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Recognizing the reality that trying to control climate change will require massive financial resources. “In the context of today’s headlines regarding climate change and the consequent nightmare scenarios resulting from global warming, sustainability essentially translates to the planet earth’s ability to sustain human life as we know it today, and tomorrow. Why is this a hot-button issue for the world?” Read more at: https://tribune.net.ph/index.php/2019/10/30/sustainability-today-tomorrow/

High levels of economic disparities are present around the globe, and the health and trajectory of local economies differ greatly from place to place. With the age of automation, this can affect countries in vastly different ways. Automation is a global phenomenon and has an undeniable effect across a range of industries. CEOs and companies around the globe are advised to learn more about these technological changes and how it can affect a range of investment decisions and their companies. Taking into consideration beyond the shareholder value and setting long-term goals/value creation. Especially, with such high levels of economic disparity at play, long term implications on talent pools, operations, investments and customers are highly dependent on the actions companies and local economies take next. Read full article: https://www.mckinsey.com/featured-insights/future-of-work/automation-and-economic-disparity-a-new-challenge-for-ceos?cid=other-eml-alt-mip-mck&hlkid=d2f432fb294448b4881fbb6a22854ce5&hctky=9897597&hdpid=8b350fd2-cdd1-44e1-ba6a-f89fcd379d4b

Organizations are starting to recognize the importance of cyber security in their business practices. A number of organizations have reported experiencing cyber attacks. Cyber attacks leave companies, their documents, and systems, vulnerable. Executive boards aren’t the only ones recognizing the pressing matter of cyber security. Many shareholders, customers, and media have recognized the importance of good cyber security and use it as a basis for determining their level of confidence. Cyber Security and in general, technology bring in a new set of opportunities and risks for companies. It is surprising to see that many companies have yet to flesh-out or even start cyber security initiatives. These companies must recognize this as a pressing matter that must be discussed in line with Environment, Social, and Corporate Governance. Read full article: https://www.business2community.com/cybersecurity/cyber-security-a-matter-of-good-corporate-governance-good-ethics-and-quite-simply-good-business-02200227

Due to the job market expanding and increase in competitiveness of prospective employees, unemployment is seeing record lows over the past few years. Companies are finding it hard to compensate employees, making it difficult to keep them loyal to the company or attract them in the first place. Survey (2019 Global Human Capital Trends) shows that only about 33% of companies felt ready to address this situation. In the past, compensation and rewards revolved around one thing: money. People look for jobs to get money so the simple solution would be to give them more. This was true back then, however, more employees are looking for more than a big paycheck. Surveys show that a major factor in job satisfaction isn’t money, but instead is the value they perceive and the appreciation they feel from the management. Value translates to the nature of the work and the opportunities they can get from it. They want to feel that they can learn from their job, secure promotions in the company, and have an impact beyond their workspace. Appreciation on the other hand, would stem from management’s attitude towards their employees. Simply put, an extra zero in their paychecks does not feel gratifying for today’s employees and would not be an adequate reward. Companies need to adapt to the changing environment and find creative ways to reward employees to keep their loyalty and attract prospective employees, they need to distinguish themselves from those who simply offer a decent commission, and emphasize benefits they provide which tell employees and prospects: “this is why you should work for us, this is what we can give you.” As cash rewards aren’t memorable enough and money feels mundane. It’s more memorable and exciting for employees to get non-cash rewards and be able to talk about it with co-workers. These could be anything from extra vacation days, monthly membership to a local gym, or a new phone. Sometimes, a simple thank you from the management is all they need to feel distinguished and recognized. It motivates them and studies show that it leads to increased work proficiency. A handwritten personalized note that comes with the paycheck alone can go a long way in making employees feel more appreciated. Human Resources should be at the forefront of developing new ways of compensation. They must be a channel for communication between employees and management so that they know what reward would be valuable and what management can actually give. They should be knowledgeable on all legal parameters around giving proper compensation and provide fair metrics to measure work performance. Benefits need to be equitable for them to be effective. Money is no longer the main driving force of employees. It is important that they feel appreciated in the workplace and that the work they do has actual value. Companies need to adapt so that they can continue to attract high value employees and keep a coherent and talented team. Read Full Article https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2019/rewards-employees-want-most.html

The 21st century has brought on many changes in the corporate world. It is easy to see the advent of technology affecting the work and board space, as seen in the new ways of compiling documents, taking minutes, or simply having a video conference. However, more important than the surface level technologies is the rise of new business strategies and governance strategies that encourage innovation. In the past, ‘Corporate Governance’ was a centralized and hierarchical structure. The company focused on their internals and looked at external matters as stuff ‘outside’ of company affairs. Priority was given to the main shareholders of the company. Orders and the direction of the company came from the top down. This limits innovation and communication with stakeholders. The paper advocates a ‘platform’ based company structure and for a board to adopt ‘platform’ governance instead of corporate governance. A company that operates under a platform connects groups of people, information, and its stakeholders more effectively. If traditional company is hierarchical and operates from the top-down, a platform-based company operates on a flat structure where the input of all stakeholders are valued. Stakeholders aren’t just limited to employees or managerial staff. Platforms connect a wide web of producers, consumers, manufacturers, and distributors, to one another. All of them are stakeholders which would have varying levels of access to the company. Read Full Article https://link.springer.com/article/10.1007/s40804-019-00137-z