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Here are the top news stories in talent & organization from this week.
Digital won’t cost bankers their jobs
Just as ATMs didn’t bring an end to branches, today’s digital banking tools are nothing to be afraid of, argues Dave Martin. “The widespread utilization of direct deposits fostered similar anxiety in bankers across the land. Clearly, the end was nigh for branches,” he writes in an op-ed piece in American Banker. “Similarly [to ATMs], this improved tool made banking easier for customers and effectively expanded the service areas of individual branches.” Martin admits that there are challenges to evolving how and where to engage with customers, but maintains that the new tools ultimately help talented bankers to become more productive than ever. “The tools of a trade are not the trade. Putting state-of-the-art digital banking tools into the hands of inexperienced employees won’t make them a banker who customers would choose to do business with,” he writes. “Bankers need to regularly remind their teams that even as the digital tools of the trade become more powerful, they’re still only tools. Talented and engaged bankers remain the core of successful banks.”
Nurture millennial talent to drive innovation
By putting millennials in more strategic and leadership roles, companies could advance IT innovation and digital transformation, claims Cedric Wells. “In the years ahead, millennials will continue to disrupt everything about the world we live in,” he writes in a blog post in Enterprisers Project. “This represents a great opportunity for organizations willing to cast aside the stereotypes, and instead harness the drive, loyalty and innovation that millennials bring to the table.” Wells believes that organizations can do a better job nurturing millennials. “Many millennials are ready to take on bigger roles, if given the opportunity,” he writes. “Consider roles where they can be a part of the strategic decision making and help the business cater to their millennial colleagues.” Millennials can also help companies redefine their cultures. “Let’s be honest, there are a lot of talks about what used to be the norm, or the famous ‘we’ve always done it this way,’ on issues that need to change,” Wells writes. “The issues range from silly policies around work hours and location, to dress codes, processes, and yes, even applications.”
Authenticity is key to a welcoming company culture
Harnessing the power of diversity in the workplace doesn’t happen automatically and requires effort on the part of leaders, claims Sonia Thompson. “Business is about belonging, and if the people on your team don’t feel like they belong, it will be difficult for them to bring their best selves to work,” she writes in an Inc. blog post. “You’ve got to create a culture that not only enables everyone to feel like they belong, but gives them a space to feel like they can be their true selves without having to wear a mask that negatively impacts the way they work.” Thompson recommends leaders to get to know and bond with their team members as individuals. “Learn about their differences, what fuels their worldview, and how that impacts the way they work,” she writes. “It’s for them to show up fully, authentically, knowing that no matter how many faces look like them when they show up, that they are seen, valued and welcome.”
Five ways CPOs must evolve
Heads of HR departments have found themselves with a unique opportunity—the chance to shed their administrator images and grab a seat at the table alongside the CEO, claims Samantha Todd. In a Forbes article, she shares the findings of “The Future Chief People Officer,” the latest report from the Society of Human Resource Management and Willis Towers Watson: 1. Push boundaries to power organizational agility. 2. Unleash digitalization for recruitment and employee engagement. 3. Embrace constant reskilling and continuous learning. 4. Rethink culture and leadership to promote diversity and inclusion. 5. Elevate HR decision science with predictive analytics and use it with empathy. “These five pivot points have to work in combination in order to take the organization as a whole to the next level,” Suzanne McAndrew, global head of talent advisory, data and software at Willis Towers Watson and coauthor of the report, told Forbes. “CPOs must be willing to have a growth mindset and ask the bold questions in order for things to come together in a cohesive way.”
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