“Planning without action is futile; action without planning is fatal.”
So said Cornelius Fichtner, a Swiss project management expert. Successful leaders understand that their careers and roles within organisations are ongoing projects that constantly needs to be consciously managed, adjusted, aligned with ever evolving strategic objectives, market forces, emerging trends and technological developments.
For executives looking to maintain their career on a positive, upward trajectory – whether pursuing a new role, growing within an organisation, or preparing for a significant step up – taking the time to reflect on personal goals and crystallising a structured vision of how to reach them by setting clear actions is key to success.
Breaking down that strategy into quarterly plans gives a practical framework to improve personal performance and retain a dynamic role in pushing for organisational growth and success.
The wind down to the end of the year and the run-in to Christmas can therefore provide the perfect opportunity for reflection and forward planning. Executives who make this an annual practice gain clarity on what they aim to achieve, why those goals matter, how they intend to accomplish them, and what or who is needed to make them a reality. This intentional approach minimises wasted effort and maximises returns by focusing resources on meaningful priorities. Leaders who act with purpose and vision inspire confidence in their workforce and stakeholders alike.
In the first of this two-part blog series, we focus on practical steps that executives can consider to set the stage for personal and organisational success over the first two quarters.
Q1: Reflect, Assess, Set Goals.
Reflect: The start of the year often brings a renewed sense of energy and resolve. Teams return refreshed and focused from a break, making it an ideal time for leaders to refocus their efforts. The perfect time, then, to reignite and engage with key stakeholders to understand their expectations, challenges and opportunities and galvanise them into action and aligning objectives.
Asses: Reevaluate and carry out a SWOT analysis (strengths, weaknesses, opportunities, and threats). Define both short-term and long-term career goals. Tools such as 360-degree feedback, personality assessments, and executive coaching can help shape a 12-month personal development plan with clear, actionable goals.
- Benchmark Skills: Compare existing skills against emerging opportunities and challenges. Identify areas for improvement, particularly in soft skills such as emotional intelligence, agility, and creativity, which are increasingly crucial in the AI-driven era.
- Schedule Development: Make time for training, conferences, or coaching. Populate your calendar with key events, manage conflicts, and work your projects around them
- Prioritise: Once you have a view of the coming months, you can set priorities and deadlines, Write a list of the most pressing demands on your time: what needs doing now, what can be delegated, what can wait?
Set Goals
Once objectives are defined, executives can lead team discussions to review successes and challenges from the previous year. Honest and active listening fosters collaboration, allowing teams to collectively identify potential roadblocks and opportunities.
- Explore New Markets: Evaluate how emerging trends, like AI, can enhance operations or open new avenues.
- Communicate Vision: Share objectives and inspire the team with a clear vision of the year ahead, ensuring alignment with organisational goals.
- Plan Talent Needs: Identify skill gaps and strategise whether to upskill current employees or bring in new talent. Build workforce confidence by highlighting how new technologies will enhance their roles and benefit the organisation.
Q2: Build Your Personal Brand, Communication Skills & Strengthen Relationships.
Branding
A strong personal brand is crucial for executives aiming to stand out. This involves defining a unique value proposition and aligning it with communication style, online presence, and professional networks. Think carefully about how you wish to present yourself and the purpose of your communication. Are you looking to attract the right talent or partners? Gain a promotion? Stand out in your field? Attract or assure investors? Adjust your language content and tone accordingly with the end goal in mind. You may wish to work with a mentor or coach for an objective view.
- Online Presence: Do optimise LinkedIn and other relevant platforms by sharing thought leadership content. See our previous insights on elevating LinkedIn profiles and networking effectively.
- Networking: Stay active in professional organisations and leverage opportunities to expand influence and connections.
Whether you are in the market for executive transition, executive outplacement or you are seeking to establish yourself in a new or current position, stakeholders, employees and employers, current and potential, need to understand who you are, what you represent and why they should place their faith in you.
Communicate:
Effective communication is a cornerstone of leadership success. Plans, no matter how robust, can falter without clear articulation. Executives must refine both their digital and interpersonal communication skills whether seeking a promotion or a new opportunity, or presenting an organisational strategy to the board or other stakeholders. The way you present and express yourself could mean the difference between success and failure.
- Transparency and Updates: Develop a plan for regular, transparent communication using emails, videos, or meetings. Provide updates and implement channels for feedback.
- Public Speaking: Hone skills in presenting to diverse audiences, both in person and online. In today’s business landscape, personality and likeability are more important than ever. While some have a natural affinity for public speaking and presenting, others may need professional coaching help improve confidence and delivery.
- Non-Verbal Skills: With increasing proportions of meetings held online, mastering the art of creating engaging presentations and holding the attention of people who may all be sitting separately in front of laptops in different time zones around the world is an additional challenge. Focus on body language, not just tone, to build trust and engagement.
Strengthen relationships:
Strong relationships are the foundation of effective leadership. Executives should prioritise key connections—whether with team leaders, clients, or stakeholders.
- Review and Follow Up: Revisit unresolved issues or recent communications to ensure alignment on next steps or actions needed. Schedule meetings with key stakeholders to maintain momentum and address emerging concerns.
- Support Teams: Collaborate with HR and managers to identify and support struggling employees, celebrate high performers, and mitigate risks of losing top talent.
- Encourage Feedback: Maintain an open dialogue to foster trust and identify challenges at the earliest opportunity, sharing your vision, identifying challenges and explaining how you plan to overcome them, to foster trust and openness. Invite feedback and respond positively.
By weaving these practices into their routine, executives position themselves for success going into the final two quarters of the year. They will have enhanced personal performance, strengthened relationships, and ensured their teams are aligned with strategic objectives. With clear KPIs in place, they can adjust plans to navigate challenges and capitalise on new opportunities.
Among all the competing critical challenges faced by CEOs on a daily basis it can be all too easy to manage with myopia – to only see what, and equally importantly, who, is directly in view. But failure to look further into the future can be costly and that includes neglecting to build a pipeline of future leaders who will ensure seamless transitions and continuous, dynamic organisational transformation. Direct costs associated with unplanned succession have been estimated at over ten times the price of an executive’s salary.
In the UK, almost half of businesses lack a formal succession plan even though by 2030, nearly a million businesses are expected to change hands due to retirement. A fascinating Harvard Business Review study estimated that poor succession planning costs the S&P 1500 companies an eye-watering $1 trillion per year while, conversely, good planning could increase valuations of the biggest companies by up to 25%.
Prepare for handover: If the preferred successors have been identified and invested from within the organisation, they should work alongside the incumbent in the months before the transition and undergo assessment alongside the executive and HR to identify any gaps in skills, training and experience which must be filled before they take up the new position.
They should have been introduced to key stakeholders to establish working relationships and trust to ensure partnerships and teams are aware of the coming transition and confident in and familiar with the incoming leader.
If the organisation is looking for continuity and stability, the anointed successor should be fully briefed and working with HR and the board to gain full sight of all projects and responsibilities.
If the new appointee is coming in from outside of the organisation, there should ideally be a well-timed crossover where the successor joins the organisation, shadows the outgoing leader who will introduce their successor to relevant staff and partners. This period should not go on too long, or it will diminish the new appointee’s capacity to assert their own personal style and culture.
Of course, the board may be looking for a change of direction, which may come as a shock to key stakeholders. In such cases, the groundwork must be laid to prepare the workforce, customers, partners and if relevant, regulators.
Hopefully, the handover will be cordial, however there may be times when the situation is more hostile, for example if the incumbent has been fired or is going to a direct competitor, in which case key members of the teams around the outgoing leader will be key in helping smooth the transition while the CEO, other senior executives and comms teams will need to communicate with stakeholders to minimise any potential reputational damage.
Monitor and support: Once the new appointee is in place, it is essential to continue to evaluate and measure progress against KPIs and work with them to tweak any teething problems. Support them to build a team with future leadership potential to maintain the continuous cycle of development of talent.
By taking these steps and committing to a structured leadership pipeline, organisations can plan further into the future with confidence and build adaptability and agility into business models to allow dynamic transformation while preparing for any economic or organisational shocks. None of us could have predicted the global disruption and human loss of the Covid pandemic. How many organisations have learned from it and would be able to replace stricken leaders or respond with structural and operational change to adapt models to seismic shifts such as that one? Succession planning should be loosely based on the cycle of churn for different positions, but with a pool of talent from diverse backgrounds who can step in at any time to ensure continuity and growth even as organisational objectives develop and change.
Once natural succession planning has been built into a business model it can be self-sustaining, with increasingly measurable and visible benefits. At Rialto, we find that talent that has been nurtured from within by partnering with us through coaching or attending a leadership development programme tend to demonstrate increased commitment and engagement minimising attrition costs and disruption. Any company that manages to keep a loyal, happy and aspirational workforce that understands hard work and impressive performance will be rewarded with meaningful promotion, will see their global reputation enhanced, productivity increase and a virtuous cycle of talent and growth. This should be balanced, however, with the introduction of fresh talent from other backgrounds, companies, sectors, industries and countries to avoid stagnation and promote dynamic cultural evolution, creativity, energy and innovation.
It is difficult to believe that just two years ago, only data scientists had really heard of Generative AI, the form of artificial intelligence that can create content, images and code; summarise vast amounts of data and extract insights according to prompts; identify patterns and illuminate concepts, stimulating creativity and filling vast gaps in our knowledge.
Below is The Rialto guide to the five stages of AI maturity – and actionable steps to help executives guide their organisations safely and strategically to a place of seamless integration and augmentation delivering growth, efficiency, improved services and products and innovation.
The arrival of the first open source ChatGPT in November 2022 led to a more dramatic transformation of the business landscape than any previous innovation and continues to evolve at a dizzying pace, offering unprecedented opportunities for growth and development.
For executives and senior leaders this has presented a new set of challenges – how to guide your organisation through this revolution at the right time, at the right speed, with the right platforms and end uses. Too fast and you risk destabilising your business model and workforce, buying into the hype, overspending on under-developed products and creating an expensive mess. Too late and you risk falling too far behind to catch up, allowing competitors to gain a defining edge.
At Rialto, we support executives to understand the five stages of AI maturity, creating a personalised roadmap aligned to their organisation’s strategic objectives, budget and culture. Those stages go from scepticism/ nascent awareness – the tentative first steps – to maturity, where AI is integrated into all relevant parts of the business, staff are trained and on board, business development and growth are driven by data and insights and a robust governance and ethics framework ensures Gen AI and other emerging technologies are being used safely.
Here is a brief outline of that map, the percentage of organisations at each stage of maturity in 2024* and some of the actions the Rialto team encourage executive teams to take at each stage.
Stage 1: Nascent awareness/scepticism. 26% in 2024
Organisations at this stage may be eschewing AI altogether or understand its potentially profound impact on growth and operations but lack a clear plan or strategy to move forward. Perhaps AI champions are meeting scepticism or fear from key leadership and stakeholders. According to various surveys, the percentage of organisations at this stage was anything between 43% and 65% in 2023, compared to the 26% figure quoted above in 2024 showing the speed at which organisations are moving on. To avoid losing ground and potentially destabilising your business’s future, our team recommend the following steps are taken as a wait and see approach in 2025 will be considered a high risk strategy.
Leadership Action
Prioritise Education and Vision: Leadership must start by educating themselves and their teams about AI’s capabilities and potential. Rialto works with c-suite leaders to support them through this vital first stage with confidence and ensure no wrong turns are taken. Time is now at a premium, the journey into an AI-driven future must be clearly mapped out with strategic objectives at the fore to catch up with the field without rushing into critical mistakes.
Prepare your workforce: Bring in AI experts and facilitate open, two-way discussions across departments to ensure a smooth, carefully choreographed entry. Invest in training to increase awareness and understanding among employees. Invite feedback and act on it – only 17% of companies do so at this stage. Ensure your biggest asset, your people, are at the forefront of this journey throughout. Collaboration, confidence and co-operation are essential.
Evaluate the Market and Competition: Leaders should analyse competitors to identify how AI is shaping their industry landscape and assess their own position. Rialto has partnered with a number of executive teams to build their business case for AI investment by highlighting both risks and opportunities to help ensure buy-in from all stakeholders.
Formulate a High-Level AI Vision: Leadership should articulate a clear vision of what AI could potentially achieve for the organisation. This doesn’t have to be fully fleshed out but should set the stage for future AI initiatives.
Assess Current Data Assets: Leadership should work with data teams to audit available data and build systems that can collect and analyse clean, relevant data aligned to strategic objectives as this will be key to future AI success.
Identify Low-Hanging Fruit. What are the best and least complicated first case uses? Seek repetitive, time-consuming, administrative tasks that could be streamlined; customer service portals that could be automated. You may seek external support as well as working with c-suite and data teams to build new AI-led systems that will show instant results with minimal risk to build confidence and demonstrate value.
Stage 2: Experimental/Activation. 41% in 2024
Two fifths of organisations assess themselves to be in this stage, experimenting with AI technologies to address specific opportunities or challenges. This phase is entrepreneurial and opportunistic with a focus on learning, testing agility of existing business models and data. More conservative, risk-averse companies might feel most comfortable at this stage now, trialling and preparing their organisations for more wide scale transformation in the next two to five years.
Leadership Action
Set Up Pilot/Proof-of-Concept Programmes: Identify and define high-potential, simple to run end uses and trial small, measurable projects within a controlled environment. Emphasis should be on analysing results and interaction with systems and employees, iterating and identifying areas which need to be adapted and developed before bigger, more risky projects are explored.
Foster a Culture of Experimentation: Leadership needs to encourage a mindset where small-scale failures are viewed as learning opportunities. Our project teams often find successful organisations treat their AI pilots as experimentation cycles rather than one-time projects. Ensure all learning is documented, analysed and applied to future projects and scaling up.
Identify Key Metrics for Success: To that end, establish clear KPIs to continually evaluate the success of these AI experiments, whether improved efficiency, growth, cost reduction or customer or employee satisfaction. Iterate based on feedback. Report to stakeholders, demonstrating transparency, feasibility and value.
Develop Cross-Functional Teams: Include IT, data scientists if you have them, business unit leaders, and compliance officers in pilot teams to ensure pilots are practical, scalable, and compliant. Smaller companies may wish to hire consultants.
Invest in AI Talent: As experimentation ramps up, recruiting AI specialists or upskilling existing employees will become crucial. Maintain open dialogue with existing staff and look for opportunities to upskill to foster trust.
Stage 3: Foundation Building, Investing in Infrastructure and Data, Wider Experimentation. 2024: 14%
This is where we start to enter the more advanced stages inhabited by earlier adopters. These may tend to be enterprise and innovative and/or tech companies which have a clear understanding of how AI can benefit their operation and have defined processes for implementation across the organisation. Leadership understands the need for robust infrastructure, data governance and AI talent. According to a Gartner report, 80% of AI projects will fail to scale by 2025 if companies don’t build a solid AI infrastructure.
Leadership Action:
Introducing wider AI projects: Those low-hanging fruit identified in stage one should now be going live and being closely monitored for governance, security, quality, impact and ROI. Our clients have tended to scale up first in operational optimisation, customer support and marketing analytics and content creation. If your organisation does not have its own AI ecosystem in place, with a c-suite leader taking accountability and data leads in relevant teams, it might be an idea to bring in external consultants to maintain dedicated oversight and advise throughout this process.
Data Strategy & Infrastructure Investment: Leadership should prioritise building a scalable data infrastructure. This includes investing in cloud computing, data lakes and the tools necessary for managing large datasets. Test platforms for compatibility, robust compliance, cybersecurity, customer service and ease of use before scaling up.
Focus on Data Governance: As AI thrives on data, it’s imperative that leaders ensure that data collection, storage, and usage adhere to regulatory standards. Data governance frameworks must be implemented to guarantee AI models are ethical, secure, and transparent.
Recruit Specialised Talent: In this stage, it’s essential to have the right expertise to scale up and optimise AI use. Leadership should seek to build teams of data engineers, machine learning experts and AI project managers or bring in consultants.
Consider Establishing a Data Governance Committee: Form a committee to ensure data privacy, quality, and compliance are central to your AI operations. Ensure accountability and transparency.
Promote Data Literacy: As AI permeates every level of the business, leadership should invest in data literacy programs to ensure employees at all levels understand how to share relevant, clean data with the knowledge base and interact with and interpret AI outputs.
Stage 4: Strategic Scaling Stage, Deploying AI Across Functions, Optimisation. 12%
Just one in eight are at this stage and those that are here and beyond – having reached it carefully and in alignment with strategic objectives – are reporting promising results with efficiency savings, growth and vastly improved products and services. At stage 4, AI moves from pilots to full-scale deployment across multiple business units. Agility is built into business models to continuously adjust and adapt. The workforce should be growing in confidence, with AI integrated into their routines and actions.
Leadership Action:
Consider Investing in AI Platforms and replacing some legacy systems: Seek advice on which platforms to use and look at what competitors are doing with them. You may wish to invest in a single Gen-AI powered CRM such as Amazon AWS, Salesforce or Hubspot, and bolt-on other application and tools – or have your data scientists build your own using open access Generative AI models. Continuously monitor ROI and build a relationship with the provider to ensure constant adaptation and improvement or consider alternatives.
Align AI with Business Goals: Always start with objectives, not the technology, to avoid buying into hype. New models and platforms and iterations are coming on to the market daily. In this second wave of adoption, consider prioritising high-impact areas such as supply chain management, customer personalisation and fraud detection.
Consider Creating an AI Centre of Excellence (CoE) and/or Data Governance Committee: Establish a centralised AI committee or CoE that drives AI strategy, oversees technology deployment, and ensures best practices across the organisation. An ecosystem should now be in place with c-suite responsibility and accountability and company policies, guardrails and training for anyone in knowledge-based or customer facing roles in risk and compliance issues such as data security, copyright infringement, GDPR, inaccuracy and bias.
Leverage Data: Use analytics to gain insights, drive decision-making and continuously improve your offering, operations and forward planning.
Stage 5: Maturity, 7%.
Organisations at Maturity stage will find that AI has become a core component of the organisation’s DNA, integrated into the very fabric of the company, driving every aspect of decision-making and enabling continuous innovation. According to a study by Accenture, the few businesses in this stage outperform their competitors by three times in terms of profitability. In the most extreme of AI streamlining exercises, Meta boosted net income by 201% and saw a 178% stock surge by focusing on AI operational efficiency. However this came at a cost of 21,000 jobs. Companies that have successfully reached the fifth stage of maturity find themselves in a virtuous cycle of continuous improvement while employees understand the value of data and are guided by AI copilots in everything they do. AI augments every task, function and team. Employees are 1.5 times more likely to view AI as a helpful colleague. This shift in perspective leads to increased AI usage, enthusiasm, and productivity gains. Impact is assessed and ROI and value are demonstrable and measurable. Robust guardrails are in place to minimise and mitigate risks.
Leadership Action:
Foster Continuous AI Innovation: There is no time to rest on laurels. Other organisations are catching up and technology is constantly evolving. Leadership must keep pushing the envelope by encouraging teams to innovate continuously. This may involve AI-powered R&D initiatives or the adoption of cutting-edge technologies such as AI-generated content, AI-driven customer experiences and autonomous systems.
Evolve Organisational Structures: Leaders should ensure that the organisation is agile enough to respond to the fast-paced changes in AI technology. This may involve restructuring teams, constantly upskilling or creating new or hybrid roles.
AI in Strategic Decision-Making: Make AI a critical player in c-level strategic decisions, using AI-driven insights to predict market trends, customer needs, enhance supply chain and internal operational efficiencies.
Stay Ahead of AI Trends and New Tech Offerings: Leadership must stay abreast of the latest AI advancements such as generative AI, reinforcement learning, or edge AI, and adapt them to their current and future business models. Rialto supports c-suite leaders at this stage to maintain a bigger picture perspective, stay focused on future and personal/professional development.
Benchmark Against Industry Leaders: Continuously evaluate your AI maturity against the best-in-class organisations to identify new areas for AI-driven growth.
Maintain virtuous cycle of improvement: Ensure data analytics feed into continuous development and growth. Maintain a constant state of innovative evolution. Sustain and expand capabilities and use cases.
Ethical Considerations: Never lose sight of the governance and ethical risks and responsibilities. Build in continuous reviews and ensure continuing compliance with changing regulations in different territories.
Benchmarking your organisation against the above five stages will provide a clear indication of where you and your company lie on the path to AI maturity and the steps you may need to be considering accordingly. It’s clear that organisations are moving through this process at an ever-faster pace, reflecting the growing importance of AI in today’s business environment. Yet with 41% of organisations now in the experimental stage and only 7% in full AI maturity, there remains a significant opportunity for competitive growth.
While cost reduction and efficiencies may be the primary goal of immature adopters, high performers are twice as likely to have shifted into a phase of innovation where they use Gen AI to create new businesses or offerings, expand into new sectors or regions armed with detailed insights and the confidence of likely success gained with reliable analytics extracted from vast lakes of data.
The shift from initial scepticism to full AI integration can happen faster than many expect with the right approach. Whether you’re just starting out or already experimenting with AI, having a clear roadmap and a focus on continuous innovation will enable your organisation to progress rapidly and stay ahead. The question isn’t whether you should move up the stages, but how quickly you can—and will—do so.
Whatever stage you are at, The Rialto team of experts can help guide you and your organisation to maturity at a pace that suits your culture, while ensuring a human-centric focus, bringing your people on this journey with you. Contact us for a free initial consultation if you would like to know more.
*Asana and Anthropic State of AI at Work study
As we move towards Q4 and start thinking about end of year, is it just possible to detect an air of optimism that there could be some economic certainty ahead of us? While there is still a need for caution, Chief Human Resources Officers (CHROs) should be preparing for the fourth quarter by looking ahead at a relief on the hiring squeeze and preparing for more mobility in the market.
That means ensuring departmental strategic priorities are fully aligned with evolving demands, opportunities and challenges of both the organisation and the workforce and making adjustments which anticipate emerging trends. The final quarter is a time to review performance of team capability, plan interventions where necessary – including reskilling and upskilling – and think ahead to 2025 fiscal planning to ensure the workforce is agile and ready to evolve with AI and data-driven initiatives which will continue to be the biggest drivers of progress and growth.
Here are the priorities HR Directors should be considering to help steer their organisations through this final quarter.
Leader and Manager Development
Markets are in a more dynamic state than ever before, largely due to the phenomenal rate with which AI, and particularly Generative AI, continue to evolve and shape business processes.
Q4 is a good time for HR Directors to review how prepared their organisation is to fully realise the potential opportunities and defend against the risks. This change management starts at the top. What will differentiate companies that ride the wave of AI-driven progress from those left floundering in their choppy wake is decisive, informed, confident leadership.
Only then can they guide their managers and teams through this time of uncertainty and change and inspire and empower staff to rise to the challenges. New skills are needed for this new world. Check your leaders also are up to speed on appropriate management style with an emphasis on emotional intelligence, empathy and good communication over authoritarian command and ivory tower leadership. Now is a good time for HR to look at hierarchical structures and ensure the workplace remains open, inclusive and a safe environment in which to foster innovation and creativity.
Key actions: Audit your Board and SLT – decide how best to invest your remaining budget in development programs, executive coaching, digital fluency and continuous learning opportunities and/or plan for fiscal 2025 to help ensure they truly understand the complex new landscape and have the skills in place to constantly adapt and optimise.
Talent Acquisition and Retention
The labour market is anticipated to continue to present challenges with talent demand outpacing supply in many areas, especially around AI-led transformation. CHROs need to refine talent acquisition strategies by leveraging AI and other emerging technologies to streamline hiring processes and improve candidate experiences. How is your attrition rate looking so far this year? Are you losing valuable talent to advanced, more forward-thinking, inclusive and nurturing organisations?
In today’s market employees are far more willing to move around to ensure their needs are met, rather than consider a lifelong career at a single company. In order to retain valued talent and fill skills gaps, consider upskilling existing staff through continuous learning to help build their portfolios, keep them motivated and engaged to improve productivity and serve organisational need.
Key actions: Review your performance on Glass Door or any other company review site and conduct employee satisfaction surveys to learn what you are doing right and what you could do better. Investigate AI-driven recruitment tools and data-driven analytics to help monitor and improve employee experience. Consider how you might enhance internal mobility programs and making them more visible and accessible to current employees.
Foster Positive Organisational Culture and Employee Well-being
A vital element of talent acquisition and retention, every company’s success is closely tied to the well-being, loyalty and engagement of its employees. As the year comes to a close, it’s important to ensure that your workforce remains motivated and aligned with the company’s goals. Year end can see an ennui set in, especially with dark nights drawing in and the wind down to Christmas. How will you maintain energy levels and monitor and nurture the mental health and wellbeing of your staff?
Key actions: CHROs should prioritise initiatives that promote a positive work culture, address employee burnout, and recognise the contributions of their teams. Consider a mid-quarter initiative to lift and energise the workforce, for example, gamification of more mundane tasks, a new reward system, inter-departmental tournaments or team-building activities.
Drive Cost Efficiencies through AI-driven innovation
It’s been another tough year with economic uncertainty and budgetary constraints. CEOs and other stakeholders want to see evidence of cost efficiencies within HR functions without compromising the quality of services. Review the bottom line before the end of your financial year and ensure you remain on target.
Do you need to modernise recruitment methods using new technologies? Are you automating repetitive, time-consuming tasks such as payroll processing and benefits administration? Ensure your AI-led transformation is transparent and use internal communications effectively, including messaging from the top, to assure staff they are valued, explain how technology will benefit the organisation and ensure they do not feel alienated or fearful. All tech transformation should be people-centred. Take the opportunity of the next board meeting to ensure that all members are aware of the impact a likely acceleration of AI integration through 2025 might have on staff and put strategies are in place to mitigate and minimise this.
Key actions: If you haven’t already, ensure discussions around AI and automation are being held at C-suite level. Where can you make efficiency savings by bringing in AI to take on repetitive tasks and augment the more complex work of human employees? Look at what competitors are doing and pipeline technologies coming onto the market. Show initiative and take them to the board this winter. Audit your workforce skills: looks at training budgets and think about how that money could best be spent on futureproofing your organisation.
Diversity, Equity, and Inclusion (DEI)
Promoting DEI is not just a moral imperative but a business one. CHROs should continue to prioritise building diverse teams, especially at the leadership level. Implementing unbiased recruitment processes and fostering an inclusive workplace culture can help organisations attract and retain diverse talent, which in turn drives innovation and better decision-making.
Key actions: Review any changes to DEI laws and guidance in any territory in which your organisation operates before year end. Check you are compliant and look into any laws tabled for the future to ensure you are prepared. Look at what is happening in your market for inspiration on ways to differentiate your company and make its DEI credentials stand out and ensure they are visible to prospective talent.
Align the organisational skills base with evolving drivers for growth
Q4 is a good time to ensure your workforce is aligned to strategic objectives – have they changed since goals were set at the beginning of the year? Is it equipped to respond positively to current and emerging trends, opportunities and challenges? It is essential that HR builds agility and adaptability into its workforce and can constantly assess and adjust. A staff base that is concrete-footed will be too slow to pick up new technologies and ways of working. If your workforce is falling behind, what can you do to bring it back in step and prepare it for the near future?
Key actions: Audit your workforce skills base against current and future requirements based on your organisational objectives and wider market forces and developments, especially around AI. Look at budgets for training and career coaching for the rest of this fiscal year and next and plan upskilling to suit. Consider AI tools to help monitor performance and introduce automated continuous learning to keep your workforce agile, responsive and up to date.
Modern day boardrooms are increasingly recognising the need to have HR representation at the highest decision-making level. Many CHROs will be into only their first or second year so it is imperative that they use this time of year to demonstrate value and show they are as integral to the progress and growth of an organisation as any other department. Take time in Q4 to review the year to date, make any adjustments to policy, recruitment and skills and plan future growth and efficiency savings through technology-driven initiatives.
Prepare the case for increased budgets for training and development to ensure your workforce is AI-proficient and ready to adopt new technologies and working practices to leave the competition for dust.
As 10,500 super-humans at the peak of their powers give their absolute all in Paris for the honour of bringing home a medal, most of us can only sit back and look on in awe. They may be faster, higher, stronger as per the original Olympics motto. But simply having a natural physical advantage and access to a particular sport is only the start of the long and arduous journey to the top.
Leaders can learn a multitude of valuable lessons from Olympic athletes, whose dedication, discipline, and resilience offer profound insights into elite performance. Behind every competitor is a story. How did they get to be among the very best? What drives them? How do they maintain that discipline? And what is the magic that inspires so many to break world records and personal bests during this 11-day period once every four years?
Here we look at some of the legends of the modern Olympics; their techniques, practices, and temperamental qualities and explore how leaders can seek to emulate them to elevate their own professional and organisational performance.
Adaptability – Oksana Masters, Paralympic Rowing, Skiing, and Cycling, USA
Masters’ difficulties started before she was even born. She was exposed to in-utero radiation poisoning from the Chernobyl nuclear disaster in her native Ukraine resulting in constructive surgery to her hands and a double leg amputation. After spending her early years in orphanages where she was abused, she was moved to the US aged seven. She entered her first Paralympics in London in 2012, winning a medal in the rowing, and has gone on to pick up medals in cross country skiing and the biathlon. This year she’ll compete in cycling.
“That’s the cool thing, which I think a lot of people don’t realise, about Paralympians,” Masters has been quoted as saying. “We’re constantly adapting to our environment, because the world was never created for us.”
While few of us will face the kind of challenges Masters has overcome, she is a shining example of how adaptability enables us to survive and even seek opportunities in difficult circumstances. She took up cycling to overcome a back injury and ended up competing in it at the highest level.
Leaders must be flexible and ready to pivot in response to changing circumstances. Sometimes, the greatest innovation and the most positive transformation comes from necessity. Author Napoleon Hill said, “Every adversity carries within it the seed of equal or greater benefit.” The business and economic landscapes are changing fast with vital forces including globalisation and AI. Strong leadership needs to be alert to those changes and nuances and be able to adapt positively and decisively to seize opportunities.
Self awareness. Simone Biles, Gymnast, USA
Four-times gold medallist Biles made a triumphant return in Paris after pulling out of the Tokyo 2020 finals. She was experiencing a mental block unique to gymnasts, known as the “twisties”. Biles faced an initial backlash from critics who accused her of letting her team down and being afraid of failure after a poor first round score.
In fact she was having a breakdown.
Having grown up in foster care and later suffered abuse within her sport, she shared that she urgently needed to take time out to look after her mental health, kickstarting a wave of support and a global discussion about the subject which had been something of a taboo in sport. “Sometimes, you have to take that power back,” she said.
Her self-awareness and intuitive knowledge of what she had to do – step off the big stage and heal at home with the support of loved ones – saved her from total burnout.
Leaders face unprecedented and competing pressures and little thought is given for the toll that can take. They are expected to just get on with it all. But they are only human and need to recognise their limits and take care of their well-being to sustain long-term performance. Self-awareness helps leaders understand their strengths and weaknesses enabling better decision-making and personal growth. Taking time to be mindful of your physical and mental health – and knowing how, where and whom to ask for help if you need it – will keep you at the top of your game for the long haul.
Courage – Adam Peaty OBE, Swimmer, GB.
Peaty is regarded as the best sprint breaststroke swimmer of all time. He was the first British swimmer to ever retain an Olympic title and has broken the 100m World Record 14 times.
Yet as a small boy he was so terrified of water he would scream if anyone tried to get him near a bath.
He has certainly faced that fear down.
No matter how experienced, qualified or senior, nobody is immune to an attack of the terrors when faced with a new challenge or pressure. How does Peaty deal with it? “Honestly you can overthink it,” he says. “It’s two laps of the baths.” When facing a fear it’s helpful to break it down.
Leaders often face daunting challenges and uncertainties which take courage – it means standing out in front and expecting people to believe in you. Courage does not mean having no fear – it means being afraid and doing it anyway. Embracing new challenges, even if they may seem overwhelming – like returning to defend an Olympic title after a four-year gap – is what keeps leaders sharp, engaged and at the top of their game.
In Paris, Peaty missed out on matching icon Michael Phelps’s three Gold medals in the event by just two hundredths of a second – leaders will know the feeling of giving their all and only to see an opportunity or promotion go elsewhere.
We could all learn from Peaty’s magnanimous response after what many viewed as a defeat – second place and a silver medal to add to his previous haul. He had been crying, he admitted, but they were tears of joy after his comeback from burnout, a broken foot and too much drinking.
“If you’re willing to put yourself on the line every single time, I think there’s no such thing as a loss. And I’m so happy that the right man won.”
His honesty over his own weaknesses only served to elevate his heroic status making him more relatable, another leadership attribute that inspires teams. We could all be more Peaty!
Perseverance – Eddie “the Eagle” Edwards, Skijumping, GB.
Who could fail to be inspired and enchanted by the most unlikely Winter Olympics hero of all time (with close competition from the Jamaican “Cool Runnings” bobsleigh team). With no financial backing, the plasterer slept in his car and borrowed ski boots so outsized he had to wear six pairs of socks. He qualified to represent Britain on the sole achievement of being the first and only British candidate and faced cruel opposition from the sport’s governors. After his first entry at Calgary in 1988 – when he came last in both his events, scoring only half the points awarded to the second-last placed Spaniard – the rules were changed to ensure he couldn’t return, sealing his status as a British underdog legend.
No matter how many obstacles were put in his way, sometimes by chance, sometimes intentionally, Edwards refused to give in. He knew what he wanted and was prepared to sacrifice so much, work so hard and endure hardship, mockery and snobbery to achieve his ambition, even though he knew he would never win.
Leaders must be resilient, pushing through setbacks and persisting in the face of adversity. If executives and leadership can learn anything from Eddie, it’s to dig deep through the tough times, find creative ways around or over obstacles, navigate resistance and do whatever it takes to land safely at the other side. He may not have won a medal but he did lift the nation and challenge ideas about elitism and what constitutes success. His perseverance paid dividends in other ways with his subsequent career as a much-loved TV personality and national treasure.
Effective teamwork – Jason Gardener, Darren Campbell, Marlon Devonish and Mark Lewis-Francis, 4x100m relay, GB.
Nobody was going to beat the Americans at the 2004 Athens games. They had won 15 of the previous 19 Olympics finals and, with Justin Gatlin and Shawn Crawford, the 100m and 200m gold medallists, plus Coby Miller and Maurice Greene, the result appeared to be a foregone conclusion.
But that’s not how it worked out. Here were four of the most brilliant individuals in their field but this was a team event. They weren’t a team. Sloppy passing let the Brits snatch gold by a hundredth of second, the country’s first since 1912. Campbell had been all ready to go home after facing criticism from track legend Michael Johnson. “I had a meeting with the guys and said if they wanted me to keep going I would,” he said afterwards. “Once they put their faith in me, I had full faith in them. The craziest thing is we knew we were going to win it.”
Here was a team galvanised by adversity – they had almost been disqualified before the final but appealed successfully. One of their own had been humiliated internationally. It fortified and united them, ultimately propelling them to one of the greatest British Olympic victories in history.
Teams need leaders. But leaders need teams equally. Identifying strengths and weaknesses and knowing who to put on which part of a project or with a particular client, maintaining an open dialogue, building trust, genuine loyalty and mutual support builds winning teams.
Healthy rivalry with other teams within and outside of the organisation can help strengthen team identity and resolve, as long as it doesn’t get out of hand. Think of Seb Coe and Steve Ovett, pushing one another to land gold and silver in the 1980 800m for Team GB – not figure skaters Nancy Kerrigan and Tonya Harding, whose bitter conflict resulted in Kerrigan being attacked with a metal bar before the 1994 Games and Harding banned from the sport.
Olympic athletes don’t win medals by accident. They rigorously train; stay focused and build up to peak performance with immaculate timing. They are driven constantly by the desire to break records and achieve personal bests. They compete not just for themselves, but for their team, for their domestic club, for national pride. Similarly, leaders need to stay focused on their vision and goals, maintaining discipline in their actions and decisions to drive consistent progress and achieve long-term success. By understanding the competition, cultivating a mindset of continuous improvement and always seeking ways to enhance skills, processes, and outcomes, they can drive a culture of innovation and learning supporting sustained growth and competitive advantage.
The inspiring journeys of Olympic athletes, of which we’ve only described a few, can serve as powerful motivators. Leaders can draw on these stories to inspire and motivate their teams, creating a culture of ambition, resilience, and excellence. Sharing stories of overcoming adversity and achieving greatness can boost morale and foster a positive organisational culture.
Here at Rialto, we find that drawing on sporting analogies can act as a powerful tool for leaders to work through leadership challenges. These analogies provide relatable, vivid, and memorable ways to convey complex ideas and inspire action.
The prevalence of older figureheads at the top of some of the most respected and best paid professions and institutions might suggest that the younger baby boomers and older Generation X-ers have never had it so good.
The median age of the world’s national leaders is 62, 70% of UK judges are over 50 and a third over 60; the average FSE 100 chief exec is 56 and the average US equivalent six years older.
Ageism, what ageism? Some might say.
However strip away these super successful outliers and the picture looks far from rosy:
- Half of all workers will lose their jobs in their fifties, most laid off or pushed out, many feeling unable to continue due to caring commitments or health issues.
- Three quarters in the same age group will not be offered promotion opportunities in their current organisations.
- Recent research by the Centre for Ageing Better found that half of people over 50 had experienced discrimination because of their age, most in the workplace.
- More than 800,000 people aged 50-64 are out of work but would like to work.
- Finance, insurance, communications and information and professional and technical services have some of the youngest workforces, making it increasingly challenging for those even in their mid-40s to remain visible and compete for some of the most sought-after roles in those sectors.
- The big four accounting giants – Deloitte, PwC, EY and KPMG – even have an upper age limit for global leaders who are expected to retire at 60.
So how can senior leaders and executives ensure they continue to be valued and enjoy career progression well into their fifties, sixties and beyond?
Here are six ways to beat ageism and make your extensive experience and mature expertise an asset.
1: Stay tech-savvy
Ageism in the workplace may be partly based on the myth that older means old-fashioned and intimidated by the new.
However, when you consider that the average age of the CEOs of Microsoft, Amazon, Nvidia and Apple is 60, it reveals such prejudice to be reductive and ignorant.
Generative AI and other emerging technologies are here to stay and evolving at breakneck speed. It will remain a perpetual challenge to senior leadership and executives of any age to keep up – but there is an abundance of material online to help.
Whatever your sector or function, you should be considering the technological or digital dimension to every strategic decision without exception. Executives who fail to adapt and continue to use old pre-genAI tried and tested methods will find themselves sidelined and left behind.
Challenge stereotypes by learning the language of AI and other frontier and digital technologies and contributing insights at team meetings, boardrooms, networking events and in written reports.
You could start with our previous blog on Seven Steps to Transformative AI Adoption.
It is worth signing up to any in-house training and devoting time every week to reading up on the latest developments in your field as well as taking advantage of free online webinars and videos.
Helpful sites include Wired magazine, Techcrunch, Apple News and Gartner.
2: Keep your skills up to date
In order to remain relevant in today’s fast-changing economic landscape, it is essential to be aware of the skills, both technical and soft, required by employers as they look to build leadership and teams capable of grasping the potential offered by new technologies and trends.
An Ivy League or Oxbridge degree and impressive CV are no longer enough to keep executives at the top of their profession and the old idea of strong leadership and hierarchical structures of authority are making way for people-focused business, approachability, compassion and inclusive environments to encourage managed risk-taking and creativity and support good mental health in the workspace.
Aside from being confident in being able to adapt quickly to change and new technologies, organisations are looking for leaders who demonstrate agility, resilience and emotional intelligence; they must be able to collaborate, communicate and delegate effectively but also be decisive.
Look at our blog on Essential Executive Skills for 2024 for a deeper understanding of the most valued skills of the moment, how to hone them and make them visible to your current or prospective employer or organisation.
3: Refresh your CV & digital profile
Whether you are looking for an executive transition or progression or want to remain relevant in your current post, regularly re-evaluating and refreshing your CV and digital profile can help you to ensure your focus and skillsets remain aligned with the changing workplace requirements.
If you are not currently looking for a new position, imagine your dream job and seek an advert for a role as close to it as possible. What are the skills required? What keywords do they use? How could you update your own resume to fit? Use terminology to demonstrate your familiarity with current industry trends and technology.
It is a good idea to include a digital skills section, showing any software, technology and AI you currently use or any relevant strategies, programmes or campaigns in which you have been involved.
Consider using a responsive design that adapts to different devices and screen sizes. This will automatically send out the message that you are aware of the importance of user experience and accessibility in the digital age.
You could use various LLMS /Generative AI such as ChatGPT or Microsoft Copilot to help with ideas on developing and updating your CV & LinkedIn Profile. Even if you do not plan to proactively market yourself for executive transition or executive outplacement in the near future, keeping both current will highlight any areas for improvement and remind you of the kind of skills and mindset you need to succeed in your current and future organisation.
4: Maintain a work ethic
There is a good reason why the UK Corporate Governance Code recommends a maximum tenure limit for a board chairman to be nine years.
Even the most proficient, experienced and skilled leaders can lose their edge or their enthusiasm if they stay in the same role for too long.
The more routine a job gets, the easier it is to fall into habits and take short cuts.
After 20, 30 or 40 years of working full time, it can be tempting to start coasting towards retirement; having longer lunches, leaving a little earlier, slowing down the pace a little.
However, ennui or lack of appetite and ambition will show itself and it can be contagious. Teams need dynamic leaders who energise, motivate and inspire. Lacklustre performances are unlikely to be rewarded with promotion or progression.
If you can afford to cut down your days to gain more of a work/life balance in your later years without losing efficacy, all power to you.
But make every minute that you are in work count and continue to grow your networks and influence. Challenge stereotypes by demonstrating that you still have the energy and passion of a 25-year-old and nobody will even consider your age a factor.
See your career as a constant journey on an upwards trajectory with unlimited scope for personal growth and development, not a hump that peaks in your 40s.
Consider a career change to suit your changing needs
Of course, if you are struggling to find any joy in work and count down the minutes until the end of the day, the days til the weekend and the weekends until your next holiday, the likelihood is, you are in the wrong job.
As we learned earlier, half of all employees in their fifties are going to lose their position in that decade, so why not pre-empt it? Seize the opportunity to reset, retrain, re-pivot and reinvigorate your career.
It might be that you have health issues or caring responsibilities that make it difficult to commute, work long days and travel for extended periods or that you have drifted from your target career trajectory.
If you have reached a senior leadership or executive level, you have a wealth of experience and skills that would be valuable in any organisation; you might just need support remembering what they are and gaining the motivation and confidence to make a change.
This is where professional career support can help. Career coaches can help you understand the changing world of work and where you might fit in it, or to gain new skills to help launch you in a different role, organisation, sector or even country.
Whether you are in a secure position or seeking work, it is never too late to look for a dramatically different role that will accommodate your changing needs or satisfy long-held but frustrated ambitions.
It can be all too easy to sleepwalk into a stale and unrewarding mid-life career; to become invisible, undervalued and underpaid or to lose sight of your youthful ambition.
But with the ageing population and over 50s fitter than ever thanks to improving healthcare and changing attitudes, middle age is just a state of mind.
Staying open to continuous learning and opportunities for personal growth and progress is key to reducing an individual’s chances of falling victim to age discrimination in the workplace. However it can happen anywhere to anyone and is far too often perpetrated by leadership from the same age group.
Everyone in the UK, the US and the EU is protected legally from ageism and can seek recourse through legal channels.
Rialto consultants can support you to revitalise or repivot your career at any age. We also run frequent complimentary online webinars on AL, Leadership, Future of Work, Portfolio Careers and other Professional Development topics.
With rising life expectancy and pension ages and a declining birth rate, the workforce is ageing gracefully.
Almost two fifths of the UK population is over 50, up from 32% in 1981, an increase of 6.8 million people. The number of over-65s is expected to surpass the under-16s across Europe this year.
Meanwhile, the lower birth rate means fewer younger people are starting work to replace the retiring bulging Baby Boomers’ generation. Unless industry catches up, the demographic timebomb will have a profound impact on society, healthcare and the economy which is why the UK government and others are encouraging employers to value and actively nurture, retain and recruit older workers.
Over 55s currently represent 25% of our workforce. Yet over-50s are far more likely to be overlooked for promotions, retraining and hiring – one in three believe they have been turned down for a job because of their age and one in five employers admit age discrimination occurs in their organisation.
As well as being illegal and risking prosecution and reputational damage, discriminating on the basis of age is a poor business strategy which could leave any organisation short on skills and with an imbalanced and unstable workforce.
Here are five ways to support older workers – and reap the rewards.
1: Offer mid-life M0Ts.
This is a pilot that has been tested by the Centre for Ageing Better with four big UK companies and it has yielded positive results.
The scheme takes a holistic look at individuals once they reach the 50 milestone.
It explores finance and pension plans, career progression, aspirations and looks at how staff can better balance work with looking after their health and their families.
The result was increased productivity, reduced absence through sickness, commitment to ongoing learning and lower attrition rates.
A fifth of older people surveyed by The Centre for Ageing Better said lack of training was a barrier to their professional development. Are employers failing to offer training or retraining to older staff because they believe it will be a waste of resources? Or that older staff no longer wish to learn or even don’t have the capacity?
In the same survey, 90% of older staff said they took training when it was offered.
Meanwhile, the US Bureau of Statistics found that 45-54-year-old employees stayed with their company twice as long as 25-34-year-olds, meaning greater ROI when investing in older staff.
Offering clear progression pathways and keeping training programmes inclusive to all ages as part of ongoing later-career support can help keep your workforce motivated and skilled in alignment with your organisation’s strategic development and growth.
2: Include age in Equality, Diversity and Inclusion training
Most firms are hot on training around race, gender and disability discrimination but age bias is the big unspoken taboo.
Training could include positive reinforcement about older workers, guidance around the law and menopause awareness.
Ensure all staff are fully aware that disparaging comments, hostility and jokes around age are as unacceptable as those around ethnicity or sexuality; create systems where such inappropriate behaviour can be safely reported and managed.
3: Create a mentoring programme
Inter-generational workforces drive greater productivity, morale, continuity and cohesiveness. Mentoring schemes help connect the generations, allow more mature and experienced staff to share their accumulated knowledge and offer trainees, interns and younger staff safe relationships in which to ask questions, test ideas and learn. They encourage younger generations to appreciate the value of their more mature colleagues and make older staff feel integral to the workplace culture and evolution. The mentor/mentee relationships can also build a sense of familial loyalty and belonging to an organisation and improve wellbeing.
4: Ensure your public face is visibly inclusive
In order to keep and attract the best talent from every age group, make sure they are all represented in written and visual communications. Keep language inclusive – avoid terms like “young” or “energetic” in job adverts. Make sure there is a broad demographic represented in any images of the company, including older men and women of all races, ethnicities and backgrounds. Ensure any potential recruit can see themself becoming part of your organisation or team.
5: Take care of workforce health and wellbeing
More than half of workers will have long-term health conditions by the time they reach 60 but this needn’t be a barrier to productivity.
Making sure they have access to programmes or groups that focus on their physical wellbeing, like lunchtime yoga or Pilates, and mental wellbeing, like meditation or mindfulness classes, could encourage a more positive relationship with work
You can keep your workforce healthier for the future by extending health services to employees of all ages. For example, being aware of ergonomic practices to prevent back pain or musculoskeletal problems and offering access to occupational health could reduce the chance of these conditions becoming chronic.
Reviewing your workplace benefits for ways to support employees’ mental, emotional, and physical health throughout their working lives could mean they enjoy a healthy, active life as they get older.
Menopause support is equally vital to help your older female workforce. Half of the population will go through the menopause, eight out of 10 during their working life. A quarter will suffer debilitating symptoms including anxiety, joint pain, hot flushes and insomnia yet three quarters say their workplace does not offer any formal support.
Too often, women suffering some of these extreme effects feel they must suffer in silence, pass over promotions, cut their working hours or leave their job. A 2023 UK survey found almost a quarter were considering quitting because work conditions had become unbearable, potentially a damaging drain of talent and experience. Companies that fail to protect the employment rights of older women suffering menopausal symptoms also leave themselves open to legal action on the grounds of gender and/or disability discrimination.
Menopause training, flexible working, cooler office spaces, wellbeing support and other health programmes can all help minimise the impact for women, remove the stigma and extend their productivity and career lifespan.
More than 2,700 UK employers have signed up to The Menopause Workplace Pledge, committing to actively provide menopause support to staff, including Tesco and NHS England.
Two thirds of employers reported a skills shortage last year, yet as we have explored here, a ready-made workforce, experienced, emotionally mature and keen to be upskilled, is available to fill those gaps.
Rialto can support employers looking to identify and fill skills shortages within their organisations and support senior employees through mid-life MoTs with personalised programmes and coaching and online seminars on subjects around leadership and new technologies.
For all the talk of mass adoption of Artificial Intelligence in business, the reality is more nuanced. Outside of the tech sector and world’s most innovative and wealthy institutions, AI-inspired disruption and revolution has been held back by skills shortages, hesitancy around organisational knowledge, workforce fears, ethical considerations, funding, regulatory, governance and compliance fears.
However, most analysts agree that 2024 will be the year that hype is translated into action: research, recruitment, investment, experimentation and integration. A recent Reuters survey of more than 4,000 professionals, primarily board level and senior leadership, found that 76% of their organisations were either using generative AI or planning to use it in the next 12 months.
Meanwhile a MIT Technology Review Insights survey of 300 global leaders published just this month found that most expect to double the purposes and functions where they deploy Generative AI in 2024, particularly in customer experience, strategic analysis and product innovation.
All the research suggests the minority that are not looking at AI solutions as a matter of organisational priority risk falling behind.
The good news is that this is the perfect window in which to benefit from being an early adopter while learning from the outliers, the earliest pioneers and developers who have paved the way for the next phase of the AI revolution.
So, how can senior leadership best collaborate to build a roadmap and supportive framework to achieve effective and safe organisational implementation of Generative AI and related frontier technologies, such as large language models, big data analytics, machine learning, robotics and natural language processing?
Here is our seven-step action plan to investigate and implement some of the core opportunities presented by rapidly advancing frontier technologies – while ensuring due diligence – to achieve maximum advantage with minimal risk, drag and organisational disruption.
Step 1: Senior leadership to collaborate, including department heads, human resources, board members and IT to build understanding around how new technologies could benefit the organisation.
The first step is to ensure you have the talent, skills and leadership to identify opportunities and risks. This may mean restructuring the board, introducing executives with appropriate expertise such as Chief Information Officer or Chief Data Officer or creating a committee to oversee an organisational review through the dual lenses of technology and change management.
Senior leadership from every function should be familiar with the primary AI tools including ChatGPT, Gemini and specialist end-to-end platforms making waves in their sector, reading blogs and articles, listening to Podcasts, speaking to colleagues and associates or being briefed by internal or external experts.
All board members and senior leaders should be able to contribute to planning and implementing AI policies and infrastructure in line with the strategic objectives of their department and beyond, and possess or train up in the skills required to drive AI-led transformation such as resilience, emotional intelligence and critical thinking.
Leadership should oversee an audit of organisational data upon which successful AI-integration depends. If you have not already got one, you may wish to consider managing in a data department to audit and integrate data-driven decision making before attempting to usher in a wave of AI-based change.
Step 2: Commission a market scope.
What are competitors doing well, doing badly – or not doing at all? Who is using what? And why? Which are actively promoting their AI credentials? Can you see their tangible benefits? Can you imagine your own organisation successfully replicating or superseding the successes while ironing out any potential issues. Look at the current market, pipeline technologies and end uses and horizon planning.
Step 3: Avoid hype by starting with your pain points and unrealised growth potential and looking for solutions.
Many companies have made the mistake of throwing money at popular headline platforms and then trying to make them fit.
Your team of experts and/or consultants should be able to make the case for every proposed investment and integration with projected ROI and other benefits such as improved customer and employee experience. Efficiency savings are only one of the potential opportunities to optimise your business. Think also about how AI and other technologies could help develop your business model and products or services, explore new markets, improve talent acquisition and management and logistics/procurement and supply chain processes.
4: Create a roadmap with actionable insights based on your thorough research and consultation.
At what speed do you want or need to move? Where do you stand to make the greatest gains? What tensions must you navigate? What are the risks and how can you minimise and mitigate them? (see below) Do you have the data to support integration and optimisation? What infrastructural, hardware and talent adjustments do you need to make?
Start with simple processes that will augment your existing operations to ensure smooth entry and employee confidence. For example, data management and analytics and automation of simple, repetitive tasks to free up employees for more meaningful work, quality assurance and monitoring and continuous, personalised employee training.
How your roadmap looks will depend on many factors including:
- Your sector. Health, customer services and marketing are among the industries and functions investing most heavily in technological investment – and expecting to see the highest growth. Logistics, public sector, education and energy companies have been more hesitant. You may find the road to successful integration better laid out if you are in a sector that is already embracing disruptive technologies – though that also means that if you are not one of those leading the way, you need to start catching up before it is too late. Conversely, those in the sectors with the lowest investment may have the hardest climb yet most to gain.
- The size of your business. The Reuters research found larger businesses were far more enthusiastic tech investors than SMEs. Effective adoption should ultimately reduce costs and improve profit margins but are you financially stable enough to justify and sustain mass investment now or would incremental changes suit your organisation better?
- Your business model. Do you have the agility, adaptability and flexibility to do things differently with technology? If not, how can you build that in?
Step 5: Explore vendor options.
While big tech vendors – including Amazon, IBM, Google and Microsoft – are responsible for some of the biggest-selling AI tools and platforms, the development of generative AI and cloud computing has spawned a plethora of smaller, niche end-to-end platforms and tools which may be more relevant and financially viable to your business. It is worth bringing together a team of expertise or contracting consultants to explore all options and create a detailed plan before committing. Experiment with smaller tools and analyse the impact before extending across different functions. You may wish to integrate an end-to-end platform, such as Salesforce, Genesys or Amazon Web Service and bolt on tools as you go, or it may be beneficial to you to work with a software/AI developer to design an in-house system based on your own unique needs and business model. Experiment with different models and tools and look out for free trials.
Depending on the size and scale of your AI-based integration, will you need data scientists and other specialists to integrate and manage your new technologies? Or can you buy in software that comes with human support to provide the expertise?
There are simple ways to immediately augment existing systems and workflows with add-on GenAI applications such as Microsoft’s Copilot which has integrated ChatGPT with its Bing Search engine to assist creative content, visual and text-based, improving productivity and inspiring innovation. Once again, training is key to ensure maximum gain from the licensable tool and minimising risks associated with all AI uses.
Research has found that many employees are using Copilot and other GENAI tools at work independently, and while their initiative is to be applauded, it is essential that organisations take the lead in putting in place company policies around use of GenAI, setting out who should and should not be using it and for what purposes, alongside training to ensure responsible and ethical usage. (See step 7)
Step 6: Open a dialogue with stakeholders.
Who needs to sign off investment and change management? Do you have investors to convince? Once you understand what you are trying to do, it is imperative that you communicate your intentions, purpose and methods very clearly to appropriate stakeholders. It is equally important to provide a safe space for honest feedback, to listen and nurture collaboration, constant adjustment and refinement.
This may only be board members, senior leadership, investors and partners at the earliest stage. However, the entire affected workforce must be brought on board before change is rolled out. Surveys show many employees are intimidated by technology and fear it will take their jobs. Before any staff are expected to work alongside AI and other new technologies, c-suite, senior leadership, team managers, human resources and internal comms need to work together to reassure, educate and train staff.
Technologies, data, analytics and machine learning are only as good as the humans piloting, feeding, analysing and monitoring them.
Step 7: Ensure ethical and regulatory guardrails are in place and test them thoroughly before going live.
Experimental technology is by its very nature high risk and fallible.
You will have heard of generative AI hallucinating – the way it creates content by predicting next words in a sentence leaving it susceptible to total fabrication (though recent reports show Google’s Gemini is now winning the accuracy race over ChatGPT). It is imperative that all output is verified by humans, for tone and potential bias as well as factual errors.
Consider also ethical issues around transparent and accountable data management, intellectual property rights, regulations laws and customs across geographical and cultural regions and borders. Many companies have set up committees or teams to monitor compliance and ethics. There are technological solutions to all these issues but, as always, they need human managers.
Of course, technology-driven transformation and related change management are a process, not an event. The platforms, tools and applications are changing day by day, as are regulations in different parts of the world. Once integrated, AI-based solutions will need constant updating and refining which is why one eye should always be kept on the horizon. Impact must constantly be measured, evaluated against KPIs and adjustments made accordingly.
There is no finish line. It’s no use being an early adopting hare if you’re caught napping as the more cautious tortoises plod past you.
Having the soft skills embedded throughout your workforce to step up to the challenge of constant change and adaptation is as important as importing or training up staff in the technical expertise needed to implement effective transformation.
AI and related technologies will continue to impact almost every function in every sector, whether through automation or augmentation. After the initial phase of instinctive fear of the new, progressive leadership is increasingly appreciating the virtuous cycle of positive transformation afforded by AI proficiency.
Rialto has a team of experts who can support individuals, teams and organisations of any size in any sector through the seven steps to successful AI investment and integration, from market research to change management and skills benchmarking, and beyond.
Contact us for additional insights related to accelerating AI adoption and/or benchmarking your firm’s readiness to adopt AI compared to peers in your industry globally.
Once upon a time, senior executives and leadership tended to work behind closed office doors. The public face of the company – chair, CEO – or appropriate spokesperson would be wheeled out only occasionally to communicate big news.
Today, visibility, transparency and influence are cornerstones of strong and effective leadership. Consumers and clients, now used to the sharing connectivity and culture ushered in by social media, want to know who they are buying from or working with. Are they aligned ethically and brand-wise with the decision makers and, in the case of consumers, individuals profiting from their hard-earned money?
Talent also wants to feel connected to leadership, to feel they know and trust the people they work for and are valued.
If you are leading a medium to large organisation, you will have your own internal and external comms teams to manage the daily output of information, working in tandem with leadership to help maintain consistency and protect and promote the brand.
Alongside and above that, executives should be thinking about ways to position themselves as thought leaders and be seen to embody the essence and ethos of the organisation. Positive visibility will enhance relations with all stakeholders, raise your profile and further the objectives of the company as well as your own career.
Here are 11 steps to communicating with purpose.
1. Identify your purpose. Take time to consider why it is that you do what you do, as an individual and as an organisation. If you want stakeholders to believe, you have to bring them on board with your vision. Sometimes, with nose constantly to the grindstone, it is easy to lose sight of your purpose. Step back and ask, what you are expecting your core audience to buy into and why?
How do you want to come across? Tesla is an interesting case in point. The cult of personality around unpredictable CEO Elon Musk would never work in a bank or insurance company which needs a safe pair of hands. But Musk’s risk-taking innovative leadership style is perfectly matched to his disruptive brand.
How does your leadership style support your purpose and how can you communicate that effectively?
2. Consider the strategic objective behind every communication. What is your key messaging? What do you want to say about your organisation and your part in it and why?
Start with the objective, or call to action, and work backwards to the content and delivery. How do you wish to position yourself? Are you the right person to deliver this message? Think carefully about the words you use around your brand – imagine a word cloud, mentally sketch in the vocabulary you would like to see with your name or company name; try to include as many of those words as you can.
Are you in crisis comms mode? How can you turn that negative attention into a positive?
Are you seeking to build bridges with staff and stakeholders? How can you open channels of communication?
Or are you proactively promoting yourself and your company? Then alignment with branding or a specific campaign should be the priority.
You don’t have to wait until you have news to impart. Events in the wider world can be a springboard for thought leadership pieces as long as they are relevant, timely and you genuinely have something to add to the conversation. Keep the contact going and your presence consistent with regular, targeted output.
3: Consider who you want to reach. Is it customers? Investors? Your workforce? External stakeholders? Is your audience domestic or multi-national? Niche or broad? Tailor your style of delivery accordingly.
One of the greatest challenges facing leadership post-pandemic is maintaining cohesion and engagement from hybrid workforces. Use different channels, both synchronous and asynchronous, to make remote staff feel included and connected. Record personal messages or stream live to celebrate milestones, praise specific teams for jobs well done and share important news.
4: Think where and how you are going to reach them. Meet your target audience in the spaces where they hang out. Gen Z and Alpha – born in the last 25 years – might be more receptive to a TikTok or YouTube video. You’ll find Millennials there but also on Instagram, Whatsapp and Twitter/X. Language and length of your message should be modified to suit without going completely native – trying to be “down with the kids” will only ever backfire.
If it’s the business community you want to influence, LinkedIn with its cautious creativity remains the most important channel.
With website blogs and insights, get help with your SEO (Search Engine Optimisation – pushing you up on keyword internet searches) to extend your reach.
If you’re looking to build strong relationships, real life meetings will always be the best way to energise and engage people directly but webinars are more accessible globally and, with the right visual aids and personalities presenting, can have a longer shelf life than a live event if they are recorded and shared via YouTube and other channels.
Podcasts are another way to grow your influence and reach new, global markets in a specific field of interest. Relatively easy and inexpensive to make, they can be carefully choreographed to appear off the cuff and accessible. They offer an excellent opportunity to cloak your branding or messaging in a wide-ranging conversational format that feels more like an experience and less like hard marketing. Audio is often accessed by people when they have time to kill, commuting, walking, waiting, and wearing headphones, making it a focused, immersive listening activity.
However you decide to get your thought leadership out there, choose a Zeitgeist subject, do your research, think how you are going to incorporate key messaging and push it on social media.
5: Don’t be sesquipedalian! (that’s a long word for overusing long words, but you probably knew that already.) Stick to plain, inclusive English (or whatever language you are communicating in) wherever possible. You want your ideas to shine, not be eclipsed by the way you express them.
If you are communicating to a closed group of individuals who are all well versed in your specific sector language, acronyms and technical terms are acceptable.
In all other instances, avoid them. If you are communicating with a broad audience, imagine you are talking or writing to an intelligent 12-year-old. That way, you will avoid being condescending or alienating people. Always use the shortest appropriate word instead of trying to dazzle with complex vocabulary. If you need to use a specific technical term, explain what it means.
6: Use humour (when appropriate). Humour is the great leveller, gets people off their guards and creates emotional connections. If you aren’t naturally gifted or confident trying to be wry or witty, borrow other people’s funny stories or jokes. It’s a good idea to run your content past someone whose judgement you trust and who won’t be afraid to give honest feedback or via a specialist team before you share. A misjudged quip can be more damaging than silence.
7: Keep it brief and memorable. Go back to steps one and two. The fewer words you can use to get your key messaging across, the more effective it will be.
8: Make it visual and lively: This applies especially if you are appealing to a younger market or have a visual product to promote. Visual learners respond to images and graphics, auditory to verbal information. If you can incorporate both, you’re spreading your net wider.
9: Conversations not monologues. When communicating with stakeholders, especially employees, ensure channels are open for two-way communication. Not only will it make people feel invested, appreciated and listened to, they may have invaluable insights to share. As a leader, you can offer them a safe space to sound them out without risk of being shot down or ignored. Respond positively to every suggestion, whether or not it is a goer, to encourage appropriate risk taking and creativity.
If you are limited to text, whether via social media or more traditional formats, ask lots of questions to fully engage your readers’ minds. On social media, use hashtags, try to get a conversation going.
10: Give something of yourself. If you feel comfortable and safe doing so, connect with your audience by sharing personal anecdotes, thoughts and feelings. For example we’ve just had International Women’s Day – the perfect opportunity to praise the women in your life, whether your mother, partner or Chief Finance Officer. Let people see that you are a human being with multiple facets who understands your customer base or workforce.
Be brave and authentic. Showing humility by revealing your own vulnerabilities or admitting to mistakes is one sure fire way of building genuine trust with your audience.
11: Listen. There is so much more to be gained from listening than from speaking. Once you have initiated a conversation, how will you measure its impact and learn from the response? Feedback is invaluable data, whether positive or negative. The more personalised your response to incoming communication, the more you will positively engage your target audience. Active listening and effective communication can turn a critic into a fan or at least neutralise any negativity.
If you provoke an unmanageable volume of responses, it’s a good sign for starters. Respond in general and use analytics to help extract insights, measure sentiment and adjust your tone or content in future communication.
Of course, every individual has a different style of communication. Finding your voice and platform can take time. Think about what you want to achieve and look at the feeds of the leaders you admire or some of the most renowned influencers such as Arianna Huffington, Bill Gates and Mark Cuban. Also look at those in your own networks at those who resonate or your admire on what they do well. See how they combine the personal with the professional while maintaining dignity and suitable distance.
Whatever your position, field of expertise or experience in communications, remember your wealth of information is an asset which is valuable to others and carries great currency. Sharing it can only open doors and build stronger relations.
At Rialto, we have a team of specialist consultants covering every area of leadership coaching, including communicating with purpose. If you need support building your profile or communication strategy, contact us on +44 (0) 20 3746 2960.
“Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.” Peter Drucker (a founding father of modern management theory)
If death and taxes are the only certainties upon which we can rely, the best we can do is consider and interrogate the likely developments of the near future and prepare our business models and personal career growth plans accordingly.
Here are some of the major themes that the Rialto team believe will influence the economy and global executive job markets in 2024.
1: Optimising AI.
If 2023 was the year that early adopters got ahead and most doubters came round to the reality that generative AI is here to disrupt every part of our lives and many occupations, 2024 will see a more mature, pragmatic and strategic integration of frontier technologies into all aspects of work automation priorities.
It is imperative that executives prioritise the need to ensure senior leadership are bringing in the talent or hiring expertise to identify the most appropriate applications and introduce them across the business as seamlessly and effectively as possible. By the end of 2024, the gulf between believers and dinosaurs will become increasingly evident. The influence of generative AI is developing exponentially. Looking back at the pace of acceleration of adoption in 2023, it is almost impossible to imagine the disruptive force it could generate over the coming 12 months.
As McKinsey succinctly stated in its recent report, “What matters most? Eight CEO priorities for 2024”, executives need to ask: “which parts of the business can benefit? how can applications be scaled from one to many? and how will new tools reshape their industry?”.
This is not just a paradigm shift, it is a revolution, with accelerated change now a constant; business models and mindsets need to adapt to be able to respond in real time to stay ahead of the competition.
Rialto can help you benchmark your personal readiness for the future of work and identify any skills gaps. We also offer a programme of live online events presented by experts in specific fields around the frontier technologies and their application in various functions and sectors.
2: Another year of economic uncertainty.
2023 proved to be a year of economic contradictions and we go into 2024 with the same equivocation. Despite all of the crosswinds which threatened to push the UK and major global markets into recession, including conflict in the Ukraine and the Middle East, double-digit inflation, record energy costs, high interest rates and the legacy of Covid driving a cost-of-living crisis, markets ended the year buoyant with the US indices reaching record highs.
With inflation falling rapidly, interest rates likely to follow later in the year, wages rising faster than prices, and promised tax cuts in the Spring, many forecasters are now predicting a grey market up to the UK national election, with stagnation rather than recession.
In the background, the risk of conflict spreading and causing energy prices to spike will continue to prompt caution among investors.
Executives and board members across most sectors will be emphasising the need for resilience, efficiency and frugality. Spending is likely to be targeted on processes, technologies and strategic priorities that will focus on savings to build up reserves and create agile business models to adapt to the fast pace of AI-driven change; leaders will look for creative, low risk ways to promote growth in an otherwise stale UK economy which continues to lag behind other G7 countries.
That could offer little in the way of relief to the lean executive job market which Rialto highlighted with exclusive data at the end of 2023. It showed a dramatic fall in publicly-advertised executive level vacancies on the year, highlighting the increasingly critical need for the most senior level job seekers to be able to access the hidden market, identify the opportunities meeting their requirements and upskill or retrain if necessary. Pivoting towards new roles created by the technological revolution could open further pathways to successful career transitions. The focus is on creating a brand and skillset which are more relevant than ever to the new market demand curve for leadership talent.
3: Elections.
2024 is a year of elections, local, national and global.
Will it be a 1992 – the year Labour leader Neil Kinnock snatched defeat from the jaws of victory after taking a tumble on Brighton beach? Or another 1997-style landslide for Keir Starmer’s more centrist Labour party? Markets are always averse to uncertainty. How might that affect the economy?
PM Rishi Sunak has indicated he will call a General Election mid=way through the year.
Will his promised tax cuts fuel increased consumer confidence and prompt a commerce-led recovery? – or spook markets concerned about further increases to record borrowing levels?
The most recent polls put Labour 19% ahead of the Conservatives which would give them the seats they need for an outright majority and a strong mandate for change.
However polls are notoriously inaccurate. Not only did they get it wrong in the last two US elections and our Brexit referendum, they can reduce turnout for the leading party from voters convinced the outcome is a foregone conclusion.
Rishi Sunak will betting on an economic turnaround as inflation and interest rates fall globally to carry him over the line but will his immigration all-in on the divisive Rwandan policy see him go bust and bring on a surprise early election?
And what will it mean if Labour do win? Starmer is keeping his cards close to his chest so little detail in his manifesto so far. He and shadow chancellor Rachel Reeves are, however, determined to prove Labour can take care of business and keep tight fiscal control with new powers for the Office of Budget Responsibility so don’t expect any big public spending contracts, though the construction industry would see a shot in the arm with a promise to build 300,000 new homes a year for five years. They have promised is to secure billions in private funding to promote growth in the regions, focusing on the green energy economy for which a massive injection of cash would follow a Labour victory. Along with AI, it’s the growth sector of the moment. Can Starmer pull a rabbit out of the hat and rejuvenate the former industrial heartlands?
In contrast, Sunak has backpedalled on renewables in a bid to put fresh air between him and Starmer, so uncertainty over related future financial and economic policies is likely to deter foreign investment at a crucial time for the sector, potentially leaving the UK too far behind to play catch up with China and the US who are going full steam ahead in the race to become the green superpower.
Whatever and whenever the result, executives seeking new positions and career transitions could do worse than to reskill and pivot towards these emerging technologies.
Business leaders also need to keep an eye on regional elections, including the London mayoral election which could have a big impact on the City, and global elections, including US Presidential elections which will have an important bearing on Western relations with the crucial Chinese market.
4: Laser-focused strategic growth.
As leaders and executives seek to navigate stormy waters at the beginning of the year, laser-focused strategic growth will be more important than ever.
Budgets remain tight, investment in new technological infrastructures will remain a priority; now is a good time to revisit and update McKinsey & Company’s 2022 10 rules for intelligent growth.
- Put competitive advantage first. Find your winning formula first then scale up.
- Make the trend your friend. Stay on top of emerging markets; recognise when the trend is waning and change.
- Don’t be a laggard. If you’re ahead, keep moving to stay ahead, no treading water. Be more Apple, less Blackberry.
- Turbocharge your core. How can you build strength into the core that will support new growth? Technology? Product development?
- Look beyond the core. Expand organically using natural connections and progression.
- Grow where you know. Optimise your local advantage, knowledge, connections etc.
- Be a local hero. Win strong loyalty and brand awareness in your locality.
- Go global if you can beat local. But be sure your product will transfer to new markets first
- Acquire programmatically. Plan organic growth alongside new ventures. Think about the emerging sectors such as AI and green technologies.
- Shrink to grow. Prune dead wood and re-seed for stronger growth,
In this time of uncertainty, it is more important than ever that all leadership teams are constantly looking for opportunities for growth and development with minimal risk, whether micro or macro, into new markets, new sectors or improving on core business performance. Entrepreneurial curiosity needs to be built in to the workforce with strong two-way communications to open opportunities for all employees to contribute ideas to optimise performance at every level.
5: Filling skills gaps.
Technology is disrupting the way we do business at all levels but we need the right people at the wheel to prevent a kamikaze ride into the future.
Generative AI and other frontier technologies are bursting with almost limitless potential but are also fraught with tensions and risks that need a human touch. The most advanced business leaders are starting to recognise that abstract skills such as empathy, curiosity and adaptability are becoming more valuable to the fast-changing, AI-led economic landscape than traditional qualifications such as superior formal education. Emotional intelligence, creativity and strategic thinking are among the skills that cannot (yet) be replaced by technology.
The UK’s education system has been slow to catch on to the need for these skills to power the country’s future economic success. Even young people graduating from universities and sixth forms now have not been prepared for this brave new world.
Senior executives need to demonstrate these skills in their own leadership but also build them into the workforce through strategic recruitment and continuous upskilling and training. HR leaders should be bringing in AI applications to analyse and meet current and future skills requirements particular to the growth strategies of the business.
6: Minding mental health.
As the New Year blows in on the back of grey skies, driving rain and warnings of another gloomy economic 12 months ahead with further job layoffs and a lingering cost-of-living crisis, maintaining a feel good factor in the workplace is a challenge facing leadership in all sectors.
According to Gallop’s State of the Global Workplace 2023 report, almost six in 10 employees considered themselves quiet quitters – psychologically disengaged from work without a sense of meaning or purpose. It claimed that active and psychological disengagement costs the global economy $8.8 trillion a year or 9% of global GDP.
By genuinely committing to caring for the wellbeing and welfare of staff, companies could potentially make huge savings with minimal outlay at a time when critical skills shortages and economic uncertainty are threatening to undermine growth in every sector.
Investment in cultivating relational intelligence, empathy and introducing mental health toolkits, evaluation and support will pay dividends. That may mean hiring consultants or using AI programs to deliver focused training, continuous assessments and easily-accessed support services.
Employees who are being made to return to the office after the homeworking of Covid times and adjust to constant technology-driven changes in their daily operations may be at risk of burnout and disillusionment. Open, two-way communication, flexibility and understanding can all help cushion employees and make them feel safe and valued.
The CIPD claims flexible working can reduce staff turnover by up to 87%.
Some companies are going further, offering sensory spaces, menopause support and introducing wearable devices to track mental health, sleep patterns and AI programmes to analyse sentiment around workplace developments. HR directors should be actively analysing workforce engagement and identifying risks to reduce attrition rates and costs and maintain a healthy workforce to boost engagement and drive performance.
On a more personal level, executives and leaders have had to take on more responsibilities and cope with more change than at any time in history. Those in position should be aware of their own stress levels and look for ways of managing competing challenges, whether by re-evaluating leadership teams to maximise opportunities for delegation of duties or building in moments of decompression, rest and mindfulness throughout the working week.
For those seeking a career transition or out of work and actively looking for a new position, share your journey with a trusted relative, friend or consultant. It is too easy to get caught in a cycle of hope and despondency as opportunities come and go. Take time to reflect on any rejections and seek advice from someone who may have a more objective perspective and be able to help turn challenges into positive development.


