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Inflation's on the rise - can it be reigned in for 2022?
It seems the cost of everything is going up. For most Americans, filling up your car and filling up your grocery cart are now noticeably more expensive. Costs of goods are going up and that's taking a toll on the cost of living for a lot of people across the country. But what's causing the prices of goods and services to creep upwards - and what will it take to tame the upward trend that has inflation at its highest rate in more than 30 years? Recently, Andrew Butters and Kyle J. Anderson from Indiana University’s Kelley School of Business sat down with Indiana NewsDesk to help explain what's going on. Inflation might be the one the leading news stories of 2022 - and if you are a reporter looking for answers - then let us help with your coverage. Andrew Butters is an Assistant Professor of Business Economics and Public Policy at Indiana University’s Kelley School of Business. He is also an expert in the areas of industrial organization, productivity, market integration, demand and business cycles. Kyle J. Anderson is a Clinical Assistant Professor of Business Economics. He is an is an economist researching business and pricing in online environments. Both Kyle and Andrew are available to speak with media regarding this important topic – simply click on either expert's icon now to arrange an interview today.
The Case for Career Advocates: An Organization Is Not a Meritocracy
“This blog post is the first in a three-part series that summarizes the key messages I deliver to my students, in the hopes that it can catalyze and support the career success of a broader group of ambitious employees who aspire to make it to the C-Suite,” writes Renee Dye 94PhD, associate professor in the practice of Organization & Management. “Most of my lessons are derived from my own unlikely personal journey from literary scholar to top-tier management consultant to C-suite executive for a publicly traded company, but they are also heavily informed by leading researchers like Sylvia Anne Hewlett. In the final blog, I discuss the impact of remote work on career success.” One of the paradoxes of the Gen-Zs and Generation Alphas is their intuitive understanding of the phenomenon of social media…at the same time they maintain an almost ideological conviction that the workplace – apart from systemic biases – is otherwise a meritocracy, where talent is perfectly and objectively evaluated – and the best and most deserving rise to the top. Surely a cursory exploration of Instagram and TikTok would convince even the most skeptical of the fundamentally idiosyncratic nature of success in a networked world? The Real World is likewise characterized by outcomes in which success is imperfectly correlated with capability level. Someone whose capability level is less than yours may lap you in the race to the top of the organization. That may seem unfair, but that’s because you’re making the mistake of assuming that career success is predicated purely on capability. A survey of MBA graduates from my school a few years ago produced a startling insight: of all the skills that we provided to our students during their MBA tenures, our students felt most unprepared to navigate “organizational politics” in their careers. The reason that I found this fact so astonishing is that today’s students, who are Digital Natives and in part Social Media Natives, are the most connected and self-promoting generation the world has ever seen. Yet today I find that my students continue to exhibit little practical understanding of how career success is forged…so much so that I now devote an entire class session in my core Strategy class to demonstrating the importance of relationship management and advocacy cultivation. Capability is not unimportant; far from it. As I tell my students, though, capability is table stakes these days as the level of education and skill sets continues to advance among individuals. If you’re not smart and capable you’re not getting in the door. But once you’re in, your career path and ultimate career success will be more determined by (1) your level of aspiration and unflagging commitment to achieving your goals; (2) your performance outcomes in your individual roles; (3) your work ethic and conscientiousness; and (4) the relationships you have with other people within your organization. And the relationships that matter the most are the individuals with influence and power over your future career opportunities. Let me put it starkly: without career advocates (notice the plural), it will be much, much harder to make it to the senior management ranks. Full stop. Some facts to bear this assertion out: • People with advocates are 23% more likely to move up in the careers • Women with advocates are 22% more likely to ask for a stretch assignment to build their reputations as leaders Ultimately, having an advocate confers a career benefit of 22-30%, depending on who’s doing the asking and what they’re asking for. That’s increasing your odds of making it to the C-Suite by nearly a third! If anecdotal evidence is more your thing, here are a couple of quotations for you: • A lot of decisions are made when you are not in the room, so you need someone to advocate for you, bring up the important reasons you should advance” (Catalyst Survey, as quoted in Elizabeth McDaid, “Mentor vs. Sponsor,” September 3, 2019) • When you get to the level in your career when decisions are not just being made by an individual manager, feedback from other leaders becomes crucial. Rosalind Hudnell, Chief Diversity Officer, Intel. As quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) • “I was great at building businesses and had tons of cheerleaders, but I had that typical Asian keep-your-head-down-and-you’ll-get-taken-care-of mindset.” My boss had to take me aside and tell me that if I didn’t actively cultivate her as my sponsor, I would never progress beyond senior associate” (quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) To reiterate: an organization is not purely a meritocracy where talent and hard work speak for themselves; and it’s much, much harder to advance within an organization without effective advocates. Renee Dye is an Professor in the Practice of Organization & Management at Goizueta Business School. For more insight and to continue reading this article and series, please visit Dye’s blog. To arrange an interview – simply click on Dye’s icon now to book a time today.
When investors are deciding whether to put their capital into a company, they typically take a breadth of different factors into account. Earnings, performance, market share—all of these are critical, for sure. But equally important is belief in the talent and capabilities of the organization, and its most visible human face: its CEO. How a CEO comes across at key touchpoints such as earnings calls can significantly shape investors’ perceptions of his or her abilities. We know from research that even subtle things like tone of voice can increase—or diminish—shareholder confidence. So, too, can subliminal emotional or behavioral cues in speech. But what about something arguably more obvious and easier to quantify? What about accent? Until now, remarkably little attention has been given to how much sway a CEO’s accent has on investors’ impressions or attitudes. We simply don’t know whether chief executives with “foreign” accents fare better or worse with shareholders than native US-English speaking counterparts. And this subject matters. It’s estimated that as many as 9% of all companies in the US and more than 11% of Fortune 500 firms are run today by foreign-born chief executives. How investors perceive these CEOs relative to native speakers could have major implications for hundreds of thousands of organizations. Shedding compelling new light on this is new research by Goizueta PhD candidate Leonardo Barcellos, and Schaefer Chaired Professor of Accounting Kathryn Kadous. Together they have produced a study that suggests that accent does matter – though perhaps not in the way that many of us might think. That study and the entire article is attached – and well worth the read. And if you are a journalist looking to learn more about this topic – then let our experts help. Kathryn Kadous is the Schaefer Chaired Professor of Accounting and Director and Associate Dean of PhD Program at Goizueta Business School. She is available to speak with media – simply click on her icon now to arrange an interview.
Ray A. Blackwell, M.D., MJ, chief of Cardiac Surgery and the W. Samuel Carpenter, III, Distinguished Chair of Cardiovascular Surgery at ChristianaCare, received the 2021 Tilton Award from the Medical Society of Delaware on Oct. 28 at the Tilton Mansion, now the University & Whist Club in Wilmington, Del. The award recognizes Dr. Blackwell as a pre-eminent cardiac surgeon the past 21 years and for his life-long commitment to service for the betterment of patients, the local community and the nation. The award is named for James Tilton, M.D., the first U.S. Army Surgeon General of the United States and the first president of the Medical Society of Delaware. “Dr. Blackwell is an outstanding choice for this prestigious award,” said Kirk Garratt, M.D., medical director of ChristianaCare’s Center for Heart & Vascular Health. “He has given a great deal to his patients, his colleagues and his profession. His strong leadership and clinical expertise have led to optimal health and an exceptional experience for many patients in our community. In addition to being an excellent surgeon, Dr. Blackwell has been dedicated to driving innovations that improve patient outcomes and has been committed to finding ways of keeping patients healthy and preventing cardiovascular disease.” Since joining ChristianaCare in 1996, Dr. Blackwell has been recognized among the top cardiac physicians in our region and has been instrumental to the development of the cardiac surgery program. In 2011, he became the surgical director of the Mechanical Circulatory Support Program and led the initiative to establish Christiana Care’s Ventricular Assist Device Program. In 2017 he was named Chief of Cardiac Surgery and has since led the health system’s team of highly skilled and experienced heart surgeons who perform more than 700 heart surgeries each year. Dr. Blackwell is a clinical assistant professor of Surgery at Sidney Kimmel Medical College of Thomas Jefferson University. He served as the chair of ChristianaCare’s Blood Pressure Ambassador Advisory Committee. Dr. Blackwell has dedicated his life to service of others, especially on behalf of underprivileged and underrepresented people. As a high school student, he participated in A Better Chance Program, which places underprivileged, underrepresented and underfunded students in better academic environments. He is still active with the organization. He also served on the minority admissions subcommittee and later became a regional recruiter for Dartmouth College and Dartmouth Medical School. In 2019, he received a lifetime achievement award as part of a Dartmouth College celebration, “Standing at the Threshold,” honoring Dr. Martin Luther King Jr. Dr. Blackwell also received the Raising Kings award in 2018 from the One Village Alliance, an agency dedicated to elevating positive images and setting high expectations for Wilmington’s Black men and boys, He is a regional alumni council member of National Medical Fellowships, which funds underrepresented and underfunded medical students and is co-founder of the Association of Black Cardiovascular and Thoracic Surgeons, which supports and develops upcoming and practicing cardiothoracic surgeons. He has also held numerous leadership board positions for Delaware organizations, including the Delaware Medical Education Foundation, the Delaware Board of Medical Licensure and Discipline, the New Castle County and Great Rivers Affiliate Boards of Directors for the American Heart Association. He is also a board member of the Friends of Hockessin Colored School 107C and Indoor Track Delaware. Dr. Blackwell is also a recipient of the James H. Gilliam, Jr. Award from the American Heart Association for his contributions to the health, welfare and benefit of the community.
ChristianaCare Named a “Most Wired” Health Care Technology Leader for 6th Consecutive Year
ChristianaCare Recognized as one of the Nation’s Best in Both Ambulatory and Hospital Care (WILMINGTON, Del. – Oct. 29, 2021) For the sixth consecutive year, ChristianaCare has earned the “Most Wired” designation from the College of Healthcare Information Management Executives (CHIME), which assesses how effectively health care organizations apply core and advanced technologies to improve health and care in their communities. ChristianaCare was recognized with a Performance Excellence Award for Most Wired’s acute and ambulatory categories. That level is reserved only for organizations that are considered leaders in health care technology who “actively push the industry forward.” The recognition affirms that not only has ChristianaCare implemented advanced technologies, but it leverages those technologies in innovative ways. And it also has encouraged deep adoption of these technologies across the entire health system. “Throughout the COVID-19 pandemic, patients and providers have experienced the power of virtual care and the ability for data and technology to improve the health care experience,” said ChristianaCare President and CEO Janice E. Nevin, M.D., MPH. “At ChristianaCare, we believe now is the moment to transform our health care system to a new model of care that doesn’t stop between appointments—it’s continuous, data-driven and technology-enabled. We’re proud to be recognized as a leader in health care innovation, as we work to achieve better health at lower costs.” “We are driving digital into the core of our existing operations and simultaneously creating new digital product offerings,” said Randy Gaboriault, MS, MBA, chief digital and information officer at ChristianaCare. “The concept of the visit as the primary point of interaction between patient and doctor is obsolete. Our unique care foundation is continuous, digital and in the home, driving care with data and producing engagement actions between the visits. Our goal is for the care team, supported by artificial intelligence within the workflow, to determine the next best action for each patient.” The recognition is the latest accolade that highlights ChristianaCare’s success in creating exceptional experiences for its patients and consumers through personalized, proactive communication, which enables people to use the channels that they prefer in order to easily access care. This success was recently illustrated through ChristianaCare’s integration of clinical data with its new customer relationship management (CRM) system, which enabled ChristianaCare to scale and automate outreach to patients due for important preventive health checks. Through this effort and the new capabilities, ChristianaCare initiated patient and consumer outreach to address two common gaps in care – annual wellness checkups and breast cancer screenings. Continuous and automatic, the outreach within weeks resolved 11% of the gaps in annual wellness checkups, and 8% of the gaps in breast cancer screenings. “Success here stems from our commitment to continuously look for opportunities to innovate, from which we can more quickly and effectively partner with each individual on their path toward optimal health, even as we explore new ways to push the boundaries of how technology can further improve the health of our community,” said Lynne McCone, vice president of IT Application Services at ChristianaCare. The 2021 Digital Health Most Wired program assessed the adoption, integration and impact of technologies in health care organizations at all stages of development, from early development to industry-leading. Each participating organization received a customized benchmarking report, an overall score and scores for individual levels in eight segments: infrastructure; security; business/disaster recovery; administrative/supply chain; analytics/data management; interoperability/population health; patient engagement; and clinical quality/safety. Participants can use the report and scores to identify strengths and opportunities for improvement. Participants also received certification based on their overall performance. “Digital transformation in healthcare has accelerated to an unprecedented level since 2020, and the next few years will bring a wave of innovation that empowers healthcare consumers and will astound the industry,” said CHIME President and CEO Russell P. Branzell. “The Digital Health Most Wired program recognizes the outstanding digital leaders who have paved the way for this imminent revolution in healthcare. Their trailblazing commitment to rapid transformation has set an example for the entire industry in how to pursue a leadership vision with determination, brilliant planning and courage to overcome all challenges.” About ChristianaCare Headquartered in Wilmington, Delaware, ChristianaCare is one of the country’s most dynamic health care organizations, centered on improving health outcomes, making high-quality care more accessible and lowering health care costs. ChristianaCare includes an extensive network of primary care and outpatient services, home health care, urgent care centers, three hospitals (1,299 beds), a freestanding emergency department, a Level I trauma center and a Level III neonatal intensive care unit, a comprehensive stroke center and regional centers of excellence in heart and vascular care, cancer care and women’s health. It also includes the pioneering Gene Editing Institute. ChristianaCare is nationally recognized as a great place to work, rated by Forbes as the 5th best health system to work for in the United States and by IDG Computerworld as one of the nation’s Best Places to Work in IT. ChristianaCare is rated by HealthGrades as one of America’s 50 Best Hospitals and continually ranked among the nation’s best by Newsweek and other national quality ratings. ChristianaCare is a nonprofit teaching health system with more than 260 residents and fellows. With its groundbreaking Center for Virtual Health and a focus on population health and value-based care, ChristianaCare is shaping the future of health care.
Corporate Social Responsibility Builds Investor Trust
There’s little doubt that corporate social responsibility (CSR) is a good thing for businesses. Whether it’s taking positive action on society, communities, the climate, or the planet, strong corporate citizenship tends to play well with the public, the media, and consumers alike. And that can translate into wins in terms of brand equity and reputation. What is perhaps less clear are the concrete business returns that ethical business practices may or may not generate. Or, whether doing the right thing can create value for firms beyond image, brand, and customer or employee engagement. To shed light on this, Goizueta Assistant Professor of Accounting Suhas A. Sridharan, has taken a rather novel approach. Together with colleagues from the universities of LUISS Guido Carli, Nazarbayev University, and IDC Herzliya, Sridharan has published a new study using measures of disclosure credibility to understand whether CSR builds investor trust and drives tangible benefits for corporations. Corporate Social Responsibility Does Reap Rewards “Disclosure credulity refers to how much your investors trust the information your organization provides – how much faith they have in your company’s ability to accurately convey opportunities for growth, and perhaps more critically, to navigate risk and uncertainty,” says Sridharan. “Because CSR and responsible business practices have a role in addressing a range of risks–from climate change and environmental factors to socio-economic or political uncertainty and the impact on supply chains, talent and so on–we reasoned CSR can impact investor trust and disclosure credibility. And disclosure credibility, in turn, can impact investor decision-making and business outcomes.” To study disclosure credibility, and capture shifts in investor sentiment towards firms, Sridharan and her colleagues decided to use the link between share prices and company earnings announcements–the public statements on profitability that firms are obliged to make over different periods. “Earnings announcements are among the most salient and recurring areas of corporate disclosure, and managers and investors pay very close attention to them,” Sridharan says. “Because of the nature of the information they contain, they have a direct link to security price discovery – the price that firms and investors will agree to buy and sell shares in the company. Simply put, earnings announcements can be used to examine how much investors value a firm.” As reports, earnings announcements are also highly complex and typically time-consuming to process. Because of this, Sridharan and her colleagues opted to look at just how quickly or slowly investors were reading announcements and responding to them – and how quickly or slowly stock prices were adjusting to reflect earnings news within a five-day window after earnings announcements, as well as a longer period to allow for potential overreaction or error. More Disclosure Credibility Equals Faster Results Sridharan explains, “The intuition we brought to the study was that the more investors trust a firm’s disclosures, the more efficient or faster they will be to process its earnings report; in other words, the more they will be likely to take the report on face value and less inclined to dig into the finer minutiae or question its findings.” Adopting this approach, she and her colleagues then compared and contrasted investor response to earnings reports from different firms, with greater or less involvement in CSR activities. In total, they looked at a large-scale sample of more than 19,000 annual earnings announcements from just under 3,000 U.S. firms over a 25-year period, between 1992 and 2017. Using Morgan Stanley Capital International environmental, social, and governance ratings, they were also able to determine the degree of firm-level CSR across their dataset during this period. Crunching the numbers, Sridharan and fellow researchers were able to arrive at a concrete conclusion: CSR measurably increases investor trust and disclosure credibility. “When we estimated our regression models, we found clear evidence that corporate social responsibility does indeed contribute to the average speed of price discovery around earnings announcements; and it does so positively. Our results reveal that CSR increases the speed with which stock prices incorporate earnings news. Breaking it right down, we see that a one unit increase in CSR activities corresponds to 1.96 percent increase in the average timeliness or efficiency of reported earnings.” In other words, investors are reacting more quickly and favorably to performance reports made by organizations with more demonstrated social responsibility. “We know that these types of announcements are lengthy and dense; they take time to process,” Sridharan says. “So, the intuition here is that when your firm plants a flag on responsibility and accountability, investors are more likely to take your disclosures at face value – they’re more likely to trust what you’re saying.” Organizations would do well to take this finding on board, says Sridharan; especially in today’s climate of high volatility and uncertainty. Having investors on board is critical in weathering the bad times along with the good, she adds, and CSR can be a game-changing tool in building that necessary trust. The Wild West of the Regulatory Landscape Sridharan’s paper also informs the regulatory landscape around corporate responsibility which is still in its infancy and which she likens to something of a “Wild West.” “The U.S. Securities and Exchange Commission (SEC) and other regulators are increasingly focused on improving the functioning of capital markets and understanding the role of CSR,” she says. “The SEC has included an examination of climate and ESG-related risks among its 2021 examination priorities which also underscores a growing investor interest in these issues. At the same time, research is showing that CSR can be misused or simply deployed to benefit managers looking to score reputational points with stakeholders–at the expense of shareholders. By demonstrating that investor perceptions of firms are materially shaped by firms’ CSR activities, our study highlights the importance of–and helps build the case for–monitoring and regulating firms’ CSR activities.” Suhas A. Sridharan is an Assistant Professor of Accounting at Emory University's Goizueta Business School. Sridharan studies investors' use of information to assess risk and resolve uncertainty, particularly around issues of political economy. She is available to speak with media about the importantance of CSR - simply click on her icon now to arrange an interview today.
Japan House: Fifty Years Ago Today
Joshua W. Walker, Ph.D., President and CEO, Japan Society This September we're celebrating the 50th anniversary of Japan House, Japan Society's landmarked headquarters building. Let's jump in our time machine and go back to 1971, when Japan Society was only 64 years old. At that time, U.S.-Japan relations were deeply embroiled in trade frictions while the ending of the U.S. embargo of China had just begun to impact East Asia. 1971 snapshots In the United States: Richard M. Nixon is President; Apollo 14 lands on the moon; massive protests are held throughout America against the Vietnam War; Walt Disney World opens in Orlando, Florida; Joe Frazier defeats Muhammad Ali in 15 rounds at Madison Square Garden; the first Starbucks opens in Pike Place Market, Seattle. In Japan: Eisaku Sato is Prime Minister; the U.S. and Japan sign an accord to return Okinawa to Japan; NHK TV implements colorization of all programs; Kamen Rider TV series begins broadcasting; the 48th reigning Sumo champion Yokozuna Taihō announces his retirement; McDonald's opens its first store in Ginza, Tokyo; Nissin creates the first "cup noodle." Japan House Meanwhile in New York City, Japan Society had occupied eight different locations since its founding in 1907, and by the mid-1960s, a dedicated building had become necessary to house the Society's rapidly expanding initiatives. Japan Society President John D. Rockefeller 3rd made a very generous pledge by donating the land for the building site and Japanese modernist architect Junzo Yoshimura was confirmed to design the building. On September 16, 1969, John D. Rockefeller 3rd and Japanese Foreign Minister Kiichi Aichi broke ground at a formal ceremony. Construction proceeded on schedule and staff moved in during the spring of 1971, with Executive Director Douglas Overton noting, "Each day we have found some new and delightful feature which has come off the drawing board as an unexpectedly brilliant success. Japan House will be a national important building worthy of its high purposes." Opening Week—five star-studded days of celebratory events—began on September 13, 1971 with Their Imperial Highnesses Prince and Princess Hitachi at the ceremonies. The Prince brought Japan's best wishes to the Society "for a new chapter, both rich in content and wide in scope." The Gallery opened its first exhibition, Rimpa: Masterworks of the Japanese Decorative School and the Tokyo String Quartet performed in the new auditorium. Junzo Yoshimura wrote about Japan House, "People the world over used to build their houses with local and traditional materials. Today, however, contemporary buildings all over the world use the same basic materials—concrete, steel and glass—yet different characters and nationalities can still be perceived among them. In designing Japan House I have tried to express in contemporary architecture the spirit of Japan." With the formal opening of the Society's headquarters a new era had begun. Their Imperial Highnesses Prince and Princess Hitachi and Japan Society chairman John D. Rockefeller 3rd view the first Japan Society Gallery exhibition Rimpa: Masterworks of the Japanese Decorative School. Photo © Thomas Haar. The next 50 years Fifty years later, we are at another inflection point. The novel coronavirus pandemic has taught us just how interconnected we are as a global community while placing new importance on our homes and transforming the nature of work. This unprecedented global crisis has also illuminated the strengths and weaknesses of our organization, providing new opportunities for envisioning the future. Just as the opening of Japan House shaped the Society's last 50 years, today we are reimagining how we use our space, from the physical to the digital, forging broader connections or kizuna for U.S.-Japan and for the world. We embrace our mission for the years to come, reaching out far beyond our building, to our city, country, and world as we seek to connect American and Japanese people, cultures, and societies through a global lens. Like a hike up Mt. Fuji, Japan Society’s nearly 115-year-long journey itself defines us far more than our current destination. Beginning in 1907, the first iteration of Japan Society focused on business relations between the U.S. and Japan. For its 1952 post-Occupation reconstitution under the leadership of John D. Rockefeller 3rd, the Society dedicated itself to arts, culture, and education, with an emphasis on supporting Japanese students in New York as well as spreading the word about Japan through significant cultural milestones such as partnerships with The Metropolitan Museum of Art and Lincoln Center, with traveling exhibitions and outreach on both sides of the Pacific. With the opening of Japan House in 1971, politics was reintroduced into the mix, the business and policy communities energized, and Japanese popular culture landed large—nearly 50,000 people came to the Grand Sumo Tournament at Madison Square Garden co-sponsored by Japan Society and the Asia Society in 1985! Today at Japan House we present Japan and U.S.-Japan as a way to engage with history and tradition, on the one hand, and innovation and the future on the other. As in 1971, the time to act is now and our opportunities are as great as the challenges of 2021. It's up to us to work together on new, critical connections to take us through the next 50 years. I'll be there with you. Joshua Walker (@drjwalk) is president and CEO of Japan Society. Follow Japan Society on Twitter, Instagram, Facebook, and LinkedIn. The views expressed in this article are the writer's own.
ChristianaCare recognized by American Medical Association with 2021 Joy in Medicine distinction
ChristianaCare one of only 44 nationwide to receive the distinction; one of only five to receive the highest level – Gold Recognition (WILMINGTON, Del. – Oct. 7, 2021) ChristianaCare has been named a recipient of the American Medical Association’s Joy in MedicineTM Health System Recognition Program. The distinction recognizes health systems that demonstrate a commitment to preserving the wellbeing of health care team members by engaging in proven efforts to combat work-related stress and burnout. The American Medical Association awarded ChristianaCare a “Gold Recognition” – the highest level within the program. Only 44 health systems nationwide received the Joy in Medicine distinction, with only four other health systems along with ChristianaCare achieving the Gold Recognition. “When caregivers feel supported and fulfilled in their work, the quality of both their experience and their patient’s experience improves,” said Heather Farley, M.D., MHCDS, chief wellness officer and head of ChristianaCare’s Center for WorkLife Wellbeing. “That’s why, when the COVID-19 pandemic struck, we deepened our investment of resources to support our caregivers. While there’s still a long way to go, we are grateful to receive this recognition as it affirms our commitment to helping our caregivers foster meaning, connection and joy in work and in life.” ChristianaCare received the “Gold Recognition” for achieving six criteria: An organization-wide commitment to improving physician wellbeing. An assessment of the costs of physician burnout. Evidence-based interventions to reduce and eliminate burnout. Leadership commitment to address areas for improvement. Interventions to improve teamwork. Structured programs that actively engage doctors to cultivate community at work. These criteria align with ChristianaCare’s commitment to support its caregivers in alignment with the organization’s core values of love and excellence. ChristianaCare has implemented structured ways of working that encourages leaders to create environments where their workers feel safe asking questions and feel empowered to identify and solve problems. ChristianaCare also uses numerous surveys and assessments to track progress in improving the wellbeing and experience of caregivers. ChristianaCare’s Unique Center for WorkLife Wellbeing ChristianaCare established the Center for WorkLife Wellbeing in 2016 to develop support systems to enable clinicians to reconnect with the joy and meaning in medicine. “We recognized the growing problem of stress and burnout in health care, and we made a decision to tackle it head-on,” said Janice E. Nevin, M.D., MPH, ChristianaCare president and CEO. “The work of our psychologists, researchers, clinicians and peer supporters in the Center for WorkLife Wellbeing is built on the understanding that when we care for ourselves, we are better able to care for others, resulting in decreased medical errors and a better experience of care for everyone involved.” The Center soon expanded its mission to support all of ChristianaCare’s caregivers, including those who don’t work in clinical roles. The Center also has received national recognition for its expertise and leadership in the field of workplace wellbeing. Throughout the pandemic, the Center for WorkLife Wellbeing has proactively shared a variety of resources to support caregivers as they work to provide safe, effective care and reduce the spread of COVID-19. This includes: The Care for the Caregiver program, which provides confidential individual peer support and group support to caregivers when they experience stress related to patient care or the workplace. Peer supporters and organizational leaders receive training so they can provide psychological first aid to caregivers whom they recognize are struggling as well as connect them to helpful resources if needed. Emotional support through mindfulness resources and regular rounds where the Center’s experts can check on staff wellbeing. OASIS Rooms, which are quiet sanctuaries inside the hospital where caregivers can go to take a break, de-stress, meditate or enjoy a chair massage. 24/7 mental health services and programs to help caregivers maintain healthy habits including proper exercise, sleep and nutrition. Fitness centers that are free for all caregivers to use and provide easy access to exercise and fitness programs. “I always use the analogy, you can’t take the canary out of the coal mine and teach it to be more resilient and then put it back in the same coal mine and expect it to survive,” Dr. Farley said. “You actually have to change the coal mine – the environment surrounding our caregivers and clinicians. That’s what we’re doing in the Center for WorkLife Wellbeing.” Solutions to a National Problem A national study examining the experiences of physicians and other health care workers who worked in health systems during the COVID-19 pandemic found that 38% self-reported experiencing anxiety or depression, while 43% suffered from work overload and 49% had burnout. “The COVID-19 pandemic has placed extraordinary stress on physicians and other health care professionals,” said American Medical Association President Gerald E. Harmon, M.D. “While it is always important for health systems to focus on the wellbeing of care teams, the imperative is greater than ever as acute stress from combatting the COVID-19 pandemic has contributed to higher rates of work overload, anxiety and depression. The health systems we recognize today are true leaders in promoting an organizational response that makes a difference in the lives of the health care workforce.” Launched in 2019, the Joy in Medicine Health System Recognition Program is a component of the American Medical Association’s practice transformation efforts, an ambitious initiative to advance evidence-based solutions to address the physician burnout crisis. Candidates for the program were evaluated according to their documented efforts to reduce work-related burnout through system-level drivers. Scoring criteria were based on demonstrated competencies in commitment, assessment, leadership, efficiency of practice environment, teamwork and support. About ChristianaCare Headquartered in Wilmington, Delaware, ChristianaCare is one of the country’s most dynamic health care organizations, centered on improving health outcomes, making high-quality care more accessible and lowering health care costs. ChristianaCare includes an extensive network of primary care and outpatient services, home health care, urgent care centers, three hospitals (1,299 beds), a freestanding emergency department, a Level I trauma center and a Level III neonatal intensive care unit, a comprehensive stroke center and regional centers of excellence in heart and vascular care, cancer care and women’s health. It also includes the pioneering Gene Editing Institute. ChristianaCare is nationally recognized as a great place to work, rated by Forbes as the 5th best health system to work for in the United States and by IDG Computerworld as one of the nation’s Best Places to Work in IT. ChristianaCare is rated by HealthGrades as one of America’s 50 Best Hospitals and continually ranked among the nation’s best by Newsweek and other national quality ratings. ChristianaCare is a nonprofit teaching health system with more than 260 residents and fellows. With its groundbreaking Center for Virtual Health and a focus on population health and value-based care, ChristianaCare is shaping the future of health care. #####
IDC Quarterly Tech Brief: Your Guide For The Digital-First World
September 2021 Editor's Comments Happy September! We hope you got a chance to recharge and enjoy the summer. Now that we’re looking into the last half of 2021, our experts agree that we’re not going back to the pre-pandemic normal, but we can’t help but be optimistic with recent news on vaccinations, lifting of restrictions, kids going back to school, and some of us returning to the office. As the world slowly moves from a pandemic to a digital-first state, we will see permanent shifts in the way we live, work, play and learn. IDC expects the next 3 years to remain highly fluid due to the growing range of global challenges. And now, more than ever, business and government leaders will need to operate and invest in increasingly digital-first markets, while building digital infrastructures, enabled by an intelligent, empowered, and a well-connected workforce. In this edition of IDC Canada's Quarterly Tech Brief, we’ll explore insights on the digital-first world, best practices, and digital transformation stories from Canadian tech leaders at our upcoming IDC CIO Series webinar on September 22, and as usual, we also reveal the latest research, survey results and market forecasts. And last but not least, we're happy to announce IDC Canada's biggest technology event of the year, IDC Connections 2021 is coming up on November 4th. Save your seat today! FEATURED IDC CIO Panel Series – Part 2: Building Resiliency & Innovation into Your Canadian Journey Join us on Wednesday, September 22 at 2 p.m. ET for the latest session of our IDC CIO Panel webinar series where we will dive into what digital resiliency means for you, and how to leverage the latest Digital Infrastructure and Digital Innovation trends to your advantage. Hear from industry-leading tech executives, Antoine Haroun, CIO at the Peel District School Board, Irene Zaguskin, CTO at The Printing House, and Michael Kurek, VP of Sales & Operations, Data Center Solutions at Dell Technologies as they unpack how the pandemic accelerated their digital transformation journey, and their best practices for planning and managing IT during uncertain times. Our experts will also host 3 sessions around how the Future Enterprise operates in a Digital-First World, a look ahead at the forces of change heading into 2022, the Future of Digital Infrastructure, and the need to strive for a balance between digital innovation and resiliency to remain relevant and competitive. Your Canadian Research Checklist Here are some of our most popular Canadian reports of the quarter to help you understand changing market conditions and succeed in 2021. ✓ IDC Market Glance: Service Providers in Canada, 2Q21 ✓ The Rise of Canadian Cloud Ecosystems ✓ Canadian Cybersecurity Market Snapshot, 2Q21 ✓ Canadian Cybersecurity Buyer Persona: Managed Security Services Benefits ✓ Canadian Managed Cloud Services Adoption, 2021 Forecast Highlights ✓ Canadian Wireless Services Forecast, 2021–2025: Wireless Wars 18 ✓ Canadian Internet of Things Forecast, 2021–2025 ✓ Outlook for Canadian SaaS Applications, 2021 ✓ Worldwide Managed Cloud Services Forecast, 2021-2025 ✓ IDC's Forecast Scenario Assumptions for the Canadian ICT Market, April 2021 IDC THOUGHT LEADERSHIP: DIGITAL RESILIENCY SCORECARD Explore IDC's new Digital Resiliency Scorecard Does resiliency still matter in a "post-pandemic" world? Quite simply, it does. In IDC's recent Digital Resiliency Benchmark Survey, we found that 65% of U.S. buyers and 55% of Worldwide buyers have plans to invest in resiliency over the April 2021-April 2022 timeframe. Watch The Digital Resiliency Scorecard webinar to learn more ICYMI: BLOG HIGHLIGHTS FROM THIS QUARTER Future of Customer - More Human Experience - Over 34% of executives point to transforming the customer experience as the top business function. Learn more about the Future of Customer framework with IDC’s Keyoor Adavani. Read More → Major Smartwatch Market Consolidation: A Canadian Take - In May Google announced a new unified smartwatch platform in partnership with Samsung. Learn how this partnership is expected to shake up the market dynamics in Canada with Shahd ElAshri. Read More → Telesat Vying For LEO Constellation Leadership - A new commercial space race has begun and among the entrants for Low Earth Orbit (LEO) satellite constellations, Telesat is an emerging leader in this multi-billion-dollar market. Learn more from IDC's Lawrence Surtees. Read More → Federal Budget Innovation Goals and What’s Next for Recovery - COVID-19 fast-tracked innovation and digitization. See how the federal budget plans to support digital transformation, and learn how customer centricity and AI can set you apart from the competition with IDC's Mark Schrutt. Read More → UPCOMING VIRTUAL EVENT IDC Connections 2021 Canada: Accelerating Your Path to a Digital-First Enterprise Mark your calendars! IDC Connections is back this year and we can't wait for you to take a front-row seat. Don't miss an afternoon full of IDC experts' insights, special guests, networking, and hear from the tech leaders who are driving this new era of rapid transformation. This year's highlights include: A special closing keynote on the Future of Sports and Entertainment with Humza Teherany, Chief Technology & Digital Officer at Maple Leaf Sports & Entertainment Creating digital innovation & experiences at your organization, with IDC's Chief Research Officer, Meredith Whalen Embracing digital infrastructure, with IDC Canada's Dave Pearson Leveraging new industry ecosystems, with IDC Canada's Nigel Wallis Guidance from our popular CIO Best Practices Panelists PODCASTS WORTH A LISTEN Find out why clients are raving about our new podcast series! In an era seemingly filled with uncertainty, the Future Enterprise podcast is a must-listen. It's a podcast for business and tech executives, aimed at helping you leverage technology to achieve innovative, disruptive, and productive business outcomes. Listen in as IDC host, Joseph Pucciarelli, Group Vice President & IT Executive Advisor interviews C-level executives from around the world on their digital transformation initiatives touching on each of the "Future of X" digital initiatives. Senior IDC research leaders often join in the conversation. Listen Now → Thanks for being a part of our IDC Quarterly Tech Brief Newsletter community! Don’t forget to subscribe to be notified quarterly when the next issue comes out.
The Case for Career Advocates: An Organization Is Not a Meritocracy
This blog post is the first in a three-part series by Renee Dye 94PhD, associate professor in the practice of Organization & Management that summarizes the key messages she delivers to students in the hopes that it can catalyze and support the career success of a broader group of ambitious employees who aspire to make it to the C-Suite One of the paradoxes of the GenZs and Generation Alphas is their intuitive understanding of the phenomenon of social media…at the same time they maintain an almost ideological conviction that the workplace – apart from systemic biases – is otherwise a meritocracy, where talent is perfectly and objectively evaluated – and the best and most deserving rise to the top. Surely a cursory exploration of Instagram and TikTok would convince even the most skeptical of the fundamentally idiosyncratic nature of success in a networked world? The Real World is likewise characterized by outcomes in which success is imperfectly correlated with capability level. Someone whose capability level is less than yours may lap you in the race to the top of the organization. That may seem unfair, but that’s because you’re making the mistake of assuming that career success is predicated purely on capability. A survey of MBA graduates from Emory University's Goizueta Business School a few years ago produced a startling insight: of all the skills that we provided to our students during their MBA tenures, our students felt most unprepared to navigate “organizational politics” in their careers. The reason that I found this fact so astonishing is that today’s students, who are Digital Natives and in part Social Media Natives, are the most connected and self-promoting generation the world has ever seen. Yet today I find that my students continue to exhibit little practical understanding of how career success is forged…so much so that I now devote an entire class session in my core Strategy class to demonstrating the importance of relationship management and advocacy cultivation. Capability is not unimportant; far from it. As I tell my students, though, capability is table stakes these days as the level of education and skill sets continues to advance among individuals. If you’re not smart and capable you’re not getting in the door. But once you’re in, your career path and ultimate career success will be more determined by (1) your level of aspiration and unflagging commitment to achieving your goals; (2) your performance outcomes in your individual roles; (3) your work ethic and conscientiousness; and (4) the relationships you have with other people within your organization. And the relationships that matter the most are the individuals with influence and power over your future career opportunities. Let me put it starkly: without career advocates (notice the plural), it will be much, much harder to make it to the senior management ranks. Full stop. Some facts to bear this assertion out: • People with advocates are 23% more likely to move up in the careers • Women with advocates are 22% more likely to ask for a stretch assignment to build their reputations as leaders Ultimately, having an advocate confers a career benefit of 22-30%, depending on who’s doing the asking and what they’re asking for. That’s increasing your odds of making it to the C-Suite by nearly a third! If anecdotal evidence is more your thing, here are a couple of quotations for you: • A lot of decisions are made when you are not in the room, so you need someone to advocate for you, bring up the important reasons you should advance” (Catalyst Survey, as quoted in Elizabeth McDaid, “Mentor vs. Sponsor,” September 3, 2019) • When you get to the level in your career when decisions are not just being made by an individual manager, feedback from other leaders becomes crucial. Rosalind Hudnell, Chief Diversity Officer, Intel. As quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) • “I was great at building businesses and had tons of cheerleaders, but I had that typical Asian keep-your-head-down-and-you’ll-get-taken-care-of mindset.” My boss had to take me aside and tell me that if I didn’t actively cultivate her as my sponsor, I would never progress beyond senior associate” (quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) To reiterate: an organization is not purely a meritocracy where talent and hard work speak for themselves; and it’s much, much harder to advance within an organization without effective advocates. "This blog post is the first in a three-part series that summarizes the key messages I deliver to my students, in the hopes that it can catalyze and support the career success of a broader group of ambitious employees who aspire to make it to the C-Suite,” writes Renee Dye 94PhD, associate professor in the practice of Organization & Management. “Most of my lessons are derived from my own unlikely personal journey from literary scholar to top-tier management consultant to C-suite executive for a publicly traded company, but they are also heavily informed by leading researchers like Sylvia Anne Hewlett. In the final blog, I discuss the impact of remote work on career success.” For more insight and to continue reading this article and series, please visit Dye’s blog. To arrange an interview – simply click on Dye’s icon now to book a time today.