Here’s what you need to know about the Global Risk Report on Business
You might have already read the Global Risks Report by the World Economic Forum (WEF) that was published last month. The 80-page long document compiles risks to global business. These risks may not be what you think them to be. A marketing mind might jump to Google’s policy or new neuromarketing findings, or you may think of innovation, NPD, and electrification. Maybe you’re into supply chain, and you think of government policies connected to logistics or the Uber-fication of things..But it’s not.
Global Risks of 2018
WEF differentiates the risks into categories: economic, technological, environmental, geo-political, and societal. We have to zoom out, before we zoom in. For this year the highest risks are environmental mayhem and digital crime. What happens when a storm or hurricane ruins your business’ distribution centre? What happens when your local economy is disrupted or devastated by natural disaster? Even if the playing field of your business is 100% online, what happens when your Internet exchange is targeted by cyber criminals? Could you and would you be able to handle that?
In order to not succumb to these risks, measures can be taken. But, what about threats that linger continuously under the surface? What about the threats that aren’t picked up by WEF? Let’s zoom in on Western society and business. There’s another major risk at play here: it’s loss of engagement. And, this is not just a Millennial Itch thing, it’s more extensive than that.
My friends at Gallup (2017) found that 67% of the global workforce is disengaged with their job. Deloitte (2015) found that on average disengagement costs federal organisations $65 billion a year. Nevermind the costs, but think about productivity: how can a company move forward with an unproductive and unmotivated workforce? Axero’s Tim Eisenhauer found that disengaged employees negatively affect teamwork and company culture. As an innovative company we, at Fronteer, have embraced Holacracy which has had a major impact on our engagement and culture.
We’ve developed a People Circle through Holacracy. The sole purpose of the team in this circle is -you guessed it- the happiness of Our People. Why do we find this important enough to dedicate a team to it? Because with the happiness of Our People comes engagement and trust. With happiness comes responsibility, with responsibility comes productivity. With productivity comes growth, with growth comes success. Finally, with success comes happiness: we’re full circle.
As Gaby Jeuken, Our People Lead & Expert Connector says:
“Human behaviour and ‘the art of work’ have always been subjects that are of great interest to me. I therefore feel very enthusiastic heading Our People team. The purpose of our team is to make and keep our people happy. The main focus of our company this year is growth; our team will get bigger and so will our workplace. At Fronteer, we are very proud of our strong culture and fun and ambitious team – and in these times of growth; those are the things we explicitly will take care of and relish as part of our strategy this year.”
Want to learn more about making your business bulletproof? Get in touch!