“When a meeting, or part thereof, is held under the Chatham House Rule, participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed.” 

Strategic Insights and Benchmarking: By participating in the Lighthouse Survey, organizations gain access to a wealth of strategic insights. Benchmarking against industry peers and leaders will help identify strengths and areas for improvement, enabling organizations to set the trend in workplace dynamics.

Talent and Skills: The skills landscape is evolving rapidly. We examine the talent and skills that will be in demand in the future and how organizations are preparing for this shift.

Leadership and Culture: Effective leadership and a positive organizational culture are critical in navigating change. We analyse leadership strategies and cultural dynamics within organizations.

Future-Proofing South-East Ireland: The Lighthouse Survey isn't just about understanding the present; it's about preparing for the future. By participating, you become an integral part of a collective effort to future-proof the South-East region of Ireland, ensuring its resilience and prosperity in the face of evolving work dynamics. We encourage your organization to seize this opportunity to contribute to and benefit from this transformative initiative.

South-East Regional Profile

Vulnerability to Automation

A specific concern is the susceptibility of Irish workers to automation. Driven by rapid technological advancements, automation has the potential to revolutionize industries and work processes, promising increased efficiency, productivity, and economic growth. However, as automation continues to reshape various sectors, the report emphasizes the urgent need for upskilling initiatives. These initiatives are critical to ensure that Ireland's workforce remains competitive and adaptable in an ever-evolving market. Without proactive measures, there is a risk that Irish workers may lag behind. The report notes, "Technological change can enhance productivity and address skill shortages. Nevertheless, it also implies that many individuals will need to acquire skills for new roles or upgrade their skills for existing ones."

Investment in Skills Development

According to OECD Secretary-General Mathias Cormann, a strong emphasis on skills has been a crucial factor in Ireland's robust economic performance and improvements in well-being. However, significant challenges lie ahead, including labour shortages, a slowdown in productivity growth, and the need to effectively manage the skills implications of green and digital transformations, all while coping with the consequences of an ageing population. Cormann emphasizes that Ireland has the opportunity and the obligation to build upon its strengths. This can be achieved by achieving a better balance between skills demand and supply, promoting greater engagement in lifelong learning, utilizing skills to drive innovation, and enhancing skills governance.

The report underscores the imperative for substantial investments in skills development. This includes cultivating management capabilities, adopting high-performance work practices, and investing in skills that are future-oriented and less susceptible to automation and disruption. Such skills encompass critical thinking, creativity, problem-solving, digital literacy, and social and emotional intelligence. To ensure the growth and competitiveness of organizations throughout Ireland, it is essential to provide robust support for upskilling and reskilling initiatives. By equipping employees with the right skills, businesses can elevate their productivity, stimulate innovation, and address prevailing skills gaps. Upskilling also empowers workers to navigate the evolving job landscape and ensures a smoother transition into new roles

 The potential rewards of a job well done are significant: leaders who can unlock the most value from their organizations today can become the performance champions of tomorrow. Conversely, those that underachieve to improve their organizations may fall behind peers who have succeeded in doing so, putting in jeopardy their competitive position and growth prospects. Research has shown a direct link between an organization’s health and its financial performance. In any discourse about institutions, it's crucial to acknowledge their fundamental significance in our shared existence. Out of the 8.0 billion people inhabiting our planet, approximately 3.3 billion were actively engaged in organizational work in the year 2022. These individuals are continually influenced, whether directly or indirectly, by the activities that transpire within these organizational settings. This influence is occurring at a time when the very concept of "being at work" is undergoing significant changes. Consequently, ensuring the effective functioning of organizations is not solely a concern for individual companies and establishments; it has broader implications for the overall welfare of society.

VOLATILITY:In today's operating environment, volatility isn't a flaw; it's a defining characteristic. However, according to a recent global survey, half of the respondents admit that their organizations are ill-prepared to respond effectively to future disruptions. To thrive in this ever-changing landscape, it's essential to not just weather the storm, but to bounce forward quickly. This requires a strategic approach that prioritizes three key factors:

1. Speed of Response: To stay ahead, organizations must be agile and quick to react to unforeseen challenges.

2. Empowering People: Giving your employees the authority and autonomy to make decisions fosters innovation and adaptability.

3. Cultivating Continuous Learning: In a world of constant change, a culture of ongoing education and development is vital to keep your organization competitive.

By embracing volatility as a feature rather than a bug, businesses can position themselves to gain a significant advantage over their peers. Are you ready to navigate the ever-evolving business landscape?

TRUE HYBRID:In the wake of the pandemic, a remarkable shift has occurred in the workplace landscape, with nearly 90 percent of organizations wholeheartedly adopting diverse hybrid work models. These models empower employees to work remotely, including from their homes, for varying durations. However, what truly matters in this evolving landscape is how organizations navigate this change by providing the necessary structure and support for tasks best suited for in-person or remote work.

The key to success lies in an organization's willingness to explore the full spectrum of possibilities regarding when, where, and how employees work. This entails a comprehensive reevaluation of performance expectations to align with the dynamic nature of work in the modern world.

By embracing this 'true hybrid' approach, organizations position themselves as pioneers in the new era of work, setting a standard for adaptability and flexibility. Are you ready to transform your organization into a sought-after destination for the workforce of tomorrow?

AI POTENTIAL: AI is not just a tool for enhancing operational efficiency; it's a key driver in the journey to build stronger, more agile organizations. Forward-thinking companies are already harnessing AI to achieve a spectrum of transformative objectives, including:

1. Building Sustainable Talent Pipelines: AI aids in creating talent pipelines that are not only robust but also sustainable over the long term, ensuring a constant influx of skilled individuals.

2. Revolutionizing Work Methods: Companies are using AI to revolutionize the way they work, resulting in enhanced productivity, efficiency, and innovation.

3. Implementing Data-Driven Structural Changes: AI enables organizations to make swift, data-backed adjustments to their structures and strategies, fostering adaptability in rapidly changing environments.

As organizations dive into the vast opportunities offered by AI, they must pay attention to a few critical aspects:

• Embedding AI in Corporate Culture: Cultivating a culture that embraces AI and encourages its responsible use is essential for long-term success.

• Hiring and Developing AI-Savvy Leaders: Identifying and nurturing leaders who understand the nuances of AI is crucial in maximizing its potential.

• Addressing AI-Related Risks and Ethical Concerns: Organizations need to approach AI with a thoughtful and proactive stance, addressing potential risks and ethical considerations in their AI implementations.

EVOLUTION OF EMPLOYMENT: In this evolving landscape, there's a notable shift in how people perceive work and their roles within organizations. Employees who have resigned or are contemplating a "quiet quitting" approach are signalling that their return to work in 2023 hinges on more than just monetary incentives, work-life balance, professional growth, or a sense of purpose. It's a nuanced blend of all these factors that is shaping their decisions.

For instance, in Europe, a substantial 35 percent of those departing their jobs are attributing their departure to unsustainable performance expectations. In response, organizations have the opportunity to adapt and tailor their employee value propositions to align with individualized preferences. By doing so, they can bridge the gap between the evolving desires of today's workforce and the essential needs of companies.

BUILDING CAPABILITY:In the developing operational arena, it's not uncommon for companies across various sectors to announce the inclusion of technological or digital elements in their strategic plans. However, the presence of these elements doesn't always align with the organization's readiness to effectively integrate them. To secure a sustainable competitive advantage, organizations must focus on the development of institutional capabilities.

Institutional capabilities encompass a seamlessly integrated blend of people, processes, and technological performance that collectively contribute to the organization's ability to consistently outperform its competitors. Achieving this involves addressing gaps in core activities, often stemming from resource limitations or a lack of unwavering commitment.

 CRUCIAL TALENT: For a considerable time, business leaders have walked a delicate tightrope, delicately managing budgets while striving to retain essential talent. In today's turbulent economic climate, organizations must shift their focus towards a more targeted approach - one that aligns top talent with the most high-impact positions.

While the concept isn't entirely new, it's a strategic imperative in an era marked by hybrid work models, increased workforce mobility, and skill shortages. Research from repeatedly underscores this need, revealing that a significant percentage, ranging from 20 to 30 percent, of critical roles within many organizations remain occupied by individuals who may not be the most suitable for these positions. Studies reveal, globally, that high impact talent deliver a vastly disproportionate amount of value. The challenge is to place this talent into positions that sustain the organization in the short and long term.  

SELF-AWARE LEADERSHIP: In the present landscape, leaders find themselves inherently focused on immediate responses to crises. However, they also bear the responsibility of maintaining a long-term perspective and nurturing behaviours that are well-suited for the organization's goals.

Effective leadership today encompasses the ability to lead oneself, guide a team of peers within the C-suite, and possess the necessary leadership acumen to operate at scale by orchestrating and inspiring networks of teams. This requires leaders to cultivate a profound self-awareness and a keen understanding of the dynamic operating environment that surrounds them.

D.E.I.: While many organizations are actively addressing diversity, equity, and inclusion (DEI), there's a common challenge: these initiatives often fail to translate into meaningful progress. What frequently seems to be lacking is a clear and strategic connection between DEI efforts and the broader business strategy.

One way forward is for leaders to adopt a more systematic approach from the outset. This involves carefully considering the objectives and the intended impact level of their DEI programs. To achieve their DEI goals, leaders must not only identify opportunities for progress within their organizations but also seek ways to enhance their external communities and society as a whole.

MENTAL HEALTH: Currently, nine out of ten organizations across the globe offer some form of well-being programme. Despite these well-intentioned interventions, global health and well-being scores remain distressingly low. Research underscores a clear connection between reports of poor mental health and well-being and various organizational issues, such as attrition, absenteeism, reduced engagement, and declining productivity.

Beyond 2023, organizations must shift their focus towards systematically addressing the underlying causes of mental health and well-being challenges. The days of relying on one-off or incremental fixes are no longer sufficient. It's imperative to adopt a holistic and sustainable approach to tackle these critical issues effectively.

EFFICIENCY: Amidst the prevailing uncertainty in today's business environment, organizations are shifting their focus towards efficiency measures. Notably, more than a third of survey respondents have ranked efficiency as one of their top three organizational priorities.

Efficiency enhancement goes beyond merely managing immediate crises or accomplishing the same tasks with fewer resources. It entails the strategic deployment of resources to areas where they can make the most significant impact. This approach promises substantial advantages, such as improved overall organizational well-being, enhanced shareholder returns, and quicker, more informed decision-making.

Becoming more efficient often necessitates placing increased trust in your organization and empowering your employees, allowing them to play a more central role in driving success.

THE GREEN DEAL: The European Green Deal, Corporate Social Responsibility Directive (CSRD), and their impact on Irish multinational companies:

EU Green Deal: The EU Green Deal is a comprehensive policy initiative by the European Union aimed at making the EU climate-neutral by 2050. It encompasses various strategies and measures to combat climate change, reduce greenhouse gas emissions, and promote sustainability across all sectors. This ambitious plan includes goals related to renewable energy, sustainable agriculture, biodiversity preservation, and the circular economy.

Corporate Social Responsibility Directive (CSRD): The CSRD is a proposed EU regulation that seeks to strengthen and standardize corporate social responsibility reporting requirements for large public-interest entities operating within the EU. It aims to enhance transparency and accountability by mandating detailed disclosures on environmental, social, and governance (ESG) matters, such as climate impact, diversity, and supply chain practices.

Impact on Irish Multinational Companies:

1. Compliance and Reporting: Irish multinational companies operating within the EU will need to comply with the CSRD's reporting obligations. This will require them to provide comprehensive information on their environmental and social impact, potentially leading to increased compliance costs and administrative burdens.

2. Sustainability Integration: The EU Green Deal's focus on sustainability aligns with the growing global trend toward ESG considerations. Irish multinationals will need to integrate sustainability into their core business strategies to remain competitive in the EU market and uphold their reputations.

3. Investor and Stakeholder Expectations: With the EU prioritizing sustainability, investors and stakeholders will likely place greater importance on ESG performance. Irish companies may face increased scrutiny and pressure to demonstrate their commitment to sustainable practices.

4. Innovation Opportunities: The EU Green Deal offers opportunities for Irish multinationals to innovate and develop products or services that cater to the growing demand for sustainable solutions. This could open new markets and revenue streams.