< Previous30 C EO M I D D L E E A S T OCTO BER 202 1 THE WORK-LIFE BALANCE TIME CALLED ON THE 24/7 WORK CULTURE Mimi Nicklin, CEO and founder of Freedm, a new creative agency which aims to change the burnout-ridden industry, says a revolution in our work lives is needed WORK-LIFE BALANCE BY SCOTT ARMSTRONGOCTO BER 202 1 CEO MIDDLE E A ST 31 WORK-LIFE BALANCE former boss once told this au- thor that ‘anxiety in the work- place is a good thing’ except science tells us the opposite, that in fact the chemicals produced by stress actually shrink our brains. So, in effect, the impact of toxic workplaces is to make employees less productive not more, particularly in knowledge-driven economies around the world. With this in mind CEO Middle East joins Mimi Nicklin, CEO and founder of Freedm, a new creative agency which aims to change the burnout-ridden in- dustry, to discuss why workplaces have to change, particularly in the wake of the recent Cigna Wellbeing research. So why are we all so stressed, how dangerous is that, and what needs to change? There is no doubt that stress is danger- ous to our health and our businesses. US businesses now lose up to $300bn yearly as a result of workplace stress A Challenging the status quo. Nicklin says the pandemic has shifted how people feel about the balance between work and life Employment. Working professionals will spend more time at work than with their friends or family over the course of their lives (stress.org). The culmination of the last two years, on the back of decades of money first thinking, in a void of bal- ancing humanism with that capitalism, has left us exhausted and burn out. This is not only impacting our people but the growing economic ‘Burden of Depression’ in the US alone is costing society $210bn per year, according to the newest data available (Scientifi- cAmerican.com). It’s time for so many things to change. We need a revolution. Does that 88 percent figure of em- ployees in the UAE being stressed, found in the Cigna Well-being research, surprise you, and do you think it tells the whole story? Not really, we are living in a city that never sleeps and works to innovate and create at a speed the world barely keeps up with. We are known to be a market that works longer hours than many others. The pandemic has shift- ed how people feel about the balance between work and life however – in a 32 C EO M I D D L E E A S T OCTO BER 202 1 WORK-LIFE BALANCE Pandemic. Ongoing unrelenting stress takes its toll on the body and the mind mysteriously positive way – and it has led many to reassess the state of their health and well-being as well as the step on the ladder they have reached. Two years is a very long time and whilst we are creatures of habit, we are also creatures that adapt to that which enables our evolution and for many of us we have discovered new ways to thrive that don’t sit in the continual cycle of always on pressure to achieve, in a void of human connection. Jerome Droesch, CEO at Cigna MEA and SEA cited ‘overwork’ as one of the main factors, surely that was here before the pandemic, but how has coronavirus changed people’s reac- tions? Have we reached an inflection point? In short, have we had enough? The pandemic has not only deepened our sense of fear and insecurity in our world, but it has also thrown us deeper into the loneliness endemic plaguing our world. So, yes, we have had enough because collectively we have real- ised that our health is flailing under a never-ending cycle of fear, stress and loneliness. Beyond this shift, we are also seeing the first multi-generational workforce of this scale – often up to four generations being present in one company. As the younger teams come through the expectations of what work should and can offer are changing. This generation has grown up in a world of “THE PANDEMIC HAS NOT ONLY DEEPENED OUR SENSE OF FEAR AND INSECURITY, BUT IT HAS ALSO THROWN US DEEPER INTO THE LONELINESS ENDEMIC PLAGUING OUR WORLD” $300BN The annual cost of workplace stress in US businesses, according to stress.orgOCTO BER 202 1 CEO MIDDLE E A ST 33 WORK-LIFE BALANCE The research also goes on to say that half of all UAE employees have ex- pressed interest in changing their job in the next 12 months, compared to a global average of 31 percent. Should this be a wake-up call for employers who are already looking at a talent war in the market here? What’s the terror and turmoil and now a worldwide pandemic. Their expectations on “fix- ing” run deep and they simple won’t stand for the status quo. The pride that came with work 24/7 has long gone and now the focus is on the value I create versus the hours I dedicate. risk of not moving to address this? Absolutely it is a wake-up call, but the great thing about data is that you can use it! Employers should be using this data proactively and talking to their teams. Do they want to resign and if so, why? And can we change their minds or alter our reality in the workplace to fend 34 C EO M I D D L E E A S T OCTO BER 202 1 WORK-LIFE BALANCE off this flux of people exiting? Those that don’t show flexibility and openness to this cry from employees will lose out and they will see that talent heading for brighter pastures and businesses that offer more of what they need to thrive. The creative industry has long been famed for being in a high pressure and long working hours, tell us how you are aiming to change that with Freedm, what’s the overarching mission? Born out of the realisation that the pan- demic continues to take away our most treasured, yet fragile, value – freedom – Freedm has been founded with a model that employs and harnesses exceptional creative talent without bias or barri- Crucial. Sustained culture change only takes place when leadership is engaged and championing health among employees 50% The percentage of the UAE workforce who have expressed interest in changing their job in the next 12 months, according to the 2021 Cigna 360 Wellbeing SurveyOCTO BER 202 1 CEO MIDDLE E A ST 35 WORK-LIFE BALANCE higher awareness now of this need for more human-driven working environ- ments that balance our people with our profit. The fact that Forbes put ‘Empathy’ as the word of the year for 2021 is a sign the tides are turning. Looking forward, what gives you hope? Everywhere I look I find hope. The youth gives me hope, they are so hun- gry for change, they are so fearless and they question everything. They ask “why can’t we do that?” and the answer is “we can.” Our industry is chang- ing and that gives me hope. Since I launched Freedm I have seen so many people from all over the world come to me and say “we need this Mimi!” and that gives me immense reassurance. I have great hope that the world has created new leaders in these pan- demic months. Leaders who now see things differently, leaders who listen and are opening to being brave beyond their experience. This will breed en- trepreneurialism and change and the two together will drive up GDP. The world continues to change monumen- tally every single day and there are people pushing for that change relent- lessly. Including me. ers, and aligns with brands looking for a higher return on their marketing briefs. We believe in balancing humanism with capitalism and in so doing, we want to prove to the world that when we treat our people as heroes, our businesses win. And how are you going to pay that forward into your work with clients? If you could make one big difference what would that be? When our clients work with us they know that they are working within an authentically exciting bigger picture to impact and change our world posi- tively. Not only do our clients get the exceptional campaign, social or design work they need (which any of hundreds of agencies can give them) but they know their brief is impacting people’s lives all over the world. People buy from companies that stand up for humanity, so why wouldn’t clients want to buy from agencies that do this too? Freedm is using the power of digital connectivity to deliver exceptional sto- rytelling, branding and visual content that offers high return for your brand as well as creating opportunity for the cre- ators behind that work. We are aligned to the UNESCO’s Creative Economy for Sustainable Development and we are working with a huge passion to impact the people of our world whilst servicing the profit driven marketing goals and business needs of our clients. What’s not to love? If an employer is reading these head- lines and realises they want to avoid a ‘Great Resignation’ how do they ap- proach the issue, where do they start? By listening to their people. By be- ing curious and by asking the difficult questions now and then being open to the flexibility and open mindedness to change. Adaptation might be a CEO’s most critical tool in the months ahead. If we all start by understanding we are all humans before we are employees, leaders and team mates, we will go a long way to finding solutions that hero, the person amongst the business objec- tive and protect our businesses from losing out to the competition who is one step ahead. Perhaps if we dialed back five years ago, this research wouldn’t have landed in the way it has, is that a sign of progress? I absolutely think so. The business world has gone through an immense period of change and there is a far Planning. Adaptation might be a CEO’s most critical tool in the months ahead “WE WANT TO PROVE TO THE WORLD THAT WHEN WE TREAT OUR PEOPLE AS HEROES, OUR BUSINESSES WIN”36 C EO M I D D L E E A S T OCTO BER 202 1 DIVERSITY Didier Laffi neur, Regional Managing Director of Ferrero Gulf, explains why ‘empowering people’ is among the key pillars of the confectionery giant DIVERSITY AND INCLUSION AS ECONOMIC DRIVERS t has long been acknowl- edged that diversity and inclusion can significantly enhance your employer brand amongst all stakeholders, adding real value and delivering results that are conducive to a richer, more positive workplace culture. Of course, as an employer, cultivating a sense of belonging for everyone in your company is also key to hiring and retaining top talent. With this in mind, it is easy to un- derstand why, as topics, diversity and inclusion remain top of mind across business sectors, emerging as strate- gic priorities for talent management professionals all over the world. Today, Ferrero has over 37,000 em- ployees based in more than 50 countries. We know that, to succeed as a group, we must engage all our people to continue to succeed. In fact, ‘Empower People’ is one of our four key pillars, which fall under our sustainability framework. IOCTO BER 202 1 CEO MIDDLE E A ST 37 DIVERSITY In the context of diversity and inclu- sion, empowering our people means listening and responding to their views and creating a working environment where people feel valued and safe. For over 70 years, we have believed that a diverse and inclusive workforce and culture of strong values are crucial to long-term business success. Supporting workforce From our very founding, Ferrero’s culture has been rooted in values such as respect and integrity. Our focus on people extends across the whole value chain, ensuring we uphold high standards of safety, human and labour rights in both our operations and global supply chain. When it comes to capabilities, we believe that all our people are equally talented in their own way. In nurturing their curiosity and natural abilities, we provide the means to succeed person- ally and professionally throughout their journey with the group. Today, our GCC inclusion and diversity programme fo- cusses on the three dimensions of gen- der, generations and working culture. Taking action Needless to say, diversity and inclusion efforts simply can’t bear fruit over- night. At Ferrero, we understand that building a truly inclusive environment takes time and requires the develop- ment of processes and guidelines to support the change. That is precisely why, in financial year 2019/2020, we started the deployment of a three-year plan including a full set of initiatives addressing aspects such as recruitment, succession planning, learning, flexible working and reward. As part of that plan, we took a number of actions. For example, we appointed the company’s first global diversity and inclusion manager. We also designed and communicated a global governance model, including a group council and several regional councils to drive the global and local diversity and inclusion agenda, respectively. In addition, a total of 17 regional diversity and inclusion ambassadors were nominated to work as a network on diver- sity and inclusion programmes. They are responsible for driving the regional di- versity and inclusion agenda, reinforcing the subject regionally and elevating local voices by adapting the group’s vision in accordance with specific needs. For tracking purposes, we also cre- ated a global diversity and inclusion dashboard to be rolled out to all regions, designed to monitor key performance indicators (KPI)s. Looking ahead, we will continue to evolve our strategy focussing on creat- ing an inclusive mindset. Our aim is to preserve and protect the unique and distinctive know-how, experience and expertise we have built up throughout our long heritage while developing new skills and capabilities through lifelong learning. For us, this is key because we under- stand that having a strong diversity and inclusion strategy isn’t simply about attracting talent. For individuals to bring their best selves to work and reach their full poten- tial, they need to feel like they are part of a culture that they truly belong to. “LOOKING AHEAD, WE WILL CONTINUE TO EVOLVE OUR STRATEGY FOCUSSING ON CREATING AN INCLUSIVE MINDSET” Corporate standard. Ferrero’s culture has been rooted in values such as respect and integrity Action. Ferrero is making strong progress on reaching 100 percent traceability across its cocoa supply chain38 C EO M I D D L E E A S T OCTO BER 202 1 FINANCE Akshay Chopra, Vice President, Head of Innovation & Product Design for CEMEA at Visa, discusses the impact innovation has had and will have in supporting businesses recover, in light of last year’s unprecedented events and conditions HOW COVID HAS TRANSFORMED COMMERCE BY PUSHING COMPANIES TO INNOVATEOCTO BER 202 1 CEO MIDDLE E A ST 39 FINANCE • And yet 59 percent of small mer- chants considered themselves less than proficient with new forms of technology (Visa Back to Business Study 2021). The user and merchant journeys are changing dramatically, and to gain a deeper understanding of the trends impacting merchants today, we at Visa have divided it into five categories: buying, selling, moving, grooving and living. In each category we have worked with merchants to find innovative solu- tions, and I believe these case studies “I BELIEVE THIS SHARED SPIRIT OF INNOVATION WILL BEAR FRUIT AND HELP BUSINESSES TO RECOVER” his time it’s for everyone. The Covid-19 pandemic has changed the way the world does business. It has accelerated the global shift away from cash transac- tions and towards digital. And as big merchants sped up their transitions during the slowdown, many smaller merchants had to adapt in an attempt to try and keep up. Recent research conducted by Visa found that during the pandemic 43 percent of small merchants started selling products and services online for the first time, and 39 percent of them began accepting contactless payments, found the Visa Back to Business Study 2021. Like many other financial play- ers, Visa has a role to play in ensuring this transition goes as smoothly and productively as possible for businesses both small and large. Visa and our merchant partners across the region are seeing evidence of this trend daily and together we are working hard to create new and useful products that consum- ers will find convenient, secure and safe to use. I believe this shared spirit of innovation, which persisted even during the toughest of times, will bear fruit and help businesses to recover from the financial repercussions posed by the Covid-19 pandemic. The stakes are sky-high, and three statistics from research by Visa show the underlying challenge for merchants, and especially smaller merchants: • Fully 53 percent of CEMEA con- sumers who shop for groceries online made their first online order during the pandemic and 49 percent made their first online pharmacy order (as per the Visa Covid Impact Tracker in CEMEA 2020, Wave 3). • In the Middle East and North Africa (MENA) alone, contactless payments went from 51 percent of all face-to-face Visa transactions in December 2019 to 78 percent a year later (Visa Back to Business Study 2021). T Cashless payments. The pandemic is an opportunity for retailers to embrace digital transformation Empowering businesses. Merchants feel optimistic about business recovery in 2021Next >