What’s Happening in the Financial Services Sector?

Those of us who live in the Queen City know that Charlotte is the third-largest banking center behind New York City and San Francisco.  According to S&P Global Market Intelligence, the Charlotte region is home to 16 banking institutions with $2.27 trillion in total assets.  So, what’s happening in the USA’s financial services sector overall?

Learn about the future of Financial Services here.

How are tech trends and FinTech affecting the Financial Services industry?  Learn how here.

Are technology firms the next Financial Services providers?  Let’s see what Forbes thinks here.

Finally, learn about the third way of innovation (AI and machine learning) in Financial Services here.


The Growth of Coworking

The Queen City is continuing to see the growth of coworking space.  The coworking concept, paying for access to private and shared workspace, was initially fueled by the rise in mobile technology and the gig economy.  More recently, the coworking trend expanded in the corporate and commercial real estate market, with more than one million people worldwide expected to be working in coworking spaces by the end of 2017.

Coworking spaces come in all shapes and sizes and represent the antithesis of yesterday’s corporate offices.  With an estimated 14,000 spaces around the world, the spaces are shared by corporate teams, small businesses, tech workers, creatives, entrepreneurs, and more who are looking for the flexibility to be able to expand and add office space as they grow.

Learn more about the coworking trend below:


Gaining the Competitive Edge Through Digitized Supply Chain

Just like everywhere else, digital transformation has impacted the optimization of supply chain efficiency.  Advances include crewless ship operations, new warehouse automation breakthroughs with robots, development of autonomous-vehicle supply chains, advancements in 3D printing, and the emerging role of blockchain.

Learn more about how a digitized supply chain can give you a competitive edge here.

Demystify 3D printing and its disruption in industry here.

Your roadmap to a digital supply chain is here.


Pop-Up = Competitive Advantage

The concept of “pop-up” was once limited to the world of retail and public relations stunts.  Fast forward to today, and you’ll find business innovators using pop-up strategies in fresh, new ways to gain a competitive advantage.

Most people think of “pop-up retailing” (also known as “flash retailing“) as shops, restaurants, collections of shops or events opening short-term in a temporary location.  The concept, however, is now being utilized in other ways including as a business model for temporary, project-based companies and training/professional development organizations.

The New York Times recently ran a story about how “flash organizations” are forming to build products for the on-demand economy.  Click here to learn more.

The Croixstone team loves SkillPop, a local organization providing pop-up training and professional development.

For WSJ subscribers, learn how consumer brands create buzz by setting up NYC pop up stores here.


Portfolio Careers + LOOM Coworking + Croixstone Consulting

Yesterday the Croixstone Consulting team enjoyed the opportunity to facilitate a professional development “Lunch + Learn” talk on the topic of portfolio careers at LOOM Coworking.  The session was led by Mark Weber (Croixstone’s founder and Managing Partner) and Tony Armeni, MBA (Senior Consultant in Croixstone’s Human Resources practice group).  The Croixstone team presented at the invitation of Jen Belk (Director and Programming Coordinator, LOOM Coworking and VP of Design and Consulting, Belk Construction Management Group).

Portfolio careers have long been prevalent with creative arts professionals and have emerged as a compelling career option for business professionals.  Simply stated, a portfolio career is a working style where a professional has several strings to his/her career bow (often creating a mix of employment, freelancing and/or consulting).  Business professionals are increasingly turning to portfolio careers to combine their passions in a way that works for them.

Despite Mother Nature’s fury yesterday, the Croixstone team presented to a full house and enjoyed the warm hospitality delivered by Jen Belk in the energetic LOOM Coworking space.  Thanks to Jen and all who participated in yesterday’s “Lunch + Learn”.

To learn more about portfolio careers, click here.

To learn more about LOOM Coworking, click here.

 


Automation, Big Data and the Future for Accountants

So what does the rise of intelligent machines mean for the future of accountants?  

Accounting Today recently endeavored to answer that question with help from two executives from Genpact, a global leader in digitally-powered business process management and services with experience in serving one-fifth of the Fortune Global 500.

Gianni Giacomelli (Chief Innovation Officer) and Prashant Shukla (Vice President, Marketing) of Genpact shared the following insights.

  • A large number of positions now handled by people, including accounting jobs, will be supplemented or replaced in some way by intelligent machines
  • The accounting industry is already seeing a displacement of jobs through outsourcing and robotic process automation
  • By diving into LinkedIn analytics, it is evident that numerous, expanded career paths may exist for accountants in roles traditionally unrelated to finance and accounting
  • One-third of 1,120 randomly selected people with “accountant” roles in their LinkedIn profile have held a role unrelated to finance and accounting
  • Customer service, operations, and sales and marketing were all well-represented in the LinkedIn research
  • Additionally, positions in research, program management, consulting and business analysis stood out

The bottom line?  

The Genpact executives believe that accountants offer skill sets that can help address a wide array of business challenges and the future offers expanded opportunities for these professionals in non-traditional finance and accounting roles.

Read the full article here.


Is Flexible Work Driving the Future of the Workplace?

Will the day come when we all work as our own boss? 

The World Economic Forum held its annual meeting earlier this month and the future of work was a key topic of discussion.  The organization’s Global Future Council on Education, Gender and Work is presently crafting a document that addresses the question of how we facilitate the transition from the traditional form of work to the future state where work is more flexible.

Stephane Kasriel, CEO of Upwork and co-chair of the Global Future Council on Education, Gender and Work, recently shared the following perspectives on the future of work:

  • Entrepreneurs and freelancers represent the future of the workplace as traditional office jobs become less and less relevant
  • Lifelong learning is more important than ever before as skill requirements are constantly changing
  • There is a constant need to be reskilled and you need some kind of job renewal every five years or so
  • The workplace is moving towards more flexible arrangements where individuals are working with multiple companies at the same time
  • “Knowledge” work is especially aligned with more flexible work arrangements and can be done from anywhere, thereby creating more value than the traditional work model
  • The future of work is not going to be about full-time employment

Learn more about the future of work here.


“Crystallized Intelligence” + the Older Worker

The Croixstone Consulting team understands the benefits that highly-experienced professionals bring to the workforce.  A recently published brief from the Center for Retirement Research at Boston College illustrates how older workers, who are living and working longer than ever before, maintain productivity as they age.

The brief suggests that older workers make up for a decline in “fluid intelligence”—the ability to solve new problems—with “crystallized intelligence,” or the learned knowledge and experience they accumulate over the years.

Visit the Center for Retirement Research to learn more about cognitive aging and the ability to work here.


The Freelance Economy in 2017

According to a new study conducted by LinkedIn, freelancers now account for nearly 35% of the USA workforce…and the trend is only gaining traction with more professionals opting out of traditional “full-time” employment. 

The Croixstone Consulting team found the following survey findings of particular interest:

  • 40% of LinkedIn’s freelancers (the social networking site’s “ProFinder” members) are based in just four states (California, Florida, New York and Texas).
  • Marketing, Business Consulting and Design were the top 3 industries for freelance work in 2016.
  • Younger freelancers identified industry preferences centered on Writing, Photography and Home Improvement.
  • Older freelancers identified industry preferences focused on Career Coaching, Business Consulting and Real Estate.
  • 33% of all professional freelancers surveyed were male.
  • The average freelancer is an older male (nearly 50% of LinkedIn’s ProFinder members are older than 50).
  • The average hourly rate for freelance work averages $50-$150.

Gain more insights into the Freelance Economy here.