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Automation is changing the workplace as dramatically as the machines of the Industrial Revolution changed the factory floor. According to the 2021 Gartner Board of Directors survey, over 69 per cent of boards of directors demanded a path to accelerated growth and operational excellence, with 65 per cent looking to increase the pace of digital business.
If anything, automation is rapidly becoming a critical must-have capability in business to thrive and scale efficiently; not merely an essential survival tool for businesses. Those quick to implement have been able to scale with greater efficiency and increase their productivity, seemingly combating the widely felt (and frequently hindering) market instability.
Understanding and harnessing the big data provided by these new technologies will be essential to inform strategic planning, enable the prioritisation of digital transformation, and help businesses become more pre-emptive, predictive and less reactive. So, what happens next and how must business leaders adapt?
On 10 May 2020, the UK Government outlined its plans to enable certain sectors in England to return to work amid the COVID-19 pandemic. The devolved administrations in Scotland, Wales and Northern Ireland have continued the period of lockdown. In any event, employers must plan ahead to reopen workplaces safely and in compliance with ever-changing laws and regulations. Employers should become familiar with guidance published by, among others, the UK Government, relevant national health departments (e.g.Public Health England), and the Health and Safety Executive, in addition to any relevant sector-specific bodies (such as trade associations or trade unions) and professional organisations.
On 20 March 2020, the UK Government published its Corporate Insolvency and Governance Bill (the “Bill”) which amends certain aspects of current insolvency and governance legislation to provide businesses with the flexibility and time they need to continue trading during the Covid-19 pandemic. This Client Alert provides: (i) an update on how FTSE 350 companies have reacted to the COVID-19 restrictions in place to date; and (ii) a summary of the measures proposed in the Bill to provide companies with temporary easements on the holding of meetings, including annual general meetings (“AGMs”) and corporate filing requirements.
Since our last Client Alert on Practical considerations: the impact of COVID-19 on the holding of annual general meetings, the UK Government has issued its compulsory “Stay at Home Measures” prompting ICSA to issue supplementary guidance regarding how listed companies incorporated under the UK Companies Act might implement contingency plans in light of such measures.
This Client Alert provides a summary of the guidance issued and how FTSE 350 companies are reacting to the “Stay at Home Measures”.
As the world confronts the Coronavirus crisis, many employers in the UK and globally are keen to embrace new technology as part of their response to the pandemic. There are a variety of tech-based tools that may be developed or adapted with the aim of ensuring a safe workplace for employees amid the new challenges posed by the spread of Coronavirus. To the extent that these may impinge on the privacy or other rights of workers, their adoption and implementation requires particular thought and care. In this briefing (and the Appendix) we set out some of the considerations and practical steps for employers.
The precautions being put in place globally to address the spread of Coronavirus (COVID 19) include recommending or requiring many people to work from home. This has raised the question of how to execute documents in these circumstances and whether it is possible to legally execute documents by electronic signature. The appropriate method of execution will depend on the applicable fact pattern. Relevant factors include the governing law of the document, the type of document that is to be signed, the form of electronic signature used and any cross-border implications to be considered. This briefing provides a summary table of how certain jurisdictions view three different types of execution - email execution, jpeg signatures and e-signature platforms.
Artificial intelligence is being extensively used across sectors and around the world, but without comprehensive legal frameworks and appropriate governance and compliance programmes in place, regulators are starting to fill the gap.
At Iberdrola, our long-standing business model and corporate culture is rooted in social responsibility. We believe that serving only our shareholders is not enough. While we have to take note of investors, we must look after our workers, too. Most importantly, we need to consider society and the communities in which we operate.
Our social responsibility and sustainability policies now incorporate the UN Sustainable Development Goals, and our senior leaders are driving a co-operative culture of integrity and transparency.
Businesses must gain the trust of consumers
Companies that are viewed as “not playing fair”, perhaps those that put shareholders before other stakeholders, lose public trust.
Such confidence has to be earned. Ultimately every business builds its reputation with its actions – past, present and future.
A greater emphasis on stakeholders
Since Covid took hold, the onus has been on businesses and governments to adapt. The way organisations work, with and for their stakeholders, is under the greatest scrutiny.
When the first signs of the virus emerged, Iberdrola’s worldwide action plan was put in motion. We moved quickly to guarantee the electricity supply for our 100m customers, including payment options and free services for those who are most vulnerable. We also reinforced the protection of the services we provide to hospitals, healthcare centres and other essential infrastructure.
On top of that, we committed €27m via donations to help the communities we serve. Much of this money was spent on medical supplies and personal protective equipment.
The post-pandemic corporation
What is clear is that good intentions are not enough. Businesses have to articulate their purpose and the role they play in society and this must be backed up by actions and commitments.
The coronavirus pandemic has stressed the importance of resilient economies. Covid has put businesses under extraordinary stress: it has tested the strength and flexibility of every company.
It has also caused data use to surge, which has added to the pressure on the telecoms sector. About 60 per cent of Britain’s adult population is working from home, and more people than ever are using video conferencing and streaming services for meetings and entertainment.
Huawei engineers have worked around the clock with our customers – the UK’s mobile and broadband companies – to keep the system up and running.
Mostly, this has been successful. Some people, though, will have struggled to download large files or watch films, or seen a video-call screen freeze. Slow connections are not just frustrating, they make it harder to do business.
The experience of Covid-19 will accelerate the shift to digital services, from how we make payments to the automation of manufacturing. This will increase pressure on the networks and the system overall, so new technology is vital and fibre and 5G must be the priority.
New networks will boost the capacity of our mobile and broadband services so we can manage growing demand. They will help us to connect the areas of the country that have been left behind (about one in five people, by some estimates).
Better networks will be vital for a resilient economy. The good news is that they are already being rolled out. Huawei helped build the 3G and 4G networks and it is now assisting telecoms companies to bring the latest technology to the UK.
However, in telecoms, as in other sectors, there are calls for supply chains to be “onshored” and trade limited “to ensure security of supply”. With 5G, much of the conversation in the UK centres on the US trade war with China, protectionism and in some cases a distrust of foreign companies.
This short-sighted approach would leave telecoms – and in turn the economy as a whole – more exposed to operational disruption, with higher costs and less competition.
With fewer suppliers to choose from, resilience would be sacrificed. There would be less choice and less competition, which in turn would affect innovation and lead to a poorer choice for consumers.
To keep prime minister Boris Johnson’s election promise to bring “full-fibre and gigabit-capable broadband to every home and business by 2025”, the focus must be on delivering a high-speed digital network, and greater connectivity will drive the economy forward.
The industry and Huawei, encouraged by the regulatory direction and legislative proposals so far, stands ready to support this.
The best source of economic resilience is open and competitive markets. These will allow companies to use suppliers from around the world while driving innovation using common standards.
These are the principles the UK government has promoted in its detailed review of the resilience of the telecoms supply chain.
