At different times throughout my career as an accountant there have been threats that the accountant of the future is a computer, and there will be no place for people in the finance department. With each new development in technology, these cries rise up again claiming it is “imminent” and I should start retraining now.
While it is true that technology is changing the way finance functions occurs, does it really mean the “death of the accountant”? Finally there has been a common-sense approach to this discussion with the release of the Deloitte report “The finance workforce in a digital world” (click here to read it), which acknowledges that while change is happening, it is :…not as quickly as we once thought”. There is no doubt that the technology that is coming will require new and new ways of working, but it’s still people who shape the outcome.
Looking to the future, the authors note that the key is to get the right team, that is, “align today’s finance talent to the promise of tomorrow’s technologies – while still maintaining a workforce that can fulfill all the company’s basic financial and regulatory requirements.” For the first time, I am seeing a change in the emphasis, and recognition that “… technology without talent can fail, but talent with leadership direction can overcome technology shortfalls", which is quite a shift from the previous thinking that technology would be the panacea for all things, and people would become irrelevant.
Providing some very practical advice for CFOs, the report suggests 8 actions that can blend the people and technology needs for the finance department:
Recognizing that the move to the digital world is happening slower than anticipated, there are five suggestions for CFOs who want to accelerate their readiness to operate in a digital world have a clear path forward:
This is a very important report for any CFO or executive responsible for the direction of the finance function of the organisation. It balances the needs of technology and people with a realistic assessment of where things are at, and the pace of change into the future.
I felt sick and tired of hearing all the bad news last year (remember 2020?). I’d reached saturation point and it was affecting my mental wellbeing. So, when I came across an article on the advantages of sharing good news, I was keen to explore it.
The article highlights how “constant exposure to negative news can have a heavy impact on our mental health” and how negative news stories can “significantly change an individual’s mood and mindset.”
One of the tips in the article is to use the opportunity presented by meetings as a forum for people to “stay connected to others, and good news sharing and discussion,” which can “help offset the stress and anxiety people are experiencing.”
The author of the article conducted an experiment during COVID to test the impact of good and bad news. The experiment proved leaders could boost employee morale and foster employee wellbeing with just minimal interventions. Based on this research, the author suggests leaders:
Leaders and managers who make the effort to implement strategies that encourage positive thinking are going a long way to help their team reduce anxiety and isolation.
Photograph
Photo by krakenimages on Unsplash.
Either through habit, impatience or necessity, organisations are calling their workers back into the office. For many whose roles permitted it, the work from home phase of life will soon end. The prospect of returning to the office for a regular working week is not a happy one and many are opting to negotiate a more flexible arrangement or even choosing to find employment elsewhere.
The speed with which organisations sent workers home and workers settled into a rhythm there seemed miraculous. Many people saw this as an opportunity and embraced it but others, who battled for space with children, flatmates or pets, not so much. An interesting study by McKinsey & Co found:
People reported they enjoyed being liberated from long commutes and had much more flexibility and balance in their lives. In the article “Death of the office,” Catherine Nixey notes prior to COVID-19 workers in offices often felt more unhealthy, experienced social inequality, had long wasted travel times, and experienced indifference to their individuality. In another article, Adam Bryant writes that since COVID-19 senior executives report enjoying flexible schedules because they give them time to reconnect with their spouses and children and a healthier lifestyle with more exercise.
But is there still a place for the office? With the introduction of a COVID-19 vaccine the risk of infection will be dramatically reduced and many people may want to return to the office. Nixey notes coming into the office allows us to put on a different persona from that of our life at home, potentially giving us more meaning and fulfillment. The office also provides social capital through the “chemistry of the unexpected” where those unplanned moments of collaboration occur at the water cooler or in the staff kitchen and where relationships with co-workers are developed.
The challenge for organisations is whether to insist everyone returns to the office or to allow flexibility. Both McKinsey and Bryant warn if organisations do not allow some degree of flexibility, they may find employees seeking organisations that do and thereby risk losing experienced and productive workers. Allowing flexibility will greatly increase the potential talent pool by removing the geographic restriction of having to live close enough to travel to the office every day. But organisations will also have to find ways to measure the effectiveness of employees by how much value they add rather than how many hours they work.
To state the obvious, we are now operating in different times and organisations have an opportunity to reset and reconstruct how they view the place of work. There is no one size fits all approach and organisations are going to have to offer some degree of choice to employees if they want to attract and retain top talent. No doubt we will eventually find a new equilibrium, but we can never go back to how it was—the people have tasted freedom and want more.
Photograph
Photo by Magnet.me on Unsplash.
Psychological Safety at work: Why you need it and how to foster it
Imagine coming to a work environment where you felt empowered to use your voice and unashamed of your own humanity. Empowered to challenge ideas, to voice your concerns, to ‘have a go’ and take reasonable risks, and to make genuine mistakes, all without fear of punishment or embarrassment for doing so. These are the characteristics of a psychologically safe workplace.
If I was to suggest one single concept as the undervalued secret to organizational success, it would be psychological safety. Not just another employee well-being fad, psychological safety has a real impact on your organization’s bottom line:
The research results are not surprising really. If you think about it, if people feel safe expressing themselves, there is more open dialogue, meaning ideas are honestly explored and improved upon. People will voice ideas they may otherwise have kept to themselves, and are able to try new things without being afraid to fail. Without the ability to try and fail, some potentially creative and useful concepts would never come to life.
Sounds good yes, but how do we get this psychological safety? There are some general concepts that will support the fostering of a psychologically safe environment (This article, along with the Gallup report will provide a more in-depth discussion if you want to read it):
Unfortunately it doesn’t happen overnight, but as leadership remains open and trust is built among individuals and teams on a daily basis, the environment you build will be so worth it.
Welcome to Semester 1, 2021!
As I write this I can hear the sound of students exiting class and traipsing through the Business Building foyer – a sound I have greatly missed over the summer break! It is with much excitement, and some trepidation, that students commence their studies for Semester 1 of 2021. There is the swagger of the returning students, and the cautious first year students who will daily encounter something new about being a Business student at Avondale over the course of their first few weeks of semester. And then there is the thrill of being back in the classroom for us as lecturers, the disjointed sleeps that come with the anticipation of teaching classes again, the hoarse voice as the body builds back up its strength to administer the classroom environment.
There are the joys of returning to classes as students catch up with friends they haven’t seen in just over 3 months, the sadness of leaving family and friends at home. The enjoyment of being back in the dorms where things are happening seemingly 24/7, the reuniting of learning with assessment and needing to refamiliarize oneself with the library, the stress of being financial and the ease of meal availability in the cafeteria.
It has been enjoyable for me as a lecturer to see just how involved our Business students have been in events on campus. From social basketball competitions during the orientation activities, to seeing our students facilitate walking tours for the new cohort of students, from working with the cleaning crew, to helping out with PULSE and enjoying the coming together of students and staff on a Wednesday here on campus. We have a community again on campus and a vibrancy to this beautiful, green, tree surrounded estate. But most of it, it is nice to be reminded that we are back for business in 2021!
“If Christian leadership development separates itself from secular theory at any point, it is at the cross of Christ. Leadership development without the crucifixion of Self is not Christian.” (p. 11) Such is the contention of author David McKenna who strongly advocates that to be a Christian leader in the model of Christ, we must be prepared to die to self and totally empty ourselves of self, to be filled with Christ.
His book Christ-Centered Leadership: The Incarnational Difference (2013, Cascade Books) is one of the best books I have read on leadership and challenged everything I thought I knew. McKenna is a very experienced Christian leader, theologian and educator who has written extensively in many areas, including leadership, Biblical commentaries, and the lighter side of life.
Using Scripture extensively, especially in relation to the example of Christ, numerous other literature sources, and his broad experience over many years in leadership he confronts leaders with the idea that there is much more to being a Christian leader than they may have thought. Statements like the following are very challenging and confrontational:
“We are ready and willing to be servants, but we do everything we can to divert the call to sacrifice.” (p. 26)
“Our only call is to be faithful to the mind of Christ and give God the glory for anything we accomplish as leaders. Recognition, rewards, and results belong to the Father.” (p. 70)
“Ultimate trust is to be faithful to the call of God without any guarantee of results, recognition, or rewards.” (p. 78)
“Christ-centered leaders will be models of integrity trusted by others, mentors with wisdom given to others, and mediators for reconciliation on behalf of others.” (p. 83)
“Vision is always one of the highest priorities in the job descriptions for Christian leaders, but the clarity of the vision depends upon freedom from the distractions of sin. To see clearly, we need to die completely.” (P. 97)
“When a Christian leader is obeying the will of God, suffering is part of the package, but not without a sense of peace and a song of praise. It is this joy that gives a Christian leader quiet confidence under stress, criticism, and misunderstanding. Rather than be frenzied by circumstance, trust in the Lord keeps us on course, resolute, calm and upbeat.” (p. 98)
After setting the scene and tone, the book traces the development of leadership theory, noting the positive move away from self-interest toward a servant and sacrificial approach. It is very well organised in a succinct format, and is easy to follow and not too lengthy.
I quickly felt very intimate with the author, as if he were speaking directly to me. As such, while I feel this book is suitable for all leaders, it is especially so for those who are comfortable with their leadership, as this will challenge your foundations and potentially take your leadership to a whole different level of effectiveness. Read it only if you are courageous enough.
If one learns to leads like Jesus, from His example, then one will change the world like the disciples did within 60 years of His death. Such is the compelling argument of Karl Martin (Theologian, Pastor of “Central” in Edinburgh and founder of Cairn, a movement of mission and discipleship in the Celtic nations) in his book LEAD (2017, Muddy Pearl).
The book is based on The Words of Jesus from John chapters 13-21, as well as the personal experience and research of the author. The author uses a simply methodology in the construct of the book from the Gospel of John, chapters 13-21, along with interpretation, example and focus and then using the chapters to ensure you follow his logic. Within the chapters are paragraphs that you can read on their own slowly to ingest the information without getting lost in the hyperbole
Martin argues that the current world’s leadership focus is considered and then discarded as lacking depth, tiring you out and focused on outcomes that are about social climbing or corporate climbing without vapid emptiness. Since the book leads you on a personal reflective narrative, the argument is really you on the journey discovering if the author’s thoughts and arguments are persuasive and influential. Personally, I thought they were.
The book is well organized, with a clear path from start to finish of its 9 chapters. You’re unable to skip chapters as you’d miss the information that was pertinent to the starting premise and thus misunderstand the eventual conclusion. However, the argument and conclusion allow you to know what is coming and where the author is headed but wanting to know why.
It should appeal to Christians who are leaders AND who are not leaders and think they never will be. It is thought provoking, soul addressing and ultimately satisfying.
Reviewed by Pastor Terry Johnson,
President of the Greater Sydney Conference of Seventh-day Adventists.
Avondale Business School has partnered with the Christian Education and Research Centre (CERC) at Avondale University College, by providing a chapter in the upcoming book entitled “Revealing Jesus in the Learning Environment: Making a World of Difference” to be launched early February 2021. The chapter discusses research output from both surveys and interviews regarding what employers’ expectations were for students who had undertaken a degree at a Christian higher education provider.
So there are no “spoiler alerts”, we won’t reveal results now, but hope people will read the book in its entirety not just our Chapter 11. This research was done with the help of a student who applied for a summer scholarship. This scholarship encouraged the student to learn from and work with current academic staff, to research, collate and analyse data in preparation for the book chapter. It is also helpful to the student to have co-written a book chapter for future employment purposes 😊
The book can be purchased online at Avondale or directly via Amazon, see the links below:
Avondale: https://avondaleaustralia.spiffystores.com/collections/avondale-academic-press
The Avondale Business School is proud to announce that 2 graduates from 2020 have now secured full-time positions at the Sanitarium Health Food Company in Berkeley Vale, NSW. One student is an Accounting graduate, who intends to complete his formal post graduate Accounting qualification and the other has been employed in the Human Resources department. Both students are very proud to have been employed by such a well-recognized organization.
Our relationship at Avondale has always been positive with Sanitarium, with their staff on various Boards here at Avondale such as College Council, External Advisory Boards and various round table discussion forums. Sanitarium has also supported Avondale by providing guest lecturers to our business students, on the use of technology in food manufacturing for example, as well as sponsoring awards for our student’s academic achievements.
But like any relationship, it has to be reciprocated. Here at Avondale we have a Sanitarium staff member currently undertaking a Master of Philosophy qualification, supervised by two Avondale Business School staff members. This student has been studying on a part-time basis for over two years at Avondale, and has now collected all data, and is on track to submit the thesis in 2021. Prior to COVID-19 restrictions, our staff would meet with the student at Sanitarium in Berkeley Vale, which also gave us an opportunity to liaise with staff, as well as current and past students whilst on site.
Like all business partnerships, the Avondale/Sanitarium partnership works due to it’s reciprocating nature. Another example of this will be in 2021, when another 2 students will undertake their internships at Sanitarium in semester 1. These internships give the students a taste of the real world, particularly in manufacturing, and is a great way for Sanitarium to assess their suitability for future employment. Another bonus is that we get to write about the importance of business engagement in our newsletter! If you need further information on the Sanitarium Food Company, just click
on the link https://www.sanitarium.com.au/, or if you would like to link with Avondale Business School, just contact us at [email protected].
You may be the kind of person who dives head-first into business articles, or you may be like everyone else: just give me the one-minute recap. Well, when it comes to predicting (or at least intelligently guessing) how your spending, travelling, and working ideas may unfold this year, we’ve summarised the dot points and the details for you.
The January 2021 report from McKinsey and Company, The next normal arrives: Trends that will define 2021—and beyond (read it here), is quick to read, but packed with useful ideas that capture what business leaders and consumers need to be aware of as they respond to the changing business environment.
Here are a few of the key points, but it is well worth taking a few minutes to read the report in full:
Whether you’re a business leader, a professional in your own field, or have an interest in the macro and micro consequences of COVID-19, I’m sure these points have provided some food for thought.
Photograph
Standsome Worklifestyle on Unsplash.
[x_callout type="left" title="Want to dive deeper into business?" message="Studying an MBA at Avondale allows you to explore the professional world, learn theory and practice in business settings and develop your own ethos through a Christian framework. Work-placed focused with no exams. " button_text="LEARN MORE" href="https://www.avondale.edu.au/mba" target="blank" class="x-btn-yellow"]
