What’s New in Leadership

Oct 24, 2024

Leaders,

What’s up?

1. Business & Trends

Again, AI, but hey, we have to keep it up. In 2022, OpenAI launched ChatGPT, since then, only 33% of all U.S. employees say their organization has begun some integration into their business practices. That is quite some hesitation, isn’t it?

Even more critical is that some leaders are actively using AI tools for themselves, but most employees are not.

Last, but not least when you’re actually using AI, this is for what people are using it. Idea generation is leading the purpose:

In September, Amazon announced an end to the home office. Employees have to come back to the office full-time.
Amazon's push to get corporate staff back into the office has been a source of tension within the firm which employs more than 1.5 million people globally in full-time and part-time roles.
The socializing aspect is important. Yet, in the office people make way too many requests and come over for a chat, so it could be tricky to get things done.
Pros and cons on both sides.

A Revolut customer, Jack, had £165,000 stolen after scammers bypassed Revolut's security measures. Despite using ID verification and facial recognition systems, the fraudsters managed to gain access to his account, pointing to potential weaknesses in Revolut's security protocols.
Jack’s attempt to contact Revolut to freeze his account after realizing he was scammed was hampered by the company's lack of a dedicated fraud helpline. It took 23 minutes through a chat function to reach the appropriate department, during which time a significant amount of additional money was lost.
Revolut was mentioned in nearly 10,000 fraud cases in the last financial year, more than major competitors like Barclays and Monzo. Critics suggest that Revolut prioritizes growth and product expansion over security, leading to increased vulnerability to scams.

Hybrid Collaboration Plan: Half of hybrid workers lack a formal or informal plan for hybrid collaboration. Having such a plan significantly improves team collaboration, and engagement, and reduces burnout. Hybrid teams benefit from team charters outlining mission, goals, and collaboration strategies.
Effective Hybrid Practices: Regular team check-ins, setting clear guidelines for availability, and communicating periods of unavailability are crucial practices for effective hybrid work. These practices enhance team coordination and boost employee engagement.
Ongoing Reflection and Adaptation: Teams that regularly reflect on and adapt their hybrid work processes have better collaboration and higher engagement. Regular discussions about improving hybrid teamwork, as opposed to annual or infrequent talks, are linked to more productive and cohesive teams.
Credit: Gallup
Training is Crucial: Only a small percentage of hybrid workers and managers receive training for hybrid work. Upskilling is essential for hybrid teams to succeed, and it begins with managers. Effective management and ongoing training lead to higher employee engagement and team performance.

The fifth edition by PWC is now out.
The hope and fears come with employees being open to adapting to change and seeing potential in new technologies like generative AI. But they often feel overwhelmed by the pace of change and unclear on why it's necessary.
For transformation to succeed, leaders need to better communicate the reasons for change and actively involve employees in the process.

Six actions to build a future-fit workforce in an age of transformation:
- Focus on building resilience through leadership.
- Engage employees in transformations.
- Help employees to lead on innovation.
- Get them confident with GenAI.
- Focus on skill-building.
- Prioritize the employee experience for performance.