PwC's Tim Ryan: CEOs Must Invest in People and Society to Stay Relevant

"People now more than ever want companies to do the right thing and be transparent and accountable for their business practices," writes Ryan, U.S. Chairman and Senior Partner at PwC.

PwC is No. 4 on the DiversityInc Top 50 Companies list

(Originally published on LinkedIn)

Tim Ryan

In today's business world, disruption seems to rule. Megatrends — including digital transformation, demographic changes, and a growing scarcity of resources — are shifting markets and challenging traditional business models. If businesses do not see what's happening around them, they're going to be left behind.

In addition, consumers and employees alike are demanding that businesses and brands do more for society. People now more than ever want companies to do the right thing and be transparent and accountable for their business practices.

All of this may seem random and uncertain, but I guarantee you it's not. These megatrends are having an enormous impact on business and how it should be conducted. These trends may seem fast-moving and far-reaching, but they're not random.

In my role, I'm regularly talking with other CEOs about these trends and what they mean for business. And while all of us recognize these trends, even the best of us can sometimes get distracted by tunnel vision. But maintaining our competitive edge and staying relevant means having to constantly be aware of these dynamics. CEOs that pay attention to these influences have a real opportunity to inspire their employees, serve their clients better, and create greater impact beyond the bottom line.

Indeed, more and more of our customers and clients expect us to be aware of what is happening around us, even if it doesn't seem to be part of our core business. In fact, they demand that we be responsive to their needs and expectations. And increasingly both employees and customers want companies and their leaders to have a moral conscience and to speak up when we see injustice in the world. As business leaders, we know that we will not be able to recruit and retain the best talent or pursue growth and profits without being socially aware and engaged in our communities.

Given all of this, here are three investments that business leaders can make to stay relevant, competitive, and responsive to external forces:

1. Invest in the wellbeing of your employees. Business leaders today have to go beyond just motivating their employees. They have to inspire them and invest in them holistically; this means their physical, mental, emotional and spiritual wellbeing. It also means we have to help our people maximize their wellbeing in and out of the workplace. They have to be well in order to work well.

2. Invest in the digital upskilling of your workforce. As technology disrupts industries and creates new opportunities, we have a responsibility to bring our people along. Automation and artificial intelligence can be scary because it causes people to worry about losing their jobs. But as business leaders, we should try to ensure that no one who is willing to grow with these changes is left behind. We should digitally upskill members of our workforce who are willing to learn so they are able to take on the jobs of tomorrow.

3. Invest in solving societal problems. With a well-skilled and inspired workforce, anything is possible — including solving some of the most pressing societal issues of our time. So as business leaders, we must work with our people as committed members of broader society to address issues like climate change, racism and bigotry, and inequality and poverty around the world.

While investing in these three areas may take a lot of time and financial resources, at the end of the day it will be good for business. A more skilled and inspired workforce that is conscious of the issues facing our society will ultimately be more agile and responsive to customer and client needs. They will be more innovative in finding solutions to business and societal problems and much more adaptive and nimble to external changes and disruptions.

As we look toward the future, many people see volatility and uncertainty, but I see a tomorrow that is bright, hopeful, and full of opportunities. That's why at PwC, we are always looking at what is happening around us — going beyond our business and examining the external forces that are already changing the world as we know it. It is also why we realize that businesses today have to act differently and why we're investing in these three areas ourselves. We want everyone at PwC to be leaders that can own their own future and make tomorrow a better place for business and society.

Learn about career opportunities at PwC

PwC: A Moment of Respect and Reflection this Memorial Day

Our veterans represent natural and authentic leaders, who are self-driven, goal-oriented and transparent communicators.

Originally Published by LinkedIn.

By Timothy Stoner

Our Remembrance

First and foremost, I wanted to take a moment to provide my personal gratitude and solemn respect for all of the women and men who have given their lives in the protection of the United States, our freedom and for the citizens of this great Nation.

Memorial Day has grown in significant importance for me and my family over the last decade. Having been deployed into combat, coupled with our continued operations and campaigns across multiple theatres, the number of soldiers lost and funerals I have attended - continue to climb.

While many may view Memorial Day as a signal to the conclusion of school, the beginning of summer, BBQs, vacations and time off, this isn't the set of lenses I look through. The loss and sting over the last seventeen years, have kept me grounded and mindful around this day of remembrance.

A New Challenge

I am excited to be writing to you today, and equally passionate about my newest challenge at PwC. I have been asked to lead our US Veterans Affinity Network (VAN), which is a critical component that contributes to and helps deliver our overall strategy within the Office of Diversity and Inclusion.

PwC's Veterans Affinity Network, is a close-knit community of more than 1,100 professionals, veterans, spouses, civilians, volunteers and families – all working together in the support and transition of our veterans from service to a career within PwC.

Investing in our Veterans

PwC and our Veterans Affinity Network is involved at every intersection and each step of the way: by providing one-to-one PwC veteran mentors and coaches to candidates as they move through the screening, recruiting and hiring processes, and once a veteran comes onboard, we offer coaches who are veterans and relationship partner support for ongoing career management and professional development.

Our veterans represent natural and authentic leaders, who are self-driven, goal-oriented and transparent communicators. This desire for authenticity - encouraging our people to be genuine and to reach their full potential – is partly why the firm has been recognized as a top military-friendly professional services employer since 2011. Most recently, we were named to the Military Times Best for Vets Employers List.

As a fellow veteran, with continued service in the Army Reserves, I completely understand the responsibility, service and sacrifice you and your family uphold. Thank you for making the difference, your commitment and answering our Nation's call.

PwC Receives Three SAP Awards for Partner Commitment and Innovation

The award recognizes PwC for its contribution to a customer's digital business transformation that has resulted in significant business impact.

PwC announced that it has won three SAP awards for 2018. The global consulting firm was awarded two SAP Innovation Awards along with an SAP Pinnacle Award, which is presented annually to the top SAP partners.

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