Industry news

Organisations are too trusting of Managed Service Providers, according to new research. Just four-in-ten believe they need to make sure Managed Service Providers are certified in providing cyber security essentials, while one-third agreed personnel of providers should undergo security checks before taking on such work.

Managed services is the practice of outsourcing the responsibility for maintaining, and anticipating need for, a range of processes and functions, ostensibly for the purpose of improved operations and reduced budgetary expenditures through the reduction of directly-employed staff. To that end, Managed Service Providers (MSPs) can help business stay flexible when it comes to resources, and can accommodate swift changes which an in-house team might not be able to respond to efficiently.

But as with any outsourcing practice, MSPs also come with a host of risks, which have been exacerbated by the pandemic. As the Covid-19 outbreak opened even more avenues for fraudsters to commit financial crimes, 64% of UK companies admitted they had experienced fraud or economic crime since 2020 – and when pointing to external sources of such incidents, 20% said they had been hit by outsourced suppliers, such as MSPs

Read more on Consultancy UK here.

Companies are more active than ever in pursuing sustainability to align with values and engage stakeholders, a new survey shows. To see financial returns, though, integrating sustainability into core functions is key.

s environmental, social, and governance issues have become ever more important influencers of customer and employee expectations, organizations have tightened their embrace of the sustainability programs that address those issues. According to the latest McKinsey Global Survey on the topic,1 companies are increasingly formalizing the way they govern sustainability programs, as well as elevating the importance of diversity and inclusion.2 And a larger share of respondents than ever before say the top reason for implementing a sustainability agenda is better alignment between an organization’s practices and its goals, missions, or values.

Read more on McKinsey here.

Even a great idea or mission can be crippled by design that doesn’t put people first. Why should human considerations—such as their needs, wants, and dreams—only come into the conversation later? By centering empathy and understanding in design research, companies can both reduce risk in the idea-generating stage and ensure people are at the heart of the process, write senior partners Ewan Duncan and Kevin Neher. These needs also include the needs of the planet, society, and what matters to us as human beings. Explore our insights to learn more about human-centric design, including how to balance designing for individuals versus everyone, why first-hand research can change the game, and why it’s important to innovate for the needs of future people too.

Read more on McKinsey & Company here.

Visibility on risk is vital if businesses are to avoid making costly blind decisions, says Chonchol Gupta CEO of risk analytics firm Rebirth Analytics

Suppliers are often in the dark over multiple factors affecting procurement, production, and provenance. You might have trusted relationships with your long-term suppliers but they might not enjoy a similar relationship with their own suppliers, who could well be withholding key information.

Or it might be that neither buyer nor supplier is aware of the impact that political, economic, or even weather risks, will have on their ability to deliver the goods. 

Read more on SupplyChain here.

In the aftermath of the pandemic, healthcare workers are still feeling overwhelmed in an age when healthcare organizations are facing demands to do more for their patients with the same or even less resources. Burnout among healthcare workers reached roughly 60% in 2021.

The pandemic took its toll on health systems around the world, leading to patient care and treatment being affected, with growing waitlists and waiting times, and overburdened care workers, struggling to fill the gaps in an already understaffed and under resourced sector.

In the World Health Organization’s (WHO) latest global pulse survey, 92% of the 129 respondent countries reported some kind of disruption to services. 

Read more on Medical Developments here.

Just 8.5% of firms with connections to Russia have pulled out of the country despite pressure to do so because of the war in Ukraine, according to research.

A report by two professors analysed Orbis company data and found of 1,404 EU and G7 companies with “commercially active equity investments” in Russia before the invasion, 120 (8.5%) had left by the end of November 2022.

After Russia invaded in February 2022 many firms including McDonald’s, Coca-Cola and Pepsi withdrew or suspended operations in the country following international outcry.

Local authorities in the UK responded by cancelling contracts with suppliers based in Russia.

Read more on CIPS Supply Management here.

Teleperformance reinforces our commitment to making a positive impact on the planet we live in. As a Force of Good, our corporate social responsibility initiatives that focus on the planet continue to create a spark of hope, paving the way for a cleaner, better, and healthier environment.

Ourpartnership with One Tree Planted, a 501(c)(3) nonprofit dedicated to global reforestation, has been fruitful. Powered by the generosity of those who donated to the environmental cause, we are on our way to strengthening reforestation efforts - as of this writing, we're well on our way towards our goal of planting 500,000 trees. With every dollar donated, a tree gets planted across North America, Europe, Asia, and in Latin America.

Read more on Market Screener here.

To many, “diversity” may seem like a buzzword—something leaders pay lip service to without producing tangible results. And since we’ve got a long way to go toward creating an equal workplace, diversity is still more important than ever. In 2023, diversity, equity and inclusion are table stakes for attracting top talent and running a successful business. I believe companies that choose to prioritize DEI will reap the rewards.

Business leaders cannot simply say they want to create diversity and expect a wide range of candidates to magically line up at their door. Without intention, employers could end up with the one-dimensional workplaces of the past. Businesses should be proactive about going out and finding diverse candidates.

Read more on Forbes here.

A gap in priorities between procurement and supply chain teams has resulted in higher costs, longer cycle times and less resilience, according to research.

A survey of procurement and supply chain executives found for buyers the top priority was “managing costs in face of inflation”, while for supply chain execs it was “ensuring delivery amidst supply shortages”.

This misalignment in priorities was a concern in organisations, as 58% of supply chain officers reported the gaps were resulting higher costs, 47% said they caused longer cycle times, and 42% reported negative impacts on resiliency. Additionally, around 45% said it resulted in an inability to source critical materials.

Read more on CIPS here.

Industry leaders say inflation is the biggest threat they face over the next two years, closely followed by the Ukraine conflict and geo-political tensions between China and the US.

The latest Trade in Transition global survey of 3,000 executives, commissioned by DP World (DPW) and conducted by Economist Impact, reports that 96% of companies are developing their supply chains to add resilience, following to the shockwaves from the Covid pandemic and geo-political issues.

DPW said: “The change has been swift. In the space of just a year, the number of companies shifting their manufacturing and suppliers – either to home markets or nearby – has doubled. This is driven mainly by efforts to reduce costs and the risk of disruption.”

Read more on The Load Star here.