As the world becomes increasingly more impacted by globalisation, technology, and social responsibility, the future of work is changing. After taking on the role of Editor-in-Chief, I wanted to speak with CEOs to find out what the Future of Work meant to them.
Companies are becoming more and more digital every single day. In fact, there are arguments being made that “every company is a technology company” because they have to use technology to gain a competitive edge. The biggest companies in your life – Amazon, Apple, Facebook, and Microsoft – have made big statements in the digital and technology worlds, but they’re no longer the only companies in the space.
Banking, Hospitality, Energy & Healthcare are now just a few industries that are rapidly taking on a more digital role.
Understanding and embracing a digital agenda for your company can help it grow and expand. As the CEO, you need to be the one to personally chart your company’s future growth digitally, understand how the Cloud works, recognise the impact of AI on the workforce, and put safeguards in place for cybersecurity risks. Delegating these crucial tasks may allow them to slip through cracks. At the end of the day, it’s your responsibility to protect your customers and their data.
Moving towards data and technology in your company is important because it’s how the world operates. It’s how your customers obtain their information, and it’s how you can connect with them. Overall, that means that you need to prioritise and invest in your own digital and technology skills so that you can stay on top of the digital issues relevant to your company at that point in time.
Robotics & A.I. will have the greatest impact on work that we’ve seen in generations. The real challenge will be adopting these technologies and how to manage the change this creates.
As a CEO, business itself isn’t your only concern. Disney stopping filming in Georgia is a perfect recent example. It’s essential that you have knowledge of your political environment as well because politics has the potential to disrupt investment and trade. Although your goal should always be to remain politically neutral, CEOs must have knowledge of these events and potentially liaise with global political leaders to build relationships.
Think about it in a couple of ways. Your loyalty is to your employees and to your customers. However, your company resides in a certain district with a specific legislator. This means that they’re as impacted by you as you are by them. You’re creating jobs and revenue and the economy needs that. Don’t forget that and don’t allow them to forget it either. Your company could be disrupted politically and that would produce a whole new set of challenges and obstacles. Additionally, be conscious of international politics as well as international policies have the potential to threaten revenue.
Companies which develop first-in-class sustainability practices now will be more resilient in the future. They will be more attractive to consumers, employees, and investors – which will directly affect their bottom-line.
New legislation across the globe will also be less likely to impact sustainable businesses, along with Internet activism and protests. Those businesses that invest in sustainability will reap the rewards in years to come.
In fact, investing in sustainable business is likely to make financial sense. According to Harvard Business School if you invested a dollar 20 years ago in a select portfolio of public companies focused just on growing their businesses , that dollar would’ve grown to $14.46. However if you had invested that same dollar in a portfolio of companies that focused on the most important environmental and social issues while growing their businesses, that same dollar would’ve grown to $28.36.
Therefore, today’s sustainable businesses are likely to become tomorrow’s industry leaders. Indeed, failing to address global issues such as climate change and slavery may ultimately be to a business’ detriment.
All companies have an opportunity to make some significant sustainable changes in their organisation. To create a better future – for all.
Technology, politics & sustainability are essential to guide CEOs in the workplace. That said, statistics demonstrate that more than half of CEOs don’t always yield to these statistics when their gut tells them otherwise. It’s important to understand how you can strike a balance when using data and your own intuition. It can help you to develop a strong strategy when it comes to the future.
Data generated by computers can now predict trends and patterns, which means it can aid you in your decision making. Learn how to use this to your advantage. In the past, you may have only had the past numbers and history of your company, now you have more information that also tells you about the future. While you can still decide for yourself what the best possible option is based on the specifics in the situation (after all, computers can only do so much), more information is better. This type of data will aid you in making decisions that could have been tough calls in the past.
With all of these constantly changing factors, the future of work is complex. The priorities for you as a CEO revolve around staying up to date in the digital and technology world, understanding how to navigate local and global political challenges wherever they may arise, and knowing how you can strike a balance when you have all of this information at your fingertips. Where do you draw the line between making calls with your own expertise and merely interpreting what you see on the computer in front of you? Your knowledge and experience in these areas are what will help you pull your company ahead today.