And just like that, it’s nearly the new year! With a few weeks left in 2018, you still have time to achieve the professional goals you set earlier in the year. Squeeze in some last-minute training by registering for a webinar, join us as a presenter at a regional SIGnature Event or Global Executive Summit, or consider becoming a contributor to Future of Sourcing Digital.
This webinar will focus on best practices for creating and executing a business case for a Procure-to-Pay (P2P) transformation.
Utilizing a case study that highlights the “flight plan” of Curtiss-Wright, a manufacturer that traces its origins back to the Wright Brothers, webinar attendees will learn how the company transformed its P2P process to arrive at a more strategic destination after discovering imbalanced resource allocation that led to procurement resources spending 80 percent of their time on just 5 percent of the total spend.
Looking to control and optimize your services spend more effectively? Join this webinar with Coupa for a deep dive into a comprehensive solution that includes advanced services and contingent workers.
You’ll learn how the right technology can streamline your services procurement process and see firsthand how the right solution can enable you to drive more adoption, accelerate your time to value and reduce costs.
Register for your virtual seat now. Can't join at the date and time listed? You can still register to get the on-demand recording!
“Fake it ‘til you make it.” This unattributed idiom (with a nod to Aristotle) is oft-used advice to people early in their careers. But how wise is it to follow? How many people have résumés that truly portray their strengths vs. a laundry list of what they want you to believe about their abilities? How confident would any shareholder be if they believed the CEO got to the top by faking their skills rather than building them? But more importantly, is it a person’s skills that give you confidence in their leadership abilities?
If you think about the last person who truly inspired you, was it their title…or the last three companies where they worked that piqued your interest? Was it their ability to run a shareholders’ meeting, analyze volumes of data and manage their exceedingly crowded schedule that excited you? Doubt it. When you think of someone who is truly motivational, you are usually moved by the things that don’t make it on to the résumé: their heart, integrity, authenticity and ability to enroll others in their beliefs and passions. It’s not because of their title.
It’s About Mindset
Too often, CEOs have the mindset that what has gotten them here will get them there. If they have successfully led profitable companies, why would they have any reason to believe they need to evolve? When things aren’t working, it doesn’t take much convincing that something has to change. But when they are…CEOs often don’t understand the need. They have the pedigree and the track record – and past accomplishments are a good indicator of future success – so why fix what isn’t broken?
November: the last month of autumn, but the beginning of a new adventure; time to take risks and do the unexpected.
Can you believe it? November is here! And with it comes the start of the holiday season and all the festivities that come with it. Whether this month is one you love or dread, it is a time for new adventures, and those can take shape in many different forms. Create an adventure at work this month by attending a networking event, listening to success stories of industry innovators and learning the latest trends in an online webinar. Here are highlights of the adventures that await you this month from SIG.
Regional Networking Events
This month, we have regional networking events in four different cities: Toronto, Denver, Columbus and New York. Take a day for yourself and/or your team to collaborate in person with industry peers and learn best practices. Discussion topics vary for each event so be sure to look on our website for the most up to date agendas.
I’m proud to say the feedback from delegates on the Fall Global Executive Summit is some of the best I’ve received for any Summit yet. The beautiful Omni Rancho Las Palmas Resort & Spa was the perfect destination to engage with our cutting-edge keynote panelists, along with hands-on learning in how-to labs, breakout sessions and outdoor networking with a breathtaking view of the mountains. But what excited me the most at this Summit was the inaugural Future of Sourcing Awards, where we recognized individuals and teams who are making a transformative impact on the industry.
Future of Sourcing Awards
The energy at the Future of Sourcing Awards was electric! It was inspiring to be in the presence of both the titans who have helped shape the industry, the leaders who are taking sourcing and procurement to the next level, along with the up-and-coming talent that is our future.
It was my extreme pleasure to present SIG’s original founder, Barry Wiegler, with the Lifetime Achievement Award. Barry gave a moving speech and was even surprised by his daughter and grandson who flew in for the special occasion. There was barely a dry eye in the room.
Does this statement sound familiar: “We’re cutting budgets and unfortunately we need to reduce spend on professional development.” The balance of my professional career has and continues to be focused on helping teams improve productivity, longevity and deliver the right results. For more than 12 years people leaders have told me that their biggest obstacles to training their teams are that they don’t have enough time and dollars. Is this merely a symptom of a bigger challenge? Why is it that seemingly every time budgets are cut, a line item under the microscope is professional development?
In my experience, two primary reasons exist for cuts to professional development budgets. The first reason is that companies are fearful that if they invest in their employees through professional development, they will leave and go to the competition or somewhere else. Secondly, it has been historically difficult for advocates of professional development to demonstrate a return on investment (ROI).
Recent findings from a survey of chief procurement officers by Deloitte and research on professional development shed some light on those myths and support a business case for investing in your people and training them to be the best they can be.
“If we invest in professional development, people will take those skills and go somewhere else…”
Perhaps. The truth is that people will come and go at every organization; this is a reality that will always be the case. No company will ever experience 100% retention of their people. Besides, is that really what you want? The point is, worrying that you will somehow have a mass exodus of top talent as a result of investing in their professional development is unfounded.
2018 is already shaping up to be a busy year for SIG and we don't anticipate slowing down. In fact, we're accelerating!
SIG INNOVATION ACCELERATOR
SIG recently announced the launch of the SIG Innovation Accelerator (SIA), which offers a portfolio of services to help develop and improve the innovation pipeline for Source through Supply Chain (SSC) and related functions.
The SIA was created to help SIG’s buy-side companies--and ultimately other Fortune 500/Global 1000 companies--capitalize on their combined knowledge, experiences and buying power to facilitate innovation and improve profits while simultaneously reducing risk for both buy-side companies and product providers.
Becoming an SIA Colleague is the first way for a provider to participate in and benefit from SIA’s services. Benefits of becoming an SIA Colleague include:
Eligibility to nominate a product for review and consideration for SIA’s Acceleration Program
Opportunities for product focus groups with procurement executives to get feedback on product and marketing/sales strategies
Discounts for online certification programs or courses offered by SIG University
A Leadership Council comprised of approximately 24 CPOs and select other executives from SIG’s buy-side member companies will lead SIA's initiatives. All of SIG’s buy-side members are eligible to participate in various SIA activities and benefit from its services. SIA is managed and staffed by SIG and Creatze, which is led by SIG’s founder and former CEO Barry Wiegler.
As we move further into arguably one of the worst hurricane seasons in history, our minds and hearts become even more focused on those who were affected by some of the most recent hurricanes. Each news outlet has been sharing the accounts of ordinary people performing heroic acts to save the lives of their neighbors and even strangers. In times of natural disasters, we often find our humanity and the need to reach out a hand to those in desperate need.
I wonder what happens when tragedy is not raining down? Where is the humanity? I would suggest that it is ever present if we choose to look for it. Humanity is shown in the small acts of kindness such as when a stranger goes out of their way to help someone with their luggage, or when a wallet is found and returned in complete condition.
Gandhi stated, “You must not lose faith in humanity. Humanity is like an ocean; if a few drops of the ocean are dirty, the ocean does not become dirty.”
In business, leaders must be the humanity, providing servant leadership to our teams as they struggle through the daily work challenges. We must remember that our role as leaders is likened to that of a silent hero, focused on helping others in a time of need and without personal recognition.
Here are five things you can do right now to add humanity into your work culture:
Mark Pollack, Vice President, SIG University and Chief Strategy Officer, SIG
Think of a great workplace. What sets it apart from the rest?
Nearly 70 percent of employees globally agree that happiness at work is the best ingredient for a unique work experience, according to a new JLL study on the human experience in corporate workplaces. In a survey of more than 7,000 employees in 12 countries, JLL found that the “human experience” means far more than work-life balance concerns, but encompasses how empowered, engaged and fulfilled employees feel in the workplace.
Savvy C-suite executives today see a direct correlation between a productive workplace and a healthy balance sheet. Despite advances in workplace technology and increasing levels of automation in corporate real estate management itself, the facilities and workplace are ultimately about the people they house. Organizations ignore this reality at their peril.
From a real estate perspective, companies need to think about whether their real estate offers the right locations, technology and design to inspire the best from their employees. In an era of rapid business change and stiff competition for talent, creating memorable, engaging workplace experiences is more important than ever for organizational success.
JLL’s new research, Workplace Powered by Human Experience, looks at how the workplace experience and a focus on people can help businesses thrive in the new world of work. The key takeaway? Three priorities drive the human experience in today’s workplace: engagement, empowerment and fulfillment.
Engagement comes first
Ed Nolan, Managing Director, Workplace Strategy, JLL
There is a story where a retiring home builder was asked to build a final home. He was known for building wonderful homes with every detail precise, and his boss wanted one last house constructed before his retirement. The builder was very reluctant and agreed despairingly.
The builder did not take his time with the home, the materials were not his usual top quality and his work was sloppy. He was tired, and it showed. At the end of the construction, the boss handed the builder the keys and said, “After all your years of service, I wanted to give you this home.”
In life, we are the home and we must make choices on how we want it constructed. One of the choices many people make is to go back to school to learn a new trade or enhance their skills. Working professionals must weigh the options and determine the best learning opportunity for them. I have worked with adult learners for over 12 years and have compiled five things adults should consider:
1. Learning platform/accessibility 2. Curriculum/content 3. Customer service 4. Continued education 5. Recommendations
The learning platform is the methodology of how the information is transferred from the educator to the student. Adult learners must potentially juggle obligations with work, family, social responsibilities and personal leisure, which could get in the way of knowledge transfer. Educators today are focusing efforts on building comprehensive online learning platforms that support the working adult learner. I would look for online education opportunities, but make sure that they have a thorough onboarding process where they provide the tools for a successful learning experience.
Mark Pollack, Vice President, SIG University and Chief Strategy Officer, SIG
It is increasingly difficult, with jam-packed workdays and busy personal lives, to dedicate time to growing our skill sets. More and more, we are turning to online training or "e-learning." With time at a premium, it is critical that once we do dedicate the time to e-learning, that we gain the most we can from the experience. You can't just click through and hope to magically improve your knowledge and skills. I mean if you are going to take the time and effort to enroll, shouldn’t you engage and maximize your experience?
In my career working with adult learners and technology platforms I have noted a few characteristics that separate the high-achieving student from the just-clicked-through-every-slide student. I'll share a few best practices here.
Guy Hanna, Leadership and Higher Education, PhD (ABD)