Magazine article Financial Management (UK)

CIMA CEO Columm 'Organisations Will Have to Be Open, Agile, Innovative, Collaborative, Automated and Digitised'

Magazine article Financial Management (UK)

CIMA CEO Columm 'Organisations Will Have to Be Open, Agile, Innovative, Collaborative, Automated and Digitised'

Article excerpt

Regular FM readers will know that CIMA's recent research has focused on employment trends - and on how we can ensure that our members and students are fully equipped to meet the business needs of today and tomorrow. Earlier this year the institute decided to extend this theme and examine how talent and innovation might be harnessed more effectively in the future.

The findings of this study have been published in a CGMA report entitled "New ways of working: managing the open workforce". It concludes that a quiet but rapid revolution is occurring in the way that high-flyers and ideas are developed - and warns employers that they must establish radical new systems and frameworks to address this in order to avoid the pitfalls and reap the rewards.

What do we mean by the "open workforce"? From in-depth interviews with leading business figures and a survey of more than 1,000 senior executives, our researchers have found that organisations are increasingly managing talent and resources comprising a complex mix of in-house teams, freelancers, contractors and external business partners. More than a quarter of the organisations in the survey reported that external talent constituted half of their workforce. There are strong signs that the trend will strengthen in the next five years.

This is where the musical analogy comes in. The report concludes that, as organisations depend more on the open workforce, they will need to work in a similar way to an orchestra, where a mixed collection of individuals with specific skills is united into a single harmonious unit. Organisations will have to be open, agile, innovative, collaborative, automated and digitised. But the report argues that many are struggling to achieve this state - and it's time for chartered global management accountants to start calling the tune. …

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