< Previous10 C EO M I D D L E E A S T AU GU ST 2 0 2 1 TIME | ROLEX set up Shadani Consulting, an independent PR agency spe- cialising in thought leadership, corporate communications and luxury PR in 2016. After fifteen years in the field, I felt I had the experience, media contacts and business acumen to finally be “my own boss” and escape the rat race of crazy workloads, unrealistic timelines and long work-days. Boy, was I in for a surprise! Setting up and running your own outfit is nothing compared to being employed, where there are at least some pre-defined roles, structure and a semblance of work-life balance. For the first year, I did everything that I could myself (to save costs) and was working non-stop trying to secure clients who were open to trusting a new agency with their communications. As our cli- ent roster grew, so did the team and we diversified into social media, content creation and most recently, launched a video production division. It’s been an incredible five years, with triumphs and mistakes along the way. Both of which have taught me key lessons – but it’s the challenges and perceived “failures” that really stand out for me. As we celebrate our half-decade anniversary, I would like to share some of the lessons that I have learned along the way. Gut instinct is a real thing When I started Shadani Consulting, I was so hungry for business, I never said “no” to new opportunities. Every chance that came my way, I seized and gave it my 100 percent, even when I felt that “something’s not right”. As time went on, I realised that every time I had said “yes” to business, in spite of feeling uneasy about it, I regretted it. Late payments and personality clashes were only some of the outcomes, and more often than not, the desire to suppress my gut instinct came from the desperation of being a new start-up and trying to make ends meet. I quickly learned (the hard way) that if you feel that “something is off” then it definitely is. Five years on, my Spidey EXPERIENCE COUNTS Zaib Shadani, communications consultant, personal branding and thought leadership expert, shares the fi ve hard lessons she learned in fi ve years of running her own PR agency I MARKETINGAU GU ST 2 0 2 1 CEO MIDDLE E A ST 11 MARKETING sense is pretty strong and while “gut instinct” isn’t a proven business strategy, it’s probably been one of my greatest teachers. Your price is determined by your worth – not the size of your business When I was first starting out, I didn’t have a lot of infrastructure or the razzle dazzle that goes with having a large agency set-up, so a lot of times, potential clients would ask for a discount, because we were a newly established and relatively small set-up. For some clients, small meant inexperienced and cheap and they would request an hourly rate. The thing is, although we started out as a small agency, our experience and ex- pertise was on par with any global agency and as any professional consultant will tell you, you never charge for the hours you’re putting in, but the years of experi- ence, expertise and contacts that you bring to the table. If there is one piece of advice that I can give, it’s to know your worth and stick to it. Talk less and listen more This one should be self-evident, but I’ve realised that sometimes we are too quick to offer solutions and show clients how we can help them, without giving them enough time to share the full spectrum of challenges, concerns and ultimate goals. It’s important to listen generously, so that clients feel fully heard and supported at every stage. I too am guilty of getting very excited about new clients and all the different ways that we can support them – but have learned to hold my horses till the client is comfortable that they have adequately presented their side. As counter intuitive as it may be, the art of great communication lies not in speaking, but in active listening. You need a tribe around you Entrepreneurship is about problem solving – the learning curve is incredibly steep when you set out on your own and the larger your “tribe” of supporters, the greater your chances of success. More than 90 percent of our business still comes from personal referrals from clients and friends who make up our “tribe”. Moreover, many times when cli- ents ask us to do things beyond our scope of expertise, rather than turning that business down, we outsource it to other experts and freelancers in our network. Collaborating and supporting others is integral to the growth of any business and a philosophy that we follow to this day. Don’t take perceived “failure” personally The pandemic hit the PR and advertis- ing industry very hard and we had a few clients downsize their PR retainers, while some new clients cancelled their projects. As an agency that prides itself on retaining clients for multiple years, it was a jolt to lose clients, even before we had started working with them. It had never happened before and I took it very hard. It made me question whether we had done something wrong or could have done something more, to hold on to the clients. It’s only now, that I look back at the carnage that Covid-19 wreaked on the in- dustry, that I am able to fully understand that we are one of the lucky ones to still be here. When your name is on the door, every loss or perceived “failure” is personal and hits you hard. The impor- tant thing is to be able to take the punch, still get up and move forward. For me moving forward meant reinventing our business model and setting up a video production house during the pandemic, so we could lever- age the power of social media and video content, to better serve our clients and expand our reach. I still take “failure” personally, but I’m getting much better at bouncing back. “IT’S IMPORTANT TO LISTEN GENEROUSLY, SO THAT CLIENTS FEEL FULLY HEARD AND SUPPORTED AT EVERY STAGE.” Teamwork. Collaborating and supporting others is integral to the growth of any business.12 C EO M I D D L E E A S T AU GU ST 2 0 2 1 don’t even know how I feel. I’m just numb,” I told my colleagues during our daily all-hands team call as news of death and devastation in India engulfed my social media feed. My colleagues, many of them in India themselves, responded by sharing what they were going through and what made them anxious as they waited for the inevita- ble news of a loved one testing positive to hit home. Those are one of the many conversa- tions about our well-being we’ve had as a team and it’s helped me learn what accommodations I need to put in place within my organisation and which team members need to be better supported. Companies and executives can no longer afford to ignore the mental health of their team members particularly in light of the pandemic. While here in the UAE, we are lucky that life has resumed, but for those who have family elsewhere or are working remotely from their home countries, it can be a difficult time as a second wave ravages many parts of the world. Destigmatising conversations around mental health in the workplace is one of the most pressing issues of our times, writes Re:Set founder Aakanksha Tangri WHAT THE HEALTH? Amidst this, the taboo around mental health still persists but it is crucial to do your part as a leader and as an organisation to help normalise conversations around the subject. Here are some ways you can destigmatise mental health at work: Speak up As a leader, you set the tone and culture of an organisation and if you speak up about your experiences with mental health or you open up about what you’re going through, you’re go- ing to not only build a bond with your team members, but also show them you understand and value the importance of well-being. “ I RESILIENCEAU GU ST 2 0 2 1 CEO MIDDLE E A ST 13 RESILIENCE You will inculcate a safe space allow- ing room for conversation and empa- thy — both of which are necessary in a company. The days of a stoic leader are gone, people now want their managers to be transparent, to embrace vulnerability and show that they’re human, they care and are also prone to going through some of the same challenges. Listen and reassure Foster a safe space to have conversa- tions around mental health and what challenges employees are going through. What often holds people back at work from speaking up is the fear of repercus- sions if they do share about their mental health challenges, so it is important to reiterate that their position at work won’t be affected in any manner. You can create breakout groups, have one- on-one conversations over coffee, hold a town hall and even send out an anony- mous survey to actually hear from your team. If you feel some may be hesitant in opening up to you, appoint wellness am- bassadors who are on the same organi- sational level to speak and listen to their peers and provide you with feedback. Accommodations and support Once you know what challenges your team is facing, look at how you can address those. Whether it’s by covering therapy costs or providing subsidised therapy, allowing for more flexible hours, continuing with work from home, establishing a workplace wellness programme or bringing in well-being experts and coaches to hold sessions for your colleagues. There are a wide variety of support systems and steps you can implement to better support the well- being of your team members that are best suited to their needs and address their concerns. Evaluate the work culture and give leeway We are all going through a tough time which is why it is important to be kind and flexible. These supports and ac- commodations won’t be effective if you don’t make changes to the overall work environment, especially if that is one of the main stressors for employees. What are the toxic points in your organisation that need to be addressed? Are you expecting too much of your team and are too rigid in your approach? Are you calling them after work hours or are you respecting their personal time? Is there pressure on them to even work on their days off or be instantly available? All of these can have an im- mense impact on an individual and can exacerbate mental health challenges they already may be experiencing. Keep in mind to simultaneously also address and evaluate the work culture while you put well-being support in place because you will find overlaps between the two. Let go of toxic positivity We’re all guilty of this, but it’s about time we learn to unlearn toxic positivity and statements just as “be strong,” or “cheer up,” and others which do more harm than good. These help no one and further contribute to the stigma around mental health and invalidate an indi- vidual’s life experiences. You may think you’re being sup- portive by advocating that they always embrace a positive mindset and look at the positives in each situation, but it’s really not that simple. By preach- ing toxic positivity, you’re instead going to set your team back and also make them hesitant from opening up to you if they know they won’t be listened to but instead will be talked at. Re:Set is an online resource of tools and stories around education, parenting, gender, inclusivity, mental health and well-being. For more informa- tion, please visit resetyoureveryday.com or follow on Instagram: @resetyoureveryday and Twitter: @ReSet_Everyday. “IT’S ABOUT TIME WE LEARN TO UNLEARN TOXIC POSITIVITY AND STATEMENTS JUST AS “BE STRONG,” OR “CHEER UP,” AND OTHERS WHICH DO MORE HARM THAN GOOD.” Dilemma. What holds people back is the fear of repercussions if they share their mental health challenges.14 C EO M I D D L E E A S T AU GU ST 2 0 2 1 o matter what your busi- ness model or sales strategy, the Covid-19 pandemic has forced everyone to go on-line and embrace the “new normal” and all that comes with it. The new hybrid working environment now necessitates a journey towards digital transformation, that promises better margins, enhanced pro- ductivity, streamlined efficiency, better connectivity, as well as a clear competi- tive advantage. In the last year alone, global searches for “digital transforma- tion” have risen by 30 percent and this trend is set to continue. Social distancing, complemented with the phenomena of work from home has led to many changes and chances are that if you don’t develop a digital transformation strategy, your business is not engineered for success. The pan- demic has been a true test of our times and it has been companies who have changed the way they do business and adapted remote and digitally forward operations during the pandemic, who have survived and come out stronger on the other side. Survey results indicate that 87 percent of business leaders cite digitisation as a company priority, however, with McKinsey saying that 70 percent of all digital transformation initiatives are destinated to fail. Every digital transformation journey needs a clear roadmap if it is to succeed, and here are the top considerations to get started: It’s an ongoing “always on” process As much as digital transformation is about “doing things differently”, it is also about doing “different things” and is a constantly “Always on” cycle with no end. It’s a continuous process that adapts to changes in technology, innovation and most importantly, cus- N “EVERYONE NEEDS TO BE INVOLVED AND ON BOARD, OTHERWISE, THERE MAY BE A DISCONNECT.” Data protection. Information is an organisation’s most important asset, so protecting it is critical. DIGITAL TRANSFORMATION IS THE FUTURE In a post-pandemic reality, the fact is that every business is now a digital business, believes Subbu Hariharan TECHNOLOGYAU GU ST 2 0 2 1 CEO MIDDLE E A ST 15 TECHNOLOGY tomer behaviour. Thus, organisations should adopt a mindset where they are continually evaluating and testing new technologies to see what can add value to both, the company bottom line and the customer journey. This is particu- larly poignant when we realise that ac- cording to McKinsey, 70 percent of all initial digital transformation initiatives will fail, because companies do not accept the need to continually innovate and keep adding “different things” to the process. While the digital transformation journey will be different for every busi- ness, the one constant is the ongoing evolution towards the integration of more digitised services. For example, this may combine manual printing with automated finance, or electronic mail processing with analogue data capture. Whatever the mix, the need for a hybrid working environment necessitates a journey towards the adoption of digital transformation – with the experience of customers and employees at its centre and underscored by an on-going and continuous cycle of technological improvements and integration. Integrate new technologies – especially cloud Technology is evolving at a tremen- dous rate and applying a broad brush approach to digital transformation isn’t recommended, instead choosing the right technology is key. A leading technology that is guiding the way by enabling flexibility, agility and con- nectivity, suitable to a remote and hybrid working environment, is cloud technology. Cloud-enabled platforms and technology offer a host of benefits – in fact 80 percent of organisations that have implemented, or are planning to implement a digital transformation strategy, say that cloud is “important”, while an additional 13 percent say it’s “critical” to business enterprise in a post-Covid-19 era. A major benefit of cloud-based technology is the fact that it negates the need for an elaborate physical infrastructure, so that smaller busi- nesses who struggle with the investment required for on-premises implemen- tations, can access new capabili- ties through cloud-delivery models. Additionally, cloud-based platforms enable teams to collaborate effectively in a hybrid or WFH situation, with research showing that online cloud based collaboration tools can improve team efficiency and enable employees to stick to their task for 64 percent longer than those who are working alone. This way of working is now very much a need of the times – By March 2020 alone, Microsoft has already seen a 775 percent increase in demand for its cloud collaboration services in areas where social distancing and lockdown were in effect. As we emerge into a post-pandemic era, and move away from traditional business models, cloud-enabled technology will remain integral for our future workspaces. Increased cybersecurity measures As companies go more digital, cyber- security has become a critical corner- stone, in fact, according to a survey by CNBC, more than one-third (36 percent) of executives say that cyber threats have increased significantly since the majority of their employees have started WFH. There is a real need for organisations to have robust meas- ures in place to keep their documents and information secure, especially with a distributed and remote workforce. Outside of the official company net- work, employees are more vulnerable to being targeted by malicious actors. While cloud collaboration plat- forms make working together easy, they also create additional security concerns: it may be easier to share files, but it comes at the cost of less oversight by IT teams. Moreover, according to industry statistics, it is estimated that a cybersecurity breach takes an aver- age of 280 days to identify and con- tain, leaving companies vulnerable for extended periods to time. Develop a culture of adaptability Technology is changing and companies need to be agile enough to adapt, so it’s important to work towards creating an organisational culture that embraces technology and the changes that come with it. Everyone needs to be involved and on board, otherwise, there may be a disconnect between the organisational goals and employee’s willingness to embrace the changes. Buy-in from customers, employees, suppliers, partners and other external stakeholders is of paramount impor- tance to ensure that the digital trans- formation journey is successful. “IT’S IMPORTANT TO WORK TOWARDS CREATING AN ORGANISATIONAL CULTURE THAT EMBRACES TECHNOLOGY.” Expert view. Subbu Hariharan, managing director, Canon Middle East and Turkey.16 C EO M I D D L E E A S T AU GU ST 2 0 2 1 COVER STORY | SUNIL KAUSHAL‘SHOW UP WHEN A CRISIS HAPPENS’ SUNIL KAUSHAL, REGIONAL CEO FOR AFRICA AND THE MIDDLE EAST AT STANDARD CHARTERED, ON THE KEY VALUES BEHIND HIS SUCCESS, THE CHANGING FINANCIAL SECTOR AND THE IMPORTANCE OF VISIBLE LEADERSHIP IN TOUGH TIMES Interview by RIAZ NAQVI Photos courtesy of STANDARD CHARTERED COVER STORY AU GU ST 2 0 2 1CEO M IDDLE E A ST 1718 C EO M I D D L E E A S T AU GU ST 2 0 2 1 ith three decades of experience in the banking sector, including 23 years at Standard Chartered, you’d be hard-pressed to find a more valuable source of financial industry knowledge than Sunil Kaushal. As Standard Chartered’s regional CEO for Africa & Middle East (AME) – he previously held the same position for South Asia – Kaushal credits his career trajectory to his adherence to a few key values. “Firstly, professional integrity in the way we conduct ourselves with all our stakeholders, colleagues, regulators, cli- ents and the community. In the corporate world, I have seen so many of us who let this value erode.” He sees professional integrity as a compass that guides one through their personal and professional lives. “Sadly, many forget this and, in many ways, lead a double life where they are different personalities at the workplace and in private.” Kaushal’s second key value? Be- ing visible – especially when there is a problem. Leading from the front without pointing fingers is important too. “Show up when a crisis happens.” While he recognises the importance of financial well-being, Kaushal is firmly against using money as the primary mo- tivator behind your actions. “Financial well-being is very important, but it is one W $2.56BN Standard Chartered’s first-half pre-tax profits; up 57 percent compared with the same period last year Confidence. Standard Chartered has recorded positive performance in the first half of 2021 despite an uneven recovery from Covid-19. COVER STORY | SUNIL KAUSHALSUNIL KAUSHAL AU GU ST 2 0 2 1 CEO MIDDLE E A ST 19 on a daily, monthly or even annual basis – but they do check on your contributions.” If your professional life feels too easy and comfortable, that’s not a good sign, he says. “A constructive sense of paranoia is good.” Kaushal is keen to stress the im- portance of spending time in “deep work, not superficial matters” and displaying visible leadership, particularly when things are tough. “It is also important to amongst others such as physical, emo- tional and social/relational well-being.” Though there’s nothing wrong with doing things with one eye on achieving a higher bonus or pay increment, that shouldn’t be the sole motivator, he adds. Finally, a determination to contin- uously learn from peers while staying abreast of market conditions has given Kaushal the technical know-how to lead the bank’s AME operations. “Be decisive but be open to ideas and sug- gestions – I believe it is crucial to stay curious and hungry for knowledge and development, be it in a professional or personal capacity.” A hunger for knowledge Kaushal has invested substantially on the knowledge front, with executive educa- tion programmes from the likes of Har- vard Business School, INSEAD, Oxford and London Business School under his belt. “From these courses, I gained a mul- titude of practical and technical experi- ence that ultimately fuelled my drive to excel in the banking field. The structure of these schools has also translated into my day-to-day life – committing to deadlines, time management, inter- personal skills, and much more – which have also had a significant impact on my personal development.” Even outside the formal structures of such programmes, Kaushal likes to research and dive into topics such as digital, blockchain and ESG. However, while he certainly appreci- ates the value of a formal education from a prestigious university, Kaushal believes that alone isn’t sufficient today. “Your real value is driven by a combination of deep knowledge and soft skills,” he says, adding, “No one checks on your degrees invest in relationships based on trust and hard work, and not necessarily only with seniors. “Circumstances change and you never know who may later have a say on your next career move.” Kaushal feels blessed to have worked with a range of inspiring mentors throughout both his career and personal life, in which his father and wife have always been there to offer him guidance and support. He likes to spend his spare time on the golf course, reading and at home unwinding with family. The Eureka moment Every successful leader has a moment “CIRCUMSTANCES CHANGE AND YOU NEVER KNOW WHO MAY LATER HAVE A SAY ON YOUR NEXT CAREER MOVE.” Reconfiguration. Physical branches will shift from transaction to advisory services. Growth prospects. The bank has increased assets under management by $10bn in 2021.Next >