With the tide slowly turning for Australian businesses, forward-thinking CEOs should be positioning for growth as well as optimising their core business. This means putting customer relationships and innovation at the top of the to-do list and replacing a survival approach with a growth mindset.
Recently, tough economic conditions have driven CEOs to focus on operational effectiveness. While this will always be an important building block for a sustainable business, it’s time to change focus.
Despite some high-pro le closures and downsizing announcements in 2014, the Australian economy is gearing up, albeit cautiously and unevenly. While some industries are still treading water, two out of three companies expect revenue growth in the next year. Anecdotal evidence from Maximus’s leadership development programs con rms this growing optimism.
If you see better times on the horizon, you should be preparing your organisation for growth this year, next year, and beyond. Becoming more customer-centric is vital — it will help you to attract, retain, and grow more customers. Innovation is also important, so you can nd new ways to engage with those customers. But having the best strategy, processes, and technologies will only take you so far — ensuring that you have the right people is essential too.
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Talking About Your Generations
Millennials are so last century (literally). We’re kidding, but even as some leaders grapple to connect with that previous generation, here comes the next one. Maximus urges leaders to do a better job of connecting with Gen Z – understanding the aspirations and frustrations – and creating future-focused environments that they actually want to be a part of.
Digital Transformation: Build Your Talent Network
Many Millennials are rejecting a linear career path in favour of building a portfolio of consulting, freelancing, contracting, entrepreneurial and in-house employment experience. This opens the door for CEOs and HR directors to move towards a portfolio approach to employment that is a better fit for the dynamic modern marketplace than the traditional employer-as-owner model.
As machine learning and artificial intelligence (AI)increasingly take on work within service organisations, it’s up to leaders to distinguish how machines and humans vary when it comes to learning and leverage the opportunity for improved human performance.