When employees address issues early on — and without hesitation — organizations change for the better.
My biggest worry revolves around leading cultural and behavioral change in societies that have typically been more hierarchical in nature. In many markets, success has always been driven by presenting one’s boss with an already-solved problem and not getting much input from others.
Today we ask our people to escalate issues early — often before they even know how serious they may be — and to engage others. Engaging others helps get to the right solution with the full franchise view and leverages best practices across the institution. We also ask our people that if they see something that might be awry, to say something — and to the right leaders without hesitation — which does not always fit the legacy processes of a hierarchal organization. In some countries, this can be seen as being disloyal to one’s boss.
In this instance, I find it is critical to spend a lot of time providing the context and reason why we need the change. People need to relate to it at a personal level, so I use a lot of examples of situations I have faced — some very personal to my family and not just to my professional context — to help drive home the point and to role model what I am asking of others.
By Jane Fraser, CEO of Citigroup Latin America.
Source: Fortune
BCG analysis has found that among the 20 largest private equity (PE) fund portfolios, an average of 20% of assets are exposed to geopolitical risk (for several funds, the percentage is much higher). Companies must contend with three main areas of risk exposure: cross-border value chains, strategic sectors, and climate regulation and policies.
A group of global CEOs recently gathered for a private dinner in a Spanish restaurant in central Tokyo, representing a variety of sectors spanning food, insurance and banking, medical devices, semiconductors, and heavy industries like steel. These are six topics that dominated the evening’s discussion.
“Despite playing a significant role in organizations, HR is being left out of the conversation on AI adoption,” according to the report. That’s a mistake because HR leaders can help develop a strategic and holistic approach that considers the benefits, risks and objectives of AI use — while also maximizing return on investment and mitigating harms to reputation, security and inclusivity, it said.
