C-Suite Intelligence 22nd May 2020

Winmark's C-Suite Intelligence service providing news, content and research to help leaders across all C-Suite functions address the exceptional business planning and management challenges they are facing.

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TOP INSIGHT



Getting a degree is becoming irrelevant, we need to retrain the nation
 
The Times
 
In this morning's Times, Euan Blair, CEO of Winmark Technical Partner WhiteHat (info@whitehat.org.uk) sets out how a national programme of retraining can help Britain's firms power us out of the economic downturn.
 
The UK already faces a skills crisis in digital and tech that is costing firms billions. Coronavirus means the Government is paying for furloughed employees to do nothing, and school leavers are thinking twice about university - now is the time to deliver a national programme of training to keep existing employees engaged, and give new entrants to the labour market the best chance of success.
 
Drawing on examples from other countries, the article suggests the most important characteristics of such a scheme are that courses are driven by business demand, result in a certified set of skills, and that they take advantage of schemes that are already operating.
 
Read more here.

​​​​FURTHER INSIGHTS

 
Three simple lessons I've learned managing a fully remote team
 
Inc.com.
 
I've been leading remote teams for years in a variety of contexts, and along the way, I've made plenty of mistakes. I've also learned some simple lessons that might help you. Here are three things I've learned: 
  • Be clear in your expectations: The first thing to consider is how you set expectations. Whether or not your remote team will be successful depends entirely on this.
  • Focus on outcomes: Instead of focusing on activities and tasks, look at how the big picture can be broken into manageable outcomes, and hold people accountable to those. Focus on helping your team establish and meet realistic outcomes.
  • Trust your team: Leading a remote team requires you to trust them. If you find yourself anxious about what your team is doing, chances are you can solve that problem through better communication.
Read more here.  
 
How COVID-19 is transforming employee onboarding
 
PwC
 
Digitisation of the onboarding process is critical to meet the rapidly evolving needs of business. The opportunity it creates to cut onboarding time from weeks to days, for both the business and the new starter, can be achieved through digitising the entire process from contracts, verifications and compliance through to e-learning and connecting new workers with their teams.

This article provides real-life examples and key recommendations to successfully digitise onboarding processes.

Read more here.  
 
Operational risk assessment – a five step model to understand your risk position
 
Infosys
 
A careful assessment of your operational risks builds the foundation for any improvement. This approach answers crucial questions at each stage and uses the results as an input for the next step. 
  • Step one: Specify the field of action: what is the target area, the purpose, and the general subject of the assessment?
  • Step two: Refines the results of step one: what are the crucial documents? Which processes are specific?
  • Step three: The objects from this analysis will then be analysed in detail with regards to the risk contribution.
  • Step four: These risks or gaps are assessed using the collective expertise gained from the previous steps. What is the probability and impact of the risk identified? What are the regulatory and reputational consequences of a failure?
  • Step five: The risks are structured and documented to answer the question: what are the potential measures to reduce the risks? The who, what, and when of the most efficient measures are determined.
 


Read more here.

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