Hybrid working is on the cards for most offices, but how can organisations successfully implement it? Moira Dunne has three top tips to help plan for the new way of working. Pandemic restrictions are easing, and businesses are preparing to return to the office. Many employees have enjoyed the flexibility of working from home, and a ‘hybrid’ working model will likely be the new way of working. Hybrid working is a mix between remote and office working. Ideally, the model provides the best of both worlds. If successful, employees and employers can benefit from the flexibility of working from home while also collaborating in the office. To make this happen, it is important to plan for the new way of working. Here are three tips for successful hybrid working. Reset This is a good time to reflect and reset. Due to the sudden onset of the pandemic in 2020, people adjusted quickly to homeworking. Hybrid working will continue to involve homeworking, albeit part-time. So, it is important to review the following: Do I need a better routine when working from home? Can I optimise my workstation and equipment? What distractions cause me to lose time and focus? This review can help people optimise their home working environment, boosting productivity and comfort while not in the office. Plan To get the most benefit from hybrid working, consider how to split work between home and office. Consider the time and location dependency of the work. Is there a requirement to support others at set times? Is there a need to access office-based files or systems? Which tasks are independent of time and location? Tasks that require a high level of focus are more suited to a quiet home environment. Time in the office enables group work, such as problem-solving, innovation or coaching. Each employee can plan the: time-dependent tasks that must be done during core hours; location-dependent tasks that require access to files or systems in the office; collaborative tasks that require interaction in the office; and solo tasks that can be done individually, independent of location or time. If a team gets together to plan their schedules, they can create a rota to cover all responsibilities. They can also optimise collaboration time in the office. Deliver Successful hybrid working happens when each person takes responsibility for delivering in their role. This can build trust and help remove the residual stigma about remote working. It helps shift assessment of performance away from presenteeism. Both employees and managers have a part to play in delivery. Productivity is improved when: employers provide clarity about what needs to be delivered. This helps people work independently at home; employees seek clarity if they are not clear about expectations. They report on progress and discuss any issues that arise; and there is open communication. This is beneficial in any working environment, but it is particularly important in a hybrid working model. Hybrid working offers benefits for both the business and employees. There is a collective responsibility for making it work, but it may take time for the new model to settle. It is new territory, so it is best to take an iterative approach. Encourage people to adopt a continuous improvement mindset. By trying the model, reviewing, modifying, and improving it, you will have a successful hybrid working situation. Moira Dunne is the Founder of BeProductive.ie. You can find more tips about successful hybrid working in her webinar.

A responsive ransomware incident plan is critical for organisations. Carol Murphy and Ross Spelman outline what the plan should include and how to respond in the case of an attack. Every organisation should have a ransomware incident response plan in place, and this should be regularly tested, reviewed, and updated. This plan should include roles and responsibilities for all stakeholders, including IT, legal, compliance, human resources, operations, communications, and end-users. The response effort should focus on key functional areas, including IT, information security, legal, and communications. The teams looking after these areas should share information in a central location and establish clear communication channels with regularly scheduled incident update sessions. IT Ransomware is a technology problem and, once detected, the first step is to disconnect any infected or suspected systems from the network and shut down non-infected systems to protect them from infection. Once that is complete, available backups should be identified and evaluated. It is critically important that backups pre-date the attack. If a system cannot be cleaned and brought back to a secure, operational state, the system must be rebuilt or restored. The restoration process should follow a clear, prioritised sequence based on business criticality and risk exposure. For example, critical production servers or systems providing email/collaboration services may come first, followed by business-critical workstations supporting payroll and other critical areas of the business. Depending on the priority, general user workstations may come last. Information security The information security team should attempt to identify the type of ransomware that has infected the system and, if possible, pinpoint the criminals responsible for it and then determine if a decryption key or remediation software is publicly available. A forensic investigation should be undertaken to determine whether any data was stolen, how the network was accessed, the particular systems accessed, and what activities took place on them. Devices and equipment which appear to be non-infected should be examined for evidence of hacker activity as a matter of routine. Once the investigation is complete, the team should work with IT to fix the vulnerabilities used by the criminals to access the network. It is not good enough to fix the root cause(s) or vulnerabilities exploited by the attacker: the organisation should strengthen multiple layers of security controls and improve/adopt a defence-in-depth approach to security. Legal and communications Depending on the criticality of the incident, company officers and employees may need to be notified immediately. Business partners and key external parties should also be informed at the earliest possible juncture and kept informed as the investigation progresses. The legal and communication teams should prepare a statement to inform the broader public of the incident. They should also work with IT and Information Security to develop and implement temporary workarounds for impacted critical functions, including email, payroll, and customer portals. The team should also prepare for regulatory or compliance reporting requirements such as those covered by GDPR. No ransom We do not think you should pay ransom demands for a variety of reasons. Paying ransoms will only fund continued criminal activity. Payment could also expose companies to legal risk with no guarantee that the criminals will make good on their promise to supply a decryption key or other means of recovering data. Indeed, companies that pay ransoms may find themselves vulnerable to re-infection by the same criminals or their associates. No organisation can afford to be without a cyberattack or ransomware response plan. The plan should be subject to periodic review and set out the role of all appropriate sections of the organisation in the response and recovery process. Particular emphasis should be placed on the investigation phase as this will assist in the prevention of future attacks. When an organisation recovers from a ransomware incident, it should emerge much stronger. Carol Murphy is Consulting Partner and Head of Risk Transformation at EY. Ross Spelman is Cybersecurity Director and Lead at EY.

Over the last number of years, ESG has become increasingly important to investors. By dedicating time and resources to ESG now, companies can reap greater rewards in the future. Edel O’Reilly explains. In my organisation, I act as a conduit between many publicly listed companies and the global investor community, and I have witnessed first-hand how important the issue of environmental, social, and governance (ESG) criteria has become to that community in recent years. Increased regulation, societal demand, underlying customer demand and perhaps, most importantly, improved investment outcomes are the key issues that have fuelled this change, and global investors and lenders now see the adoption of ESG practices as a crucial driver of value creation. This has been reflected in an acceleration in engagement levels between companies and their investors on the key issues.  What are investors looking for? So, what do investors care about and what are they looking for? I regularly organise corporate governance and ESG roadshows, and investors are intensely focused on corporate governance as a key indicator of evaluation. Why? Because good governance underpins strong business performance without excessive risk-taking. Investors focus their attention on board members, the processes in place to support adequate oversight, and board accountability. Board chair and members For allocators of capital, it is critical that the board chairperson is independent, while a diversity of skills and additional board experience are important criteria for board members. And, as the world becomes ever more digital, investors like to see board members who have cybersecurity and IT skills. Processes and oversight When it comes to governance architecture, best practice dictates that there should be three board committees: A nominations committee to ensure board balance; An audit committee to oversee the financial reporting aspects; and A remuneration committee with responsibility for proper alignment with executive pay. Investors want to see balanced compensation packages for management teams that reward performance but that are also related to long-term goals. Investors assess potential long-term value by judging the quality of policies and processes in place and the board’s diligence and care in overseeing their implementation. Accountability Critically, good governance can’t stand still and, as a company grows, it should have governance in place for each stage of its maturity. There must be continual reviews of whether the board structure and policies in place are fit for purpose at every stage of development and growth phase of the company. A formal external evaluation process and response plans to any gaps identified are important steps and initiatives that investors like to see.  Companies that demonstrate a strong commitment to ESG best practices will benefit from greater access to debt and equity capital at competitive costs. Any company seeking a loan or equity investment will potentially be screened through an ESG lens, which will determine access to – and the cost of – such capital. So, the drive for good corporate governance has never been more important.  Investors are rewarding companies that can prove they are legitimately committing resources to sustainable goals – good governance is an essential part of this journey.  Edel O’Reilly is Head of Investor Relations at Goodbody and a member of the Chartered Accountants Ireland Sustainability Expert Working Group.

Tax policy is essential for carving out a green future post-COVID-19. Peter Reilly outlines four key areas where tax policies can really make a sustainable difference. Climate change is one of the greatest challenges of our generation, requiring wholescale transformation of every sector of our economy, unprecedented innovation and committed leadership. Tax policy will play a major role in not only influencing behaviour towards a sustainable economy, but also encouraging investment and creating jobs in the right areas while boosting a green COVID-19 recovery. There are four key areas where tax policy can play a critical role in Ireland’s decarbonisation journey: Supporting renewable energy adoption, particularly an underdeveloped offshore sector  The Climate Action and Low Carbon Development Bill 2021, once ratified, will put targets including 70% renewable electricity by 2030 and a net zero emissions economy by 2050 on a statutory footing. This target may be further increased to 80%. Offshore wind in Ireland, in particular, is underdeveloped and presents huge potential, including the opportunity for additional capacity to be exported. This, in turn, would directly and positively impact Ireland’s economic prosperity. A range of potential tax measures would support the adoption and deployment of renewable energy projects, such as the introduction of capital allowances on grid connection costs. Opportunities are abundant in the areas of investment and divestment of projects, reviewing the R&D tax credit, as well as the cash flow considerations within the VAT and relevant contracts tax regime.    Environmental taxes and incentives  Environmental taxes, such as excise taxation, act as a key deterrent to behaviours that are contrary to our climate action goals. On the other hand, environmental tax incentives, such as accelerated capital allowances for energy efficient equipment, are a very valuable cash flow benefit for businesses.  Building on the progress made in Budget 2021, the further expansion of existing regimes to support a reduction in greenhouse gas emissions and promote investment in energy efficient equipment by businesses could be a smart initiative. For example, Government could consider extending the Biofuels Obligation Scheme to other sectors where mineral oils are utilised, e.g. to the heating sector where the use of fossil fuels is high. Promoting Ireland as a ‘green finance hub’ An environmental, social and governance (ESG) focus is propelling growth in the financial services sector. For example, 100% of global asset managers with operations in Ireland (confirmed in a PwC Ireland hosted webcast) that ESG investing will change the global economy in the next three to five years. With over 37,000 people in financial services in Ireland, the sector has the people with the skillset, initiative and drive to position Ireland as the leading international centre for ESG products and investments – a ‘green finance hub’.   There are a range of tax measures that could positively impact the establishment of ESG funds in Ireland in addition to measures that would encourage investment from both Irish and international investors in these Irish-based ESG funds. These measures would be subtle, but would be impactful in positioning Ireland as a centre of excellence for ESG innovation. Incentivising positive housing and mobility consumer behaviour Despite retrofit grants available, there are many reasons why households in Ireland may be deferring improving their home’s energy efficiency, not least due to the high upfront costs. A focused approach to retrofitting homes (including associated upskilling) would not only stimulate economic activity, but would also help provide for much more healthy, ergonomic and energy efficient workspaces for the new wave of remote workers. Ireland’s approach to retrofitting should be reviewed to include a ‘Help to Insulate’ scheme to incentivise retrofitting properties.  Further, more specific measures and expansion of existing measures in the areas of tax relief for public transport costs, taxation of hybrids and electric vehicles as well introducing a tax deduction for commuting expenses and reintroducing tax relief for investment in park and ride facilities must be strongly considered by Government. Peter Reilly is a Tax Policy Leader at PwC. This highlights PwC Ireland’s Green Pre-Budget Submission.

With many organisations still formalising and organising their remote working arrangements, there is a chance to really get the balance right when it comes to the next evolution of work. Fiona Dowling and Tom Armstrong explain. When it comes to remote working, one size will not fit all – there are significant differences between age groups, which reflect family circumstances and stages in life. The next phase of reopening society and workplaces will raise issues, concerns, and opportunities as yet unknown. Constant review and an open approach based on emerging themes will be required. In a recent survey, respondents were asked a series of multiple choice and open-ended questions about their working-from-home experience. Based on these findings, here are the eight elements management should keep in mind as working situations evolve over the next six months. Flexible working arrangements When asked what they would like their organisation to continue with after the pandemic, more than half of respondents (60%) said flexible working arrangements. This includes requests to work from home or remotely, as well as requests to control start and finish times with a greater emphasis on outcomes as opposed to hours worked. Physical sense of people Many are feeling the loss of being near other people brought about by remote working. Almost 93% of respondents expressed negative sentiment when asked how their connections to colleagues were affected. It’s good to remember that our people still need other people. Gender needs While everyone has experienced the same event, a standout divergence is that in relation to every statement in the survey, men consistently report a more difficult experience. Speak to the whole of your workforce to get a better sense of their needs and note that the needs of one group might be different than the others, and take note of emerging trends. Boundaries It’s important to remember that many employees want to feel the difference between their home and work life, especially when remote working, and boundaries around the right to disconnect need to be set. Many have expressed issues with the expectation of being available after normal working hours, exclusively working from home and the need to be mentally “always on”. Generational differences In the survey, the 18 to 24 age group have indicated the highest negative sentiment of all age groups. The 25 to 34 age group had the second most negative experience. The group that indicated the most positive or least negative experience is the 35- to 44-year-olds. The significant differences in sentiment between age groups clearly reflect the different needs at different stages of life and family circumstances. Providing practical support Organisations must take into account that while their work force is working remotely, they still need the same amount of technical support, office equipment and reimbursement for costs incurred because of home-working. Be sure to build these considerations into your budget going forward. Collaboration and problem solving Ability to collaborate, generate ideas, innovate and problem solve during enforced remote working experienced a bit of a slump. When moving to a new way of working going forward, organisations should continue to foster a culture of collaboration to aid in the business’s future success. Not only do you want to implement new ideas, so do your employees! Fun and morale As is this case when working from the office full-time, employees still want more time to socialise, informal staff meetings and enhanced social interaction. Make sure your staff are empowered to set aside time for the fun stuff without it having a negative impact on their day-to-day work and productivity. Tom Armstrong is an Executive Coach, Facilitator, Mentor and Chartered Accountant. Fiona Dowling is an Accredited Executive Coach, Career Strategist, and Leadership Facilitator.

June has rolled around and all the grand goals we planned in January are still sitting there, waiting to be achieved. Damian McCourt outlines five ways to help you get back on track. January is the month for grand goals, big ideas and hopeful change. February tends to be the month for keeping your head down, getting through it, and trying not to think about the grand goals lying in ruins at the end of January. By June, we might still have those goals in mind, but if you have abandoned them, they are hard to pick up again. Here are five tips to get yourself back on target. Was the goal for you or someone else? This might seem obvious, but a lot of the time the goals we set aren’t really ours. Do you want to lose weight because you’d like to be able to enjoy more physical activities (goal for you) or because you’re afraid people won’t find you attractive (goal for others)? Are you going for that business qualification because you’re interested in it or because you’re afraid your colleagues won’t see you as competent? Goals based on fears rarely succeed. Think hard about this one, because it’s the most likely reason you’re not achieving your goal. Was the goal realistic? Most of us don’t look at context when we make goals. “Learn Portuguese in six months!” might be realistic, but not if you’re also working long hours, bringing up three kids and trying to keep in touch with your friends. You need to figure out the daily time requirement for your goal and see how it fits in with your life now. It might be less than you think, and daily repetition is the key to achieving your goals. Did you figure out what daily change would lead to success? Organisations are good at long-term change because they can break down broad, long-term goals into medium-term, strategic targets and then into short-term, operational changes. If you’re trying to change something about yourself, you need to do the same thing. This is something many struggle with, and scaling is a great way to manage this. Score yourself on a scale of one to ten on the thing you want to change. Maybe it’s physical fitness, and you’re only a three at the moment. Now, what one thing could you change each day to move yourself to a four? Maybe it’s getting off the bus two stops early and walking the rest of the way each morning, or taking a ten-minute walk at lunch. It doesn’t have to be a huge change; in fact, it’s better if it’s not. You are just moving that scale, one point at a time. Are you trying to multitask? Despite the fact that multi-tasking is lauded as a critical business skill, most of us just can’t do it well. About one in fifty people have the genetic wiring to genuinely pay attention to several things at once without losing focus. For the rest of us, we work best when we focus on one thing at a time. Goals are no exception. Pick one goal you want to achieve more than any of the others, and make it the primary focus of your life until the daily changes required to make it a reality have become automatic. You don’t even have to have reached your goal; you just need to be on the way without having to direct willpower towards it each day. Did you set a due date? Don’t! This one is controversial. You might think having a goal date will spur you on, but what it really does is give you a failure state. “I didn’t achieve my goal in the time I set for myself” can easily turn into “I just can’t change!” after a few missed deadlines. Focus on daily changes, one at a time, and on making each one a habit. You’ll have scaled up to a 10 out of 10, goal achieved, before you know it. Damian McCourt is a freelance trainer and consultant specialising in workplace resilience, productivity and sensible leadership.