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Two in five CEOs would rather quit than lead a large-scale workforce transformation

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Senior executives divided on attitudes to risk and organizational change, finds research by Orgvue 

35% of CEOs believe a lack of shared vision among senior decision makers is the biggest barrier to achieving a successful transformation

60% of senior decision makers think decisions about workforce transformation are driven by human emotion rather than rational analysis

LONDON and NEW YORK, Nov. 21, 2024 /PRNewswire/ — Orgvue, the organizational design and planning software platform, today published research findings on C-suite attitudes to workplace transformation. Surveying 700 senior decision makers of organizations with more than 1,000 employees, the research found that two in five (38 percent) CEOs would rather quit than lead a large-scale workforce transformation project.

As pressure in the modern business environment intensifies, C-suite leaders see event-based transformation as a blunt instrument for cutting costs. 60 percent believe decisions about workforce transformation are driven by human emotion rather than rational analysis and 61 percent said they don’t give enough thought to planning transformation projects.

The research shows that cost take-out remains a top concern for C-Suite leaders. 63 percent of say cost cutting is the primary motive behind their transformation and 74 percent are willing to go through transformation for this reason. Additionally, 64 percent of CEOs would rather conduct layoffs than miss earnings targets.

As part of the study, Orgvue identified two different cohorts of CEO with opposing views on transformation. Conservative CEOs are change-sensitive and represent the two in five that would rather quit than go through transformation. Only 29 percent of these CEOs are willing to lead major restructuring initiatives for their organization, and only 25 percent are willing to dismantle traditional hierarchies and management tiers to optimize workforce efficiencies.

Conversely, Agile CEOs are change-agnostic and are likely to embrace workforce transformation. 97 percent of these CEOs say they’re willing to lead major restructuring projects for their organization. They also say they’re willing to take a continuous approach to organizational change, rather than disruptive, timebound project approach.

Oliver Shaw, CEO of Orgvue, said: 

“Our research suggests that transformation fatigue has the C-suite in its grip. We think this is for two reasons: only 23% of transformation projects succeed; and many organizations are forced into crisis-response or event-based transformations.

“Organizations are taking the wrong approach to transformation, creating anxiety around these large, arduous, risky projects that invariably don’t return the cost savings they promise. Encouragingly, the research shows there’s a cohort of CEOs that see transformation in a different way and they’re more willing to lead major restructuring programs as a result. They see transformation as a continuous, iterative process that takes the pain out of organizational change and makes it more sustainable.”

About the research
Orgvue commissioned Coleman Parkes to conduct the research, which surveyed 700 C-suite and senior decision makers at organizations with more than 500 employees in Australia and Singapore and more than 1,000 employees in the UK and US. There were 400 respondents from the US, 200 from the UK, and 50 each from Australia and Singapore.

About Orgvue
Orgvue is an organizational design and planning platform that empowers your business to transform its workforce by understanding the work people do and the skills they have. Our platform connects strategy to structure, providing clarity of vision, so you can build a more adaptable, better performing organization that thrives in a constantly changing world of work.

The world’s largest and best-known enterprises and consulting firms use Orgvue to visualize and model the current and future states of the organization and make faster, more informed decisions. The company is headquartered in London, with offices in Philadelphia, The Hague, Toronto, and Sydney.

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SOURCE Orgvue

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Global Gen Z Views on Beijing: A Journey Through the City’s Culture, Innovation, and Ecology

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BEIJING, Nov. 23, 2024 /PRNewswire/ — On November 22, 2024, the “Global Gen Z Views on Beijing” event organized by China Daily New Media Center and 21st Century Media and Education officially launched. The event will spotlight three key themes: Beijing’s cultural legacy, technological innovation, and environmental conservation.

During the event, over 20 international influencers will visit notable sites including the Capital Museum and the Zhoukoudian Site Museum to explore the Beijing’s rich history. They will also visit Beijing’s leading tech enterprises and innovation hubs to experience the city’s technological advancements. Additionally, the influencers will visit iconic locations such as the Yanqing Ecological Civilization Exhibition and the Beijing Wild Duck Lake National Wetland Park, gaining a firsthand perspective on the integration of environmental conservation and industrial development in the city.

Through dynamic and youthful storytelling, the event aims to showcase Beijing’s rich cultural heritage and its achievements in sustainable, high-quality development to audiences worldwide. During the first day of the event, Veronica, an Italian exchange student at Tsinghua University, expressed her excitement, saying, “I am delighted to be part of this event. My deep interest in Chinese culture brought me to China for my studies, and I have gained a lot from this experience.”

This event serves not only as a cultural exploration but also as a key platform for sharing Beijing’s historical and modern development with audiences worldwide. Through the influencers’ firsthand experiences, Beijing’s rich cultural heritage and contemporary achievements will be vividly showcased to worldwide audiences. This event offers an international stage for Beijing to highlight its unique appeal, while promoting cultural exchange and fostering global understanding.

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SOURCE China Daily

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China Telecom Gulf Officially Launches in Saudi Arabia for Business

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HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company(STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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SOURCE China Telecom Global

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China set to narrow digital divide

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BEIJING, Nov. 23, 2024 /PRNewswire/ — A news report from chinadaily.com.cn:

Representatives discuss hot topics faced by countries in digitalization

China’s forward-looking vision on the future development of the internet offers a glimpse into how cooperation can narrow the digital divide across the world, at a time when an economic slowdown and impeded globalization have stunted growth worldwide, said government officials and industry experts on Friday.

They made the remarks at the 2024 World Internet Conference Wuzhen Summit that ended in Wuzhen, Zhejiang province on Friday.

They also sought more global cooperation to advance the development of the internet in less-developed economies and enhance digital competence for all.

Ren Xianliang, secretary-general of the WIC, said at a news conference, “More efforts should be made to help make the internet a new frontier for all parties to cooperate and continue to create more convergence of interests, growth points of cooperation and new highlights of win-win scenarios in cyberspace.”

“All parties around the world are expected to join hands to build a cyber world where human beings coexist, jointly create a digital future of win-win cooperation and make cyberspace better for all peoples of the world,” he said.

More than 1,800 representatives from governments, international organizations, industry associations, internet enterprises, universities and think tanks from over 130 countries and regions attended this year’s summit, addressing some of the hottest topics faced by countries in digitalization.

Teo Nie Ching, deputy minister of communications of Malaysia, said at the conference that digital transformation is not solely about technological advancement, but also a reflection of human values and actions.

“As technology progresses, we must uphold a core principle of people-centered and holistic development to ensure that technological applications truly serve the common good and promote share to the progress,” Teo said.

A United Nations report found that 2.6 billion individuals globally still lack internet access and a sharp digital divide can also be observed among economies, among industries and between urban and rural areas.

Although many less technologically advanced regions, such as Africa, possess a strong willingness to build an inclusive and equitable digital world, the rapid advancement of technologies often poses a huge challenge to developing countries — how to actively participate and keep pace with this growth, said Nii Narku Quaynor, chairman of Ghana Dot Com.

Against this backdrop, reinforcing open access to internet channels, digital content and technologies can greatly benefit emerging economies in the digital world, he said.

Eyeing a higher-level of inclusiveness, connectivity and cooperation in the internet sector, a statement on global digital cooperation was released by a sub-forum of the WIC.

The statement highlighted the importance of advancing international cooperation on data exchange, enhancing cross-border data connectivity, and narrowing gaps in data circulation, as well as more initiatives to build an open and mutually beneficial international framework for data collaboration.

Intensified efforts should also be made to deepen international exchanges on technology standards, ethical guidelines and legal frameworks, advancing a widely accepted global AI governance system, said the statement.

It also called for human-centered and ethically sound approaches to cutting-edge technologies such as AI, encouraging safe, reliable, fair and transparent research and development as well as applications of AI.

At the opening ceremony of WIC, Chinese Vice-Premier Ding Xuexiang also stressed the need for the international community to jointly deal with problems such as the digital divide and a grave cybersecurity situation to build a better digital future.

The digital divide continues to widen, and the situation of cybersecurity has become more severe, Ding said, adding that the international community is in greater need than ever of jointly advancing a community with a shared future in cyberspace.

China has been sharing the opportunities of modernization with countries around the world and injecting strong impetus into global modernization, Ding said.

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SOURCE chinadaily.com.cn

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