120 Posts found for Source: Deloitte Review

While most business leaders now believe having a diverse and inclusive culture is critical to performance, they don’t always know how to achieve that goal. Here are eight powerful truths that can help turn aspirations into reality.

Content: Article | Authors: Bernadette Dillon, Juliet Bourke | Source: Deloitte Review | Subjects: Diversity, Human Resources, Organizational Behavior

Cognitive technologies and business process reengineering could be a match made in heaven, but only if organizations do the work to redesign their processes with cognitive technologies’ specific capabilities in mind.

Content: Article | Author: Thomas H. Davenport | Source: Deloitte Review | Subjects: IT / Technology / E-Business, Management, Process

Managing organizational culture, often a challenge, is getting even harder with the rise of the alternative workforce. How can leaders bring independent contractors, telecommuters, and gig workers into their organization’s culture when so many of the traditional levers don’t apply?

Content: Article | Authors: Karen Reid, Kelly Monahan | Source: Deloitte Review | Subjects: Culture, Organizational Behavior

What can digital dating teach us about long-term customer loyalty?

Editor’s Note: I thought the online dating angle was a bit of a stretch and not so useful, but there is actually a lot of god content for marketers and for understanding and thinking about customers in this article.

Content: Article | Authors: Rodney R. Sides, Stacy Kemp, Susan K. Hogan | Source: Deloitte Review | Subjects: Customer Related, Marketing / Sales

Research shows that most large change management efforts fail. Why? Something’s been left out of the equation: the human element. Organizations can draw on new behavioral economics lessons to powerfully connect change to human behavior—and keep employees engaged in the process.

Content: Article | Authors: Kelly Monahan, Timothy Murphy | Source: Deloitte Review | Subject: Change Management

What happens when a company achieves the summit? Is there nowhere to go but down? Superior performance, research shows, is neither quite as fragile nor robust as many believe—rather, it’s an attainable albeit slippery plateau. The key is to focus on profitability rather than revenue growth or value creation.

Content: Article | Author: Derek Pankratz | Source: Deloitte Review | Subjects: Best Practices, Management

It’s common sense that people routinely make irrational decisions—“misbehave”—yet economics models stubbornly assume that everyone is perfectly rational. Behavioral-economics pioneer and Nobel prize winner Richard Thaler explains the divide between Econs and Humans, and the role of “choice architecture” in enabling long-term goals.

Content: Thought Leader | Authors: Jim Guszcza, Richard H. Thaler | Source: Deloitte Review | Subject: Economics

People may be the heart of our organizations, but HR practices are often based on outdated ideas of human psychology and organizational design. When it comes to hiring decisions, employee motivation, and helping workers make better choices, behavioral insights and evidence-based practices can drive a new generation of HR strategies.

Content: Article | Authors: Jeff Schwartz, Jim Guszcza | Source: Deloitte Review | Subject: Human Resources

We demand that leaders be decisive, but research in social psychology and behavioral economics suggests that decisiveness is not an unequivocal good. Studies on “mindset” reveal that, when contemplating an important decision, prematurely focusing on execution can exacerbate decision-making biases and lead to overconfidence and excessive risk-taking.

Content: Article | Author: Derek Pankratz | Source: Deloitte Review | Subjects: Decision Making, Management, Organizational Behavior, Personal Development

What happens when a company achieves the summit? Is there nowhere to go but down? Superior performance, research shows, is neither quite as fragile nor robust as many believe—rather, it’s an attainable albeit slippery plateau. The key is to focus on profitability rather than revenue growth or value creation.

Editor’s Note: This is already a bit of an old article (early 2016) but the concept and … [ Read more ]

Content: Article | Author: Derek Pankratz | Source: Deloitte Review | Subjects: Best Practices, Management

Cognitive technologies, a product of the field of artificial intelligence, can and will be used to eliminate jobs. But leaders face choices about how to apply cognitive technologies. These decisions will determine whether workers are marginalized or empowered, and whether their organizations are creating value or merely cutting costs.

Content: Article | Authors: David Schatsky, Jeff Schwartz | Source: Deloitte Review | Subject: IT / Technology / E-Business

Some changes enabled by the Internet of Things will be incremental, while others will be transformative. Yet the need to capture value remains as acute as ever. The established principles of strategic differentiation, process flow, and network economics will go a long way toward revealing a path to long-term success.

Content: Article | Author: Mark Cotteleer | Source: Deloitte Review | Subjects: IT / Technology / E-Business, Strategy

Much research shows that pay is a “hygiene factor,” not an “engagement factor.” In other words, in most cases if compensation is not high enough, people will leave—but increasing compensation does not directly increase engagement (with certain exceptions).

Content: Quotation | Author: Josh Bersin | Source: Deloitte Review | Subjects: Compensation, Human Resources, Motivation

The employee-work contract has changed, compelling business leaders to build organizations that engage employees as sensitive, passionate, creative contributors. Two years of research and discussions with hundreds of clients suggest five major elements and underlying strategies that work together to make organizations “irresistible.”

Content: Article | Author: Josh Bersin | Source: Deloitte Review | Subjects: Human Resources, Management, Organizational Behavior

When it comes to corporate financial performance, we typically think in absolute terms, measuring ROA in percentage points. We are less accustomed to thinking of corporate performance in relative terms, but knowing a company’s relative performance is essential to setting and achieving performance improvement targets and, eventually, exceptional performance.

Content: Article | Authors: Michael E. Raynor, Mumtaz Ahmed, Rob Del Vicario | Source: Deloitte Review | Subjects: Best Practices, Finance, Management

The “Internet of Things” (IoT) is often described as a collection of connected sensors, but it is actually a much more complex concept. It involves not only the connection and integration of devices that monitor the physical world—temperature, pressure, altitude, motion, proximity to something else, biometrics, sound, images, and so forth—but also the aggregation, relationship, and analysis of the information those devices create in order … [ Read more ]

Content: Article | Authors: John Lucker, Thomas H. Davenport | Source: Deloitte Review | Subjects: IT / Technology / E-Business, Trends / Analysis

Management’s job is not to manage work but rather to develop, coach, and help people. Rewarding managers only for making their numbers incentivizes what we call “talent hoarding:” attracting the best people and holding onto them for years. To help people get the coaching and support they need to grow, forward-thinking companies reward managers for what we call “talent production:” developing people who leave their … [ Read more ]

Content: Quotation | Author: Josh Bersin | Source: Deloitte Review | Subject: Management

A … key engagement driver is the need for continuous and ongoing recognition. As soft as it seems, saying “thank you” is an extraordinary tool to building an engaged team. We studied this topic and found that “high-recognition companies” have 31 percent lower voluntary turnover than companies with poor recognition cultures. These companies build a culture of recognition through social reward systems (tools that give … [ Read more ]

Content: Quotation | Author: Josh Bersin | Source: Deloitte Review | Subjects: Human Resources, Management, Organizational Behavior

Calculating a company’s relative performance … is not straightforward, and for at least two reasons. First, we wish to capture the performance of the company that is a function of those factors most subject to the company’s control. When it comes to assessing a company’s historical performance, we typically wish to separate out the material impact that year, industry, and company size have on profitability. … [ Read more ]

Content: Quotation | Authors: Michael E. Raynor, Mumtaz Ahmed, Rob Del Vicario | Source: Deloitte Review | Subjects: Finance, Management

We have an assumption in our society about how markets automatically distribute things optimally. But Adam Smith himself said that it’s the social interactions interacting with the market that cause equitable distribution. In his view, the invisible hand suggests that the exchanges between people establish the norms that divide market opportunity. So it is the social exchanges that are the main actor, not the market.

In … [ Read more ]

Content: Quotation | Author: Sandy Pentland | Source: Deloitte Review | Subjects: Capitalism, Economics