I recently posted on LinkedIn an article relating to the outsourcing of innovation, how large corporates were joining up with entrepreneurs and startups in the fashion, cosmetics and lifestyle sectors to form a 'supply chain of innovation'; and what opportunities and threats this type of relationship pose to an entrepreneur and SME from an agility and independence perspective.
For as long as I can remember, arguments about outsourcing have played a part in the US election cycle. In the final stages of the presidential election the two candidates will make promises they can’t keep and declarations about how bad outsourcing is for the American economy.
It has already happened. Digital technology has taken over. When it comes to global sourcing, job opportunities, branding, company cultures, it is all transparent. Job-seekers can see straight through you and your company before they walk through the door and shake your hand.
What will be the most important drivers of change in the global sourcing arena over the next decade, and why?
As a seasoned professional with over 25 years in the business, I possess demonstrable experience and expertise, and a professionalism which, when I recently found myself obliged to seek a new role, I expected to see mirrored in the hiring process: I believed the recruitment road to discovery to be a meticulous process underpinned by a rigorous, tried-and-tested methodology where there is due consideration for the predicament (which could, of course, feel like quite a belittling one) the candidate faces.
Staff turnover costs companies a shocking £4.13billion per year. Hiring the right people can make or break an organisation, and save thousands in turnover costs. Dishonest employees are the silent threat from within organisations, and they are a small but highly impactful group. Worryingly, 30% of businesses fail due to employee theft and the cost of employee fraud to UK businesses is thought to amount to £2bn per annum.
With subsectors as diversified as aerospace and defense, chemicals manufacturing and construction materials, the industrial segment of the economy doesn’t look and behave as a single sector. It is, however, in a state of transition across the board and industrial companies are making deals left and right to prepare for the future. Whether buying, selling or sharing another business entity, these transactions can promise accelerated growth, preservation of the core business or access to new markets.
It’s the first thing millennials see in the morning, the last thing they look at before going to bed, and their constant companion throughout the day. It’s their phone. The younger generation's dependency on mobile is driven by the considerable role technology plays in our everyday lives. With the touch of a button, these young men and women can do anything from ordering a car or depositing a check to sharing photos, videos and stories with friends and the public at large.
Recent research by the UK’s Tech Partnership into the views and opinions of 1,600 employers across the UK concluded that economic growth is being put at risk due to skills gaps in the tech workforce. Employers reported significant problems in recruitment, with 42% of those recruiting tech specialists saying that they were constrained by ‘hard to fill’ vacancies. Yet, the picture is not universally bleak. The majority of UK universities offer computer science degrees and we are seeing a raft of new technology-focused courses coming on stream.