magnusassociates

Supporting a Growing Remote or Hybridized and Millennial Workforce

Thu, 08 Sep 2022 14:09:51 GMT

Supporting a Growing Remote or Hybridized and Millennial Workforce

Now, more than ever, organizations need clear information to decide how best to support a growing remote or hybridized and millennial workforce interested in work life integration. This is important not only for creating employee retention, but to create optimal productivity and a healthy workplace environment.

Magnus Associates just completed a project for Raiven Capital tech venture fund to help support their portfolio and the venture capital industry in general to dig deeper and get insight into what works and what is optimal in a remote workplace.

We gave each of 5 tech start ups the same initial scenario to workshop - an experience they would have in their normal operations that they needed to work out as a team. Then a half hour into the exercise, we threw a wrench into the scenario upping the tension and the stakes. Then we invited them each into a debrief process.

The future of work is hybridized or remote. AND employees want more than work, they want work that integrates with and supports their broader life and well being. This has led to what is being termed post pandemic as “the great resignation”. Employees don’t see value in organizations that aren’t able to support both individual well being and create a healthy, flexible and progressive work environment.

The study uncovered several themes (for the full white paper click here )

Leadership

Leadership, as defined by the “great resignation” literature, needs to value remote work, respect time outside work, create onboarding and a process for everyone to own the culture, and support the values being shared in non agenda based meetings such as virtual water cooler experiences (an opportunity for spontaneous conversation) and virtual town halls (other socializing)
Leadership provides transparent, accessible and integrated remote working systems/platforms so teams can do work across time zones and remote work hour preferences.
Leadership has to create a culture of high EQi. (Emotional Intelligence: Self perception, Self expression, Interpersonal skills, Stress Management and Decision Making)
Leaders can serve and take a back seat when the values, processes, and operational actions/strategy are defined and held by each member of the team in a cohesive way that stems from a clear culture map.

Culture

Workplace culture is all the tacit agreements about values, ethics and operations that shape the attitudes and behaviours within an organization. They define what is encouraged, discouraged, accepted or rejected within a group (Groysberg, Lee, Price & Cheng, 2018)
Successful workplace (Businesses able to execute their strategy) cultures acknowledge that work is more than a contractual agreement exchanging money for work. It acknowledges that people have lives, dreams and individuality and work exists within that context. People want mentorship, healthy communication, flexibility to work to get the work done - not for face time, or perception of how work has to get done

Culture Mapping

Clear culture creation and good leadership leads to a relationship map (how the culture actionates at the level of the internal and external relationships, communications, operations and strategy).
It simultaneously creates the expectations, behaviours, communications, processes and strategy that walks the customer/clients through the experiences with your organization from start to finish.
A clear workplace culture map leads to clear relationship maps (internal and external) and is key to business success in a remote/hybrid environment
When each team member operated as if the culture was a shared vision, synergy and greater business success occurred.

Raiven Capital Releases White Paper on the Future of Work

Fri, 12 Aug 2022 16:47:19 GMT

Raiven Capital Releases White Paper on the Future of Work

Clear Culture Is Key for Startups in a Hybrid World

TORONTO--( BUSINESS WIRE )--Raiven Capital, a global early-stage technology venture fund, today announced the release of a white paper that studied the future of work post-pandemic, where hybrid and remote teams are here to stay.

The Future of Work comprises original research and simulations with Raiven Capital’s portfolio companies. It showcases insights on best practices for startups in a post-pandemic hybrid world, changing workplace cultures and the type of leadership required now.

The study raises questions of how creativity, innovation, collaboration, and success are best created in hybrid workplaces. “Is work better, worse, or different? How do changes in work impact the creativity of young startups?” said Dr. Romola Porchuk, an organizational psychologist and culture expert who created the study.

Startups with hybrid work environments must define a culture with clear values and transparency, noted Raiven’s General Partner Paul Dugsin. “Companies that do not define culture face the risk of failure. Pre-articulated goals and roles enable smooth workflows, without chaos,” he said.

The study showed that pre-pandemic startups could get away without having a clear culture defined because relationships were personal and face-to-face. Cultures evolved organically; pre-pandemic relationships were easier to navigate and manage. The personal touch – discussions around the water cooler – made a difference.

In a post-pandemic world featuring remote work environments, relationships do not develop as easily. Even simple disagreements can destroy relationships; every action impacts the entire organization. Particularly in startups, and in simulations, smooth operation can be difficult given the speed and agility needed for growth.

The topic of culture is especially relevant, as it falls on the heels of recent articles that blame toxic work cultures for the “Great Resignation.” However, beyond culture maps, relationship maps, both internal and external, that define expectations, behavior, and processes become critical in startup environments. Leaders that create roles with well-defined relationships and boundaries build rather than destroy culture.

For more information, download the whitepaper here .

SEALING THE DEAL ON YOUR HIGHER ED SUPERCLUSTER

Thu, 02 Jun 2022 18:01:06 GMT

SEALING THE DEAL ON YOUR HIGHER ED SUPERCLUSTER

Transforming Canada’s Innovation Landscape

The federal government has created an opportunity to focus on filling gaps in the Canadian innovation landscape and jumpstart high-growth sectors, and it represents a significant opportunity for PSE’s who are strong in research and industry partnerships. The recent announcement of a $950 million federal government investment to develop “Superclusters” -- industry-led, education-backed consortia designed to accelerate economic growth and resiliency -- confirms the federal government’s plan to compete with major global centres of innovation like Silicon Valley.

Supercluster investments will seek to drive international competitiveness, long-term prosperity, and job creation by positioning Canada as a global leader in key areas including advanced manufacturing, agri-food, digital technology, artificial intelligence, health and bio-sciences, clean resources, infrastructure and transportation.

The proposals are to result in the formation of a non-profit organization and three to five superclusters will be funded by the end of the year. The federal investment must be matched by industry and be based on a compelling case. Winning consortiums will complete a full proposal and must include two industry-leading “anchor” companies, six small and medium-sized enterprises, and one PSE institution.

The opportunity is a long-term play and the success of funded superclusters will depend in large part on the strength of pre-existing research and teams, both organizations and PSE partners. Long-term success will also depend on many other factors, including long-term sustainability of operating funding, understanding the dynamics of innovation eco-systems, understanding scalability, and the ability to integrate and implement.

FRAUNHOFER PROJECT CENTRE

Thu, 02 Jun 2022 18:01:06 GMT

FRAUNHOFER PROJECT CENTRE

Magnus services provided included strategic planning, relationship development, client management and R&D planning.

The Fraunhofer Institute for Chemical Technology ICT, Europe's largest application-oriented research organization.

The Fraunhofer Institute for Chemical Technology ICT (Europe's largest application-oriented research organization) and Western University in London, Ontario are working together on developing and processing composite materials for lightweight vehicles in the joint Fraunhofer Project Center for Composites Research @ Western – the world’s latest state-of-the-art equipped press centre in full industrial scale.

We assisted with integrating complex, multi-sectoral, international partnerships and successfully assessed opportunities in the high-tech world, particularly platforms that advance many sectors and markets simultaneously. The end results was the sourcing of tens of millions of dollars per project. Strategic planning, relationship development, client management and R&D planning were among the important services provided.