Will Enterprise Cloud Spend Get Squeezed in 2024?

 

 

 

by Anay Nawathe and Shreehari Kulkarni

 

2024 will see more conscientious cloud investments as enterprises seek to balance continued belt-tightening with AI hype.

 

Despite an unprecedented slowdown in hyperscaler growth in 2023, cloud spending will continue to be a top consideration for CIOs in 2024. In fact, many of the predictions we made last year still hold true for 2024. Enterprises will continue to choose their deployment models based on the specialized services they offer. Cloud cost takeout and optimization will remain a top priority. And cloud will continue to drive additional hype for tech trends.

With increased awareness of cloud capabilities and increased access to new technologies, enterprises will drive more business value in 2024 by strategically investing in their cloud initiatives. Here are the top three trends to look about for:

  1. Cloud FinOps will expand its scope and role. The increased scrutiny on spending in 2023 brought cloud FinOps to the top of cloud priorities for many enterprises. Leaders needed a way to optimize hyperscaler (e.g., AWS, Azure, Google Cloud) spend, particularly for IaaS and PaaS services. In 2024, enterprises will expand the scope of their cloud FinOps initiatives to include on-prem/private cloud cost optimization, cloud software (i.e., SaaS) optimization and cost management for AI development (MLOps). Companies will also use it to help calculate total cost of ownership (TCO) and return on investment (ROI) for cloud migrations and decisions and how they identify revenue-generating opportunities through cloud architecture changes.
  2. Widespread adoption of AI will fall short of expectations. Despite the tremendous hype around AI in 2023, many enterprises will be slow to invest in large-scale adoption of AI services due to the many associated challenges and risks, including data residency, security, cost, availability and skillsets. However, use-case-driven deployment and experimental evaluation of AI services will continue to expand through 2024. Cloud spend on AI will be limited in 2024 until the experiments indicate a proven ROI.
  3. AI-driven IT operations (AIOps) will be the new standard for operations. 2023 saw several proven AI-driven IT success stories that saved enterprises 30-60% on operations spend. This is largely due to sophisticated AIOps platforms that have entered the market. In 2024, the industry should expect significant adoption of these enhanced capabilities with most IT operations initiatives incorporating AI. The ability to analyze large volumes of data and recognize patterns in real time will significantly improve core operations functions like root cause analysis (RCA), anomaly detection, IT service automation, full-stack availability monitoring, capacity planning and IT service management.

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LinkedIn Jobs On The Rise 2024 Announced: The 25 Fastest-Growing Roles

 

 

 

 

by Luciana Paulise

 

 

In today’s rapidly evolving job market, it is crucial to stay informed about emerging trends as the skills required for jobs are continuously changing. From Chief Growth Officers driving revenue strategies to Artificial Intelligence Engineers crafting intelligent systems, the fastest-growing roles reflect the diverse and transformative nature of contemporary careers.

According to LinkedIn’s research, the skills needed for jobs have already changed by 25% over the past eight years, and this rate of change is expected to reach at least 65% by 2030, with AI further accelerating the pace of changeLinkedIn’s latest report reveals the 25 fastest-growing roles in the US for 2024, providing a valuable guide for career success. Take a closer look at the promising job landscape and discover the opportunities that are shaping the future of the workforce.

Here are the 10 fastest-growing roles in the U.S

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Motivation Up, Attrition Down: Employee Engagement

 

 

 

by Mathew Bidwell

 

 

Nano Tools for Leaders®  — a collaboration between Wharton Executive Education and Wharton’s Center for Leadership and Change Management — are fast, effective tools that you can learn and start using in less than 15 minutes, with the potential to significantly impact your success and the engagement and productivity of the people you lead.

The Goal

Strengthen the bond between your employees and your organization.

Nano Tool

The success of your business depends on many factors, but arguably none matters more than the talent and performance of your workforce. That’s because, according to the Society for Human Resource Management, employees have a profound effect on those other factors (think customer satisfaction, company reputation, and overall stakeholder value), both positively or negatively, depending on their level of commitment and connection to your organization.

A renewed focus on engagement — which can significantly affect employee retention, productivity, and loyalty — is especially important in a tight labor market, in which you are competing for talent with rival organizations and the cost associated with onboarding new employees is at an all-time high. Improving engagement can also result in significant saving, as it has at beverage giant Molson Coors, where highly engaged employees were five times less likely than nonengaged employees to have a safety incident and seven times less likely to have a lost-time safety incident. By strengthening employee engagement, the company saved $1,721,760 in safety costs in one year.

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Three “Bad Boss” Habits to Avoid in 2024

 

 

 

 

by Graham Ward

 

Resist the urge to emotionally detach, control outcomes or blindly comply.

As the new year swings open its doors, promising a fresh start and a burst of motivation, it also brings the daunting prospect of having to do it all over again. Despite our best efforts to lead with empathy, authenticity and clarity, we often find ourselves slipping back into bad habits that can frustrate our teams and harm our organisations. 

The characteristics of good bosses is a subject of ongoing debate. Countless books are written on the topic each year, many of which offer inconclusive findings. However, certain fundamentals remain unquestionable: a clear vision; a well-defined and aligned strategy; an inclusive, intellectually stimulating, and creative work environment; and a commitment to developing employees to their full potential.

While this looks achievable on paper, events often derail us from our “true north”. When emotions run high, we become susceptible to falling into three mindsets that undermine our effectiveness and erode trust within our teams.

1.The self-protector

These leaders are driven by a need for self-preservation, which manifests as aloofness and a preference for intellect rather than empathy in their leadership approach. For these bosses, displaying vulnerability is considered a sign of weakness. This emotional detachment creates a sense of distance and disengagement among their followers. 

Often found in engineering and scientific fields, these leaders need to recognise that vulnerability is not a weakness but rather an appealing and humanising quality.

Pope Francis is a great example of a leader who has fostered emotional closeness and tried to bridge the distance between himself and his followers. Unlike his predecessor, Joseph Ratzinger, he has made himself a man of the people by making bold strategic decisions that break with tradition and expressing himself with candour and authenticity.

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HR needs to change to meet business needs. Here’s how

 

 

 

 

by Dr. Christian Schmeichel

 

The last few years have forced HR professionals to face a tremendous shift in their functions. Technological advances, business model disruption, a new generation entering the workforce and, not to forget, the global COVID-19 pandemic all contributed to unprecedented change in our world of work. While the HR function was required to quickly implement one targeted organizational intervention after the other, HR leaders have recently been asked to shift gears and adapt to changes in employee loyalty and engagement.

study by KPMG found that over 60% of HR functions are having to alter their employee value proposition (EVP) in response to the current labor market—one where employees look for the right level of flexible work offerings, learning and growth opportunities, and strong benefits. If their current employer doesn’t meet their expectations, they are willing to switch companies for a better fit. Understandably, this requires HR leaders to shift their approach and design strategies to meet this new challenge.

Here are four key ways to accomplish this.

Prioritize the employee experience

Traditionally, the HR function has been rather siloed: There are specific models for training, rewards and other disciplines that all remain in their particular verticals with very few cross-functional opportunities. With data showing that organizations in which HR facilitates a positive employee experience are more likely to report outperformance, it is time to revisit and redesign those models. Continue reading