C-Suite Intelligence 21st July 2020

Winmark's C-Suite Intelligence service provides news, content and research to help leaders across all C-Suite functions overcome the significant challenges they are currently facing

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TOP INSIGHT



Now that we know remote works, what’s next?
 
Bain & Company
 
Forced to work remotely, many companies have noticeably improved speed, innovation and employee satisfaction during COVID-19.

Looking forward, companies will seek to maintain this success while striking a balance with in-person interaction. By following certain principles, leaders improve their chances of hitting the right balance.
  • Articulate the rationale. From the outset, clearly make the case for why remote work serves your organisation. The most effective approaches will be rooted not only in the lessons of COVID-19, but also in company strategy and culture. If closing offices is simply to save on rent, a company may soon find the benefit short-lived as talent seeks more flexible employment elsewhere.
  • Recognise that one size won’t fit all. No two companies, business units, functions or teams will have the same objectives, requirements or constraints for remote work. The future offers a range of possible work arrangements: fully remote, fully on-site, or a hybrid.
  • Look to reorient how work is done, not just where it is done. Avoid falling back into old ways of working by taking stock of what has changed for the better in recent months. For example, the president of Toyota Motor, Akio Toyoda, noted that working remotely had reduced document creation for meetings by half. How has the role of meetings changed for the better? What new ways of working have you adopted? The answers to these questions hold important lessons for companies as they reformulate, rather than replicate, office work.

​​​​FURTHER INSIGHTS


Daily update of global tax developments, lookup table

KPMG

KPMG is providing an overview of tax developments being reported globally by member firms in response to the current crisis.

A look-up table provides daily updates for a comprehensive range of countries and territories.
 
 
Research identifies five priorities for communicating with employees
 
Harvard Business review
 
TINYpulse created a 12-question assessment designed to measure employee satisfaction with the organisation’s overall interactions with them during the COVID-19 crisis. This article presents the five key takeaways for leaders.
 
 
Reskilling and remote working to recover
 
McKinsey & Company
 
With the accelerating adoption of AI and automation, and the rise in new ways of working, reskilling was already a priority for many organisations. The crisis has accelerated the trend as businesses have to quickly embrace remote working. It is more important than ever before to undertake reskilling at scale.
 
Recent research shows that smaller organisations are often more successful at reskilling their workforces - partially driven by the fact that they can and do follow agile principles. In addition, most companies that had launched reskilling programs felt more ready to address skills gaps caused by future disruptions. Interestingly, even organisations that viewed their reskilling programs as unsuccessful felt better prepared to take on future skills gaps. The act of testing and iterating in itself builds resilience - and is thus preferable to waiting.
 


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