Articles in Category: Business

What is the Gig Economy and the Human Cloud?

01 October 2018

What is the Gig Economy and the Human Cloud?
On-demand jobs offer companies all the benefits of employees without any of the costs of paying benefits for them, are just the best work that desperate people can find.

A gig economy is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. The trend toward a gig economy has begun. A study by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors.

Canada’s big banks are losing their ability to attract top talent

12 September 2018

Canada’s big banks are losing their ability to attract top talent
Greater learning opportunities at FinTech startups is a key reason why top talent are walking away from the Big banks.

Banks face significant competition for attracting and retaining the kind of talent they need to meet the evolving needs of customers in an increasingly digital world.

There is a general shortage of candidates with technical skills and FinTech are snapping them up and the Big Canadian banks are losing out on recruiting the top talent.

Innovation through Team Cuture Change Management Strategies

24 August 2018

Innovation through Team Cuture Change Management Strategies
What cultural environment do team's need to thrive?

There is also widespread agreement about the cultural attributes that inhibit innovation.

  • A bureaucratic, hierarchical, and fearful environment limits creativity and innovation.
  • Such cultures often starve innovation of resources and use incentives intended to promote short-term performance and an intolerance of failure.

Recent research shows that innovation within organization still faces an uphill battle.

  • Only 28 percent of the senior executives in the survey said that they are more likely to focus on the risks of innovation than on the opportunities, but only 38 percent said that they actively learn from innovation failures and encourage the organization to do so as well.
  • Even more alarmingly, only 23 percent of the employees believe that their organizations encourage them to learn from failure.

Artificial Intelligence Briefing- The Impact of AI on Work

23 July 2018

Artificial Intelligence Briefing- The Impact of AI on Work
While AI technologies are still in their infancy, it won’t be long before every organization is forced to develop their own AI strategy in order to stay competitive.

Those with the HR teams, training program, organizational structures, and adaptable staff will be best prepared for this fast-approaching reality.

Artificial Intelligence is already forcing leadership teams around the world to reconsider some of their core structures. Fundamentally. organizations need an AI Strategy to stay completive

Robotics are a Key Element in Gartner's Top 10 Futuristic Predictions

17 July 2018

Robotics are a Key Element in Gartner's Top 10 Futuristic Predictions
According to Gartner's annual top-10 list of strategic predictions, robots, robotic systems and automation will have an expanding role.

Robotics, automation play a big role in Gartner's top 10 futuristic predictions.

Chances are robots aren't mowing your yard, teaching your children, or may become your boss. According to Gartner's annual top-10 list of strategic predictions, robots, robotic systems and automation will have an expanding role in our lives.

AI is Eliminating Middle Management and Changing the way Corporations are Organized

10 July 2018

AI is Eliminating Middle Management and Changing the way Corporations are Organized
The End of the Middle Manager-- What does this mean for you? If you’re a middle manager now, you aren’t doomed to early retirement. But you must be prepared to make two crucial investments.
If you’re a middle manager, you aren’t doomed to early retirement or an imminent layoff. However, you must be prepared to make two crucial investments. Middle management were invented to bridge this gap and make sure that information and projects were flowing from the execution level (rank-and-files) to the leaders (executives) and money was being made along the process curve.

Global Banking Outlook 2017 (Ernst & Young Global Research, 2017)

04 October 2017

Global Banking Outlook 2017 (Ernst & Young Global Research, 2017)
Uncertainty is no excuse for inaction. The report recommends that banks should take steps to  “keep customers safe” and “make things better for their customers.”

The 2017 Ernst & Young Global Research Banking Outlook Survey of senior executives at almost 300 banks across the globe, indicates that risk and regulation will continue to dominate management’s agenda over the next 12 months.

Leading banks are looking beyond compliance to optimize their businesses and improve financial performance.

The Characteristics That Separate Banking Leaders from Banking Laggards

02 October 2017

The Characteristics That Separate Banking Leaders from Banking Laggards
Business executives will need to work with IT more closely than ever before, supporting technology.

Bain Research believes this problem is larger than IT; it is a strategic business challenge as well as a great opportunity. Technology executives now have a platform and an environment in which company leadership is keen to listen and support IT initiatives.

Business executives will need to work with IT more closely than ever before, supporting technology recommendations and gaining a clear understanding of the challenges and opportunities that technology affords.

Working together, they can move quickly to bring their banks, insurance companies and other financial institutions forward into the rapidly evolving digital age.

Maintaining the tricky balance between outsourced and in-house

02 June 2017

Maintaining the tricky balance between outsourced and in-house
Worley Parsons CIO Brian Adams was halfway through a process of sending commodity IT services to an external provider, and the resources contractor struggles to keep up with a downturn in the market.

He revealed a simple test he uses to decide what goes out and what stays in: “The basic premise I work with is to ask ‘are we bringing additional value to our shareholders and to our bottom line by doing this ourselves’? And if the answer to the question is yes, it is something we should be doing. If the answer is no then we have got to be looking at alternative ways of doing it.”

Recommendations for Effective Digital Transformation in the Banking Sector

30 May 2017

Recommendations for Effective Digital Transformation in the Banking Sector

Going digital doesn’t have to mean millions of dollars n new investment  or a major IT upheaval. Large investment will be necessary in some areas, but in general, many of the elements Banks need to transform digitally may already be in place. Banks must find ways to leverage their digital assets better and invest in targeted ways.

Advice from McKinsey's Tunde Olanrewaju.