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Our consulting services address the most critical challenges and opportunities for our customers, covering strategy, market development, operations, technology advisory, financial and tax consulting, and sustainability across diverse industries and global markets. Services Our consulting services address the most critical challenges and opportunities for our customers, covering strategy, market development, operations, technology advisory, financial and tax consulting, and sustainability across diverse industries and global markets. Analytics Feyz International enables you to unlock the full potential of your data, regardless of its source or format. Our analytics specialists collaborate closely with you to address your toughest challenges, delivering rapid, actionable insights while empowering your team to develop lasting data expertise. Marketing Strategy Our team of international experts supports your pursuit of sustainable, organic growth by emphasizing three key elements: a customer-centric external strategy, an exceptional customer experience, and robust internal capabilities to optimize engagement at every interaction point. Cost Transformation True cost transformation involves streamlining, refocusing, and reinforcing your organization to support sustainable growth and enhance the customer experience. Our holistic, tailored approach helps you foster a culture of continuous improvement and effective cost management. Advisory Services Financial & Tax Advisory Restructuring Services * Transaction Services Financial Operations Corporate Tax Strategy International Tax Management *including portfolio & asset performance, financial stabilization, and turnaround management Risk & Compliance Advisory Regulatory & Compliance Technology Risk Management & Resilience Legal Advisory Dispute Resolution Legal Entity Management Commercial & Corporate Law Digital Law & Data Privacy Contract & Claim Management Advisory FDI and FPI in EEA and CIS Feyz International offers strategic advisory services to support international investors in structuring, executing, and optimizing their cross-border investments across EEA and the CIS. Our associates, backed by region-specific legal expertise, deliver actionable insights and compliance assurance - ensuring that your ventures align with local regulations and market dynamics. Market Entry Strategy & Regulatory Guidance Advisory on legal frameworks, investment protocols, and strategic considerations for seamless market entry and capital deployment. Business Formation & Tax-Efficient Structuring Turnkey support for establishing operational entities, subsidiaries, joint ventures, branches, or through M&A - tailored to your sector and goals. Compliance & Transaction Support Comprehensive counsel through each phase of the investment lifecycle, including documentation, due diligence, and risk mitigation. End-to-End Incorporation Services End-to-end assistance with registration, licensing, and regulatory filings with national and regional authorities. * Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) ** European Economic Area (EEA) and the Commonwealth of Independent States (CIS) Consulting Services Management Consulting Business Process Management Supply Chain Management Organizational Operations Digital Strategy Organizational Strategy Business Model Transformation Corporate Strategy Change Management Procurement Strategy Human Capital Strategy Learning & Development Market Development Consulting Digital Marketing Customer Experience Branding Sales & Channel Management Pricing Marketing Return on Investment Insights & Analytics * * including market research, CLV analysis, and predictive analysis Technology Strategy Consulting ERP & EAM Integration Technology Risk Management Data and Analytics Cybersecurity Trainings IT Strategy & Implementation Digital Transformation For additional information on our services, please contact our experts on : services@feyzinternational.com For existing customers and partners, please contact a Feyz International professional directly. Consulting

What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this?  Cybersecurity 2023: Cloud security is key issue for companies What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this? The results show that cloud security is the most important strategic security topic for 34% of companies in 2022 and 2023. Ranked second to fifth are secure backups/disaster recovery (20%), data security (19%), security awareness training (15%) and identity & access management (14%). Along with the strategic issues, there are also the top cybersecurity challenges faced by companies. Nearly two-thirds of respondents say their security landscapes have become more complex over the past twelve months. In addition, 69% expect complexity to increase further over the next twelve months. The top five security challenges for companies in Germany, Austria and Switzerland are security complexity (24%), data protection/privacy (21%), ransomware attacks (19%), cybersecurity skills shortage (18%) and security of networked environments (16%). Fifty-seven percent of respondents agree that they already have an urgent shortage of cybersecurity personnel or will have one in the coming year. Digital sovereignty is becoming more important The economic and political situation has made the issue of digital sovereignty more important for three out of four companies. For 26%, it is "much more important" with strategic implications, and for another 49%, it is at least "more important" with implications for day-to-day business. This also means that many companies see numerous benefits in digital sovereignty. For example, it helps respondents to shape their own transformation in a self-determined way, to strengthen the trust of customers and other stakeholders, and to promote collaboration with partners in increasingly digital ecosystems (60% each). The top 5 most common digital sovereignty challenges for companies are protecting and gaining visibility of data in clouds (31%), the cost of evaluating and adopting new technology (29%), expertise in dealing with cloud contracts and skilled employees to understand and implement individual digital sovereignty requirements (27%), the availability and cost of local compliance officers (25%), and dealing with competing requirements between regional and national jurisdictions (24%). Ransomware attacks are on the rise According to this study, 72% of companies in the German-speaking markets have been affected by ransomware. 40% have even seen an increase in cyberattacks over the past twelve months. Looking ahead, half of the respondents (50%) expect the number of attacks to increase even further. If a ransomware attack occurred, only 50% of companies were able to successfully defend against it. "To remain competitive and successfully develop their own business model, companies must respond to technological innovations and act with digital sovereignty," analyzes Frank Sauber, Global Head of Sales & Business Enablement, secunet Security Networks AG. "Besides self-determination and independence, this also means freedom of choice, for example in terms of providers, data protection or transparency. This gives companies more influence over what happens to their data and ultimately enables them to better protect themselves against cybercrime, sabotage or espionage. Companies are already complaining about the lack of skilled personnel and the complexity of the security landscape - this can only be mastered with independent partners and secure services. by Secunet, 12.07.2022 Source: Factiva

We offer a range of corporate events for C-level executives and business owners, from monthly Tech and Business Leadership Conferences for medium and large enterprises to exclusive annual IT Leadership Summits. Explore our events below to expand your professional network. Events We offer a range of corporate events for C-level executives and business owners, from monthly Tech and Business Leadership Conferences for medium and large enterprises to exclusive annual IT Leadership Summits. Explore our events below to expand your professional network. Upcoming Events Tech Leadership Conference 2025 About the Event Zürich, Switzerland Business Leadership Conference 2025 About the Event Paris, France IT Leadership Summit 2025 About the Event Milan, Italy Business Leadership Conference 2025 About the Event Brussels, Belgium Tech Leadership Conference 2025 About the Event London, UK IT Leadership Summit 2025 About the Event Istanbul, Turkey Upcoming Become our Sponsor! All attendees must submit an application and our corporate events managers will review all requests. If your application is approved, you will receive a confirmation email with more information on the event. Please note that only officially confirmed participants can attend the event. Access to the event is free* and open to individuals that meet at least one of the following criteria: - All C-level executives, SVPs, VPs and Directors from ( $1B+annual turnover ) commercial organizations - CIOs, CDOs, CTOs, CISOs, DPOs, IT Directors, CFOs, CMOs, SVPs and VPs from ( $250M-$1B annual turnover ) c ommercial organizations - CIOs, CDOs, CTOs, CISOs and DPOs from ( $25M-$250M annual turnover ) government, education, nonprofit and commercial organizations Eligible enterprises: - Large enterprises with (5,001+ ) employees - Medium enterprises with (1,001-5,000 ) employees - Small enterprises with (500-1,000 ) employees Event Registration Form To register, please take the time to fill out the information below. Company Size Continue * (some slots are open for an additional fee) There is no media and no presentation elements, it is an open and free flowing roundtable conversation. Form Testimonials " Feyz International IT Leadership Summit in Istanbul is clear and very useful for IT sector leaders. Thank you for all your efforts for this event. I was very happy to attend this event with industry leader executives. " Sait Reçber Data Management Senior Manager & CDO " This was a valuable event for IT leaders which gathered professionals and let them exchange knowledge and build relationships. It was a great experience for me and now I have highly experienced IT professionals in my network thanks to Feyz International. " Kıvanç Kantürk Chief Technology Officer " All the participants were great and I had a great time discussing various topics with different leaders. " Ata İsmet Özçelik Eastern Europe & Turkey Digital Director IT Leadership Summit / Tech Leadership Conference Technology is integral to our daily lives and increasingly central to the professional world. This invitation-only event aims to foster open discussions on what defines success for IT executives, providing practical tools and strategies to support both current and emerging leaders. We encourage participants to share their experiences and plans confidentially while hearing from inspiring, visionary speakers. The conference covers key topics such as artificial intelligence, fintech, cybersecurity, and the metaverse - critical areas shaping the future of technology. Attendees will have the chance to meet leading experts in cloud computing, big data security, customer service, and enterprise technology, expanding their networks and gaining valuable insights into expert services. Beyond the collaborative and open environment, this event promises to be engaging, enlightening, and highly productive. We look forward to your participation! ITLS/TLC Business Leadership Conference Following a challenging period, economies are gradually recovering, presenting a unique opportunity to rebuild stronger, more sustainably, and with greater responsibility. Our Business Leadership Conference is designed to unite leaders in a dynamic setting to explore fresh ideas and share valuable insights. With high anticipation for in-person engagement, Feyz International hosts this event at premier venues, featuring inspiring talks, relevant content, and meaningful networking opportunities. This conference offers a platform to identify practical solutions that drive business value. As emerging trends and innovative technologies reshape industries, companies must adapt to enhance efficiency and competitiveness. Attendees will engage in thoughtful discussions on pressing issues and gain actionable advice from distinguished keynote speakers. Expect an energetic, vibrant conference experience characterized by an open and engaging atmosphere. We look forward to welcoming you to these inspiring events! BLC Discover our Job Offers

Our team’s dedication and skills are essential to delivering outstanding value to our customers. We prioritize recruiting talented professionals, supporting their growth, and creating a collaborative environment that drives innovation and excellent service. Careers Our team’s dedication and skills are essential to delivering outstanding value to our customers. We prioritize recruiting talented professionals, supporting their growth, and creating a collaborative environment that drives innovation and excellent service. To discover our Job Opportunities, please contact our Talent Acquisition team on : careers@feyzinternational.com Career Management Our career management is based on progression from one level to the next and on trainings provided throughout your professional career. Feyz International has established a skill reference system for associates. It will allow you to identify your opportunities for further evolution. Roles at Feyz International We are looking for both aspiring and experienced candidates with skills such as being demanding, able to work under pressure, being creative and open-minded... Marketing - Brand Management 0 Positions Available Marketing - Digital Marketing 0 Position Available Corporate Compliance - Law 0 Position Available Corporate Compliance - Tax 0 Positions Available Corporate Events - Management 0 Positions Available Corporate Events - Customer Service 0 Positions Available Corporate Events - Coordination 0 Positions Available Partners - Management 0 Position Available Find more job offers on LinkedIn Job Search Talent Development The expertise and commitment of our executive management and associates, both at our headquarters and our branches, have been cultivated over time and remain central to our success in generating long-term shareholder value. Our talent development strategy focuses on building leadership capabilities, fostering a culture of responsible management, and recognizing high performance. We see professional training as essential for personal growth. Therefore, our goal is to continuously enhance skills that align with the evolving needs of Feyz International. Developing human resources remains one of our top priorities. Come work with us! Field you're interested in I agree to the terms of use Apply Now Our Talent Acquisition Team will get back to you, if your profile matches with our offers.

Paris Business Leadership Conference Transformation and Digital Executives Register Now! In-Person Event | 2023 Attending Companies Discover More Why Attend our Event? Exclusive Content – Trend-forward sessions – with tons of practical takeaways and ideas to keep you ahead in the digital space. Brilliant Speakers – Gain in-depth guidance from expert speakers on fine-tuning your technologies used, risk management and the industry best practices Network with leading solution providers – As a delegate, you will experience cutting-edge technology from solution providers that can fulfil your business requirements. Showcase of Technology solutions - Gather practical perspectives from many real-world use cases shared by the market’s leading players, including early adopters and leaders from across the region. Key Topics After the difficult past few years, economies are slowly being restored. This is an opportunity for us to build back better, more sustainably and responsibly. Our Business Leadership conference aims to bring leaders together to discover new ideas and exchange new insights. The expectations among our business pioneers are extremely high for reuniting physically, and this is why Feyz International is bringing the new Business Leadership conference to the best hotels which will be enriched with inspiring talks, relevant content and effective networking. This conference will give you an opportunity to recognize solutions that will bring value to your business. With the new trends and cutting-edge technologies, businesses need to adopt and adapt to them to increase their efficiency. Not only you will have the chance to brainstorm on current issues but valuable advice from keynote speakers will be brought forward. Talent, Culture & The Future of Work AI, Data & Analytics Metaverse, Blockchain & Cryptocurrencies Leadership & Business Transformation Cybersecurity, Data Protection & IT Risk Management Privacy & Ethics in a Digital Society The Agenda The event's dynamic agenda will take you through a series of roundtable discussions, real-life use cases, and dedicated industry tracks, giving you a bird's eye view of the current market situation, the latest technological innovations and strategies for propelling your organization to meet the unique challenges of these unprecedented times. Our Upcoming Events

It is estimated that by year 2025, individuals and businesses alike will produce about 463 exabytes of data per day globally and there will be an estimated 175 zettabytes of data in the global datasphereBusinesses use data for a variety of reasons; including but not limited to analyzing customer behavior, providing relevant ads, customer centric product trends and analyzing market value. A DAWN OF DATA REVOLUTION AND WHAT'S AT STAKE? It is estimated that by year 2025, individuals and businesses alike will produce about 463 exabytes of data per day globally and there will be an estimated 175 zettabytes of data in the global data sphere. Businesses use data for a variety of reasons; including but not limited to analyzing customer behavior, providing relevant ads, customer centric product trends and analyzing market value. Thus today data is imperative to a business. As a result most companies are increasingly focusing on their data policies, individuals and businesses are increasingly concerned about ethics surrounding data and privacy laws. But even as these laws emerge, the time taken to comply with these laws officially or unofficially is not very promising. In fact, in a report recently added to the net, it was disclosed that it takes companies about 62 days to discover a high severity data breach and another 71 days to disclose the said breach. Thus, purely relying on a business to do the right thing when it comes to data breaches and data privacy ethics is not enough. Kuber Signal is a company that wants companies to be held accountable/responsible by the individual for their data related decisions. The company quantifies privacy policies for other companies into a standard 4-point metric and a final Goodness score that's comparable across board and then shows these scores to the individual so they can decide what companies keep their data safe. The metrics are: 1. Personal Data Privacy Goodness Score 2.Behavioral Data Privacy Goodness Score 3.Technical Data Privacy Goodness Score 4. Data Sharing Goodness Score Each metric measures how much of an individual data is stored, used and shared by the Company, that individual is a customer of the company then shows what companies in the same industry, selling the same product, rank higher than the individual's company of choice. The company can also track public information around other companies and aims to provide users with the right tools and information so an individual can stay up to date with their specific security concerns, be it companies or other security threats and make better informed choices. Kuber Signal ultimately provides the user with a privacy score that can help them evaluate them online behavior and help mitigate their data related threats. Kuber Signal is founded by a Data Scientist and a cyber-security expert whose expertise lies in investigating brands for their security posture using AI algorithms. The mission of the company is to ensure an individual is aware of their security posture and a know-how into how to improve it. The company also provides individual security assessment, cyber news and information on relevant scams in the individual's playground. In conclusion, data privacy and ethics have never had more value than in recent and coming years. Today a data breach is nothing less than a home invasion of yesterday. This may sound extreme but almost every bit of useful information about a person is somewhere on the internet with some company whose 'terms and conditions' the customer didn't read and if a malicious actor gets access to that data, the consequences for the individuals can be devastating. by P. Observer, 07.12.22 Source : Factiva

Stay informed with timely updates and training on the latest legislative changes and industry trends. Explore the newest resources and developments from Feyz International and our network of partner companies. Insights & News Stay informed with timely updates and training on the latest legislative changes and industry trends. Explore the newest resources and developments from Feyz International and our network of partner companies. What's New THE ROLE OF VENTURE CAPITAL SECURITIES IN ENTREPRENEURSHIP For entrepreneurs to flourish, they need funding: venture capital is financial capital provided to early-stage, high-potential, high-risk, growing entrepreneurial companies. Venture capital is particularly attractive for... CYBERSECURITY 2023: CLOUD SECURITY IS KEY ISSUE FOR COMPANIES What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this?... Load More Latest Publications CONSUMER FINANCE IN THE DIGITAL AGE: LEVERAGING BIG DATA AND TECHNOLOGY TO PERSONALIZE PROTECTION Have you ever wondered why consumers tend to make suboptimal financial decisions, and why financial firms are often in a position to exploit them? Clearly, this is due in part to consumers’ biases and limited rationality... BIG DATA AND THE LEAN STARTUP APPROACH AS TOOLS FOR INNOVATION IN LARGE FIRMS Can larger firms face and survive the challenge of startups? The one question that comes to mind these days is whether they are still capable of fostering innovation... SOCIAL ACCOUNTING: A TOOL FOR MEASURING CORPORATE SUSTAINABILITY Corporate social responsibility is an increasingly popular topic in the corporate world and beyond, highlighting a need for best practices and a stronger understanding of what it really means to be a sustainable business... EU SUSTAINABLE GROWTH REGULATIONS: THE CHALLENGES OF TRANSPARENCY, COMPARABILITY, AND LEADERSHIP With the European Green Deal of December 2019 supporting long-term signals to support green investments, and the proposed European Climate Law as a framework for... Load More

From accelerating sales to optimizing operational processes, digital impacts the value chain in every aspect. If the digital revolution generates an inevitable modernization of companies and a hope of value generation, it also provokes a major challenge for organizations: Data. SUSTAINABLE DEVELOPMENT THANKS TO THE DATA FOOTPRINT Since the start of the COVID-19 pandemic, companies have had to accelerate their digital transformation. This implies increased investments, so substantial that they require C-level support. The stakes are high for organizations. From accelerating sales to optimizing operational processes, digital impacts the value chain in every aspect. If the digital revolution generates an inevitable modernization of companies and a hope of value generation, it also provokes a major challenge for organizations: Data. Data from transactions, customers, products, etc. invades the daily operations of organizations, constituting a potentially valuable asset, but above all an important challenge in terms of governance and management. Organizations must increase the understanding of these data as part of their transformation. In the very short term and in an uncertain time, data becomes more crucial than ever to identify the levers of performance of companies. Optimizing costs, increasing business revenues, and driving process efficiency are all initiatives based on the availability of relevant data. As the decision cycles accelerate, many decision-makers will no longer be able to drive their businesses with approximate and often inaccurate data. Having good data - and just in time - has become a pressing necessity. But this prospect seems attainable only if the data heritage is better mastered. This is precisely the purpose of the "Data Footprint" method designed by Kearney and Essec. Evaluating the data footprint now constitutes an essential approach to secure investments and increase control over data assets. The Data Footprint approach introduces a virtuous practice that aims to understand the data heritage, risks, challenges and limits linked to data within organizations. The Data Footprint is an evaluation process based on a 360° analysis of the data required as part of a company initiative steered by the entity in charge of Data Governance. The aim of the Data Footprint is to assess the data assets to establish a risk assessment score. Based on multiple dimensions of analysis such as data quality or security, our method allows a quantified assessment of the data heritage in an organization. Today, the data heritage is still poorly controlled and exploited in many companies. What is the quality level of critical data sets in the organization (e.g customers/suppliers’ data)? What is the level of risk associated? What is the degree of control and ownership of data in the organization? These questions are often asked by decision makers without concrete answers based on a structured assessment. The complexity of information systems combined with the lack of governance make the data equation often complex and costly. The Data Footprint allows companies to get a tangible data assessment across multiple dimensions in order to establish a risk score. The purpose of such a measure is to be able to accurately assess areas of weakness and to monitor data heritage improvements. The approach also allows internal and external benchmarks based on a standardized analysis grid. The strategy for implementing a Data Footprint should be progressive while focusing on the critical data sets in the context of companies’ major programs, projects or business transformation initiatives. The approach should involve several collaborators, at least representatives of business lines and IT, who jointly use a score sheet based on the following five dimensions:accessibility and availability,quality, ownership,risks, and identification of the future users. The overall score calculated on these five dimensions can range between 0 and 15, the lower the score the higher the risk related to the enterprise initiative. Consider as an example a company specializing in the distribution of electronic equipment to the general public through its distribution network of more than 2,000 stores. As part of its data strategy, the company decides to launch a priority project that deploys a “Customer-centric” approach in order to increase customer value. The objective is to capture a better understanding of customer preferences in order to meet their expectations. The company anticipates a significant potential risk linked to data (availability, quality, etc.) and decides to launch a Data footprint approach. The total Data risk score for this company was less than 5 in the evaluation exercise. On the recommendation of the Chief Data Officer in agreement with the rest of the team, the decision to launch the project is postponed pending the implementation of a specific data related action plan. This approach allowed the company to apprehend a major risk related to data on this project. Indeed, a rapid launch of this project without prior assessment would have potentially led to failure with economic consequences (losses estimated at a few hundred thousand euros). The approach also made it possible to initiate collaborative work around the data over the entire duration of this assessment (one month), and thus avoiding internal misunderstandings about the responsibilities of the various stakeholders (Business lines, IT teams, etc.). Finally, a clear action plan could be drawn justifying the investment of technical and human resources to upgrade the information system. by Jeroen Rombouts , 19.10.20 Source : Knowledge Lab Essec

Feyz International is part of the Feyz Global group that operates in multiple countries around the world. The group’s core expertise has traditionally focused on international trade development with a special emphasis on business in Europe and Africa. Additionally, the group offers functional competencies in financial services, investment advisory, event management, and business consulting. Our Company Feyz International is part of the Feyz Global group that operates in multiple countries around the world. The group’s core expertise has traditionally focused on international trade development with a special emphasis on business in Europe and Africa. Additionally, the group offers functional competencies in financial services, investment advisory, event management, and business consulting. Our Values Our Community Creating a positive future for humanity is within reach. Across all sectors of society, building a better tomorrow depends on unlocking potential and resourcefulness. That’s why we dedicate our time and expertise to supporting communities and inspiring individuals, especially those facing challenges - to become the innovators and leaders of the future. Our Organization Our History 2018 Established Feyz & Co LLC in Paris Service operations start in France Managed our 1st major consulting project 2020 Service operations end in France due to COVID-19 Dissolved Feyz & Co LLC 2021 Established Feyz International LLC in Moscow Service operations start in Russia 2022 Opened a branch office in Paris Service operations end in Russia Headquarters location changed 2023 Service operations start in Turkey Organized our 1st major corporate networking event 2024 Opened subsidiaries in Zug and Gland (Vaud) Service operations start in Switzerland

Istanbul IT Leadership Summit IT and Data Executives Register Now! In-Person Event | January 12, 2023 Attending Companies Discover More Why Attend our Event? Exclusive Content – In-depth, trend-forward sessions – with tons of practical takeaways and ideas to keep you ahead in the IT space. Connections – Hundreds of seasoned IT decision makers, cyber security experts, strategists, risk managers, data heads, marketers, and more to mingle and connect with. Meet your customers, vendors, expert resources, friends and colleagues. Network with leading solution providers – As a delegate, you will experience cutting-edge technology from solution providers that can fulfil your business requirements. Showcase of Technology solutions - Gather practical perspectives from many real-world use cases shared by the market’s leading players, including early adopters and leaders from across the region. Key Topics Technology is part of our daily lives and even more so in our professional environment. The goal of this invitation-only event is to encourage discussions and dialogue on what it means to be a successful IT executive and to provide tools and strategies to assist current and emerging leaders. We urge our leaders to confidentially share their experiences and plans while hearing from inspirational and visionary speakers. We explore and share the main topics amongst which artificial intelligence, fintech, cybersecurity and the metaverse are the most popular. We encourage you to come and meet some of the biggest players when it comes to cloud computing, big data security, customer service and enterprise technology. Coming together will not only expand your networks and knowledge, you can meet the industry specialists and learn more about their expert services. Innovation & Emerging Technologies Cybersecurity, Data Protection & IT Risk Management Metaverse, Blockchain & Cryptocurrencies Leadership & Business Transformation AI, Data & Analytics Cloud, Infrastructure & Operations The Agenda The event's dynamic agenda will take you through a series of roundtable discussions, real-life use cases, and dedicated industry tracks, giving you a bird's eye view of the current market situation, the latest technological innovations and strategies for propelling your organization to meet the unique challenges of these unprecedented times. Our Upcoming Events

Employees who take a proactive approach at work – who speak up with suggestions, try to bring about improvements, and take initiative – generally perform better, are more satisfied with their job, and progress more quickly in their career. For organizations, a proactive workforce which anticipates changes and is willing to contribute to innovation is seen as a competitive advantage. So how can organizations encourage employees to be more proactive?  HOW TO BUILD A PROACTIVE WORKFORCE: TRAINING PROBLEM SOLVERS OR STRATEGIC CHANGE AGENTS? Employees who take a proactive approach at work – who speak up with suggestions, try to bring about improvements, and take initiative – generally perform better, are more satisfied with their job, and progress more quickly in their career. For organizations, a proactive workforce which anticipates changes and is willing to contribute to innovation is seen as a competitive advantage. So how can organizations encourage employees to be more proactive? Previous research has highlighted two potential avenues for organizations wishing to increase the proactivity of their workforce: hiring new human resources with particular personalities and skills sets, or changing the work context, for example by enriching existing employees’ work. However, these strategies often encounter two issues that may block their implementation: the lack of opportunity to hire due to difficult economic or budgetary contexts, and the lack in means and resources to enrich job roles. It therefore falls to training and development to offer a feasible approach to promoting employee proactivity. Indeed, in the United States alone, organizations spent over $165 billion on employee training and development in 2013. But how should training approaches aimed at encouraging proactivity in the workforce be designed? And which training approaches are most effective for employees with different needs and priorities? Karoline Strauss, together with Sharon K. Parker of the University of Western Australia, decided to carry out research to address these questions. “It was clear to us that the training approach an organization should take would depend on the type of proactivity it is looking for in its employees”, says Prof. Strauss. The researchers suspected that a different training approach would be needed to encourage employees to become proactive in solving problems they encountered in their day-to-day work, or to encourage them to involve themselves in strategic change and become proactive in shaping the future of the organization. The researchers developed two distinct training interventions focused on encouraging these two types of proactivity. The researchers then recruited 112 volunteers from a police force in the North of England. The volunteers were randomly allocated to one of the two training approaches, or to a third group that received no training whatsoever. “To test whether the training approaches were effective in promoting proactivity, we compare employees who took part in the training to employees in this third group”, explains Prof. Strauss. “This means that we can rule out that employees throughout the organization became more or less proactive because of other changes that took place during the time of our study”. The researchers then tracked employees over 9 months to see if their proactivity increased. The findings showed that both training approaches were potentially effective in encouraging employees to be more proactive, but that employees’ needs and preferences determined whether the training worked for them. Prof. Strauss’s findings showed that employees faced with a high workload were most likely to respond positively to the training approach aimed at encouraging them to be proactive problem solvers. “These employees felt swamped by the demands they were facing”, states Prof. Strauss. “We succeeded in training them to approach their job in a more proactive way and take charge of challenges and obstacles they were facing”. Training these employees to identify problems in their job and to develop ways to address these problems helped them to find more efficient ways of completing their day-to-day tasks. On the other hand, the training approach aimed at encouraging employees to become more proactive in shaping the future of the organization was most effective for those who are generally more focused on long-term rather than short-term benefits. Employees who were more interested in the short-term did not respond to the training approach in the same way – they did not become more proactive. “Our findings really show that there is no one-size-fits-all approach to proactivity training”, explains Prof. Strauss. “For organizations who want to enhance proactivity in their workforce this has two important implications. First, what kind of proactivity do they expect? Do they want employees to become proactive in overcoming obstacles and finding more efficient ways of working, or do they want employees who think about the long-term future and about strategic change at the organization level? Second, organizations need to consider the situation the employee is in. What are the employee’s needs and preferences? Pushing somebody who is generally not very interested in the long-term to contribute to bringing about a vision of the organization in the future is unlikely to be effective in making them more proactive, and our findings suggest that it can even backfire”. Prof. Strauss’s work has been recognized for the strength of its experimental design which rules out alternative explanations for changes in employee proactivity. However, she suggests that more research is needed on the effects of training interventions on employee proactivity. “Our study is an important first step in determining which type of training approach can be effective in encouraging employees to be more proactive, and who is most likely to respond positively to the training. But can we, for example, combine the different training approaches, and are there other ways in which employees and organizations can benefit from proactivity training?” Further research will need to explore these questions in other organizational settings. by Karoline Strauss , 03.10.16 Source : Knowledge Lab Essec

Every day brings with it the news of yet another company falling victim to a cyberattack. The costs the affected businesses face are enormous: lost critical data, stolen assets and damaged reputations.  Why cyber risk assessments should be a part of your business strategy Every day brings with it the news of yet another company falling victim to a cyberattack. The costs the affected businesses face are enormous: lost critical data, stolen assets and damaged reputations. But despite these very real threats, company leaders may resist committing the necessary resources to prevent them. After all, no one wants to pay for more than they need. This goes for cybersecurity as much as any other business expense. That’s why it’s vital for C-suites to include cybersecurity as part of their capital planning. And the key to that is determining what “just enough security” is for the organization to meet its business goals. What’s the best way to determine how much security is “just enough”? Most C-level executives are accustomed to making overall business decisions based on risk. An effective risk management program identifies true risks to the business and determines how to reduce those risks to an acceptable level. Including an acceptable level of cyber risks into the organizational risk management program makes cybersecurity a part of the overall business strategy. And the best way to do this is to undergo a cybersecurity-related risk assessment. This helps translate the costs of what it could take to prevent unacceptable levels of cybersecurity risks or to reduce them to an acceptable level. These costs can then be included in budgetary calculations and overall risk management plans. According to the SANS Institute , “the ability to perform risk management is crucial for organizations hoping to defend their systems. There are simply too many threats, too many potential vulnerabilities that could exist, and simply not enough resources to create an impregnable security infrastructure. Therefore every organization, whether they do so in an organized manner or not, will make priority decisions on how best to defend their valuable data assets. Risk management should be the foundational tool used to facilitate thoughtful and purposeful defense strategies.” Many frameworks and industry standards, such as those offered by the National Institute of Standards and Technology (NIST) and ISO, provide guidelines for conducting risk assessments and implementing controls (best practices) to mitigate or prevent security risks. In general, risk assessments help organizations determine their inherent security risks by doing the following: Identifying, estimating, and prioritizing risk to their operations. Determining the possible threats from bad actors that can compromise the confidentiality, integrity, or availability of the information they are processing, storing, or transmitting. Identifying what measures or controls are in place to protect the critical assets and what measures/controls are lacking. Following recommending preventive measures and investing in security upgrades to reduce high levels of risk. What does this mean? It depends on the type of business. Because as these examples show, not all risks are created equal. A bank storing and processing large amounts of financial data or a hospital maintaining extensive patient records would be very concerned with the confidentiality of their data and the damage to their customers and patients if hackers accessed or leaked it. A risk assessment could tell them that they need to prioritize their resources toward protecting the confidentiality of their data with privacy-related controls and other security measures. The risk assessment might also indicate that they are vulnerable to a ransomware attack, so they should implement a recovery plan and perform daily and weekly system backups. But the risk assessment may indicate there is less risk to the availability or integrity of their data, so they would not need to invest as much in these areas. Researchers developing intellectual property may be concerned both about outside actors wanting to steal their discoveries or insiders willing to sell them to competitors. The risk assessment might indicate that they are indeed vulnerable to such attacks. So they might prioritize increasing resources on instituting protective, access and monitoring best practices . They might also invest in awareness training to educate staff on recognizing phishing emails and other social media campaigns as well as internal threats. The risk assessment could suggest they have fewer risks to the confidentiality of this data, so they would not concentrate resources on protecting this area. Once company leaders have identified the critical assets they most want to protect, have an idea of what cyber threat might attack these assets and how vulnerable their assets are to an attack, and understand how severe such an attack would be to their ability to function, they can make informed decisions on how to target their resources toward addressing the risks with the most significant impact to their business. A risk assessment turns intangible concepts such as security, risk, and prevention into tangible realities with actual costs attached. Undetected/unprevented cyberattack equals financial ruin. And that’s an inevitability that every C-suite must face in today’s interconnected world. by Baan Alsinawi , 05.11.21 Source: www.securitymagazine.com