Search Results for: Gen Z

Want sustainable buildings? Invest strategically in smart technology

Want sustainable buildings? Invest strategically in smart technology

Strategic investment, innovative technology, and collaboration are essential for achieving sustainable buildingsStrategic investment, innovative technology, and collaboration are essential for achieving sustainability and value goals in the real estate sector, according to a new report from Colliers. The  report Realising ESG Performance: The Value-Driven Transformation of Europe’s Built Environment [registration] claims to provide insights into how the real estate industry can embrace sustainable buildings and comply with regulatory demands while creating long-term value. (more…)

Employers need to be proactive to address problem of sexual harassment at work

Employers need to be proactive to address problem of sexual harassment at work

In today's evolving workplace landscape, the issue of sexual harassment at work and the work-related environment remains a pressing concernIn today’s evolving workplace landscape, the issue of sexual harassment at work and the work-related environment remains a pressing concern for employers and employees alike. Recent surveys have shed light on the pervasive nature of this problem, revealing that a significant portion of workers continue to experience sexual harassment at work not only from colleagues, but also from third parties such as suppliers, customers and patients. As new legislation approaches, it’s imperative for employers to take reasonable anticipatory steps to prevent sexual harassment at workplace to improve workplace culture, the organisation from expensive and damaging claims and its workforce from such abhorrent conduct. (more…)

Reactions to the UK’s new Employment Rights Bill

Reactions to the UK’s new Employment Rights Bill

Details of the UK's new Employment Rights Bill were released yesterday. The legislation represents what the government claims is a significant overhaul of workers' rights, offering more protections and benefits and helping to promote practices like flexible workingDetails of the UK’s new Employment Rights Bill were released yesterday. The legislation represents what the government claims is a significant overhaul of workers’ rights, offering more protections and benefits and helping to promote practices like flexible working. Key elements of the bill include granting workers access to statutory sick pay and parental leave from the first day of employment, and introducing a ban on exploitative zero-hour contracts. It also aims to curb controversial “fire and rehire” practices and gives employees the right to claim unfair dismissal from day one, rather than after two years of service. However, businesses will still be allowed to operate probationary periods to ensure fit for roles, with discussions suggesting a maximum of six months. (more…)

Striking the delicate balance of AI regulation and innovation

Striking the delicate balance of AI regulation and innovation

As AI continues to advance, navigating the balance between regulation and innovation will have a huge impact on how successful the technology can beAs AI continues to advance, navigating the balance between regulation and innovation will have a huge impact on how successful the technology can be. The EU AI Act came into force this summer, which is a move in the right direction towards classifying AI risk. At the same time, the Labour government has set out its intention to focus on the role of technology and innovation as key drivers for the UK economy. For example, planning to create a Regulatory Innovation Office that will support regulators to update existing regulation more quickly, as technology advances. (more…)

Two students just proved that Meta’s new smart glasses are not rose-tinted

Two students just proved that Meta’s new smart glasses are not rose-tinted

By combining smart glasses with AI and face recognition software, two students have exposed something troublingBe honest, did you smirk a little when everyone was posting their ‘legal’ message to Instagram? You probably saw it doing the rounds, after all it was one of the most viral trends ever posted on the app. Stories were flooded with a message reading “Goodbye Meta Al. Please note an attorney has advised us to put this on, failure to do so may result in legal consequences. As Meta is now a public entity all members must post a similar statement. If you do not post at least once it will be assumed you are okay with them using your information and photos. I do not give Meta or anyone else permission to use any of my personal data, profile information or photos”. (more…)

Accessible and inclusive design should be a priority for the property market

Accessible and inclusive design should be a priority for the property market

The joint report, Inclusive Spaces and Places: A collaborative approach to inclusive design, highlights the urgent need for inclusive design in the built environmentGrosvenor and The Crown Estate have launched a new report that aims to shed light on the challenges faced by people with physical and hidden disabilities when accessing and working within buildings and public spaces across the UK. The joint report, Inclusive Spaces and Places: A collaborative approach to inclusive design, highlights the urgent need for inclusive design in the built environment, emphasising the barriers that prevent millions from fully engaging with public and commercial spaces as well as the potential societal and economic losses this results in. (more…)

Nearly two thirds of people say they couldn’t make it through a work day without looking at their phone

Nearly two thirds of people say they couldn’t make it through a work day without looking at their phone

A new poll from instantprint claims only around a third (39 percent) of respondents think they could make it through the day without looking at their phone.A new poll from instantprint claims only around a third (39 percent) of respondents think they could make it through the day without looking at their phone. This means nearly two in five workers think they could stay focused and avoid their phones entirely, which is an impressive display of self-discipline in an era where we are constantly connected. According to the survey , one-third of respondents (33.33 percent) said they check their phones every time a notification appears, whether it’s a message, social media alert, or app update. (more…)

Finger on the pulse: Is biometrics the future of workplace wellbeing?

Finger on the pulse: Is biometrics the future of workplace wellbeing?

For architects and designers, the trend to use wearable devices to track wellbeing in the workplace is a giftAround a third of companies already use wearables to track their team’s activity and better gauge their physical, mental and emotional wellbeing, according to Deloitte’s 2024 Global Human Capital Trends Report. Deloitte predicts that usage will increase to two thirds by 2027. Neurotechnology, which uses electronics to read brain activity and can contextualise employee behaviour and interactions, is also anticipated to ramp up dramatically in use in that timeframe, from 3 percent to 31 percent. (more…)

Small businesses are aware of benefits of using AI, but don’t know where to start

Small businesses are aware of benefits of using AI, but don’t know where to start

According to a new poll from hiring platform Indeed, around a third of small businesses are scared to implement AI, despite acknowledging the many apparent benefits of doing soAccording to a new poll from hiring platform Indeed, around a third of small businesses are scared to implement AI, despite acknowledging the many apparent benefits of doing so.  According to Indeed’s survey of 1,000 business leaders at British small businesses, 41 percent of small firms want to integrate the technology into their business, but don’t know where to start. This paralysis means that small businesses – which make up  over 99 percent of the nation’s total businesses – are missing out on improvements to costs, efficiency and overall work satisfaction that they themselves say it can bring about, the report argues. (more…)

The future of procurement: navigating a digital and strategic evolution

The future of procurement: navigating a digital and strategic evolution

In recent years, procurement has transformed from a back-office function to a strategic driver of business valueIn recent years, procurement has transformed from a back-office function to a strategic driver of business value. As global supply chains become more complex and businesses strive for greater efficiency, sustainability, and agility, the future of procurement is set to change even more dramatically. Technological innovations, data-driven insights, and a shift in priorities are reshaping the way organizations manage their sourcing, purchasing, and supplier relationships.

This article explores the future of procurement, focusing on the trends, technologies, and strategies that will define this critical business function in the coming years.

 

 

 

 

  1. The Rise of Digital Procurement

One of the most significant trends shaping the future of procurement is digital transformation. Traditional procurement processes, which were often manual and time-consuming, are being replaced by automated, digital solutions. Technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA) are streamlining procurement workflows, enhancing transparency, and improving decision-making.

Artificial Intelligence (AI) and process orchestration are transforming procurement by streamlining complex tasks and improving overall efficiency. As highlighted in Tonkean’s blog, AI can eliminate time-consuming manual work like managing approvals, chasing stakeholders, and navigating complex systems. The use of AI-powered orchestration allows procurement teams to unify systems, automate routine tasks, and facilitate collaboration. This leads to faster cycle times, better process adoption, and more time for high-value strategic work, ultimately positioning procurement as a key business partner.

 

Key Areas of Digital Transformation:

– Automation of Routine Tasks: Tasks like purchase order creation, invoice processing, and supplier matching can now be fully automated, allowing procurement professionals to focus on more strategic initiatives.

– AI-Driven Insights: AI can analyze vast amounts of data to identify trends, predict demand, and assess risks, enabling more informed decision-making.

Impact:

The adoption of digital technologies will lead to faster procurement cycles, reduced errors, and significant cost savings. Procurement professionals will need to adapt to new tools and skills, such as data analytics and AI-powered decision-making, to remain competitive.

 

  1. Data-Driven Decision-Making

Data is becoming the new currency in procurement. With the vast amount of data now available through various channels—supplier data, market trends, and performance analytics—procurement teams have the opportunity to make more strategic decisions. Advanced analytics tools are enabling organizations to turn raw data into actionable insights, optimizing procurement strategies for cost reduction, risk management, and supplier performance.

How Data Impacts Procurement:

– Supplier Relationship Management: Data analytics can help procurement teams evaluate supplier performance, identify key areas of improvement, and foster stronger, more collaborative relationships.

– Risk Mitigation: Predictive analytics can forecast potential supply chain disruptions, allowing organizations to proactively manage risks such as supplier bankruptcies, geopolitical instability, or natural disasters.

– Cost Optimization: By analyzing purchasing patterns and market trends, procurement professionals can negotiate better contracts, reduce maverick spending, and ensure cost savings across the board.

Impact:

The ability to harness and analyze data will be critical for the future of procurement. Organizations that leverage data to drive decisions will be able to build more resilient and cost-efficient supply chains.

 

  1. Sustainability and Ethical Sourcing

As consumers, investors, and regulators increasingly prioritize sustainability, procurement teams must align with corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. This shift means that procurement will play a central role in ensuring that businesses source goods and services from environmentally and ethically responsible suppliers.

Key Areas of Focus:

– Sustainable Sourcing: Procurement teams will need to ensure that suppliers adhere to environmentally friendly practices, such as reducing carbon emissions and minimizing waste.

– Ethical Labor Practices: Ensuring that suppliers comply with labor laws, prevent human rights abuses, and foster fair working conditions will become a priority.

– Circular Economy: Procurement will increasingly focus on sourcing products that can be recycled, reused, or repurposed, contributing to a more circular economy.

Impact:

Sustainability will no longer be optional for procurement teams. To remain competitive and compliant, procurement professionals must prioritize ethical and sustainable practices in their sourcing strategies.

 

  1. Supplier Collaboration and Innovation

In the future, procurement will shift from a transactional function to one that focuses on collaboration and innovation. Instead of simply managing suppliers, procurement teams will work more closely with them to co-create value and drive innovation. This shift will require a new approach to supplier relationships, one that emphasizes trust, transparency, and mutual benefit.

Key Changes:

– Supplier Collaboration: Rather than viewing suppliers as vendors, procurement teams will treat them as partners in innovation. This collaboration can lead to the development of new products, improved processes, and shared efficiencies.

– Long-Term Relationships: Procurement will focus on building long-term, strategic partnerships with suppliers, ensuring that both parties can innovate and grow together.

– Innovation Hubs: Some organizations may establish innovation hubs or programs where procurement teams and suppliers collaborate on research and development, bringing cutting-edge products and services to market faster.

Impact:

Collaboration with suppliers will become a competitive advantage, enabling organizations to innovate, adapt to market changes, and deliver more value to customers.

 

  1. The Strategic Role of Procurement

As procurement evolves, its role within the organization will become more strategic. Instead of being seen as a cost-saving function, procurement will increasingly contribute to business growth, innovation, and resilience. This shift will require procurement professionals to develop new skills and capabilities, such as strategic thinking, cross-functional collaboration, and leadership.

Key Areas for Strategic Focus:

– Procurement as a Value Creator: Procurement will move beyond cost-cutting to create value through innovation, risk management, and sustainability.

– Cross-Functional Collaboration: Procurement teams will work more closely with other departments, such as R&D, marketing, and finance, to align procurement strategies with broader business objectives.

– Leadership and Influence: Procurement leaders will need to influence key stakeholders and contribute to strategic decision-making at the executive level.

Impact:

The strategic elevation of procurement will lead to greater influence within organizations, enabling procurement professionals to drive business success through innovation, resilience, and sustainability.

 

 Conclusion

The future of procurement is one of transformation and opportunity. As digital technologies, data-driven decision-making, sustainability, and supplier collaboration reshape the procurement landscape, professionals in this field will need to adapt and embrace new skills and strategies. By doing so, they will not only optimize procurement processes but also contribute to the long-term success of their organizations.

Procurement is no longer just about sourcing the best deal—it’s about building resilient, ethical, and innovative supply chains that drive business

The science and art of change management

The science and art of change management

 

change management, like potentially most professional roles, is actually split into two halves with one being science and the other being artWith all the talk about generative AI, the impact it will have on people, businesses and industries, I started to think what will be the impact on change management and particularly the role of a change professional? And I realised that change management, like potentially most professional roles, is actually split into two halves with one being science and the other being art. The science element is made up of the products that one can typically see/point to, like a change plan, stakeholder map, training plan, etc.  Whereas the art element is made up of what you can see as well, but only if you take the time to observe and notice the impact it has on environments, people, productivity, retention rates, etc. because it involves the people side of change. (more…)

You get what you give at the CoreNet Global Summit 2024 in Berlin

You get what you give at the CoreNet Global Summit 2024 in Berlin

CoreNet truly embraced its theme of ‘People Power’, emphasising the vital but often overlooked aspect of workplace strategy: connectionHave you ever attended a conference and been asked to gaze deeply into a stranger’s eyes for several minutes, standing just a metre apart in silence? No? Neither have I – until this September at the CoreNet Global Summit in Berlin. Gone are the days of handshakes and small talk. Today, it’s all about relationality, empathy, and hugging it out. For some, the summit’s emphasis on fostering human connections was a joyful opportunity to bond and share meaningful moments with fellow professionals. For others, it felt like being trapped in a never-ending therapy session nobody signed up for. (more…)