Monthly Archives - October 2020

To Recognize Risks Earlier, Invest in Analytics

To Recognize Risks Earlier, Invest in Analytics You’ve probably heard business leaders justify their flat-footedness in a crisis by claiming that every organization is flying blind in times of deep uncertainty. But in fact some leaders know precisely where they’re going. They understand what’s required to chart a course through market turbulence, and they’ve built organizations with keen situational awareness. When it comes to developing the ability to figure out where things are heading and respond nimbly to a changing environment, [...]

Read more...

Building Organizational Resilience

Building Organizational Resilience Successful organizations all have well-established routines for getting things done. The task may be as lofty as acquiring a competitor or as prosaic as filling out a time sheet, but if you look closely, you’ll find a reliable process to guide you through it. These routines are often taken for granted in stable periods. However, they tend to break down when a company faces high levels of uncertainty or needs to move quickly in a crisis. Organizations [...]

Read more...

How to Overcome Your Fear of Making Mistakes

How to Overcome Your Fear of Making Mistakes The Covid-19 crisis and its fallout — including recession, layoffs, and uneven economic pain — as well as recent protests over police brutality and demands for racial justice have presented many of us with challenges that we’ve not encountered before. The high-stakes and unfamiliar nature of these situations have left many people feeling fearful of missteps. No one can reduce mistakes to zero, but you can learn to harness your drive to [...]

Read more...

An Agile Approach to Budgeting for Uncertain Times

An Agile Approach to Budgeting for Uncertain Times 2020 has been particularly chaotic, but let’s face it, even in typical times most planning and budgeting processes are frustrating. They start five or six months early with promises of visionary transformations that quickly give way to tedious templates, endless financial forecasts, haggling over targets, and battling for resources. Companies have an opportunity to make a clean break this year, with the pandemic requiring a more agile approach. We have seen three things [...]

Read more...

How to Create a Workplace that Actually Inspires Passion

How to Create a Workplace that Actually Inspires Passion Passion provides powerful motivation for learning, yet our 2017 survey of U.S. workers found just 13% of all employees exhibiting the type of passion in their work environments that helps them truly improve in their professions. How do we create learning environments that inspire passion — and how do we scale them to work in even the largest institutions? At the Deloitte Center for the Edge we have identified three attributes of [...]

Read more...

How to Play to Your Strengths

How to Play to Your Strengths Most feedback accentuates the negative. During formal employee evaluations, discussions invariably focus on “opportunities for improvement,” even if the overall evaluation is laudatory. Informally, the sting of criticism lasts longer than the balm of praise. Multiple studies have shown that people pay keen attention to negative information. For example, when asked to recall important emotional events, people remember four negative memories for every positive one. No wonder most executives give and receive performance reviews [...]

Read more...

What Really Makes Us Resilient?

Eleven years ago my friend Sally was diagnosed with ALS, also known as Lou Gehrig’s disease, the degenerative motor-neuron disease which gradually renders you unable to move, to eat, to talk, and in the end to breathe. She had just turned 40, two kids, happily married to a prince of a guy, so much to look forward to, for all of them. And then this horrible suffering. This “very slow car crash” was her husband’s description and I can’t [...]

Read more...