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Deloitte: Healthcare and Life Sciences Predictions 2020

The predictions share a number of common themes, including shifting industry priorities, diminishing geographic boundaries, the evolution of an informed health consumer and, most noticeably, how technology is going to be a game-changer over the next five years.

The ten predictions for 2020

  1. Health consumers in 2020
    Informed and demanding patients are now partners in their own healthcare
  2. Health care delivery systems in 2020
    The era of digitised medicine – new business models drive new ideas
  3. Wearables and mHealth applications in 2020
    Measuring quality of life not just clinical indicators
  4. Big Data in 2020
    Health data is pervasive – requiring new tools and provider models
  5. Regulation in 2020
    Regulations reflect the convergence of technology and science
  6. Research and Development in 2020
    The networked laboratory – partnerships and big data amidst new scrutiny
  7. The pharmaceutical commercial model in 2020
    Local is important but with a shift from volume to value
  8. The pharmaceutical enterprise configuration – the back office in 2020
    Single, global and responsible for insight enablement
  9. New business models in emerging markets in 2020
    Still emerging, but full of creativity for the world
  10. Impact of behaviours on corporate reputation in 2020
    A new dawn of trust

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When one crisis meets another: Focusing on talent for the long term

Even as the price of oil remains relatively low, the energy and natural resources industry still finds itself facing a grave talent crisis. A wave of retirements, combined with a shortage of suitable replacement candidates, has left many companies scrambling to fill the skills gap. As the problem escalates to the C-suite, the time has come for new thinking.

Based on a survey of 2,543 energy and natural resources professionals, with expert commentary from KPMG International specialists and Rigzone, the report examines the talent-related challenges facing the industry today. It identifies five key strategies that companies can implement now to deal with their talent needs over the long term:

  1. Define a strategic workforce planning model.
  2. Make the most of analytics.
  3. Manage third parties more actively.
  4. Safeguard knowledge.
  5. Rethink the employee value proposition

One key area of focus is employee recruitment and retention. So much of a company’s long-term success depends on getting the right people — in the right places — early in their careers. This means putting in the energy and effort to identify and attract those people, even if it involves looking in non-traditional places and among non-traditional candidates. Also, the millennial generation has different career expectations than the generations that went before. Companies have to understand these expectations and make adjustments in order to meet them.

After 30 years of crisis — or near crisis, the time has come to bring the chronic talent problem under control. Executives can show leadership by becoming more engaged with the issue. The practical solutions outlined in this paper represent the first step.

Appropriate use of these approaches can cut costs, reduce construction times, speed start-up and cut environmental impact. In a world in which the economics of new LNG ventures are seriously challenged, projects with the most competitive supply chains have the best prospects for going ahead successfully.

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2015 Power and Utilities Industry Outlook

For the past couple of years, power and utilities industry discussions have focused on pending industry transformation due to pressures ranging from rising capital expenditures, to low load growth and competition from new market entrants. As the future of the power and utilities industry comes into focus, 2015 is the year for companies to chart the course to growth and returns. John McCue, US Energy & Resources Leader, Deloitte LLP, provides his take on the transformation underway in the US power and utilities sector.

 

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A different energy future – Where energy transformation is taking us

We are witnessing considerable disruption in the power sector arising from a combination of policy, technological and customer change. It’s creating a transformation in how we think about, produce and use electricity. In some parts of the world, disruption is already taking a strong hold. In other parts of the world, it is just beginning. It comes on top of the already considerable existing challenges companies face in providing energy security, affordability and sustainability.

Looking further ahead, we find that a clear majority in the survey expect significant or very significant market model change by 2030 in response to energy transformation and that current business models won’t be sustainable for long. For some the need for change is pressing and, indeed, well over a third of those in North America and Europe say that current power sector company business models are already broken and the need for change is already urgent. But elsewhere in the world, the imperative to change is felt to be less immediate.

PWC examine what all this means for the operational focus of companies. As well as a switch away from thermal to renewable generation, we find a big step-up in activity is expected in areas that are of limited or only emerging importance to the sector at the moment, such as smart city, smart home and smart community infrastructure, local energy systems, electric vehicles and off-grid solutions.

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Retained Consultancy v Contingent Agency

There can be a misconception among ‘line’ or ‘hiring’ managers that the market is flooded with suitable candidates and that therefore recruitment is a straightforward process. However, the reality is that those responsible for finding new talent for their organisation work very hard to identify the right people

The myriad of tools available to the corporate recruiter includes external consultancies. These are usually defined as either retained consultants, with a retainer paid up front and further staged fees, or contingent agencies, where a single fee is paid at the point when the position is filled. Many of our clients use a mixture of both to fulfil their recruitment needs and this article looks at some of the advantages and disadvantages of each type of external supplier.

When you work with a retained consultancy, after payment of the retainer further agreed stages for payment are clearly linked to specific deliverables. As well as a final appointment, these will ideally include a fully qualified, professionally interviewed shortlist with the necessary checks and early referencing completed. As a client you will typically receive better results from a retained partner because there is a mutual commitment from the outset. And the quality of the shortlist should also reduce the risk of failure late in the appointment process. But do watch out for consultancies that charge a monthly fee, whatever the outcome.

Despite the many positives of working with a retained consultancy, it can still be tempting to engage with a number of contingent agencies. However, as a client you have fired the starting gun for a race to get CVs that exist on multiple databases to you first. As contingent agencies are only paid when a final appointment is made, they tend to send a number of CVs in the hope that one may be appropriate and candidates may not always have been interviewed by the contingent agency for the specific role in question, which increases the burden for the client. On the plus side, using a contingent agency does allow clients to pursue other avenues, such as internal candidates or their own advertising process, without incurring extra cost unless an appointment is made. But do ensure you are fully aware of the contingent agency’s terms and conditions: complications may arise if you recruit a candidate whose details you have received from more than one source, for example.

Contingent agencies tend to operate at the lower end of the salary scale where there are more roles to fill – usually on a ‘No Win, No Fee’ basis. Conversely, retained consultancies tend to be used at the higher levels of management where there are fewer roles and the talent base is arguably smaller. The result of this separation in the market is that whilst contingent agencies try to move up the management chain with limited success, high end, retained consultants tend to try to move down the management chain. In the latter case, percentage-based fees are often too low for the consultancy business model, which calls into question whether the commitment from the retained consultant can be as great. For clients recruiting at middle-management level this separation means becoming squeezed between the two styles of external recruiter.

GKI Resourcing has been established to bridge this gap with a business model created around specialising in retained recruitment for middle-management positions and an ability to deliver effectively at the £40k to £95k salary level. We don’t want to paint the picture that working with a retained consultancy is the magic solution for filling all mid-level positions within an organisation: there is a balance that exists between the benefits gained from the added focus of a retained consultancy partner and financial viability. That being said, we do believe that a retained consultancy approach should be more frequently utilised when it comes to filling challenging roles. Ultimately, the placement fee is likely to be similar and the rate of success is likely to be higher.

How we work

At GKI we try to keep the business of recruiting simple, so we don’t overcomplicate what we do, but we do seek to do what we do, well

Key to our success is the partnership and close relationship we maintain with clients, and the earlier you can involve us as key advisors in your recruitment projects, the more successful your recruit is likely to be, as we can bring our knowledge and experience into your decision making process. This allows you to make better informed decisions about recruiting, leading to increased chances of success and lower costs. Once the search is agreed we apply our eleven stage process to ensure that you experience the best chances of finding the right person for you.

Our primary focus is in the ‘difficult to fill’ market of £40k to £95k and we work as retained search consultants to successfully fill these roles. We have selected this salary bracket deliberately, as clients found that contingent, database driven agencies struggled to fill roles at the lower end, while search consultants at the higher end were unable to deliver the quality of service required by clients as the fees did not match with their business model.

So, we work with you, we charge a fixed fee (no variable percentages dependant on the remuneration package), we charge a retainer as part of the fee, and we carry out a full search project for you throughout the UK, into Europe and occasionally in the Middle East.

We have achieved a very high rate of success and that should give you the confidence to work with us in the future, while allowing us to lead and manage the project successfully.

If you would like to know more, please email or call our, Managing Director, George Wealthall on georgew@gkirecourcing.com of call on 0161 641 0897

We look forward to hearing from you.

 

GKI Resourcing

Engaging People

Flexible Working

Only 6.2% of jobs advertised in the UK mention flexible working options, according to a national study by flexibility experts Timewise. These findings coincide with a separate report from the recruiters Manpower Group, which warns of a ‘critical shortfall’ of qualified workers.

Timewise analysed 3.5 million UK-based job vacancies and found only a small per cent of quality jobs offer salaries of £20,000 a year or more and some degree of flexibility.

With 14.1 million people in the UK believed to want or need flexible work, Timewise is urging employers to mention flexibility in job advertisements, to attract a more diverse range of candidates.

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2015 Consumer Goods Trends

As consumers, media, and markets splinter, packaged-goods companies must figure out how to profit from fragmentation. To read the full report click on link below;

http://www.strategyand.pwc.com/perspectives/2015-consumer-goods-trends

Digital Influence in UK Retail – The true value of digital in-store

Consumer ownership of and engagement with digital technology is growing, and the rate of growth is accelerating. The fact that consumers are leading increasingly digital lives has an impact on how they consume products and services and the way that they interact with retailers and brands.

To assess the changing dynamic between the consumer and retailer, and both the physical and digital worlds, Deloitte conducted a study to find out how consumers currently use digital devices at different stages of the shopping journey.

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The Deloitte Consumer Tracker: Q1 2015 – A Spring in their step?

Higher disposable income drives confidence up

The level of confidence about household income is at its highest in over three years and is getting closer to positive territory. Supported by a recovery in spending power and further falls in unemployment, consumers’ finances are starting to normalise. Such an improvement points to an acceleration in consumer activity and suggests that 2015 may well be the best year for consumer expenditure since 2005.

An improvement in disposable income has been the main driver of the recovery in our consumer confidence index. In Q1 2015 consumers’ confidence in their household level of disposable income rose by seven points compared to a year ago and is now 30 points higher than when the survey began in Q3 2011.

 

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Our Thoughts