leaders and Change Managers can help to reduce anxiety and uncertainty and create a sense of shared purpose and understanding. In these contexts, human connection can help to break down silos and build bridges between different teams and stakeholders. By creating opportunities for employees to connect and collaborate, whether through team-building exercises, cross-functional projects, or informal social events, leaders can help to create a culture of collaboration and cooperation. This can lead to more effective and efficient work processes, as well as more innovative and creative problem-solving. It is worth noting that the future of work is likely to be more flexible and remote than ever before. As companies adapt to changing market conditions and worker preferences, we're likely to see more and more IT professionals working from home or from co-working spaces. While this can certainly offer many benefits, it also presents new challenges when it comes to building human connections. That's why it's important to be intentional about connecting with others, whether through virtual events, video calls, or other online tools. Community First Finally, transformation initiatives often involve significant risk and uncertainty, as organisations navigate new technologies, business models, and customer needs. Human connection can help employees build resilience and adaptability so that they are able to weather setbacks during these initiatives. Ultimately, the key message is this: community is king. While technology can certainly help us stay connected and productive, it's not a substitute for the kind of community that comes from being in the same physical space as others. Whether you're working in IT or any other field, the relationships and connections you build with others are crucial for your professional success and personal well-being. So, as we move forward into 2023 and beyond, let's make a commitment to prioritise human connection in all aspects of our lives. Let's find ways to connect with others, even when we're physically apart, and let's make sure that we're building communities that support us both professionally and personally. By doing so, we can ensure that technology continues to serve as a tool for connection and collaboration, rather than a barrier to human connection. After all, in a world that's becoming increasingly digitised and automated, it's the human connections we make that truly set us apart. DO YOU HAVE THE RIGHT TECHNOLOGY PROFESSIONALS TO MEET YOUR BUSINESS OUTCOMES? Marlin Human Capital has the expertise and networks to assist you in identifying the best candidates to drive your technology initiative towards creating a positive impact. We broker pioneering executive and IT Project Services appointments for organisations like yours. Get in touch with us today to start your journey.
Cloud computing has revolutionised the way organisations in Australia operate by replacing traditional data centres with cloud-based services. The cloud allows organisations a range of benefits such as agility, flexibility, self-service provisioning, redundancy, scalability, and more. All of which can make a significant difference for many Australian enterprises by helping them achieve operational efficiency and optimised resource utilisation. In fact, Gartner predicts that by 2025, IT spending on public cloud computing will overtake spending on traditional IT. It added that 65.9% of spending on application software will be directed toward cloud technologies, up from 57.7% in 2022. For forward-thinking CIOs, cloud technologies are the future. Cloud migration is an opportunity for organisations to develop and implement a future-forward plan, but it can be a complex process. Management, technology and staff realignment are all factors that need to be considered when migrating to the cloud. Many factors influence the success of cloud migration projects, including security risks and people, process and technology alignment. However, the misconceptions, myths and biases that creep into the boardroom from the media, analysts and vendors who certainly shape our perceptions about what it takes to move to the cloud are a particularly potent determinant of whether or not a migration succeeds. Myths such as; everything can be migrated to the cloud, or that their security concerns will be taken care of by their cloud provider and that cloud migration is a fast process with a one-size-fits-all “multi-cloud” model for different types of organisations can undermine the decision-making process. This creates challenges for CIOs, especially when selecting a cloud environment and management platform, which can lead to implications down the track where organisations find themselves trying shoe-horn enterprise-wide cloud adoption to fit broader or shifting needs. Cloud migrations can encounter the same issues as any other project, including risks that must be considered before starting a cloud migration. The impact of these mistakes may override the benefits offered by cloud migration. A cloud migration survey by Sungard Availability Services noted that 56% (of respondents) named a lack of understanding of cloud security and compliance best practices as a major challenge. About 55% acknowledged the lack of a clearly defined business case for the migration while 44% pleaded guilty to insufficient planning. Here are some common pitfalls to avoid: Insufficient Leadership Alignment Achieving leadership alignment in cloud migration is a critical success factor for any organisation wanting to make the transition to the cloud. A recent Accenture survey of IT leaders identified three key barriers to cloud migration: lack of executive support, lack of resources and time, and lack of knowledge about what is involved in cloud migration. It is important for an organisation’s leaders to understand these barriers and work together with their teams on a plan that addresses each issue. CIOs need to ensure they provide the board with critical insights, facts and data so it can leverage its business and strategic experience to guide leadership teams as they think through how the cloud can drive business outcomes. Given cloud computing has entered the mainstream of enterprise data storage, and forward-thinking boards are beginning to incorporate it into their risk-assessment frameworks, for those that still need convincing, one way CIOs can help align the board and executive team is by updating security training as part of the effort to unlock the advantages of cloud computing whilst mitigating security risks. Lack of Knowledge Myths aside, a lack of knowledge about cloud migration can lead to mistakes in the process. CIOs should work closely with the business to understand what it wants to achieve through cloud adoption and how the cloud can help it get there. With a clear set of migration goals defined, it is important to understand that not all business elements can be migrated. Hence, organisations need to follow a logical process and consider the following steps. Clarify the business migration goals and organisational-wide needs. Identify the elements that can be migrated. Take a stock of the elements that will be migrated. Check their interdependence on other aspects of the business. Assess the impact of migration of the specific elements. Develop a roadmap for the migration of the specified elements. Rearchitect the systems to leverage the benefits offered by cloud services. Choose the best cloud service for the organisation based on its features and costs. Businesses have options of different cloud services to choose from, such as: Public cloud Private cloud Hybrid cloud Multi-cloud Although the process seems straightforward, the impact of making mistakes here may override the benefits offered by cloud migration. It is critical that CIOs qualify external parties to support cloud migration. Even within the same technology category, not all offerings are equal. The cloud community’s open approach to developing solutions has enabled a proliferation of good, better, and best technologies in the market. The challenge for the CIOs is to determine which approach and vendor partners will best meet their requirements. Selecting the wrong approach Migration is an umbrella term for the various paths to achieving a particular goal. However, not all businesses take the time to research their options, which can result in costly inefficiencies. McKinsey warns that missteps in coordinating the migration are taking a toll. Those inefficiencies are costing the average company 14% more in migration spending than planned each year, and 38% of companies have seen their migrations delayed by more than one quarter. The lift and shift approach, app modernisation, and refactoring are all popular methods of moving your business to the cloud. Each has its own pros and cons when it comes to migrating your processes to a new platform. Many businesses opt for the lift and shift approach when migrating to a new environment since it tends to be the fastest and least disruptive model (at least in theory). Involving porting an application or operation over from one environment to another without redesigning or restructuring, can be an inexpensive way of migrating systems, but it is not without drawbacks. It’s critical that CIOs do due diligence to look at what their operational costs will be after the migration to avoid issues that might undermine its effectiveness both operationally and economically. Managing Security and Compliance Cloud computing automatically exposes organisations to cybersecurity risks. These risks have been a concern since the technology was introduced, and they remain so today. Approximately 66% of IT professionals consider security to be a major challenge to cloud adoption. As the cloud becomes more complex, it will be even more important for IT leaders to keep these risks in mind. In 2023, CIOs involved in cloud migration efforts need to be aware of the growing threat of cyber attacks that target misconfigurations and vulnerabilities in running workloads. By 2023, experts predict malicious actors will look for further initial access targets such as attacks via cloud infrastructure or cloud service providers. Organisations will need to think beyond conventional security measures to avoid increasing efforts from attackers focused on compromising cloud service and hosting accounts in order to find their way into corporate environments. Insufficient Testing Testing is an essential step toward cloud migration success. However, many companies neglect to test until their apps and infrastructure have already been moved to the new cloud environment, more often than not this is symptomatic of trying to work towards unrealistic timelines – which is a recipe for disaster. Rather than approaching cloud migration as a quick win initiative (as we saw during the pandemic), but as a planned strategy to add tangible benefits to your organisation. The same level of planning, attention, due diligence, and testing is required for migration as it would be if you were building a new architecture. Therefore, testing should be an integral part of your migration plan, with sufficient time for testing factored into the timeline. The more you test early on, the easier it will be to spot any potential problems and smooth out the process later. Maintaining Cost Control Without a cost control system in place, cloud-related costs can quickly spiral out of control. This is especially true when departments outside of IT weigh in on cloud spending; their changes and adjustments can add to an organisation's overall cloud budget. An essential step in the process of defining how costs will be managed during a cloud migration hinges on a deep understanding of the interdepartmental applications, data and processes that will be moved to the cloud. Working through these inter-dependencies, can help IT leaders keep a firm grip on the project scope. As with any enterprise-wide implementation, scope creep is common . Whilst this can make your project more expensive, time-consuming and complex. One of the biggest challenges in a project is limiting change requests. Making changes to a project once it has started can be very expensive, time-consuming and complex. To avoid this issue, consider creating a cloud governance program. Such programs are helpful in establishing protocols that dictate how your team will manage the project and the types of limits that will be put in place to ensure costs do not rise unnecessarily. CIOs should include procedures in their plan to limit these requests as much as possible as the project progresses by ensuring the migration meets the business's needs during the planning phase. The human element Like any other business transformation, cloud migration is a transformative process. It can totally revolutionise the way a business creates products, delivers services, or connects with customers. But in order for these changes to occur, people as well as processes need to adapt. The process of managing change in the cloud is complex. Enterprise-wide changes can affect how almost every function of the business works, so strategic and careful consideration of core change management concepts – such as identifying stakeholders, change impacts, executive sponsors, change champions, and aligning on a strategy – is paramount for a successful execution down the road. CIOs should seek to establish a network of change champions who can help cascade messaging and exponentially increase the number of employees reached, but also serve as an integral feedback channel throughout the project. Jobs roles can often change during cloud migration initiatives, this can lead to a loss of expertise that is not properly managed through clear communication and training plans. LinkedIn rates cloud computing as the most sought-after tech skill , along with artificial intelligence and big data. In addition, a report by Gartner found that talent shortages are a significant challenge for the successful adoption of emerging technologies like cloud computing. For example, 64% of survey respondents reported that skilled worker availability is the largest challenge, compared to 4% in 2020 and 14% in 2019. Therefore, it is essential that boards and executives include a skills gap analysis before embarking on planned cloud migration programs. Ensuring the business retains employees with relevant cloud expertise whilst supplementing knowledge and skills gaps through proactive hiring in the early stages is an essential step in securing cloud migration success. Do you have the right employees to lead and transform your business to thrive? Marlin Human Capital can help in looking for the right talent to lead your journey towards creating a positive impact. We broker pioneering executive and technology leadership appointments for organisations like your own._ Get in touch with us today to start your journey.
