Re-imagining the future of your organization during a time of uncertainty and volatility

On October 6th, in partnership with 安永 Canada, we took a closer look at what steps leaders should consider over the next 12 to 18 months, as the volatility and uncertainty in the world has continued to deflate the economic prosperity bubble of the past decade.

You’ll find our summary below of the 3 questions we asked our panel of EY experts:

Question 1: What lies ahead in the North American economy over the next 6 – 18 months?

Mauricio Zelaya, PhD highlights the following:

• Focus on customer retention and the value proposition your service/product provides
• While others are focusing on cost reduction strategies, double down and make investments for the future in order to attract broader market share
• Be aware that the labour pool is larger than it’s ever been, taking into account remote work /technology and transferable skills

Question 2: How do you leverage the power of the customer journey/experience?

Stephen Megitt highlights the following:

• Shared data is key.?Eliminate data silos - instead thread customer data throughout the entire customer journey and ensure that all the departments that touch the customer contribute to making the right customer decisions
• Be customer-centric, not just customer-focused
• Customer-focused is listening to what customers say and understanding what they currently want and need
• Customer-centric is turning shared diagnostic data into insights (foresight) and using that to invent and deliver on future needs
• Move away from diagnostic analysis and towards action and response
• Create scalable, repeatable strategies that increase the lifetime value of your customers
• Customers are always prepared to switch to your competitors unless you provide a more valuable experience, making it hard for them to leave
• Setting clear expectations is better than a gap in communications
• Address customer touch-points and their issues, not just processes. The customer only cares about a valuable experience, not your processes and operations

Question 3: How do you inspire and motivate a high-performance team in an inflationary environment when opportunities outstrip supply?

Antoine Mindjimba highlights the following:

• Be deliberate in designing culture at the behavioural level. Define what collaboration means within your organization. Identify key systemic elements to sustain an inclusive culture
• Knowledge is power. There may be resistance in “letting go” of this power by sharing data across departments. It is up to the leader to create a culture where strategy and innovation take precedence over hoarding information
• Ensure your People Manager, the custodian of your company’s culture, understands their role
• The key to being customer-centric is to be a people-centric company
• People-centric is a cultural environment in which people can realize their gifts, develop and apply their talents and feel a genuine sense of fulfillment for their contributions in pursuit of a common purpose
• One that unleashes the power of talent, working together to achieve the extraordinary
• The org chart of a people-centric company should be your customer in the middle and all of your departments, interwoven in a circle around the customer
• Be purposeful when creating your org chart. Understand what skills you need for today and tomorrow. Decide which skills you can groom in-house, which you will source externally and which you will borrow

If you’d like to learn more about this session, our upcoming 2022 Leadership Conference on November 16th and 17th, and/or PEO Leadership please feel free to reach out to [email protected]

All the best,

Leon

?

Bios of our 3 Experts

Mauricio Zelaya is a leader of EY Canada’s Economics practice that fuels their strategy and consulting practice.?Focused on the economics of innovation and industrial organization, Mauricio works closely with clients to apply economic theory to real business issues.?Mauricio will provide a general overview of the North American market and identify some potential opportunities that leaders should be considering in their overall strategic thinking.

Stephen Megitt is the Executive Strategy Director co-leading the EY Design Studio in Canada. Stephen’s practice rallies to connect users through digital solutions that speak clearly and resonate boldly with our clients. As a true people leader, Stephen has worked across human-centred design strategy, development and user experience for over 20 years. He leads large-scale, high-profile digital experience projects spanning websites, mobile applications, and enterprise software solutions for clients across all industries. Prior to joining EY in 2019, Stephen was Founder and CEO of Filament Creative Inc., now the national EY Design Studio.

Antoine Mindjimba?is a Partner in the People Advisory Services practice in Toronto and has over 15 years of consulting experience. He specializes in EDI, Culture Evolutions, Transformative Leadership and Change Management. Antoine is EY Canada National Culture, EDI and Transformative Leadership Service Offering Lead and leads the Work Force Advisory Team in Montreal. Antoine’s purpose in life is to set up environments to unleash the power in humans to achieve the extraordinary; environments where individuals feel equipped, empowered and excited about an ever-changing business world. Additionally, as a professional international ice hockey player for 22 years, he brings unique insight into motivating and developing high-potential individuals and teams.?

—————————————————————————————————————

About PEO Leadership

PEO Leadership is a Canadian peer-to-peer leadership advisory firm that has been the destination for business leaders to regularly meet and discuss important issues, solve problems and explore new opportunities since 1991. The organization provides a safe and highly confidential environment, with PEO Executive Advisors, who facilitate stimulating and astute dialogue to leverage the collective experience, creativity, intellect and wisdom of the Peer Advisory Board and the PEO Leadership Community at large. They support, cultivate and accelerate business leaders’ leadership excellence to achieve great impact through the organizations they lead, the communities they serve and the lives they live. Current members include Umbra, Miele, Crayola, ThinkOn and Nestle. For more information about the company and services, visit the site at?https://peo-leadership.com.