Pivoting people refers to a form of talent management that focuses on retraining employees so that they can fill those jobs or roles most closely aligned with an organisation’s strategic direction. Pivot-ready leaders have five leadership competencies:
- Structural analysis. All leaders must keep their eyes open and recommend changes to the structure of the organisation that might lead to greater efficiencies.
- Contextualizing change. Both major and minor shifts have the power to elicit fear and frustration from employees who might feel left out of the process. Leaders need to contextualize these changes and focus on the purpose - the why - rather than just the how.
- Building relationships. Maintaining a sense of community among staff members and other stakeholders and developing and maintaining relationships across the organisation can keep employees and managers motivated and morale positive.
- Embracing empathy. Reskilling employees was a challenge even before the pandemic. The time and effort required by the employee to acquire a new skill set (often at the expense of one they had already achieved mastery over) can be cumbersome and draining. Good leaders will listen to and try to work with employees.
- Personal resilience. Being a leader and a helpful presence by keeping employees connected and optimistic is not only challenging but also leaves little room for personal balance. Manage your time for collaboration, planning, and production by setting boundaries between your work and personal lives.
Open data means the ability to share financial data through a digital ecosystem in a manner that requires limited effort or manipulation. Advantages include more accurate credit risk evaluation and risk-based pricing, improved workforce allocation, better product delivery and customer service, and stronger fraud protection.
This discussion paper from the McKinsey Global Institute looks at the potential value that could be created - and the key issues that will need to be addressed - by the adoption of open data for finance. It focuses on four regions: the European Union, India, the United Kingdom, and the USA.
The results of PwC’s June 2021 Global Consumer Insights Pulse Survey show a historic and dramatic shift in consumer behaviour, including the continuous growth of online shopping and an increasing sensitivity to the environmental impact of purchases.
They survey also reveals consumers to be more price-oriented, healthy, data-conscious and ‘local’.