Stress in America 2023 survey

The pandemic highlighted how closely personal wellbeing is linked to professional life, underscoring the need for comprehensive mental health strategies within organisations. However, a persistent stigma around mental health poses challenges to both individual wellness and the broader organisational culture. To build productive and nurturing work environments, it is crucial to dismantle this stigma and cultivate a supportive culture.

The Impact of Neglecting Mental Health

Ignoring mental health in the workplace can have severe repercussions on job performance, productivity and ultimately, the bottom line of businesses. When employees under stress do not receive adequate support, it can lead to a toxic work environment, affecting overall organisational health. Transitioning to proactive mental health investments is not just an ethical responsibility but also a strategic imperative for sustainable success. Recognising this, companies such as Google, Salesforce, Unilever and EY have instituted robust mental health programmes and initiatives aimed at breaking stigmas and supporting employee wellbeing.

Effective Strategies for Enhancing Workplace Mental Health:

1. Relevant Training: Training programmes for all organisational members, especially leadership, are vital. These programmes help in understanding mental health better, recognising symptoms, and knowing how to address them effectively. Leadership training is particularly crucial as it shapes the workplace culture, teaching leaders to recognise issues and engage in supportive conversations openly.
2. Access to Resources: It’s essential to ensure that all employees have access to mental health resources such as employee assistance programmes, counselling services and stress management workshops. Organisations should also promote the use of paid time off and incorporate mental health days into their policies to support employees’ mental and emotional wellbeing. Creating support networks and using tools like surveys and wellness committees can help tailor the resources and policies needed.
3. Foster Community: A work environment that encourages open, judgment-free communication about mental health is crucial. Leaders sharing their experiences and ensuring confidentiality can significantly contribute to creating a supportive work atmosphere. This not only benefits individuals but also enhances overall organisational health and productivity.

The Best Management Secrets for Impacting Employee Mental Health

Recent research underscores the importance of employee engagement in influencing mental health. Gallup’s findings reveal that engaged employees are less likely to experience negative mental health impacts from their jobs compared to their disengaged counterparts. Engaging employees isn’t just about productivity—it’s about fostering an environment where employees feel valued, understood and supported.

The Top 5 Pillars for Boosting Employee Mental Health Include:

Commitment to Strengths: Organisations should focus on building each employee’s strengths and enabling them to do what they do best every day.

Motivational Management: Managers should motivate employees to excel, providing a sense of accomplishment and recognition.

Genuine Care: Employees should feel that their organisation truly cares about their wellbeing.

Trust in Leadership: Effective communication by leadership can build trust and positively impact mental health.

Connection to Culture: Helping employees feel connected to the organisation’s purpose and seeing how their goals align with organisational objectives can significantly enhance mental health.

Call to Action

Now more than ever, it is crucial for every organisation to prioritise mental health. We have a unique opportunity to improve the workplace by addressing the stigma around mental health and providing necessary support. When we care for our employees, they, in turn, contribute positively to the business.

Let’s commit to making these changes and fostering a workplace where everyone feels supported, valued and empowered. By doing so, we can create a healthier, more productive and resilient workforce.

Conclusion

Addressing mental health in the workplace requires a comprehensive approach that includes both individual and organisational strategies. By investing in employee engagement and wellbeing, organisations can not only improve productivity but also enhance the overall mental health of their workforce. As we continue to navigate post-pandemic challenges, the importance of mental health support in the workplace has never been more evident. Let’s make it a priority to create work environments where every employee can thrive.

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According to a 2022 Gallup poll, workers experiencing fair or poor mental health reported nearly 12 days of unplanned absences per year, compared to just 2.5 days for other employees. This absenteeism translates into an estimated annual cost of $47.6 billion in lost productivity across the U.S. economy, underscoring the critical need for robust workplace mental health strategies.

Over three-quarters of workers now seek out employers who support mental health initiatives, reflecting a broader cultural shift towards well-being in the workplace. This shift dictates that the cultivation of a supportive and healthy office environment is not just an ethical imperative but a strategic one.

Leadership at the Forefront of Change

Addressing mental health effectively requires more than just policy—it needs genuine leadership. Leaders must embody the principles of mental wellbeing, demonstrating through actions that health and productivity are not mutually exclusive. This involves setting clear examples around work-life balance and boundaries—simple measures like not emailing after hours or ensuring breaks are taken can set a tone for the whole team.

The American Psychological Association notes that only one-third of workers feel their breaks are encouraged and even fewer believe their time off is respected. Leaders can shift this perception by consistently modelling behaviour that prioritises wellbeing, thus normalising it within the corporate culture.

Breaking Down Barriers Through Open Communication

One of the most effective ways to address mental health in the workplace is through openness and vulnerability. Leaders should facilitate environments where employees feel safe to discuss their mental health without fear of judgment or reprisal. This approach has been effective for companies like Microsoft, where openness about personal mental health challenges has become part of the corporate culture.

Regular one-on-one check-ins, which allow for personalised discussions on wellbeing, can be particularly powerful. These sessions provide a platform for employees to express concerns in a private setting, which can be critical for those who may not feel comfortable speaking up in a group environment.

Supporting Neurodiversity and Individual Needs

Recognising and supporting neurodiversity in the workplace is another key area where leadership can make a significant impact. Understanding that employees may have different needs based on their mental health status, learning styles or social preferences is crucial. Leaders should strive to accommodate these differences, offering various communication channels and support mechanisms to ensure all team members can thrive.

Utilising Resources and Continuous Learning

It is also vital for leaders to be well-informed about the mental health resources available within their organisations, such as Employee Assistance Programmes (EAPs) and mental health training sessions. Encouraging the use of these resources, and even participating in them, can demonstrate a commitment to mental health that goes beyond mere lip service.

Investing in ongoing mental health education and tools can benefit the entire organisation, enhancing overall understanding and support. Companies like Unilever have led the way by integrating comprehensive mental health education into their professional development programmes, reinforcing the importance of mental health in achieving corporate success.

Conclusion: A Win-Win for All

There is no one-size-fits-all solution to improving mental health in the workplace, but starting with honest leadership and clear communication can set the foundation for a supportive and productive work environment. By embracing these practices, leaders not only enhance the wellbeing of their teams but also position their companies for greater resilience and profitability in an unpredictable world.

In essence, fostering better mental health at work begins with leaders who are willing to be as proactive about psychological safety as they are about any other business priority. This commitment can transform challenges into opportunities for growth, making the workplace a healthier and more engaging environment for everyone.

The post Cultivating a Mentally Healthy Workplace Through Leadership and Transparency first appeared on Horton International.

This partnership marks a new step towards rebuilding Horton International’s presence in the United Kingdom, reinforcing its mission to deliver exceptional executive search solutions tailored to local market needs. With Drake Darcy bringing in top-level experience and expertise to the table, this is an exciting time for both firms.

Commenting on the partnership Chris Drake, Managing Partner at Drake Darcy, says,

“I am thrilled to announce Drake Darcy’s partnership with Horton International. It is incredibly exciting to be part of such a well-established, global Executive Search firm with a local presence in over 35 different countries. As well as significantly enhancing our international service offering, it enables us to collaborate with and share best practices with over 300 of the world’s leading Executive Search professionals.

 

We are closely aligned in terms of our values, ethics, people focus and commitment to diversity.  This is a major step in Drake Darcy’s growth journey and I’m very much looking forward to the next chapter with our new colleagues at Horton International.”

Headquartered in the iconic Battersea Power Station in London, Drake Darcy is a multi-functional and multi-sector Executive Search and Interim Management firm whose mission is to connect great organisations with fantastic people in a diverse and sustainable manner.

Maneesh Ajmani, Chairman of the Board of Horton International, adds,

“We’re delighted to welcome Drake Darcy into our global family as Horton International expands its influence in the UK. Drake Darcy bring a wealth of expertise, and their vision aligns with our own commitment to provide outstanding consultative advice and strategic leadership solutions.”

With this new partnership, Horton International strengthens its position as one of Hunt Scanlon Media’s Global 40 Executive Search Companies, further solidifying its reputation in the global executive search industry.

To find out more about Horton International, visit: http://www.hortoninternational.com

About Horton International

With more than 45 offices in the Americas, EMEA, and the Asia-Pacific region, Horton International has the global resources and local-market expertise to help you attract and retain the most qualified professionals.

The firm provides outstanding consultative advice that helps organisations achieve their strategic staffing objectives. Horton International’s executive search services are exacting, timely, and highly effective, and are specifically designed to help clients achieve their business goals with confidence.

The post Horton International Announces New UK Partnership first appeared on Horton International.

The 2023 Gallup State of the Global Workplace Report sheds light on alarming statistics: regions such as East Asia, along with the US and Canada, report the highest stress levels at 52%, while Australia and New Zealand follow closely at 47%. This constant companion of stress, fuelled by relentless work demands and societal pressures, poses significant challenges but also highlights opportunities for improvement within organisational structures.

One crucial insight from Gallup’s research is the significant role employee engagement plays in mitigating stress. Engaged employees are consistently less likely to report stress compared to their less engaged counterparts. This finding is pivotal, suggesting that enhancing employee engagement can be a strategic lever to reduce workplace stress. Engaged workers typically feel more connected to their roles, find greater satisfaction in their tasks and are more resilient in the face of challenges.

The importance of engagement is further emphasised by the fact that it leads to employees having robust support networks and access to resources that enable them to manage challenges more effectively. They are also more likely to enjoy their work and find meaningful connections within their roles, which buffers against stress and prevents burnout. For instance, Gallup notes that engagement has a 3.8 times greater influence on employee stress levels than the physical location of work, underscoring that the nature of the job and its emotional impact are far more significant than where it is performed.

Moreover, the report indicates that stress disproportionately affects certain demographics, such as younger workers and women, who report higher levels of stress. This demographic detail provides organisations with targeted areas for intervention, such as developing support systems that cater specifically to the needs of these groups.

Leaders should engage in open dialogues about stress, asking about and acknowledging the challenges their team faces and what might help alleviate them. This open communication can prevent assumptions and misunderstandings that often exacerbate stress.

Redefining our understanding of stress is crucial. Chantal Burns, author of “Bulletproof: Be Fearless and Resilient – No Matter What,” argues that understanding the true nature of stress—recognising that it often stems from our perceptions and thought processes—can transform how we experience and handle it. This insight is pivotal in helping teams shift their perspective on stress, from feeling overwhelmed to viewing challenges as manageable.

Leaders must be proactive in promoting and modelling healthy stress management strategies. They should encourage regular breaks, ensure workloads are manageable and foster a workplace culture that values balance and wellness.

By implementing the below strategies to combat workplace stress effectively, leaders not only enhance their team’s wellbeing but also contribute to a more productive and positive work environment:

Promote Wellbeing and Engagement: Organisations should focus on creating an environment that fosters both employee engagement and wellbeing. This can be achieved through meaningful work, recognition, supportive leadership and opportunities for growth.

Develop Supportive Management: Training managers to act more like coaches than bosses can significantly impact engagement and stress management. Managers should focus on building relationships, offering support and facilitating employee development.

Provide Resources: Making resources available such as employee assistance programmes, mental health support and stress management workshops can help employees cope with and reduce stress.

Encourage Open Communication: Regular check-ins and a culture of transparency can help identify stressors early before they escalate into more significant issues.

Foster a Positive Work Environment: A workplace that values flexibility, autonomy and work-life balance contributes to lower stress levels and higher job satisfaction.

The implications of these strategies are profound. Not only do they enhance individual and organisational performance, but they also contribute to a healthier, more dynamic work environment. By addressing the root causes of stress and enhancing engagement, companies can unlock the potential of their workforce, leading to improved productivity and innovation.

In conclusion, while stress in the workplace is a complex issue influenced by a myriad of factors, organisations that invest in their employees’ holistic wellbeing and engagement are better equipped to manage and mitigate its effects. As we navigate the challenges of modern work environments, it becomes increasingly clear that the focus must shift towards creating workplaces where stress is understood, managed and most importantly, significantly reduced. Promoting Stress Awareness Month this April provides a timely reminder of the critical need to prioritise these efforts, ensuring that stress management is not just an annual theme but a continual commitment.

The post Strategies for managing stress in the workplace first appeared on Horton International.

While recently, there has been great progress made towards workplace gender equality, women still lag behind men in terms of representation in leadership roles – and in access to opportunities for career development.

According to the Harvard Business Review one of the reasons too few women fail to reach the top of their organisations, is because they are not being given a shot at the high-stakes assignments that are a prerequisite for the C-suite.

The majority of CEO’s still come from positions of authority, where they had autonomy over major initiatives, with profit and loss responsibility.

Yet as they ascend their organisation’s ladder, many high-ranking women often take on staff jobs requiring focused expertise, as opposed to jobs that give them responsibility over important projects.

This trend is not being mirrored by their male counterparts, as the amount of men in line jobs has stayed the same. As McKinsey’s Women Matter Study shows, by the time women reach upper-middle management, only 20% have roles that assign them profit and loss responsibilities.

A key factor that could help address this imbalance is the presence of career sponsors— people who wield power, who actively advocate for and support women in their professional growth.

The Gender Gap in Leadership

Though there is an ever- increasing amount of women entering the workforce, when it comes to leadership roles, the gender gap remains significant.

Many studies show that women are continually underrepresented in senior management and executive roles, across a variety of industries. This chronic lack of female representation can be attributed to many different factors, including gender and societal expectations, unconscious prejudice and systemic barriers.

What Role Can Career Sponsors Play?

Career sponsors have a vital role to play in dismantling the barriers women frequently face, helping women to advance in their careers.

Unlike mentors who mostly provide guidance, support and advice, sponsors proactively promote and endorse their protégés, recommending them for promotions, high-profile projects, and leadership positions. Sponsors can leverage their influence and networks to open more doors and create routes for career advancement.

Advocacy and Advancing Female Visibility

One of the biggest benefits for women of having a career sponsor, is gaining increased visibility in the workplace. This is particularly important in male-dominated industries, where informal networks and relationships heavily influence career progression. In these sectors, women can often be overlooked or excluded from key opportunities – but a sponsor can act as a counterweight to this.

Sponsors can serve as vocal advocates and champions, ensuring that talented women receive the recognition, rewards and visibility they deserve.

Gaining Access to Opportunities

As well as boosting women’s workplace visibility, career sponsors can provide access to pivotal opportunities that can rapidly propel women’s careers – from assignments on high-impact projects, to participation in leadership development programs, and introductions to influential stakeholders.

By actively promoting their protégés, sponsors can help women to gain essential skills, grow their networks, and position themselves to thrive long-term.

Addressing the Gender Bias

Gender bias still dogs far too many workplaces, though now it frequently appears in subtle, yet impactive ways. Women often face challenges such as having credit for their ideas given to others, or getting overlooked for promotions.

Career sponsors can help mitigate the effects of this prejudice by advocating for fairer treatment, challenging stereotypes, and creating more inclusive workplaces.

Smashing Through the Glass Ceiling

The “glass ceiling”— an invisible barrier stopping women from attaining the highest levels of leadership— is an all too familiar concept to numerous ambitious female professionals.

Career sponsors help to shatter this barrier by working to place women into more senior leadership roles. If they advocate for gender diversity at the highest levels of the business, sponsors will not only benefit individual women, they’ll contribute to the creation of a more diverse, inclusive and equitable workplace.

Nurturing a Sponsorship Culture

The benefits of career sponsorship for women are numerous and clear – but it’s important to recognize that it shouldn’t be restricted to a select few.

Creating a continuous culture of sponsorship within the business, that is easily accessible, is crucial for cultivating diversity and inclusion at every level.

Senior leaders shouldn’t merely sponsor junior talent – they should also provide adequate training, as well as resources to help employees develop more effective, impactive sponsorship relationships.

Conclusion

In today’s competitive work environment, women will require career sponsors to overcome the challenges they face in the workplace, so they can go on to achieve their full potential.

By advocating for and supporting women in their professional development, sponsors will play an essential role in dissolving career barriers, creating more opportunity, and encouraging a culture of inclusion.

As organisations across the board strive for greater gender equality and diversity, investing in career sponsorship programs will become more of a priority. It’s a smart choice – as not only is it the ethical thing to do, it’s also a savvy business decision that will be of great long-term benefit to all involved.

The post Why Women Need Career Sponsors: Navigating the Path to Professional Success first appeared on Horton International.

According to the 2021, Labour Force Survey, women of menopausal age (45-54) make up 11% of all people in employment and 23% of all women in employment. Many women can experience perimenopausal symptoms for years before their menopause, with three in 100 women going through the menopause before they are 40. It’s perhaps no surprise then that women experiencing menopausal symptoms represent the fastest growing demographic in the UK workforce, with nearly eight out of ten being in work.

However, there’s still a significant lack of awareness surrounding menopause, contributing to widespread discrimination. Research by the Chartered Institute of Personnel and Development found that two thirds (67%) of working women between the ages of 40 and 60 have had a negative experience of menopausal symptoms at work.

Of those who were negatively affected at work:

• 79% said they were less able to concentrate
• 68% said they experienced more stress
• 49% said they felt less patient with clients and colleagues, and
• 46% felt less physically able to carry out work tasks.

As a result of this, over half of respondents were able to think of a time when they were unable to go into work due to their menopause symptoms and research by the Fawcett Society found that one in ten women surveyed, left work due to their symptoms. Alarmingly, this occurs precisely when many of these women are at the pinnacle of their careers and should be enjoying the fruits of their extensive experience.

Despite the fact that the average age of menopause for women in the UK is 51, the retirement age has now been pushed to 68. The premature departure of women from the workforce not only poses personal distress for those affected, but also has far-reaching consequences for the economy, as it forfeits the invaluable skills and contributions of these experienced professionals.

The Equality and Human Rights Commission (EHRC) has  issued new guidance that not only highlights employers’ legal obligations but also underscores the moral imperative of supporting women through this transition.

Legal Obligations

By offering clear guidelines and practical tips, the EHRC aims to empower employers to create inclusive workplaces where women feel valued and supported.

Under the Equality Act 2010, employers could now face legal action for disability discrimination if they fail to make reasonable adjustments for workers affected by menopause. If menopausal symptoms substantially impact a woman’s ability to carry out normal day-to-day activities, they may be considered a disability. This legal framework not only protects women from discrimination but also places a legal duty on employers to accommodate their needs.

However, despite these legal protections, research indicates that many women hesitate to request workplace adjustments, often due to concerns about potential reactions. This reluctance underscores the need for greater awareness and understanding among employers about their legal responsibilities in supporting menopausal employees.

Collaborative Efforts for Change

Change is starting to happen. Through campaigns, seminars and workshops, organisations around the world are beginning to educate their workforce about the challenges faced by menopausal women and how to provide support.

Recognising the fluctuating nature of menopausal symptoms, some employers are offering flexible working arrangements such as remote working, flexible hours and job sharing. These arrangements allow women to manage their symptoms while continuing to contribute to the workforce.

International Perspectives and Support

Around the world, efforts to support women through menopause are gaining momentum. In the United States, organisations like the Menopause Center at the Cleveland Clinic offer comprehensive resources and support for women navigating menopause.

Similarly, in Europe and the UK, initiatives such as Menopause Cafés provide safe spaces for open dialogue and support. Organisations such as Henpicked, The Menopause Charity and Wellbeing of Women in collaboration with the EHRC, have been at the forefront of driving awareness and action on menopause at work issues. Through advocacy, education and practical support initiatives, these organisations are working to create a culture where menopause is openly discussed and women are empowered to seek the support they need.

Continued research into menopause and its impact on women in the workplace is essential for developing targeted support strategies. By understanding the specific challenges faced by menopausal women, employers can tailor their support initiatives more effectively and policymakers can advocate for changes in the law to better protect menopausal women’s rights. By lobbying for legislative changes and workplace reforms, these efforts aim to create a more supportive and inclusive environment for menopausal employees.

Practical Steps for Employers

Human resources departments are now rolling out training programmes to equip managers with the knowledge and skills to support their team members going through menopause. These programmes cover topics such as understanding menopausal symptoms, effective communication strategies and implementing reasonable adjustments.

For employers looking to support employees through menopause, several practical steps can make a significant difference:

• Introduce a menopause policy to provide guidance for both employees and managers.
• Consider reasonable adjustments such as providing rest areas, temperature control, flexible hours and remote working options.
• Ensure health and safety risk assessments consider the specific needs of menopausal employees.
• Foster open discussions about menopause to reduce stigma and raise awareness.
• Provide training and resources for managers to support their teams effectively.

Conclusion: A Call to Action

While progress has been made in raising awareness and implementing support initiatives, there’s still much work to be done. By continuing to advocate for policy changes, investing in research and development, and fostering a supportive workplace culture, we can create environments where women are supported and empowered to thrive in their careers.

The post Menopause Awareness and Support in the Workplace first appeared on Horton International.

Upside-down management hinges on the idea that managers should trust their employees to make their own decisions, guided by the overarching goals of customer satisfaction and employee wellbeing. This approach is predicated on the understanding that those closest to the work often have the best insights into how to execute it efficiently and effectively. By empowering employees in this way, organisations foster a culture of innovation, accountability and personal ownership over outcomes.

Humble leadership plays a crucial role in the success of upside-down management. Leaders facilitating this model do not see themselves as the ultimate authorities issuing orders from on high. Instead, they adopt a servant leadership mindset, focusing on supporting their teams in achieving their goals. This might involve providing resources, removing obstacles, offering guidance or simply being a sounding board for ideas. The aim is not to micromanage but to enable and encourage employees to find the best ways to do their jobs.

Such leaders understand that their role is not to have all the answers but to ask the right questions. They recognise the strengths of their team members and leverage these to achieve collective success. This humility in leadership fosters a more inclusive and collaborative work environment, where every voice is valued and innovation is encouraged.

The philosophy of letting people find the best way to do their jobs is a testament to the trust that upside-down management places in its employees. Rather than prescribing rigid processes and workflows, this approach advocates for flexibility and creativity in problem-solving. Employees are encouraged to experiment, iterate and discover the most effective methods to accomplish their tasks. This autonomy not only enhances job satisfaction but also leads to more efficient and innovative solutions, as employees are more intimately acquainted with the nuances of their work than anyone else.

Upside-down management focuses on outcomes—providing excellent service and ensuring customer satisfaction—rather than getting bogged down by overly prescriptive methods of achieving those outcomes. The appearance of professionalism and competence, coupled with genuine efforts to meet and exceed customer expectations, naturally leads to increased sales and revenue.

In this management model, great leaders don’t issue orders; they facilitate and inspire excellence. They create environments where employees feel valued, supported and motivated. By fostering a culture of trust, leaders encourage open communication and feedback, which are crucial for continuous improvement and adaptation to changing market conditions.

Moreover, upside-down management recognises the direct link between employee happiness and financial performance. Happy employees are more engaged, productive and committed to their work, leading to higher levels of customer satisfaction and loyalty. This positive cycle not only enhances the company’s reputation but also contributes to its bottom line. Research and case studies across various industries have demonstrated that companies adopting employee-centric management practices tend to outperform their competitors in terms of profitability and growth.

Implementing upside-down management requires a shift in mindset at all levels of an organisation. It demands leaders who are willing to relinquish control, trust their teams and lead with humility. It requires managers to listen actively, communicate transparently and prioritise the wellbeing of their employees. And it calls for employees to take initiative, embrace responsibility and work collaboratively towards shared goals.

The transition to this management model may not be seamless and it requires ongoing effort, adjustment and commitment. However, the benefits of creating a more empowered, engaged and happy workforce are undeniable. Companies that succeed in this transformation not only enjoy improved financial performance but also build a more resilient and adaptable organisation, capable of thriving in the face of challenges and seizing opportunities in an ever-changing business landscape.

In conclusion, upside-down management and humble leadership represent a radical departure from traditional business practices. By placing trust in employees, fostering a culture of autonomy and innovation and prioritising the happiness of both staff and customers, organisations can unlock unprecedented levels of success. This approach not only redefines what it means to lead but also demonstrates that the path to profitability is paved with empathy, respect and empowerment. As businesses continue to navigate the complexities of the modern world, those that embrace upside-down management will be well-positioned to lead the way in creating sustainable, human-centered workplaces where everyone thrives.

The post Turning Leadership on its Head: The Power of Upside-Down Management and Humble Leadership first appeared on Horton International.

It’s clear that certain personality traits consistently emerge among successful leaders, but the question remains: are these traits inherent, or can they be developed? Drawing upon insights from the 2015 Gallup study where research shows only one in 10 people have the talent to manage, we delve into the traits that define successful leaders in today’s context and explore the pathways to cultivating these qualities.

“Though many people have some of the necessary traits to lead, few have the unique combination of talent needed to help a team achieve the kind of excellence that significantly improves a company’s performance.”

The Core Traits of Successful Leaders

The 2015 Gallup study on leadership traits and qualities sheds light on the essential characteristics that define successful leaders, including being a motivator, assertiveness, accountability, nurturing relationships and decision-making. This research provides a foundation for understanding the multifaceted nature of effective leadership and whether these attributes can be cultivated through learning and experience.

Motivator

A key quality of successful leaders is their ability to inspire and motivate their teams. In the current age, this trait is increasingly important as leaders face the challenge of engaging a diverse and often remote workforce. The capacity to articulate a clear vision and rally a team around common goals is crucial. Motivation, however, goes beyond mere inspiration; it involves understanding individual team members’ intrinsic and extrinsic motivators and leveraging them to foster a productive and positive work environment.

Assertiveness

Assertiveness in leadership involves the ability to communicate one’s vision, decisions and needs clearly and confidently without being aggressive. In today’s complex organisational landscapes, assertive leaders navigate challenges more effectively by setting clear expectations, establishing boundaries and advocating for their teams and projects. This trait is particularly vital in ensuring that strategic objectives are met, while maintaining healthy team dynamics.

Accountability

Successful leaders in 2024 embrace accountability, not only holding themselves responsible for their actions and decisions, but also instilling a culture of accountability within their teams. This involves setting clear benchmarks for success, providing constructive feedback, and leading by example. Accountability fosters a sense of ownership and responsibility among team members, driving performance and innovation.

Relationships

The ability to build and maintain positive relationships is fundamental to effective leadership. In this interconnected world, leaders must navigate a wide array of relationships, including those with team members, peers, stakeholders and customers. Strong relationship-building skills are based on empathy, active listening and mutual respect. Leaders who excel in this area create an inclusive and collaborative culture that leverages diverse perspectives and strengths.

Decision-Making

Decisive leadership is now more critical than ever. Successful leaders are those who can make informed decisions swiftly, balancing risks and benefits while considering the broader impact on the organisation and its stakeholders. This trait involves not only analytical skills but also intuition and the courage to make tough calls in the face of uncertainty.

Nature vs. Nurture: Can Leadership Skills Be Learned?

The debate over whether leadership is a product of innate qualities (nature) or developed skills (nurture) is ongoing. While it’s true that some individuals may naturally exhibit leadership traits, the consensus nowadays is that leadership skills can indeed be developed. The journey to becoming a successful leader involves a combination of personal reflection, education, experience and mentorship.

Personal Reflection and Self-Awareness

Understanding one’s strengths and areas for improvement is the first step in developing leadership skills. Personal reflection and self-awareness allow individuals to identify which leadership traits they naturally possess and which areas require development.

Education and Training

Leadership development programmes, workshops and courses provide valuable knowledge and tools for aspiring leaders. These educational opportunities offer insights into effective leadership strategies and practices, helping individuals hone their skills.

Experience

There’s no substitute for real-world experience. Taking on leadership roles, even in small capacities, offers practical learning and the chance to navigate the complexities of leading teams.

Mentorship and Coaching

Learning from experienced leaders through mentorship or coaching is invaluable. These relationships provide personalised insights, advice and the benefit of hindsight from seasoned leaders.

Leadership in 2024: A Diverse Tapestry

Successful leaders are a testament to the diverse tapestry of leadership styles and paths to effectiveness. While the traits identified by Gallup provide a foundation, the expression of these qualities varies widely among leaders, shaped by their unique personalities, experiences and the specific contexts within which they operate.

In conclusion, the landscape of leadership in 2024 is rich and complex, reflecting the challenges and opportunities of our time. While certain personality traits are indicative of successful leaders, the journey to leadership excellence is highly individual and profoundly influenced by a commitment to growth and development. Whether through nature, nurture or a combination of both, leadership skills can be cultivated, offering a promising pathway for those aspiring to make a positive impact in an ever-changing world.

The post Cultivating Successful Leaders Through Key Traits and Lifelong Learning first appeared on Horton International.

Native Intelligence is the IQ factor. Something you are born with. Native Intelligence can be evaluated based on short-term memory, analytical thinking, mathematical ability and spatial recognition. It is easy to test, easy to measure and doesn’t change over time. You typically gain knowledge over time and not IQ.

Emotional Intelligence is a combination of one’s emotions and personality. How you understand and manage your own emotions. Self-awareness and self-control such as, staying calm under pressure, not becoming defensive when criticized, listening without jumping to conclusions. How you identify yourself, how you evaluate yourself, how do you control and express yourself. How you perceive and assess emotions in others and how you use emotions to facilitate thinking, understanding and meaning. Emotional Intelligence is not easy to test as there are no standardized tests for emotional intelligence. It’s not easy to measure as there is no quantitative scoring and its dynamic, constantly evolving.

In an article in the Harvard Business Review on “What Makes a Leader”, Daniel Goleman, often referred to as the father of emotional intelligence, highlights the strong connection between High Emotional Intelligence and Effective Leadership. In the article Daniel Goleman states, “my research clearly shows that emotional intelligence is the most important element in leadership”.

In a study conducted on employees in FedEx (McCrum, 2019) after having received training in emotional intelligence, 72% of the leaders reported enhanced decision-making skills. Research published in the Forbes magazine in 2014 stated that 90% of top performers are high in emotional intelligence.

Maneesh Ajmani, Regional Director EMEA, “Emotional intelligence in leadership is not just good to have but a necessity. When hiring leaders, prioritizing emotional intelligence is prioritizing success.”

Social Intelligence is our ability to use our emotional intelligence to enhance the interactions with others under diverse situations and create a successful working environment to help achieve our goal. Like emotional intelligence, social intelligence can be built over time through the learn, practice and develop loop.

Hazem Al Mubarak, Managing Partner, Middle East, “2 out of 3 clients we consult, place increased emphasis on Social Intelligence in their hiring and promotion decisions. The final decision often boils down to the ability to deal and navigate with different situations and stakeholders to bring out the best outcome?”

Social Intelligence of employees often defines an organisations culture. Organisations can promote a certain culture by creating awareness, integrating the right actions and encouraging positive behaviour. Organisations that consciously foster good social intelligence benefit from increased employee engagement, enhanced team collaboration, higher retention of critical skills, effective conflict resolution, higher employee productivity, improved communications and smooth integration when considering a merger or an acquisition.

The post Building Smarter Teams – The Unseen Benefits of High Social Intelligence first appeared on Horton International.

With this latest collaboration, Horton International continues its journey of global expansion which has seen it extend its reach across the Americas, Asia, and Europe in recent years. The search consultancy will leverage the top-tier expertise brought in by Brown & Chase Managing Director, Brian Russell and Partner, Noel Rowland.

Brown & Chase’s partnership with Horton International marks not only an expansion of the firm’s global reach, but also a reinforcement of its commitment to delivering solutions that align with the local market needs. With over 45 offices spanning three continents, Horton International is a leading name in the global executive search industry.

Commenting on the new partnership, Brian Russell and Noel Rowland said, “Building on the success of Brown & Chase in Australia, we are excited to be joining Horton International’s experienced search consultants.

“Joining Horton International was an easy decision for us, as the Horton International team aligns to our core mission – the right person, the right fit, the right role.”

Maneesh Ajmani, Chairman of the Board of Horton International, commented, “We’re excited to welcome Brian, Noel and their colleagues into our global family as Horton International expands its influence across Australia. Brown & Chase bring a wealth of expertise and their vision aligns with our own commitment to delivering long-term tailored solutions.”

To find out more about Horton International, visit:  www.hortoninternational.com

About Horton International

With more than 45 offices in the Americas, EMEA, and the Asia-Pacific region, Horton International has the global resources and local-market expertise to help you attract and retain the most qualified professionals.

The firm provides outstanding consultative advice that helps organisations achieve their strategic staffing objectives. Horton International’s executive search services are exacting, timely, and highly effective, and are specifically designed to help clients achieve their business goals with confidence.

The post Horton International Expands Reach in Australia first appeared on Horton International.

The task of negotiating wages in such an environment becomes increasingly intricate, contributing further to inflationary pressures. This cycle can precipitate workforce reductions as companies strive to manage operational costs under the strain of escalating expenses. Moreover, the constant uncertainty erodes consumer confidence, a critical component of a healthy economy.

This lack of confidence is palpable across Argentina, manifesting in reduced consumer spending and investment reticence. That said, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 36.0 in February 2024 up from 35.6 in January. However, the index remained entrenched below the 50-threshold that separates optimism from pessimism among consumers.

Whilst consumers’ willingness to purchase big ticket items may be improving, their expectations over the general economic conditions in the year ahead have weakened and research shows that they are growing more pessimistic over their future financial situations.

Compounding these challenges are the effects of recessions, which manifest as significant economic contractions accompanied by heightened unemployment. Businesses, in an attempt to navigate these turbulent waters, often implement severe cost-cutting measures, including layoffs and reduced hiring initiatives. This, in turn, dampens the demand for executive search services, as the market contracts and companies focus on survival rather than growth. Job seekers find themselves facing heightened competition, prolonged job searches and elevated unemployment rates. Ironically, it is during these tougher times that the need for strong leadership becomes most apparent; however, financial constraints make the acquisition of such leadership a complex challenge to navigate.

Argentina’s economic instability, marked by these cycles of hyperinflation and recession, has significantly disrupted business operations and investment decisions. The demand for executive search services has diminished as recessions further exacerbate challenges, constraining job creation efforts and intensifying unemployment levels. As the country endeavors to navigate through these economic trials, the recruitment sector, including executive search firms, must adapt and innovate. Embracing flexibility and forward-thinking strategies is crucial for these firms to withstand shifting market dynamics and ensure resilience in the face of adversity.

Horton International Argentina recognizes these challenges and remains committed to assisting organizations in finding the best talent to navigate and prosper in these turbulent times. Our expertise and deep understanding of the local and global economic landscapes enable us to provide invaluable support to companies seeking to strengthen their leadership teams despite the economic headwinds.

In the context of wage negotiations and workforce dynamics, confirmed statistics reveal the intricacies and challenges faced. For instance, Argentina’s annual inflation soared to 254.2% in January 2024, the highest rate in 32 years. These extortionate rates significantly impact wage negotiations and employment conditions. The country’s unemployment rate which although at its lowest level in over two decades, stood at 5.7% in the second quarter of 2023 and reflects the broader economic difficulties, highlighting the competitive and challenging job market and underscoring the urgency for companies to secure strong leadership to steer through these uncertain times effectively.

In summary, the economic challenges posed by hyperinflation and recession in Argentina have profound implications for the executive search sector. These conditions necessitate a strategic and innovative approach to recruitment, emphasizing the importance of leadership in overcoming economic obstacles. Horton International Argentina stands ready to partner with organizations in their quest to find such leaders, ensuring resilience and prosperity even in the face of economic adversity.

The post Navigating Economic Challenges in Argentina: The Critical Role of Executive Search in Times of Hyperinflation and Recession first appeared on Horton International.

Wonderful too are the many uplifting stories of women who have overcome significant adversity, whether personal or professional, in reaching their goals, sometimes against nearly all the odds.

And the odds are much lower for some than others.

The latest annual UN Global ESG report (published in September 2023, with data from 2022) informs us that just 15.4% of the targets under Goal 5 (Gender Equality) are on track, with little progress, globally, in expanding women’s share in management or political representation.

The report also noted, among other things, that:

• Women accounted for 40% of all people in employment yet only 28% of management positions,
• 55 per cent of countries (from 119 countries surveyed) lacked laws that explicitly prohibit direct and indirect discrimination against women,
• Nearly one in four young people were out of employment, education or training, with women twice as likely as men to find themselves in this state,
• There were around 2 billion people across the world in jobs without social protection.

The situation is direst in the low-income countries of Sub-Saharan Africa and Central and Southern Asia.

Some organizations conducting business in territories with large numbers of marginalized people have implemented programs and practices that contribute to reducing socio economic inequities by affording opportunities to disenfranchised groups of people.

Others have not.

The DEI focus this International Women’s Day is an opportunity to reflect on your own organization’s record on D, I and especially E:

• Do your gender employment and pay ratios buck the national norm in the places you do business?
• Do your DEI metrics extrapolate to socio–economically or otherwise disadvantaged people generally, and up and across the organization, that is, both hierarchically and, where practical, functionally?
• Do you actively, either directly or through external programs, create employment access opportunities for people who otherwise would have little or no opportunity to work?
• If you have identified entry level roles for those people, do you then support them with the knowledge, skills and empowerment that have been otherwise denied them, and not allow them to languish in lower skill – lower status jobs, potentially reinforcing, rather than redressing, existing inequities and attitudes?

To confront the systemically embedded inequity in prevailing social orders found in some regions, both national and all too often mirrored at organizational level, will require going beyond the statutory labor rights – equal opportunities proclamations commonly found in the Social Goals section of Corporate ESG reports currently, important though they are.

So as well as celebrating the many wonderful stories of women’s achievements this International Women’s Day, let’s also understand and engage the improved odds we have of confronting the global Equity crisis that having more women in key decision making roles potentially presents.

The post Beyond Celebrations: Navigating the Equality Landscape first appeared on Horton International.

Generative AI

Generative AI stands at the forefront of technological innovation, poised to redefine the consumer sector. The potential impact spans from personalised experiences and efficient operations to innovation in product design. As businesses embrace the transformative potential of generative AI, it is imperative to navigate ethical considerations responsibly, ensuring that these technologies contribute to a positive and inclusive consumer experience. The future promises a consumer sector with unprecedented personalisation, efficiency, and engagement, ushering in an era of innovation and advancement.

Climate Concerns

The intersection of climate concerns and consumer behaviour marks a pivotal moment in the evolution of our global society. As individuals increasingly recognise the profound impact of their choices on the environment, they are reshaping markets, demanding sustainable alternatives, and holding businesses accountable for their environmental practices. The ongoing shift towards eco-conscious consumer behaviour reflects a collective commitment to creating a more sustainable and resilient future for future generations. It is a testament to the transformative power of informed consumer choices in the face of the pressing climate crisis.

Value for money

In challenging financial times consumers are looking for savings. They include traditional ways of e.g. taking advantage of sales but also transforming their own consumer habits, such as cooking more meals at home instead of dining out. Alongside traditional financial strategies, consumers can employ lifestyle changes to optimise their finances. For example, thrift shopping and buying second-hand items can significantly save money on clothing, furniture, electronics, and other goods. Energy-saving practices, for instance, using energy-efficient appliances, reducing water and electricity consumption, and adequately insulating homes, can contribute to lowering utility bills.

Wellness

The wellness trend is not just a fad but a fundamental shift in consumer consciousness. As consumers prioritise health and well-being, businesses across various industries must adapt and incorporate wellness-focused offerings to meet evolving consumer expectations. Brands that authentically align with wellness values and prioritise health-conscious practices are likely to resonate more strongly with today’s discerning consumers.

In our latest report, we look at each of the trends and possible responses in a more in-depth way – Download the report here.

The post Consumer Trends In 2024 first appeared on Horton International.

In this article we will examine the best practices and strategies that many successful companies are already putting into practice in a bid to retain valuable team members in today’s business landscape.

1. Place a focus on employee well-being

In the post-Covid workplace, more and more employers are realising the importance of taking a holistic approach to wellness. Creating a work environment that prioritises physical and mental well-being is fast becoming a pivotal cornerstone of all modern personnel retention strategies.

In an effort to keep their talent onside, companies are now heavily investing in wellness programs, flexible work schedules, and mental health resources, so they can offer up a menu of comprehensive support to their employees.

2. Create tailored career development plans

The global executive search for top talent and the subsequent shortage is making it vital for businesses to nurture the growth and ambition of their personnel. Employees are increasingly seeking out opportunities for career growth and development and the most successful organisations are responding to this trend by implementing personalised career development plans, which are in sync with the direction of the company.

As these plans balance out individual aspirations with organisational goals, they not only offer employees a valid pathway to advance professionally – they help staff feel more valued by fostering a sense of purpose.

When employees feel the work they do matters, they are more likely to stay loyal to the business. As there is presently a dearth of talent in many industries across the board, this is a factor that most businesses simply can’t afford to ignore.

3. Offer remote work flexibility

Brands need to think beyond the office walls as post-pandemic, the global shift to hybrid working has changed employee expectations forever. If companies can provide their personnel with flexible work arrangements and adequately connected remote options they will greatly enhance work-life balance for their workers. On top of this, they’ll demonstrate that they have made a significant commitment to adaptability – a trait highly valued by today’s modern workforce.

4. Invest in inclusive and diverse cultures

It’s crucial for companies to be able to build a tapestry of perspectives that they can draw on to gain fresh insight that will help them improve performance. However, in 2024, fostering an inclusive and diverse workplace isn’t just a checkbox item on a list – it’s an absolute business imperative that requires careful planning and substantial forethought.

Companies that are leading the market now are all actively promoting diversity, equity, and inclusion – but in a workable way that results in tangible benefits for their employees. The most successful brands have recognised the positive impact investing in these factors brings when it comes to employee engagement and retention.

5. Implement adequate recognition and rewards programs

Brands must brainstorm ways to reward personnel beyond the traditional annual bonus as many employees are looking for job compensation that reaches beyond the monetary.
Acknowledging the valuable contributions of employees through the implementation of innovative recognition and rewards programs will help companies boost morale – but it will be vital to consult with the entire workforce before rolling out any reward schemes to discover what staff want the most.

Luckily there is no shortage of ways to adequately reward staff for their efforts, as there are multiple non-monetary perks that organisations can use to show their appreciation – from personalised shout-outs to training, to the opportunity to take on extra responsibility.

6. Maintain continuous feedback and communication

Communication in the workplace should always be a two way street between employers and workers. If they are striving to retain more talent, organisations must be willing to listen to their employees and adequately respond to their needs.

There is a shift occurring away from traditional annual performance reviews over to continuous feedback mechanisms that allow the business to constantly adapt to thrive. By implementing regular check-ins, ensuring transparent communication channels, and encouraging a culture that nurtures open dialogue,k brands can ensure they do everything they can to retain the maximum amount of talent in today’s workplace.

7. Integrate technology for maximum engagement

Technology can be used to great advantage by employers looking to retain more talent, as they can utilise it as a useful tool to encourage and facilitate team building.
Throughout 2024, companies will look to leverage tech to enhance employee engagement, as well as put it to more traditional uses, like boosting efficiency, reducing errors and improving productivity.

There are a variety of ways that tech can be successfully implemented to create a more connected, motivated workforce. AI and machine learning, along with the Cloud can enable powerful new capabilities, that help employees share knowledge, feedback and ideas via
virtual team-building activities, collaborative platforms and innovative communication tools.

8. Provide leadership development pathways

Brands wanting to attract and keep top talent must demonstrate they have made a commitment to nurturing the leaders of tomorrow, by making an investment in leadership development programs that help their employees advance.

By offering defined pathways to power, through the provision of these career boosting programs, organisations can ensure a continual pipeline of capable leaders who understand the company and will remain loyal. Taking this approach will not only aid with succession planning – it will also help to motivate employees by showing them there are clear paths for advancement.

9. Social Responsibility Initiatives

Today’s employees want more than financial recompense, they want their contribution to make a difference and be recognised and valued by the brand.
Top flight talent in every sector is looking to work for companies that actively demonstrate they are making a positive impact on society.

By participating in social responsibility and commitment to the wider community outside the workplace, organisations will achieve two important things. First they will align themselves with current employee values but they will also create a higher sense of purpose that goes deeper than daily tasks.

Conclusion:

2024’s employee retention landscape is set to demand a multifaceted, strategic approach. Companies that prioritise employee well-being, embrace diversity and inclusion and adapt well to the shifting work environment today, will be the ones that find themselves thriving tomorrow.

These will be the forward thinking brands that will nail the art of talent retention – as by creating an atmosphere where employees feel valued and motivated they’ll keep their best performing personnel onside – and committed for the long haul.

The post Navigating the New Workforce Landscape: 9 Top Employee Retention Strategies for 2024 first appeared on Horton International.

1. Enhanced productivity and increased engagement

Employees who feel invested in and valued by their employers are more likely to be committed, motivated and engaged in their work. Development opportunities start from the first day; companies who have a clear onboarding process are less likely to breed disengaged and underperforming employees. Further training, whether through workshops, coaching programmes or mentorship initiatives, create a sense of belonging and loyalty and embed a sense of value and investment, ultimately leading to higher levels of employee engagement and job satisfaction.

Well-designed employee programmes empower individuals to enhance their skills and align individual goals with business goals to ensure mutual success – ultimately contributing to increased productivity, efficiency and improved performance. By offering training and skill development opportunities, organisations empower their workforce to excel in their roles.

2. Retention of high-performers and strategic succession planning

Employee development programs, particularly those tailored for leadership growth, help identify and nurture individuals who can drive the organisation forward. This, in turn, strengthens the leadership pipeline and ensures continuity in the face of leadership transitions.

A 2023 LinkedIn report found that 93% of companies are concerned about employee retention – the average turnover or churn for UK workers was 35% in 2023. Professional development is a powerful tool for retaining high-performing employees. When individuals see a clear path for growth and career advancement within any company, they are more likely to stay committed to their current employer. Recognising and rewarding their dedication through development opportunities fosters loyalty. This, in turn, reduces turnover rates and the associated costs of recruitment.

Employee development plays a pivotal role in the succession planning process by ensuring that there is a pool of skilled and prepared individuals ready to step into key roles, minimising disruptions during leadership transitions.

3. Adaptability to change

With markets and industries constantly evolving, adaptability is a key asset. Employees must keep pace, and professional development equips individuals with the skills and knowledge needed to navigate change effectively. Employee development ensures that the workforce remains adaptable to technological advancements, industry trends and changing market dynamics, fostering a culture of continuous improvement.

4. Global talent acquisition

In an interconnected world, organisations often seek candidates with a broad skill-set, global mindset and cross-cultural competencies. Professional coaching programmes that incorporate international exposure, cross-cultural training and language tuition can significantly enhance an individual’s appeal in the global job market, but also make organisations more attractive to global talent looking for a diverse professional experience.

In a global context, proficiency in multiple languages is a valuable skill. Employee development programs that include language training contribute to the linguistic capabilities of the workforce.

Employee development often involves participation in conferences, workshops, and industry events. This provides employees with networking opportunities, expanding their professional connections globally. For global talent, joining an organisation with a well-connected and globally engaged workforce can be a compelling factor.

5. Addressing skill gaps and fostering a culture of innovation

A workforce that is continuously learning and evolving is more likely to contribute innovative ideas and creative solutions. As employees acquire new skills and knowledge, they become more capable of generating inventive ideas, of thinking outside the box and of applying new skills to solve challenges.

Due to the ever-evolving world we live in, employees are continually needing to learn new skill-sets in order for businesses to stay top of their game. If organisations do not provide these opportunities to learn, the already significant skills gap will continue to grow. Leadership and management are where some of the largest skills gaps exist and internal training is needed to address these gaps so businesses stay relevant.

6. Enhanced company reputation

Organisations that prioritise employee development often enjoy a positive reputation in the job market. Job seekers and industry professionals are attracted to organisations that prioritise the growth and well-being of their employees, contributing to a favourable public image.

Businesses who prioritise opportunities for professional growth and learning are a great gauge of a strong and transformative work culture as team members feel valued and supported. This leads to employee happiness which in turn will help you to attract, engage and retain more top-level talent.

Conclusion

Investing in employee development is not just a trend; it’s a strategic imperative for organisations navigating the complexities of the global business landscape. From attracting top talent to enhancing productivity and fostering innovation, the benefits of employee development are manifold. By understanding the importance of continuous learning and incorporating it into their culture, organisations position themselves for long-term success, while top executive search firms find a rich pool of candidates ready to take on leadership roles. In the dynamic world of business, employee development is the key to unlocking potential and staying ahead of the curve.

The post Unleashing Potential: 6 Benefits of Employee Development in the Global Business Landscape first appeared on Horton International.

However, there are also downward pressures on the industry. High inflation and interest rates have reduced the demand for over-the-counter medications, and stricter drug pricing regulations imposed by the UK and Europe are impacting healthcare spending. The significant pharmaceutical trends for 2024 and beyond are as follows:

Small-molecule drugs continue to dominate the market

The small molecule drug market is a significant segment within the pharmaceutical industry that involves developing, manufacturing, and selling drugs composed of small, chemically synthesised molecules. Small molecule drugs are typically composed of low molecular weight compounds. They are chemically synthesised, allowing precise control over their structure and properties. They are used for a wide range of therapeutic applications, including treating various diseases and medical conditions. They may target specific proteins or pathways involved in the disease process, and many can be administered orally, making them convenient for patients. This mode of administration contributes to patient compliance and ease of use.

Patent protection and competition from generic versions

Small molecule drugs are often protected by patents, providing pharmaceutical companies with a period of exclusivity during which they have the sole right to manufacture and market the drug. Once the drug’s patent protection expires, generic versions may be introduced, increasing competition and potentially lowering prices. This dynamic is a common feature of the small molecule drug market. The cost of research and development to discover and develop new small-molecule drugs is high. The process involves identifying potential drug targets, screening and optimising compounds, and conducting preclinical and clinical trials. Following rigorous testing, they must gain regulatory approval before being marketed. Regulatory agencies, such as the US Food and Drug Administration (FDA), NICE and the European Medicines Agency (EMA), assess safety, efficacy, and quality.

Future trends

Global healthcare trends, regulatory changes, and shifts in disease prevalence influence the small molecule drug market. Healthcare policies, pricing pressures, and emerging technologies also impact market dynamics. They will continue contributing significantly to pharmaceutical companies’ revenues for the foreseeable future. However, the market’s size and growth will depend on factors such as the success of new drug launches, market competition, and the ability to address unmet medical needs.

The markets for biologics will continue to grow

Biologics are therapeutic products derived from living organisms like cells, tissues, or microorganisms. Unlike traditional small-molecule drugs, which are chemically synthesised, biologics are large and complex molecules produced through biotechnological processes. They are often composed of proteins or nucleic acids and include many products, such as monoclonal antibodies, vaccines, hormones, and gene therapies.

How biologics work

Biologics are designed to interact with specific targets in the body, such as proteins or cells, to modulate or correct disease processes. This targeted approach can enhance efficacy and reduce side effects compared to less specific treatments. Used to treat a wide range of diseases, including autoimmune disorders, cancer, infectious diseases, and genetic disorders, they are valuable in addressing conditions where specific biological pathways need modulation. However, due to their biological nature, biologics may induce an immune response in the body. This reaction can lead to the development of antibodies against the biologic, potentially impacting its efficacy and safety.

Development

The biologics’ development and regulatory approval process thoroughly assesses safety, efficacy, and quality. The approval pathway often includes extensive clinical trials demonstrating the product’s benefits and risks.

Future impact on the pharmaceutical market

Biologics have revolutionised the treatment landscape for various diseases, offering new therapeutic options for previously challenging conditions to manage effectively. They have been particularly successful in oncology, rheumatology, and autoimmune disorders. Consequently, the global market has experienced significant growth, and biologics have become a primary revenue driver for pharmaceutical companies. The market is expected to expand as more biologics are developed and approved for different indications. Biologics often enable a more personalised approach to treatment, as they can be designed to target specific molecular pathways or cellular markers associated with a patient’s disease.

Future challenges

The complex nature of biologics makes their manufacturing more intricate and costly than traditional small-molecule drugs. This complexity can impact pricing and access, and the high costs of some biologics have raised concerns about affordability and healthcare system sustainability. However, introducing biosimilars, similar but not identical versions of approved biologics, has increased competition in the market. This intervention can lead to cost savings for healthcare systems and patients, reducing profits for the industry.

The success of biologics has led to increased research and investment in biotechnology and biotherapeutics. This focus on innovation is likely to continue through 2024 and beyond, shaping the pharmaceutical industry.

The trend to outsource drug development and manufacturing

Pharmaceutical companies will continue to outsource drug development and manufacturing, leveraging external expertise and resources to enhance efficiency, reduce costs, and accelerate the overall drug development process.

Contract research and manufacturing

Outsourcing allows pharmaceutical companies to tap into the specialised expertise of contract research organisations (CROs) and contract manufacturing organisations (CMOs) that focus on specific aspects of drug development. These specialised partners often have deep knowledge and experience in preclinical and clinical research, formulation development, and manufacturing.

Cost reduction and faster time to market

Outsourcing can be a cost-effective strategy, especially for smaller or emerging pharmaceutical companies that may not have the infrastructure or resources to handle all aspects of drug development internally. By outsourcing to CROs and CMOs, companies can avoid significant upfront investments in facilities, equipment, and personnel. Outsourcing also provides pharmaceutical companies with flexibility in adapting to fluctuating workloads. They can scale their operations up or down based on project requirements without the fixed costs of maintaining an in-house infrastructure. Collaboration with specialised service providers can accelerate the drug development timeline. Outsourcing allows companies to leverage the established capabilities of CROs and CMOs, potentially reducing development times and enabling quicker entry into the market.

Risk Mitigation

Drug development is inherently risky, with uncertainties at various stages. Outsourcing enables companies to share some of these risks with their partners. For example, a CRO might take on the risks of conducting clinical trials, and a CMO might assume risks related to manufacturing processes. It also means that pharmaceutical companies can concentrate on their core competencies, such as research, strategic planning, and commercialisation, allowing them to allocate resources more efficiently and strategically.

Furthermore, reputable CROs and CMOs adhere to strict quality and regulatory standards. Partnering with organisations with a strong compliance track record helps pharmaceutical companies ensure that their products meet regulatory requirements and quality standards.

The demand for personalised medicine will continue to grow

Personalised medicine, or precision medicine, is a medical approach that tailors healthcare decisions and interventions to individual characteristics, considering factors such as a person’s genetic makeup, lifestyle, environment, and other unique attributes. The trend toward personalised medicine is driven by genomics, molecular biology, and technology advancements, enabling a more targeted and precise approach to disease prevention, diagnosis, and treatment.

Genomic and molecular diagnosis

Advances in genomic research have provided insights into the genetic basis of diseases. Genetic information is increasingly used to identify individuals at risk for certain conditions, guide treatment decisions, and predict responses to specific therapies. Additionally, molecular diagnostics can analyse particular molecules, such as DNA, RNA, proteins, and metabolites, thus helping identify disease-associated biomarkers and guide treatment choices.

Additionally, pharmacogenomics is used to study the impact of genetic variations on an individual’s response to drugs. Understanding a patient’s genetic makeup can help predict drug effectiveness, potential side effects, and optimal dosage, leading to more personalised and safer treatment plans.

Targeted therapies

The development of targeted therapies is a hallmark of personalised medicine. These therapies are designed to specifically target molecules or pathways involved in the growth and survival of cancer cells or the progression of other diseases. Targeted therapies aim to maximise efficacy while minimising side effects.

Immunotherapy is a personalised medicine that harnesses the body’s immune system to target and destroy cancer cells. It has shown promising results in various cancers, emphasising the importance of individualised approaches to treatment.

Clinical trials

Personalised medicine will continue to influence the design of clinical trials, with an increasing emphasis on patient stratification based on molecular and genetic profiles. This approach allows researchers to identify subpopulations more likely to respond positively to a particular treatment.

Artificial intelligence

The integration of diverse data types, including genetic information, electronic health records, and lifestyle data, is facilitated by data science and artificial intelligence advancements. Analysing this integrated data enables a more comprehensive understanding of an individual’s health and can inform personalised treatment plans.

Future trend

The trend toward personalised medicine represents a paradigm shift in healthcare, moving from a one-size-fits-all approach to a more individualised and targeted model. While challenges exist, ongoing research and technological advancements will continue to drive the integration of personalised medicine into mainstream healthcare practices.

The impact of emerging markets

Emerging markets, including countries in Asia, Latin America, and the Middle East, will continue to impact the pharmaceutical industry significantly, influencing various aspects of drug development, market access, and global business strategies.

Large growing and more wealthy populations

Emerging markets often have large and growing populations and offer substantial growth opportunities driven by rising incomes, expanding middle-class populations, and improving healthcare infrastructure, leading to increased demand for pharmaceutical products. As healthcare access improves, there is an increasing need for pharmaceuticals to address a range of health issues, including infectious diseases, chronic conditions, and lifestyle-related disorders.

The disease burden in emerging markets may differ from that in developed economies. Thus, the trend is for pharmaceutical companies to adapt their product portfolios to address prevalent diseases in these regions, such as infectious diseases (e.g., malaria, tuberculosis) and non-communicable diseases (e.g., diabetes, cardiovascular diseases).

Improving access

Improving access to essential medicines will continue to be critical to pharmaceutical development in emerging markets. Companies may work on pricing strategies, partnerships, and differential pricing models to enhance affordability and ensure broader product access. However, the regulatory landscape in emerging markets can vary, and pharmaceutical companies must navigate diverse regulatory requirements. Adherence to local regulations, obtaining market approvals, and complying with quality standards are essential for successful market entry.

Pharmaceutical companies often collaborate with governments and healthcare organisations in emerging markets to contribute to developing healthcare infrastructure. This partnership can involve investments in training healthcare professionals, building healthcare facilities, and supporting public health initiatives.

Future trends

Through 2024 and beyond, emerging markets will continue to play a crucial role in shaping the pharmaceutical industry’s global landscape. Companies that effectively navigate the opportunities and challenges presented by these markets will strengthen their market position, drive revenue growth, and contribute to improving healthcare outcomes in diverse regions worldwide.

Pricing pressure

The pharmaceutical industry will continue to face increasing pressure to reduce the cost of drugs due to various factors, including concerns about healthcare affordability, rising healthcare expenditures, and public demand for more accessible and cost-effective treatments. Several vital drivers contribute to this pressure, and the industry is exploring various strategies to address the challenge of reducing drug costs.

Pricing Transparency and other cost reduction strategies

There is a growing call for greater transparency in drug pricing. Patients, healthcare providers, and payers are seeking more visibility into the factors that contribute to the pricing of drugs, including research and development costs, manufacturing expenses, and profit margins.

Additionally, the expiration of patents for branded drugs opens the door for generic and biosimilar competition. Generic drugs, which are bioequivalent to brand-name drugs, typically enter the market at lower prices, leading to cost reductions. Biosimilars, similar but not identical to biologic drugs, offer competition in the biopharmaceutical sector.

One increasing trend is a shift toward value-based pricing models, where the price of a drug is tied to its demonstrated clinical outcomes and therapeutic value. This approach aims to ensure that the cost of a drug aligns with its efficacy and the benefits it provides to patients. Payers, such as insurance companies, the NHS, and pharmacy benefit managers (PBMs), often negotiate with pharmaceutical companies for discounts and rebates on drug prices and secure favourable pricing arrangements for large patient populations.

Research and Development cost reduction

Improving the efficiency of the drug development process will also contribute to cost reduction. Efforts to streamline research and development, embrace new technologies, and optimise clinical trial designs can help bring new drugs to market more efficiently and at lower costs. Supply chain optimisation can also reduce manufacturing and distribution costs.

Investments in digital health technologies and telemedicine will continue to improve healthcare efficiency and reduce costs associated with traditional healthcare delivery. These technologies may enhance remote monitoring, patient engagement, and overall healthcare management.

Future trends

The pharmaceutical industry will continue to feel the pressure to reduce drug costs, with stakeholders continuing to explore a range of strategies to achieve this goal. Efforts are being made to increase transparency, enhance competition through generics and biosimilars, adopt value-based pricing, optimise supply chains, and collaborate on innovative solutions that balance the need for affordable healthcare with the industry’s imperative for innovation and sustainability.

Opportunities in Pharma

The pharmaceutical industry continues to thrive despite all the challenges it has faced over recent years. It remains under immense pressure to reduce prices while responding to demands to improve healthcare globally. It also faces perceptual challenges. Building and maintaining public trust is an ongoing challenge, particularly regarding perceptions of pharmaceutical companies’ motivations, pricing practices, and ethical standards. Transparent communication and ethical behaviour are essential to address these concerns. However, the pharmaceutical industry remains poised for significant developments in 2024 and the coming years.

We can expect to see continued advancements in biotechnology and biopharmaceuticals, the development of innovative therapies, including gene and cell therapies, monoclonal antibodies, and RNA-based treatments, precision medicine with an increasing focus on developing targeted therapies based on individuals’ genetic profiles and molecular characteristics. Advancements in cell and gene therapies are expected to continue, potentially revolutionising the treatment of genetic disorders, cancers, and other conditions.

Integrating digital health technologies, such as telemedicine, wearable devices, and health apps, will also play a significant role. AI and machine learning will likely become more prevalent in global drug discovery market, particularly in areas such as drug discovery, clinical trial design, and data analysis.

In navigating these prospects and challenges, the pharmaceutical industry will likely undergo continued transformation, driven by scientific advancements, technological innovations, and efforts to address societal needs and expectations. Collaboration across the industry, regulatory bodies, and healthcare stakeholders will be critical in shaping its future trajectory.

The post Pharmaceutical & Life Sciences Trends 2024 first appeared on Horton International.

Several key trends are emerging that will help to redefine working practices going forward – and in this article, we will explore the core factors that will be impacting and shaping the way we will all work in 2024 – and beyond.

1. Prevalence of Hybrid Working Models

The pandemic galvanised a significant change in workplace dynamics, spurring companies on to embrace remote working models. Now, in 2024, the concept of hybrid work has become the norm, with many employees opting to work from home part time, while spending the rest of the time in the office.

Businesses from every sector are recognising the benefits of combining in-person and remote work, a model which allows them to offer their employees greater flexibility and a better work-life balance. The traditional 9-to-5 office model is slowly fading, making room for a more fluid approach, tailored to employees’ unique needs and strengths, so they can choose when and where they work best.

2. Rise of Remote Working Collaboration Platforms

In response to the widespread adoption of hybrid work models, many innovative collaboration technologies have now emerged, helping to galvanise innovation, keep workers connected, and enable the sharing of knowledge.

There is now a plethora of virtual collaboration tools, augmented reality, and virtual reality platforms, which are allowing for seamless communication and project collaboration across geographical locations. The future office will not be confined to physical walls but will instead extend into the digital realm, fostering innovation and connectivity on a global scale.

3. Greater Focus on Employee Well-being

As organisations recognise the importance of worker well-being, there has been a notable shift towards prioritising mental health and holistic wellness. Brands are investing in drives that will improve staff wellbeing, like more flexible working hours, mental health days, and wellness programs, to boost the health of the workforce.

There is an emphasis being placed on achieving a healthy work-life balance, as employers understand that if they offer their employees this. they can not only boost productivity, they will improve their ability to attract and retain top talent.

4. Employee Upskilling Initiatives

We are living in a rapidly evolving technological landscape, where wielding the ability to offer continuous learning is swiftly becoming a crucial competency. To address this need, companies are investing in upskilling programs, so they can better equip their employees with the skills they will need for the workplace of tomorrow.

Advanced automation and artificial intelligence technologies are transforming many job roles, making it vital  for workers to be able to stay adaptable. If organisations invest, then properly roll out upskilling initiatives, this will not only benefit individual workers, it will contribute to the creation of a more agile, competitive workforce.

5. The integration of AI and Automation

Artificial intelligence and automation are no longer distant possibilities or science fiction but have become crucial components of the modern workplace. Experts predict that throughout  2024, there will be a seamless integration of AI tools that will help to streamline processes, improve decision-making, and enhance human capabilities.

Rather than these tools replacing jobs as feared, industries as varied as retained executive search consultants to accountants and solicitors are instead using automation to free up employee resources and time, so their personnel can focus on higher value work.

AI and automation will cut down on the time workers need to spend performing repetitive, routine manual tasks to enable a greater focus on the more complex, innovative and creative aspects of their roles.

6. Diversity, Equity, and Inclusion become a Priority

Companies are rapidly realising that they can’t merely pay lip service to diversity, equity, and inclusion (DEI) anymore, as these concepts have moved beyond mere buzzwords and to become fundamental pillars of the workplace culture.

Companies are not only understanding the morality of creating and nurturing more diverse, inclusive workplaces – they are also comprehending the measurable, long-term positive impact of doing this.

By investing in DEI, the entire organisation will benefit from increased innovation and better problem-solving. As we journey through 2024, brands will experience a heightened awareness of the need for greater equality and inclusion across all levels of the company.

7. Expansion of the gig economy

The thriving gig economy continues to expand, buoyed by remote and hybrid working practices. Top executive search firms understand that the gig economy allows individuals the chance to offer up their unique skills and talents on a project by project basis – and gives organisations the flexibility to tap into specialised skill sets on an as needed basis.

This particular trend is set to completely remake the traditional employer-employee relationship and as a result, what will arise will be a more fluid, dynamic workforce. Through the use of talent hunters such as skilled executive search consultants, freelancers and gig workers are able to put their skills and experience to better use.  By matching talent with jobs more precisely, workers will be able to contribute to projects without the shackles of traditional employment, allowing brands to draw from a more diverse, agile talent pool.

8. Renewed Focus on Cybersecurity

Due to the rise in hybrid and remote working, there has been an increasing reliance on digital work, communication and collaboration platforms – and as a result, cybersecurity has become a top priority.

Organisations are seeing the critical importance of ramping up investment in robust cybersecurity measures in order to protect their sensitive customer data and ensure the integrity of their digital infrastructure. The workplace of tomorrow will require a secure, resilient technological foundation and companies will need to be proactive if they want to effectively fortify their defences against ever-evolving cyber threats.

9. Implementation of More Sustainable Working Practices

Environmental sustainability is fast gaining greater prominence in the workplace and employees are demanding that organisations demonstrate more commitment and responsibility. Companies across the board are adopting sustainable practices, from reducing the organisation’s carbon footprint to the promotion of eco-friendly initiatives.

The future of work will not only bring about greater efficiency and productivity – it will also see a rise in more responsible, ethical practices that will contribute to a healthier planet. Workers around the globe are increasingly seeking out companies that better align with their values, including having a raised awareness of the importance of environmental sustainability.

10. Creation of More Flexible Employee Benefits Packages

Traditional benefits packages based on purely monetary compensation are having to evolve to accommodate the diverse needs of a changing workforce. In 2024, companies are finding that in order to attract and retain the best talent, they need to offer more flexible benefits packages that reach beyond health insurance and pension and retirement plans.

There are a range of modern benefits that can be offered to boost the attractiveness of the brand to potential and existing employees – from mental health support and wellness allowances, to a greater work/ life balance via offering remote working stipends.  Going forward, organisations in almost every sector will be seeing the need to update their benefits packages and tailor them to individual employee’s needs, so they can keep their top talent amid a competitive landscape.

Conclusion:

The future of work in 2024  for organisations across the board will be marked by flexibility, adaptability, and a deep investment in the well-being of employees. As technology continues to evolve, brands must keep pace with advancements and invest in the development of their workforce.

The workplace is no longer confined to on-site physical spaces, it now extends into the digital realm, and offers opportunities for innovation and collaboration on a global scale. The core trends set to shape the future of work in 2024 highlight the importance of creating a work environment that’s not only efficient and productive but sustainable, inclusive, and fully supportive of the increasingly diverse needs of today’s dynamic workforce.

The post The Future of Work: 10 Core Trends Shaping 2024 first appeared on Horton International.

Here, we examine some of the dominant trends for 2024 and the future, as also identified by Gartner 2024. These include:

1. AI TRiSM
2. Continuous Threat Exposure Management (CTEM)
3. Sustainable Technology
4. Platform Engineering
5. AI Augmented Development
6. Industry cloud platforms
7. Intelligent Applications
8. Democratised Generative AI

These trends will profoundly affect the jobs market. There is a talent shortage across many of these sectors, while, as has often been noted, there will likely be job losses in readily automated sectors.

AI TRiSM

The applications of AI are far-reaching and impact many aspects of our working lives and leisure. Advocates of AI are already demonstrating many ways AI will improve our lives, yet there is no shortage of warning of the many dangers AI poses.

The primary concerns regarding AI relate to risk, trust, and security. The question is, how do we ensure the reliability and trustworthiness of AI? A potential answer is the AI Trust, Risk and Security Management (AI TRiSM) framework proposed by Gartner, which successfully supports innovation, develops trust, and increases value.

The AI TRiSM framework has three elements:

1. AI Trust includes transparency and explicability, for instance, if and how the AI model achieved the targeted outcomes.
2. AI Risk – the application of governance for managing AI risks, including development and process stages to guarantee the model integrity and compliance
3. AI Security Management – to ensure security at every stage of the process throughout the entire machine learning pipeline, including handling anomalies and vulnerabilities.

It is built on four pillars:

1. Explainability/Model Monitoring – making AI decisions transparent and understandable by describing how models function, documenting their strengths and weaknesses, and examining potential biases.
2. ModelOps covers managing AI models across their lifecycle, maintaining optimal performance and ethical standards.
3. AI Application Security aims to protect models from cyber attacks.
4. Privacy ensures data protection, focusing on individual privacy where sensitive data is prevalent.

Thus, AI TRiSM is pivotal in AI model deployment and management. Gartner claims that organisations deploying AI TRiSM will see an 80% improvement in decision-making accuracy.

Continuous Threat Exposure Management (CTEM)

Continuous Threat Exposure Management (CTEM) is an ongoing and proactive process to identify, assess, and mitigate cybersecurity threats and vulnerabilities systematically and continuously. CTEM aims to provide organisations with a real-time understanding of their security posture, enabling them to detect and respond to threats promptly.

The critical components of CTEM include:

1. Vulnerability Assessment – Regularly scanning and identifying vulnerabilities in an organisation’s systems, networks, and applications using automated tools to discover potential weaknesses that attackers could exploit.
2. Threat Intelligence Integration – Incorporating threat intelligence feeds to stay informed about the latest cybersecurity threats, trends, and tactics malicious actors use.
3. Risk Prioritisation – Analysing and prioritising identified vulnerabilities based on their severity and potential impact on the organisation.
4. Continuous Monitoring – Implementing real-time monitoring solutions to detect and respond to security incidents as they occur. This involves tracking network activities, user behaviour, and system logs to identify anomalies or signs of a potential breach.
5. Remediation and Patch Management – Developing and implementing strategies for addressing and mitigating identified vulnerabilities.
6. Automation and Orchestration – Leveraging automation to streamline and accelerate security processes in scanning, analysing, and responding to threats more efficiently, reducing the time between detection and mitigation.
7. Compliance Monitoring – Ensuring security practices align with regulatory requirements and industry standards.

With CTEM, organisations can move away from the traditional approach of periodic security assessments and instead establish a dynamic and adaptive security posture that responds to the evolving threat landscape. This approach is crucial in today’s rapidly changing cybersecurity environment, where new vulnerabilities and threats emerge regularly. According to Gartner, CTEM can reduce security breaches by 66%.

Sustainable Technology

Sustainable technology within the framework of digital solutions for environmental, social, and governance (ESG) outcomes applies technological innovations to ecological challenges, promoting social equity and upholding governance principles. It aims to support long-term ecological balance and human rights by integrating digital solutions into various aspects of business and society. Sustainable technology can be conceptualised within this framework by:

Environment

• Renewable Energy Solutions – Implementing digital technologies to enhance the efficiency and adoption of renewable energy sources such as solar, wind, and hydropower
• Smart Grids – Utilising digital tools to create intelligent energy distribution systems
• IoT (Internet of Things) for Environmental Monitoring –

Social

• Digital Inclusion – Ensuring equitable access to digital technologies
• Health Tech for Social Impact – Leveraging digital health solutions to improve healthcare accessibility, telemedicine, and health data management
• Education Technology – Implementing digital tools to enhance education and skill development

Governance

• Blockchain for Transparency
• Data Privacy and Security – Implementing robust cybersecurity measures to protect sensitive data
• Digital Governance Platforms – for efficient and transparent governance processes, enhancing public participation and facilitating data-driven decision-making.

Human Rights

• Ethical AI and Algorithms – Ensuring that artificial intelligence and algorithms adhere to ethical principles, avoiding biases and discriminatory practices.
• Supply Chain Traceability

A comprehensive approach to sustainable technology involves the integration of these digital solutions across industries, fostering collaboration between businesses, governments, and communities.

Platform Engineering

Platform engineering involves creating and maintaining robust infrastructure and services that enable developers and teams within an organisation to build, deploy, and manage their applications efficiently. This approach emphasises the concept of internal platforms, each managed by a dedicated product team, to cater to the specific needs of its users. Critical aspects of platform engineering include:

Self-Service Philosophy

• Empowering Development Teams – The core principle of self-service platforms is to empower development teams by providing them with tools and services to manage their application lifecycle independently.
• Automated Workflows – Designing platforms with computerised workflows for everyday tasks such as application deployment, scaling, and monitoring, reducing the manual effort required from development teams.

Layered Architecture

• Modular Design – Platforms are structured in layers, each serving a specific purpose. This allows flexibility, scalability, and the ability to update individual components without disrupting the entire system.
• Abstraction of Complexity – Each layer abstracts the complexity of underlying infrastructure and provides a simplified interface for users. Dedicated Product Teams

Interface with Tools and Processes

• Integration with CI/CD Pipelines – Seamless integration with continuous integration and continuous deployment (CI/CD) pipelines, ensuring that applications can be quickly built, tested, and deployed on the platform.
• Monitoring and Logging Integration – Built-in support for monitoring and logging tools to provide visibility into the performance and health of applications running on the platform
• Scalability and Elasticity – Platforms scale horizontally and elastically to accommodate varying workloads and resource demands.

User-Centric Approach

• User Experience (UX) Design – Prioritising user experience in platform design, ensuring that developers and teams find it intuitive to use the provided tools and services.
• Documentation and Training – Offering comprehensive documentation and training resources to help users understand the capabilities and best practices associated with the platform.

By adopting platform engineering with self-service internal platforms, organisations can accelerate the development process, improve collaboration between development and operations teams, and foster innovation by allowing teams to focus on building features rather than managing infrastructure. This approach aligns with the principles of DevOps and supports the overall agility and efficiency of the organisation.

According to Gartner, 80% of software engineering teams will be platform-based.

AI Augmented Development

AI-augmented development involves the integration of AI technologies, including generative AI and machine learning, to assist and enhance various aspects of the software development lifecycle. The goal is to improve software engineering processes’ efficiency, speed, and quality by leveraging AI capabilities. Some key elements include:

• Code Generation – Generative AI can automatically generate code snippets or even entire functions based on high-level specifications provided by developers. This accelerates the coding process and reduces the manual effort required for routine or boilerplate code.
• Natural Language Processing (NLP) – AI models with NLP capabilities can understand and interpret natural language descriptions. This enables developers to express their intentions in a more human-readable format, translatable into functional code.
• Automated Testing – ML algorithms can create intelligent test automation tools that learn from historical testing data.
• Predictive analytics – ML models can predict potential code areas prone to defects, helping developers focus their testing efforts on critical sections of the application.
• Automated Code Review – AI tools can analyse code for adherence to coding standards, best practices, and potential vulnerabilities.

Other capabilities include performance optimisation,  project planning and resource allocation, automated task assignment, continuous integration and deployment, release management, user interface design, and more. AI-augmented development is an evolving field that promises to make software development more efficient, collaborative, and accessible.

According to Gartner, 75% of software engineers will use AI coding assistants by 2028.

Industry cloud platforms

Industry cloud platforms are specialised cloud computing solutions designed to address particular industries’ specific needs and challenges. These platforms go beyond generic cloud services by integrating industry-specific Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) components into a comprehensive offering with composable capabilities. Key features of this approach include:

• Industry Focus – Industry cloud platforms are built with a deep understanding of the unique requirements and regulations of specific sectors such as healthcare, finance, manufacturing, or retail
• Pre-configured SaaS applications, PaaS tools, and IaaS resources are tailored to the needs of the industry, reducing the complexity of deployment and customisation.
• These platforms are designed with a modular, composable architecture, allowing organisations to select and integrate specific services based on their unique requirements.
• Users can compose their applications and workflows by combining and configuring different components, creating a flexible and customised solution.
• The platforms seamlessly integrate SaaS applications, PaaS tools, and underlying infrastructure. This ensures that data flows smoothly across various components, enhancing interoperability.
• Platforms often include tools and services for handling industry-specific data types, such as patient health records or financial transactions, while ensuring compliance with regulations

Industry cloud platforms offer many advantages over legacy methods. For instance, they deeply understand the specific challenges, processes, and regulations within a particular sector, which is reflected in the platform’s design and features. Seamless integration, flexible scaling, and the Pay-as-You-Go model maximise efficiency; additionally, platforms are designed with industry-specific security measures and compliance features, helping organisations meet regulatory requirements.

According to Gartner, by 2027, over half of enterprises will use this technology.

Intelligent Applications

Intelligent applications leverage AI and other advanced technologies to enhance functionality, learning capabilities, and automation. These applications analyse data, adapt to user behaviour, and make informed decisions without explicit programming. In terms of their nuts and bolts:

• Data Collection – Intelligent applications gather and process large volumes of data from various sources, including user interactions, historical records, and real-time inputs.
• Feature Extraction – Relevant features are extracted from the data to build a comprehensive understanding of the context and patterns.
• Machine learning algorithms are trained on historical data to recognise patterns, relationships, and trends. Intelligent applications often use models that can adapt and learn continuously, improving their accuracy over time as more data becomes available.
• User inputs and continuous user feedback refine models and improve the application’s ability to understand and respond to user needs.
• Applications can make informed decisions, predictions, or recommendations based on the analysis of data and learned patterns.
• Such applications often incorporate NLP and computer vision for communication and object recognition.

Thus, intelligent applications can enhance and personalise user experience, understand and respond to user context, and improve the relevance of recommendations and interactions. Intelligent applications are a pivotal part of the evolving technology landscape, contributing to the digital transformation of various industries by leveraging AI and data-driven insights to deliver smarter, more efficient solutions.

According to Gartner, by 2026, a third of new apps will be AI-driven.

Democratised Generative AI

Democratised Generative AI involves the broad accessibility and usage of generative AI tools and technologies across various users within an organisation and across multiple industries. Thus, the power and benefits of generative AI are distributed widely, making these advanced capabilities available to a larger and more diverse audience. Key features include:

• Widespread availability makes generative AI tools accessible to a broad audience, including individuals, small businesses, and organisations with varying technical expertise.
• Intuitive Tools – The tools associated with Democratized Generative AI are designed with user-friendly interfaces, minimising the need for advanced technical skills to use and understand the technology.
• Democratised Generative AI platforms often incorporate no-code or low-code approaches, allowing users to harness the power of AI without extensive programming knowledge.
• Democratised Generative AI encourages collaboration and knowledge sharing within a community of users, fostering a collective understanding and development of AI applications.
• Some Democratized Generative AI efforts involve open-source initiatives, allowing users to contribute to improving and expanding AI tools.

Democratised Generative AI holds the potential to unlock new possibilities, foster creativity, and democratise the benefits of AI technologies across various domains. By making these tools accessible and user-friendly, it encourages a broader audience to participate in and contribute to the advancement of generative AI applications.

According to Gartner, most enterprises will have used generative AI by 2026.

Finally

From the trends we have analysed, AI and related technologies are undoubtedly on a path to transform industry significantly across multiple domains by introducing innovative capabilities, improving efficiency, and enabling new solutions. Automated creativity, generative design, process and supply chain optimisation,  finance, customer service, cyber security, HR, environmental monitoring, education and healthcare are just some sectors that will feel its impact. While timelines are difficult to predict, experts agree that many changes will occur in the next 36 months.

The effect on jobs will be profound. The shortage of AI expertise is manifested in enhanced opportunities and rewards for the top talent in these fields. At the same time, technology will replace many jobs that can be automated.

Download the report

The post Top Tech Trends for 2024 first appeared on Horton International.

• The impact of AI on the job market
• AI and the increased competitiveness in the job market
• Leveraging AI to improve your job prospects

The impact of AI on the job market

The recent success of generative AI technology, particularly the development of large language models (LLMs) such as ChatGPT, has taken the world by storm and disrupted multiple business and education-related sectors. For instance, AI is routinely used in chatbots, virtual assistants, and customer support applications to provide more helpful and conversational responses; it has been employed to generate a wide range of content, from news articles and blog posts to poetry and computer code; it has been used to improve machine translation systems; and in educational settings to provide personalised tutoring and answer students’ questions.

Such has been the speed of developments in AI that, in some circles, there are concerns that such models could be deployed to create false news and deep fakes on such a scale that it could undermine our modern society and even pose an existential threat. Such concerns are being addressed by creating a regulatory AI environment championed by UK Prime Minister  Rishi Sunak.

While the dangers of existential threats may have been overstated, the less severe impacts of LLMs have also been viewed unfavourably. AI’s potential to cause job displacement is one such area of concern. Automating specific tasks through AI, including customer support and content generation, can potentially impact employment in these fields. On the other hand, while AI may lead to the displacement of some jobs, it could also create new opportunities in AI-related roles.

Furthermore, many job seekers find that LLMs are improving their experiences in job search and job applications. The rest of this article will examine how candidates can leverage AI to improve their job prospects and how employers use it to streamline their recruitment processes.

AI and increased competitiveness in the job market

AI and automation have served to make the job market competitive generally. For instance:

• Eliminating Routine Tasks – AI and automation have been applied in various industries to automate routine and repetitive tasks. This has increased productivity but reduced the demand for jobs involving these functions, making it more challenging for individuals in those roles to find new employment.
• Enhanced Efficiency – AI has improved the efficiency of many business processes, resulting in organisations requiring fewer employees to achieve the same output. This can lead to job displacement and increased competition for the remaining positions.
• Skill Requirements –increased demand for AI-related skills such as data analysis, programming, machine learning, and robotics. Additionally, job seekers may need to update their skills and adapt to new requirements continually. Without these skills and adaptability, candidates may find competing for jobs in such industries more challenging.
• Global Talent Pool – AI has enabled remote work and global collaboration. Job seekers now often compete with candidates from around the world, as companies can source talent globally, making the job market more competitive.
• Higher Education and Training – to remain competitive, job seekers may need to invest in higher education and continuous training to acquire the necessary skills to work with AI, increasing competition for limited spaces in educational institutions and training programs.
• Job Application Volumes – AI is often used in the initial stages of recruitment to screen resumes, analyse job applications, and identify potential candidates, leading to a higher volume of applicants for each job posting, making the job market more competitive.

To succeed in a more competitive job market, job seekers should focus on developing in-demand skills, building a robust professional network, staying adaptable, and demonstrating their ability to learn and embrace change. Additionally, they should use AI tools to their advantage, such as resume optimisation, job matching, and skill development platforms, to enhance their competitiveness in the job market.

Leveraging AI to improve your job prospects

Leveraging AI to improve your job prospects involves using tools and techniques to enhance your job search, application process, and career development.

Resume and Application Optimisation

Understanding how AI tools are used in the initial stages of recruitment can help candidates optimise their resumes and job applications. Using relevant keywords and tailoring resumes to specific job descriptions can increase the chances of passing AI-based screening processes. Some readily available tools and platforms can help you create a well-optimised resume. These tools can suggest keywords and phrases that match the job description and will likely be picked up by applicant tracking systems (ATS).

Do not use a generic resume – always customise your resume for each job application. Always use AI-driven tools to analyse job descriptions and compare them to your resume. These tools can provide insights into the skills and experiences most relevant to the job.

Covering letter assistance

AI-driven cover letter generators can be handy tools. They can help you create personalised cover letters based on the job requirements, offering suggestions for content and language to make your cover letter more compelling. For instance, capabilities of such generators include:

• Job Description Analysis – when you input a job description or details about the position you’re applying for, the AI-driven generator analyses the text to identify critical requirements, qualifications, and skills the employer seeks.
• Content Suggestions – based on this analysis, the AI tool provides cover letter content suggestions, potentially recommending specific language, phrases, or examples to include in your letter that align with the job’s requirements.
• Personalisation – content can be personalised to incorporate your experiences, achievements and other information that the AI will integrate seamlessly into the cover letter.
• Generators can provide additional help, including structure and formatting, language and grammar checks, predefined templates, design and layout, example cover letters, and more.

Again, ensure you always review and edit, both for style and accuracy.

Networking and personal branding

Building a solid professional network and personal brand can give job seekers a competitive edge. AI can help candidates identify networking opportunities and connect with the right people, but building relationships and a positive online presence is still essential.

The advice is to leverage AI’s advantages but don’t rely on it. For instance, use AI-driven platforms to identify and connect with professionals in your industry. While such tools can recommend potential connections based on your interests and goals, you must invest considerable personal effort to use this to build your brand successfully.

Skills, training and adaptability

To remain competitive, job seekers must continually upgrade their skills and adapt to changing technology. For instance, AI has created new job opportunities in data science, machine learning, and AI development, but candidates need the right skills to secure these positions. Take advantage of AI-driven online learning platforms that recommend courses and materials based on your career goals and current skill set. These platforms can help you acquire new skills or enhance existing ones.

In the rapidly changing work environment, job seekers should be adaptable and open to learning new skills. As AI becomes increasingly powerful, its threat to jobs will only increase, so candidates must ensure they keep at the top of their game. Candidates who can demonstrate their ability to adapt and learn quickly will always be more competitive in such a dynamic job market.

Commit to lifelong learning and adaptability by embracing AI-driven learning platforms and resources. Staying up-to-date with the latest skills and knowledge is crucial in a dynamic job market. While technical skills are necessary, soft skills like communication, teamwork, and emotional intelligence remain highly valuable. Candidates who can effectively demonstrate these skills in interviews and job applications can stand out in a competitive market.

Use AI to prepare for job interviews

Using AI to prepare for a job interview can help you refine your interview skills, gain confidence, and increase your chances of success. AI-powered interview simulation platforms and tools simulate real interview scenarios, asking you common interview questions and providing feedback on your responses. Some tools to consider are InterviewBuddy, InterviewStream, and Pramp.

AI interview simulators can also help you practice answering behavioural interview questions that focus on past experiences and how you handled various situations. Prepare compelling stories and examples that demonstrate your skills and qualities. Various tools will provide feedback and analysis of your interview performance, highlighting areas where you excel and areas that need improvement, such as communication skills, body language, or response clarity. They will also help you optimise your answers by analysing your responses and suggesting improvements. AI tools can also help you identify common interview questions for your industry or role. Prepare concise and compelling responses to these questions.

AI tools can even offer suggestions for your interview clothing based on the company’s dress code. They can also help assess your image and grooming. Note that nowadays, some employers use AI-powered video interview platforms, so it is essential to practice video interviews to become comfortable with the format. Pay attention to your lighting, background, and camera setup to present yourself professionally.

Remember that while AI can be a valuable part of your interview preparation, it’s essential to complement it with research on the company and role and practice your responses with human mentors or friends for a well-rounded interview readiness. Additionally, use AI tools as aids rather than relying solely on them, as human interaction and personalisation are critical to a successful interview process.

Finally

In summary, AI has made the job market more competitive. Still, candidates can improve their prospects by staying adaptable, continuously learning, optimising their job search strategies, and developing technical and soft skills. Understanding how AI is used in recruitment and tailoring their approach accordingly can also make a significant difference.

A wealth of AI tools is readily available to help you find and land the right job. You will be missing out by not using them as your competitors undoubtedly will be doing so.

The post Using AI To Inspire And Optimise Your Job Prospects first appeared on Horton International.

1. Authenticity and professionalism

In the world of professional networking, authenticity is the key to success. An authentic profile should present both professional achievements and personal characteristics in a balanced manner. Instead of exaggerated self-portrayal, it is important to authentically reflect real skills and deep commitment to the field.

An example of this is the portrayal of an IT professional who not only emphasises technical skills and professional milestones, but also shares her personal development in the industry. This person could describe their journey from a passion for computer games in their youth, to a computer science bachelor’s degree, to leading complex IT projects at a multinational company. This illustrates how personal interests and professional experiences can lead to exceptional performance and shows potential employers your skills, motivation and unique perspectives.

An authentic LinkedIn profile is more than just a list of qualifications and work experience. Your professional identity emphasises your expertise and personal experiences. With authenticity and professionalism you will stand out and maximise your career opportunities.

2. Long-term planning instead of short-term provocation

A well-thought-out long-term strategy on LinkedIn far outperforms short-lived, provocative content. Martin Krill highlights the importance of writing articles that reflect genuine insights and reflections. This not only demonstrates your understanding of current industry trends, but also your ability to think broadly and constructively – a key trait for any leader.

Let’s take the example of a risk management professional. Instead of focusing on sensational or controversial topics, this professional could build a strong reputation by sharing in-depth analysis about market risks and risk mitigation strategies. Such content demonstrates his ability to analyse complex topics in depth and act proactively.

Short-term provocations may attract attention, but they risk undermining your professional credibility. On the other hand, a LinkedIn profile that offers strategic insights and deep expertise establishes you as a respected voice in your field. By crafting your online presence wisely, you are laying the foundation for long-term success and recognition in your industry.

3. The Power of Networking: More than just a job search

LinkedIn is about much more than just looking for a job. The platform serves as a dynamic career development ecosystem in which headhunters also actively look for top talent for key positions. Think of your LinkedIn profile as an interactive business card that represents you in the digital world. It is a showcase of your professional skills, achievements and ambitions.

Let’s take a project manager in the renewable energy sector as an example. He regularly reports on his projects and green technology challenges. By participating in discussions and sharing insights into environmentally friendly solutions, he shows his commitment and expertise. This activity attracts potential employers and headhunters. Continuous networking and knowledge sharing help to be perceived as an influential figure in the industry.

4. Quality over quantity: depth instead of superficiality

The value of your LinkedIn profile is largely determined by the quality of the content you share. Instead of focusing on the number of posts, you should focus on in-depth and technically relevant content. For example, a financial analyst who shares detailed insights and informed forecasts on market trends not only demonstrates their extensive expertise but also contributes to the knowledge community.

Such high-quality posts can stimulate discussion, increase your visibility, and solidify your reputation as an expert in your field. By providing content with substance and relevance, you position yourself as a valuable resource and opinion leader in your industry. Sharing well-researched articles, in-depth analysis, and personal success stories makes your profile not only informative, but also inspiring and memorable.

And finally … Think authenticity, strategic foresight and first-class content. Bring your profile to life by vividly representing your professional journey and personal experiences – highlight your uniqueness. Say goodbye to short-term stimuli and instead focus on in-depth articles that let your expertise shine and demonstrate your foresight.

Source reference: The original article can be found here: https://www.businessinsider.de/karriere/ideales-linkedin-profil-headhunter-gibt-tipps-fuer-100-000-euro-jobs/?tpcc=offsite_bi_linkedin_bi

The post The Ideal Linkedin Profile: How To Position Yourself For Top Jobs first appeared on Horton International.

From the changing demands of prospective candidates to the rise of AI and the ever-complex logistics of flexible working for the modern workforce, the workplace has changed in recent years. And it’s not just change in the wake of Covid-19 that we need to focus on.

The workforce is changing; and with more Gen-Z entering the office, and attitudes shifting to facilitate more conversations around sustainability as well as inclusion and diversity, we consider a large part of our role to be preparing future leaders for what’s on the horizon.

In this article, we want to focus specifically on the trends which we encourage leaders to look out for in 2024 – not just with regards to their workforce, recruitment drives, and retention strategies, but also across business structures and working practices.

The impact of Gen-Z entering the workplace – and how to prepare for them

The rise of Gen-Z in the workplace is something that we have covered in a previous article – however, it’s something which is continuing to impact the way that businesses are managed. So, in light of this, here’s how to prepare your business and your leadership style for an influx of 20-somethings in 2024.

Gen-Z have different priorities, different outlooks, and often very different ideas and ways of communicating their thoughts in the workplace. In the simplest terms, those who are classed as part of the Gen-Z generation are often viewed as more outspoken and will speak up for their beliefs and what they recognise as being right or wrong. They, in short, have different needs, and different attitudes to the world around them, as a result of their early experiences of work being seen through the “Covid lens”.

From a leadership standpoint, this means recognising the need for a more empathetic approach to leadership; adopting small changes which can have a big impact on these younger and more outspoken workers. One-to-one catch ups are shown to have a positive effect on Gen-Z’s career development, while onboarding and enhanced team building opportunities should be used to help your workforce integrate as a whole.

How to navigate sustainability

Sustainability isn’t just about climate change and reversing your carbon footprint as a business – it’s also about striking the right balance between your social goals and your community presence.

Company ESG goals have been a talking point in the business sector for a number of years now, but have become increasingly important as a result of the enhanced emphasis on social responsibility alongside business management, employee wellbeing, and environmentally friendly operations.

In 2024, we expect to see more businesses and companies opening up about their carbon footprint and the changes they are committed to making to help reach net zero – while philanthropy is also likely to increase with more partnerships between businesses and environmental initiatives. On a more basic level, leaders and business owners are also encouraged to explore small changes that can be made within team structures and the office itself, to minimise carbon output and balance emissions. These include the increased use of video calls over large team meetings, and a continuation of flexible working.

Making your company resilient in the face of increased innovation

You know what they say: if you can’t beat them, join them. The rise in technological innovation is, for some, terrifying. The adoption and integration of AI has increased tenfold in recent years, raising questions about the future of not only specific job roles but entire industries, and causing leaders to explore drastic changes to their businesses in order to retain clients and hold onto their place in the market.

As part of the leadership trends for 2024, we expect to see more companies and businesses protecting their future by embracing these changes – particularly through the creation of teams whose role it is to identify the benefits of such technology and bring it directly into the business.

Once upon a time, social media could have been viewed as an uprising enemy against traditional marketing – yet, with some education and the adoption of inhouse social teams, most businesses across all sectors have embraced the platform as an opportunity.

AI and other technological advancements can offer the same opportunity, provided that leaders like you have faith in your businesses ability to be resilient and adopt – rather than fight – such innovation.

How can leaders stay ahead of the curve – even when we don’t know what’s coming?

The aforementioned trends are things that we can see coming from a mile off, making them easier to anticipate and prepare for as business owners, leaders, and team managers.

However, that’s not to say that 2024 won’t bring with it changes that are more difficult to predict – which is why one of our focus points as we near the end of 2023, is on preparing leaders to be more resilient than ever for the upcoming year.

The increased scrutiny on business leaders, not just considering innovative technology and sustainability, but in how they address individuals, pass judgement on regulations, and communicate with teams, means that resilience is critical and effective communication is integral.

Some of our recommendations for leaders as we approach 2024 include maintaining effective health and wellbeing, both physical and mental, for yourself and for your team through enhanced employee benefits and safeguarding.

Personally, we also recommend investing in your own understanding of empathy and listening as well as acting, getting to know the priorities of incoming candidates and your workforce, and adopting changes which acknowledge and bridge business success with happy and productive employees.

Finally, when it comes to recruitment, take the time to work out what you need before creating job adverts and holding interviews. It is more important than ever to onboard individuals who understand your company goals and can connect with your vision proactively and collaboratively. For recruitment support across your senior leadership roles, don’t hesitate to reach out to us at Horton International.

The post Leadership In 2024: The Trends To Look Out For first appeared on Horton International.

Gérard, alongside Bob Horton, Michael Baak, Luigi Rossi, Miguel de Gomis, and Charles Taylor, played a pivotal role as one of the founding members of Horton International.

After serving as a human resources manager and executive officer at Chase Manhattan Bank, he redirected his career towards Human Resources. In 1983, he founded his own executive search firm. Dynamic, entrepreneur-minded, reliable, and esteemed by both clients and candidates, Gérard propelled Horton France to be one of the most respected executive search firms in Paris. He also held the position of chairman of Horton International for a number of years, leaving behind a lasting legacy.

Gérard spent 33 years working in partnership with Pierre Cazalis de Fondouce, and 20 years alongside Isabelle Istria.

As we mourn the loss of a remarkable leader, we extend our deepest condolences to Gérard’s wife, Monique, his daughter, Nathalie, his son, Fabrice, and his three beloved grandchildren.

We at Horton International, and the Horton International team in France, will forever appreciate the memories of his leadership, mentorship, and the positive impact he made on us all.

C’est avec une grande tristesse que nous partageons la nouvelle du décès de notre estimé président, collègue et ami, Gérard Dietrich.

Gérard, aux côtés de Bob Horton, Michael Baak, Luigi Rossi, Miguel de Gomis et Charles Taylor, a joué un rôle crucial en tant que membre fondateur de Horton International. Après avoir occupé le poste de directeur des ressources humaines et de cadre dirigeant à la Chase Manhattan Bank, il a orienté la suite de sa carrière vers les ressources humaines. En 1983, il a fondé sa propre société de Conseil de Recrutement de cadres dirigeants. Dynamique, entrepreneur et estimé tant par ses clients que par les candidats, Gérard a propulsé Horton France parmi les cabinets de « chasse de têtes » les plus respectés à Paris. Il a également occupé le poste de président de Horton International pendant plusieurs années, laissant derrière lui un héritage durable.

Nous présentons nos plus sincères condoléances à l’épouse de Gérard, Monique, sa fille Nathalie, son fils Fabrice et ses trois petits-enfants.

Horton International et l’équipe d’Horton France, nous garderons à jamais le souvenir d’un leader, d’un mentor et de l’impact positif qu’il a eu sur nous tous.

The post News from Horton France – Gérard Dietrich first appeared on Horton International.

Our Managing Partner for the Middle East, Hazem Al Mubarak reminisced, “Over the past ten years, our clients and candidates trust and support has been the cornerstone of our success. Whether they have been with us from the start or joined us along the way, we cherish the relationships we’ve built and the opportunities we’ve had to serve and collaborate with them.”

“As we celebrate this milestone, we also look forward with excitement to the future. We are committed to continuing our tradition of offering local market knowledge along with global best practices to our clients in the GCC and we are excited about the new opportunities and challenges that lie ahead.”, Maneesh Ajmani, Chairman and Regional Director, EMEA.

We invite all our clients and candidates to join us in these celebrations and thank you for being an integral part of our journey. Thank you for your trust, partnership, and support. Here’s to the next decade of success and beyond!

The post Horton International completes 10 years in the GCC first appeared on Horton International.

As we gear up to head into 2024, more and more companies are considering how to prioritise and balance out these crucial elements. This will be an essential must-do for all organisations in the coming new year, as it will give them a crucial competitive edge. Ensuring employee well-being leads to more productivity and satisfaction, which results in the business’s success.

Today’s market is highly competitive and going forward, if companies in almost every sector want to thrive and sustainably grow – they’ll need to integrate smart strategies that bolster the health and happiness of their employees.

Why is employee health and happiness so pivotal?

Creating a work environment that nurtures health and happiness among its personnel will allow organisations to reap myriad benefits.

Research consistently shows that satisfied and healthy employees are more productive, innovative, and resilient. Levelling up the workforce so it’s primed for peak performance will be vital for achieving long-term success and maintaining a leading edge. Doing this also lowers expenditure and saves on business resources, as it reduces absenteeism, staff turnover rates, and healthcare costs.

Smart Strategies for Prioritising Employee Health and Wellbeing

1. Cultivate a Supportive Workplace Culture

Fostering a culture that values a good work-life balance, as well as mental and physical well-being, will be the crucial cornerstone to thriving in the long-term. Encouraging open dialogue with employees, offering flexibility in working arrangements, and providing resources and support programs for the mental health of your staff is critical.

2. Wellness Initiatives

Wellness programs and initiatives can significantly contribute to a healthier, more productive workforce. Implement programs, such as fitness or health seminars and provide access to nutritious food choices and ergonomic workstations, to enhance the physical well-being of your employees.

3. Encourage Continual Learning

Offering your staff opportunities to further their professional development, upskilling personnel and boosting their career growth will not only enhance overall employee satisfaction, it will also help to retain talent and boost their mental health.

4. Recognition and Appreciation

It’s important to regularly acknowledge and appreciate employee efforts and contribution, to make people feel that their role matters. Recognising the achievements and contributions of all employees will instil a sense of value and purpose, which ensures their loyalty and is vital for their happiness at work.

5. Remote Work Support

Since the pandemic, the work landscape has changed significantly, with hybrid working models rapidly becoming the norm. Facilitating the proper support of remote work and providing the infrastructure for employee cooperation and collaboration will significantly contribute to staff satisfaction and productivity.

What are the obstacles?

Companies looking to successfully implement health and wellbeing programs will find they have to navigate their way around several hurdles.

Budgetary constraints, employee resistance, and a dearth of leadership commitment can all pose a challenge – but these obstacles can be addressed strategically.

Laying down a well-structured plan, having strong communication and cooperation across all relevant departments as well as organisation wide, and securing visible commitment from the top management, will allow businesses to enhance employee satisfaction and enter 2024 armed with a leading edge.

The post Strategies to Prioritise Employee Health and Happiness in 2024 first appeared on Horton International.

Read more in our latest article by:

Yan Sen Lu 

Managing Director

Horton International Japan

Over the past two decades, Horton International Thailand has proudly undertaken hundreds of assignments.

We have engaged with tens of thousands of candidates, assessing around 20,000 CVs to identify the most promising talent.

We’ve shortlisted thousands, enabling us to facilitate over 4,000 interviews.

It is with great pride that we’ve successfully placed approximately 800 exceptional individuals in their desired roles.

This is the essence of what we do—to diligently and effectively complete each and every job, ensuring the right fit for both our clients and candidates.

As we celebrate our 20th anniversary this year, we thank all those who have been part of our journey, and we look forward to many more years of success at Horton Thailand.

View on LinkedIn

Connect with Gary Woollacott

Regional Director Asia Pacific

Horton Philippines and our Strong Ties to the Dynamic Outsourcing Sector

The outsourcing sector, or BPO (Business Process Outsourcing), has emerged as a key driver of economic growth in the Philippines. It has contributed significantly to the country’s gross domestic product, foreign exchange earnings, and employment opportunities.

The country has long been a significant outsourcing partner for Fortune 500 Companies in North America and Europe (and more recently Australia), enhancing productivity, cost-effectiveness, adaption to evolving market demands and customer expectations, and promoting global workforce collaboration.

Over the years, the BPO sector has evolved and expanded, embracing a diverse range of complex work across various industries. The sector has also become more sophisticated, offering specialized services and leveraging advanced technologies. From its early beginnings in voice-based customer support to complex finance, IT and software development, creative and digital services, engineering and architecture, complex data analysis, and more.

Digital transformation, increasing globalization, and even the COVID pandemic has only attracted more BPO contracts to the Philippines. With the increased growth comes the heightened competition for talent. Like most hyper-growth sectors, the demand for experienced leaders has led to intense competition among organizations – especially for executives who have the experience in managing diverse teams, understanding cross-cultural dynamics, and driving global expansion strategies.

Horton Philippines own history and growth is very closely linked to the BPO sector. Our early years coincided with the sector’s own pioneering years, which has given us a great opportunity to learn and participate in its development. Some of our firm’s early key success stories have, in fact, been helping notable pioneering companies in the BPO sector to build and scale its operations in the Philippines. The experience of working on some of the earliest start-up projects for the outsourcing industry has given us the track record and expertise that continues to be relevant today as the sector sets record growth and global leadership.

Connect with Karmeli Kintanar

Director and Vice President for Business Services

Horton International Philippines

Vietnam’s tech industry thrives with Cloud computing, IoT, AI, and Blockchain trends. Despite challenges, its growth potential remains strong, making it a global tech hub. Notable players like Viettel, FPT, Netflix, Boeing, and VNPT contribute to its advancement.

Read more in our latest article by:

Horton International Vietnam

An update from Horton International Laos

Laos has been going through a transformational change over the last two decades, with a significant increase in foreign owned investment. As such, it has become a key hub for Energy, Mining and Manufacturing in the ASEAN region. In the late 1970s large migrations of Lao people settled in the Americas, Europe and Australia. Currently, there is a major focus on capacity building to enhance the labour market within Laos. Over the past ten years or so, a number of international scholarship programs are leading the way to give Lao nationals an international education – to bring them back to benefit businesses. Moreover, a growing trend that international businesses in Laos are seeing, is that some of the Lao diaspora who have grown up outside Laos are looking to return. There are many reasons, just a few are: ageing family members; wanting to be better connected to extended family; and better work life balance. These returning workers bring myriad benefits to the Lao economy, such as international education, diverse work experience and bilingual fluency. In this VUCA business world it is imperative that businesses are agile to the changing needs of clients and the surrounding markets. This largely untapped resource of candidates will give a distinct edge to businesses in Laos to be more competitive within the surrounding markets. Connect with Cara McCartney Principal Consultant, Horton International Laos

I sat across the table from many an exec recruitment business development person during my twenty or so years in HR Director roles.

These days I try to put myself in the shoes of the client HR Directors/CPOs/CEOs with whom I engage as an executive search provider, and ask myself the question that they must (or should) be asking themselves:

‘What can this provider do for us that we cannot do at least as efficiently and effectively ourselves’?

Read more in our latest article by:

Matt Grose

Partner

Horton International Thailand

An update from Horton International China

When I tell people I’m in executive search in China, their immediate response is often, ‘It must be a huge market.’ Unfortunately, that’s not entirely true. While China experiences a significant amount of talent movement, it’s an exceedingly challenging market for executive search consultants. In most global executive firms, including Horton, the Chinese office is roughly the same size as or slightly larger than its Hong Kong office. This is 1.41B populations (2021) vs 7.4M. Why? Unfortunately, many top HR professionals in China fail to recognize the value of retained and exclusive searches. The most common question I encounter is, ‘In a market as vast as this, wouldn’t it be more beneficial to engage multiple parties for candidate outreach? Exclusivity seems counterintuitive.’ What’s the issue? I can think of two, among others. Are consultants actively approaching candidates on your behalf? You may have sent your job description to various consultants, expecting them to reach out to potential candidates. Depending on the position’s specifications and perceived ease of filling it, you might not receive much attention from these consultants. Contingency consultants don’t hesitate to take on mandates (it’s hard to turn down a ‘free’ CV). However, have you considered how much time these consultants will devote to your search when they have over 30 others ongoing? Unless your case is a guaranteed ‘easy sell,’ you won’t be their top priority. Can they genuinely attract candidates? Assuming your position isn’t a straightforward hire, convincing candidates requires a compelling narrative. If you (especially as the hiring manager) haven’t engaged with the consultants (given the sheer number of them), what makes you think they can represent you effectively? Quality consultants can bring qualified candidates to the table, but only if they truly understand your firm’s key competitive advantages and your leadership’s significance. These are the primary reasons why firms like ours insist on exclusivity. It’s not about making more money; it’s about doing our job properly and ensuring you achieve the desired results! Connect with Janet Lui Managing Partner, Horton International China

What is the difference between executive search

and advertised recruitment?

Some potential clients ask why our executive search fees are higher than recruitment firms, this infographic explains why.

It goes on to elucidate why executive search may be the best – perhaps the only – option when selecting people for crucial roles.

Connect with Dr. Deependra (Dipy) Nigam

Managing Partner, Horton International India

The post APAC Leadership Insights first appeared on Horton International.

After Merck Group decided to embed sustainability as an essential component of its corporate strategy, many changes have occurred within the company. In an interview with Dr. Markus Neumann of HAGER Life Sciences Practice, Dr. Petra Wicklandt, Chief Sustainability Officer at Merck, explains how the implementation of their ambitious sustainability strategy is progressing. Find out what changes this brings for applicants as well.

Three years ago, you completely revamped and restructured your sustainability strategy. What prompted this change? Dr. Petra Wicklandt: “We lacked an overarching goal, systematic tracking. Our Corporate Responsibility Department published an annual sustainability report, covering many topics, but the Healthcare, Life Science, and Electronics segments each had different focuses and considerations. The new strategy gives sustainability much higher importance and aligns everyone with what is a priority. We aim to firmly establish sustainable business practices, which, for us, are synonymous with profitable growth. We want to be economically successful and, through our business activities, simultaneously create a positive and measurable societal value. This is the responsibility we carry as a global science and technology company.”

 “We believe that sustainability is not only the best for the world but also the best for a company.” – Dr. Petra Wicklandt, Merck Group

What are the values and objectives that underpin the new sustainability strategy?

“We have defined three pillars or objectives, each with seven focus areas. The years 2030 and 2040 are fixed reference points. We aim to achieve progress for more than one billion people by 2030 through sustainable science and technologies. Our technologies and products are intended to contribute to health and quality of life. The second pillar involves the sustainable design of the entire value chain, including our supply chain. The third pillar is dedicated to reducing the ecological footprint. We aim to reduce waste and improve the quality of our wastewater, among other things. Our goal is carbon neutrality by 2040. We report annually on the current status of the implementation of our sustainability strategy.”

How is the implementation of these three goals progressing?

“Because we have set different priorities, we are at different stages in the implementation of our goals. For Electronics, the most significant challenge is undoubtedly the reduction of greenhouse gases. This sector has the highest CO2 emissions compared to Healthcare and Life Science. In Healthcare, we focus on Social Responsibility, which includes improving access to medicines for vulnerable patient groups in countries where access is more challenging, to innovative drugs, but also to traditional products such as thyroid hormones. In Life Science, we deal with over 300,000 products used in pharmaceutical research. Here, we are examining each product individually to consider how we can make it more sustainable.”

What makes such a comprehensive strategic path feasible within the company?

“It is crucial that the management promotes sustainability and is convinced that sustainability is one of the top priorities. Only then can it work, and only then can the topic be effectively integrated into all business processes. All employees need to be trained and understand how to embed sustainability in their respective areas. A single team cannot drive such a complex topic alone. To embed sustainability in the departments, you ideally need dual expertise: sustainability and business-specific expertise in R&D, production, or procurement. We strive to have employees in all areas who prioritize sustainability.”

Sustainability extends beyond the Merck campus.

“That’s right. In the sustainable value chain we pursue, we keep an eye on our suppliers and customers. For example, we measure not only our greenhouse gas emissions but also the indirect emissions produced by our suppliers when they manufacture products for us. We have already provided Sustainability Assessments for half of our suppliers. Working with suppliers and customers also advances innovation, which we consider a crucial key to the success of our sustainability strategy. In the Electronics sector, for instance, we have partnered with the US semiconductor manufacturer Intel with the goal of developing more sustainable materials for chip production.”

Merck is making its expertise and manufacturing competence available to companies and academic institutions working on the development of cultured meat. Is cell-based meat the food of the future?

“As one of the leading suppliers to the biopharmaceutical industry, Merck has extensive expertise in this emerging technology. We contribute our knowledge through partnerships, including collaboration with startups conducting research on Clean Meat. I firmly believe that, in the future, we will no longer need to kill animals to eat meat. But it’s not just about animal ethics. Clean Meat could eliminate cattle farming worldwide, reducing greenhouse gas emissions.”

By 2040, will we have our own small bioreactors in the kitchen for the production of Clean Meat? “In 2040, Clean Meat will certainly have a relevant market share. The price will determine the extent to which it prevails. Today, cultured meat is still significantly more expensive than conventional meat. I don’t see devices for home use, as the production process from real animal cells is highly complex and requires a lot of expertise. It can only work in industrial production facilities. The vision for the future is that commercially produced Clean Meat products such as beef, poultry, pork, and even fish will be cheaper.”

Is there a responsibility for animal protection within Merck?

“Merck strives to avoid animal testing and promote alternative test methods. We support the internationally recognized 3R principle for animal testing. This involves reducing the number of animals required, refining the conduct of animal studies, and replacing animal experiments with other methods. At Merck, we have added a fourth R, which stands for Responsibility, as we feel responsible for the test animals.”

 “Artificial intelligence is increasingly helping us replace animal testing.” – Dr. Petra Wicklandt, Merck Group

How does this reduction work in practice?

“Our researchers have, for example, developed a new method for batch tests. Some quality tests to release batches of biotechnologically manufactured drugs have traditionally been performed using animals. This involved using more animals than in pharmaceutical research and development. We have now established a process that will no longer require lab animals for batch tests in the future. Artificial intelligence is also increasingly helping us replace animal testing. All this will eventually lead to a time when no animals are used at all.”

How does Merck assess its partners and suppliers in terms of animal protection?

“Merck is one of the companies that has signed the Marseille Declaration on the worldwide adoption of high standards in the internal and external keeping and use of animals for scientific purposes by the pharmaceutical industry. This first joint declaration by the pharmaceutical industry requires adherence to high and uniform standards concerning animal protection and laboratory animal science, regardless of where it is performed. Merck only accepts the highest standards for external animal testing, which are sometimes stricter than those of the respective legislator. For example, in the United States, the minimum cage sizes are much smaller than in Germany and Europe. We do not want to forego the larger cages that meet our standards for our partners and suppliers there.”

Do patients inquire about sustainably produced medicines?

“In areas where medicines decide between life and death, they generally do not. Other priorities are relevant in oncology. Sustainability information is not found on package inserts. However, we find that institutions such as the NHS (National Health Service) in the UK are indeed interested in sustainability. Product carbon footprint, which is the emissions generated during the production of a drug, is of interest.”

How does Merck motivate its employees to act sustainably?

“With our new sustainability strategy, we found open doors, which was amazing. It was well received. We encourage our employees to think sustainably – this motivation is key. We have conveyed our major sustainability goals through training and considerable effort. This is a big but essential task with our more than 64,000 employees worldwide. For business-specific goals, we encourage employees to consider their own ideas. Even our patent department makes a significant contribution to sustainability. There, we have agreed on annual KPIs (Key Performance Indicators) that measure how many patents have a sustainability component.”

Are there financial incentives associated with the sustainability strategy for the workforce?

“The progress in achieving our three sustainability goals is linked to variable compensation for top management and upper management. There are Long Time Incentives that run for three years and where the payout is based on goal achievement. Short Time Incentives include an annual bonus, with sustainability criteria also included.”

How would you formulate your credo?

“We believe that sustainability is not only the best for the world but also the best for a company when thinking, planning, and striving for long-term success. Those who hesitate in implementing sustainability due to rising costs will pay a high price when, for example, carbon prices are expected to increase, and levies become mandatory for more and more areas.”

 “By 2030, we plan to employ 50 percent female executives.” – Dr. Petra Wicklandt, Merck Group

How does Merck shape its talent management?

“In the areas of diversity, equal opportunities, and inclusion, we also pursue very ambitious goals. By 2030, we plan to employ 50 percent female executives – currently, it’s 38 percent. In Healthcare, we are quite close to the goal already. In Electronics, we hope to see more female university graduates in the future. Merck has always been shaped by diversity – we operate in 66 countries and employ around 140 nationalities. We understand that we can only continue to be successful if we create an environment that promotes equal opportunities and inclusion. Beyond the gender target, we aim to attract people who come not only from Europe or the USA. By 2030, we want to employ 30 percent Asian and Latin American executives. We have customers all over the world and want to reflect this reality in our leadership structures. In addition, we intend that our leaders in the USA will comprise 30 percent ethnic minorities – self-identifying as part of an ethnic group is generally seen as normal and is statistically recorded in the United States.”

Is the sustainability strategy changing the pool of employees?

“In principle, we have always placed a high value on a good mix of long-term employees with experience in the company and newcomers from other industries. This is normal and important. With a variety of development and support programs, we provide talents in the various business areas with the tools they need to fully realize their potential. Those who come to us share our passion and vision to improve the lives of millions of people worldwide. With the new sustainability strategy, we have also established new criteria for applicant interviews in close coordination with our HR department. This means that sustainability is a significant part of the selection process and our actions.”

Thank you for the conversation, Dr. Wicklandt!

About Merck: Merck is a leading global science and technology company in the fields of Healthcare, Life Science, and Electronics. In Germany, Merck employs over 12,000 employees, and worldwide, more than 64,000. The company develops, produces, and markets high-quality medicines and innovative products for the biotech and pharmaceutical industries, as well as precise technologies for academic research. In 2022, Merck generated revenue of 22.2 billion euros in 66 countries. The founding family – in the 13th generation since 1668 – is the majority owner of the publicly traded group. Dr. Petra Wicklandt heads the Corporate Sustainability, Quality, and Trade Compliance division of the Merck Group. She is responsible for sustainability and regulatory compliance at the corporate level. Previously, she was head of Corporate Affairs at the company, with areas including sustainability, bioethics, digital ethics, policy, and global health. She has extensive professional experience in chemical and pharmaceutical development and pharmaceutical production. The PharmD has been with Merck since 1994.

The post TOP VOICES Horton International Germany – Interview with International Thought Leaders first appeared on Horton International.

“Our partner conference in Vietnam had an engaging theme: Adapt, Advance, and Achieve. The breadth of topics explored, coupled with the interactive workshops and presentations, undoubtedly broadened our collective knowledge. However, what truly sets us apart is not just the wealth of information exchanged, but the long-lasting relationships that are built during our time together.”  Maneesh Ajmani, Chairman, Horton International

Strengthening Global Bonds: The conference enabled partners to connect with each other, strengthen relationships, share perspectives and experiences, and simply enjoy each other’s company. Meeting Horton’s newest partners face-to-face for the first time not only enriched the group, but also facilitated the potential for new collaborations

Engaging Sessions with AI Experts: The event provided a platform for partners to hear from AI experts, gaining insights into the cutting-edge advancements that are shaping the industry. This allowed for a deeper understanding of the rapidly evolving technological landscape and its implications for the executive search domain.

Inspiring Workshops: Facilitated by an external change management consultant, the day featured dynamic workshops as well as a platform for partners to showcase their success stories, all of which served as a source of inspiration and motivation.

Immersive Vietnamese Experience: Held in the beautiful backdrop of Vietnam, partners not only had the opportunity to engage professionally but also experience the hospitality, rich culture, sounds, and flavours of Ho Chi Minh City.

Reaffirming Commitment and Purpose: These gatherings serve as pivotal moments for Horton International, reinforcing the organisation’s core values and objectives. Partners left with a renewed sense of purpose, reminded of the collective mission and the strength derived from being part of the Global Group.

“The resounding message from our Partners is that this year’s global conference was our best yet! We held inspiring collaboration sessions led by the insightful change management consultant, Larry Chao. Thought-provoking discussions from AI specialists, we explored the profound implications of AI for businesses on both a macro and micro level. We were fortunate to host top economists, who shared unparalleled depth of insight. This conference, undoubtedly, stands as our most engaging and enlightening to date. It was a testament to our commitment to fostering not only business collaboration but also enduring (and new) friendships. I feel very fortunate to be part of such a wonderful group of individuals, and to have been part of such a confluence of ideas.” 

Gemma Van Rooyen, Director of Projects and Board Affairs, Horton International.

The post Celebrating Connections: Highlights from Horton International’s Global Conference in Vietnam first appeared on Horton International.

These days I try to put myself in the shoes of the client HR Directors/CPOs/CEOs with whom I engage as an executive search provider, and ask myself the question that they must (or should) be asking themselves:

‘What can this provider do for us that we cannot do at least as efficiently and effectively ourselves’?

Only through answering this question honestly, through the lens of our clients, can we discern our value proposition.

The below are the same questions on which I used to dialogue with line managers as an HR head when considering any new capability, restructuring or replacement proposition, or indeed any significant business change, and the corresponding HR sub function that could (in theory) undertake the same task in house:

1. Consulting (= Strategic HRBP)

What is the business and competitive context to this role (or roles)? What are the industry trends? What are the competitors up to? Where are the capability gaps between where you are now and where you need to get to? What are the unknowns (the risks)? What are the key high impact job competencies?

To add value as search partners, we must have the business credibility to be able to not only help walk the clients through these questions, but also to offer up our own perspectives and insights built around a deep industry expertise and up to date market knowledge.

2. Searching (= Talent Acquisition)
   What does the ideal candidate look like? What are the personal competency areas that may mean the difference between success and failure? Who are the top candidates for the job? And who should be avoided? Describe the culture of the organization (the real culture as manifested in the behaviors of people to one another).

As a search provider working on mission critical roles, our added value must be built around our reputation with candidates as well as with clients – this means that people know that a call with us is because there is a real opportunity that we have matched them with. Candidates will rarely refuse to speak with a highly reputable and established genuine search consultant, particularly one they know will offer value added career counselling irrespective of whether they eventually get the job.
We also add value by being able to define (objectively) a company’s actual (rather than aspirational) culture and have the wherewithal to know peoples’ personality types and personal values and their likely fit with that culture.

3. Long – Term Partnering (= Performance Management)

Finally, we add value when clients know we are in it for the long game with joint accountability along with the client for the contribution levels of people we have placed long after contractual replacement period clauses have expired.

In conclusion, our true value added lies in our collaborative partnering with clients through which we complement, rather than replace (or ‘out source’), our clients’ capabilities.

The post Why Outsource Search? first appeared on Horton International.

The report emphasises the need for reskilling and upskilling to adapt to the evolving job market. This includes a discussion of soft skills, critical thinking, creativity, and emotional intelligence as complementary skills to technical expertise. The report also addresses concerns related to job displacement and the potential need for policies to support workers in transitioning to new roles.

Here we look in some detail at two priority areas covered by the report:

• Skills outlook including:
  • Expected disruptions to skills
  • Reskilling and upskilling priorities in the next five years

• Workforce strategies including:
  • Barriers to Transformation and workforce strategies
  • Talent availability and retention
  • Talent development

Changing winds disrupt the jobs market

Over recent years and globally, workers have experienced tremendous changes in their jobs and workplaces. Most people were impacted to some degree by lockdowns; eventual returns to work were tentative and partial; many industries failed with significant job losses. Close on its heels came the war in Ukraine with its concomitant disruptions, soaring energy prices and devastating inflation.

All this occurred in the wake of ongoing technological evolution, including the rollout of artificial intelligence (AI) and accelerating demands for a greener global economy.

While each change is a significant challenge, when they happen simultaneously, the degree of disruption is unprecedented, at least since the second world war. Uncertainty about the future is widespread, with many commentators and influencers expressing existential fears and concerns about the forward march of technology and AI.

According to the WEF, 23% of jobs will change significantly over the next five years. Many jobs (69 million) will be created, and many more (83 million) will be destroyed. That’s a global loss of 29% of the current workforce.

However, it’s not all doom and gloom. Green technologies and emerging markets will likely create high demand, translating into economic growth and new employment opportunities. The WEF estimates that around one million new sustainable engineering jobs will be created.

Jobs growth areas

The two sectors likely to see the highest growth in jobs are education and agriculture, with increases of 3 million and 4 million, respectively. The main drivers of this growth are demographics and new technologies. Past supply chain disruptions have affected how supply chain priorities are viewed, drifting away from supply chain efficiency to supply chain resilience. This shift in attitude is likely to create job growth, particularly for Asian and Middle Eastern economies.

The impact of technology and AI on jobs

Technological change, particularly AI,  will create considerable changes in the job market. While the exact consequences may vary across industries and job roles, AI is generally likely to impact the following areas.

• Automation: AI will automate tasks that are repetitive, rules-based, and routine in nature. This will lead to the displacement of specific jobs, particularly those involving manual or repetitive tasks. Jobs in manufacturing, customer service, data entry, and transportation may be affected.
• Job Creation: While automation will eliminate some jobs, it can also create new job opportunities. AI technologies require development, implementation, and maintenance, which can lead to the emergence of new roles in areas such as AI programming, data analysis, machine learning engineering, and AI ethics.
• Augmentation: AI can augment human capabilities and improve productivity in various domains. It can assist professionals by automating specific tasks, providing data-driven insights, and enabling more informed decision-making. This can lead to increased efficiency and productivity in roles across industries.
• Skill Shift: The demand for different skills may change as AI automates specific tasks. There may be a growing need for skills such as data analysis, programming, critical thinking, creativity, problem-solving, and emotional intelligence. Jobs that require these skills and involve human interaction may be more resilient to automation.
• Human-AI Collaboration: The future of work is expected to involve increased collaboration between humans and AI systems. Workers may need to adapt to working alongside AI tools and systems, leveraging their strengths while complementing AI with uniquely human skills such as empathy, creativity, and complex problem-solving.
• Socioeconomic Impact: The widespread adoption of AI may have socioeconomic implications. It could lead to income disparities, as individuals with skills in high-demand AI-related fields may have more opportunities and higher wages. There may be a need for policies and initiatives to address potential job displacement, retraining, and income inequality.

While AI will undoubtedly transform the job market, its impact is not uniformly negative or positive. Jobs are expected to evolve rather than disappear entirely, with new opportunities arising alongside automation. The successful integration of AI into the workforce will depend on effective reskilling and upskilling efforts, supportive policies, and proactive collaboration between various stakeholders.

Supply chain localisation

While supply chains will continue to be disrupted by advancing technologies and AI, a significant impact of recent supply chain disruption is the urgent need to localise supply chains in response to the realisation that supply-chain resilience out-trumps supply chain efficiency.

Supply chain localisation, which refers to the shift from globalised supply chains to more localised or regionalised ones, can significantly impact jobs positively and negatively.

Positive Impact on Jobs:

• Job Creation: Localising supply chains often create new jobs within the region or country.
• Reshoring and Job Repatriation: Supply chain localisation may incentivise companies to bring back manufacturing operations from overseas, a process known as reshoring.
• Economic Multiplier Effect: A localised supply chain has the potential to create a ripple effect throughout the economy.

Negative Impact on Jobs:

• Job Displacement: While supply chain localisation can create new jobs, it can also lead to job displacement, particularly in regions heavily reliant on imported goods or outsourcing.
• Skill Mismatch: Localisation efforts often require a different skill set than globalised supply chains. Workers with specialised skills for global manufacturing processes may find it challenging to transition to localised supply chain roles.
• Increased Costs and Competitiveness: Localising supply chains can potentially increase production costs, including labour, raw materials, and logistics.

Reskilling and upskilling

It is clear from the above that vast amounts of reskilling will be necessary. The WEF estimates that 44% of skills will need to change. There will be growing demands for skills such as analytical and creative thinking. The WEF also sites a growing demand for skills involving technological literacy, curiosity and lifelong learning, resilience and flexibility, systems thinking and AI and data analysis. This goes alongside a decreasing need for global citizenship skills, manual and sensory dexterity, endurance and precision.

Preparing for the future workplace

It is clear from the WEF report that all stakeholders would be advised to prepare for the future jobs market. In the technology-dominated greener deglobalising new world that will likely emerge in the coming years, local skills development will be the highest priority. This finding impacts multiple areas:

• Soft,  interpersonal and general skills will become as important as technical skills.
• For workers in declining fields, reskilling should be a top priority. For those in growth sectors, upskilling and constant learning are needed.
• Governments have a significant role in navigating this new territory and providing needed resources and guidance.

The role of employers

Employers play a crucial role in reskilling and upskilling their workforce. In this rapidly evolving job market, where technological advancements and changing skill requirements are common, employers are responsible for investing in their employees’ development and ensuring they have the necessary skills to meet emerging challenges. Some critical aspects of the employer’s role include:

• Identifying Skill Gaps: Employers need to assess their workforce’s current skill sets and identify any gaps or areas that require development.
• Training and Development Programs: Employers should design and implement comprehensive training and development programs to address identified skill gaps.
• Collaboration with Employees: Employers should actively involve employees in identifying their development needs and career goals.
• Supporting Further Education: Employers can help their employees pursue further education or advanced degrees by providing financial assistance, flexible scheduling, or study leave.
• Encouraging Learning Culture: Employers should promote a learning culture within the organisation. This involves creating an environment that values curiosity, promotes knowledge sharing, and provides opportunities for employees to learn from each other.
• Embracing Technology: Employers should leverage technology to facilitate reskilling and upskilling efforts.
• Monitoring and Evaluation: Employers need to monitor the effectiveness of their reskilling and upskilling initiatives.

A mismatch between needs and upskilling strategies

There appears to be a mismatch between the skills companies claim to be of increasing importance and those covered by corporate upskilling strategies. The highest-rated skills are AI, big data, leadership and social influence, with companies planning to invest 9% of their reskilling budget in these. However, their most highly ranked skill is creative thinking, a full 12 places higher than AI, which will receive a significantly small allocation of the reskilling budget.

Other vital skills emphasised by business and ranking higher than AI include design and user experience, environmental stewardship, marketing and media and networks and cybersecurity.

Developing current workforce

While businesses appear confident in developing their current workforce, they are less optimistic about finding new talent in the next five years. Thus, the main barriers to industry transformation are the ensuing skills gap and the scarcity of new talent. Nearly half of the companies consider better talent progression and promotion crucial in increasing talent availability and more critical than increasing wages, reskilling and upskilling.

Finally

Over the next five years, the jobs market is poised to see unprecedented disruption, at least according to the WEF’s report, which reflects current business thinking. While predicting the future has always been dangerous, the shift in world politics, advancing environmental challenges, and the ruthless advance of technology and AI could have an unprecedented impact. Hiding heads in the sand is an unreasonable response – employers, individuals, governments and other stakeholders must prepare for what lies ahead. Taking the right actions now could turn these current challenges into exciting opportunities.

The post The Changing Jobs Market Over the Next Five Years first appeared on Horton International.

Why would they do that?

There are a few reasons why companies might do this. First, they may be under the impression that all candidates are created equal. This is simply not true. There are a wide range of skills and experience levels out there, and companies need to be willing to pay for the best talent.

Second, companies may be afraid of losing out on a good candidate if they don’t offer them the same salary as their competitor. This is a valid concern, but it’s important to remember that there are other ways to attract and retain top talent.

So they end up hiring average or below-average workers and then are disgruntled by their performance.

This is exactly what happens when companies try to save money on recruiting. They end up with a team of employees who are not as skilled or motivated as they could be. This can lead to several problems, including low productivity, high turnover, and customer dissatisfaction.

Insanity is the act of doing the same thing over and over again and expecting different results.

If companies want to break the cycle of mediocrity, they need to change their recruiting practices. They need to be willing to pay for the best talent, and they need to offer them more than just a competitive salary. They need to offer them opportunities to grow and develop their skills, and they need to create a work environment that is challenging and rewarding.

Offering high-impact career moves is one of the best ways to attract and retain top talent.

Top talent are looking for opportunities to grow and develop their skills. They are not interested in lateral moves that will not offer them any new challenges or opportunities.

A 10% pay increase is not enough to entice top talent to leave their current jobs.

They are often treated well by their current employers, and they are looking for more than just a financial incentive to make a move. They want to be challenged, they want to learn new things, and they want to make a difference.

If you want to attract and retain top talent, you need to offer them high-impact career moves.

This means giving them opportunities to take on new challenges, learn new skills, and make a difference. If you can do that, you will be well on your way to building a team of top talent who are passionate about their work and committed to your company’s success.

The post Recruiting In Japan Is Broken first appeared on Horton International.

The technology trends in Vietnam for 2023-2025 are expected to be dominated by Cloud computing, IoT, AI, and Blockchain, as predicted by FPT Digital. These technologies are anticipated to optimize production, enhance quality, and simplify management across various sectors. The country’s ICT market, valued at USD 7.7 billion in 2021, is projected to grow 8% annually from 2022-2026, with an emphasis on ICT adoption for efficiency and governance.

Vietnam’s government is actively promoting digital transformation, with the launch of the “Make in Vietnam Digital Technology Product” Awards 2023, an initiative to recognize outstanding digital technology products developed and manufactured in the country. The country is also making strides in AI technology, ranking 6th among ASEAN countries and 55th globally in the Government AI Readiness Index 2022.

Despite the promising growth, the technology industry in Vietnam faces challenges. The country’s heavy reliance on exports and weak internal demand, coupled with credit issues and an ongoing corruption crackdown, pose threats to sustained growth. However, Vietnam’s tech industry is showing resilience and adaptability, with Hanoi transforming into a modern district and the country offering tax incentives to boost its digital economy.

Vietnam’s technology industry is at an exciting crossroads. The country’s commitment to digital transformation, coupled with its strategic location and skilled workforce, make it a promising hub for technological innovation. Despite the challenges, the future of Vietnam’s technology industry looks bright, with the potential to become a global force in the tech industry.

Vietnam has indeed emerged as a global destination for technology and digital companies. For example:

• Viettel: As one of the top prestigious technology companies in Vietnam, Viettel has made significant contributions to the IT-telecom and service/software sectors. The company has played a crucial role in the growth of Vietnam’s IT industry, which generated US$148 billion with an 8.7% YoY growth in 2022.
• FPT: Another leading technology company in Vietnam, FPT has been instrumental in driving the country’s digital transformation. The company’s report highlights key technologies like Cloud Computing, IoT, AI, Blockchain, and more, to be widely used in production activities from 2023 to 2025.
• Netflix: The American streaming giant is exploring opportunities in Vietnam’s growing market. The company is examining compliance with a new regulation for streaming services and may open its first office in the country.
• Boeing: The American multinational corporation is also part of the business mission to Vietnam, aiming to enhance partnerships and Vietnam’s aviation and defense capabilities.
• VNPT: Vietnam Posts and Telecommunications Group (VNPT) is another top technology company in Vietnam, contributing significantly to the software and IT services industry. The company has been recognized for its pioneering efforts in digital platform research and development.

Article by: Phuc Hoang Nguyen

The post Vietnam’s Technology Industry: A Beacon of Innovation Amidst Uncertainty first appeared on Horton International.

Understanding younger workers, what they are looking for and how they fit into modern employment practices is key for businesses of all sizes. Research shows that these individuals have clearly defined wants and needs separate from their predecessors.

What all employers and top managers must consider is that, while Gen Z may have a slightly different worldview than older generations, they are still going to be leaders of the future. The question then arises as to how these individuals are supported and encouraged in the workplace to achieve their full potential.

The shadow of Covid

On top of understanding the possibilities for Gen Z employees and finding effective strategies to develop these, it’s important to also understand the role the Covid pandemic has played in recent years.

The experience of many who have recently dropped into the workforce is a lot different to their predecessors – their first introduction to your business may have been through remote working and we should not dismiss the impact this has had. According to the Harvard Business Review:

“For the rest of their lives, the time the world stopped will be seared in Gen Z’s collective memory, a generation-defining moment that instilled deep fears about their uncertain future.”

It’s critical for business owners, managers and CEOs to assess the long-term effect of this start on Gen Z’s working life and how it might influence behaviour and career development in the future.

With businesses mostly back to normal operation now, it’s time to review what Gen Z employees have missed out on and how this can be repaired. This is particularly vital for those who started work during the pandemic itself and may need additional onboarding, however late in the day, as well as other support.

Leaders of today supporting leaders of tomorrow

There’s no doubt that today’s leaders, from CEOs and managers to business owners themselves, have a challenge in helping future Gen Z leaders to develop. There needs to be a proactive rather than reactive approach in identifying and then supporting individuals to help them achieve their career goals.

In short, reactive approaches tend to wait for the potential future leader to emerge. Proactive strategies look for the best in us from the start and help create a much larger pool of effective leaders because they have the support from the outset and no one falls out of the system.

The importance of onboarding

Standard processes such as onboarding for new employees should be about building community and getting to know people rather than a procedure-driven exercise the aim is to learn about rules and regulations. In other words, it’s not a box-ticking exercise but something that has real proactive value to the individual and the business.

The emotional basics

There’s growing evidence that Gen Z is perhaps more in tune and democratic in their emotional responses than perhaps previous generations. Two-thirds want to align with companies, for example, that take good mental health in the workplace seriously.

Emotional resilience is a critical factor when you are developing leadership roles and careers. You need it to survive and thrive.

It’s good that more and more businesses are investing in greater health and wellbeing in the workplace but they also need to follow it through. Key areas that Gen Z may need support in developing include:

• Helping potential leaders to focus on their emotional makeup and how this is likely to drive them in the future.
• Exploring their sense of self and how this fits into the wider world.
• Finding ways to be open about how others see them in the workplace and the impact this is likely to have.
• What value systems the individual has and how these may complement or conflict in their chosen career.
• Developing honesty and integrity. Successful leaders need to nurture authenticity and this can’t happen without a large degree of emotional intelligence and honesty.

Leaders, like all of us, need a sense of purpose but this is unlikely to be fully developed in a Gen Z employee who may still be working to make sense of the workplace itself. This process doesn’t happen overnight and supporting young workers from the outset is key in helping them develop organically, positively and swiftly.

Skills building

Of course, a key part of supporting and developing Gen Z employees is how businesses and organisations build their skill levels. Continuing professional development is as important as ever – skill requirements are in constant flux as new technology, ideas and research come online practically every day.

When it comes to leadership potential, having a clear strategy for skills development is critical in modern businesses. This may mean developing in-house solutions, building connections with education providers and other support externally and introducing approaches such as mentoring, all of which will have a huge impact on individuals. Businesses may also look to rotate and challenge Gen Z employees in new roles so that they have a more rounded experience as well as offering strategic career support.

It’s vital when setting out a strategy that we understand how this is going to help the individual – there is no one-size-fits-all scenario. Mentoring should be a key focus in this development. Research shows us that if someone is coached or mentored well it can greatly speed up their development.

Stress Management Solutions

As we’ve already mentioned, good mental health is something that Gen Z are very aware of and building strategies into your business to support this among the workforce is essential. According to the Health and Safety Executive, there were more than 800,000 people at work affected by stress, anxiety and depression in 2020/21.

A situation that was almost routinely swept under the carpet until recently, is now taken much more seriously by businesses. Research from the American Psychological Association tell us that Gen Z report higher levels of stress and anxiety than previous generations and this is something that has to be addressed by businesses in all sectors as a matter of priority.

Opportunities vs Stagnation

Finally, one of the key components in creating leaders, Gen Z or not, is finding opportunities and not allowing them to stagnate in their roles. Again, this comes down to being proactive and identifying career paths with timely intervention for advancement based on merit and performance.

Summary

Gen Z and those among them who will be the leaders of the future have had their challenges as new members of the workforce in the past few years.

For businesses looking to develop leadership potential, proactive strategies that not only overcome the stagnation caused by the pandemic but positively support CPD, as well as emotional development, is key.

The post How Can Leaders Support Gen Z Employees? first appeared on Horton International.

Younger workers in particular are likely to consider culture, in addition to how much they are being paid and what the role does for their career prospects.

Poor work cultures can often foster bullying and harassment, staff are micromanaged, and employees feel disenfranchised and disengaged rather than optimistic and engaged. In short, many people leave for a better life that fits their values.

Creating a great company culture is not easy. As a business grows and takes on more staff it can be even more challenging to stay in control of this important part of any operation. And once it goes wrong, it can be difficult to get the ship back on track again.

The Great Resignation

This is a real tangible problem for businesses in all sectors and industries at the moment. ‘The Great Resignation’ began in 2021 and is thought to be a direct result of the pandemic, which gave people time to take stock of their careers and what they want for the future.

According to a survey by Microsoft, more than half of us now prioritise health and well-being over work life and 52% of millennial and gen z employees were looking to change jobs within the next 12 months.

There’s no doubt that a big part of people’s discontent is the culture of the company or organisation that they are working for. Creating a great culture takes time and effort, of course, but it can deliver huge dividends if you can get it right. But where do you start?

1. Taking Stock of Leadership

Culture comes from the top downwards and the roles of leaders and managers within the organisation need to be the first point of focus if you want to change. Top talent may be focused on their careers and remuneration but at their heart, they also want to work for a business that has a culture which matches their values.

Ensuring these values and expectations are aligned at the management level is critical – you can’t expect a great culture to reach down to all employees if those at the top are not engaged and enthusiastic too.

In many surveys, a good culture is often cited as one of the main reasons why employees stay with a particular business rather than move on. If you want to retain top talent and build a productive team, it’s a critical part of the jigsaw.

2. Measuring Engagement

As with marketing and turnovers, you can’t understand how your company culture affects individuals unless you have some form of measurement and understanding. Asking the right questions and interpreting the results regularly should allow you to stay focused on what your business means for the people who work for you.

Important questions include whether staff are proud to work for you and whether they would recommend your business to their friends and family. A more complex survey can help you uncover where leadership and employees are aligned and expectations are being met, whether career opportunities are being realised or staff have the necessary training. This gives you the baseline to work from and the direction you need to take to implement changes.

3. Be Prepared to Rethink

You may be lucky and already have a great work culture. Chances are there will be some aspects of the way you operate that you can change to make things better. If employees complain about a toxic culture then you will probably want to do something about it quickly.

Leadership has to be prepared to rethink and focus on the employee experience rather than constantly worrying about their bottom line. A happy workforce is generally a lot more productive and that feeds into success and growth.

It means treating the workforce as partners rather than assets. Get it right and the changes you make and the culture you create can have a profound effect on your success and future sustainability.

The post Three Steps Leaders Can Take to Create a Great Company Culture first appeared on Horton International.

Imagine having dedicated help from the moment you realise that you need a new job. Being coached every step of the way to make your dream job a reality by a professional coach is what transforms lives. As you network with prospective companies and find new employment positions, you’ll be supported to maintain concentration and self-assurance.

There is so much to consider when deciding on that next step. This is why career coaching from specialist experts at Horton International is on-hand to support and guide you to map out your career and help you take your next step confidently.

What is career coaching?

Career coaching from Horton International also provides transition support to those who want it. This service helps you to make a career switch or a career transition. Professional career coaches help individuals explore their purpose, values, and experience to create a practical, comfortable, and self-assured transition from one career to another.

From personality profiling to assessing abilities and interests and understanding personal and professional goals, career coaching explores various areas to understand exactly what you want from your career and how to get there.

Working with a career coach

Over several sessions – typically between 60– 90 minutes- a career coach will use a range of exercises with the coachee to deliver self-awareness and understanding and then set out specific actions to help get the desired outcome for the individual.

Working with a career coach is an energising and rewarding activity and can sometimes be intensive. The process helps individuals to recognise their achievements and boost their confidence.

With career coaching, outcomes include;

• Exploring new career options in a safe space
• Reflect on personal skills and attributes
• Define strengths and transferable skills
• Identification of gaps in knowledge and expertise
• Resume editing and tailoring
• Guidance on your current LinkedIn profile
• Network building support
• Action plan that takes you toward your chosen career
• Follow-on support.

Is a career coach right for me?

A career coach can be a great source of support for those who feel unfulfilled in their current career but are unsure of the next steps. It can also be helpful if you know which career you want to switch to but are unsure how to leap.

Career coaching can also be ideal for those who need support in showcasing transferable skills or adapting resumes to attract recruiters in this new field with the help of a career expert.

A career coach can also be the ideal source of support if you’re unsure if career switching is the right choice. A career coach provides unbiased support but with powerful questioning and a toolkit of exercises to help you fully explore and review all available options.

Career coaching is also helpful if you decide to stay in your current career. Instead, you may find you have renewed motivation and a greater purpose which can help you reconnect and reignite your passion for that career.

How to start working with a Career Coach

Understand expectations

A career coach will not tell you what career you should do or which organisations to apply to. Instead, a coach will work with you, asking questions and really listening to your responses. They will allow the space and time to talk through what’s going on for you in a safe, non-judgmental manner. They may reflect on their observations to help you explore options and make the right decisions.

It is important to realise that a career coach isn’t there to tell you what to do; they also aren’t counselors or therapists and won’t be able to provide a diagnosis, for example. However, they do recognise that other factors in your life may play a part in your decision to switch careers.

Look for rapport

The most valuable coaching is with someone you feel has a genuine rapport. A coach may ask some challenging questions, and it’s crucial that you feel comfortable being completely honest with that person.

A good connection, where you feel happy to open up, can make all the difference in creating a successful coaching outcome.

Set a goal or intention

The great benefit of coaching is that it can often cover multiple areas in just a few sessions. However, with a clear goal or intention, you can maintain focus and ensure you get the most out of the sessions.

You might have a big goal of switching careers, but there may be challenges you’d like to overcome in the sessions, such as confidence in interviews or help with conflict at work. These smaller goals can all play a part in your bigger goal of a career switch.

Get started today

If you’d like to get started on a career change journey, or even just discuss the next steps to getting started, get in touch with Horton International today.

The post Career Coaching – How to Transform Your Career and Become More Successful first appeared on Horton International.

Some of the drivers of the Great Resignation include:

• Dissatisfaction with wages which have stalled post-pandemic
• Inflation and the rising cost of living
• Disruption resulting from the war in Ukraine
• Lack of opportunity to advance careers
• Unpleasant work environments
• Dissatisfaction with remote working policies
• A general long-term lack of job satisfaction

While the Great Resignation affects many job sectors, education, hospitality, and health care are the most affected.

The generation gap

Today people demand a more relaxed work/life balance. Working from home has proven popular, with many workers reluctant to return to the office, despite senior management and the government’s pleas. There is also a powerful generation effect, with Millennials and Generation Z spearheading the work exodus. While records numbers of employees are quitting their jobs, a far more significant proportion, up to 40%, are considering doing so.

But it isn’t exclusively the younger workers leaving their jobs. Many older employees, tempted by the possibility of early retirement, cast off the shackles of employment for a life of leisure. Such workers are unlikely to ever return to the workforce.

Keeping workers happy

The mass exodus of workers is significantly impacting businesses, other organisations and the economy as a whole. The result is companies are failing to recruit the talent they need and are similarly failing to retain existing workers. Consequently, they are falling behind in technology and innovation, with enormous implications for future prosperity.

But how do companies overcome this worker retention problem? Is it just a matter of keeping employees happy, and if so, how to achieve that, or are more profound, less transparent forces at play? To put the problem facing business into perspective, according to a McKinsey survey, one-third of respondents anticipate quitting their job within three to six months. In Poland, the number is even higher – fifty per cent of workers want to quit.

Why European workers are quitting their jobs

Focussing on European workers, the following chart summarises the primary reason why European workers are quitting or wish to leave their jobs (data taken from McKinsey).

The main drivers to quit are inadequate compensation and the lack of a clear career path; however, the lack of caring leadership is also a big motivator. Many workers also feel under excessive stress as the demands are unsustainable. The lack of meaningful work, inadequate support for their health and well-being, and lack of flexibility in the workplace are also significant factors. On a lower level, though still important, are factors such as lack of support from fellow workers, travel issues, unsafe workplaces and inadequate resources.

Not all workers are unhappy

So far, we have focussed on the negative, reporting that forty per cent of the European workforce is unhappy with their jobs. But looking at the other side of the coin, sixty per cent are happy and are not considering leaving. While it is likely that similar factors are at play, we can assume that they are reasonably satisfied with their compensation, career advancement opportunities, leadership and so forth. Presumably, they are not wilting under the pressure of excessive demands being placed on them.

It would be a mistake for organisations to focus entirely on the workers thinking of leaving and concentrate their efforts on persuading them to stay. Instead, it would seem that the most critical group to satisfy are those workers who do not feel the desperate need to go. Given that they are reasonably satisfied, maintaining their satisfaction levels would require less effort.

However, splitting workers into two groups – those who plan to go and those who plan to stay – oversimplifies the situation. It would be better to consider the workforce as split into four distinct bands:

• Workers who are happy with their job but are looking for greener pastures elsewhere
• Workers who are leaving because they are dissatisfied with their job
• Worker staying who are satisfied with their job
• Workers who are staying but are generally disgruntled with their job

Although the last group are unlikely to leave in the short term, they are also unlikely to be engaged in their work and are unlikely to perform to the best of their potential. In some ways, they might be considered a liability. These workers might fall into the trend of doing the very minimum they can get away with to avoid getting fired, with is not a good place for them and a negative force for their employer. This group is often called the “quiet quitters”, and the number of people who fall into this category is surprising, even disturbing. According to Gallup’s 2022 engagement numbers, fifty per cent of the US workforce falls into this category. Just thirty-two per cent of workers are fully engaged, and the remaining eighteen per cent are actively disengaged.

A possible retention strategy

So far, we have examined the numbers of workers quitting or thinking of quitting their job and why they are doing so. We have also looked at quiet quitters. Next, we will consider a possible strategy that employers could adopt to retain their workforce, keeping the workers they have, attracting new young workers, and restoring levels of engagement and productivity.

Pay above-average salaries

As we have seen, dissatisfaction with salaries is the biggest driver of staff attrition, which has probably always been the case. The need to earn more money is considerably exacerbated in a low-growth economy with rising prices and high-interest rates. So paying your workers more than the average salary seems an obvious way to retain your workforce. It is also probably the most effective. It can undoubtedly keep workers tied to the workplace in the short term. And if you include an incremental retention bonus in their annual compensation, they might be persuaded to stay with you longer than they otherwise would. People are more likely to be motivated if their personal success makes a difference to the firm’s success. Tying staff success to business success is another way of encouraging retention. Employees should also profit through increased salaries or other perks when the business does well.

However, be warned that there are potential downsides to paying above the industry average. One possible repercussion is that the enhanced salary might make the employee appear more desirable to the competition – if you consider them worth the extra money, perhaps they are. Indeed, staff can use their enhanced salary to attract alternative employers.

Also, you have to be fair. Paying new employees more than old and trusted employees is a dangerous practice. However much you might try to keep individual salaries a closely guarded secret, eventually, the truth will come out. If older employees discover that new recruits are earning significantly more, you can anticipate stormy waters ahead.

Address your recruitment strategy

Are you recruiting the right people motivated to commit to the business despite not receiving above-industry standard remuneration? Selecting people of this calibre isn’t easy, and perhaps they are a relatively rare breed, though this kind of loyalty can be encouraged through multiple means. Psychometrics is a powerful tool for digging down into what drives people. It can help differentiate between those recruits who are likely to become team players and those who are not. That isn’t to say you should only recruit team players – some outstandingly talented people are natural loners, so don’t let them slip through your fingers.

What you should avoid during the recruitment process is the bias many businesses are prone to, where each recruiter is looking for a personal clone. Such teams never vary in outlook and strength, with each member having similar characteristics and backgrounds.

Onboarding is also an essential step in the recruiting process. It is one opportunity for employers to make a lasting impression on recruits. Organisations that evoke an “us and them” attitude, where alienation between workers and management is the norm, will never succeed in retaining their best talent. Recruits need to feel at home from the off and welcomed into the band of happy, motivated workers, so they quickly find themselves vital team members.

Address your working-from-home model

The ability to work from home is an essential asset for both recruiting and retaining staff. However, inadequate workplace flexibility is one of the more significant drivers of quitting, and the effect is increasing. The staff turnover rate of office-based staff (41.6%) was significantly higher than both hybrid (36.6%) and remote (38.7%) working models in 2022. This imbalance reverses pre-pandemic staff turnover rates when remote workers (33.0%) were higher than office workers (30.1%).

Remote and hybrid working can benefit both employees and employers. It saves money and time on commuting, leaves more time for non-work activities, and broadens the talent pool of potential recruits. In addition, remote working means that companies can attract talent worldwide. As a result, it can powerfully impact your retention rate.

Invest in staff development

Employees who feel they are learning and growing from their employment are less likely to leave. Motivated employees generally hope to enhance their careers, and employers have much to gain by providing employees with opportunities to do so and encouraging them to take up those opportunities. While the downside is that these enhanced skills will make the employee a more attractive prospect to the competition, at least the current employee will benefit from the same skills until that happens.

Chasing a declining talent resource

Recruiters are facing multiple challenges. The Great Resignation is a real phenomenon occurring at both ends of the generational spectrum. However, the loss of talent from Generation Z and the Millennials is arguably more worrying than the loss of older workers to early retirement. Overall the talent resource is declining while the need for staff is increasing, exacerbated by the speed of new technological developments.

As we have seen, there are multiple reasons why people quit their jobs, and there are some practical steps employers can take to lessen this trend. However, whatever measures employers take, people eventually leave, and often the very best people are the first to do so. Unfortunately, dead wood tends to hang around the longest. Hopefully, those who leave will do so with a positive spirit and warm feelings towards their previous employer, thus encouraging others to join.

The post How Companies Can Retain Their Workforce first appeared on Horton International.

What is that intangible quality that boards look for when appointing a new Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and others?

Here we look at the C-suite skills that boards consider to be the most important of all, focussing on:

• Yesterday’s model – why today’s c-suite executives need a different skill set
• Soft skills – what are they, and why do they matter?
• The relationship between organisation size and its focus on soft skills
• The relevance of automation to soft skills
• C-suite celebrity status
• Getting your message across

Yesterday’s model

Times have changed rapidly over recent years. The pandemic, the Ukrainian war, another financial crisis and many other vital issues have significantly impacted our views. While a few years ago, the essential skills a c-suite member could have were sound knowledge and experience of their industry and related financial matters, today, strong social skills are in the ascendency. While technical and administrative expertise and a successful track record are still essential, they are no longer enough. Previous success is no guarantee of future performance nor a predictor of C-suite excellence.

While motivating teams has always been important for C-suite professionals, the teams they need to motivate have become more diverse, technologically wiser, and global. In addition, C-suite executives must deal with many different kinds of stakeholders, including governments and NGOs. As a result, they must hit the ground running despite unfamiliar territory and encountering challenges of which they were previously unaware.

Selecting candidates able to meet these criteria is a considerable challenge for executive recruiters. The old selection tools no longer work as well as they did. Yesterday’s model is being replaced with a new niftier version.

Soft Skills

Today’s C-suite manager needs what we refer to as soft skills. These are non-technical skills that significantly impact how you perform in your role. In essence, we are talking about social skills, such as interpersonal skills in communicating, building relationships, and interacting with others.

Of course, there is nothing new here. You probably noticed that over recent years C-suite jobs have increasingly called for candidates with social skills with less weight placed on operational excellence.

People with strong social skills are naturally self-aware, listen to other people and are great communicators, can work well with anybody without prejudice, and have a well-developed theory of mind. In other words, they understand how other people think and feel.

Solid social skills are more critical in some situations than others, for instance, in larger organisations. And it’s not just C-suite executives who need them. They are becoming increasingly important across the workforce generally. We will look at these factors in more detail.

Size matters

There is a strong correlation between an organisation’s size and its focus on social skills, particularly with organisations expanding through mergers and acquisitions. In such organisations, executives must take a leading role in selecting the right people for the right jobs, handling internal communications, and interfacing with the outside world, including regulators and customers. Maintaining thriving relationships with all these actors is vital and requires extraordinary social skills. Therefore, highly developed social skills are critical to success in all those areas.

The diversity and number of those relationships can be daunting. Executives at public companies have to worry not only about product markets but also capital markets. They must brief analysts, cajole asset managers, and address the business press. They must respond to various kinds of regulators across multiple jurisdictions. They’re expected to communicate well with key customers and suppliers. During mergers and acquisitions, they must attend carefully to constituents important to closing the transaction and supporting the post-merger integration. Highly developed social skills are the key to success.

Automation creates extra demands on social skills

Digital transformation is changing just about every industrial sector. It seems like everything that can be automated has been or is in the process of being automated. Managing such change that affects everyone’s jobs and how a firm interacts with its suppliers and customers requires a deep understanding of the challenges individuals and groups face at both work and personal levels.

Executives with the necessary strong social skills can excel in such roles. Moreover, they tend to be highly motivated to do so, especially when there is the opportunity to shine in the eye of the public and executives in similar roles with competitors.

Celebrity status and social media

Today, top CEOs, especially those in the technical sectors, have celebrity status. Think Elon Musk, the late Steve Jobs, Bill Gates, Jeff Bezos, Mark Zuckerberg, Warren Buffett the list goes on. Although social media amplify their status, the phenomenon isn’t new. Henry Ford, Cornelius Vanderbilt, and many others have been household names in the past. While few CEOs gain such acclaim as those individuals, today’s C-suite executives are expected to assume a public role and represent the face of the business to customers, investors and employees. Not everyone is cut out for such a role. While some people thrive in the limelight, others may wither in the heat.

The face of social media leaves nowhere to hide. Therefore, executives must deal positively with all that comes at them and think on their feet in real-time in an unforgiving environment that can quickly grow hostile. Although historically, executives have been accountable to their various audiences, never before to the constant pressure placed on them today. To thrive in such circumstances requires extraordinary social skills and emotional intelligence.

Getting your message across

Even if you believe you have the requisite skills to become a top-flight C-suite executive, you need to be able to convince those who have a role in hiring you that you have what it takes. Furthermore, once you have landed the position you have set your heart on, you must perform at the top of your game to sustain it and keep your board members onside. Unfortunately, while recruiters know the importance of good social skills in their senior management teams, they tend to lack tools to assess how well candidates will perform in the real world.

Often recruiters turn to psychometric tests and simulations designed to assess behavioural and personality traits. While these can be revealing, they generally fail to predict the effectiveness of the individual in dealing with the kinds of pressure under which top C-suite executives must thrive. Given that recruiters tend to lack a clear recruitment methodology to divine the best candidates,  getting your message across is far from easy. But that is what you must do to land that critical role.

New tools and techniques to assess c-suite candidates are being developed, often leveraging artificial intelligence and machine learning while eliminating bias. But it is a long road before they can reliably deliver what they promise. In the interim, C-suite candidates should work on their soft skills

Finally

While C-suite professionals must possess the same excellence as they always have in essential administrative and operational skills, they also need highly tuned social skills to stand out from the crowd. This requirement is more heavily emphasised in larger technical and complex organisations. While these soft skills come naturally to some people, others must work hard to hone them into the skill set organisations need.

But candidates must also face the additional challenge of getting their message across. While organisations may have an insight into the skill sets they seek, they still lack the objective means of thoroughly assessing them. This will change over time, though the takeaway for candidates is to work on their social skills and ensure they are recognised.

The post Important Skills For C-Suite Leaders first appeared on Horton International.

These programmes have been introduced to help tackle the problems that many workers face when returning to work after time away. Often, they struggle with technology skills or a lack of confidence after a long period away from work.

Women are often the ones who benefit from returnships, but they can be an excellent tool for anyone looking to get back to working life after a break. The Office for National Statistics (ONS) revealed that there are 1.8 million women in the UK not currently in paid employment because they are caring for family, compared with just 200,000 men in the same position.

Nearly 500,000 of these women want to return to work, and this is a task that isn’t always easy. A report by PwC found that three in five women returning to work after a career break find themselves in roles that are below their potential.

Returnships Bring Many Benefits To Both Returners And Employers

When an individual has taken a break from their career, getting back into it is certainly not easy. Returnships give these workers the chance to pick up again where they left off and create a structured routine for getting back into working life.

These returnship programmes don’t always mean workers have to go back to the same role or industry they had before and can be used to help individuals go into a different position after a break.

With returnships, people do not have to begin their career from the bottom and can utilise their previous experience once again.

From an employer’s perspective, returnship programmes allow you to access a diverse, high-calibre pool of talent. You can easily assess an individual’s ability to conduct a role before offering a permanent position, making returnships a low-risk strategy for bringing in new workers.

While returners might have been out of work for some time, they still often have a lot of valuable experience from prior to their break. Furthermore, this is knowledge and skills they will not have forgotten. These individuals often just need some support and guidance to improve their use of the latest technologies or software.

Many returners also developed a lot of transferrable skills during a break, such as multitasking, time management and organisation. These are all skills which many parents taking career breaks can bring to the table on a returnship programme.

How Returnships Promote Diversity And Inclusion

Many companies are now taking crucial steps to improve diversity, equity, and inclusion in the workplace. Apart from just being the right thing to do, promoting DEI brings many benefits to a business. Having a diverse workplace will improve employee experience and bring new perspectives and viewpoints to your organisation.

Not only that, but a diverse workforce can actually help improve your bottom line. Companies with a diverse management team enjoy 19% higher revenues than those without.

Returnships are an excellent way of promoting diversity and inclusion in your company. More and more organisations who are investing in returnship programmes are seeing an improved ability to attract and retain talent while also furthering their diversity agenda. This is particularly true for getting more women into senior positions after career breaks.

In fact, it was recently reported that 90% of those taking part in returnships were women. Generally speaking, it is women who take career breaks to care for families and children, and getting back into work after this time off is a challenge.

It isn’t just women who benefit from returnships, and many other individuals could use these schemes to get back into work. Those facing disabilities may have been forced to take time away from work and could use a returnship to pick up where they left off.

Workers relocating from other countries could have taken a career break and benefit from a returnship programme on arrival in the UK. Making it as easy as possible for those who have been out of work for a while to get back into the swing of things and join your team will work wonders for your DEI.

How To Invest And Improve Returnship Programmes For Your Organisation

Whether you already run a returnship programme or you are considering starting one for your business, there are a few things to bear in mind. You must understand that the cost of having a returnship scheme is likely to be high, and a lot of work and effort needs to be put in for it to work well.

A returnship programme should not be considered an extra initiative to an existing scheme but a consistent and embedded programme for boosting DEI. This kind of approach will never work if the rest of the organisation is not geared to promoting diversity.

Take the time to use data and evidence to build a returnship programme in your organisation. Assess where you might have skill gaps and determine where returners can integrate into your business.

It is often best to start with a small returnship scheme and expand it gradually so that you can give returners the support and attention they need to succeed. Make sure employees on your returnship programme have one point of contact who they can go to if they have any concerns or issues.

Returnship programmes will only be a benefit to your business and improve your diversity, equity, and inclusion if they are successful. Your aim is to attract quality talent and help them harness their existing skills and get up to speed with the latest technologies. Returnship schemes should see excellent retention rates when done properly, as returners move from the programme into permanent roles in the business.

The post Improve Returnship Programmes For Your Organisation’s DEI first appeared on Horton International.

From technology development and market demands to employee priorities and workplace disruptions, organisations are navigating a significant challenge ahead. However, there is a solution and that lies within learning and development.

Closing the skills gap

When the skills of the current workforce do not meet the needs of a specific job, role or process, this creates a skills gap. The apparent response to this is to recruit workers with the skills the organisation needs. However, this isn’t the only option, and there are several strategies organisations can put in place.

Unfortunately, many people feel like organisations aren’t doing enough when it comes to closing the skills gap. For example, just 28% say their organisation is making effective skills gap decisions, and just 41% of organisations understand how roles may be disrupted by the skills gap.

The main reason organisations struggle to address this skills gap is the visibility of skills within the existing workforce and identifying the anticipated disruptions to the roles within the organisation. Understandably, as technology progresses so rapidly, it can also be hard to predict what skills will be needed.

This is where creating skills and competency matrices using people data can be a great place to start, alongside an organisational SWOT analysis to identify the areas that need support.

The benefits of L&D for closing the skills gap

Organisations are facing two significant challenges right now; one is seeking out talent with the specific skills they need while also managing existing employees and retention rates.

Focusing on learning and development is a way to address both of these concerns. By reskilling and upskilling, employees can help the organisation find the skills it needs in-house while prioritising professional development for staff helps to manage retention rates too.

How learning and development benefits employees

Focussing on professional development for your workforce, whether soft or hard skills, training, coaching and mentoring offers a range of benefits for staff, including:

• Reduces burnout
• Boosts engagement
• Increases job satisfaction
• Honour employee strengths

How learning and development benefits employers

While learning and development do require investment from employers, it gives distinct advantages such as:

• Stay competitive
• Have skills they need
• Build a strengthened workforce
• Allows organisations to “hire bigger”
• Stronger employer brand
• Attract new employees.

Proactive upskilling

One of the main issues with the skills gap is that organisations are in a reactive state. It is often not until that skill is in demand that organisations start to search for it. Unfortunately, by this point, it is often too late to identify talent within the existing workforce who can help or begin training them to be ready for that specific role.

As a result, many organisations resort to seeking the skills by hiring new people and using additional resources in hiring and training rather than investing in developing current staff.

However, by being proactive with upskilling and planning for the skills the organisation needs for the future, organisations can get ahead of their competitors in terms of being skill-ready. In addition, offering new development opportunities and skills to the current workforce can help maintain employee engagement. It shows your commitment to talent development and provides staff with the opportunities to grow and tailor their career in different ways.

Currently, it is estimated that low engagement in organisations creates a staggering $7.8 trillion cost to the global economy. However, if organisations can focus on engagement through professional development, it proactively benefits the business and increases engagement and retention rates too.

Skills gap: looking within

Many employee reviews focus on the work they are currently delivering. These discussions often need to be more open for employees to express their desires for new challenges or a different career path.

However, People data within the organisation is a great way to start mapping out the skills within and the most effective way to close any skills gap you face. Understanding the organisation’s current skills, including skills employees may be developing outside of the organisation for personal interests, can help you understand where the strengths and opportunities of the business lie.

Gathering People data, in terms of their experience, current roles, CPD, and interests, can help to create career paths and development plans for the team. With this, you can predict future movements within the business and start investing in the right areas of upskilling that individuals need or want.

It is also important to see this upskilling as an investment. These are skills that help to build employee engagement and retention, which lowers recruitment costs, but also is an investment into future business operations and opportunities. The return on investment for training your talent can be extensive. Not only this, but it builds a culture that can help to attract new talent to the organisation, creating a continual loop of talent, skills development and a positive workplace culture that gives the organisation a competitive edge.

Unlocking opportunities

Opening up the learning and development the organisation provides can create huge opportunities for your staff to harness their career path within your organisation. At the same time, organisations can reap the rewards of a highly skilled, motivated, engaged and passionate workforce.

The post How L&D Can Unlock Your Competitive Edge first appeared on Horton International.

As we go beyond the hype, we are exploring four tools that can take executive performance to the next level with Generative AI, enabling you to spend more time on what truly matters.

• Rationale

Built by Jina AI, Rationale is your decision-making companion. Tell the tool a decision you have been contemplating and it will come back to you with a list of Pros and Cons and a general recommendation on that topic.

This is just the tip of the iceberg. Rationale can also help you put several options against each other (go fully remote, go hybrid, bring everyone back to the office, build a SWOT analysis, or create a casual chain (also known as decision tree).

As with all Generative AI tools, don’t necessarily take what it says for gospel, but we can’t help but feel it’s the second-best thing to having a strategist to help you plot your moves and foresee and pre-empt potential backlash from decisions you need to make.

• Perplexity

Then comes Perplexity.ai, a tool that will remind you of the one you already know, but with two major differences.

First, the data is up to date, unlike the tool you already use, which is restricted to data up to 2021. And secondly, it actually offers you sources to back what it has to say and allows you to deep dive and validate for yourself what it is saying. Think Google Search adopting Generative AI rather than presenting you pages and pages of results.

The premise is relatively straightforward. You ask it a question, it provides you an answer with several sources that it used to firm the answer up, and you can either leave it at that, consult the sources, ask a follow-up question, or select among the suggested follow-up topics for you to explore further.

• Tome

Tome is the presentation builder you never knew you needed. Give it a topic to write about and within seconds you will have a full-fledged presentation built for you, with a well-thought structure, a table of contents, illustrations to support your text. You can then take its initial draft and refine the messaging, positioning, and imagery (generated by Dall-E2).

Like most Generative AI tools, the power of the output is in the input, or the prompt. For it to give you something meaningful, avoid giving it generic titles and instead be specific in terms of which side of an argument you fall on.

• Midjourney

Midjourney is the most popular solution we cover in this article. As a matter of fact, it had a surge in popularity a few weeks before the one we promised not to mention. Midjourney is an incredibly powerful image generation tool and can create, in seconds, ultra-realist drawings or photography – its quality is so breathtaking, it actually won an art prize at the 2022 Colorado State Fair.

As an executive, Midjourney is your storytelling’s best kept secret. The clichéd sentence does say that an image is worth 1,000 words, but finding the right image is easier said than done. Often, the image doesn’t exist, and if it does, it doesn’t quite fit the aesthetic you are going for, or the overall tone of the brand it is meant to associate with.

That’s where Midjourney comes in. It is particularly impactful when you give more weight to an allegory, a metaphor, a hyperbole, or a well-placed irony with an impactful illustration. Illustrating your point by talking about “a house built on shaky grounds” or “the missing piece(s) of the puzzle” can help ensure your audience remembers your point for far longer.

Accessing Midjourney however may prove a bit more challenging than one would expect. To interact with it, you need to have access to Discord, a decentralised collaboration platform not too dissimilar to Microsoft Teams or Slack. Because Discord is decentralised, most IT departments will frown upon it, so you may need to enlist your personal device to generate the images for you.

An unexpected advantage of using Discord however, is that you get to see what other people are asking Midjourney to generate (you can retain privacy on paid plans, but the free version only allows you to post your “order” into a group chat). Seeing what other people are asking for and how they are structuring their prompts can serve as a powerful source of inspiration as well.

Finally, bear in mind that Midjourney may sometimes produce surprising results and make some design mistakes humans wouldn’t, such as, let’s say, getting wrong the number of fingers the typical human hand has!

The future of productivity is bright

Those four tools are just the tip of the iceberg as to the potential of Generative AI to support us to become more productive and, by extension, for our businesses to deliver more value for all its stakeholders.

Today we’ve uncovered how to make better informed decisions, shortcut the time to build a narrative (and associated presentation), and how to create more impactful illustrations to support our most important stories. But there are many more tools that can support, some can generate high-quality audio files from written text, and others can remove the background noise while you are on calls in a busy café, and now that those technologies are opening themselves up more to enable you to connect their algorithms to your own data the sky is, truly, the limit to what a savvy and forward-thinking executive will be able to achieve with Generative AI, with short to mid-term transformational impact well within reach.

Maybe it’s time to ask Rationale whether you should set up a team to explore the technology more, ask Perplexity for sources that would back your assumption, tome for a narrative and then Midjourney to help you give a larger-than-life imagery to your magnetic narrative to your business…

The post 4 Generative AI Tools To Take Executive Performance To The Next Level first appeared on Horton International.

This is a reality most high-performing executives are completely aware of; if anything, it’s something some even enjoy and get energised from. Executives thrive in leading businesses to the next level and deliver shareholder value time and time again.

Yet, the overwhelming majority of executives are overlooking and letting a crucial business behind: themselves.

How many executives do you know who regularly invest in their personal brand? How many executives do you see taking part in podcasts, penning thought leadership articles, being in front of the camera, sharing their message?

The answer, as you will know, is “not that many”, and chances are, you probably aren’t one of them either. And that’s a big mistake.

The curious case of executive self-neglect

It is rather surprising to think that leaders taking care of organisations with hundreds or thousands of employees are all over the key factors that make their organisation grow. They are attuned with their operating model, their financial health, and their market positioning. They have to, if they want to succeed. Yet, most don’t actually take the time to stop to take care of their personal brand.

Personal branding is, essentially, applying all those marketing concepts you will be acquainted for, but to position and promote you, as a professional. It’s about carefully crafting how you come across, telling the world your unique selling proposition and what makes you a better choice than your competitors.

But time is at a premium. It’s all well and good to want and invest in one’s brand, but what’s in it for executives? How can they justify investing in their personal brand to the detriment of other activities?

Today, you’ll discover all you need to know about personal branding so you can make an educated decision on whether you should make time for it (hint, we strongly believe you should).

First off, what personal branding isn’t

Usually, when execs hear about personal branding, they immediately think of social media influencers, those people who are paid to share their lives and promote the most varied types of products on their social media profiles. While they are building their personal brand, this isn’t personal branding. Personal branding does not mean you are career switching into an advertising poster.

Likewise, it’s not about becoming famous and getting millions upon millions of followers. It is, however, about getting known. It is about being discovered by the right people. Like in many other instances, quality trumps quantity.

Finally, a whole new job, personal branding is not. While it may at first seem like it is a huge time commitment, it could merely be a minor tweak to some of your existing routines and processes. While it does take time, if you are strategic, you can minimise your time involvement and 80/20 your way into a great brand!

Ultimately, what’s in it for you?

Personal branding, in a nutshell, boils down to a single thing: intentionally communicating what you bring to the table. That’s all there is to it.

Obviously, you can (and should) go into defining what is your USP, who your target audience is, what you want them to do and so many other features that anyone with a basic knowledge of marketing would understand are crucial to cover, but, at its highest level, this is the simplest way of summarising a personal brand.

Still, why should you care?

• One brand that reaches two audiences

As an executive leader, you have an internal audience who wants to hear from you. They want to know what you are thinking about, what bets the organisation is making, and where you see the next biggest opportunities for the organisation to tackle.

However, your colleagues aren’t your only audience. By building your personal brand, you will be building, growing, and building trust with another, far wider audience: virtually everyone else. From past colleagues, clients, and suppliers to prospective employers and clients or industry peers, building your brand out in the open allow you to get known and be seen as the reference that you are by a wider group of people, many of whom don’t even know you exist.

Each person outside of your organisation who discovers you via your personal branding represent a fleury of new opportunities. Each person within your organisation who gets to know what you think, represent a new potential ally to your goal, a colleague more bought in into your vision, or someone who can help you refine your thinking.

Everything we explore next is valid for both internal and external audiences and is there to plan the seed rather than providing an exhaustive list of benefits to extract from building intentionally your personal brand.

• Build credibility

Few things are more powerful than demonstrating to your teams (and prospective employers) that you do know the field you are talking about. There’s a lot to be said about proving misconceptions wrong, especially once you get to your level of seniority, where you don’t have the luxury of getting hands on and overtly technical in what you do. What’s the best way for a CTO to prove they still get tech? To share their expertise with confidence.

When you don’t share your expertise, you are leaving it unknown. People will fill in the blanks based on what information they do have available to them, and when they have nothing, the blank will remain just that, blank. This means that your teams may wonder if you know what you are talking about, they may even question (at least among themselves) your judgement, and your next employer may not reach out, as they’re not certain you would fit the bill.

Build your credibility, build your opportunities.

• Build trust and familiarity

The biggest human currency one can have is trust. This is what our entire social system rests upon. No one will follow you, buy from you, or hire you unless they trust you. At the most fundamental level, you need to be a trusted leader if you want to extract the most from your teams.

How to build trust? Again, by communicating. By creating noise where there once was silence. By sharing your thoughts with them, by going on video and updating them on where things are going. Be visible. Communicate. Be seen. All those touchpoints will gradually increase trust, as you will provide, time and time again, evidence that you are reliable and dependable.

• Creating new opportunities for your organisation and yourself

It is not rare, on social media, to see some CEOs having a bigger audience than their companies. Elon Musk and Ricard Branson are the two most used examples, but you can see that pattern repeating again and again.

The social profiles of executives within an organisation are FAR more powerful for generating opportunities than those of the brand themselves.

By having a strong brand, organisations will come to yours because they want to deal with you, because you build that credibility and expertise. This is the business justification as to why you need to build your brand: it will support the brand and pipeline building efforts within the organisation.

But the same applies to you – you will be surprised at how many opportunities will come to you because of your personal brand. You will have doors opening to you that you didn’t even know existed. You may form friendships and collaborations with industry peers you admire, you may be invited to events you always hoped to attend, and your next employer may be nearer to you than you’d think.

Personal brands create opportunities for both the organisation and yourself. What shrewd business person wouldn’t take advantage of this?

On top of those key areas, there are several more ways a personal brand benefits you, for example

• Scale your impact. More people seeing your message means more people you can influence and have a positive impact on
• Improved communication. The more you write, the better you write. The more you speak to the camera, the more comfortable you become, on front of the camera
• Forced strategic view.  Personal branding strongarms you into defining how you want to be perceived, remembered, and thought of. Becoming intentional about this will only help you become a better executive

Personal branding is investing in you and your career

What it comes down to is whether you believe in your potential to achieve more; and whether that belief is strong enough for you to invest the time, thought, and energy to build your personal brand intentionally. While we can’t say it is risk free, the upside of building a brand are huge, both for you and your current employer. So, what are you waiting for? The best time to build your personal brand was in 2010…  and we know you know how the sentence finishes..

The post The Importance of Personal Branding for Executives: Making Time for Success first appeared on Horton International.

• Where is the new focus for HR?
• How is HR making the shift from managing processes to creating a holistic impact?
• How can you integrate the “human” factor across different activities and working areas?

The last 18 months have seen a significant change in the way everyone does business. The impacts of the pandemic are going to be long-lasting and unpredictable. If companies are hoping to move forward successfully, there needs to be a shift in thinking.

Companies are past the survival mode. And now, companies and leaders need to be looking for ways to make their teams, and their businesses thrive.

To make the most of every opportunity and embrace disruption, companies need to start focussing on the human component of their structures, processes and leadership. If your company is to be genuinely flexible, you need to build that flexibility into your processes and thinking. Not to just expect that from your workforce. Reaching this goal requires a new level of integration of activities.

Building an Agile Hybrid Workforce

To build an agile, hybrid workforce, you may need to ask some difficult questions. Are you fully realising your worker potential? How healthy is your talent ecosystem? Which workers are you at risk of losing and why? Do your stated company values translate into reality?

Data is a valuable tool, there is no doubt of that. You need to have a firm grip on not only what work is being done, but who is doing it and how. This information needs to be used with a forward-thinking attitude. Much strategic planning is based on retrospective measurements and data.

However, looking backwards is not an effective strategy for planning for the future, especially when the future is highly volatile; a change in mindset is required.

The aim is to finetune your workforce strategies to be useful for the coming months. In other words, stop striving to improve your old ways of working, instead focus on creating new better ones.

Designing Work For Wellbeing

The past months have shown us that many workers find that there is no longer a line between home and work. The traditional view on corporate wellbeing is no longer a realistic one. 

A shift in thinking is needed. Instead of adding programs that sit alongside a company’s business, CHROs need to look for ways to make employee care an integral part of the business.

This requires some conscious design to ensure that an individual’s workday pushes them to care for themselves. This design should address physical, mental, financial, and social needs. The benefits of this sort of design are that it will increase the engagement of employees.

Standalone programmes can be easily ignored, integrated practice less so. Happier and more fulfilled employees are much more productive and engaged. There is a lot more value in happy employees, it is also much easier to attract new talent.

Building Diverse and Intelligent Teams

It’s well established that teams with more diversity are more successful at problem-solving, finding solutions and predicting outcomes. This translates directly to better financial performance for companies. So, similarly adding machine thinking to a team is another way to add an extra element of diversity, intelligence and agility.

The way that teams work has had to change. Technology is no longer a choice, it’s a necessity and simply using it as a means to talk to each other is missing the point. Correctly leveraged, adding technology to a team can improve everyone’s ability to learn, perform and create. The technology we use to connect our teams becomes an integral part of the team similar to other diversity elements like experience, education, gender, age etc.

Worker Led Skills Growth

The pandemic has seen workers roles evolving and changing. For some, their current position may have little resemblance to the one you hired them for. This evolution has brought to light a few important lessons.
When workers are given the agency to direct their growth and input, they are more engaged and make more significant progress. If workers are given the opportunities to align their interests with the company’s organisational needs, everyone benefits.

When you bring a new employee on board with your company, you are not only considering the value they bring with them, but the value you can nurture in them. When workers have control over this process and their development, they can reach a much higher level. If you currently have a prescriptive and overly structured training system, then you may be stifling your employees’ potential.

Enabling Leadership

As the requirements for business are changing, so are the requirements for leadership changing as well. The earlier useful leadership strategies and practices are not bringing the results we would like to see in the world of the hybrid workforce and diverse teams and self-directed employees. The critical capability a leader has to have is the ability to be comfortable with the uncertainty and being uncomfortable.

Leaders have to be able to allow him/herself to be constantly challenged by the business environment and colleagues, and focus on making sure that every team and individual is enabled to succeed in their roles.

A New Role For HR

All the above means that the role of HR in companies is changing. It’s no longer a matter of standardising and enforcing policies. HR is better used as a means to re-design the way your company works. HR should be the department driving the agenda of putting human considerations at the forefront of work life. The understanding of human behaviour in an organizational context becomes more critical than the understanding of workflows and processes. It is time that behavioral sciences go hand-in-hand with business.

To address all the changes discussed here will take a lot of new ideas. Your whole company will need to envision a new way of working in a way that truly emphasises the human potential. Human resources have a significant role in setting the new leadership paradigm and driving the development holistically across the organization, to a level of the nitty-gritty.

To achieve this, your HR department must move from merely providing a function to having an impact.
HR shouldn’t be a process; it should be the leading edge of the mission to shift your company from survival to growth.

The post What’s Next For CHRO? first appeared on Horton International.

So, you are a savvy executive that understands the value of building a powerful personal brand, but don’t know where to get started?

Fret not, this guide will show you the 3 first and most fundamental steps you need to take so you can start on this journey with solid foundations.

Step 1: Define your why?

The one constant challenge every leader has to deal with, is that they are starved for time. The demands on their time drastically outstrip the time they physically have available. Prioritisation skills are likely one of the biggest determining factors in how successful a senior leader will be. Ultimately, this is where the war is won.

Deciding to work on your personal brand will translate into additional demands on your time, a demand you will need to prioritise against everything else. This means that you need to be very clear on why you want to work on your personal brand and what a good Return on Investment looks like for you.

If you input say 2 hours a week into your personal brand, what kind of result will make it worth your while? Is it about connecting with industry peers? Is it building pipeline for your organisation? Or is it getting requests to appear on podcasts, do consulting on the side, or being approached for that next big gig?

Whatever the answer for you is, make sure you are clear on what you want to achieve and, once you are there, ask yourself: “Is this worth investing (and jealously guarding) X hours a week to work on this?”.

If the answer is no, then either you are not looking at the right prize (think bigger, think more creatively), or you are not fully sold on the premise of personal branding, or quite simply, you identify you have other avenues you believe would provide you a better return for your time. The last of these options is to be applauded, and may mean you should park your personal brand (and this article) until a later date. The former two, however, may mean you need to dig a bit deeper into it. Put your personal branding on hold until you get a clear YES to the prioritisation question.

Step 2: Sketch out your target audience

Like any form of communication, it is never about the communicator, but always about the audience. What you want to say doesn’t matter nearly as much as what you need them to hear and do.

The same goes for your personal brand. You are working towards becoming more visible, making a name for yourself with a new audience, a new target market as it were. However, as we hinted at in Step 1, building a personal brand is a means to an end, and you are doing it because you want to get something out of it. Question is: how does your personal brand help you unlock this?

The automatic second question here becomes “Who needs to hear your message so you can create the value you hope to gain from it?”.

Identify who that who is. How do you think they will open doors to you? What are their roles? What are their interests? What would keep them up at night? Sketch up and build the personas of your ideal audience in as much detail as you can, because they are the key to your success.

The entire premise of a powerful personal brand is being visible to the right people, sharing the right offer, supported by the right narrative and content.

If you want to become a horticultural expert in Southwestern Holland, building a following of 10,000 real estate professionals near the Niagara Falls won’t move that needle much. You will know intuitively that no two contacts are created equal; the same absolutely goes in personal branding; so make sure you identify who your target market is and then ask the single most important question: what do they care about?

Step 3: Build a sustainable content strategy

You now know why you want to invest in building your personal brand. You also know who can enable you to achieve that why. The last ingredient of that equation is how you appeal to them.

First part of building that content strategy is understanding what they would want to hear from you. The content you create, the way you position yourself, the narrative you build, everything should be geared to appeal to that prime ideal audience (which is why this is so fundamental to get right).

Ultimately, you want to convey:

1. Credibility – you know what you are talking about and are an established expert in your area
2. Trustworthiness (people only buy from or refer people they trust)
3. You are the best placed person to solve their problems
4. Your offer – how you solve their problems

How can you position yourself, what should you talk about, so you convey all of the above to your ideal audience? This is the single most important driver of what your content strategy will become.

It may be useful for you to identify 3 to 5 Content Pillars – those are the 3 to 5 categories of content that 90% of your content will fit under, providing you with a structured framework to work and take inspiration from.

Once this is done, identify the frequency and cadence of your posting. Consistency is where personal brands translate into positive outcomes, so pick a quantity and rhythm that you can comfortably commit to for at least a year.

Once all of the above is sorted: execute. Execute consistently. Execute relentlessly. Execute with the clear end goal in mind.

Bonus Step: Find synergy fields

You now have all you need to confidently start building your personal brand with proper foundations. Congratulations!

To get you in an even stronger position, indulge us with an additional bonus step; that of finding synergies with other parts of your professional life. What do we mean by that? Look for areas where you are already providing your insights as part of your current role, and turn those into opportunities for content. Executives are frequently approached for advice, and some actually take those meetings. Why not record and share those meetings to the wider world? You just got yourself a podcast! Listen to the questions your peers and your teams ask you – could these turn into blog posts? Have you been keeping yourself up to date on the industry? Curate and share the best content, this is a great way of becoming the trusted voice in your space.

Played right, working on your personal brand can harness what you are already doing and just adding it to a new format and audience. Working smart is absolutely permitted!

Over to you, now! Take on what you covered in the steps above and position yourself as the trusted authority in your space, and keep at it. It may take weeks, it may take months, but remain consistent, keep learning, and results will happen… if, and only if, you did your homework!

The post Your First 3 Steps With Personal Branding As An Executive first appeared on Horton International.

“Our success is built on long-term partnerships based on trust,” says Martin Krill, Managing Partner of Horton International Germany. “Continuity for us means professional appreciation, not settling into routine. We value each award we receive, and remain dedicated to delivering outstanding results.”

Continuing their streak of success, Horton International Germany has been recognised as the Top Personnel Service Provider 2023 by FOCUS Business, marking their tenth consecutive win. Competing against 4,000 service providers, their consistent performance was evaluated through 2,200 interviews with HR managers, personnel service providers, and candidates. Out of the 284 awarded companies, Horton International Germany was among the 62 recognised in the executive search category.

This latest award adds to a series of esteemed acknowledgments for Horton International Germany’s exceptional performance. WirtschaftsWoche named them one of the “Best Executive Search Consultants 2022” out of 830 firms, while Handelsblatt recognised them as a “Top Executive Search Consultant” out of 509 evaluated firms.

Furthermore, they have also been recognsised as an exceptional employer, earning the coveted TOP Company recommendation and recognition for fostering an open work culture on the kununu employee evaluation platform.

Congratulations to the entire team for their exceptional achievements!

The post Horton International Germany – Leading the Way in Personnel Services for the Tenth Consecutive Year first appeared on Horton International.

With this in mind, diversity is something that deserves year-round attention. So now that Celebrate Diversity Month is over for another year, what can organisations do to ensure diversity is a year-round commitment?

Read on for top tips for celebrating diversity all year round.

1. Start A Cultural Calendar

Create an open calendar for your organisation where employees can add all of the cultural events that are important to them. This calendar offers a chance for people to book specific holidays off without feeling like they have to discuss their cultural beliefs/practices. It is also a chance for people to learn more about specific events and celebrate more festivities at work.

2. Reduce Unconscious Bias

With technology advancements, there are some excellent tools available that can help to unlearn bias and help organisations are actively trying to reduce bias from their practices. For example, a Google Chrome extension helps remove names and photos from social media searches to mitigate unconscious bias in recruitment.
There are also AI text tools that can help create inclusive job descriptions and broader company communications. Similarly, you can get content analysis tools that can help create more balanced communication in terms of using masculine and feminine words to attract a wider audience.

3. Acknowledge And Improve

Many organisations will have a cultural blindness to things happening within the company – this can often be to look good. However, regularly checking in on any diversity challenges the organisation faces and speaking up about it not only shows that you’re aware of the problem but are trying to make changes. Accepting accountability, acknowledging that changes need to happen and inviting discussion around these themes regularly can help with continual improvement and may increase employee engagement too.

4. Conversational Skills

Some of the best friendships people will have are with people they meet at work. Organisations can not only help to encourage these friendship bonds to form but also help conversations to flow, which can lead to ideas and innovation that benefit the organisation.
To celebrate diversity, it can help to train employees in conversational skills and non-offensive ways to strike up conversations about cultures, religions and practices. Inviting these conversations while also understanding what questions may be offensive and how to navigate different topics can help your workforce feel more confident and comfortable in striking up conversations.

5. Is Everyone Feeling Valued?

Employee appreciation is a significant factor in employee engagement and retention, and diverse organisations must ensure that every employee feels valued. Check through your employee recognition program – is it inclusive and accessible to all members of the organisation?
Does your recognition scheme offer peer-to-peer recognition to help everyone at every level to celebrate achievements and feel appreciated? Employee recognition can reap big rewards, too, with studies suggesting that organisations are 2.5 times more likely to see an increase in employee engagement and three times more likely to see an increase in employee retention.

6. Pulse Surveys

Issues can come up for employees that can either be forgotten about by the time an annual survey comes around or these issues evolve into bigger issues with severe disruption. However, regular pulse surveys offer the opportunity to regularly check in with employees, make sure issues are reported promptly, and you can take immediate action.
Frequent pulse surveys help every employee to feel heard and can help to highlight and prevent any anti-diversity or anti-inclusion behaviours before stemming into a bigger problem. Creating this trusted feedback loop and showing that you’re always here to listen can help improve diversity all year round.

7. Offer Regular Voluntary Diversity Training

It is becoming commonplace for diversity training to feature in induction days for organisations. These are often mandatory and a way to share the organisation’s diversity, equity and inclusion values with new employees. However, studies have found that when diversity training is compulsory, it can strengthen bias, whereas freedom to choose diversity training can reduce bias.
As a result, running regular voluntary diversity workshops and exploring different areas can help people to make a conscious choice to show up and actively commit to being pro-diverse.

8. Inclusive Company Culture Events

How does your organisation celebrate its success or bring teams together? The company socials can give significant insight into how inclusive your company culture is. It may be that you have a go-to event that people feel uncomfortable attending or that doesn’t align with their values. It is well worth considering inclusive events and offering a variety of options to make events more accessible to your workforce.
Of course, your company culture extends beyond the events you host and finding ways to further improve your inclusivity in your policies can maintain your commitment to diversity.

9. Communicate salary and raise policies

Sadly, there are vast discrepancies regarding salaries and diversity, and the pay gap widens more significantly as individuals progress to more senior positions. However, organisations can help mitigate this by improving transparency around salary expectations for roles while also detailing requirements for reaching the highest salary bracket or expectations to meet for raises.

Transparency can help to narrow any pay gaps in the organisation and also help to increase awareness so that employees are not second-guessing their salary in comparison to other workers. In addition, understanding top performance goals for salaries and raises can also offer a motivating factor for employees while also maintaining transparency.

The post After Diversity Month: 9 Top Tips To Keep Diversity A Priority All Year Round first appeared on Horton International.

A specialist in executive search for more than 15 years, BRAVA is a recognised partner across several key verticals, including the legal market, agribusiness, services, technology, healthcare and consumer goods.

Delivering executive search, cultural fit and leadership advisory projects for top and middle management positions, BRAVA connects local market knowledge to the most modern and innovative practices in the executive recruitment industry.

With its extensive local knowledge, BRAVA will bring top level expertise and experience to Horton International, further cementing its position at the forefront of global executive search.

Managing partners Fábio Salomon, Camila Dable Malheiros and Rodrigo Miwa will oversee the partnership from BRAVA’s head office in the vibrant city of São Paulo. Law graduate Fábio Salomon brings leadership development, high-performance team analysis and formation of boards expertise.

 “Brava is more than delighted to join Horton International and we look forward to the opportunity to learn from, and add our voice to a range of renowned colleagues and firms, crucial in an age and time when our sector is subject to continuous change and development.“ Fábio Salomon

Camila Dable Malheiros is the legal and compliance lead at BRAVA, working with several leading national and multinational companies, and will contribute her deep market knowledge of Executive Search and Executive Assessment processes.

BRAVA’s finance and tax division lead, Rodrigo Miwa specializes in the recruitment of Executives and Leaders in the financial and fiscal sectors.

Commenting on the partnership, Maneesh Ajmani, Chairman of the Board at Horton International said, “As the third largest economy in the Americas, Brazil is a very important territory for Horton International as we continue to expand our global reach. We are delighted to welcome BRAVA as our new partners in Brazil to further strengthen our presence in the region. Fabio, Camila and Rodrigo are vastly experienced, incredibly knowledgeable about the dynamics of the local market and passionate about delivering strategic leadership solutions alongside their wider multidisciplinary team.”

To find out more about Horton International, visit www.hortoninternational.com

About

With more than 40 offices in the Americas, Europe, and the Asia-Pacific region, Horton International has the global resources and local-market expertise to help you attract and retain the most qualified professionals.

The firm provides outstanding consultative advice that helps organisations achieve their strategic staffing objectives. Horton International’s executive search services are exacting, timely, and highly effective, and are specifically designed to help clients achieve their business goals with confidence.

The post Horton International Extends Presence in the Americas with New Partnership in Brazil first appeared on Horton International.

• Advocacy can improve productivity
• Organisations promote advocacy for inclusivity
• Create better job satisfaction through LGBTQ+ advocacy

Despite the progress made, many people across the world are under attack for who they are.  To commemorate the 1969 Stonewall Riots, the whole of June is Pride Month, a chance to honour and celebrate LGBTQ+ people and their impact, raising awareness of issues, challenges and stigmas LGBTQ+ people fact as well as amplifying their voices and showing support and solidarity to their rights and culture.

While supporting LGBTQ+ rights is not just for Pride Month, June can be an excellent time to further improve the workplace culture and foster an even more inclusive environment at work. This is where advocacy can play an essential role in building inclusivity and equality in the organisation.

What is advocacy?

In general terms, advocacy means getting support from people to help you stand up for your rights and express your views and wishes.

Workplace advocacy means amplifying messages, educating, creating catalysts for change and ensuring voices are not silenced.

There are three main areas of advocacy:

Self-advocacy: speaking up for yourself

Individual advocacy: creating change and speaking up for and concentrating efforts on individuals who are treated unfairly

Systems advocacy: Creating changes and speaking up on a broader level on how laws, rules or policies could be impacting lives.

Building LGBTQIA+ Workplace Advocacy

96% of Fortune 500 companies have non-discrimination policies for sexual orientation, which is a positive change in the industry. However, there are still more changes to make, as just 71% of these firms have transgender-inclusive benefits.

For organisations, having advocacy in place can help to bridge any gaps and create a more inclusive culture. Those willing to speak up in support and solidarity can help to advocate for those who don’t feel able to speak up and create an environment that is welcoming, encouraging and fair to all.

For employers, encouraging advocacy in the workplace can offer business benefits too. An inclusive and engaged culture can boost business performance, benefit employee wellbeing, and improve communication which can help workplaces to run more effectively. Productivity is seen to increase when organisations are inclusive and prioritise employee welfare and happiness.

Educate

Advocacy starts with education to ensure people have understanding. It is usual for organisations to have tick-box diversity training. However, education extends beyond a training session on LGBTQIA+ rights. It is important to stay up to date with recent news, updates on changes and inclusion of personal stories and perspectives to build greater awareness.

Education can also help advocates to speak up on the matters raised in training. Education can also show the company’s current position on matters and provides an opportunity to explore what more can be done within the organisation to become more inclusive.

In some organisations, having external experts or a diversity lead can help to build confidence regarding training areas and improve inclusion within the workplace.

Find the champions

While advocates can be at any level in the workplace, it can really benefit from having champions in the senior leadership team that can help create a trickle-down effect. Finding senior leaders who are vocal and passionate about inclusivity can help to widen the advocacy message to encourage more people to speak up and let their voices be heard.

Ensuring there are advocates at every level can help to feel like the whole organisation is supportive and accepting of every individual.

Create advocacy reporting channels

The focus of advocacy is to be an active participant rather than a bystander. However, for employees to be active participants means creating the proper channels of communication that ensure employees feel safe and comfortable in speaking up and speaking out.

Sadly, many LGBTQ+ individuals may not feel comfortable reporting incidents or providing recommendations for changes and improvements for fear of risking their job security or sharing personal information. This is where advocates and allies can be vital.

Organisations should not only encourage individuals to speak up if they witness discrimination or inappropriate behaviour but also encourage people to report concerns through a clear reporting strategy that is clearly promoted throughout the organisation.

Create a culture of growth 

It is important that organisations accept that embracing LGBTQ+ advocacy is a learning experience, and organisations cannot expect to have a perfectly inclusive culture, as there can always be areas of change, development or improvements.

Advocacy also means supporting others who are committed to championing LGBTQ+ rights but who may be on a journey of learning, building awareness and understanding. They may be actively changing any hurtful behaviours they have undertaken in the past, and it’s about embracing this growth rather than creating barriers.

Organisations that can own up to their shortcomings, areas which need more work and gaps in their inclusivity will grow and develop to become more inclusive than organisations that think they’ve already done the work and do not have any further changes to make.

Recognise privilege

Finally, when advocating for LGBTQ+ people, it is important to recognise your own privilege and perspective that may need consideration. Advocates will stand up, take action and support LGBTQ+ people, but they will also recognise where and when to step back so as not to take up space when a platform can be more effectively used. The focus of advocacy is to keep speaking out for change while standing in solidarity with those marginalised.

The post LGBTQ+ Advocacy In The Workplace first appeared on Horton International.

We will look at current trends in management styles in response to the rapidly evolving business environment, including:

• Transformational Leadership
• Servant Leadership
• Adaptive Leadership
• Inclusive Leadership
• Ethical Leadership
• Collaborative Leadership
• Digital Leadership

When taken together, we conclude that these provide a comprehensive framework for leaders to navigate the complexities and challenges of the modern business landscape.

New leadership for a new era of thriving organisations

In a recent report, “New leadership for a new era of thriving organisations“, published by  McKinsey in 2023, the authors highlight the need for fresh leadership approaches in today’s rapidly changing business landscape. The report emphasises that traditional leadership styles and strategies may no longer be effective in navigating the complexities of the modern era.

What happens when companies focus beyond profit and shareholder value and address organisations’ broader impact on society? Businesses can actively contribute to social and environmental well-being by taking a more holistic approach. So, let’s look at these modern leadership styles that are set to transform the modern workplace.

Transformational Leadership

Transformational leadership is a powerful approach that focuses on inspiring and motivating individuals to achieve extraordinary outcomes. Transformational leaders create a compelling vision, articulate clear goals, and challenge the status quo. They encourage their teams to embrace innovation, take risks, and continuously learn and grow. By empowering employees and fostering a sense of purpose and engagement, transformational leaders drive higher performance and create a culture of excellence.

Typically, transformational leaders demonstrate the following:

• Vision and inspiration – with a clear and compelling perspective for the future.
• Charisma and influence – that attract and captivate their teams
• Intellectual stimulation – encouraging creativity, innovation, and critical thinking within their teams.
• Have a genuine concern for the personal and professional development of team members.
• High emotional intelligence – allowing them to understand and connect with the emotions of their team members.

Servant Leadership

Servant leadership is a leadership philosophy and style that emphasises the leader’s role as a servant first and foremost. It is a people-centred approach that focuses on the well-being and growth of individuals within an organisation, believing that by serving others, a leader can effectively lead and empower their team to achieve success.

The core of servant leadership is the idea that leaders should prioritise their staff’s needs, aspirations, and development. Instead of viewing leadership as a position of power and authority, servant leaders see themselves as stewards entrusted with serving others and helping them reach their full potential.

Critical characteristics of servant leaders include:

• Empathy – the ability to listen and understand the perspectives and feelings of others.
• Selflessness – they prioritise the needs of others over their own.
• Humility – personal recognition is secondary to acknowledging the contributions and achievements of their team members.
• Vision – they maintain a clear vision for the organisation.
• Empowerment – they believe in empowering their teams and promoting their autonomy.

Adaptive Leadership

In the fast-paced modern world, leaders must be agile and adaptable. This involves being open to change, embracing innovation, and swiftly adjusting strategies and operations in response to evolving market dynamics. Leaders should foster a culture that values experimentation, encourages calculated risk-taking, and promotes continuous learning and improvement.

Adaptive leadership recognises the fast-paced and complex nature of the modern business world. Leaders who embrace adaptive leadership understand that change is constant and that the ability to adapt and respond effectively is essential for success. They encourage their teams to be flexible, innovative, and comfortable with uncertainty. Adaptive leaders promote a culture of learning, experimentation, and continuous improvement. They foster resilience and equip their organisations with the skills and mindset needed to thrive in a rapidly evolving environment.

Inclusive Leadership

The well-being and engagement of employees have a direct impact on business performance. Leaders should prioritise employee well-being by creating work environments that support work-life balance, mental health, and personal development. They should promote open communication, provide growth opportunities, recognise and reward achievements, and foster a positive and inclusive company culture. Engaged employees are more productive, innovative, and committed to organisational success.

Inclusive leadership emphasises the value of diversity and the importance of creating an inclusive work environment. Inclusive leaders actively seek diverse perspectives, encourage collaboration, and ensure that all voices are heard and respected. They understand that diverse teams bring various insights and experiences, leading to better decision-making and innovation. In addition, inclusive leaders promote fairness, equality, and belonging, fostering an environment where everyone can contribute their best and reach their full potential.

Ethical Leadership

Sustainability and ethical business practices are increasingly important to customers, investors, and society at large. Considering environmental, social, and governance factors, leaders should integrate sustainability into their business strategies. This includes adopting sustainable processes, reducing environmental impact, promoting diversity and inclusion, and ensuring ethical supply chain practices. In addition, leaders can enhance brand reputation, attract socially conscious consumers, and drive long-term growth by demonstrating a commitment to sustainability and ethical conduct.

Ethical leadership is crucial for building trust, maintaining reputation, and sustaining long-term success. Ethical leaders demonstrate integrity, transparency, and a commitment to ethical practices. They set high ethical standards, promote ethical behaviour throughout the organisation, and hold themselves and others accountable for their actions. In addition, ethical leaders consider the broader impact of their decisions on stakeholders, society, and the environment. By acting ethically, they inspire trust, enhance organisational culture, and foster a positive reputation.

Collaborative Leadership

The modern world demands collaboration and strategic partnerships. Leaders should actively seek opportunities for collaboration, both internally within their organisations and externally with other industry players. Collaborative networks and partnerships can enhance innovation, expand market reach, and create synergies that drive growth. Leaders should be open to sharing knowledge, resources, and expertise to achieve mutual success.

Collaborative leadership recognises the power of teamwork and collective intelligence. Leaders who adopt this approach create an environment where collaboration is encouraged and rewarded. They break down silos, promote cross-functional cooperation, and facilitate open communication. Collaborative leaders empower their teams to share ideas, perspectives, and knowledge, leading to better problem-solving, innovation, and creativity. By fostering collaboration, leaders can leverage the diverse strengths of their teams to achieve shared goals and drive organisational success.

Digital Leadership

Digital transformation is reshaping industries across the globe. Thus, leaders must develop digital competence to harness the power of technology for business growth. This involves understanding and embracing emerging technologies, such as artificial intelligence, data analytics, and automation, and focusing them on improving efficiency, enhancing customer experiences, and driving innovation.

Digital leaders understand the impact of digital transformation on their industry and organisation. They actively seek opportunities to leverage digital tools, data analytics, and emerging technologies to enhance operations, improve customer experiences, and drive business growth. Digital leaders foster a digital mindset, embrace continuous learning, and create a culture of adaptability and digital fluency within their organisations.

Conclusion

Embracing change is crucial for business leaders to navigate the evolving landscape and drive growth. However, embracing change is beset by challenges. For instance, resistance to change is a natural human response. Employees may resist change due to fear of the unknown, concerns about job security, or a reluctance to let go of familiar processes and routines. In addition, the organisational culture may support or hinder change, even when the need for it is unarguable. Change can also feel ephemeral and often lacks a clear vision and purpose, leading to confusion.

However, the world is changing apace, and to keep up with it, businesses have no other option but to embrace it, however challenging it might be. Successful leaders must be adaptable, inclusive, and innovative in the modern era. The new leadership approaches outlined here provide a comprehensive framework for leaders to navigate the complexities and challenges of the contemporary business landscape. By embracing these approaches, leaders can inspire their teams, drive innovation, foster collaboration, and achieve sustainable success in the dynamic and ever-evolving business world.

The post New Leadership Approaches for Success in the Modern Era first appeared on Horton International.

The gathering served as a valuable opportunity for team members to reconnect face-to-face and strengthen their bond, reinforcing the notion that “If you work alone, you go fast, but if you work in a group, you go FAR.”

Reflecting upon our journey over the past years, we have come to a realisation: in order to evolve collectively and deliver exceptional value to our clients, we must first understand our current state and recognise the untapped potential within us. It is with this understanding that we have made a collective decision to invest in ourselves, spearheading a comprehensive training initiative and a structured professional development plan tailored to address both our collective and individual needs.

 The Kick Off-Meeting event has set the stage for a momentous new chapter in the journey of Horton International Italy. With a renewed sense of purpose, a commitment to self-investment, and the unity of our team, we are poised to make great strides, deliver exceptional results, and embrace a future brimming with endless possibilities.

“If you treat an individual as he is, he will remain how he is. But if you treat him as if he were what he ought to be and could be, he will become what he ought to be and could be.”

J.W. GOETHE

The post Embracing the Future: Horton International Italy’s Kick Off-Meeting Sets a New Course first appeared on Horton International.

One of the most prevalent themes from the CEO Survey 2023 was the challenge CEOs face in managing today’s conditions while also wanting to create an agenda for the future and how to balance the needs of today with the sustainability of building the business they want to see for the future.

So, with this in mind, the two key areas that were focused on for this year’s survey are resilience and reinvention.

Resilience in 2023

The year 2023 has been a challenging one for many businesses across the world. There have been the ongoing effects of the COVID-19 pandemic, political and social unrest, environmental issues, and economic uncertainty.

Many CEOs have had to adapt and thrive in this complex and volatile context by building resilience in their organizations. Resilience is the ability to recover from setbacks, cope with change, and maintain performance under pressure. And, as Dr. Milly Cohen, a Mexican resilience expert, mentions, resilience is not only an ability but also a process through which we individually or as a group strengthen ourselves as a result of the lessons learned from overcoming these challenges.

In the CEO Survey 2023, it was reported that 52% of CEOs are actively cutting costs, while a further 33% are considering this for the next 12 months. This can come in lots of ways, such as digital transformations and workforce management, including hiring freezes.

Resilience in digital transformation

One of the critical strategies of CEOs in 2023 is to adopt a culture of innovation. While requiring initial investment, opting for digital transformations has helped to reduce costs by driving efficiencies. This has been done by leveraging technologies such as artificial intelligence, cloud computing, and blockchain to improve efficiency, agility, and customer experience.

By fostering a culture of innovation and learning, these CEOs have enabled their organizations to adapt quickly to changing customer needs, market conditions, and competitive threats. For example, one CEO of a leading e-commerce company in Uruguay has launched a digital platform that connects international sellers with local buyers across Latin America, offering them access to a broader market and lower costs.

Another CEO of a major bank in Colombia has implemented a chatbot that uses natural language processing to answer customer queries and provide financial advice, enhancing customer satisfaction and loyalty.

Resilience in the workforce

The CEO Survey 2023 has highlighted that 19% of CEOs are implementing hiring freezes this year, while a further 24% are considering implementing hiring freezes in the next 12 months. Similarly, 39% of CEOs are actively reducing and planning to reduce the size of their workforce. However, this still means most organizations have no plan to downsize their teams.

That said, CEOs are reprioritizing their people and purpose. CEOs are predicting that elevated churn rates will continue in organizations, which means they must do more to protect their top talent.  In organizations, the most valuable asset is their people, and they need to take care of their physical, mental, and emotional well-being.

Consequently, many CEOs have provided their employees with flexible work arrangements, health and wellness programs, training and development opportunities, and recognition and rewards. They have also articulated a clear and compelling purpose for their organizations, inspiring their employees to work towards a shared vision and mission. By prioritizing their people and their purpose, these CEOs have boosted their employee engagement, retention, and productivity.

For example, one CEO of a successful analytics provider in Chile has offered its employees the option to work remotely from anywhere in the world, promoting work-life balance and diversity. Another CEO of a growing fashion brand in Peru has defined its purpose as empowering women through its products and social initiatives, motivating its employees to make a positive impact. A large global food, snack, and beverage consumer company implemented a hybrid scheme for all its offices in Latin America for their corporate office areas and each manager decides which day they meet in the offices with their teams. So far, it has been a successful model.

In terms of managing the current situation, retaining talent remains a priority. By maintaining a strong employee culture and keeping talent happy, it can help CEOs to focus on the following priority of reinvention for the future.

Reinvention beyond 2023

Investing in the future was another key element of the CEO Survey 2023, and the idea of the role CEOs are playing in reinventing their businesses for the future. The last few years of the pandemic, economic uncertainties and geopolitical issues have meant that many CEOs are focused on fighting fires and managing the current situation rather than spending time evolving the business.

Currently, CEOs state that 53% of their time is spent driving current operational performance. Still, in an ideal scenario, this would switch, and CEOs would spend 57% of their time focused on meeting future demands and developing business strategies.

The survey then delved into the ways CEOs want to reinvent their business and the key areas they want to focus on for the future, including:

●      Upskilling and training talent in the workforce

●      Prioritizing AI, machine learning, cloud-based and future-proofing technology

●      Automating processes and efficiency in systems

●      Metaverse exploration and strategies

●      Bolstering supply chains for the organization

●      Responding to the climate crisis and associated risks

The challenge for CEOs is finding ways to develop these areas while managing the current situation. However, there are times when both go hand-in-hand. For example, retaining top talent remains a key priority for 2023. However, the future needs to upskill could come into play now to help increase employee engagement, satisfaction, and retention rates.

Similarly, workforces are looking for organizations that align with their values and organizations committed to social and environmental causes, such as their response to the climate crisis can also be a significant factor when top talent chooses which organizations they want to work for.

Instead of seeing the CEO work schedule split between 2023 operations and the future, it may be that many of the future strategies can be incorporated into today’s response to not only mitigate the needs of today but prepare the organization of tomorrow too.

The post What Can We Learn From The CEO Survey 2023? first appeared on Horton International.

In today’s fast-paced world, consumers look for ease in every aspect of their lives. This is the reason for the widespread use of technology to complete everything from basic tasks to complicated operations. It is also the reason for the widespread adoption of fintech services across the globe, especially in the Asia Pacific region.

Fintech is an umbrella term that encompasses technological solutions which help individuals and businesses automate their finance-related decisions and actions. These can include software and applications, among other technologies, that deliver a financial service. Needless to say, they greatly reduce costs, boost safety and protection, and empower individual and business users.

In this article, we discuss these drivers of the increase in fintech adoption in Asia Pacific, among others.

Increased Financial Technology Adoption in Asia Pacific

The fintech space in Asia Pacific is seeing tremendous growth. According to EY’s Global FinTech Adoption Index 2019, while fintech adoption has increased around the world, Asia remains at the top of the list. EY surveyed around 27,000 individuals active in the digital space across 27 territories, with the results clearly pointing towards increased use of fintech services.

Across the globe, fintech adoption rose from 16% of people in 2015 to 64% in 2019. Additionally, a whopping 96% of them were aware of at least one fintech service that facilitated online transfer of money and payments.

The report states that 10 of the 27 markets surveyed were emerging markets, the largest ones being India and China, important players in the Asia Pacific region.

The countries that topped the list of fintech adoption rates, according to EY’s Index, are:

–       China – 87%

–       India – 87%

–       Russia – 82%

–       South Africa – 82%

–       Colombia – 76%

–       Peru – 75%

–       Netherlands – 73%

–       Mexico – 72%

–       Ireland – 71%

–       UK – 71%

The three countries to top this list are part of Asia Pacific. Not much further down the list are Hong Kong, Singapore, and South Korea, with an adoption rate of 67% and Australia, with 58%. The Singapore Fintech Report 2022 clearly indicates an increase in the use of virtual banking services among the population, with e-wallets becoming the second most popular method of online payment for e-commerce activities, for example. Similarly, Sequoia Capital has recently raised US$2.85 billion across a number of funds for startups in India and Southeast Asia. These are just two examples of the immense growth the industry is facing.

A wide array of fintech services are used by individuals in Asia Pacific to facilitate their everyday financial dealings. These include software and applications that support digital money transfers, online payments, and so on.

But what are the potential reasons for the increase in financial technology adoption in this part of the world?

Drivers of Fintech Adoption Increase

The Move Towards Cashless Economies

Many economies and governments are steadily moving towards cashless transactions as the norm. This eliminates the need for individuals to carry anything but their cell phones and/or their bank cards, resulting in ease for the consumers. Consumers, naturally, are drawn to a solution that makes their lives more convenient, although there is some concern about privacy issues.

Management of Finances

Technology helps individuals keep track of and manage their finances in a better way. Fintech is not all about payments and money transfers: many companies in the space facilitate budgeting and saving activities, among many others, enabling individuals to become more financially responsible and secure.

Consumer Awareness

More and more consumers know about fintech services and the benefits they serve. As mentioned above, 96% are aware of at least one fintech service/application. This boost in knowledge and awareness about how technology can make life easier encourages consumers to adopt the technology.

Increased Competition

Asia Pacific markets have seen a large increase in the number of firms providing financial technology services. In order to stay ahead, these companies provide attractive offerings in order to incentivize customers to choose them. This strategy leads to increased interest by consumers.

Safety as a Top Priority

When it comes to traditional financial institutions and services, the industry has been historically slow to adopt technology. On the other hand, the fintech industry, which relies on technology to even exist, takes important, timely measures to ensure that the digital space in which transactions are taking place is secure for consumers.

Great Spending Power

Across the region, consumers have mostly witnessed an increase in their level of disposable income. This is especially true for the younger population, which is also extremely comfortable with the use of technology in order to facilitate everyday activities. These individuals opt for fintech services without much need for convincing.

The Impact of COVID-19 on Fintech Adoption

The global pandemic forced countries to implement various levels of lockdowns in order to curb the spread of the virus. In order to cope, individuals needed alternative methods of getting things done. Technology services that allowed people to continue their daily lives without having to leave their house (such as apps delivering groceries to one’s doorstep) grew in popularity.

Fintech services were just one technology that saw an increase in adoption during COVID-19. Research found that financial apps saw an increased number of downloads during the period. This is indicative of a growing trend of conducting financial dealings through technology vs traditional mediums in the face of crisis. It is safe to assume that once individuals experienced the ease of carrying out financial transactions safely from the comfort of their homes, they refused to go back. Instead, it is likely that they started exploring varying technologies for multiple financial functions, contributing to the increased level of adoption.

The Future of Fintech in Asia Pacific

The level of competition in the fintech space in Asia Pacific is growing at an ever-increasing rate. With an increase in the number of virtual banks, users willing to use technology to facilitate financial transactions, companies integrating financial technology, and a staggering increase in the number of firms providing fintech services, Asia Pacific, with China taking the lead, will likely lead development in fintech world for the near future.  As mentioned, though, privacy concerns – that can’t be ignored – are of varying importance across the region.  The level of adoption is also likely to grow across younger and more mature markets due to the reasons discussed.

Sources:

https://doi.org/10.1016/j.jfi.2021.100945

https://globalfintechnews.com/5-reasons-why-fintech-is-important/

https://www.euromonitor.com/fintech-in-asia-pacific-digital-payment-platforms/report

EY Global FinTech Adoption Index 2019

The post Fintech Adoption in Asia Pacific – An Upward Growth Trajectory first appeared on Horton International.

The post Banking the Unbanked first appeared on Horton International.

In APAC, there are now over 300 private InsurTech firms. While China and India attract over three-quarters of these InsurTech investment initiatives in the region and are home to over half of these firms, the whole region is becoming a dynamic ecosystem for which InsurTech is the catalyst.

To help us learn more about the impact of InsurTech in APAC, Matt Grose spoke to Theresa Blissing, founder of the Asia InsurTech Podcast and Accelerating Insurance.

In this interview, we delve deep into Covid’s impact on the industry and market and what the future looks like for the APAC insurance sector:

MG: APAC encompasses vast geography and extremely diverse markets in terms of economy, business and maturity of the insurance sector, even without going into the substantial differences in society and culture of the different countries, making it very difficult to generalise about.

At one end of the spectrum, we have some very mature markets, such as Japan. At the other end, there are relatively untapped frontier markets, such as Myanmar and Laos.

Is it useful even to try to generalise about the region in any meaningful way?

TB: It is very difficult to generalise. Even if we try to compare between the mature markets, we find significant differences, such as between Japan and Singapore. Japan is very mature but also very conservative. I don’t see much going on in InsurTech in Japan itself.

Interestingly though, Japanese insurers are actively engaging partners and acquisitions by turning to players in the US, such as Slice Insurance and Tractable, and not to Asian-born start-ups.

MG: Yes, and MS&AD group took equity in Hippo in the US, who have just IPOd

TB: If we look at Singapore, there is a lot of InsurTech start-up activity. Of course, the Singapore market is very small, so they have to look to the larger southeast Asian markets to roll their offers out, such as in Malaysia, Thailand and Indonesia.

Then, we look at China, a completely different animal and very much different from anywhere else in the world! So, it really is very difficult to generalise, yes.

MG: Yes, and this, of course, is one of the key challenges for multinational insurers – getting the strategic balance right across the region: deciding where products, distribution channels, business models, everything really, can and should be universally applied, but also understanding which activities require local adaptation, and managing that adaptation to minimise risk.

This is a very complex set of interrelated strategic issues and not easy at all to get right at all.

So, putting you on the spot, which of the multinational players are getting these strategic equations right in Asia Pac?

TB: There are some who have not, obviously, and there have been exits, unfortunately, Manulife being one, after struggling to get the distribution right.

MG: And Aviva

TB: On the other hand, AIA, as the most prominent life player in most markets in the region, are now aiming at a universally applicable solution through their mobile app, IposS.

A player that I find very interesting is FWD-Bolttech. They have a very consistent approach across the region to using mobile, which I feel is the right strategy, as mobile is the most powerful tech platform to use to reach out to consumers. This strategy also works well in the developing markets with lower-income populations, and they are actively seeking out partners to do this with.

MG: These are exciting times for insurance in APAC. And perhaps Covid is further accelerating that trend. With changing needs, wants and resultant behaviors of consumers, with their refocus on risk generally and the emergent interest in protection products plus, at the same time, a more willingness to transact generally online, insurance may become more of a need than a want, with all the implications this has for distribution channels. Having said that, as we know, there will always be a need for a human interjection at some point in the customer journey, it’s more a question of understanding when and how that is done, so back to the universal vs local application challenge again.

What does seem universally clear though, is that it is more paramount than ever now for insurers to refocus on better understanding end customers and how tech can help engage with them, and this often requires bringing in new capability to do that.

TB: Yes, Covid has definitely impacted the way to look at the digital experience of different segments of the population.

Pre-Covid, younger generations were already transacting online and beginning to show interest in insurance products. Now, even the older generation are more active online, using shopping and food delivery services, for example. So now we are seeing the multi-generational adoption of online purchasing universally across the region.

The new levels of convenience and transparency will also create new expectations when it comes to claims.

Customers can track down to the minute when a GRAB taxi is arriving and check their Lazada order in real-time. When we look at the insurance industry and claims management, on the other hand, we still find a highly inconvenient black box.

Clients often have no transparency over the timeline, status, or the following steps when filing a claim.  By leveraging technologies including OCR, blockchain and applying a mobile-first approach, insurers can significantly improve the claims experience if they wish.

MG: Many industries have struggled with the pandemic and the human cost has been truly awful; it seems that it’s actually advanced the insurance industry in some respects.

TB: One upside to Covid has been that people understand the importance of health insurance, and the market for related products has, in many cases, become a pull instead of a push market.

New segments of populations, including lower-income and younger people, are now keen to purchase health covers. But in many cases, new coverage innovations are needed. Young people might not want, or have the economic means, to purchase expensive full coverage health insurance. What is needed are small, bite-size policies that focus on the major risks those segments face at an affordable price.

Those policies should not only cover traditional doctor’s appointments but telemedicine offerings as well. In rural areas and, of course, during a pandemic, people might not have easy access to doctors. Offering telemedicine to those groups can make health care both more accessible and more affordable at the same time.

MG: Yes, the partnerships required between pharma, healthcare providers and insurers required to make this happen would be genuinely deserving of the ’ecosystem’ definition, in that they directly sustain life.

This brings us to InsurTech and regulators. Do you think we are seeing progression on the part of regulators to becoming perhaps more responsive to these changing needs of consumers, which I think should be the mission of all regulators, and businesses generally, for that matter?

TB: Yes, regulatory practices do differ according to market maturity and appetite for innovation. One thing they do all have in common, and which they also have in common with insurance companies themselves, is that they too are traditionally conservative. Regulators are not necessarily very innovative when it comes to tech. They are often found playing catch up, even in the relatively mature market of Singapore, for example.

However, regulators generally have seen the importance of tech. This is similar to what we have seen with some of the insurance carriers themselves.

A while back, when insurance players still thought they could respond to tech from within, we saw some insurers try to adopt the persona of a start-up. CEOs, for example, suddenly turning up to work in jeans and t-shirts, but without really understanding how to integrate innovative tech into their operations.

Likewise, it has also taken regulators a while to realise that it is a steep learning curve. Many have developed sandboxes to work with start-ups but may not fully understand the full impact of tech.

One particular area of concern for me, coming from my research into big data, is its usage.

Obviously, data helps insurance in many ways, such as helping develop new products, diabetes products, for example. But we need to be careful how it is used. There is a very fine line between using it to provide better products and services without slipping into, for example, discriminatory practices. At the end of the day, this will be down to regulators to make sure it is leveraged without being abused.

We have also seen some quite specific examples during lockdown of necessity leading to the adoption of practices that may be risky in terms of data leakage. Agents, for example, have been using their personal social media apps to sell insurance products, including sending identity documents via LINE messenger, which is highly insecure.

A lot of regulations were designed with face-to-face sales in mind. For example, in the Philippines, you can only sell to people in the country with a wet signature to prove that the person was present at the agent’s office. This has now led to people sharing their live location data to prove that someone is in the country. While all those quick win solutions have surely been creative and effective as short-term fixes, we now need to find secure and integrated processes to enable virtual sales

MG: I guess one of the issues for all regulators is that, by definition, they must always be playing catch up to some degree. Innovation needs to have actually been implemented before they can fully see what all the emerging risks are. A problem for them, though, is the speed at which innovation is now coming about.

This means that the Legal and Compliance head role at companies in emerging markets is a mission-critical role in ways that may differ somewhat from those required of the same role in more mature regulatory contexts.

Being able to navigate between group regulatory and, in some cases, head office legal requirements on the one hand and local ‘market practices’ on the other, for example, requires significant experience and guile. Furthermore, the relationship management ability, including knowing who the key decision-makers are in regulators and beyond, and how they think, as well as a deep understanding of the business itself, especially when rolling out innovations, are key. People with these competencies are very much in demand across the region.

Compliance is one of the reasons I often hear for MNCs’ reluctance to invest in emerging markets and, indeed, one of the reasons they pull out, often wrongly, I believe. I would suggest that it is one of a number of risks that come with the territory and is manageable.

In fact, by getting the right person(s) in to lead the Legal and Compliance function, and by following a few quite straightforward sensible practices, I would suggest that not only should regulatory compliance be seen as a manageable risk, it can also be a source of competitive advantage.

TB: I still hear complaints about regulators in some markets; for example, it taking two years to get approval for a new product. One hopes that regulators will align themselves with the interests of the consumer.

From one perspective, whatever the industry, disruptors will likely have to work hard to persuade regulators and legislators to accept their new offer, but they should see it as an essential part of the game.

Uber and Grab, for example, know that they have to fight on this front in every market they enter in the world, obviously, but the bottom line is consumers, in Bangkok, for example, want them there.

So although consumers perhaps do not have such strong sentiments toward insurers as they do toward the likes of Grab, InsurTechs are still the poster child of many regulators. So, if these players have a strong customer value proposition, they should be able to leverage that, though we also must not forget the importance that people relationships always play too.

MG: Right. At the risk of transgressing into the political sphere, I feel it worth observing that I think it makes a difference when there is clear accountability. If you are operating in a market where there is political accountability to the population as a whole, which is not necessarily the case in some of the markets we are talking about, one would hope that a regulator would themselves have accountability to that same general population as consumers.

What’s more, there is political power to be had in championing consumer needs. So this is where business and political interests merge, and both the governments of the home countries of MNC insurers, plus the insurers themselves, have a role to play in pushing for representative government in the countries where they do business.

One final question, then, about InsurTech and where it goes from here.

Most, if not all, western markets have gone the aggregator route, not just disrupting channels but, in some markets, leading to the complete disappearance of some traditional distribution channels. For example, people now purchase motor and home insurance almost exclusively online now in places such as the UK.

TB: That’s a difficult one. One economic and cultural consideration is that, in Asia, labour is comparatively cheap, and so services generally are still quite human-dependent. People are used to having things done for them, so there still seems a reluctance to transact online when someone can take care of it for you personally.

MG: So we haven’t seen any market across the whole of APAC where an aggregator has come in and completely turned it on its head by going direct to consumer and thus completely sidelining intermediaries, as we have seen in other markets?

TB: No, and where they have come in, often we find there is still a human intervention required, most often through a call centre. Policy Bazaar in India, which have been very successful, still rely on a call centre. Furthermore, their business is configured very differently to aggregators in western countries, as they offer their tech services to insurers and intermediaries, so they are much more than just an aggregator.

Interestingly though, they were hoping to corner up to 25% of the market due to Covid, which has not happened, so consumers are not changing as quickly as expected, and the human touch is still needed.

So I guess the lesson is that InsurTechs looking to come into the APAC region, with a great piece of tech that insurers can utilise, should not expect to easily replicate the business model and they shouldn’t expect for it to fly here without some quite serious local adaptation.

TB: Absolutely.

Theresa Blissing was in conversation with Matt Grose. The contents of this interview have been edited for clarity.

The post How InsurTech Is Shaping The APAC Insurance Market first appeared on Horton International.

To find out more about the impact of InsurTech on the market, Matt Grose interviewed Theresa Blissing, founder of Asia InsurTech Podcast and a Big Data thought leader in Insurance.

Theresa’s podcast serves as an interesting and enlightening insight that showcases leaders and innovators in the industry and shares how technology is driving innovation and accelerating the development of insurance across the region.

In this interview, we’re focusing on the impact of InsurTech as a whole, but do look out for our other interview where Matt and Theresa examine the APAC InsurTech market more closely.

MG: Theresa, you’ve moved from employment in large insurance companies to more independent roles in the insurance space. How did you find yourself in InsurTech?

TB: I spent ten years with Generali, after starting my career in Germany, and got the opportunity to work in Hong Kong, mainly on the life and employee benefits side, when I fell in love with Asia!

By 2015, I was dividing my time between Hong Kong and Germany, and I felt I needed to take a break, but I also wanted to branch out career-wise, so I decided to do my MBA at Webster University in Thailand. My dissertation was on the adoption of big data in the Southeast Asian insurance industry, for which I interviewed close to 30 insurance professionals, including eight regional CEOs.

I then worked for a management consultancy company in Bangkok, which focused mainly on telecoms. During this time, there was still quite a lot of interest in me from the insurance world due to my work in the data analytics field – the Singapore Actuarial Society invited me to speak, and the Singapore College of Insurance asked me to put together a seminar.

From this, I naturally began to look into InsurTech and spent a year exploring the global InsurTech landscape. I quickly realised that there was very little information about what was going on in Asia. So, I decided to start the Asia InsurTech podcast by teaming up with Michael Waitze, who runs a lot of podcasts, to try to address this gap.

First of all, we started by talking to InsurTech entrepreneurs but quickly decided to include insurance companies and other movers in the region. Since May 2019, we have published a new podcast every Monday.

MG:  So, what do we even mean by the term ‘InsurTech’? It seems to be very broad as generally it is just taken to mean any technology that helps in insurance.

TB: I usually try to differentiate the InsurTech players into two broad categories. The first I call ‘enablers’ – a company that helps with technologies along the value chain. They are usually B2B, and their clients are normally insurers.

Then there are the ‘disruptors’ who focus more on the end consumer, either as an intermediary, for example, Policy Bazaar in India, or new carriers such as Sing Life in Singapore, or ZhongAn in China.

I am not sure that the term disruptor is always the right term, though. In the case of tech provision for intermediaries, , these players are actually partnering with incumbent carriers effectively rather than disrupting them.

MG: I think you have tied it down very nicely with the terms, though I too have major issues with the ‘disruptor’ word as I feel that using it is not itself being customer-centric, as you may be disrupting an industry but indeed not the end customer, far from it.

So by ‘enabler’, we mean things like AI, analytics and OCR. These are all the tools that insurers love, as they are always keen to improve processes and controls over underwriting and claims, including payments.                                

In that case, are we seeing any kind of discernible linear progression from carriers focusing more on enablement in the earlier days of InsurTech and now moving more into ‘disruption’?

TB: I think they are just becoming more comfortable with InsurTech generally. Earlier on, there was a fear of the disruptors, so the focus was more on enablers.

However, over time, they have realised good partnerships can complement (and not necessarily threaten) their existing distribution and business models. What’s more, there is a clear consumer need for these interventions.

MG: So, would it be fair to say that insurers now know that partnerships with InsurTechs are the way forward and not to try to go it alone?

TB: That is definitely the model moving forward. Insurers have tried building from inside themselves, but, in many many cases, they have failed. This is partly a cultural issue.

Insurance is generally a conservative and risk-averse industry. If we look at age distribution in insurance companies – the average age is 26 at Google but 44 in the insurance sector. Furthermore, people in insurance still often stay their whole careers with one company. Consequently, the culture of insurance companies means they are very focused on their day to day activities, and their skill sets are built around this, which is why a lot of in-house innovation efforts have failed.

This is why we see quite a lot of corporate venture building activity. Avo in Hong Kong, for example, has the look and feel of a start-up but have actually come out of Asia Insurance and Hilliard Capital. Their CEO (who heads up both entities) told us how this venture has helped attract new talent that otherwise would have been difficult to source.

As a result, InsurTechs are helping to make insurance a bit more ‘sexy’ as a place to work!

The more established players are going this route too – AIA, who has, until quite recently, been quite conservative, are also going with the partnership route. They have recently formed links in start-ups in Malaysia and with Vietnam’s ecommerce player, Tiki, so this is a confirmed trend for the industry.

Theresa Blissing was in conversation with Matt Grose. The contents of this interview have been edited for clarity.

The post Is InsurTech The Next Big Disruptor? first appeared on Horton International.

While FinTech start-ups are capturing large swathes of the financial services markets, traditional banks, with access to large balance sheets and cheaper funding,  will almost certainly continue to play a significant role for the foreseeable future.

The rise of Big Tech financial services is now threatening to become an even more critical disrupter. In this article, we will look at:

• The Rise of FinTech
• Digital Disruption Drivers
• The Rise of Big Tech Banking
• FinTech Talent Trends

The Rise of FinTech

The financial crises of 2007 to 2009 hurt banks severely. Their reputation took a nosedive, and they have subsequently faced increased regulation, a low interest rate environment, and significant deleveraging. There has also been a drift of major banking from Europe and the United States to higher growth economies in Asia and severe competition from the rapidly developing FinTech sector, challenging the profitability of the conventional banking services.

FinTech simply means applying innovative digital information and automation technologies, machine learning, artificial intelligence, and big data to financial services. As of February 2021, there were 10,605 FinTech start-ups in America, 9,311 in Europe, the Middle East, and Africa, and 6,129 in the Asia Pacific region.

In terms of market share, while the global financial sector is worth $26.5 trillion, the FinTech share at present is at just around 1% of that globally (3% in China). However, given the fast pace at which FinTech firms are growing their services FinTech is expected to reach a market value of circa $436 billion by 2026.

FinTech businesses provide high-quality digital and mobile banking with excellent customer experience while offering lower costs and higher investment returns compared with banks.

Apart from losing market share, suddenly, banks have found themselves with over-extended physical networks of branches and obsolete technologies such as mainframe computers. Alongside this, customer expectations have changed substantially; today, customers demand new user-friendly, efficient and customer-orientated services that put them in control. To survive, banks have had little choice but to restructure their operations. Of particular benefit to their customers has been the development of digital banking services and the conversion of clunky websites to smart new mobile apps providing consumers with much greater control of their bank accounts and credit cards.

While FinTech has a considerable impact on consumer banking, it is yet to make big inroads into corporate banking, specifically lending to larger companies. For instance, in 2019, global fintech credit was estimated to be  $223 billion against the total credit of $795 billion.

Digital Disruption Drivers

The primary advantage of FinTech is that their business models are leaner, leverage state-of-the-art technologies, and are unencumbered by rigid legacy systems. These benefits allow them to respond flexibly to changing customer needs.

The main drivers of this disruption are changes in customer expectations on the demand side and technology development on the supply side. For instance

• Efficient and effective customer credit screening using data analysis and big data
• Targeted risk-based pricing models
• Reduced need for staff and physical premises
• Increased levels of financial inclusion for businesses and individuals without credit histories and in developing countries
• Absence of legacy real-estate networks and infrastructure

New technology has led to lower-cost services, including lending, payment, financial advice, insurance, and new and improved products.

Big Tech Banking

Big Tech banking refers to banking services provided by a large business whose primary business is digital services. These companies include Apple, Google, Facebook, Amazon and Alibaba. They are potentially a more significant threat to banking than FinTech. For example:

• Google is planning to launch bank accounts in partnership with Citigroup
• Apple has launched a credit card in partnership with Goldman Sachs
• Facebook plans to launch a digital currency
• Amazon provides business lending services

According to the World Economic Forum (WEF), empowered by their resources in cloud computing, big data, and artificial intelligence, Big Tech are ideally positioned to make a massive impact on banking in the future.

The WEF also notes that while FinTech start-ups have successfully changed the basis for competition, their impact has been less disruptive than expected. Currently, Big Tech is working in partnership with banks; however, they could compete with them directly in the future.

Unlike FinTech, Big Tech companies enjoy an established, loyal customer base along with access to large quantities of customer data gleaned from internet search activity, social media, and purchasing patterns.  They also have substantial capital at their disposal. Thus, while currently, FinTech appears to dictate the direction and rate of technical innovation in financial services, the vast resources at the disposal of Big Tech provide a long term advantage.

FinTech Talent Trends

FinTech companies tend to attract talent from young, bright people. The driving force of FinTech is talent. The rate of growth of the sector means that there is an enormous need for skilled employees. FinTech workers in London alone outnumber those in Silicon Valley and New York combined. The UK expects the number of FinTech employees to increase from its current level of 60,000 to 100,000 by 2030, higher than the combined total of Singapore, Hong Kong, Germany and Australia.

The rapid pace of change and disruption is creating demand for creative and curious people who are able to move fast and find solutions. Whilst in a pre-Covid world we could add incremental innovations for marginal gains, the global pandemic has shown that we are at our best when we are solving genuine human needs and solving these problems more creatively than traditional banking. Fintech employers will need to ensure they are assessing for the skills they need such as curiosity, innovation and resilience.

On the other side, potential candidates want to know more around how their employer has been helping with their social and emotional well being. FinTech employers need to have an engaging story.

Given the need to move fast with the growth ambitions and with the, increased war for talent in the technology industry it is essential for FinTech firms to move quickly on their hiring decisions to ensure they don’t lose good talent to competition.

FinTech companies need to be prepared to work with a global workforce. Following the lockdown and the subsequent Work From Home, more people will be choosing to work remotely and may choose to be anywhere on the planet that has enabled wifi. Further, the pandemic has highlighted the scale of the world’s unbanked/underbanked and FinTech, companies will be looking to go beyond their borders to unlock value in these markets.

The post FinTech, Big Tech and Talent Trends first appeared on Horton International.

• Emerging digital technologies
• Managing rapid change
• Cybercrime prevention
• Leveraging data
• Data integrity

While the details may be unclear, we can be sure that banking in the future will look substantially different from how it looks today. Customer expectations are changing rapidly; advancing technologies are driving new banking products and services; new innovative banking business models are in the pipeline; the customer has emerged at the centre of focus. Apart from these changes, banking is facing an ever-growing external threat. Fraud and cybercrime are becoming ever-more sophisticated and difficult to counter. As a result, the future bank must protect its customers at all costs, and doing so will be a significant challenge.

Emerging digital technologies

Digital technologies have already transformed banking, and the transformation is ongoing. Artificial intelligence, machine learning, blockchain technologies, and big data analytics are now essential tools in multiple aspects of banking, including rapid credit scoring, financial management, peer to peer lending, low-cost cross-border money transfers along with many more. The drive is to better, more efficient and increasingly innovative solutions, products and services. As a result, the demand for skills in these areas is likely to outstrip the supply significantly.

Managing rapid change

Banks changed little over many decades, but they did so amazingly quickly when change and disruption eventually came along. It took no more than a decade for FinTech to change the face of banking, leaving traditional banks with little option but to embrace those changes themselves. Employees will need to be open to constant change and more flexible in their approach, while change managers will play a critical role in keeping their organisation head of the game.

Cybercrime prevention

Criminals are becoming increasingly adept at leveraging technology to steal information; traditional prevention methods provide little if any protection. As a result, future banking needs to at least match or preferably exceed the levels of sophistication reached by criminals. Doing so will require a significant effort from fraud and cyber protection teams adept at the latest technologies, including machine learning, artificial intelligence, and blockchain, to detect and protect against attack. Any breaches will potentially severely damage the banks’ reputations.

Leveraging data

Data is probably the financial sector’s most valuable asset. Traditional banks use data from conventional sources such as credit agencies to screen and assess their customer’s credit histories when offering them loans and mortgages.  FinTech companies access real-time data from social media and other sources to assess risk and price products and services based on the results. Big Tech businesses potentially need to look only at their customer databases to evaluate the behaviour of their customers. Leveraging and monetising this data will be an even bigger task than it is today. Data analytics will be a much sought after skill across the whole financial sector.

Data integrity

While traditional banks have a good reputation for protecting sensitive data, the same cannot be said about recent incumbents to the financial sector. In fact, many of the Big Tech organisations entering the financial industry, such as Google, Facebook and Amazon, have acquired a reputation for having a cavalier attitude toward their customer’s personal data. Inevitably this will change, probably through a combination of regulation and a move to an improved self-imposed ethical approach by the big players. As a result, ethics and compliance management will become an important role.

Dividing up or integrating the spoils?

It would appear that the three great pillars of future banking will be traditional banks, FinTech businesses, and Big Tech. However, they are unlikely to divide up the customer base by offering alternative sets of products and services. Doing so would be highly inefficient and, to many people, confusing too. Instead, it is far more likely that we will see some integration, with each sector bringing to the table what it does best. Firms will need to select their partners with care to create the best ecosystem for their customers. Managing the ecosystem will be a critical and demanding role that will play a large part in determining the organisation’s future success.

Who said banking was dull?

The future of banking will be exciting, demanding the very best of available talent. We have outlined above, some of the skill sets that will be in massive demand in the future and that are ripe for development right now.

The post The Future of Banking first appeared on Horton International.

It encompasses all the financial instruments, products and services that help businesses undertake trade. These include Letters of Credit (LC), Supply Chain Finance, Factoring and Insurance, among others. The main parties involved in trade finance include exporters/sellers, importers/buyers, banks, financial institutions, insurers and trade finance companies.

According to the World Trade Organization, trade finance facilitates around 80 to 90% of international trade.

Why Is Trade Finance Used Internationally?

Trade finance is especially significant to facilitate international transactions. There are a lot of risks associated with International Trading, such as payment risks, performance risks, political risks and risks associated with the exchange rate, to name a few.

When it comes to international trade, on the one hand, the exporter would want upfront payment so that they are not taken advantage of and can fulfil the importer’s order. While on the other hand, the importer would only be willing to pay after getting some assurance of delivery and quality. The importer would also require credit facilities for such transactions. These are genuine concerns of both parties in such transactions.

Trade finance helps balance these two conflicting interests by ensuring that the exporter receives payment, thus mitigating the payment risk, and the importer has access to certain credit facilities.

One of the ways in which trade finance can help resolve this conflict is through an instrument known as a Letter of Credit (LC). The Importers’ bank may issue a Letter of Credit, on application by the importer, to the exporter’s bank. The exporter’s bank will confirm and present this document to the exporter, who can receive an immediate upfront payment for the goods/services from the bank by selling the Letter of Credit. The bank will recover this amount from the importer through the importer’s bank.

The exporter then ships the goods and also submits proof of shipment to their bank, which will be further sent to the importer’s bank. When the LC matures and the amount payable to the exporter falls due, the importer will make this payment to their bank, which will then further transfer this payment to the exporter’s bank.

Therefore, in a transaction that typically involves two parties, i.e., the buyer and the seller, one more party is introduced to help mitigate the risk involved in such transactions through trade finance. In this way, trust is built between the buyer and seller, thus promoting further trade.

Advantages Of Trade Finance

Better Cash Flow Management

Many businesses that import and export frequently choose to have financing agreements in place even if they don’t need the money or assistance. This is because trade financing is an excellent way to manage cash flow. Cash flow problems have a tendency to escalate, and all businesses should ensure that their cash flow situation is secure and well-managed.

Never Overpay

With trade financing, one never needs to pay for funds not in need because it is set up only when there is an order to fund. Each trade financing transaction is limited to a single import or export order. One can simply use it when needed. It’s not a long-term deal, but more funding can always be pursued.

Flexibility

Trade financing provides a credit facility that can help one pay for the goods purchased from suppliers from all over the world. Its flexibility provides a period to source funds before settling the balance. It also aids the company’s cash flow allowing it to purchase goods in larger quantities.

Another benefit it has in terms of flexibility is that upfront payment can also be made in the seller’s local currency, which saves hassles of currency exchange risks.

Guaranteed Security

Trade financing provides a payment guarantee to the sellers on behalf of the financial provider. Risk assessment before signing a contract offers suppliers the confidence to proceed with the transaction, knowing that maximum security is assured.

Never Miss A Deal

Trade financing makes things easier when one has a viable purchase order or is making a purchase for the supplies in need but has no cash in the account. It is not based on the businesses’ credit history or a certain level of credit score, and it is not mandatory to offer assets as security.

The focus for trade finance is on the next deal and ensures that if the business is in place, it can be funded. Unlike debt financing, chances of funding further deals aren’t decreased if trade finance is already in place. Finance providers are generally happy to fund if there are other providers as well.

No Requirement Of Onerous Collateral Obligation

One of the main advantages of trade financing is that there is no need to put up collateral. It’s a positive development and therefore won’t need any personal guarantee.

Convenience

Choosing trade financing gives several competitive benefits as a result of a simple transaction. It is vital to remember that once the credit line is established, no ownership of items is taken. Instead, assistance in achieving the pace at which the business wishes to import and sell things is provided. This has a significant impact on the business’s growth and makes foreign purchases more convenient.

Enables Companies Negotiate Better Terms With Their Suppliers

There is a higher chance of better negotiation with the suppliers if trade financing is used in domestic and international businesses. This is beneficial as there are more opportunities to expand the business and earn more profit.

As a result of trade financing, buyers and sellers don’t have to worry about being paid on time or receiving high-quality items. Their financial providers will play a significant role which is why it is one of the most effective strategies for international business owners.

Challenges And Gaps In Trade Finance

Despite the undeniable benefits that access to trade finance provides for international trade, there is still a huge gap in its demand and supply. Trade finance is a very reliable and low-risk mechanism to facilitate trade, but there is still an insufficient and inadequate supply to keep up with the growing demand.

SMEs And Female Entrepreneurs Left Behind

According to data collected by the Asian Development Bank (ADB) for its 2019 report titled Trade Finance Gap, Growth, and Job Survey (6th edition), the global trade finance gap is around 1.5 trillion dollars. It is particularly acute among Small and Medium-Sized Enterprises (SMEs), as well as businesses run by women.

This trade finance gap also acts as a hindrance to achieving the Sustainable Development Goals adopted by the United Nations in 2015.

According to this report, 74% of the surveyed banks believe that there is insufficiency when it comes to fulfilling the trade financing needs for the growth of international trade, while the remaining 26% of banks don’t.

As per the report, 45% of the trade finance applications filed by SMEs are rejected. This compares to 39% in the case of mid and large-sized firms and 17% in the case of MNCs.

44% of trade finance applications filed by women entrepreneurs are rejected, compared to 38% in the case of male-run enterprises.

Lack Of Accessibility

Many factors act as barriers to the growth, development and accessibility of international trade finance. The ADB analysed these factors in its report through a survey conducted among banks. 76% of the surveyed banks felt that Anti-Money Laundering (AML) and KYC requirements are a major barrier to trade finance growth.

Other factors include high transaction costs/low fee income, low credit ratings, global economic uncertainty, and a lack of knowledge about trade finance.

Collateral Concerns

As far as SME borrowers of trade finance are concerned, banks and trade finance providers usually demand more collateral from them to mitigate the risk of default. This also hinders the growth of trade finance, especially among SMEs.

Along with the barriers to trade finance, the report also studies the main reasons for the rejection of trade finance applications, including lack of additional collateral, KYC issues, and inadequate information.

Requirements And Legislation

The International Chamber of Commerce (ICC) Banking Commission’s Global Survey Report is also an in-depth study into the condition of international trade finance. In the survey for the 2020 report, there were participating banks from 85 countries. The report studies the potential barriers to the growth of trade finance.

It was found that a lot of the participating banks expressed their concerns about Anti-Money Laundering and KYC requirements, international compliances and regulations, high transaction costs, and trade restrictions as barriers to trade finance.

Future Of Trade Finance

With these challenges in mind, many are looking to what the future of trade finance may bring. Advancements in technology such as natural language processing, blockchain and optical character recognition are set to improve trade finance and do away with traditional bureaucracy. So much so that McKinsey predicts that digitising and enhancing the trade finance landscape could add up to 600 million new jobs. However, with trade finance being seen as a ‘traditional’ way to finance, it may take years for this sector to scale in the digital age.

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The post What Is Trade Finance? first appeared on Horton International.

In the States, we spend 19% of our GDP on healthcare, but recognize that probably 20% of that is waste. According to CB Insights research, there is over 175k medical coders working to ensure that Hospitals and Doctors get paid; the average cost of bringing a new medicine to market now exceeds $2.5B; and the cost of employer-based coverage is now over $20k per employee per annum..

Given the demographics and increased demand for healthcare—this is now an industry ripe for technology companies to step in and figure it out…Where will they focus- AI , Digital tools/platforms and Digital Health…We have heard the players- Google and Microsoft are moving fast…

Google is the undisputed leader in digital health- with over 92 deals and 57 portfolio companies. Their focus is Genomics, Clinical Research platforms, Patient Data and Insurance—all in an effort to drive more meaningful data, better insights and faster commercialization. Their tools include : ML, AI, Advanced Data Analytics and Remote monitoring.

Microsoft uses its many incubator programs to work and scale up digital health companies at early stage/Seed investment levels.  It uses its venture arm M12 for later stage funding and focuses on Population Health and Disease management companies. They are also the leaders in storing and use of data.

But what lessons can Amazon and Jeff Bezos provide?….if you read his shareholder messages annually, it is clear they are coming to play in healthcare as well….And he applies these beliefs across every business unit, not just in health.  The ROI–his shares since the 1997 IPO have risen from $5 to $1800 per share…His headline messages consistently include:

-Wandering is an essential counterbalance to efficiency

-Move fast and focus on customers (think patients)

-Don’t deliberate over easily reversible decisions

-Bet on ideas with large markets and unlimited upside

-Focus on inputs and outputs will take care of themselves

-Work backwards from customer needs to know what to build next

In his own words, “ Day 2 is stasis. Followed by irrelevance. Followed by excruciating painful decline. Followed by death…And that is why it is always Day 1 at Amazon”..Hear any Pharma or Hospital execs talking like this?

BTW, in 2019 Amazon spent more than 22B$ on R&D, first place! The largest Pharma R&D spender was J&J in 6^th place at $10B. Coming in behind Amazon were Google, Intel, Microsoft and Apple

The post Healthcare inefficiencies in the United States first appeared on Horton International.

This article examines

• Can artificial intelligence rationalise the R&D process?
• Almost all clinical trials fail. Why is this and can artificial intelligence turn it around?
• What is personalised medicine, and why do experts say it could be the future of medicine?

Drug Discovery

Despite its impressive response to the COVID-19 pandemic, the pharmaceutical industry is experiencing significant challenges. Drug discovery is becoming progressively more expensive – currently, it costs on average $2.6 billion to develop a single drug – and the process takes on average thirteen years. Very few new drugs are coming to market, and the ROI in the industry has declined (Properzi, Taylor, & Steedman, 2019).

New, effective, and less costly ways of drug development are required urgently, so it is no surprise that drug development programmes are utilising new tools based on artificial intelligence (AI). We already see significant benefits. AI is playing a critical role in discovering drugs for complex diseases such as Parkinson’s, Alzheimer’s, pancreatic cancer and is also on the cutting edge of personalised medicine. Over the coming years, the market for AI in drug discovery is poised to grow (Fior Markets, 2020).

The emerging trend is for AI-based drug discovery startups to partner with established multinational pharmaceutical companies. Examples include Cyclica and Bayer who are applying AI to peptide drug discovery and Bayer and Merck who are using AI to target chronic thromboembolic pulmonary hypertension.

Although to date AI discovered drugs have not made it through the later stages of clinical trials, it is likely only a matter of time. However, a field where AI has already made a significant impact is the repurposing of existing drugs. For instance, AI has helped identify Baricitinib, a rheumatoid arthritis drug, and Remdesivir as possible treatments for COVID-19.

The trend for pharmaceutical companies working together with innovative AI businesses to streamline the drug discovery process is set to continue. The old ways of drug discovery take too long and are too expensive. Not only will AI assist in bringing new drugs to market, drugs should also become cheaper.

Clinical trials

The pandemic has brought to the forefront the speed at which a large stage trial can be progressed. Traditionally, clinical trials are ponderous and expensive, and the failure rate is also high; up to 90% of them fail (Wong, Siah, & Lo, 2018).

AI and machine learning are beginning to make a significant impact on how researchers and health care professionals implement clinical trials, a trend that will continue to grow and yield positive results into the foreseeable future. Some critical areas are highlighted below.

Patient selection

Currently patient selection consumes around one third of the total time it takes to complete a phase 3 clinical trial and almost a third of trials fail because of patient recruitment problems. When the wrong patients are selected, the trial is doomed to fail. Trials can be onerous on the patient, which increases the risk of them dropping out before the trial is complete. By analysing vast amounts of data, AI can improve patient selection and retention. It can also make trials easier on the patient, for instance remote monitoring reduces the number of visits patients must make to the clinic. An example is IBM’s Watson for Clinical Trial Matching which has demonstrated an 80 per cent increase in enrolment to systemic therapy clinical trials for breast cancer (Fassbender 2018).

Digital biomarkers

Digital biomarkers can be used remotely to monitor patient health eliminating the need for patients to attend clinic. For instance, a smart phone tapping test app has been developed to remotely monitor the condition of patients taking part in a Parkinson’s treatment clinical trial.

Mining and analysis of unstructured data

AI empowered image analysis can rapidly detect and monitor some clinical conditions as well as and sometimes faster and more successfully than professional medical staff (Bresnick, 2018). For instance, deep learning retinal image analysis can detect chronic kidney disease, and deep learning algorithms can rapidly analyse mammograms and MRI images.

Personalised Medicine

We have briefly mentioned personalised medicine as a future trend in drug discovery, but here we look at it more deeply in terms of how it incorporates machine learning and artificial intelligence. By personalised medicine, we mean tailoring treatments to specific individuals, and there is nothing new in the concept. However, machine learning and AI in combination with massive real-world genetic and medical data repositories is now taking it to a higher level. Possibly it could be the future of medicine.

To date, progress has been impressive. Taking cancer treatment as an example, traditionally oncologists make clinical decisions using on-average data. In 2019 Turing Research created a machine learning algorithm that analyses a patient’s clinical history which it uses to predict the patient’s disease trajectory. It recommends the most effective treatments, locates patients with similar presentations, and responds to the way in which the disease progresses.

The industry trend is the forging of new partnerships between healthcare organisations and technology and AI companies. For instance, Pfizer and BMS have partnered with the AI startup Concerto HealthAI to work on precision oncology; Roche has acquired Flatiron Health to gain clinical insights by combining clinical and genomic data; Novartis and Microsoft are using AI to find new approaches to personalised medicine for macular degeneration. The big three tech companies, IBM, Google, and Microsoft, are all trailblazing in the biotechnology sector.

AI drives the future of pharmaceutical & life sciences

Across all areas of innovation from drug discovery, clinical trials and personalised medicine, the future trend is driven primarily by AI and machine learning. Additional examples include protein folding and advanced diagnostics. The COVID-19 pandemic demonstrated the urgency in responding quickly and decisively to rapidly developing healthcare emergencies, and technology is providing us with ever more sophisticated tools to help us do so. We are getting reasonably good at it too. We will need to be.

References

Fassbender, M (2018), AI drives 80% increase in clinical trial enrolment, Outsourcing Pharma, HTTPS://WWW.OUTSOURCING-PHARMA.COM/ARTICLE/2018/03/26/AI-DRIVES-80-INCREASE-IN-CLINICAL-TRIAL-ENROLLMENT

Fior Markets, (2020) Artificial Intelligence (AI) in Drug Discovery Market. (2020, June). Retrieved September 26, 2020, from https://www.fiormarkets.com/report/artificial-intelligence-a-i-in-drug-discovery-market-by-418371.html

Properzi, F., Taylor, K., & Steedman, M. (2019, November 07). Intelligent drug discovery – Powered by AI. Retrieved September 04, 2020, from https://www2.deloitte.com/us/en/insights/industry/life-sciences/artificial-intelligence-biopharma-intelligent-drug-discovery.html

Wong, C. H., Siah, K. W., & Lo, A. W. (2018), Estimation of clinical trial success rates and related parameters, Biostatistics, Volume 20, Issue 2, April 2019, Pages 273–286, https://doi.org/10.1093/biostatistics/kxx069

Bresnick, J. (2018, November 05). Top 5 Use Cases for Artificial Intelligence in Medical Imaging. Retrieved January 18, 2021, from https://healthitanalytics.com/news/top-5-use-cases-for-artificial-intelligence-in-medical-imagin

The post Top Pharmaceutical & Life Sciences Trends for 2021 first appeared on Horton International.

In the end, a sensitive gap occurred during the pandemic. But it was not only the fast, networked transfer of data that came under discussion – since then, IT security in the critical healthcare infrastructure has also come under scrutiny. How secure is patient data in hospitals? Is information and data security guaranteed at all times for all players in the healthcare ecosystem? And are IT security solutions really as robust and reliably protective as they claim to be?

The digital hospital

It is undisputed that digitization also opens up a wide range of opportunities in healthcare, especially in the context of much-vaunted personalized medicine. To this end, the Federal Ministry of Health is pursuing an ambitious digitization strategy, through which it is hoped, among other things, to achieve more efficient administrative processes. The Hospital Future Act, which came into force in 2020, has already prescribed a digital update for German hospitals. In the “digital hospital” of the future, the electronic patient file and its linkage with numerous software components, such as drug prescription software, are indispensable. Devices and objects will be linked digitally in a far more complex way than they are today – gone will be the days when employees of medical laboratories had to laboriously enter handwritten data from doctors´ practices into their IT systems.

“The more digitization in critical health infrastructure, the more important security becomes, so simple yet highly complex is it all.”

CISO establishes security architecture

IT security is not a niche, but a necessity that permeates everything. Critical healthcare infrastructure is not exempt. The number of hospitals that must meet the requirements of the IT Security Act will increase in the future, regardless of the legal obligations. The requirements and necessities for digitization have given rise to new positions and departments responsible for information and data security throughout the organization. Increasingly, hospitals are setting up Security Operation Centers (SOC) operated by their own experts, which should enable them to analyze external hacker attacks in order to keep their own IT systems and IT infrastructures stable and protect them from damage in the face of increasingly complex attack technologies.

With the SOC, IT security is also taken into account not only in healthcare, but also with regard to medical and building technology. The head responsible for overall corporate and cyber security is the Chief Information Security Officer (CISO, all genders). His or her area of responsibility is far greater than that of the Chief Security Officer (CSO, all genders) or a department head for security. A CISO, whether working in a hospital or a health department, develops a holistic overall strategy for information security, but is not organizationally anchored in IT; instead, he or she usually reports directly to the CEO or the CIO.

Convincing of the need

Based on an interdisciplinary strategy, a CISO creates an individual analysis of all systems and processes to ensure a protected and robust security architecture. The CISO optimizes security policies, controls identity management and leads training and awareness sessions for employees. Communication skills and strong assertiveness are mandatory, especially when a CISO has to convince about the necessity of IT security and about adjustments of process flows in the company. The discussion about the relevance of the function ends at the latest when the CISO intervenes in a security-relevant incident as “Superman” or “Superwoman” who saves the day. Anyone who underestimates such incidents or IT gaps and cyberattacks is blatantly misjudging the role of the CISO.

Security where the threads converge

IT security experts in critical infrastructure face a tremendous and challenging workload. In hospitals, they often find IT systems and software applications that run in parallel like a patchwork and are not always compatible, which is a gateway for sensitive data to be leaked and intercepted. In addition, these experts must take a forward-looking strategic view of hospitals as interfaces for networking practices and health insurers – multisectoral networking across hospital boundaries, from nursing to outpatient care in doctors’ practices, is also a sustainability goal formulated by politicians.

Processes and responsibilities will continue to change in digitization, there is no going back and this would also speak against any progress. Horton International Germany, which has focused on digitization and networked technologies since its founding more than 25 years ago, has been observing the challenges for a long time: the more technology and AI are used in therapy and diagnostics, the more complex the demands on IT security in the critical healthcare infrastructure become. Managing the latter, while always striking a balance between data security and business effectiveness, is the task of specifically trained IT security experts, wherever the threads have to come together quickly and transparently, whether in laboratories, health offices or clinics.

However, this requires a change in mindset and a sense of urgency among many of those responsible. Again, IT security is not a niche, but permeates all areas of healthcare. Policymakers should not always be the first to call for action or even reinforce measures. Individual responsibility is key and the imperative mandate.

The message of optimal IT security has not yet been received everywhere, but to ignore it would be to expose oneself to avoidable risk and, above all, to an enormous loss of trust on the part of patients.

The post Is The Critical Healthcare Infrastructure Protected? first appeared on Horton International.

With the impact of advanced digital technologies, including artificial intelligence (AI), increasingly underpinning many aspects of the industry, from drug discovery and clinical trials to supply chain management, we can expect an exciting future with emerging opportunities for fresh talent. Here we will focus on the following areas:

• The forging of digital partnerships between pharma and tech businesses
• Clinical trials
• Cloud computing
• Blockchain technology
• Personalised medicine

Digital partnerships pave the way forward

Pharma giants are deeply aware of the potential benefits of partnering with digital health organisations, and many flavours of collaboration are being explored, including acquisitions, collaborations, investments and more. Such partnerships include various activities and applications, including health apps, remote clinical trials, virtual drug trials, digital therapeutics, drug discovery, diagnostic tools, and secure data management. As a result, the digital healthcare market is predicted to grow at a CAGR of 28% through 2026, reaching $640 billion.

Such partnerships are far more efficient than in-house development, providing the opportunity to develop powerful synergies between both sectors. As expressed by pharma executives, the primary drivers are access to new technologies, reduction of operational costs, and meeting new patient demands.

Clinical trials

Testing drugs is a slow, painful and expensive process. Most drug development projects fail at the clinical trials stage, not only because of the non-effectiveness of the therapeutic agent under test but through extraneous factors such as poor planning, patient non-compliance and administrative problems. The failure rate is enormous. Only 3.4% of oncology clinical trials are successful, though this rises to 33.4% for vaccine trials. Most drug development programmes take 10 to 15 years to develop a single drug at a cost of around $1 billion. The overall cost of clinical trial failure is enormous and potentially unsustainable.

Clinical trials generate increasingly colossal data sets – currently three times more data than a decade ago. Unfortunately, this unprecedented amount of data poses handling problems due to the volume and the fact that much of it is poor quality and potentially harmful to the patient. The reasons for poor quality data are attributed to:

• Inadequate industry standards – clinical research includes multiple data capture systems, processes and definitions resulting in chaos and confusion.
• Lack of appropriate skillsets – staff are unskilled at interpreting and analysing data. AI can detect highly nuanced signals; however, their implications are often missed by study groups which are often unable to keep up with the latest AI developments.
• Poor automation and integration – there is still a focus on dashboards and spreadsheets rather than on modern data analytics tools.

Clinical trials must change, and the industry is focused on replacing the current regime with a more effective and efficient approach. One of the leading trends in achieving this is decentralised and hybrid clinical trials. Rather than require patients to travel to a centre for the trial, patients can remain at home while they are remotely monitored. This system makes it easier for participants though it can compromise patient safety.

Another approach is breaking the randomised controlled clinical trial model, which, although rigorous, is expensive and often lacks hard endpoints. Instead, researchers focus on value-based clinical trials that use modern technology to monitor symptoms and endpoints that patients relate to. These are more focused on subjective experience than biological markers.

There is much to be done, with many opportunities for new talent to forge pathways into clinical trials that deliver better results at sustainable costs.

Cloud computing speeds time to market

The pharma sector is awash with data, much of which is highly sensitive and increasing daily. From its origins in the tech sector, cloud computing has blossomed, offering unprecedented speed, resilience and scalability while eliminating the need for high capital investment. It enables innovative analytics in drug discovery and clinical trials within pharma, reducing innovation cycles from a decade to years and months, and providing global access to crucial data. For instance, cloud computing was instrumental in allowing Moderna to provide Covid-19 vaccines for clinical trials just 42 days after sequencing the virus.

In 2023 cloud computing will continue to impact all aspects of the pharma value chain, including research and initial development, drug repurposing, clinical trials, market access, and commercial applications. However, the technology is not without its challenges. Over the next few years, developers must focus on realising the cloud’s potential value to the business.

However, extending the cloud across multiple business areas is difficult, especially in the fragmented research strategies typical of pharmaceutical companies. Strong leadership and talent are needed to drive through a holistic approach to the cloud. Data protection, compliance and security are vital across the industry, and the speed of the cloud means new approaches are needed. Costs must also be carefully managed; while cloud computing is fundamentally a low-budget approach, maintaining legacy operations, migrating processes, and cloud migration can have significant financial implications.

Moving to the cloud requires different technological expertise from more traditional approaches. As a result, new workforce capabilities are likely to be needed. Upskilling the existing workforce and hiring the right talent will be crucial to successful cloud implementation. In addition, the challenges ahead will likely attract and motivate new talent, thus further increasing the business value.

Blockchain technology improves security

Attracted by its decentralised data structure that offers the highest data security and integrity standards, Blockchain technology is being increasingly adopted by pharma, a trend that will continue through 2023 and far beyond. The overriding concerns throughout the sector from drug discovery to drug distribution, include product quality, patient safety, and data integrity. Blockchain technology has the potential to enhance and streamline all of these and more.

One problem confronting the industry is drug counterfeiting, a considerable problem that puts patients’ lives at risk and has significant financial implications. Blockchain technology has the potential to safeguard every step in the supply chain and guarantee that the customer receives the correct product.

Blockchain also can enhance clinical research by safeguarding patient information, validating returned drugs, and confirming intellectual property claims regarding drug discovery. However, there are challenges, not least the lack of blockchain expertise within the industry. Therefore, the best approach could be partnerships with blockchain start-ups and consultancies.

Personalised medicine promises a bright future

Personalised medicine is seen as the way forward for pharma. This emerging healthcare practice is based on taking a patient’s genetic profile to guide disease prevention, diagnosis, and treatment. It is now increasingly replacing the traditional one-size fits all approach. Personalised medicine is set to transform healthcare in the future as its abilities to treat multiple, and life-threatening ailments are realised. The global personalised medicine market is expected to reach $717 billion by 2025 and $923 billion by 2030.

While personalised medicine is far from new, to an extent, it has been used in oncology for two decades or more for both chemotherapy and analgesia. However, recent molecular diagnostic technologies and AI and ML mean physicians can create optimum drug and treatment plans for their patients. While currently, physicians are likely to choose appropriate drug treatments from those available off the shelf, customised drugs may be explicitly created for the patient in the future. Using state-of-art molecular design tools, standard drug backbones will be modified to suit patients’ specific needs and genomics. The sustainability of such approaches within the pharma industry is yet to be tested, but by harnessing the power of data, many analysts believe it will happen and will be the future of modern medicine.

Finally

Innovation challenges abound across pharma – and the industry is currently in an excellent position to rise to them. With funds to spend on new talent, ideas and facilities, the sector is a talent magnet for high performers. In addition, the industry’s demand for AI and data science continues to grow rapidly. As a result, these technologies are now increasingly positioned at the core of most major pharmaceutical research and development areas.

It also makes sense for the industry to continue to pursue strategies involving big pharma and digital technology partnerships. Collaboration is the way forward that will give organisations a competitive edge. Digital health has become big business, and the sector will continue to expand as the industry moves forward to exploit personalised medicine’s full potential.

The post Pharma Trends In 2023 first appeared on Horton International.

“If I stop, I fall behind.” The old running slogan of industry sounds quite different today: “If you don’t take two steps ahead, you fall three steps behind.” The digital revolution and with it the profound transformation of all areas of life and work is like the triumphant advance of the steam engine in the 19th century – nothing stays the same; knowledge and inventions pick up speed. The digital transformation has also permanently changed our understanding and approach to illness. Bringing ever more sophisticated digital applications and technologies to market maturity has become the driving force of R&D departments in medical technology. For example, AI offers benefits that go far beyond traditional diagnostic and clinical techniques. The alliance of man and machine, located in the “Internet of Medical Things” (IoMT), is progressing rapidly. Thanks to a medical technology industry that sets standards worldwide and is among the leaders in global trade, Germany is in the middle of the dynamics of this change. It is also proving to be a good location for establishing high-quality, innovative applications in healthcare.

On the transformation journey

IT-equipped products and production. Horizontal and vertical networking across company boundaries. Visionary medical goals. In today’s medtech cyber world, CIOs (are ideally at the helm, fully engaged in the transformation journey and therefore know where the company is right now, including in terms of efficiency, productivity and growth.

They understand automation controlled by digital systems and are close to production or production management. Increasingly, they are engineers from the mechanical engineering sector who can score points here with their experience and a range of innovative technology concepts. Psychologically, what these CIOs 4.0 have in common is the persuasiveness and charisma to accompany the entire workforce on this not always easy journey. If jobs are cut as a result of robotics, the CIO 4.0 looks at where these valuable specialists can be deployed elsewhere in the company so that they are not lost. That is transformation in action.

New generation of skills

The biggest challenge, however, is the speed at which everyone has to keep up. Always at least two steps ahead. If a company does not manage this innovation-hungry pace, it will inevitably lose out in global competition. Leading and not lagging behind others is the name of the game. Germany’s medtech giants have internalized this maxim and are on the lookout for protagonists who understand how to implement the new 4.0 paradigm. Small and medium-sized companies must be advised to do the same. Horton International knows the fast pace of digital transformation. And Horton International knows the personalities who bring willingness to change and fast thinking. There are no empty phrases behind this, but rather our many years of experience: change begins with people. And for the present and the future, we need leaders who can guide us through change in tense times. They are communicators, networking masters, human deep learners and visionaries. Without them, the representatives of the new CIO 4.0 generation, the digitization pressure to which medical technology is exposed will come to nothing. With fatal consequences.

“Transformation requires a willingness to change. Opening up to the new and shaping it remains the only chance to help set the agenda in global competition.” Dr. Markus Neumann, Business Unit Manager Lifesciences & Healthcare

The post CIO 4.0 – Do We Need A New Generation Of IT Managers For Networking And Automation? first appeared on Horton International.

Genome researcher Prof. Dr. Alexander Dilthey examines how advances in genome sequencing technology (Next Generation Sequencing, or NGS) can be harnessed to generate biological-medical knowledge.

In an interview with Dr. med. Markus Neumann (Horton International Germany), he explains future scenarios in the pandemic occurrence of infectious diseases and the opportunity to revolutionise not only the fight against multi-resistant hospital germs through genome sequencing.

Markus Neumann, MD:

The importance of genomic infectious medicine was demonstrated on a broad scale by the Corona pandemic. In a pilot project at the University of Düsseldorf, you and your team were able to uncover clusters of infection of the virus through NGS sequencing, i.e. with the help of a rapid and efficient analysis of the genetic material, and thus improve the tracing of infection chains.

Prof. Dr. Alexander Dilthey:

Genome sequencing can be used to unravel infection chains more effectively.
In the pandemic, we were able to gain a completely new perspective on the spread networks of pathogens. This is an insight that will be strategically decisive in the future. The biggest mistake would be to assume that things could not get worse – after the pandemic is before the pandemic. However, with the new NGS technologies, we are better prepared.

Markus Neumann, MD:

The corona virus SARS-CoV-2 was identified within only a few weeks. This is the fastest any virus has ever been identified, which is like a technological marvel.

Prof. Dr Alexander Dilthey:

With the identified genome sequence of the virus, it was possible to produce the vaccine. This worked phenomenally well in Germany and America. The fact that we had a vaccine so quickly after the virus appeared is directly due to the progress in genome sequencing. Nevertheless, during the pandemic there was a strong focus on the established diagnostic methods, less on the innovations in genome sequencing.

Markus Neumann, MD:

The microbiome, that is the totality of all microorganisms that colonise humans, is known to have a complex influence on the immune system, metabolism and hormone system. How useful would it have been to include its mechanisms of action in the Corona pandemic?

Prof. Dr. Alexander Dilthey:

In terms of individual personalised medicine that leverages data generated from sequencing, this would indeed have been enormously forward-looking. It is possible that the microbiome has an influence on the course of corona diseases, or the probability of becoming ill.

The new sequencing capabilities open up a world in which science can understand the microbiomes even better in causal terms, for example, what role fungi play in interaction with bacteria. Already today, the microbiomes are part of the focus in cancer immunotherapy. And we know that they have to be seen in connection with the development of infectious diseases.

Markus Neumann, MD:

What knowledge will remain?

Prof. Dr Alexander Dilthey:

The central insight beyond the pandemic is that it would be important and sensible to integrate genome sequencing into standard diagnostics. We have to get there. Take sepsis (“blood poisoning”), for example. In the case of this complication, which can arise in a wide variety of infectious diseases, the decisive question is which pathogen is the cause and how best to combat it. Traditionally, the result of a blood sample is only known after twelve to 48 hours. This wastes valuable time, because every hour of delay increases mortality. In the new world of genomic infection medicine, the entire genetic material from the blood would be sequenced. With NGS technology, the results can be available after only six hours. Moreover, in some cases the generated data also provide information about antibiotic resistance. Targeted therapy could thus be initiated much more quickly and efficiently. I also see a revolution in this respect in the fight against multi-resistant hospital germs. Here, routes of spread within a hospital – and also between different hospitals or doctors’ practices – can be verified quickly and appropriate measures can be initiated.

Markus Neumann, MD:

The latest sequencing technologies will also revolutionise countless fields of research in the life sciences. Could there soon be a kind of construction or module kit for clinical routine to individualise treatments?

Prof. Dr. Alexander Dilthey:

With NGS diagnostics, there is indeed a revolutionary tool available for the treatment and prevention of diseases that can take into account individual differences in genes, lifestyle, but also the environment. This approach to precision medicine will make it possible to accurately predict which treatment and prevention strategies will be successful for a given disease and in which groups of people. Pandemic infectious events in their early stages can be diagnosed with certainty and their spread could be prevented. A “module system” for clinical routine would be quite possible. But there is still a long way to go before that happens. For one thing, data analysis and the interpretation of findings are extremely demanding. Without software and algorithms, the data cannot be deciphered. It also requires deep subject matter expertise. One of the biggest challenges is actually data management, i.e. the storage, security and analysis of the huge amounts of data. We also need quality standards as well as ethical and legal guidelines, such as how to deal with the expected side findings in comprehensive genome analyses. Furthermore, the question of cost coverage by health insurers has not yet been clarified. However, the first steps towards the broad application of NGS technologies have been taken and it is hoped that they will soon find their way into routine medical diagnostics.

Markus Neumann, MD:

Where are there obviously still deficits?

Prof. Dr. Alexander Dilthey:

We have to work worldwide to increase sequencing capacity. The future belongs to networked diagnostics, where the most diverse medical technology systems exchange data with each other, whether antibody data or the genetic profile of a patient. In terms of the possibilities of data integration, there is still a lot of room for improvement; the Anglo-Saxon countries are already much further ahead in this. What we need are modern concepts for data protection. The goal is easier translation (“from the laboratory bench to the bedside”), i.e. new research findings should be evaluated more quickly for their clinical usefulness and safety and made available to patients.

Markus Neumann, MD:

Horton International Germany fills key positions to support this translation up to the marketing of new drugs and solutions. The manufacturers of pharmaceutical products and medical devices, whether medium-sized companies or long-established global players, are exposed to enormous quality and efficiency pressure – the competition is huge and the pressure to innovate is high. Against this background, the battle for talent is in full swing.

Prof. Dr. Alexander Dilthey:

In the USA and Great Britain, pharmaceutical and biotech companies are extremely attractive employers, and a large proportion of graduates in the corresponding disciplines aspire to work there. Artificial intelligence in the development of new medicines, interdisciplinary work and big data volumes that deliver usable knowledge all represent a great incentive for young talent.

The pharmaceutical industry in Germany can only catch up here. Research departments need data scientists and bio-data scientists with an affinity for and understanding of personalised medicine, algorithms and empirical data. Empirics, data integration and medicine are increasingly converging in the development of new medicines. If these skills are not available within the company, they must be brought on board through collaborations with orthogonal biopharma players or academic institutes. For a strategic positioning in a highly complex knowledge ecosystem like this, cooperations are simply indispensable. Otherwise, the worst case scenario is that you lose out internationally.

“Next Generation Sequencing is the only logical step towards modern precision medicine.”

Prof. Dr. Alexander Dilthey
Genome Researcher 

Prof. Dr Alexander Dilthey,  Professor of Genomic Microbiology and Immunity at Heinrich Heine University Düsseldorf. Main focus: Bioinformatics, Big Data analytics and sequencing. Company foundations in Oxford/UK and Germany. The distinguished genome researcher was a sought-after expert during the Corona pandemic. At the Düsseldorf University Institute for Medical Microbiology and Hospital Hygiene, he is leading a highly regarded coronavirus sequencing project. With the genetic fingerprint, chains of infection can be traced (“corona screen search”).

Markus Neumann, MD,  Business Unit Head Lifesciences & Healthcare. – Horton International Germany. Several years’ experience as a clinical physician. Senior manager in the life sciences and healthcare sector for renowned companies in Germany and abroad. Board member of the German Healthcare Alliance at the Federation of German Industries (BDI) until 2019

FASTER, MORE EFFICIENT, CHEAPER

Next Generation Sequencing (NGS) refers to improved technologies for DNA sequencing. A complete human genome can be sequenced within one day. In contrast to classical sequencing (according to Sanger), several hundred million fragments in a sample are sequenced simultaneously. Sequence changes such as mutations are detected in the process. Time and costs are comparatively much lower.
For research purposes, in clinical genetics, microbiology and oncology, NGS technologies have already been used for several years. Their relevance in the early detection and control of infectious diseases and pandemics as well as in oncology is assured.

The post Medicine. Powers. Big Data. first appeared on Horton International.

In an interview with Dr. Markus Neumann of the Horton International Life Sciences Practice, Eric de Kesel, responsible for sustainability at Swedish medical device manufacturer Mölnlycke, explains how disposable products can still generate a good eco-balance. He says: “Ethical behaviour attracts ethical behaviour.” But it is not only this formula for success that is exemplary.

World market leader Mölnlycke Health Care is on its way to becoming a zero-waste company and is continuously reducing the ecological footprint of its products and processes. On what considerations and regulations is Mölnlycke’s sustainable future based?

ERIC DE KESEL: “Our goal is to improve healthcare worldwide. And sustainability is a strategic priority. We recognise the importance of reducing our GHG emissions along our entire value chain and are in the process of building a sustainable ecosystem for the production of healthcare solutions that we offer, including minimising product waste and improved efficiency in the use of raw materials. By 2030, 95 per cent of our packaging will be recyclable and more than 80 per cent of all packaging will be made of recycled (PCR) and/or renewable material. Our sustainability goals are based on the relevant international conventions, including the goals of the United Nations Paris Climate Agreement, and the findings of science are fundamental to everything we do. We report on metrics in accordance with the Global Reporting Initiative (GRI) standards and the OECD Guidelines for Multinational Enterprises. By 2050 at the latest, we aim to have achieved net zero emissions along the entire value chain and to both, have reduced material consumption and decoupled it from our growth. With ‘WeCare’, we have developed a medium and long-term sustainability plan (‘roadmap’) to create shared value for all our stakeholders. We see sustainability as a driver of growth, innovation and productivity, and an essential part of our value proposition to our people.”

How is “WeCare” navigating the path to sustainable transformation?

ERIC DE KESEL: “We have defined three pillars for the ‘WeCare roadmap’: ‘Green mindset’, ‘Responsible relationships’ and ‘Ethical business’. These are, according to the materiality analysis we conducted, the most important issues that represent sources of risks and opportunities for Mölnlycke and its stakeholders. When we focused fully on sustainable mindset and action, we also decided to think in an integrative way. This is because integration, thus the embedding of all three pillars in all functions and business areas within the company, is, in our experience, the key to innovation and a high degree of effectiveness. The close interweaving of sustainability work with all areas of our business facilitates detection and measurement of potential challenges at early stage and guides us in how to act on these. It is important to Mölnlycke to constantly measure and improve our sustainability approach.”

“The goal is to transform Mölnlycke to become a global leader in sustainable healthcare.”
Eric De Kesel, COO & EVP Sustainability, Mölnlycke Health Care

Mölnlycke manufactures disposable medical products – how can this be reconciled with sustainability?

ERIC DE KESEL: “Mölnlycke does not compromise on the safety and quality of its products; our promise is to be a premium supplier. At the same time, we are committed to offer our customers solutions with the smallest possible environmental footprint. Finding the right balance in this equation is not always easy or straightforward. Life Cycle Assessment (LCA) shapes our main approach to sustainability in product development. The assessment helps us to ensure that the prudent management of natural resources and the environment provides the foundations for Mölnlycke’s sustainable business growth and supports Mölnlycke’s commitment to meet the growing needs of our customers for sustainable products while guaranteeing patient safety. Reusable is not always the best option due to the high amount of resource used and investigation on a case-to-case basis should be done, taking into account the entire value chain impact.

At Mölnlycke, we have been working on phasing out the use of fossil materials in our product formulations for quite some time now. One example is our ISCC-certified surgical drape product offers, produced with bio-based raw materials, contributing to effectively reducing GHG emissions compared to similar products with the same function. We are a pioneer in this, by the way. ISCC-certification also ensures full traceability of materials. Another example is a post-op wound dressing that can remain on surgical wounds for up to seven days. This significant reduction in dressing changes, as compared to conventional dressings, contributes to a reduction in material consumption as well as dressing costs and also helps reduce the risk of wound infections.”

Global zero balance is your goal. How far is Mölnlycke with renewable energy in terms of sustainable growth?

ERIC DE KESEL: “We plan to source 100 per cent electricity from fossil-free sources at all our sites worldwide by the end of 2024. Already today, we have a cumulative share of up to 57 per cent of fossil-free electricity in our production sites. One example: since the beginning of 2020, the electricity at our plant in Finland has been 100 per cent carbon-free. The energy that powers the production facilities, lighting, cooling and waste systems there comes from a combination of wind, solar and hydropower. We partner with ENGIE Impact, the sustainability consulting division of the world’s leading low-carbon energy and services company, on the above Net Zero goal, from strategy to implementation.”

Every ethical behaviour includes a willingness to help. How does Mölnlycke live by this code?

ERIC DE KESEL: “We are committed to acting in a socially responsible way that benefits our customers, patients and society in the long term. We are aware of our responsibility and want to have a sustainable, positive impact. We support medical charities that can deliver credible and measurable results and are in line with our ethical guidelines. With ‘Operation Smile’, we support a global, non-profit charity organisation that provides free and safe surgeries for children with cleft lip and palate. In addition to donations in kind, we also support Operation Smile with employee volunteers and train healthcare professionals in infection prevention. In the fall of 2023, together with Operation Smile, we plan to open a centre of excellence for cleft treatment in the Philippine city of Cebu. In addition, we partner with Debra International – a network that works to improve the quality of life of people with the rare genetic skin disease epidermolysis bullosa (EB), also known as ‘butterfly disease’. The wound patches we developed specifically for this condition are considered the gold standard of treatment worldwide.”

Would you have a “tool kit” along the lines of Mölnlycke’s that would help companies in a sustainable transformation of key business areas beyond the legal requirements?

ERIC DE KESEL: “It would be wonderful if such a fixed toolkit existed. But every transformation journey is different, depending on the company and the regulations of the country where it is located. ESG, the components of which – Environmental, Social, Governance – are still being shaped, illustrate well how broadly the topic of sustainability should be constructed. Mölnlycke recognises its responsibility, a good starting point for the journey to begin. We acknowledge the central role of social responsibility and involve our employees in a targeted way. Instead of applying a rigid ‘tool-kit’, companies should take action and apply appropriate measures courageously. Even if you fail, the learnings can be used to correct your own ESG path.”

How does Mölnlycke motivate its employees to act sustainably?

ERIC DE KESEL: “In our business, employees are genuinely very motivated to work sustainably on their own accord. We believe in creating a first-class workplace, and ethical behaviour is crucial. We actively nurture integrity mindset and encourage our employees to speak up. We also believe that embracing diversity not only teaches tolerance for the individual differences but also contributes to boosting innovative thinking. We give a lot of support to our employees, including regular meetings, learning and leadership programmes and training. Overall, this creates a snowball effect, where ethical behaviour attracts even more ethical behaviour.”

“Ethical behaviour attracts ethical behaviour.”
Eric De Kesel, COO & EVP Sustainability, Mölnlycke Health Care

Does this also apply to partners and suppliers?

ERIC DE KESEL: “Absolutely. Mölnlycke expects its partners to act in the same responsible and ethical way. We promote and encourage values of our corporate culture, such as fairness and transparency among our suppliers, and ask them to promote this in turn with their own partners and suppliers. The company’s Supplier Code of Conduct is designed to ensure responsible business operations and respect for human rights in the supply chain, including human rights, employee relations and health and safety. Compliance with these principles is a key factor when choosing suppliers and business partners. If any issues of concern are identified, we work with the partner to investigate those issues and, where necessary, encourage the development of higher standards. If the partner does not change their behaviour, Mölnlycke will move away from using them whenever possible. We continually monitor our efforts to meet our own standards, as well as the needs and expectations of our customers and stakeholders, and report annually on its progress to the UN Global Compact. All reporting, including disclosures on human rights, connected communities, working conditions, discrimination and harassment in our operations, and modern slavery at company level, is carried out in accordance with local reporting requirements on non-financial information.”

How does Mölnlycke organise its talent management, and do you notice a shortage of skilled workers, as in Germany?

ERIC DE KESEL: “The shortage of skilled workers is not felt as strongly at Mölnlycke as elsewhere. A good 70 per cent of our managers have progressed through the ranks at our company, so they are insiders, which we encourage a lot. Mölnlycke owes its attractiveness to the purpose we stand for. Our product portfolio and our research bring positive value of improving many people’s lives. This sense of purpose builds a certain reputation, which is reinforced by our sustainability profile, all of which is very attractive to existing and potential employees. This way, we minimise talent attrition in spite of not having targeted programmes to recruit talent.”

Thank you very much for the interview, Mr. De Kesel!

About Mölnlycke:

Mölnlycke is a world-leading medical products and solutions company that equips healthcare professionals to achieve the best patient, clinical and economic outcomes. The core business is within the four Business Areas: Wound Care, Operating Room Solutions (ORS), Gloves, and Antiseptics.

Mölnlycke employs around 8,700 people. The headquarters are in Gothenburg, Sweden, and the company operates in more than 100 countries worldwide. Mölnlycke is owned by Patricia Industries AB, which is part of Investor AB, an engaged owner of high-quality, global companies founded by the Wallenberg family in 1916. www.molnlycke.com

Eric De Kesel has held executive positions at Mölnlycke Health Care since 2002. As Chief Operating Officer (COO) and Executive Vice President (EVP) Sustainability, Belgian-born Eric is responsible for the development and implementation of Mölnlycke Health Care’s sustainability strategic framework.

1. Beele, H. et al. A prospective randomized controlled clinical investigation comparing two post-operative wound dressings used after elective hip and knee replacement; Mepilex® Border Post-Op versus Aquacel® Surgical. International Journal of Orthopaedic and Trauma Nursing, 2020.

2. Zarghooni, K. et al. Is the use of modern versus conventional wound dressings warranted after primary knee and hip arthroplasty? Acta Orthopaedica Belgica, 2015.

3. Bredow, J. et al. Evaluation of Absorbent Versus Conventional Wound Dressing. A Randomized Controlled Study in Orthopedic Surgery. Deutsches Ärzteblatt International, 2018.

The post TOP VOICES by Horton International Germany – Interview with International Thought Leaders first appeared on Horton International.

The IIoT is undoubtedly disrupting many traditional manufacturing operations, particularly in the conversion of linear manufacturing supply chains into interconnected systems that deliver improved efficiencies, enhanced safety for human workers, and with much lower costs. This sea change is often referred to as the fourth industrial revolution, or “Industry 4”.

IIoT is big business. It is estimated that by 2025 the impact of the IIOT will be between $1.2 trillion and $3.7 trillion.

Evolution or revolution?

Although we have described the IIOT as the fourth industrial revolution, in many ways, it is more evolution than revolution. We have been using sensors to track the progress of goods through the factory floor and to monitor machinery for very many years. There is nothing new about the concept. Programmable logic controllers (PLCs) have been used in manufacturing since the late 1960s and by the early 1980s, we were already creating networks of smart devices. RFID technologies began making a significant impact at the turn of the century. Notable developments in the early 2000s were cloud computing, big data analytics, and the implementation of the OPC Unified Architecture protocol for secure communication between devices, data sources and applications.

The unfettered progress of Moore’s Law resulted in improved performance and lower prices for devices such as smart sensors and computer technologies. Advances in predictive technologies and artificial intelligence promised more intelligent systems that could replace or complement the human operative offering all the benefits of improved productivity, enhanced security, reduced downtime, and many other benefits. Concepts such as smart manufacturing and the smart factory became realistic goals, not only for big manufacturers but also for smaller enterprises.

Which manufacturers have successfully implemented the IIoT?

As with all significant advances, some organisations have been quick to implement these technologies, while others often impeded by a lack of resources and expertise have lagged. The reality is that currently, IIOT remains out of reach for most companies. Some of the necessary technologies remain unaffordable; there is a lack of talent to implement complex IIOT processes; and there is still a technology lag – not everything that is necessary, such as 5G networks, is currently available. Thus, while some of the largest organisations have made significant progress, many potential users of the IIoT are still at the early stages of investment.

Here we will attempt to assess the current state of play in terms of leading proponents and how far networked and automated production advanced?

In a 2019 survey of decision-makers in 204 manufacturing companies in Europe, each with over 500 employees, conducted by PAC Ltd on behalf of Fujitsu, the key findings were:

• 63% plan to increase their investment in Smart Factory over the next three years.
• 66% rank Smart factory as one of the top three priorities.
• 44% are already achieving ROI on their Smart Factory projects, many in under a year, and of the 56% that are yet to deliver ROI, they are still in the early days of implementation.
• 8% are in the advanced stages of Smart Factory with organisation-wide rollouts.
• 37% are still at the planning and evaluation stages of Smart factory initiatives; 19% have their first live Smart factory initiatives that are impacting on their business.
• 46% handle data in-house; 14% in the cloud; and 14% on the factory floor (known as the edge). The ambition of 35% is to move data analytics to the edge.
• The main goals of Smart factory implementation are to improve product quality, digital transformation, and product customisation. Overall, the external driving goals are improved customer satisfaction, supply chain management, and after-sales products monitoring.
• The major impediments to Smart factory are cost (58%), building a business case, lack of skilled staff, and technical challenges.
• Looking to the future, 59% saw blockchain technologies as important, 50% deep learning and Artificial Intelligence, and 19% quantum computing.

While we are clearly in the early days of IIoT, there is a considerable momentum which will surely increase over the coming years. While there remain impediments to implementation, there would appear to be real enthusiasm throughout the manufacturing sector.

Investments in IIOT

While the PAC survey illuminated the opinions of key decision-makers, the data provided little information on actual investment levels.

According to a 2019 report by the IDC, by the end of 2019, global spending on the IoT which includes the  IIoT was estimated at $745 billion, 15.4% more than  2018.

The companies that invested most in IoT during 2019 were:

• Discrete manufacturing – mainly manufacturing operations and production asset management: ($119 billion)
• Process manufacturing ($78 billion)
• Transportation – mostly freight monitoring and fleet management:  ($71 billion)
• Utilities – mainly smart grids for electricity, gas, and water: ($61 billion)

The highest levels of industrial investment during 2019 were :

• Manufacturing operations ($100 billion)
• Production asset management ($44.2 billion)
• Smart home ($44.1 billion)
• Freight monitoring ($41.7 billion).

While these figures combine the IoT and the IIoT, excluding the smart home, the total level of IIoT investment was $185.9 billion, and this is currently growing at around 16%.

Finally

While today networking and automation of the production world is still in its early days, nearly half of large manufacturers surveyed in Europe are already seeing returns on the IIoT investments, and higher numbers are expecting to make further investments in the coming years. Globally investment levels are high, amounting to $185.9 billion in 2019 and snowballing.

A simple answer to the question posed in the title of this article is probably more than you might suppose and watch this space. The Smart Factory is here, and undoubtedly it is getting smarter.

The post IoT in the industrial sector first appeared on Horton International.

Typically, heating, ventilation and air condition are automatically regulated, lighting switches to the optimum levels depending on external brightness and whether space is occupied; blinds are lowered and raised; doors and windows are automatically opened and closed. Every action is a response to the needs of people as they pass through the building, and when they leave, systems are adjusted to minimise energy consumption, access is locked, and security systems are activated.

Markets and technology drivers

Globally the market for smart building technology is skyrocketing. By 2024 it is expected to reach $105.8 billion, up from $60.7 billion in 2019.  This is all underpinned by the Internet of Things, (IoT), cloud computing, big data analytics, artificial intelligence and machine learning.

Here we will focus on one specific aspect of these advances, namely building access technologies. We will look at both traditional and modern solutions and how the latest development provides increased convenience and enhanced security. We will also look to the future and how the IoT is driving the next evolution of building access control and its integration with the rest of the smart building network.

Building access technology

Controlling and managing who is permitted to enter and leave a building and controlling what areas of that building are restricted to specific people is fundamental to security and safety. In the distant past identification-systems were based on face-to-face interactions and presentation of documents. Access was primarily controlled by a few security people with a large bunch of keys.

By the end of the 20^th century that had mostly been replaced by digital technologies based on key cards and key fobs.

Access cards

The three kinds of access cards are commonly used, and provide different levels of security and convenience:

• Magnetic stripe cards: These are the oldest kind of access card include a magnetic stripe which carries an authorisation code.  The card is swiped through a card reader to gain access. These are highly insecure as they are easy to copy. Nowadays they are used mainly in low-security buildings such as hotels.
  • Proximity cards: Today, many modern commercial and residential buildings use proximity cards to control access. However, while these are convenient, they provide little in terms of security. Typically, the cards are credit-card size and usually replaced when the user no longer needs them. To gain access, the card is held near a card reader.
  • Smart cards: Smart cards offer a considerably higher level of security. They are designed to be extremely difficult if not impossible to copy. They use an embedded smart chip which can read and write data, and they can store far more data than a conventional proximity card including encrypted authentication, security levels, personal identification, data storage, and smart applications. Smart card readers must decrypt the data before acting on it; thus, they provide strong authentication.

Mobile Bluetooth-enabled access

Some organisations are moving away from access card technologies and instead introducing Bluetooth-enabled mobile access control. Encrypted mobile credentials are stored on a smartphone which interacts with access control readers in the building.

Biometric data controlled access

In high-security settings, biometric technologies such as fingerprint recognition and iris scanning are often combined with a card system to provide multi-tiered security or used as an alternative to a card system.

Building access systems

Building access systems may be standalone or networked. With standalone systems, access is controlled at specific locations, and each entry point is individually programmed to allow access to all or specified cardholders with the appropriate authentication credentials. These are easy to install and manage and typically are used by smaller businesses.

Networked access control systems can control multiple access points with many users. Control is usually centralised and can be readily programmed and reconfigured. For instance, the system can permit different individuals or groups with various authorisation levels access to different parts of the building at different times of the day. Such systems may be networked across multiple buildings within an organisation and can be integrated with other smart building technologies such as CCTV; heating, cooling and lighting controls; intruder and fire alarms. Such systems can track every person in the building providing enhanced safety, for instance, in case of a fire or other emergency.

IoT building access control

The IoT is now beginning to drive substantial changes in building access control. While a local network can provide a high degree of access control, IoT building access control can take this to a higher level. In such a system, each lock, access point, card reader, iris scanner, fingerprint reader and any other associated device has its unique IP address. Each device is connected to the internet via a wireless network, and each occupant is similarly connected to the network through the IP address of their authorised smartphone.

With such a system there is no need to carry any physical ID; users can readily communicate with each other; they can receive wayfinding information, and doors can be opened, and lifts summoned from a distance.

Looking to the future of building access control

While card-less IoT based building access control is an emergent technology and already there is an increasing number of firms offering IoT access control as a service (ACaaS), in the immediate future it is the more traditional systems that are dominating the market. The access control market is predicted to grow from $7.5 billion in 2018 to $12.1 billion by 2024, though, over this time, card-based readers will retain the largest share of the market. This is being driven by increasing need by organisations to monitor and record their employee activities.

The post Building equipment – Technology as a driver first appeared on Horton International.

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Is Technology Driving Consumer Disruption?

Most businesses will claim that technology is the biggest disruptor to their business. When you think of the big market disruptors such as Uber, Airbnb and Deliveroo, it is clear that they have used technology to their advantage. However, the technology they have wasn’t especially unique. Instead, it was the way they gave consumers a more accessible and convenient option.

For example, when Uber started, they didn’t have their map-based app service. It began by customers texting their requirements. An agent then connected them to a nearby driver. Uber didn’t disrupt the marketplace with technology, but the way they offered customers a quicker and easier method of booking transport.

Similarly, Airbnb wasn’t the first website or app where customers could list their homes or book accommodation. But it was the user-friendly platform, that could provide a wide product offering with flexibility and often (although not necessarily) at a cheaper price that won consumers over.

Likewise, Deliveroo was certainly not the first takeaway delivery service. However, it was the fact that the businesses could bring great restaurants and high-quality food closer to their consumer.

As with the case in these examples and many more, while technology has been a benefit to these businesses, it wasn’t their technology that disrupted the marketplace. It is the fact that they were offering customers more value (whether cheaper, quicker, easier or more variety) than other providers which made their businesses a disruptive success.

Who Is The Disruptor?

It is not start-ups that disrupt the industry, nor is it technology. It is, in fact, customers who are the disruptors. Your consumers are constantly seeking out the businesses, products and technologies to improve their lives or that take away a consumer-based activity that they just aren’t happy with.

Remember, it is customers that choose to adopt new products or services. It is not technology that is stealing them away.

Why You Shouldn’t Fear Disruption

Whether by your business or another, disruption is a fantastic way to improve your service offering and acquire new clients.

So many businesses worry about where the next disruption will come from. They then spend valuable time playing catch up. However, if businesses put their fears about ensuring they have the best technology to one side, they’ll have more time getting ahead of the curve and being the biggest disruptor in the industry.

How To Get Ahead Of The Disruptive Curve

1.     Map Out Your Customer Value Chain

There will be lots of activities that a customer will have to complete in order to acquire a product or service. For example, a person may consult a nutritionist or health professional who recommends supplements. The consumer then will have to visit a shop and search the shelves for the right supplements. They will then have to sort their vitamins and remember to take them at the right time and with the right substance.

2.     Focus On An Activity That Could Be Better

Value is given to the customer if they can save time, money or effort in an activity. It doesn’t have to be the whole process, just an aspect of it.

In the example above, a disruptor for this could be an online health shop where customers can complete a health assessment online. Based on the results, the provider will create tailored supplements in easy daily packs.

This means the customer does not have to visit multiple providers. A consumer can receive their personalised pack through the post.  They also don’t have to sort out their pills as this is done for them

3.     Look At Other Industries

So often, businesses focus all of their attention on what their competitors are doing. This means they fail to see how they can apply tools and techniques that other businesses are using to their advantage to their own processes.

Generally, disruption comes in waves. Did you know, for example, that those who buy from the Amazon App are more likely to sign up to Uber than those who don’t? Furthermore, these consumers are far more likely to use Airbnb too. Even though there are in different industries, there are similarities that customers love.

See what other businesses are doing well and see if you can apply that to your own strategy.

Why You Should Attract Disruptive Talent

With customers being in control of what is disruptive and what is not, you need the talent that strives for customer empowerment and ensures their focus is entirely on the customer value chain of reducing a customer’s time, money or effort.

It will be the top talent who will spot trends before your competitors do and will deep-dive into processes to find out where you can be doing something better. Even small savings can make a massive difference to your customers.

The post News, updates and insights from the Horton International Consumer Group. first appeared on Horton International.

What Are Omnichannel Services?

Omnichannel services focus on ensuring that every touchpoint in your business offers a fantastic and seamless experience so that it all feels connected. From your physical shops to website, social media platforms to marketplaces, every interaction a consumer has with your business must be an enjoyable experience.

There are so many ways to describe omnichannel services such as seamless integration, contextual, overarching, sophistication, an ecosystem, in harmony or cohesive.

Ultimately, if you have one aspect of your customer experience that is working well, you need to ensure that all other touchpoints for your business offer that same level of excellent service.

The Demands Of Omnichannel

Due to its nature, omnichannel requires a wide range of skills and has a large number of processes. It is not enough to simply set up omnichannel services. From there, it requires constant maintenance and continual improvement to keep delivering what the customers want.

The ultimate goal is to create incredible experiences which deliver the emotional connections that consumers crave.

However, to achieve this, it requires almost every department in your business to work together.  So, here are the essential skills that your business needs for each aspect of your omnichannel services.

Strategy Team

In the beginning, you need a team of individuals who are enthusiastic about the future developments of omnichannel services and can think outside of the box for the direction of your business – from AI to automation.

Problem-solving and critical thinking are essential so that your strategists can remove hurdles and implement improved solutions throughout the process. Strong technical understanding is also a bonus, as it will help to build better relationships with the developers in the business.

In terms of experience, those with product management experience, especially with fulfilment technologies, will be highly sought after.

Market Research and Customer Service

To build effective omnichannel services, you need to know exactly where your customers are and where they want your services to be. This can require extensive market research as you look to have an in-depth understanding of your target market and detailed customer profile.

Those with customer service experience will also have an understanding of what customers need and want and how to implement this into your omnichannel services to deliver the best service experience possible.

Innovation and Product Development

This extensive department will need a huge range of technical skills as it is likely to comprise of key aspects such as;

• Architecture and system design
• User Interface and app development
• Agile prototype development
• User Experience (UX) developers
• AI and Technology Officers
• As well as experts in any systems and software you are currently deploying.

All of these skills are high-level technical skills that need to be balanced out with important soft skills such as communication, prioritisation, logic, problem-solving and teamwork. This team will largely be responsible for building a solution with a central hub and complete functionality. Furthermore, to be truly omnichannel, every aspect should be seamless, which means all of the team must work together to create a solution that is consistent across every platform.

Testers and Programmers

Ensuring a smooth and seamless experience is the major benefit of delivering omnichannel services. As such, you need the high-level team of software testers in place which can ensure your systems and solutions are ready to be launched. You’ll also need testers from a UX point of view to ensure you are delivering the three critical aspects of omnichannel: convenience, speed and experiences.

Omnichannel services need to remove challenges and inconveniences rather than create them. This is where your team of testers can help you to improve.

IT, Security and Privacy

While firms with customer data must have a Data Compliance Officer due to GDPR requirements, this aspect of omnichannel services really does require security and privacy experts due to the complexities of omnichannel services and the number of touchpoints that could lead to a breach.

With automation and AI soon becoming an essential part of omnichannel services, having the team who can ensure the ethics and security of such emerging technologies will be critical.

Finance And Legal

A significant aspect of omnichannel services is the fact you are offering consumers a number of different ways to pay for goods and services. From cash to credit card, PayPal and credit solutions such as Klarna or PayPal Credit. You may also accept cryptocurrencies and, of course, a variety of currencies from all over the world. There are also regional preferences of preferred payment which need to be addressed too.

Your finance team will need to ensure that you are giving customers the best payment options to suit their needs while ensuring your business has the processes in place to ensure every payment option you offer is safe, legally compliant and user-friendly.

Marketing

With PPC, SEM, SEO, social media and PR to consider, your team need to excel in capturing data, tracking conversions and always delivering compelling target messaging. A key aspect of omnichannel services is to create a truly personalised service. This could be thanks to tailored onsite offers, for example.

Again, you need marketers that will look to future trends with their methods to ensure that your business is always a step ahead of competitors.

Supply Chain Management

With potential orders from a range of different touchpoints, your supply chain and logistics team need to be ready for every option. Furthermore, the demand for urgent deliveries will be something that will need continual review, to ensure you can get products to consumers as quickly as possible while also in the most environmentally friendly way.

Organisation skills and fulfilment strategists will help your team to become a success at omnichannel delivery.

With the broad nature of omnichannel services, it can help for businesses to look for candidates who have a varied background and that can bring experiences from a wide range of industries and departments to give your omnichannel services a cohesive strategy. Those who can easily build partnerships and connections will be essential in creating a strong team with a clear, consistent goal of creating the best customer experience across every platform.

The post Why Building Your Omnichannel Services Requires New Talent And Qualifications first appeared on Horton International.

No matter the industry you are in or type of business you have, there is no denying that new technologies are reshaping the way things are done. Marketing and sales departments are at the brunt of many of these technological advances, and it is essential that these teams can keep up.

In recent years, there have been huge revelations within technology, including artificial intelligence, augmented reality and voice technology. All of these pose new opportunities and threats to businesses, and ultimately the sales and marketing landscape is changing. We have narrowed it down to 5 ways that technology is impacting every marketing and sales team across the globe;

1.    Social Media Is More Important Than Ever

Social networking has been around for decades, and marketing teams have been adopting the technologies for a long time already. But in recent years, there has been a huge shift in consumer focus. Today, the majority of consumers are using various social media channels not only for keeping in touch with friends and up to date with the news, but also for making purchasing decisions and connecting with brands.

Social media is now one of the most important marketing channels that any business can use. All social channels are invaluable for marketing and sales campaigns which will drive sales and attract new business. This technology also provides sales and marketing teams with previously unobtainable data. The introduction of sentiment analysis can reveal customer reactions to products and services, which can be used for strategic decision making going forward.

2.    Redefined Relationships Between Marketing, Sales And Technology

Ten years ago, the realm of technologies and systems was generally confined to the IT department. Today, sales and marketing teams are required to take more responsibility for the technology they use. As these team members use more and more solutions for their roles, it is vital that they have some influence over them.

This means that the relationship between IT departments and marketing and sale staff has transformed. Businesses are now required to have team members that are able to collaborate across departments, especially when it comes to new technology investments.

3.    Augmented Reality Brings New Marketing Opportunities

Augmented reality (AR) has been around for a while, but it has only been in recent years that businesses have begun adopting it. As technology companies are starting to make augmented reality more accessible to businesses of all sizes, the opportunities for sales and marketing teams has increased.

Marketing campaigns can now go beyond imagery and video content, and AR can be used to provide a more immersive experience to consumers. This technology opens up a whole world of new opportunities for businesses to showcase their products and services, and this is something that marketing and sales teams now need to embrace to avoid being left behind.

4.    Artificial Intelligence Redefines Customer Experiences

Artificial intelligence (AI) is becoming commonplace among many businesses. Marketing and sales teams are finding these new technologies to be incredibly useful, particularly for customer interactions. Every aspect of a customer journey can be enhanced with artificial intelligence, including customer service and advertising.

Sales teams can utilise AI to reduce the amount of time spent answering everyday customer queries. Consumers today are comfortable asking their questions to digital assistants and chatbots, and businesses can use these technologies to build strong relationships whilst reducing manpower.

Marketing activities can be improved through artificial intelligence, and it can be used to drive sales through personalised product recommendations and advertising.

As we have already discussed, social media is more important than ever for marketing and sales teams. One area that social networking sites are investing a lot of time and money into is live video. Many brands that adopt live video for their digital marketing are seeing huge ROIs and increased brand engagement.

Live videos can showcase products, services and people in a fully immersive experience. It adds a sense of immediacy to interactions which consumers respond well to. Marketing and sales professionals are having to shift their strategies to incorporate authentic and creative live video content.

For many businesses, keeping up with these everchanging technologies and learning to embrace them is an ongoing challenge. For sales and marketing teams to stay ahead of competitors, it is vital that they are made up of the best people for the job. Top talent within marketing and sales is required to harness the full potential of these growing trends. Your business’ ability to embrace new technologies is only ever as strong as the team implementing and learning them.

The post 5 Ways Technology Is Reshaping Marketing And Sales first appeared on Horton International.

• What exactly is a platform?
• Are platforms new?
• How platform businesses operate
• Why some platforms perform well while others fail
• The disruptive effect of platforms
• Skills that platform start-ups need
• The future of platforms

What is (and what is not) a platform

Apart from being some of the most successful start-ups of recent times, Uber, Apple, Amazon, Airbnb, Facebook, PayPal and Alibaba are examples of organisations that operate platform business models.  Rather than selling their own products and services, they focus on facilitating economic exchanges between different user groups. For example, in the case of Uber, the user groups are drivers and passengers, and with Airbnb, they are landlords and tenants. The core benefit that such businesses provide to their users is access to participants on the other side of the equation. For instance, eBay attracts participants to join, facilitates matches between buyers and sellers, and provides a transactional rule-based architecture where buyers and sellers can safely do business.

While platform businesses leverage technology, a platform is the business model, not just the technology. While incorporating technology, the value-creating component is the holistic business model that brings together users and suppliers.

Platforms and ecosystems

We can view this as a combination of platforms and ecosystems. A business ecosystem is the business community of interacting participants, while the platform is the integrating element that organises the interactions and creates additional value. In other words:

• Communities of interacting entities such as businesses, individuals, and organisations that produce value for one another, maybe by creating and consuming goods and services, are considered an ecosystem.
• A platform is a way of organising that ecosystem and facilitating interactions between its members to create value.

Compared to traditional linear businesses where suppliers create the product or means of production, it is relatively easy and inexpensive to scale platform businesses. In a linear business, the inventory appears on their balance sheet, while this is not the case with a platform business.

Surprising as it may seem, Netflix is a linear business and not a platform business as it owns the licences of the content that it streams. Also, many SaaS businesses that market themselves as platforms, for instance, Amazon Web Services, are linear businesses that sell in-house developed products and services to multiple users.

Platform businesses are as old as the hills

In our highly connected world, we tend to think of platform businesses as new and modern, the natural extension of modern technology and the internet. However, we have been operating platform businesses for as long as human civilisation has existed. Ancient marketplaces and auctions held in Ancient Egypt and Rome were all platform businesses, as are today’s shopping centres and malls.  However, it is only in recent times that platform businesses have become so dominant.

Yet only recently have they dominated the economy

Since the turn of the 21^st century, platform businesses have grown exponentially and have overtaken linear businesses in leading the economy. Eight of the ten wealthiest companies are platforms, and globally around 60% of unicorn start-ups (start-ups worth over a billion dollars) are platforms.

This exponential growth has, of course, been fuelled by digital technology, but as we have indicated, it takes more than just technology to create a platform business. Technology makes creating platform businesses a much more straightforward and economic process.

The essence of a platform business

Platform businesses generate value through the core transactions they facilitate, thus optimising the core transaction elements of the platform is critical to success. These include:

• Building an audience
• Bringing together users and suppliers
• Providing the tools and services needed to facilitate the transactions
• Setting and enforcing rules, protocols, and standards

There are many different kinds of platforms. Some examples are:

• Technology platforms are not actual platform businesses as they market their own technologies to multiple users. However, they are often considered as such, even though they don’t connect platform participants. Examples include Twilio, Microsoft Azure and Amazon Web Services.
• Computing platforms connect users and third-party developers, typically through an app store. These may start with a parent building the technology side of the platform before launching it to third parties. For instance, Apple developed its initial iPhone apps through partnerships with other businesses, increasing the user side before opening the platform to third-party developers. Google did the opposite – they grew a developer network before launching an Android phone.
• Utility platforms such as Google and Bing attract users by offering free services. Once the user phase is established, they open the platform to advertisers.
• Interaction platforms such as Facebook, WhatsApp, LinkedIn and bitcoin facilitate interactions between users. Such interactions could be text, voice, and money transfer. The network builds organically as users attract more users who attract more users and so on.
• Marketplaces such as Amazon, eBay, Airbnb and People-Per-Hour connect the supply side with the demand side. The supply-side sets the prices, and the network builds organically with suppliers attracting buyers who attract more suppliers.
• On-demand platform services such as Uber deliver services fulfilled by independent suppliers, for instance, passengers and drivers.
• Content crowdsourcing platforms such as YouTube and TripAdvisor collect content from various users and share it with a broad user audience. Additional content attracts additional users.

Creating a platform

Adopting a platform business model is easy if you are a start-up. As we have shown, most unicorn start-ups did precisely that. Of course, not all have been successful; many platform start-ups have failed to take off or have eventually fallen by the wayside – think Friends Reunited and Sidecar. So what differentiates a successful platform and one doomed to failure?

Why platform start-ups fail

In his paper “Seven mistakes to avoid in launching and scaling digital platforms”, Rubén Mancha and his co-authors listed the following mistakes:

1. Failing to create a seamless digital experience
2. Failing to develop a vibrant ecosystem
3. Failing to protect monetisation opportunities
4. Failing to recognise and  balance strategic options at  three crucial  pivot  points
5. Failing  to  exploit the synergy  of  digital and physical  assets
6. Failing to innovate  beyond  the  digital  experience
7. Failing  to  follow  emergent  strategies

Wenhui Fu, writing on “The influence of platform service innovation”, categorised the main platform failure mistakes as:

1. Mispricing on one side of the market
2. Failure to develop trust with users and partners
3. Prematurely dismissing the competition
4. Entering too late

Other analysts have emphasised financial challenges, pricing, regulatory and legal issues, hubris, overconfidence and other personality traits of entrepreneurs.  Overall, creating a successful platform is far from easy, and there are many obstacles to overcome.

How platforms disrupt linear business models

While platform businesses are becoming increasingly dominant, this is often at the expense of linear businesses. Most businesses are linear, for instance, manufacturing, traditional education, SaaS (where software is developed by the business and sold on a pay-as-you-use basis), and e-commerce are all linear businesses. Any business that adds value to products and sells them to consumers can be considered linear; in other words, value is created upstream and flows downstream.   Such businesses seek an advantage over their competitors by leveraging their internal resources and providing their customers with channel access.

The platform business model turns this on its head. Platform businesses assemble hordes of connected users and resource ecosystems. For example, a traditional software business develops software that it sells to customers adopting a linear model. In contrast, a software business such as the Android app store leverages an army of developers to supply a much larger audience of users. The positive feedback of the user and developer network allows such enterprises to grow into behemoths.

So how can a traditional linear business survive in an increasingly platformed marketplace? The adage that if you can’t beat them, join them comes to mind. For instance, the software business we used in the example could refocus its internal expertise on developing its users’ capabilities. Thus, it could sell its products alongside those created by its customers, perhaps by creating building blocks that its customers assemble into products which it sells alongside its internal developments, thus relying on the network effect to grow. An alternative approach might be to build a network of similar developers which focuses on solving customer’s problems.

The power of the network effect rapidly increases the size of the customer base while driving down costs. When faced with competitors that strive to harness this power, surviving while maintaining a strictly linear approach may be too challenging. A hybrid approach that combines both linear and platform business models may allow a business to capitalise on its internal expertise alongside the power of the network.

Skills that platform start-ups need

As in all start-ups, strong personal skills, the ability to work long, arduous hours, and the willingness and ability to take on any role in addition to your niche are essential requirements. You also need to be able to get on with people; while geek culture still prevails in parts of silicon valley, people skills are in the ascendency. As a new employee, you must work well with the rest of the team while bringing a range of unique skills that will significantly impact the business. Here are some of the most important hard and soft skills you will need.

Hard technical skills

• Digital skills – whatever your specialisation, you need to be equipped with fundamental development skills:
  • Front-end development skills such as HTML, CSS, and Javascript, along with experience using frameworks and code libraries
  • Back-end development skills such as python, Ruby, MySQL and PHP
  • Full-stack developers capable of all front-end and back-end development are often crucial players in platform start-ups – it is said that Facebook at one time hired only full-stack developers.
• UI and UX skills – as platform businesses rely on end-user interactions with the company, products and services, user interface and user experience skills are highly sought.
• Sales and marketing skills are highly sought after. These include:
  • Relationship marketing, including branding, social media, and influencer marketing
  • Inbound marketing, including audience analysis and content creation.
  • Digital marketing such as SEO and CPC, which both require strong analytics skills
  • Direct marketing skills that focus on B2B interactions.
• Financial planning and analysis skills are the bedrock of successful start-ups. Good financial planners typically have excellent analytic skills and a deep understanding of business models.

Softer personal skills

• Initiative and resourcefulness are skills needed in any start-up.  Taking the initiative and finding resourceful solutions to problems that may seem intractable is a sure way to get ahead.
• Flexibility – in any start-up, the one thing you can rely on is constant change. To cope with this, you need to be flexible and willing to move on quickly.
• Enthusiasm – you must embrace what you do and your business aims; in other words, be a true believer in the mission.
• Patience and perseverance – don’t give up when things don’t turn out as planned. More often than not, they don’t.

The future of platforms

Apple, Microsoft, Alphabet, Amazon. Facebook, Alibaba, and Tencent are all leading platform businesses with a combined market value of $6.3 trillion. There is no doubt that platforms are here to stay. As we have indicated, many platforms fail. Successful platforms must finely judge the future trends that will lead to success.

Over the next decade or so, we will see platforms disrupt many more traditional businesses. AI and machine learning are likely to play an increasing role, and perhaps quantum computing will eventually prove useful. Driverless cars and ride-sharing platforms are now on the horizon. In general, ownership is likely to give way to sharing, organised through peer to peer transaction platforms

The post Platforms, Ecosystems And Wealth Creation first appeared on Horton International.

In this interview, Gary Woollacott and Dr Santrupt Misra share a thought-provoking discussion on the following topics:

• Changes in corporate governance brought about by the 2020 pandemic
• The pros and cons of globalization
• The evolution of corporate attitudes to wellness
• How to keep your staff engaged whilst working from home
• How to onboard new team members remotely
• Cultural differences in response to Covid 19

It was a real pleasure having Dr Misra talk us through his take on the current state and future of work, and we hope that you enjoy the interview as much as we did!

BIOS

Dr. Santrupt Misra is currently the CEO, Birla Carbon;  Director, Chemicals – and Director, Group Human Resources for the Aditya Birla Group,  a USD 46 Billion global conglomerate.

A Business leader and an HR Professional of standing, with over three decades of experience in —  global business leadership –  corporate governance – organizational transformation –  non-profit leadership – and professional development.

Santrupt has worked at Board level for over two decades – as Non-Executive Director and Executive Director in publicly listed companies, unlisted companies, and not for Profit Organizations both in India and overseas.

• He is a Director in several companies of the Aditya Birla Group including Aditya Birla Capital Ltd., Grasim, and Birla Carbon Thailand,– which are listed companies.
• He was an Independent Director on the Board of the Oil and Natural Gas Corporation Ltd. a leading Government of India enterprise, (Revenue US 61 Billion), and the Chairperson of the Board of Governors of the National Institute of Technology, Rourkela.
• He is also on Governing Bodies of professional organisations/associations such as the Association of Executive Search Consultants (AESC).

He was also on the Board of the Xavier’s Institute of Management.

Under his leadership Birla Carbon has emerged as a global leader in the carbon black space.

He has been instrumental in developing a strong employer brand for the Aditya Birla Group, which was named:

• The Best Employer in India- by AON Hewitt
• Great Place for Leaders to Work,  by Fortune Magazine
• Top Company for Leaders by RBL group   

Dr. Misra holds two Post Graduate degrees in Political Science from the UTKAL University and in Personnel Management & Industrial Relations, from  the Tata Institute of Social Sciences.

In addition, he also holds two PhDs

In Public Administration from India and Industrial Relations from UK

He also holds an honorary D.Sc. degree from Aston University, U.K.

He is a Fellow of the National Academy of Human Resources (NAHR), USA;

Hon. Fellow of the Coaching Federation of India;

an Eisenhower Fellow,

an Aston Business School Fellow,

an AIMA Fellow

and a Commonwealth Scholar.

Gary Woollacott 

Gary is Managing Partner of Horton International in Thailand and Vietnam –  Regional Director of Asia Pacific and
one of Horton’s longest standing Board Members.

Gary has twenty years’ experience in executive search, and extensive experience in the financial sector having spent the first part of his career working in investment banking in London and Sydney.

He has a bachelor’s degree in economics, and a master’s in financial management

He is known at Horton for his “thought leadership” pieces.

Dipy Nigam

Managing Partner & Country Manager for India and SAARC countries at Horton International 

I hold a Masters in Management from Jamnalal Bajaj Institute – and a PHD

I’ve been with Horton International for over twelve years and prior this joining the group, I worked with VIP industries , American Express, Hay Management consultants

The post Leadership through Covid-19: An interview with Dr Santrupt Misra first appeared on Horton International.

A recent McKinsey report shows just what diversity can do for businesses. At Horton International, we’re here to make attracting, retaining and supporting diverse talent easier for your business, so that you can reap the rewards.

With this in mind, this post is the perfect starting point of building your business case for improving diversity in your team.

Business Lessons From Pandemic Leadership

Many lessons are coming out of the COVID-19 pandemic. There have been stark differences in the effectiveness of different nations responses to the crisis. It is hard to ignore the fact that if you collect together the most successful nations, you will find a lot of female leaders.

In Denmark, Mette Frederiksen gave clear, firm instructions which have spared the country considerably while also earning her wide praise for her response. In Norway, Erna Solberg was also praised for her response and effort to curb the virus by focusing on a science-driven approach. While in Finland, Sanna Marin – the world’s youngest head of government – also helped to ensure a minimal spread of the virus.

Another example, Germany, led by Angela Merkel, has one of the lowest death rates in Europe. These are a few extraordinary women in exceptional circumstances, but to ignore this trend would be foolish. Women in leadership positions can be highly successful.

So, how does this translate to business? The reality is that this is just more evidence for a trend that has already been shown to exist. The most recent McKinsey report has followed more than 1000 large companies, across 15 countries for the last five years. It shows that the most diverse companies are more likely to outperform less diverse rivals in terms of profitability. This doesn’t just mean gender diversity, but ethnic diversity too.

Benefits Of Gender Diversity In Leadership 

The Mckinsey report found some compelling arguments for gender diversity in executive positions. They found that the top quartile of gender-diverse companies was 25% more likely to financially outperform their industries average, as compared to companies in the bottom quartile.

The report also found that the higher the representation of women, the more substantial the effect. So, when it comes to a company’s bottom line, it seems clear that having more representation of women is going to improve the chance of boosting profits.

Benefits Of Ethnic And Cultural Diversity In Leadership 

The impact on profitability for ethnically diverse companies is even more significant than for gender diversity. The top companies outperform the bottom ones by a staggering 36%. And again, the larger the representation, the more substantial the effect. If you are looking for a business case for increasing diversity at the top of your company, then this is it.

What Is Behind These Effects?

It is not at all unreasonable to question why diversity within a leadership team would lead to these results. It comes done to having more options and more points of view. A simple way to illustrate this idea is with tomato ketchup.

Generally speaking, there are two types of people—those who keep ketchup in the cupboard and those who keep it in the fridge. If you are in a room full of people who only keep ketchup in the fridge, then you may not even consider looking for it elsewhere. More viewpoints increase your chances of finding what you’re looking for.

This explanation can help with understanding why nations with female leaders have done better in the current crisis. Typically their teams are more diverse. They had more points of view in the room. So, they had more options to deal with the crisis. It’s not that male leaders couldn’t have made the same choices; it’s more that they may not have known there are other choices to make.

Having a significant and clear female and ethnic presence within the leadership team is a way of signalling the company’s ethos. For any talented individuals that you hope to recruit the makeup of the company’s leadership will factor into their decision-making process. Having diversity at the top will become self-sustaining as it will draw more diverse talent into the company at all levels.

Why Inclusion Matters Just As Much As Diversity

It can be tempting to think that the task ends after you make some hiring decisions. Unfortunately, it’s not that simple. Nothing ever is. The next challenge comes from building a company where all the voices you have collected can feel included. Without a focus on inclusion, you may be able to get more diversity in the door, but you might not keep it. You also may not see the benefits.

You get benefits from diversity when the minority voices in your company can be heard. If those voices do not feel able to speak up, then you lose your advantage. To achieve this, you need to build a culture of inclusive leadership. There must be equality of opportunity, and communication should be open and free from discrimination or bias. This is a challenge that even the leaders in diversity are still working on mastering

How to Improve Your Company’s Diversity and Inclusion

So the next big question is how to go about bolstering the diversity and inclusion of your company. There are a few best practices that are common among the best performing companies in the McKinsey report.

Focus On Pushing Diverse Talent

To make progress on this front, the forerunners have used a data-driven approach. Following analysis of their starting position, they targeted the specific variety of diversity they needed. Every opportunity is taken to advance these talents once they are recruited.

Accountability

The responsibility for diversity and inclusions shouldn’t solely rest with HR. All leaders within the company need to take responsibility for and be held accountable for promoting diversity and inclusion.

Remove Bias From Advancements

Advancement decisions, raises and promotions should be carried out openly and transparently. Where possible, they should be data and analytically driven. The aim is to remove bias from these decisions, whether is it conscious or not.

Managing Diversity And Inclusion In The Face Of COVID-19

There have and will continue to be many challenges for companies of all size over the coming months and years. The fall out of the pandemic will be felt for a long time. Unless care is taken, it can erode any progress that has been made in terms of expanding diversity.

As a company, you need to be aware of the risks. It would be best if you tried to focus on protecting the diversity you have. Your more diverse team members are the most at risk of being cut or lost. It would help if you also made plans to continue to build your inclusion policies. Remote working can easily chip away at morale.

In Summary

Diversity within your leadership team has the potential to boost your company’s profitability in a significant way. To get there, it requires focus and policies aimed at building both diversity and inclusion at all levels of your company.

At Horton International, we’re here to help you find the right talent for your business. With this, it becomes easier to grow and develop inclusion throughout your business to foster exceptional talent and see the outstanding results that can come from a diverse and inclusive workforce.

The post Your Business Case For Improving Diversity In Your Leadership Team first appeared on Horton International.

An interview with Martin Krill, Managing Partner of Horton International Germany and Thomas Wetzel, head of training & coaching for Hager Unternehmensberatung.

There has been a lot of activity in C-level positions in recent years, with numerous new titles being added. What can we deduce from this and to what extent is this an indicator of changes in the world of work?

Martin Krill: When new job titles are created, it’s usually about more than just semantics. At C-level, job titles are an expression of power, of professional recognition. Whenever the C-level spectrum is expanded, and new positions are created, it’s a sign of a change in corporate strategy. The organizational structure below CEO level illustrates which are the most relevant topics and therefore which areas of the company will become more important in future.

Which exciting CxO positions have been added in recent years?

Martin Krill: The subject of compliance, for example, and the position of chief compliance officer have become more relevant in many companies. Human resources is also being prioritized quite differently. HR used to be almost neglected and was essentially restricted to the HR board. Nowadays, companies have chief happiness officers, which allows us to draw conclusions about the importance of corporate culture. The position of chief diversity officer is also relatively new; it didn’t even exist five years ago. These are all issues where companies want to take a strategic position. The area of security, which used to be not necessarily at C-level but rather under the COO, has also become more important, even if it’s perhaps not that new. Nowadays, companies often have a chief information security officer or even a chief security officer. So, you can see that IT security or security, in general, has taken on a completely different significance.

The US is a pioneer in terms of CxO. Is it a question here of synchronizing increasingly global jobs?

Thomas Wetzel: I was already familiar with this even before it caught on in the German economy. I have a military background and have worked a lot in an international context. There was a very clear hierarchy: the chiefs made up the highest rank. They were the ones who had the power to make decisions. That has also become important in business, as positions can’t be defined as easily as they used to be. Take the chief growth officer, for instance. That covers a broad spectrum, depending on whether the company is a small, medium-sized enterprise or a DAX-listed corporation. The position remains the same, but the company size determines the size of the playing field. But the title conveys the same message: I’m the one who makes the decisions. That’s become very important in business.

On one hand, we’re seeing more and more differentiated job titles, but on the other hand there’s a tendency towards flatter hierarchies – the catchword here being New Work. How can you explain what essentially is a contradiction?

Thomas Wetzel: I’ve been dealing with New Work for decades, but unfortunately, it’s now become a buzzword because there isn’t a precise definition for it. Much of what is now called “New Work” already existed in the 70s, but back then it was known as lean management. But that is only by the by – there’s a risk that terms become so diffuse that it’s almost impossible to work with them. Actually, the question about New Work is not whether or how hierarchies have changed but rather: How are managers behaving in the current world of work? How should we deal with the younger generations who are now moving up in these companies? How do you manage to be a good conductor for those specialists and other soloists who will join your orchestra in the years to come?

Thomas, you deal with the subject of development a lot. How can you best promote young talent? What are the important skills?

Thomas Wetzel: The topic of leadership is becoming increasingly important. Graduates have received excellent technical training. What they need to learn are social skills: How to deal with other people. I believe you can encourage young talent by giving them early responsibility. I’ve seen people in their mid-twenties who’ve already had five or six employees and managed them really well. It’s noticeable though how they have mostly trained abroad. Studies there naturally include subjects such as psychology and philosophy, so you learn how group dynamics work.

Martin Krill: In the last five to ten years I’ve seen a generational change in many companies. In other words, digitization has created great pressure to innovate in banks, insurance companies and more traditional companies. As a result, more and more young talents have moved into C-level positions, especially into roles such as the CIO – the chief information officer, or CDO – the chief digital officer. These new leaders naturally had and still have to follow a steep learning curve, which is definitely an advantage in this rapidly changing market. At the same time, we can now see, even in this current phase, that this can also be critical, because decision-maker positions are filled with people who haven’t yet had to manage a crisis in their professional lives. At least not such a fundamental one right now like COVID-19.

To what extent does this generation still covet position and title? Has the concept of a career changed? Does the younger generation really tend to be purpose-driven?

Martin Krill: I think that in the end, it’s always a question of personality. Not everyone has the right level of motivation or maybe even the right kind of ability. Then again, others attach extreme importance to titles. We recently conducted a survey about the “workplace of the future”. This revealed that many candidates are increasingly concerned about being able to realize their personal abilities, and to freely shape their own lives and that is considered more important than having responsibility or power. Nevertheless, a title is definitely crucial for some.

Thomas Wetzel: I share Martin’s opinion. What actually constitutes a career is a really exciting topic. Here’s another example from when I was in the army. I was a specialist for explosives, defused bombs and terrorist packages. And during operations in the field, for example in terrain where there were unexploded bombs, I was everyone else’s superior, even though I held a subordinate rank, simply because of my specialist training. Even when a high-ranking officer was present, I could say: “If you ignore my order, you will be held responsible if something happens at a later stage.” They always complied then. But still, you didn’t want to meet them again (laughs). To get back to Martin’s point, I also notice that people tend to define themselves via the content of their job rather than through holding a specific position in the hierarchy. But it will still take a while before this is the case everywhere.

Which brings me nicely to the next point: what will the working world look like in future, when it’s organized into networks and it’s no longer standard to have a permanent job in a company. Won’t job titles automatically become less important?

 Martin Krill: Yes, but I assume that CxO titles with international acceptance will continue to exist. Certainly, jobs and responsibilities will change in a new working environment but it’s not yet possible to say exactly how. However, it’s very likely, and in some cases is already becoming apparent, that working in networks will break up areas of responsibility and more responsibility will be transferred to decentralized teams and units.

I’d be interested to know, Thomas, what issues are you increasingly facing in your training sessions?

Thomas Wetzel: An important aspect is how different generations can work together. Younger people are trying to work out: how do I manage to lead people who are ten years older or even in my parents’ age group? More experienced employees are motivated by the question: how should I deal with the up-and-coming generation, who are demonstrably better educated and at a higher technological and scientific level. So, the buzzword here is loss of power. Without sounding cynical, for companies, the challenge is: what should we do with residual executives? Not in the sense of getting rid of them, but of keeping them onboard. Many employees have been with the company for two or three decades and they have a low, latent willingness to change. What should you do with those people who are only interested in preserving prosperity, and not in seeking new horizons? How do you motivate them?

A delicate subject. What are the special challenges faced by those companies in the midst of transition? 

Martin Krill: In many companies, there is indeed a succession issue. And/or there are new investors who want to initiate change, especially in the management structure. This has to do with the implementation of new roles due to digitalization and new business models. This can go hand in hand with the introduction of new positions at C-level. In other words, this can mean that one or two positions are replaced.

Is it always a question of age? Or is it more about a certain mindset?

Martin Krill: How innovative someone is, how many new ideas and how much passion they invest in his or her management job isn’t necessarily linked to age. It’s also not linked to gender. Rather, it’s about the composition of the management team. The question is: what kind of dynamic is present? Often new appointments result from an analysis of which additional skills are required. And then it’s not a question of age but really a question of personality and the company’s situation, and what’s currently advisable. For example, we’re currently seeing, partly due to the difficult market situation, that the position of CFO is taking on completely new relevance in many companies. Finance and controlling are being reevaluated. Experienced and seasoned CFOs are in demand, managers who have already navigated critical market phases. Anyone can sail a boat through calm waters. But what if it’s stormy? In this case, age can even be an asset.

This article was written by Natascha Zeljko of Female One Zero, and is part of a content cooperation between FemaleOneZero (F10) and Hager Unternehmensberatung. The company, which specializes in executive search, has repeatedly been named one of the best personnel consultancies in Germany by the magazines WirtschaftsWoche and Focus. Hager Unternehmensberatung employs around 110 people and, in addition to its extensive know-how in the field of digitalization, is also considered a specialist in issues relating to diversity and innovation.

The post What C-levels Reveal About Our Working World first appeared on Horton International.

Many organisations have implemented inclusion policies and have diversity training that is part of the induction process. While many organisations believe to be inclusive, many LGBTQ+ employees still face discomfort and discrimination in the workplace. For example, 60% of LGBTQ+ survey respondents reported needing to correct assumptions that colleagues make, and 40% of LGBTQ+ women felt they had to provide additional evidence to prove their competence.

One of the biggest areas that can boost workplace advocacy is education.

No organisation is perfect

With all areas of employee support and diversity in the workplace, it is simply not possible for LGBTQ+ training to be a ‘set and forget’ practice. By adopting a growth mindset, organisations can always learn more and improve procedures and policies to be more inclusive and supportive of every single team member in the business.

Benefits of LGBTQ+ training in the workplace

Legal compliance

While this shouldn’t be the driving factor for creating an inclusive workplace, it is an important consideration for organisations. As part of the Equality Act 2010, there is a requirement for employers to take all reasonable steps to prevent discrimination in the workplace.

By taking all reasonable steps, the organisation will not be liable for incidents of offending behaviour. However, without this training, awareness and anti-discriminatory policies, the organisation could face severe consequences.

Boost recruitment

Attracting talent is a big challenge for employers in a super competitive market. Many organisations are facing a significant skills gap, and attracting and retaining talent is becoming a major priority. A diverse workforce is seen as a significant benefit to job seekers. In fact, 76% of job seekers say that diversity in the workplace is an important factor when considering potential employment offers.

Furthermore, one in three employees would not apply for a role where there is a lack of diversity in the organisation, which rises to 41% for LGBTQ+ job seekers.

As part of the recruitment drive, emphasising what the organisation does in terms of LGBTQ+ advocacy and training can significantly boost the number of applications. What’s more, job seekers are more likely to trust employees compared to senior leaders, websites and recruiters when it comes to understanding diversity. Consequently, the LGBTQ+ training, discussions and advocacy within the work that operates across every level can help boost recruitment and attract top talent.

Productivity through training

A diverse workforce is a more productive workforce. Training can help foster a culture of acceptance and belonging for LGBTQ+ employees, who can face feeling isolated, marginalised, or unsafe at work. Training and advocacy promotion can help to build awareness and inclusivity within the workplace.

Advocacy can feel limited at work as people may feel scared of standing up, understanding accepted terminology or feeling like they don’t know enough to stand up and raise their voices. LGBTQ+ training can help to build confidence in knowing what to say, how to help and why advocacy can be so important in the workplace.

All of this, from learning more, creating a more welcoming culture and building advocacy, can bring your teams together, creating improved employee engagement, which, in turn, increases productivity.

How to implement LGBTQ+ training at work?

LGBT training can be implemented in various ways depending on the needs and goals of each organisation. Some possible steps are:

Assess

A needs assessment can help to identify the current level of awareness and acceptance of LGBT issues among employees and managers, as well as the gaps and challenges that need to be addressed.

Align

Developing a clear vision and strategy for LGBTQ+ inclusion that aligns with the organisation’s mission, values, and objectives can create synchronicity for the organisation.

Tailor

Designing LGBTQ+ training programs tailored to the specific context and audience of each department or unit. The training programs should cover topics such as terminology, stereotypes, myths, facts, laws, policies, best practices and case studies related to LGBTQ+ issues.

Evaluate

As well as delivering training, it is important to evaluate the impact and effectiveness of the training programs. This can be done using feedback surveys, interviews, focus groups or other methods. The evaluation should measure changes in knowledge, attitudes, behaviours and outcomes related to LGBTQ+ inclusion.

Maintain

Finally, it is important to provide ongoing support and resources for employees and managers who want to learn more or get involved in LGBT initiatives to build a workplace of advocacy. This could include mentoring programs, employee networks, online platforms, events or campaigns.

LGBTQ+ training is not a one-time event but a continuous process that requires commitment and collaboration from all levels of the organisation. By investing in LGBTQ+ training, organisations can create a more inclusive workplace where everyone can thrive and the business can prosper

The post Benefits Of LGBT Advocacy And Training At Work first appeared on Horton International.

LGBTQ+ inclusion training is a form of diversity and inclusion education that aims to foster a respectful and supportive work environment for lesbian, gay, bisexual, transgender, queer, questioning, intersex, asexual and more (LGBTQIA+) employees and customers.

LGBTQIA+ inclusion training can help organisations to:

Boost awareness

Increase awareness and understanding of LGBTQIA+ identities and experiences. For example, the training can cover topics such as LGBTQIA+ terminology, history, culture and rights. Training can also address common myths and stereotypes about LGBTQIA+ people and how to challenge them.

Tackle discrimination

Reduce bias and discrimination against LGBTQIA+ people. For example, inclusion training can teach employees how to recognise and avoid microaggressions, harassment and bullying based on sexual orientation or gender identity. Inclusion training can also provide guidance on how to handle complaints and incidents involving LGBTQIA+ discrimination.

Grow allyship

Promote a culture of respect and allyship. For example, inclusion training can encourage employees to use inclusive language and pronouns when communicating both internally and externally for the organisation. Inclusion training can also inspire employees to support and advocate for LGBTQIA+ colleagues and customers in the workplace and beyond.

Increase engagement

Enhance employee engagement and retention. For example, inclusion training can demonstrate the organisation’s commitment to LGBTQIA+ inclusion and its benefits for the organisation’s performance, reputation and social responsibility. Training can also foster a sense of belonging and pride among LGBTQIA+ employees and allies.

Highlight diversity

Attract and retain diverse talent and customers. For example, inclusion training can showcase the organisation’s policies, practices and initiatives that support LGBTQ+ inclusion, such as employee resource groups, mentoring programs, events and partnerships. The training can also highlight the organisation’s value proposition and competitive edge for LGBTQ+ talent and customers.

Implementing inclusion training

While inclusion training offers a range of benefits described above, implementing LGBTQIA+ inclusion training can be challenging for some organisations, especially if they need more knowledge, resources or commitment to do so effectively.

Here are some tips on how organisations can implement LGBTQIA+ inclusion training successfully:

Baseline assessment

The first step in becoming a more inclusive organisation is to assess the current state of LGBTQIA+ inclusion in the organisation. A baseline assessment of the current state can give a starting block. It can be done using a survey or focus group to gather feedback from LGBTQIA+ employees, advocates and allies on their experiences, needs and expectations.

At this stage, it is important to identify the strengths and gaps in the organisation’s policies, practices, and culture regarding LGBTQIA+ inclusion. A SWOT analysis can be helpful at this stage.

When conducting baseline assessments, organisations can then use the data to set goals and priorities for improvement.

Build involvement

Involving LGBTQIA+ employees and allies in the design and delivery of the training can further build inclusivity. Seek input from LGBTQIA+ employees and allies on the content, format and objectives of the training they want to see.

It can also help to Invite them to share their stories, perspectives and insights as part of the training, but only if they feel comfortable doing so. It is essential to ensure that the training is respectful, inclusive and relevant to the organisation’s context and goals.

Align with organisational objectives 

Whether developing internal training, working with a diversity lead or external training provider, it is important that the training aligns with the organisation’s values, culture and objectives. It needs to feel relevant to everyone in the organisation. It also needs to be focused to achieve the organisation’s training goals.

Ongoing improvement

Following any inclusion training session or rollout, it is also important to provide ongoing support and follow-up after the training. With this, it can help to reinforce the learning outcomes and create action plans from the training through regular communication, feedback and recognition.

Furthermore, it can help to provide additional resources and opportunities for employees to learn more about LGBTQIA+ inclusion.

In this maintenance phase, it is important to monitor and evaluate the impact of the training on the organisation’s performance, culture and climate.

It is important to stress that LGBTQIA+ inclusion training is not a one-time event but a continuous process of learning, growth and change. By implementing LGBTQ+ inclusion training effectively, organisations can create a more diverse, inclusive, and thriving work environment for everyone.

Celebrate diversity

As well as undertaking training, it can increase employee engagement by celebrating and showcasing the organisation’s commitment to LGBTQIA+ inclusion. This can be celebrated in several ways, such as recognising and rewarding employees who demonstrate LGBTQIA+ inclusion in their work.

It can also help to showcase the organisation’s achievements and initiatives in LGBTQIA+ inclusion through internal and external channels. Joining or supporting LGBTQIA+ networks, events, and causes in the community can often align with organisational values. Furthermore, it can help to communicate the organisation’s vision, mission, and values regarding LGBTQ+ inclusion to all stakeholders

The post How To Implement LGBTQIA+ Inclusion Training first appeared on Horton International.

Many companies have added diversity clauses to their compliance statements and recruitment policies already a long time ago. For many reasons, women’s role, participation, number, etc. have been raised up recently, so I’m not going to talk about that. What I really would like to see, and maybe am seeing a little more just lately, is diversity in the background and business, also in roles involving business P&L -responsibility.

I hear you saying that this has been around for quite some time and yes, it’s been in discussions and even target settings. However, it has not come true. Maybe there is not enough push for it. It might be that traditional business is still going strong, and thus, no need to change how to lead it. There may be a certain amount of protectionism in the “old boys’ clubs” and also, it is sometimes difficult to admit what you don’t know. It’s likewise so much easier to lead a team with look-alikes.

Companies realize their future lies in new products and services but it is difficult to predict. Many companies struggle when trying to understand the future and where to take their business. I see two solutions: first to hire CEOs from outside the business, and then secondly, for the CEO to hire a diverse team from different businesses. In both cases what comes much more important than the solid track record in this particular manufacturing industry, this exact finance sector or retail branch is the ability to lead people. The ability to motivate, empower and get the best out the different people in the company, is crucial. Also the ability to think out of the box when trying to navigate in the ever changing game of new business development. This is especially needed in those businesses that are changing rapidly. But are there any others left?

Next time when making a hiring decision: Make it differently! Make it truly diverse, deeply… maybe even madly?

#recruiting #diversity #diversitymatters

The post Recruiting for Diversity, Truly first appeared on Horton International.

As Rob Briner, Professor of Organisational Psychology at the Queen Mary University of London’s School of Management, points out: “to say ‘we want the best person for the job’ subconsciously presumes some objective hierarchy of talent exists when it comes to the next executive superstar, rather than this being context-dependent”.

Sometimes it is too easy to fall into the trap of simply upgrading the current candidate profile by adding extra elements that are seen as contributing to the next candidate being able to deliver a stellar performance. This is a largely context-independent approach.

To quote Professor Briner: “You have to stand back and consider whether you need the actual best person, which is a slippery concept, or someone who can do a really good job. Because they are – or can be (my addition) – two completely different things”.

That pushes the responsibility back onto people to decide: what is it we actually want here? This can be challenging, not only because it is not difficult to get distracted by the concept of the superstar vision, but also because it means that it is necessary to think not only about the role, but the context too.

How the Executive Search Consultant can add value 

And this is where the Executive Search Consultant should contribute. At Horton International, our business experience underpins our client relationships. We work with our clients as partners. This approach demands significant investment in understanding the client, their business, culture, and what their real requirements are.

We have evolved a more strategic and holistic approach to our service. One that focuses on satisfying the real needs, not just the delivering of bodies for a shortlist. The experience and knowledge of our consultants enables us to have meaningful and constructive discussions with our clients. This ensures that there is mutual agreement, combining context and profile, on what the requirement actually is and to contribute to the subsequent definition of what the optimal candidate might look like.​

Diversity in Executive Search 
Elisabeth Kelan, Professor of Leadership and Director of the Global Centre for Gender and Leadership at Cranfield School of Management, believes that “Much executive search is still happening via cosy conversations in private members’ clubs over a huge glass of whisky,” This, she says, is why diversity is still so overlooked.

This is a dated concept of what Executive Search should be and comes into the “little black book” era of recruitment. Which, as Professor of Business Psychology at UCL, Tomas Chamorro-Premuzic points out “the executive search firm’s little black book of contacts looks increasingly obsolete”; it is not yet dead, but will be soon.

How we work at Horton International 
At Horton International, we never compromise on our pursuit of excellence in all that we do. If our client wants to recruit a photographer, we do not put forward just anyone with a camera. Once the basics of the requirements are defined and agreed, we use all our resources to identify suitable candidates. We research internationally and do fresh research for every assignment. We do not recycle the same faces again and again, which has been a not uncommon characteristic of Executive Search in the whisky and black book era.

The post The candidate you want or the candidate you need? The added value available from Executive Search Consultants first appeared on Horton International.

The post International Women’s Day 2019 first appeared on Horton International.

But is this the case at all hierarchical levels? Everyone who has heard about women’s quotas knows that women are rarer at board level. But this is not always a matter of chance. And how many people of colour are in the CEO role in German-speaking countries?

Are these groups of people less qualified just because they don’t fit into the frame of the image brochure they are looking for?

Unfortunately, thinking here is often still strongly influenced by conservative value patterns.

In many large German companies and corporations, you will also find the so-called ‘boy groups‘, which are located directly below the board level and are on the waiting list for the next vacant position. Which opportunities remain for female candidates and/or people of colour?

I can only advise companies that want to strengthen their employer branding and put on a positive PR to pursue a well-thought-out recruiting strategy and not to stick to old traditions or machinations. Ultimately, everything comes to light at some point, and a public outcry about an old boy’s network within a company is detrimental to any glossy brochure.

The post Diversity – everyone is discussing it – but which company implements it on all levels? first appeared on Horton International.

With five children in her care, Anna Bissell vigorously defended the company’s legal patents as she moved its products into the international market. By the dawn of the 20th century, Bissell, Inc. was more successful than any of its competitors. Queen Victoria herself was enamoured with Bissell carpet sweeper, and regularly asked for the carpets at Buckingham Palace to be “Bisselled.”

But it wasn’t just the financial growth of the company that made Anna’s tenure as CEO notable. As chairman of the board, she brought forth progressive internal policies that were rare in those days, including pension plans and worker’s compensation. She was actively involved in numerous advocacy organisations for women and immigrants, including Zonta International, Bissell House, and the Blodgett Home for Children. She was a founding member of the Ladies Literary Club, and the only female member of the U.S. National Hardware Men’s Association.

What can Anna Bissell tell us about modern business?

There is growing evidence that female leadership is a boon for business, and that organisations with a stronger female presence at the executive level will see tangible gains in performance.

A 2016 study by the Peterson Institute for International Economics surveyed nearly 22,000 companies in 91 countries, and found positive correlations between corporate performance and the presence of female leadership. For example, companies whose senior leadership comprised of 30% women experienced a 15% increase in net profit over companies who had no female leaders.

Such performance gains, the study suggests, could be attributed to a greater diversity of skillsets in companies with more female leaders, or to the absence of gender-based discrimination that might block better candidates from being hired or promoted.

From a recruitment and talent management point of view, the rise of female leadership has a lot to teach us about the cultures, attitudes, and analytical skills that drive better performance. We keep hearing that success in business is increasingly linked to work cultures that 1) encourage innovation and 2) help employees achieve greater overall balance in their lives. It’s also been shown (in a global report by Unilever, for example) that vast numbers of people prefer to support businesses with strong environmental principles. So how does female leadership help build these organisational traits?

Questions of neurochemistry

It’s tough to quantify the differences in female and male brain chemistry, and to draw conclusions that apply to business. But researchers are trying, and the results are worth a look.

• A University of Pennsylvania study found “greater connectivity from front to back and within one hemisphere in males, suggesting their brains are structured to facilitate connectivity between perception and coordinated action. In contrast, in females, the wiring goes between the left and right hemispheres, suggesting that they facilitate communication between the analytical and intuition.”

• A University of California study found that women, on average, have ten times the amount of white matter in their brains. Gray matter is effectively the ability to process information. White matter is the ability to draw connections between information processing centres in the brain.

The California study notes that despite common differences, brain designs are highly unique regardless of sex. It concludes that “no single neuroanatomical structure determines general intelligence and that different types of brain designs are capable of producing equivalent intellectual performance.”

That said, it seems possible that one advantage of a stronger female leadership presence is a stronger ability to discover unseen connections and pain points within the organisational framework.

Where are things headed?

Weber Shandwick’s 2016 Gender Forward Pioneer (GFP) Index measured the presence of female executives at Fortune 500 companies. It found that women account for 10.9% of senior executive positions, but that 40% of Fortune 500 companies did not have any women in a senior leadership roles. The study also found that Fortune’s “Most Admired” companies had an average of 17% female senior leadership, while companies that didn’t make the “admired” list had an average of 8% female senior leadership.

Finding the right fit for any position, within any organisation, is a highly individual process. Organisations themselves are rather like human brains – each one is a unique architecture with different strengths and weaknesses. What’s clear is that businesses need a diverse, flexible, and creative vision if they want to compete on a global scale. Anna Bissell provided this to her company at a time when it was practically unheard of. Today, more companies are beginning to see what they have to gain by developing a stronger female leadership – and what they have to lose if they don’t.

The post Why Female-Friendly Companies are Winning first appeared on Horton International.

International Women’s Day is a time to reflect and celebrate the social, economic, cultural and political achievements of women.

Here at Horton International, we are passionate about diversity, we believe gender equality is not a women’s issue, it’s a business issue. 

We caught up with some of the Horton International team to get their thoughts on International Women’s Day,  #EachforEqual and how Horton International continues to work with our clients to create equal working environments.

An equal world is an enabled world.

Dr. Monika Becker, Business Unit Director for Horton International Germany shared: “We can actively choose to challenge stereotypes, fight bias and broaden perceptions. From my point of view, women can do even better in supporting each other, building networks and celebrating the achievements of their female colleagues and friends.”

Ani Närhi, Country Manager for Horton International Finland:

“How can we, as recruitment professionals challenge stereotypes and fight bias more? 

Our newly formed promise to our clients is to include diverse candidates in all of our shortlists. From here on it will guide us even stronger than before.  We can actively choose to challenge stereotypes, fight bias, broaden perceptions, improve situations and celebrate women’s achievements.”

Nina Ariluoma,  Managing Partner for Horton International Finland:

“We all agree that diversity drives business performance. Yet there is a gap between the reality and business leaders perception of the progress. 

I am passionately helping our clients to build truly equal environments – One leadership position at a time.”

Gemma Van Rooyen, Project Manager – Board Affairs & Business Operations for Horton Group International.

“Even though we have made huge progress when it comes to global equality for women, the fight continues. Women are still lacking in recognition and compensation, this has to change. We must all make a concerted effort to celebrate our fellow women’s achievements and support one another through our challenges.”

Amy Cutbill, Digital Marketing Manager Horton Group International

“I feel proud to be part of a company that works towards increasing the number of talented women placed in top leadership positions and believes, at its core, that diverse teams achieve better results.

The post International Women’s Day 2020 first appeared on Horton International.

How an organisation can provide the very best experience to their employees

According to HR leaders, enhancing employee experience is a practice embedded in the company ethos. It is the systematic way through which a company designs and curates long term policies to ensure employee satisfaction. Creating policies based upon enhanced employee experience will always have the employees at the very heart of the policy making.

The employee experience starts from the moment a job offer is accepted. It involves your company culture, the benefits offered, the communications within the organizations, the work environment, the tools provided and development opportunities.

If you are looking to increase employee retention rates, take a look at these tips:

Start at the very beginning – Create a great onboarding experience

Along with all the necessary tasks such as getting set-up with appropriate kit etc, you need a programme that makes a new employee feel valued, welcomed and gives them what they need to do their job, from the very beginning.

The programme should also be tailored depending on the audience so that it truly speaks to them and what they are joining to do.

Lead by example – Organizational Culture

Organizational culture, once practiced by the leadership team automatically trickles down to the employees. It is anchored in HR policies which place the employee first and truly cares for them. Policies which include and promote features such as:

–       Flexibility (such as the ability to work remotely when possible)

–       Autonomy

–       Accountability

–       Collaboration

–       Transparency

–       Diversity

–       Inclusion

Communication is key

Internal communications are vital in creating a real sense of involvement and community within a company, especially at a time when more and more people are working remotely.

Engaging a workforce by asking for their feedback and opinions, including them in decisions and sharing knowledge all helps to make them feel valued, involved and part of a community.

And how best to communicate?

Make use of the technology that is available now, that could be collaboration tools such as Slack, or video conferencing that enables you to still have face to face meetings and keep global & remote teams connected.

Work Place Technology

Outdated work place technology causes frustration, with updated systems and seamless technology, employees perform and communicate better. Technology that assists efficient performance and connectivity is considered one of the most important tools that aids employee experience.

Physical Space

It may not be something you’d think of immediately, but physical space has a huge impact on employee productivity and satisfaction. The way the office is set up, it’s take on open door policy, accessible infrastructure all have a significant role to play in how an employee feels about the work place.

Investing in wellness and wellbeing

Some companies will offer gym memberships or may have an on-site facility as part of the benefits package, but also offering employees support by providing programmes for mental health and emotional wellness is just as important, and can help reduce sickness along with stress-related issues.

Promoting career development

If an employee can see a real possibility of career progression and feel they are being invested in, they are much more likely to stay on with a company. Taking the time to discuss career goals, along with giving access to mentors who can coach and help develop will all help to nurture loyal employees.

“Coaching is the most potent tool for introducing lasting personal change.” Anja de Leeuw – Horton International Executive Coach

So how does a company judge how it’s faring on the employee experience meter? Here are some simple ways to go about it:

Employee Surveys: Regular employee surveys that take feedback from the workforce about their opinions can be a game changer. It makes the employees feel involved in company policies and helps leadership gain direct insight in the employee experience pulse.

But don’t ignore that feedback!

Once you have received the feedback, make sure it is acted upon. Employees are much more likely to engage and share their honest thoughts if they know their opinions are listened to. By sharing feedback results with the organisation and explaining how changes are being made (where necessary) it will develop trust within the company.

Adapt best practices from the best companies in the world

Google is said to be one of the best employers in the world.

They rate the highest in providing employee satisfaction and many organizations all over the world ape Google HR policies to ensure employee experience.

Employee Experience is an amalgamation of many functions working together seamlessly to enhance the organizations over all functioning. Measuring it at regular intervals and ensuring it is something the top organizations of the world are always doing.

Conclusion

At a time when employees have more choices than ever and companies need to retain their talent, employee experience can’t be ignored.

It’s time to take a proper look at your offering and, where necessary, make changes that will have a positive impact on your employees. By making these changes, you’ll be creating an environment where people really want to come to work.

At Horton International, we understand how vital employee experience is to the success and growth of any company. This is why we offer a range of services, including management consultation, to help create a better and more productive workplace. At the point where many consultancies are already calling it a day, we’re just getting started with our efforts to support you, ensuring your success and helping you get your business to the top.

The post How To Provide The Very Best Experience To Employees first appeared on Horton International.

A recent online study carried out by the website Glassdoor on ‘Diversity + Inclusion’ took a closer look at this question on the international stage. Overall, 37 percent of the respondents from Germany, UK, France and the USA stated that they had already experienced or at least observed discrimination. Half of all employees in the countries surveyed believe that their company should do more to promote diversity. However, it is more likely to be the younger employees who see a change as necessary rather than many of their older colleagues.

Interestingly, around 10 percent fewer respondents in Germany agreed with this statement compared to their colleagues in other countries. However, this does not necessarily mean that diversity is particularly well implemented in Germany. In fact, the opposite is the case. In an international comparison, many German companies can hardly claim to be diverse: rather, they are homogeneously positioned. On the plus side, this means that there are fewer grounds that could lead to discrimination. But it has also become clear that many people feel that diversity is a matter for others rather than something they’d like to see within their own ranks. When it comes to themselves, people often prefer to work with colleagues who are as similar as possible to them. Therefore, it makes a difference here whether you’re choosing co-workers for yourself or for third parties.

While most of the participants associate diversity with creativity and innovation, they fear that working with people who have different views, speak a different language or have an unfamiliar cultural lifestyle could be rather difficult. And the more it affects the person themselves, the more pronounced these concerns become. For this reason, many employees prefer like-minded people in their own team rather than a diverse team player, someone who may create controversy by bringing in distinctly different views.

The diversity survey conducted by Hager Unternehmensberatung last year also showed comparable results. Many companies have already recognised the importance and the added value that diversity brings. However, very few of the participants surveyed have a fixed strategy that they follow. So although the knowledge has already reached most people it is often not actively put into practice in their own ranks. Diversity will only become normal when we no longer have to think about it and discuss it.

The post Diversity – one of the current ‘commandments’ of the hour. But… diversity in your own team? first appeared on Horton International.

While we’re all glad of a return to normal, keep in mind that this change can also be a trigger for stress and anxiety. According to Personnel Today, the unusual circumstances we find ourselves in can be triggering for almost anyone. Speaking to Dr Johnson from Sarum Occupational Health, the HR experts say, “People can often be anxious about returning to work at the best of times, whether after a time away for illness or even just coming back after a fortnight’s holiday away, he pointed out. So, given the length of time many people have been away from the physical office environment, this could well be amplified.”

The companies who make a habit of placing great importance on the mental health of their employees tend to be those who offer a wide range of benefits and perks designed to support each person both inside and outside of the workplace (such as offering access to private counselling and subsidised gym memberships to help fend off stress). It’s no coincidence that these firms tend to register less employee churn, record greater staff satisfaction levels and benefit from increased productivity.

If your business doesn’t yet have a firm mental health policy in place,  the prospect of entering a post-pandemic world affords you the perfect opportunity to redress this oversight. An easy way to begin is simply by talking and listening; Not only does investing in mental health and general wellbeing benefits lessen the amount of stress-related sick days taken by staff. Many businesses which have offered holistic wellness benefits such as access to online yoga classes have reported a significant reduction in remote working fatigue and higher productivity levels during the pandemic.

However, many employees are highly attuned to insincere attempts to look after their mental health with the end product being an increase in company profits. It’s worth consulting with staff on what they actually need and want to be happy, healthy and productive at work before putting in place new policies or procedures.

You’ll also need to accept that there’s no one-size-fits-all approach to support the mental wellbeing of your team. What works for one won’t work for another, so a varied and well thought out plan that has employee input and considers the needs of all is key.

The post Are You Making Mental Health A Priority? first appeared on Horton International.

The Rising Tide of Mental Health Concerns

The incidence of people with mental health concerns has been steadily increasing for years. Some of this is to do with improving reporting rates, but that is certainly not enough to explain away the increases found here in the UK. Recent research has shown that there is more than a coincidental link between depression and the cost of living. A survey carried out by the Office for National Statistics during September and October 2022 found that:

• Around 1 in 6 (16%) adults experienced moderate to severe depressive symptoms; this is similar to rates found in summer 2021 (17%), however higher than pre-pandemic levels (10%).

• When comparing within population groups, prevalence of moderate to severe depressive symptoms was higher among adults who were economically inactive because of long-term sickness (59%), unpaid carers for 35 or more hours a week (37%), disabled adults (35%), adults in the most deprived areas of England (25%), young adults aged 16 to 29 years (28%) and women (19%).

• Around 1 in 4 (24%) of those who reported difficulty paying their energy bills experienced moderate to severe depressive symptoms, which is nearly three times higher than those who found it easy to pay their energy bills (9%).

• Around 1 in 4 (27%) adults who reported difficulty in affording their rent or mortgage payments had moderate to severe depressive symptoms; this is around two times higher compared with those who reported that it was easy (15%)
• Nearly a third (32%) of those experiencing moderate to severe depressive symptoms reported that they had to borrow more money or use more credit than usual in the last month compared with a year ago; this is higher compared with around 1 in 6 (18%) of those with no or mild depressive symptoms.

Mental health issues are consistently more pronounced among women, young adults and those with preschool-aged children at home, with one in three women experiencing severe mental health concerns. Globally, two-thirds of women report extreme stress levels, highlighting an urgent need for intervention.

Mental health concerns are also increasingly affecting children. A 2023 survey of children and young people’s mental health found that 20% of children aged 8 to 16 had a probable mental disorder in 2023, up from 12% in 2017. Among those aged 17 to 19, 10% had a probable mental disorder in 2017, rising to 23% in 2023.

The Corporate Disconnect

Despite clear evidence of growing mental health issues, there is a notable disconnect in workplace priorities. Employees often rank improving wellbeing as a top priority, yet management frequently places it near the bottom of their agenda. Only 15% consider employee wellbeing a priority. HR managers are a little more on the ball, but only 20% believe it’s a priority.

If companies want to continue getting the most out of their employees while preventing burnout on a large scale, these attitudes need to change.

Changing Corporate Attitudes

In an interview with Horton International in the aftermath of the pandemic, Dr Santrupt Misra, shared his thoughts with us on corporate attitudes towards employee wellness.

He told us that there’s always been a normal distribution of approaches. Some are proactive and getting ahead in terms of employee wellness and others are doing very little and not caring. Then, of course, there’s a large number in the middle. Now there appears to be a shift. Both companies in the middle and the proactive group are doing more for employee wellness.

Dr Santrupt Misra described the growth in awareness, willingness to invest and willingness to experiment with new offerings and services. This change in attitude appears to be happening across the globe in all sorts of businesses. There is a trend of employees leading and companies providing support.

What Getting It Right Looks Like

Employee Assistance Programmes (EAPs)

These are not a new idea. In 2020, Gallup spoke to over 200 CHROs (Chief Human Resource Officers) from large organisations about their mental health and wellbeing approach. Four years on and organisations are increasingly recognising the importance of robust mental health programmes. Companies like Accenture have led the way with their own Employee Assistance Programmes (EAPs) focused on improving various aspects of employee wellbeing, including mental health. These programmes are complemented by initiatives to improve nutrition, hydration, digestion and sleep. Their extensive EAP programmes built around these pillars have given them a world-renowned culture of employee wellbeing.

Take The Pulse of Your Company

There is nothing more effective than asking your employees how they’re doing. Intermittent touchstone surveys were identified by the CHROs as an effective tool to identify teams where there may be wellbeing concerns. With this information, you can act before problems become unmanageable.

Train Your Managers

Managers are the first port of call for most employees who are struggling. This means that your managers can find themselves having a lot of difficult conversations. Instead of leaving them to deal with it alone, the CHROs advocate for upskilling. Train your managers on how to talk about mental health, how to do a mental health check-in, and allow them to brush up on their soft skills.

Strategies That Work

The right strategy for your company may look different from another’s. It’s crucial that whatever you do is designed to work for your employees and your managers. If you don’t get buy-in across the company, it doesn’t matter how amazing the idea is; it will fail. With that in mind, it’s important to have a toolkit of options at your disposal.

Starting from an organisational level will allow you to plan your work systems. You can embed wellbeing from the top down. This doesn’t mean it’s done as a dictate to workers, though. For instance, one effective option is to form teams around worker preferences and needs. Smoothly functioning teams can reduce a lot of day-to-day stress for everyone involved.

Embedding wellbeing into every aspect of your processes means that workers opting out or slipping through the cracks is less likely. You can add wellbeing and mental health criteria to standard agendas, performance reviews, and reward programmes.

Give your teams the freedom to choose the wellbeing practices that work for them. Offering choices is a good start, but try to be open to suggestions as well. An easy way to give your staff agency is to mandate micro-breaks. They can choose how to best use these. At a minimum, step away from their work for a moment and just breathe.

Conclusion: A Call to Action

Ultimately, focusing on mental health and wellbeing is not only the right thing to do; it’s also good business. Stressed and unhealthy workers are less productive and cost companies money. Whatever motivates you to improve health and wellbeing, it’s clear that organisations can’t ignore the situation any longer.

The post Making Mental Health And Wellbeing A Focus first appeared on Horton International.

• 44% of newly remote workers said their mental health had declined since the outbreak of the pandemic.
• 38 productive days are lost per employee due to absence.
• 48% feel isolated or lonely as a result of working from home
• End of year reviews can cause stress for employees and it’s essential to alleviate these concerns.

We recently looked into how COVID-19 has changed the way we work for the better, but end of year reviews are yet another aspect which are not going to be the same as they once were. You might be considering how to conduct an effective end of year review over Zoom, or how to accurately review productivity for teams that have been remote working. These are important aspects to consider, but we believe the primary focus should be elsewhere this year; how are your employees really doing on the inside?

Why Is Employee Wellbeing So Important In 2021? 

Employee wellbeing is more important than ever and focusing your end of year reviews on overall health and wellbeing makes perfect sense this year. The last two years were stressful not only due to the high levels of uncertainty, dismissals and the looming threat of the pandemic, but also because the social needs of employees were not being met. Team members are feeling less connected, there is an increased sense of loneliness and isolation and financial concerns have been weighing on employees’ minds during the pandemic.

Many workers around the world were suddenly forced to work from home, often times they were also juggling childcare and home schooling as well as their ‘day job’.  Chats in the corridor were a thing of the past, no social interactions or lunches with colleagues took place. We are social beings, and this has had a real negative impact on many people.

Globally, large numbers of employees are currently suffering with poor mental health. A survey from EY shared that 44% of newly remote workers said their mental health had declined since the outbreak of the pandemic.  It is no surprise that a team that is struggling with their mental and physical wellbeing will never be as productive and efficient as a team that is satisfied and well supported.

On average, each employee loses 38 productive days every year due to both absence and presenteeism, so anything that can be done to reduce this is going to be beneficial to both business and team members.

The Chartered Institute of Personnel Development (CIPD) revealed that supporting and promoting wellbeing among employees can result in a mutual benefit to businesses, people, economies and the wider society. While you might have a wellbeing programme in place, or various initiatives to promote healthy habits, such as organising non-work activities online, checking in on your colleagues and team more frequently or arranging virtual health classes, end of year reviews are an excellent way to reinforce the message that you are on hand and care about their wellbeing.

End of year reviews can be a stressful experience for employees even in years that have not been affected by a global pandemic. It is essential that management teams are mindful that end of year reviews could add more anxiety and stress to an already difficult year for employees.

How To Focus On Wellbeing During End Of Year Reviews 

The chances are, you have completed many end of year reviews over your career. Traditionally, the focus would be on performance, KPIs and achievements throughout the last 12 months. Switching that focus to your employees mental and physical wellbeing, whilst still looking to boost team performance, can be a struggle. Here are a few ways you can focus on wellbeing and create a supportive work environment during your end of year reviews;

Ditch The Fixed Mindset 

End of year reviews can often leave employees feeling that their performance is based on fixed abilities. It can feel like each individual has no power to make changes or improve with each review. This can leave your team feeling inferior, inadequate or like they have failed at their job. Adopting a growth mindset over a fixed mindset can help boost wellbeing and positivity among your team.

Emphasise that there are always tangible, concrete actions that can be taken in order for an employee to learn, grow and improve in their role. When you have a growth mindset, your end of year reviews become a stepping stone to helping employees reach their full potential. This can leave your team feeling inspired, motivated and ready to tackle the next year ahead, no matter what challenges it might bring.

Show Compassion 

It can be easy to go into an end of year review armed with numbers and figures about an employee’s performance over the last 12 months. You might already know what you want them to improve on going forward, or the areas they haven’t been doing so well in.

When you are focusing on their wellbeing, it is important that you approach the end of year review with compassion and empathy. Be understanding towards the struggles they might have faced this year and discuss what can be done to better support them in the future. Check in with your team about their mental and emotional wellbeing. Make sure they know that their mental health is a top priority, and that comes first over performance.

If your employees are struggling, show them some leniency and flexibility. This year has been tough for everyone, with many employees juggling working from home alongside caring for family, or battling the loneliness of quarantines and lockdown.

Remove Competitive Culture 

Some companies like to use numerical rankings and comparisons to other employees during end of year reviews. These rigid ranking systems can leave individuals feeling undermined and disregarded and result in them being less likely to respond to any feedback you might give.

Numerical rankings within teams can pit workers up against each other and create a competitive culture in the workplace. For the sake of both wellbeing and productivity, it is better to have a focus on team collaboration rather than competition. Keep end of year reviews solely about each individual employee, as opposed to comparing them to the rest of the team.

Check In Regularly 

After end of year reviews are over, it can be easy to just slip back into old habits and return to business as usual. One of the best ways to boost wellbeing among employees is to check in regularly. Keep lines of communication open between yourself and your teams.

Don’t wait for the next performance review to come around to let employees know if they are meeting expectations or have areas where they can improve. Be sure to have regular conversations with your team about the challenges they are facing and what you could do to help support them. Take time to truly understand your employees’ needs and respond to their struggles.  

This could be the perfect time to reimagine your end of year reviews to focus on the issues that need addressing that not only help your employees to thrive, but to help your business to show that it really does prioritise your most important asset.

The post Why End Of Year Reviews Should Focus On Employee Wellbeing first appeared on Horton International.

Switching off was made easier when more of us were ensconced in the traditional office environment as the annual Christmas shutdown allowed for some much-needed family time. However, in 2020 and 2021, the lines between home and work have been blurred for many. Homeworking and hybrid offices have become commonplace, making us more accessible to our workplace. Likewise, checking in with work from home is far easier and now more routine than ever before.

Getting time away this festive season is more challenging than usual, but it’s still essential for you and your team’s happiness both professionally and personally. If you need some inspiration for ways to switch off, we’ve put together this list to help get you started:

1.     Plan before the holidays

If you plan on taking a well-earned break over the festive season, make a list of tasks that must be completed, prioritise the important ones and leave the rest for when you return. Of course, you might have to say no or push back on deadlines, but having a priority list can help you focus and give clear, concise reasons why you cannot meet someone else’s demands.

2.     Don’t forget the Christmas wind down.

When we work in an office, the signs that Christmas is nearly upon us are clear. There’s more relaxed work wear, chocolates, long festive lunches and the annual staff party. It’s very easy to forget this when you are working at home. It’s impossible to recreate this environment fully, but you could carry out actions that mark the end of each workday to prevent yourself from working longer hours. For example, pack away your laptop and any other equipment until the next working day or take a festive lunch or small celebration with your household instead.

3.     Schedule time to relax

If you struggle to pull yourself away from work, put it in the diary, set alarms and take that time out Take a break, go for a walk, catch up with a friend. Don’t ignore or feel guilty about the time that you have set aside for yourself.

4.     Use your out of office

One thing that sends a strong message that you are not reachable during the holidays is a clear-out of office automatic email reply. Let people know you are taking a well-earned break. If necessary, leave contact details where someone can be reached in an emergency. Do not reply to emails over the holidays, as once you open your inbox, it’s hard to go back and relax. If you absolutely must check in, schedule some time and stick to it before going back and relaxing. Before you email others also consider the potential effect and pressure it puts on them. While it may seem harmless to forward an email with the best of intentions during this period, it may put unintended and unnecessary pressure on that colleague to respond or work during their holiday.

Whatever you do this festive season, take some time to recuperate and relax and spend time with family and friends. By taking care of your own well being, you will be able to return to work refreshed and be more productive and efficient as a result.

The post The importance of switching off first appeared on Horton International.

And this isn’t a ‘them’ problem. It’s an ‘us’ problem.

If your employees are struggling, your business will struggle, too. In fact, reports show that one quarter of employees believe that their financial concerns impact their ability to carry out their work responsibilities. Operating a successful, productive business means supporting workers through this difficult time.

Supporting Employees

Of course, the obvious solution is to increase salaries in line with inflation. But that really isn’t a feasible solution for most businesses. During this challenging period of recovery following the COVID-19 health crisis, few organisations have the financial stability and confidence that’s needed to provide cost of living rises.

However, that doesn’t mean there aren’t things you can do to help.

Beneficial ways to support employees at this time may include:

●      Flexible working policies: Offering employees the opportunity to work remotely – for at least one day per week – can help to minimise the cost of commuting, whether that’s using the car less, or reducing public transport.

●      Salary sacrifice schemes: These schemes typically cost businesses very little, yet they could offer significant savings for employees, who may be able to use their pre-tax salary to pay for essentials such as transport or childcare.

●      Financial support: Businesses may wish to explore options for financial wellbeing support, providing employees with access to tools and resources that help them to manage their money better and plan for the future.

●      Knowledge base: Consider launching an internal knowledge base, providing information on any cost-saving methods such as claiming tax-free allowances for remote working. Employees can also share any offers they’ve heard of.

●      Wellbeing support: Ensure that your employees know that they are able to talk to someone – yourself or a trusted colleague – in a safe and secure environment about any issue that they feel is impacting their working life.

●      Leadership: Perhaps the most important way that leaders can support their employees is to lead with empathy. It’s important to remember that we are all in this together. The more we understand and help each other, the better.

Developing a Support Strategy

As a business leader, one of the most important things that you can do right now is to understand that every employee is being affected differently by the cost of living crisis. And so, there’s no magical formula. There’s no one single way to help out.

A good idea is to provide your employees with anonymous surveys, asking what sort of measures could be implemented to support them at this difficult time. Their answers can help you to develop a support strategy that best fits the needs of your workforce, and can help to ensure you’re providing the best possible assistance.

The post How Businesses Can Support Their Staff Through the Cost of Living Crisis first appeared on Horton International.

More than 500 million people around the globe have tested positive for COVID-19 since the start of the pandemic. Fortunately, for many the virus is a mild disease, and symptoms typically begin to ease between a few days and 4 weeks after infection.

However, for some, the effects of COVID-19 can last much longer. It’s known as ‘long COVID’, and it’s believed that 100 million people have suffered with it so far.

How Long COVID Could be Affecting Your Workforce

With long COVID, sufferers can experience the same symptoms of the disease for extended periods of time. Fatigue is reported as a main symptom by more than 50% of long COVID patients, while brain fog and difficulty concentrating is also common.

But there are many other ways that long COVID could impact your workforce. It has been reported that many sufferers have difficulty sleeping, which can affect both performance and mood in the office. Others notice increased anxiety, which may impact their ability to communicate. Some experience severe joint aches, nausea, and mobility problems, which could make it challenging to leave the home.

You worked hard to build a strong team of powerful people. But the truth is that, if those people aren’t being supported in a way that helps them perform their best, you’re failing to get the full value out of your carefully planned, strategic hires.

Supporting Your Team

The symptoms and severity of COVID-19 differ from person to person. Some are completely asymptomatic, while others require hospital care. It’s exactly the same when it comes to long COVID. Everyone will experience it in a different way.

That means that leaders can’t simply implement the support measures that they think will be effective. Instead, they need to be working to encourage more open communication, and asking their employees what they need to help them.

For example, employees experiencing sleep disturbances could benefit from more flexible working hours that enable them to carry out their tasks at a time when they feel most alert. Employees experiencing pain or nausea may benefit from the introduction of remote working policies that give them the option to work from a more comfortable environment. Those experiencing anxiety may benefit from opportunities to talk with colleagues in an informal, safe setting within the workplace.

It’s clear that there is no one, single way to support employees through long COVID. What is most important is to work to create an inclusive environment that acknowledges the varying needs of workers at the difficult time and helps team members to carry out their tasks in a way that promotes their health and wellbeing.

The post Long COVID: How Leaders Can Support Teams Through Challenges first appeared on Horton International.

In 2021 an Opinium study found that a third of women are hiding the fact that they’re going through menopause at work. The countries surveyed included Spain, Italy, Germany, the UK and South Africa. 33% of respondents said that they had hidden symptoms at work, and half of the people surveyed said they felt there was still a stigma attached to going through menopause.

Many of the respondents interviewed said they felt embarrassed or that there simply wasn’t enough support from their employer, so it was easier not to say anything. Of the British respondents, 43% said they’d feel too embarrassed to ask for support at work.

Why does having an employee going through menopause matter? Despite being a natural part of the ageing process and something that most women experience, it’s no less challenging to deal with the many symptoms. The NHS describes the most common symptoms as hot flushes, anxiety, difficulty sleeping, low mood and problems with memory and concentration.

All of these things can make it difficult and sometimes impossible for a woman experiencing menopause to do her job to her usual high standard. Understanding how the symptoms can make a standard workday challenging shows why having an employee menopause support policy is vital.

Thankfully, after decades of women feeling embarrassed and unsupported, attitudes towards people going through menopause are starting to change.

Leading The Way With Menopause Support

In 2021 five major corporations in the UK announced an employee menopause support policy. Vodafone announced its support on International Women’s Day and pledged to roll the policy out to all of its offices across Europe and Africa.

Drinks company Diageo, responsible for household names like Baileys and Smirnoff, announced their new guidelines for “Thriving Through Menopause”, which included offering employees counselling and mindfulness sessions and increased flexibility in work hours and sick leave.

Aviva, Santander and Channel 4 also implemented similar policies, although Channel 4 conducted an additional review around support for issues that women face and included support for menopause and pregnancy loss.

While for the people affected by menopause symptoms, the new regulations have been a long time coming. However, it appears that the UK is actually ahead of the curve.

Menopause Support In The United States

In a report, women’s lifestyle publication In Style looked at the support for women going through the menopause across the pond after ASOS made headlines for their gender-neutral policy that covered all “major life events” such as menopause, abortion and gender reassignment surgery. The UK based company was praised for introducing the new rules in all of its locations, including America, but it also highlighted the poor support that women in the US face.

According to InStyle’s report, approximately 1.3 million people enter menopause in the US every year.

A 2014 study conducted on American women by Pfizer found that almost half of women who had experienced menopause said that it made their work lives more difficult. The study also found that one in 10 women had been overlooked for a more demanding position due to experiencing symptoms of menopause which resulted in the perception that they weren’t working as hard.

Large multinational corporations with offices in the UK have rolled out their British menopause policies to all territories. This means that any international employees of Diageo, Vodafone, Santander, or ASOS (to name a few) also benefit from more flexibility to cope with such a challenging, natural part of life.

However, the norm in US workplace culture is still in favour of not offering any support for those experiencing menopause or any kind of big life events other than maternity leave, for that matter.

European Menopause Support Falls Behind

Despite extensive research, no menopause support policies could be found for any companies based in mainland Europe other than those that are headquartered in the UK with offices in other European territories.

Not having a menopause support policy is a huge oversight. Companies that have implemented such policies are praised for being so thoughtful when it should be standard in every corporation’s HR practices.

Implementing A Menopause Support Policy

Loss of productivity due to menopause symptoms is thought to cost businesses up to $150 billion every year – although, of course, you need to take that number with a pinch of salt because many employees wouldn’t openly admit to experiencing menopause.

Multiple studies have indicated that menopause symptoms can lower someone’s ability to function normally at work. These same studies have proved a loss in productivity, increased sick days, reduced quality of work and, as such, costs businesses billions of dollars.

One study found that one in eight women had left work due to severe menopause symptoms, and in careers industries like nursing, where the workforce is predominately female, this is causing huge issues.

With such overwhelming evidence, why are companies still choosing to ignore the desperate need for menopause support? The short answer is tradition – many policies haven’t been updated for years because it’s too far down of priorities.

However, now multiple studies have laid out the costs to businesses in both loss of workforce and decreased productivity, organisations are now seeing a more pressing need to adopt this into their strategies. For organisations focusing on a people-led approach, adopting a menopause support policy is becoming a matter of urgency.

The post Menopause Support – What Is Being Done To Help Women Around The World? first appeared on Horton International.

The first step in identifying and mitigating staff burnout is understanding exactly what it is:

“Job burnout is a special type of work-related stress — a state of physical or emotional exhaustion that also involves a sense of reduced accomplishment and loss of personal identity.” – Mayo Clinic

Burnout not only impacts the mental wellbeing of your staff but can also impact the productivity of your business. There is a clear ethical responsibility for businesses to identify and deal with staff burnout, but it also makes good business sense to ensure that your staff are not suffering from burnout to increase the likelihood that they are in an optimal state of productivity.

Common Reasons for Burnout

Excessive stress is the core reason why your staff may be experiencing burnout. This could be for several reasons, many of which are within the professional space. However, burnout can also occur when external factors impact an employee’s ability to do their usual work.

Common reasons for burnout include:

●      Lack of professional direction – such as a lack of clear professional progression

●      Lack of clear expectations – such as not knowing what success looks like within their role

●      Not enough resources – such as having a large workload and not enough resources to deal with it

●      Lack of knowledge or skills – such as feeling like they don’t have the skills they need to complete their role and feeling like insufficient training is provided to help them upskill

●      Poor work/life balance – such as spending too much time working and not enough time enjoying life outside of work

●      External global factors – such as pandemics, wars and other emotionally stressful world events

●      External personal factors – such as challenges with family matters

Identifying Staff Burnout

Burnout can display itself in many different ways. Some people will actually be able to hide many of the signs of burnout, which means you need to be vigilant when looking for those who are suffering from this type of stress. Some signs to look out for include:

●      Exhaustion – always looking tired

●      Isolation – choosing to work and be alone during the working day

●      Heightened sensitivity – not taking feedback well

●      Lower productivity – productivity consistently dipping below normal rates

●      Absenteeism – often calling into work sick

●      Shortened temper – getting angry or frustrated with things more easily than usual

●      Disengagement – from work and coworkers

●      Negativity – failing to see the positive side of situations.

Ultimately, the above will act as indicators that a staff member may be experiencing burnout. It is down to those responsible for staff wellbeing to identify these signs and have conversations with those exhibiting them to understand better why they may be occurring.

How to Help

How you deal with staff burnout will depend on several factors ranging from the source of the stress to the unique personality of the person suffering from it. Here are some common ways that employers can tackle burnout:

●      Facilitate more time away from work

●      Offer more resources to help tackle workload

●      Provide staff with access to private, independent counselling

●      Give regular feedback on staff work, including thanks and praise where it is due

●      Setting clear career progression for all staff and sticking to career promises

●      Providing training to help upskill staff

Staff Burnout: Summary

Staff burnout can impact both employees and businesses negatively. It is within the best interest of everyone to find ways to identify and limit the potential for burnout.

Smart businesses will train their staff to recognise burnout in themselves and others to ensure that it is caught and remedied as quickly as possible. The information we have included in this article is a perfect starting place for educating yourself and others on how to do this.

The post Staff Burnout: Identify, Mitigate, Assist first appeared on Horton International.

The Stressful Demands On CEOs 

A study showed that 49% of CEOs report struggling from a mental health condition and the majority of CEOs say that they are feeling overworked, struggling with fatigue and suffering from continual stress. CEOs feel responsible for the reputation and mood of the whole organisation, which can feel overwhelming. This is coupled with the feeling that they have to present themselves as strong, capable, in charge and in control.

Research also suggests that mental health issues are more prevalent in CEOs. This is often because of the particular character traits and psychological attributes that make for great leaders. Attributes such as being excellent multi-taskers and forward-thing planners, who always prepare for worst-case scenarios. CEOs are also usually hyper-vigilant for ensuring high-quality at all times. All of this take their toll on anxiety levels and even impact the quality of sleep.

Another issue which is often not considered is the loneliness that CEOs can face. The age-old phrase of ‘it’s tough at the top’ will ring true for many leaders. At CEO-level, it can be hard to find someone to talk to or share the burden with. However, like many aspects of the organisation, self-care and prioritising mental health is a leadership issue and must start at the top.

Leading With Vulnerability 

In the case of many CEOs, there is a pressure to feel strong and capable at all times and not to show employees any sign of weakness. This typically comes with a ‘lead by example’ attitude to maintain a high energy focus throughout the team. However, showing weakness and being vulnerable can be an incredible leadership skill to possess.

Instead of seeing vulnerability as a sign of weakness, it is actually a sign of strength and a powerful aspect of your emotional intelligence. It can help you to form deeper connections and allows you to address your emotional state for how it is now. This can prevent old wounds from coming to light at a later date.

One of the significant benefits of allowing yourself to be vulnerable is the freedom this provides, which can make way for creativity and innovation. So often, when we protect ourselves with strong defences and a fear of making mistakes, we limit creativity and do not take the risks that could be a huge success, or, at worse, a good lesson to learn.

By allowing yourself to make mistakes, take risks and be ready for all of the consequences is an admirable leadership strength. Being able to admit that you don’t have all the answers or that you made a mistake allows you to learn. This, in turn, creates a culture of learning and growth throughout the organisation, where people do feel comfortable to share ideas (even if they’re not perfect) and are able to develop solutions together.

How CEOs Can Lead With Vulnerability 

1.     Listen to every perspective

As CEOs, it is important to check the ego and ensure that the ego isn’t getting in the way of your decision making. It can be hard to admit that you don’t know what to do or do not have the answer to a particular work problem. However, when you open this up and recognise this vulnerability, you can begin to engage with all of the perspectives you have in your network.

2.     Create a space for conversations

By asking for help and asking your team members if you can help them, you can form connections and create a safe space for difficult conversations. This can be incredibly beneficial for crises in the workplace, recovery from loss, and to help people bounce back from mistakes.

Creating this space and getting comfortable with sharing can build workplace loyalty and can allow you to form deeper connections with your team. With this, you create a space where people feel comfortable in bringing their whole selves to work.

How To Support CEO Wellbeing

Normalise Mental Health Awareness

A key component of improving the mental health of CEOs is creating an environment where CEOs can talk openly about their mental health and any struggles they are facing. By recognising and acknowledging the issue, it makes it easier for others to open up, share their experiences and feel supported.

Provide Mental Health First Aid

Mental health first aid training in your organisation can help individuals to ensure it is possible for people who need support to get help. Having a mental health first aider in your team mean they will be able to provide immediate help, spot the early signs of mental health problems and ensure the first aider feels confident in their ability to help someone and guide them to the right support.

By prioritising mental health first aid in the organisation, it is possible to reduce the stigma surrounding mental health problems.

Develop A Nurturing Culture

Throughout the organisation, there should be training on how employees and leaders can self-manage their situations and what self-care looks like. It is important to not only highlight the individual benefits of self-care but the benefits it can offer the business. The biggest asset of every organisation is its workforce, so prioritising their self-care and wellbeing, at every level throughout the business structure, becomes vital.

Offer Support Mechanisms

From onboarding, CEOs and leaders should have access to appropriate support. This may be a coach, mentor or another third-party support system. It may be that a CEO has access to a specific go-to board member of the organisation with regular one-to-ones.

As well as this, professional options of mental health support such as psychotherapists should be considered and available as necessary.

The post Is There Mental Health Support For Your CEOs? first appeared on Horton International.

The rest of us might also be feeling the pinch, but business goes on. I recall client meetings in the 1997 SE Asian financial crisis: “I have ten people, now I see that only four are any good. I need to retrench six and hire two more; can you help?” Well, yes we can.

This enforced lull in business activity may be an excellent time to properly assess your assets – in all classes. Take a cold-eyed look at what you’re working with and think, is this the best that I can do? You will need to move quickly though – just as in good times, talent doesn’t wait around for long.

The post Keep Calm and Recruit first appeared on Horton International.

Businesses that are yet to implement remote working may no longer have that option and must now allow their employees to work from home. Implementing such a policy can be a significant challenge. We will look at some of the things businesses can do to ensure they are ready; see what lessons we can learn from China about remote working, and review the status of some of the flagship tools designed to keep teams connected.

How can businesses prepare for Covid-19 lockdown?

While the trajectory of the Coronavirus is as yet unknown, in many countries up to 70% of the population could contract Covid-19 and, for an extended period, around 20% of the workforce will be in isolation and unable to travel to work. If you don’t already have a plan for dealing with this, then assembling one should be a top priority as time is short. Some critical decisions must be made, for instance:

• Which roles are crucial to operations?
• What tasks can be carried out remotely?
• What are the security implications of remote working?
• How can we ensure data protection and other regulations are not breached?
• Should we set up a VPN for confidential data?
• What hardware is needed, including phones, printers and other office tools?
• What software and tools do we need to keep teams connected?
• How do we monitor the performance of remote workers?
• How do we ensure that all remote workers have all the necessary information, understand their roles, and can reach out should they encounter difficulties?
• How will teams communicate and hold meetings?
• How will they communicate with customers and clients?

Where employees are unfamiliar with the necessary tools and protocols, essential training will be required. Strong leadership at all levels is called for, and it is crucial to maintain high levels of motivation throughout the crisis.

Lessons we might learn from China

In China, Covid-19 has already forced tens of millions of employees to work remotely, usually from the family home. As we report later, the immediate impact was a massively increased demand for videoconferencing apps.

Chinese workers report varied experiences. While some find the home environment too distracting and others complain of intrusive bosses who don’t trust their employees to work from home, many of the new band of home workers report improved productivity and job satisfaction. Homeworking is particularly beneficial to workers who previously had a long commute and can now use that time for their own as well as their company’s benefit.

At offices where people used to clock in and out, the day now starts with checking in to a talk group app and updating daily work reports. Bosses have to adapt the way they monitor their staff. Many managers report that they now have much less control, that administration is more complicated, and that they are concerned about employees slacking off from work to attend to personal tasks.  Where weekly meetings were the norm, working from home has resulted in daily meetings with employees reporting each day what they have achieved and what they plan to do tomorrow. Unsurprisingly, many workers say that this reduces their efficiency considerably.

Work-from-home tools and software

Worldwide, the demand for video and chat software that can help businesses in their quest to continue as usual is booming, and high tech businesses are cooperating fully. Google, Microsoft, Slack and Zoom are now providing their software free of charge and are increasing their capacity to service the snowballing demand from users. Some offers on the table include:

• Microsoft Teams Premium Edition is now free for six months.
• Microsoft Teams Limited Edition has had its usage limits removed.
• Google Enterprise videoconferencing features are now available free to existing G Suite customers.
• Slack is providing free online training on best practices for remote working.

In China, there has been a five times increase in conference calls and virtual meetings since the end of January. In the US where several big tech companies including Microsoft and Twitter have instructed their employees to work from home, there has also been a substantial increase. The Microsoft Teams platform usage increased 50% with video and audio meetings up by a third, and there were similar increases in the use of Zoom software. In Italy, there has been a massive increase in the download volume of business apps. Google Hangouts Meet is now Italy’s most downloaded app in all categories.

There are many other team-oriented apps designed for remote working and appropriate for different kinds of business. You are probably aware of the best ones that cater to the way you work. If not, now is the time to find out.

Will remote working break broadband services?

There have been various reports in the press and online that increased remote working will break  ISP broadband services. However, many homeworking tasks such as sending emails, updating databases, online messaging, and report writing make only a small impact on broadband networks and are possible on even slow home broadband links. Zoom, Microsoft Teams and Slack report that there have been no issues. Both major and minor ISPs claim that their networks can handle the increased payload without difficulty and that the UK Broadband network is capable of handling mass scale home working.

However, video conferencing, graphic design and 4K and 8K video processing could overburden some broadband links. Often these problems are solvable with a simple broadband upgrade where improved services are available; however, some areas with inadequate broadband coverage are likely to suffer.

Finally

The coming months will be challenging for business. Many are already issuing profit warnings. According to Goldman Sachs, earnings growth will probably grind to a halt.  Ultimately, recovery might be quick, or, in the worst case, the pandemic could trigger a recession. To help weather the storm, businesses should use what time they have to prepare themselves and their employees and, where possible, implement a remote working policy. There is an abundance of tools to help you do so. A stitch in time saves nine, so don’t delay.

The post Remote working and the impact of the Coronavirus on business. first appeared on Horton International.

The whole situation feels like a war without any visible enemy.

Nonetheless, most companies are doing their best to cope with the difficult situation. Supplying customers, patching up unreliable supply chains, maintaining operations – as well as they can.

Some sectors – such as tourism and gastronomy – are inevitably suffering massive declines. But the many other sectors should not let the virus completely determine their economic activities. Of course, priority must be given to compliance with health protection measures. But unwanted forced breaks in daily business also provide an unprecedented opportunity to invest in training employees or in the development of new strategies. It’s true, no one knows exactly how long this virus will continue to affect our lives. No one can reliably forecast the expected sales losses. But one thing is certain; life will carry on – economic life too – after corona. With that in mind, in addition to being fully committed to the immediate protection of the people’s health, it is important that companies keep things in perspective. That they question the business models they have grown fond of. That they finally get to grips with implementing or finalising digitisation.

There is no doubt that business leaders of all sizes of companies – including SMEs – must do one thing first: ensure their entrepreneurial survival. This includes acquiring any necessary state subsidies, renegotiating loans or sending employees on premature vacation or even short-time work. But medium- and long-term planning requires thinking in 6–12 monthly cycles. Is that absurd? No, it may be unusual to think like this, but it is a sensible way to look ahead – even after this phase is over. Sometimes personal, economic or, as now, global crises are an immense threat; but they can also be an opportunity for reorientation. In this difficult situation, one that entails drastic constraints for everyone, every single one of us should also keep an eye on planning.

If everyone just sits back and waits until this is all over or merely buries their head in the sand, it will mean their economic demise. It’s time to buck up and look ahead!

The post Don’t shut down – just lock down! first appeared on Horton International.

Despite the technical possibilities, many companies still stick to old work structures and the classic model of the 9-to-5 job. At the end of 2018, in a survey of 800 managing directors and HR managers by the digital association Bitkom, four out of ten employers (39 percent) said they would allow their employees to work outside the offices. This is a step forward compared to 2014 – when it was just one fifth of all companies surveyed. Nevertheless, the majority of companies are reluctant to accept workers’ desire for more flexibility. There are also differences between individual sectors: the trend towards flexible working time models is much more widespread in the digital sector than, for example, in logistics or industry.

The current Corona crisis could lead to a final break-up of rigid structures, as the companies that have the opportunity to send their employees to the home office – more or less voluntarily – to protect their health. In addition, the closure of schools and daycare centres in Germany poses major challenges for many working parents. Grandparents, who usually help out in such a case, are not an option as they belong to the at-risk group and their health should be particularly protected. So what to do if no one can take care of the offspring? For most of them, the only thing they can do is to find some way to combine work and childcare.

More flexible work structures still an option in the future?

Politicians have therefore already appealed to employers and asked for their leniency in view of the drastic situation. It is important to find a common solution without losing wages. For example, by allowing parents to work from home or, if possible, to make their working hours more flexible. Whether it’s parents alternating with childcare and work on a daily basis, and distributing their hours over the rest of the days or working in “shifts,” so that some are available during the first half of the day and the other the rest of the time. Although many companies offer their employees flexitime anyway, there is usually a core working time that limits the time margin. This must be avoided in the current situation, so that work can also be done at marginal times.

What is a measure of necessity at the moment could perhaps become a real alternative in the future once we have become accustomed to it. Many companies have so far been concerned that productivity and effectiveness could suffer from so much flexibility. At the same time, it is a renunciation of control and requires the full confidence of employers in their employees that they continue to perform the same performance and deliver the required results. However, this is precisely what companies are forced to do in the current situation. And once they have addressed it, they may find that this could be a real option even after the crisis has been overcome. Even in industries where this has not been considered so far.

This article is part of the “Game Changer Corona Crisis” series.

The post New working time models; from necessity to real alternative first appeared on Horton International.

It is important to learn from this crisis and to look forward to the business – but still not to forget the concerns within the company.

How are my team colleagues doing? Does communication work from management to employees? Are they aware of how their areas of responsibility may have changed?

Home office in days of Corona can also be stressful for many, some even consider the unwanted stay in their own home as a prison. In addition to working in the home environment, there are few escape points that can be found to compensate.

After the last laptops have been set up and handed over for the employees, the network connection is established, a video conference is established, the employees should also be contacted regularly.

What was it like in the ‘normal’ office routine? Regular meetings, in a team or face-to-face, this can also be maintained in the digitized world of work.

The usual rituals should be maintained right now, so that no state of suspense arises that unsettles the employees. Forecast on Friday, Jour-Fix on Monday morning, Team Meeting Wednesday lunchtime – the normal weekly calendar helps maintain the work structure in the home office. What should not be forgotten are clear meeting rules, especially in large phone sessions with six, eight or more participants. Set up an agenda, observe speaking times, ask each employee for his or her opinion (and explicitly) because of the lack of physical contact.

How does a company deal with this when even the specialists not working to capacity? What goals should be achieved in the changed situation? Are there online training offers that employees can take advantage of as further training measures in order to be able to move forward after the crisis, strengthened and with new knowledge?

Are there any remaining vacation days or overtime saved in the account that team members can now use up? Here, too, communication is important. Employees who are made aware of the company’s extremely difficult situation are usually prepared to make many compromises and take solidarity actions, as they usually want to support the company. Even without the offer of cheap all-inclusive flights to popular holiday regions, many employees are willing to take advantage of the time. For family outings, for a really thick book, for the garden or forest walks. Deceleration is de facto the magic word that helps employees with time (and little work) to rediscover themselves or the family and gather strength for the time after Corona.

Conclusion:

Home office does not mean structureless work. Employees should be spared a similar feeling of floating: regular meetings, rituals and also targets are important, so that the ‘engine’ remains in motion and does not come to a standstill. Less stress in the home office must not lead to the employee becoming inefficient because he does not have a ‘controller’. Working in a home environment has a lot to do with trust – in both directions. However, if there is in fact no work involved, the company should talk openly with its employees as to whether larger periods of time are also used privately. Often such phases of calm are good for the employees … and later also for the company.

This article is part of the “Game Changer Corona Crisis” series.

The post All arrived at the home office? first appeared on Horton International.

Microsoft reports a rapid increase in the number of users on its own blog. Twelve million new Team users in just one week, bringing Microsoft Teams to over 44 million active users worldwide (as of March 19). The reason is obvious: Because of the current Corona pandemic, many companies send their employees to the home office. In order to be able to continue to work together despite the elimination of personal communication, programs and apps that enable group chats and video conferencing are currently in high demand. The figures released by Microsoft show how strong: In just one week, a total of more than 900 million minutes of meetings and conversations in teams came together every day.

Microsoft’s corporate vice president and author of the blog post, Jared Spataro: “It is obvious that it is now more important than ever to enable teleworking, and that this will continue to have lasting added value beyond the outbreak of the COVID-19 virus.”

In the crisis, it is always to be seen that the simple things, such as videoconferencing or the establishment of mobile remote workplaces in order to be able to work independently of location and time, are a prerequisite in the digitising world. In order to be able to offer such alternative possibilities in the future, the IT infrastructure must be equipped accordingly. Working outside the offices requires that servers, networks, devices, or other IT components be accessible from anywhere to enable all activities.

This development will particularly benefit those who specialise in providing companies and individual jobs remotely. Basically, it’s all about mobile devices such as laptops, tablets or smartphones. Especially in companies where the home office has been the exception until now, the majority of employees still have a permanently installed computer workstation. Now that the home office has become the norm, this means a complete conversion or a costly purchase of a second set for the home office as well as possible adapters.

But the digitisation process encompasses much more than corresponding hardware. Although almost all households now have a working Internet connection, additional network components may be needed. Connectivity in the home office must also be ensured. This is where video conferencing tools, for example, come into play. In the current Corona crisis, some providers have recognized the chance to attract new users and make their programs available free of charge for a limited period of time.

Another important point is cloud computing. In order for employees to access company data outside the office and work with colleagues, it must be accessible via the Internet. As a result, demand for cloud solutions and services has also risen sharply. Due to the current trend towards the home office, providers in the cloud business such as Amazon will emerge as potential profiteers from the Corona crisis, according to the market research institute Blueshift-Research.

Not to mention the establishment of additional security measures for remote access to enterprise systems and data, as the potential attack surface for cybercriminals grows. “In addition to an increase in home office activity, we have also found that cybercriminals have tried to take advantage of the excitement surrounding the virus by hiding malicious files in documents with a predetermined connection to Corona,” the statement said. Kaspersky security researcher David Emm in a blog post.

The current situation forces all companies that have not yet dealt with the issue of digitalisation to follow suit as quickly as possible in order not to lose their connection to competition or even to lose their economic footing. Here, the Corona crisis is likely to lead to a further boost around digitalization.

This article is part of the “Game Changer Corona Crisis” series.

The post Global pandemic gives digitalisation a boost first appeared on Horton International.

Of course, the COVID-19 outbreak has not only forced working from home where possible, but it has also posed a huge number of other obstacles for businesses, leaders and workers to navigate.

From adjusting to the role of parent-teacher while working from home to doubling up as a volunteer, carer and supporting your community while managing work; there are lots of ways that lives have been affected by the Coronavirus. This doesn’t even take into account those who are ill from the virus as well as working issues such as network outages and supply, hardware requirements, and having the sufficient tools and resources to work.

Obviously, all of the aspects need to be considered with care and thought. But, for teams that are safe and able to work from home, how can you demonstrate effective leadership when you have to lead in lockdown?

Here are some of the top tips for showing support to your team while still being an effective leader for your business.

Create A Common Vision

In these uncertain times, it can be hard to find purpose in what we do. However, as a leader, it is your role to map out this vision for your team. A clear, shared vision that all of your team agrees can be incredibly motivating. It helps to give everyone in your team a sense of purpose and allows them to find focus and clarity in their work.

This vision can also be fantastic for encouraging innovation, creativity and discovering new ways of working that can help to achieve these business objectives. What’s more, by sharing the vision, you’re giving your team the power to change their approach while allowing them to make constructive suggestions for the benefit of the business.

All of this ultimately helps to keep people’s spirits up while ensuring their attention is focused on positive business results.

Focus On Outcomes

Many businesses are reluctant to let staff work from home as they worry productivity will fall. In fact, studies suggest that working from home actually boosts productivity. A Stanford University study found that working from home resulted in a 13% increase in performance.

With this in mind, instilling trust in your team is essential for productive and effective working from home. If you give your staff a list of tasks or activities for the day, staff may be inclined to complete these as quickly as possible – with little thought or attention to what they are doing and why.

Instead, if you focus on the outcomes you want to see, you’ll enjoy better results and performance. Setting your intentions with clear objectives such as a quality standard to adhere to, a specific deadline to meet and a positive result, you don’t need to concern yourself with the employee’s process.

With people under a great deal of stress from the COVID-19 outbreak, now is not the time for micro-management. Instead, set clear goals, but give your team the creativity and flexibility to work how they need to work. As long as the work creates the outcomes you want to achieve, it doesn’t matter how or when your team complete their work.

Check-In But Don’t Check-Up

It is a fine line between being there to support your team and bothering them with persistent communication. It is important to check-in with your team to make sure they’re happy and healthy. But, it is unlikely you’ll need to continually chase for work or to check-in to ensure everyone is working. This wastes your time and theirs.

On the other hand, you may be struggling with constant communication from your team members when you’re trying to work. It can be hard to be available to your team every minute of the day. So, instead, set up drop-in sessions. These virtual drop-ins can allow your team to catch up with you and get the answers they need while also allowing you to carve out time for focus and concentration, without interruption.

It can also help to have a team video-call at a set point in the day. During this, they can fill you in on their progress, as well as allowing your team to stay connected. A video conference needn’t be long, but it can be a welcome opportunity for your team members to connect with each other and enjoy the company of people outside of their home – which can be essential for their wellbeing.

Force Breaks

Working from home can improve productivity, but it can also lead employees to struggle to switch off. Furthermore, house confinement can lead to fewer breaks and less exercise. Breaks and regular exercise are essential for employee health, wellbeing and productivity. Even when you’re all working from home, you can encourage breaks, walks and time-out.

The outbreak and lockdown have affected almost everyone on an emotional level and can severely impact our mental health. This is why it is now more important than ever to look at the ways you can improve employee welfare and wellbeing.

It may be as simple as telling everyone to take 15-minutes to make a drink before the next virtual meeting. You can schedule team walks – even if everyone is walking alone. You could even set fun photo challenges where everyone has to take a photo of something, whether that’s some form of nature or something that made them smile that day. You could also take on one of the many home-exercise challenges that are going viral on social media.

Be Understanding

Everyone will have a unique set of circumstances to deal with when it comes to lockdown. Some will be parent-teachers, some will be carers, others will have other issues to consider. At this time, while the lockdown is still so new, it is well worth loosening the reins for a little while, so that everyone can adapt to their new routine.

While you should make your expectations of the team clear, keeping an employee-centric approach at this time is vital to reduce stress and anxiety that your team may face. As well as the day-to-day work for your employees, try to give your team time to maintain their personal development and learning. This helps to ensure your top talent continues developing their skillsets and are ready to progress within the business in the future.

The post Leading In Lockdown: How To Support Your Team While Strengthening Your Business first appeared on Horton International.

Well, here we are now, faced with a massive example of a VUCA. In the middle of a crisis, it is critical for leaders to pause and take time to reflect on what is happening and how have we been able to lead during the past weeks and how to move forward. One could say the time of crisis is a “moment of truth” for us as a leader.

To help to reflect, I listed few ideas on where the focus should be in order us to be “the best versions of ourselves as leaders” during these times of crisis and in the VUCA-world.

1. Re-emphasize and concretize and the purpose and the direction. Then walk the talk. Now, more than ever your actions talk the loudest. Your actions will reveal what your purpose and values really are. Your future culture is set today.

2. Your perception of human nature becomes visible

2. 1. Do you believe that humans can be trusted and are capable of Independent and responsible decision making? Do you engage them actively and systematically to make sense of the situation? Do you keep them actively informed about what is going on, what are decisions and why? Do you make sense of the wold together?
   2. Do you make sure that any communication towards the people in your organizations is empathetic and respectful? How do you make sure that you utilize all the capabilities across the organization? Also, those that may not have been utilized as a part of the normal business. People do have great powers if you just are able to empower them
   3. The power of community is enormous. Do you create an environment where people can relate to each other, get support and be supported?
3. Are you leading and changing your structures and ways of working in an agile way to be able to respond most efficiently? Or are there still things that should not be discussed or questioned? Have you stripped down the bureaucracy and hierarchy and moved the decision making there where the expertise really is?

It seems that the world is profoundly changing. I do think that there is a great opportunity as long as we get past this immediate crisis with dry feet. It’s a moment of truth for all of us.

The post Leaders- Take time to reflect first appeared on Horton International.