Winter 2014 TayganPoint Newsletter - Q4
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The Value of Change

As we near the end of 2014, we do so with a sense of renewed energy and focus to proactively and creatively tackle the issues facing us.

We are excited about opportunities to educate, serve and advise you in the coming year. As we’ve all learned, it’s bold thinking and innovative ideas that are critical in times of uncertainty.  TayganPoint is committed to helping you plot a course toward achieving your objectives.
We hope you enjoy this issue, which covers a wide variety of topics. Our first article, An Executive Perspective on Change will offer insight on bridging the gap between the corporate office and the team in the field.  We also explore the importance of diversifying your supplier network in The Multi-Sourcing Strategy. And for those of you who may have missed our recent forum on Shared Services & Outsourcing, we revisit some of the event highlights.
We’re looking forward to a successful 2015 and believe the coming year will be an exciting one.
Joy Taylor & John Cassimatis
Co-Founders, TayganPoint Consulting Group

An Executive Perspective
on Change: Bridging the Gap Between Corporate & the Field
By Sondra Leibner, Sr. Consultant, TayganPoint

Executives who have found themselves in charge of leading change in their organizations have learned that these assignments have the ability to define a career. 
Leaders who successfully implement these sorts of change initiatives do so by using three not-so-obvious components of engagement and implementation.

Own the change with both your head and your heart
When a leader is asked to lead a change, they need to ask themselves if they truly believe the change is right for the company at this time. Engaging in thoughtful, provocative and difficult conversations before committing to lead a change is critical. If a leader lacks authenticity in their words and actions, it will be obvious and people will react accordingly. They will be grudgingly compliant (or not) until this flavor of the month passes.
However, when a leader is truly committed to a strategy, initiative, project or direction they will naturally inflect their message with both passion and a sense of genuineness.  Personalizing the content ensures their commitment to the change is well understood.
Engage with your heart (and your head) and people will follow.
Create a team you can count on
Change cannot be accomplished without a team of committed leaders. Without connecting personally to the change, you will not be able to engage your team. Asking an individual to work on your behalf and introduce a new way of doing things should not be taken lightly. Allow each person on your “dream team” to own the change and be sure to provide the appropriate level of time and conversation to ensure they are as committed as they need to be in order to stand in the face of “that’s the way it’s always been done.”
As often as possible, deliver the message yourself
The best way to ensure people will listen, believe the message, and buy-in to the concept is to hear a consistent message delivered by someone who holds a position that can actually create change. As a leader trying to effect change, you also need to be willing to listen and respond to what people are saying in a way that brings them closer to the change. Invite people to share their concerns, issues and sometimes negative passion so they can participate in creating the “right” change.
 “You can't build an adaptable organization without adaptable people--and individuals change only when they have to, or when they want to,” says business strategy expert, Gary Hamel.  The key is making people want to change. And the only way to do that, is by connecting with both their head AND their heart.

The Multi-Sourcing Strategy: Leveraging Multiple Suppliers for Optimal Performance
By John Collins, Sr. Consultant, TayganPoint

Multi-tool, multi-channel, multi-use, multi-service, multi-task.  In our lightning-fast , high-demand society, nothing is content to serve a singular purpose anymore.  
Yet, that was the original goal of traditional outsourcing as a business practice – tried and true cost reduction through improved efficiency.  Simple, right?  While cost savings are still a significant benefit, companies are now partnering with a variety of best-in-class service providers to gain access to world-class capabilities while freeing up internal resources to focus on core competencies and innovation.That brings us to yet another “multi” to mull over – Multi-Sourcing.  This has become the latest trend in the procurement space – maximizing the strategic benefits of outsourcing by assigning business functions to the best possible provider, while also driving lower costs through competition.   Multi-Sourcing is also a way of reducing the inherent risks and lack of flexibility that is often associated with being locked in to a single vendor. 

With all pros, also come cons.  While the Multi-Sourcing model does offer significant benefits, it is more complex to manage given the multiple touch vendor touch points.  As such, it will require strong procurement governance as well as a mature Vendor Management Office (VMO) to oversee the selection process and to manage ongoing vendor relations and performance.  Despite the added complexity and resource investment, the improvement in service levels, cost-benefits and risk-reduction make Multi-Sourcing it a viable alternative to a traditional Sole-Sourcing approach.   Think about it this way, a great sports team is always made up of the best players they can find to produce a winning result

Event Recap:  2014 Shared Services & Outsourcing Forum
By Andrew Hunter, Principal, TayganPoint

TayganPoint Consulting was pleased to host over 50 executives from 12 different organizations at a Shared Services & Outsourcing forum event on November 5th. Attendees listened as TayganPoint and three guest speakers presented their views on the topic. 
This was followed by a lively group discussion moderated by TayganPoint where participants asked questions and shared their experiences. Shared services strategies and practices are clearly evolving as evidenced by some of the key themes explored at the event:
  • How to demonstrate value beyond cost reduction
  • Expanding scope of shared services beyond HR, finance and IT
  • Making shared services a strategic enabler for the business
  • Global networks of shared service centers
  • What is the right balance of outsourcing and shared services
  • Providing value and new insight through analytics
Attendees were given the opportunity for more one on one discussion following the more formal portion of the event. The feedback was great and we certainly plan to host more events like this in the future.

The Forum was facilitated by TayganPoint co-founders, Joy Taylor and John Cassimatis and guest speakers included  Christina Morrison, Senior VP of Finance at Aramark; Gareth Morgan, Senior VP  of Business & Finance Services at Bristol-Myers Squibb; and Bill Stolte, Executive Director of Business Performance Analytics at Merck.

If you have an interest in shared services and would like to know more about the issues discussed in this forum then please contact Andrew Hunter, Principal Consultant at TayganPoint.
TayganPoint Consulting Group  |  243 N Union Street, Suite 210  |  Lambertville , NJ 08530  |  P:  609.460.4211
Copyright © 2014 TayganPoint Consulting Group, All rights reserved.

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