iWay with record result of 40.6 million Swiss francs
Internet provider iWay has achieved a new record result in the fifth year after its takeover by SAK (St. Gallisch-Appenzellische Kraftwerke). Thus, sales in the financial year 2022 increased by 10.1 percent to 40.6 million Swiss francs compared to the same period of the previous year.
Editorial - April 24, 2023
Was allowed to present a record result for the 2022 financial year: iWay CEO Markus Vetterli. (Image: iWay)
Internet provider iWay reports record results thanks to solid growth and the use of synergies with SAK Digital. The 22 percent increase in net profit was particularly pleasing, the company announced on April 20. "The fact that we were able to exceed the CHF 40 million mark for the first time, despite the highly competitive market, is due in no small part to our continued investment in marketing our services," said iWay CEO Markus Vetterli. "These efforts have contributed to continued growth in sales through our online channels." iWay's core Internet business, which accounted for 59 percent of total sales, increased sales by 6.5 percent to CHF 24 million in 2022.
Synergies with SAK
Vetterli sees another important factor in the success in the use of synergies with SAK Digital, the parent company's telecom division. These economies of scale made it possible, among other things, to win over a local energy supplier for the joint TV platform and other services. This utility not only opted for the TV services, but also for the operation of an XGS-PON network, which iWay implemented together with SAK.
More moderate growth expected
"We achieved growth in Internet connections above the market average in 2022. Unlike our market competitors, however, we were also able to retain our existing customers. Nevertheless, our core business will continue to be highly competitive in the future, as price pressure will continue," said Vetterli. In addition, despite Swisscom's agreement with the competition authorities, the problem of the delay in rolling out the fiber-optic infrastructure will continue to have an impact on marketing in 2023. In the telephony segment, on the other hand, Vetterli expects further growth. On the one hand, iWay will continue to drive forward the marketing of VoIP offerings in the B2B area. On the other hand, the company expects significant growth in the mobile offerings newly launched in 2022. The iWay CEO is generally positive about the future: "We expect further revenue growth in the current fiscal year. However, it is likely to be more moderate than in 2022."
Nadja Mauchle and Ralph Schmid are now developing their Marketing and Corporate Communications department together as a tandem and living the co-leadership model. Together they share a seat on the Executive Board and are committed to diversity, equality and inclusion in the company.
Editorial - April 24, 2023
Nadja Mauchle and Ralph Schmid practice the co-leadership model at Canon Switzerland. (Image: Canon / Wasinger Media)
Nadja Mauchle and Ralph Schmid have combined their roles and management responsibilities and will now jointly lead the Marketing and Corporate Communications departments at Canon Switzerland in the form of co-leadership. As a result, they also share representation on the Executive Board. The changing world of work in the direction of New Work and organizational necessities gave rise to the questioning of familiar hierarchies and conventional leadership models.
Co-leadership with advantages
In the henceforth shared leadership role, decisions are based on different perspectives, dual professional experience, more knowledge, capacity and flexibility: "Shared leadership offers numerous advantages. Together we bring a broader expertise, due to our different experiences and skills. This contributes to holistic decision-making and more diversity of perspectives," explains Nadja Mauchle. "It also helps to make difficult decisions in a more reflective way," adds Ralph Schmid. "Co-leadership is a possible model for the future, which helps to promote the knowledge and skills of individual team members on a more individual basis. Ultimately, our customers and partners benefit from this, as do the teams within the organization," Schmid concludes.
Japanese company philosophy
Mauchle, who brings her strengths in strategic positioning and solutions business, has been with Canon Switzerland for 10 years with a brief interruption, during which time she has held various positions in sales and marketing. Schmid has been contributing his expertise in corporate communications as well as product, content and video marketing since 2016.
Co-leadership is based on the Japanese corporate philosophy Kyosei "living and working together for the common good." "This is directly in line with our branding strategy innovative, visionary and courageous. We see the co-leadership model as an enrichment for the company, as it brings the individual strengths of the two together even more diversity to the management team," says Markus Naegeli, CEO Canon (Schweiz) AG.
Investment in innovation to grow at double-digit rate until 2026
Despite an uncertain economic outlook, manufacturing companies worldwide are increasing their spending on developing new products and optimizing existing ones. Investments in digital innovations will increase by an average of 19 percent per year around the globe until 2026. This is the result of a survey.
Editorial - April 24, 2023
It won't work without investment in innovation. Accordingly, companies will make strong gains in this area by 2026. (Image: Pixabay.com)
Inflation is high, the economy is limping. Nevertheless, industrial companies around the globe are planning to massively increase their spending on engineering, research and development (ER&D) and thus innovation in the broader sense in the coming years. According to the report, global ER&D budgets in key industries such as automotive, energy and mechanical engineering could increase by an average of 10 percent annually until 2026. These are the findings of the first "Global Engineering and R&D Report" by international management consultants Bain & Company, for which more than 500 high-ranking executives from key industrialized countries worldwide were surveyed. Drivers and restrictions are highlighted, as are the reasons for outsourcing ER&D activities, which manufacturing companies across industries are increasingly opting for.
Greater importance attached to innovations
The fact that the willingness to invest is high despite the weak economy comes as no surprise to Bain partner and study author Daniel Suter: "Spending on innovations is now often at the heart of strategic considerations. It no longer only serves to develop and optimize products, but at the same time prepares the ground for further developing business models or even reinventing them in parts."
The greater importance attached to innovations is closely linked to ongoing digitization. According to the Bain study, ER&D spending on digital products and services will increase globally by an average of 19 percent per year until 2026 - almost twice as fast as overall investment. "Industrial companies in the DACH region should also push their activities in this area," emphasizes Suter. "Past experience has shown that investments in innovation during a downturn often translate into a sustainable competitive advantage. And recent job cuts in the technology sector make it easier to recruit digital talent."
Facing up to the shortage of skilled workers
In addition to innovative products and services, the most important thing is to invest in personnel. In order for industrial companies to drive their ER&D activities forward, they need highly qualified specialists and managers. But there is now a global shortage of these. According to the Bain study, 73 percent of respondents are talking about personnel bottlenecks. And the retirement wave of baby boomers has just begun. What's more, as engineers get older, they often move on to other roles, making the shortage of development personnel even greater.
Bain partner Michael Staebe, who heads the Industrial Goods and Services practice group in the DACH region, calls for a rethink: "In a time of global skills shortages, it is not enough to woo rare talent with elaborate campaigns. It is at least as important to create attractive framework conditions for the existing workforce, and especially for engineers, so that they can continue to develop."
Investing in innovation for results-oriented solutions
Only those who rise to this challenge and make appropriate offers will be able to meet the changing demands of the market. The focus is increasingly less on the products themselves and more on results-oriented solutions for which customers pay according to availability. "Industrial companies need to tap into new forms of value creation," Staebe explains. "If they don't invest in innovation or an improved customer experience, they risk being marginalized by more flexible competitors."
Those involved in the Bain study are well aware of this danger. This is another reason why three out of four respondents consider shortening development times to be a top priority. They attach almost as much importance to the integration of new technologies. This includes not least artificial intelligence. For German managers, dealing with the high cost pressure is also an urgent topic.
Defending technology leadership with partners
In order to achieve rapid development successes with scarce human resources, more and more companies are working with external partners. According to the Bain study, 60 percent of manufacturing companies plan to outsource a larger part of their innovation activities in the coming years. To date, the outsourcing rate of large companies has averaged 18 percent. Compared to the IT sector, for example, this is rather low. There, the outsourcing share now amounts to 46 percent. When choosing an external partner, expertise plays the central role. Costs are only the second most important decision criterion.
The fact that manufacturing companies around the world are increasingly outsourcing ER&D activities is a fundamental change in the view of Bain partner Suter: "Traditionally, industrial companies have done everything they could to drive developments for the core business in-house and only outsource upstream or downstream stages of the value chain. Now, even the core business is no longer taboo in this regard." The cooperations of car manufacturers with chip producers and Internet giants are just a harbinger, he says. For Suter, one thing is certain: "The industry in the DACH region can only defend its technology leadership by closing ranks with partners."
Many companies are currently looking for experienced specialists and managers. Nevertheless, older employees often find it difficult to apply successfully - among other things, because their already yellowed references usually say little about their current skills.
Thomas Fischer - April 21, 2023
In the case of graduates, resumes are usually clear when applying for a job. But what happens when an "old hand" whose diplomas are as old as 20 years applies? (Image: Pixabay.com)
You can find numerous job application guides in any well-stocked bookstore. However, these are usually aimed primarily at (high) school graduates. If, on the other hand, you look for appropriate guides for experienced specialists and executives, the result is usually the same: Missing. Only very few guides touch on their situation.
The starting position of experienced job seekers and newcomers in the job market is very different. Almost all paths are still open to a freshly graduated business economist or lawyer. This is different for job seekers who already have ten or even 20 years of professional experience. For them, the professional course has already been set. This limits their possible field of work. What's more, while the ink on the diplomas of recent (high) school graduates is often still wet, the diplomas of their older colleagues are usually already yellowed. They say little about their current skills, because in the course of their professional lives they often grew into completely new areas of responsibility.
Perceive alarm signals
Another difference: For singles looking for their first permanent position, it usually makes relatively little difference whether the job search takes them to Berlin, Zurich or Vienna. It's a different story for experienced professionals with children and kids. They have more to consider when choosing a place to work. Nevertheless, the academics among them in particular often have to apply nationwide. The more specialized and qualified their previous tasks, the rarer the jobs that fit their profile.
That's why older employees should pay close attention to when the time for developing a new career perspective is approaching. Many miss this opportunity. After all, a student writing his or her bachelor's or master's thesis knows exactly, "In six months, my studies will be over. So I should start taking application photos." Such hard signals that the time is ripe to reorient oneself often do not exist among professionals. Usually, the signals are rather weak. For example: the boss suddenly gives important tasks to a colleague. Or the promised salary increase fails to materialize. Or there is hectic activity on the executive floor.
Do not suppress danger
If you ask older unemployed people whether their dismissal came as a surprise, many confess: It was foreseeable. But they repressed the threat. For understandable reasons: Older workers often have to rethink their entire life plans when they lose their jobs. That's why professionals should listen to the warning signs and not turn a blind eye. After all, HR managers are usually more sympathetic to applicants who still have a job than to applicants whose foreheads are already adorned with the mark of Cain "unemployed."" In addition, the more time there is to apply, the greater the chance of finding a job in the surrounding area. In addition, (still) job holders act more confidently.
One problem many older job seekers have is that it is difficult for them to prove their competence. After all, their 15- or 20-year-old diplomas say little about their current skills. Job references also usually only vaguely describe the activities performed. In addition, many personnel managers have little confidence in them. After all, they don't know whether the old employer formulated the reference so positively in order to save on severance pay or because the applicant really is top-notch.
Analyze experiences
When trying to explain this, it is often helpful to describe the problems the applicant solved at his or her previous employer. If the tasks and problem-solving steps are outlined briefly and concisely, this makes the competence transparent.
Generally speaking, companies expect more informative applications from "old hands" than from career starters. If career starters write "I read your ad with interest" in their cover letter and then briefly describe their resume again, they will be forgiven. Companies expect more precise statements from experienced professionals about why they are applying to them and why they would probably be valuable employees. This is also true in times like the present, when many companies are desperately looking for employees, but usually not just any employees, but highly qualified ones who ideally need almost no training time.
Determine special knowledge
Many experienced applicants find it difficult to explain this in writing to potential employers in their applications. Because they usually don't know: What "pounds" can I put on the scale? They often only refer to their professional expertise and industry knowledge. But companies also have different structures and cultures. That's why they also have specific problems and processes for solving them. Consequently, they also need different employees.
Here is an example: specialists and managers in medium-sized companies usually need broader qualifications than group employees, because in small and medium-sized companies there are not so many specialists to delegate tasks. In addition, their employees must not be "too shy" to bag letters from time to time. A job seeker who works in a small family business can bring just this to bear when applying for a job - even with large companies that want to subdivide their organization into smaller, more flexible units. Older job seekers should identify such special skills and experience - if necessary with the help of a career coach - so that they can make targeted applications. After all, the fact that they are experts with professional experience should also be reflected in their approach to applying.
To the author: Thomas Fischer is Senior Consultant at the management consultancy Kraus and Partner, Bruchsal. He specializes in the areas of turnaround, transformation and change management, among others.
Preview Swiss Quality Day 2023
On Thursday, May 11, 2023, the next Swiss Quality Day will take place in the Kursaal in Bern. For once, it will not be about "technical" topics around quality, management systems and continuous improvement processes, but about people.
Thomas Berner - April 20, 2023
Focus on people: This is the theme of the Swiss Quality Day 2023 on May 11 in Bern. (Image: zVg / SAQ)
It is well known: The digital and ecological transformation as well as demographic change pose major challenges for companies. Organizations must adapt and develop new structures in order to remain competitive in this constantly changing environment. For the area of quality, this means that companies must also adapt their processes, products and services to the new requirements. But how can this be done? Which organizational forms, methods and strategies help? Can human capital be kept in focus, or should companies adapt to new leadership approaches and management concepts? And how can companies position themselves as responsible players in order to remain attractive as employers in the competitive market for skilled workers? These questions will be addressed by various speakers at the Swiss Quality Day 2023. The event is the main annual event of the Swiss Association for Quality SAQ.
"New Leadership": From an Economic and Sporting Perspective
Prof. Dr. Lukas Scherer, Professor for Organization and Leadership at the Institute for Organization and Leadership (IOL) of the University of Applied Sciences Eastern Switzerland, will start the discussion. He focuses on strategic corporate and organizational development. His presentation will focus on change within organizations. Agile and thinking employees are in demand. But this also brings with it a new expectation of leadership. "New leadership" is in demand, and the speaker will provide various impulses in this regard.
The presentation by Ana Campos, Managing Director of the consulting firm Accenture, is entitled "New Work Needs New Learning. It will address the question of what skills are needed for the new forms of work and how ready companies are in this regard.
Kathrin Lehmann, SRF's soccer expert, then takes up the proverbial ball from the sporting side: "Resilience in business and sport, or: The dance around the corner flag," is the title of her presentation. What elements can business learn from top-level sport? And where do both sectors reach their limits? The speaker will pit business and sport against each other in a playful comparison.
Diversity, error culture and health promotion
The second part of the conference will start with a panel discussion on "Switzerland's best employers: What do they do differently?" This will be followed by three parallel workshops in Open Sessions. In one of these workshops, event partner Shift Switzerland will present examples from the business world of how diversity can be shaped in sustainable project cooperation. The focus will be on both opportunities and risks, as well as on what leadership qualities are required. A second workshop - conducted by Size Consens AG - is dedicated to dealing with mistakes and developing a culture of mistakes in companies. And the third parallel workshop under the aegis of Health Promotion Switzerland will focus on opportunities and challenges in occupational health management in the context of the new world of work.
The authors Mikael Krogerus and Roman Tschäppeler, known for their bestsellers "Small Books for Big Questions" and their columns in "Das Magazin", will close the event. They will humorously present some figures of thought and patterns of action around the topic of "Work Life Skills".
Swiss Quality Day 2023 again with Seghezzi Prize
Another program item on Swiss Quality Day 2023 will be the awarding of the Seghezzi Prize. This award will once again be presented to a person whose thesis deals in an innovative and practically relevant way with questions and approaches that address the topic of "Integrated Quality Management and Sustainability" in a discipline-specific or cross-disciplinary manner.
Good change management: Don't be afraid of change!
Many people react to the topic of change management with resistance or fear of change. Yet change management is often the key to a company's success and more satisfied employees. So how can change management be implemented to the satisfaction of all stakeholders involved and why are communication and empowerment the decisive success factors?
Rafael Koch - April 19, 2023
Good change management is sustainable, so it takes time for the expected results to show. (Image: Pixabay.com)
Change management is the systematic adaptation of a company to changing circumstances. It is important because it helps companies adapt to changes outside their control through a series of methods and processes. Through good change management, companies can reduce the internal resistance that often arises during transformations. This is why the point in time when a company should initiate a change management process at the latest depends on various factors, depending on what the company specifically wants to change: A good time is as soon as a significant change in structures, processes or technologies is to take place within the company. This means, for example, a restructuring of a department, a new corporate strategy or the introduction of a new technology. It is important that the process is initiated as early as possible. The beauty of change management is that it is a universal tool for really any company that wants to implement the changes just mentioned in its business operations. Here, the duration of the change depends heavily on the complexity and scope of the change process. As a rule, however, one can assume a time span of at least a few months, and in some cases even up to several years.
Successful transformation in 5 phases
There are many different frameworks for implementing a change management process. Well-known models include those of Lewin, McKinsey, Kübler-Ross and the psychotherapist Virginia Satir. What all these frameworks have in common is that they start from different phases that usually accompany a profound change, such as shock, resistance, fear, denial, etc. At the end of a successful change management process, there is always acceptance of the new, which can then be integrated into one's own personality and environment in a value-creating way.
Since companies are mostly hierarchically organized and if the change has a clearly defined outcome and a known solution path (guiding questions: "What do we want to achieve?" as well as "How do we achieve it?"), I recommend the phase model of traditional project management, which includes five following phases:
Analysis and Initiation:This is about taking stock and determining the current state with regard to whether a process or activity needs to be changed.
Planning:The second step focuses on the development of a change concept and the creation of a corresponding plan.
Implementation:In this phase, the change concept is implemented and the change plan is implemented.
Control:This phase is used to monitor the change process and ensure that deviations are identified.
Graduation:In the final phase, the change process is evaluated in retrospect, the new processes and systems are monitored, and a final report is prepared.
Even in this traditional model, there is what is called a "change request" that accounts for change. For change requests where the outcome is in complex space (see Stacey diagram), i.e. the "what" and "how" are rather unknown, it can help to use an agile framework. In this way, changes can be implemented in small sub-steps and controlled in the follow-up before the next step is taken.
Working completely agilely in sprints using SCRUM, for example, is a helpful approach, especially when there are many uncertainties in the new environment. The Plan-Do-Check-Act cycle, on which SCRUM is ultimately based, is already familiar to many companies in the area of quality assurance. The "Check" artifact of the PDCA cycle or, in SCRUM, the "Review" and the "Retrospective" are of particular importance because they involve all stakeholders and shape the change process. The goal and the environment therefore dictate the right tactics, namely those that promise success.
Impulses from the management level
Good change management begins with a clear vision from the management team of how and where the company wants to develop in the future. If those responsible are committed to this, they create an environment in which employees can prepare themselves internally for the upcoming changes. After all, those who can understand the opportunities of change accept them more easily. In order to integrate all the company departments involved in the change process in a value-creating way, a change management team or a change management representative should first be selected to assume responsibility for implementing the change process. If this is an entire team, it should be made up of people from all the departments involved and be interdisciplinary. It helps the departments involved by creating schedules, providing resources and monitoring progress.
3 basic rules for building a change management team:
Recognize capabilities: Those involved in a change management process should have certain skills so that the change can succeed. In addition to technical and organizational knowledge, these include attributes such as strong communication skills, stakeholder management, patience and leadership. Of course, these skills do not have to be bundled in a single person - it is even better if the team represents as many different perspectives as possible.
Grant resources: Change management is definitely exhausting, which is not only due to the upcoming change as such, but also to the time aspect. It is therefore important that the stakeholders involved have access to the above-mentioned resources during the process. If they do not, delays, frustration and mistakes will result.
Give confidence: Because that is the basis for getting involved in the change inwardly in the first place and then being able to carry it through successfully outwardly.
Breaking through negative defensiveness
Regular feedback loops between the departments and the change management team are particularly important here, because this is the only way to ensure that the jointly agreed changes can be implemented successfully. In addition to these formal aspects, an appreciative and cooperative attitude on the part of all team members is immensely helpful. It should come as no surprise that this does not always meet with acceptance from all those involved right from the start. In most cases, reluctance is related to the fact that change management processes initiate a change that means saying goodbye to familiar things that suggest security. This can then lead to negative feelings among some of those involved, which are related to the fear of the unknown. Ultimately, this is human and also normal to a certain extent. Each and every one of us has certainly been in a completely new situation that seemed uncontrollable and to which we then reacted with defense mechanisms. During change processes in companies, such feelings can be triggered especially when employees feel threatened or blindsided by the new and have not been given enough information or time to understand the changes. Managers have the important task of conveying security and clear goals and of leading by example.
Appreciation and cooperation
Successful change management involves everyone. Because those who can understand the need for change, see its opportunities but also the associated risks, can also accept a change. Such involvement can take the form of workshops or training sessions, for example. It is important to address and take seriously any concerns and doubts, but also all ideas and opinions of the employees and to actively involve everyone in the change process. Empathy with those involved is crucial and conveys understanding and acceptance. This does not mean that there has to be unanimity in the approach or that decisions have to be made democratically. It is also helpful to involve those employees who have a strong positive influence on their team members, regardless of their position. This is because these people usually act as role models and, comparable to "influencers" in the social media, influence their environment with their point of view and behavior.
Patience is the mother of all change
It is important not to assume that the initiated change processes will immediately deliver final results visible to all. Good change management is sustainable, and therefore it takes time for the expected results to become apparent. It makes sense to create success criteria along the way that can be measured. Four out of five stars in a survey is another such measurement result.
Author: Rafael Koch is Head of Customer Success at Operations1. Together with his team, he introduces Operations1 software to customers and has successfully supported many change management processes. Prior to Operations1, he worked in aviation project management with great enthusiasm for aerospace. Rafael studied industrial engineering (Bachelor of Engineering) and also worked in risk management worldwide. More at: www.operations1.com
Is the banking collapse playing into cryptocurrencies' hands?
The collapse and stumble of smaller and larger banks such as CS or Silicon Valley Bank dominated the financial markets in recent weeks. With memories of 2008 quickly awakening, investors quickly fled from bank stocks. Because many lose confidence in traditional banking institutions after such crashes, cryptocurrencies become more popular in turbulent times. Shanna Strauss-Frank, Switzerland spokesperson for the investment company Freedom Finance Europe, looks at what speaks for and against cryptocurrencies.
Editorial - April 18, 2023
Following the banking collapse, rising prices can be observed for cryptocurrencies. Will this trend continue? That's what Freedom Finance expert Shanna Strauss-Frank wonders. (Image: zVg / Freedom Finance)
Different countries, different banks - and the same end result. The crash of Silicon Valley Bank in the U.S. sucked several regional U.S. banks into the downward spiral and made investors around the world prick up their ears at even minor turmoil. Once considered stable and one of the most important financial institutions in Europe, Switzerland's Credit Suisse has lost confidence in recent years - the collapse of SVB finally sent it reeling. The prices of various bank stocks plummeted as a result. Some cryptocurrencies also recorded brief losses - even stablecoins like the USDC, which is otherwise considered relatively stable because it is supposed to reflect the value of a single U.S. dollar 1:1, fell to 92 cents. However, after just a few days, the majority of cryptocurrencies rose significantly again. Will digital currencies continue to gain momentum?
Crash causes share price to rise not only in the short term
"The recent collapse of several regional banks has raised fears about the stability of the financial system and led to negative reactions in the markets. In uncertain times, investors tend to take fewer risks, which often leads to a flight from risky assets such as cryptocurrencies," Strauss-Frank explains the initial price weakening. However, he says this is more likely to be a short-term reaction to what has happened, as the crash would reinforce distrust in banks in the longer term and move investors to alternative forms of investment, with a general interest in digital currencies being observed: "Since the beginning of the year, the Bitcoin price has been on an upward trend." Especially as measures taken by the Fed to combat a new financial crisis, such as increasing the size of its balance sheet, have eased liquidity concerns among some investors. "Also, because U.S. government bond yields are falling, investors looking for alternatives are now increasingly interested in riskier assets again, such as growth sector equities and also cryptocurrencies. All of these factors combined have created a favorable environment for risky assets, including bitcoin, for example," Strauss-Frank said.
All that glitters is not gold?
Despite a continued upward spiral, the banking collapse is unlikely to leave digital currencies unscathed. "Cryptocurrencies are dependent on a number of factors both inside and outside the cryptocurrency market," Strauss-Frank says, also hinting at the Fed's influence. Between the banking crisis and inflation, the Fed was recently faced with the difficult decision of pausing interest rates in favor of the tense sentiment in the banking sector or continuing its course with another rate hike in order to fight inflation - which in turn may also have an impact on investors' investment behavior. Strauss-Frank likewise points to the aspect that digital currencies often lack regulation and oversight, making it difficult for investors to properly assess the risks involved. "Especially since it is a question of one's risk type whether someone sees crypto as an investment in a risky asset class, or as a true alternative to the bank where one can invest one's money in a decentralized and potentially safer way - which is partly indicated by Bitcoin's recent price rise," she adds, but at the same time warns, "Regulatory factors in particular will play an important role in guiding the cryptocurrency market in the coming weeks and months. Such a factor to keep an eye on is the U.S. Securities and Exchanges Commission (SEC), which is actively cracking down on fraudulent Initial Coin Offerings and scrutinizing crypto exchanges. Any new regulation or enforcement action by the SEC could affect investor confidence and potentially lead to price volatility again."
Even stablecoins not stable
Because digital currencies are always subject to such fluctuations and remain in a higher risk category, some investors prefer the so-called stablecoins, as Strauss-Frank explains: "The idea behind stablecoins like USDC is that they offer the advantages of digital currencies, such as a fast and cheap transaction, but avoid the volatility that is, after all, typical of many other cryptos." While the recent "decoupling" due to banking sector turmoil was short-lived and relatively minor, it did raise doubts about stability and may have drawn wider implications. After all, if USDC had $3.3 billion in deposits with SVB that were frozen at the start of the bust, the domino effect occurred: after the coin value fell below one U.S. dollar, crypto exchanges Binance and Coinbase suspended the conversion of USDC into Binance USD (Binance's own stablecoin) and dollars, respectively. Investors simultaneously tried to limit their losses and exchanged their USDC for other stablecoins such as Tether, whose price shot up by ten percent as a result.
All-clear is in the air
If past events caused many investors invested in bank stocks to briefly panic, Strauss-Frank points out: "If you're a small investor with long-term goals in mind, the bankruptcy of SVB should be more of a short-term issue. The crisis seems to be limited to smaller banks and not a systematic problem. The financial sector and the market as a whole will likely be volatile in the near term, but there are no significant spillover effects on the banking system or the global economy." This is because both cryptocurrencies and the banking sector have been subjected to regular stress tests in recent years, some of which have been well managed, he said. "Accordingly, it is important not to forget to diversify the portfolio," Strauss-Frank emphasizes in conclusion.
Many breweries in Germany rely on gas to supply their production processes with heat. While most breweries are currently looking for alternatives and short-term solutions, the Private Weissbierbrauerei Schneider G. Schneider & Sohn GmbH in Munich/Kelheim already took a different path 15 years ago: To ensure a future-proof supply, the beer producer, which is also well-known in Switzerland, afforded itself a new energy center with a biomass heating plant.
For the past 15 years, the Schneider brewery has been able to supply its entire operating processes - including bottling, brewhouse (Fig.), and building and restaurant heating - independently with heat. Source: Gammel Engineering GmbH.
Until 2007, the Schneider brewery still obtained the heat it needed from oil - a finite and price-variable resource. To break away from this uncertain supply, the management looked for an alternative. "The simpler and much more convenient method would have been to switch to natural gas, which is technically less complicated," explains master brewer Josef Lechner in reference to the search for a new energy supply. "But even that would have made us more dependent again." By switching to a sustainable resource, such as wood chips, Schneider Weisse was the pioneer in the industry. A comparable approach had not been common there before.
Although the price of gas was very low at the time, which would have led to a quick, inexpensive standard solution, for Georg Schneider and his team the focus was not only on the price of energy: "We made a conscious decision in favor of sustainability and the long-term benefits it brings - and are convinced by the philosophy," says the brewery boss today. In the long term, the move should put the brewery on a carbon-neutral path. In contrast to gas, oil and coal, which in addition to their poor carbon footprint have to be transported to their destination at great expense, the renewable energy source now used by the brewery comes from the immediate neighborhood: the wood chips are produced by forest farmers near Kelheim. "So we leave the added value in the region. The social aspect is very important to us," emphasizes Lechner.
Controlled combustion produces process heat in the form of steam, which is fed to the various process stations on the brewery site via a special piping system. Source: Gammel Engineering GmbH
New energy center and biomass cogeneration plant
Throughout the planning and implementation phase, the brewery sought advice from engineers with extensive expertise in sustainable energy concepts. At the heart of the new concept is a modern energy center and a biomass heating plant for processing the wood chips. Controlled combustion generates process heat in the form of hot water at 160°C, which is fed to the various process stations on the brewery site via a special piping system. "Our wood heating system has enabled us to replace around 720,000 l of heating oil per year, which equates to a saving of 2,000 t of CO2 per year. Instead, about 2,600 t of wood chips from the region are utilized during the same period," says Dieter Lichtenberger, authorized signatory at Gammel Engineering, which was involved in the energy technology consulting.
Gammel Engineering is very familiar with the supervision and implementation of projects of this magnitude. Thus, in addition to the design and installation of the power plant, the engineers' tasks also included the connection of the refrigeration and CIP systems to the energy center. In doing so, the team attached great importance to the use of state-of-the-art materials and technology as well as to a maintenance-friendly implementation. Since then, the brewery has been able to supply almost 95% of its entire operating processes - including bottling, brewhouse, and building and restaurant heating - with heat from the renewable raw material forest wood.
Kelheim energy concept as a template for other beverage producers
The implementation of the project, which involved a technical investment volume of around 1.3 million euros, lasted from May 2007 to March 2008. In the process, the plant was able to pay for itself quickly thanks to the subsequent energy-efficient supply and savings in price-unstable resources. In addition, the strategic decision made 15 years ago has enabled Schneider Brewery to gain a number of advantages today: "We are virtually no longer subject to the global energy market. And not only when you think of the current gas and oil prices. But above all because we are not dependent on gas supplies," argues brewery boss Georg IV Schneider. The managing director is also thinking quite specifically about a possible gas bottleneck. Many of his competitors, most of whom are medium-sized companies, are threatened with loss of production without gas. An energy concept like the one implemented by Gammel Engineering in Kelheim could therefore serve as a model for other breweries and beverage producers. After all, an independent energy supply based on renewable energies ensures that value creation remains in the region.
We would make this switch to woodchip heating again today. Now it shows that the decision was right," says Schneider. Therefore, Michael Gammel, managing director of the energy engineering company of the same name, also recommends to other breweries that still burn natural gas: "Don't wait any longer, but follow your brewer president on the path to sustainable beer production to become independent of global energy price spirals." So in 2022, Schneider Brewery will have two reasons to celebrate: 150 years of brewing tradition and a successful and sustainable energy supply.
The 38th Zurich Logistics Colloquium, organized by Dr. Acél & Partner AG, will take place on May 2, 2023. Under the motto "Building the Future", some lighthouse projects will be presented.
Editorial - April 15, 2023
Dr. Acél & Partner AG invites you on Tuesday, May 22023The Zurich Logistics Colloquium is held in collaboration with ETH Zurich at 5:15 pm. Three experts from leading companies will provide insights into their projects and successes. Participants will hear first-hand about cleverly exploited potential, practical experience and success-relevant ideas and trends.
This year, the expert presentations will be held under the topical theme of "Building the Future":
Logistics center - new standards: Process and service orientation, trading, shape-follows-function, building planning in Zurich City, automation. Speaker: Dr. Jean Philippe Burkhalter, Head of Operations (COO), Member of the Executive Board Elektro-Material AG, Zurich.
Power supply: A logistical task? Security of supply, future power generation, consumption requirements, local and time availability, responsibilities. Speaker: Dr. Maurus Bachmann, Managing Director of the Smart Grid Switzerland Association, Nidau.
Stuttgart 21: A challenge for waste disposal logistics: Large DB project, construction site equipment and transportation, bulk swap bodies. Speaker: Dipl. ing. Wolf-Dieter Tigges, Head of Technology S-Bahn Frankfurt-Friedberg / Gateway-Gardens, DB Netz AG, Frankfurt a. Main
The three practical presentations sharpen the eye for the essential, broaden perspectives and surprise with an unconventional approach. Participants have the opportunity to seek conversations with the speakers, experts and guests during the presentations or the aperitif riche.
The most important in a nutshell
Date: Tuesday, May 2, 2022, 5:15 p.m.
Location: ETH Zurich Lecturers' Foyer, Rämistrasse 101, 8092 Zurich
The software company Abacus Research AG will acquire the HR software company Haufe-umantis AG, a subsidiary of the German Haufe Group SE, by mid-year. With this move, Abacus intends to significantly strengthen its position in the field of digital human resources solutions not only in Switzerland, but also in Germany and Austria in particular.
Editorial - April 14, 2023
The Abacus headquarters in Wittenbach near St.Gallen. The software company plans to acquire Umantis. (Image: Abacus Research AG)
Abacus Research AG, a leading provider of ERP products in Switzerland and market leader for payroll software, is expanding its payroll & HR portfolio in the areas of talent management and applicant management through the acquisition of the HR software company Haufe-umantis AG. This strengthens Abacus' position in Switzerland, Germany and Austria, enabling an even broader customer base as well as improved HR services.
Abacus Research AG has made various innovations in its HR applications since 2017 and has become an established provider of technological solutions in the field of human resources during this time. In 2022 alone, the number of subscriptions for employee self-services rose from 426,000 to 696,000 across Switzerland. The acquisition of Umantis will enable Abacus to expand its offering in various areas in the future and also reach new customers in Germany and Austria.
A preliminary agreement for the acquisition was signed by Abacus and Haufe-umantis AG at the beginning of April. The official purchase is scheduled for mid-year. "We are pleased to include Umantis, including its approximately 90 employees, in Abacus," said Daniel Senn, current COO and designated Chairman of the Board of Directors of Abacus Research AG. "Umantis has extensive experience and broad expertise in the HR field. We look forward to being able to offer even more comprehensive HR solutions in Switzerland as well as in Germany and Austria in the future. We will do this by combining previous Abacus products with the technological solutions developed by Umantis." Axel Singler, CEO of Haufe-umantis AG, also sees the acquisition as positive: "We are convinced that together with Abacus we will be able to develop joint solutions that will bring great added value for our clientele in many respects. This also represents an opportunity for our employees to work even more comprehensively for optimal and future-oriented HR solutions in the future.
Labor market: Broad language skills significantly increase job opportunities
Although there is a marginal decrease in job vacancies in Q1 2023 compared to Q4 2022 (-1%), the Swiss labor market remains resilient. The Adecco Group Swiss Job Market Index remains at historically high levels in the current quarter. Employees who have skills in various languages currently have very good opportunities on the labor market. This is shown by the scientifically based survey of the Adecco Group Swiss Job Market Index, the job market monitor Switzerland of the University of Zurich.
Editorial - April 13, 2023
More than a third of job advertisements mention two or more languages, with employees with knowledge of two languages being particularly in demand. (Graphic: Adecco Group)
The Swiss labor market starts 2023 with a slight decrease in the number of job vacancies. Thus, the Adecco Group Swiss Job Market Index stagnates at a still historically high level. Compared to Q4 2022, Q1 2023 records 1% fewer advertised job ads. However, compared to the same quarter last year (1Q2022), the Job Index increased by 4%. "The mild winter played a critical role in creating a potential energy crisis and accompanying economic slump to prevent. As a result, demand for labor remained stable overall. This can also be seen in the unemployment figures, which remain at a very low level as of February 2023," explains Yanik Kipfer of Job Market Monitor Switzerland.
Special focus: Language skills in the Swiss labor market
Switzerland is known for its cultural diversity, which is particularly evident in the four national languages German, French, Italian and Romansh. Linguistic diversity points to the importance of language skills as a decisive competitive advantage in the Swiss labor market. This is especially true at a time when companies are increasingly operating globally and communication with customers and business parties from different countries is growing. But which languages are actually in demand among employers and how relevant is the simultaneous mastery of several languages? For this purpose, the Job Market Monitor of the University of Zurich examined job advertisements with regard to language requirements. Specifically, the languages implicitly or explicitly mentioned in the job advertisements were analyzed. Thus, an advertisement was classified as "mentions the language German" if it is written in German (implicit mention of the language) or if statements such as "knowledge of German desired" appear in the advertisement (explicit mention of the language).
An analysis of demand by national language shows that the vast majority of job advertisements posted in Switzerland mention knowledge of German (87%), followed by French (23%) and Italian (4%). In addition, knowledge of Swiss German is mentioned in around 1% of job advertisements, compared to less than 1% for Romance language skills. The distribution of demand by national language thus largely corresponds to the linguistic composition of Switzerland. According to the Swiss Federal Statistical Office, 62% of the Swiss population spoke German as their main language in 2021, followed by French (22.8%), Italian (7.9%) and Romansh (0.5%).
With regard to foreign languages, English (32%) is the second most frequently mentioned language after German. The demand for English skills thus exceeds the demand for the national languages French, Italian and Romansh. Only a small proportion of job ads published in the last nine years mentioned knowledge of other foreign languages (~1%), with Portuguese and Spanish being the most frequently mentioned languages. Overall, it can be observed that more than one-third of the advertisements mention two or more languages, with employees with skills in two languages being particularly sought after. Frequently mentioned language combinations were German and English or German and French.
Broad language skills are in demand - German in first place. (Graphic: Adecco Group)
Regional Differences: The Linguistic Röstigraben
An analysis of the demand for languages in the various major regions shows that German language skills are in demand in the vast majority of job advertisements in the major German-speaking regions: Eastern Switzerland (99%), Zurich (95%), Central Switzerland (94%), Northwestern Switzerland (93%) and Espace Mittelland (90%). Nevertheless, in Southwestern Switzerland (37%), more than one-third of job ads sought applicants with knowledge of German.
French skills are particularly important in southwestern Switzerland (73%). In contrast to knowledge of German in southwestern Switzerland, knowledge of French plays a lesser role in the major German-speaking regions, with the exception of the Espace Mittelland (32%), which includes both French- and German-speaking cantons. Job advertisements that mention French language skills never account for more than one-sixth of all advertisements in the individual major German-speaking regions of Switzerland.
English skills are primarily important in large regions with international business centers, such as Zurich (42%), Southwestern Switzerland (42%), Northwestern Switzerland (34%), and Central Switzerland (30%). In these regions, companies and organizations are often focused on global markets and have international business partners.
Knowledge of Italian tends to play a minor role compared to the other languages. Even in southwestern Switzerland, which includes the canton of Ticino, only 7% of all advertisements sought knowledge of Italian. In the remaining major regions, the demand for Italian language skills represents only a marginal share.
Specialists office and administration: language talents wanted!
The demand for languages also varies according to occupational group and language region. In general, it can be said that regional main languages (e.g. German in the German-speaking part of Switzerland) are particularly relevant for manual professions and professions in service and sales. These occupational groups are often in direct contact with their clientele and predominantly serve regional markets.
A more detailed analysis of the data also reveals differentiated differences in the regional composition of demand. For example, across all occupational groups, proficiency in German is more in demand in Latin Switzerland than in French in German-speaking Switzerland. It is striking that almost half of all job advertisements in Latin Switzerland for the occupational groups technical specialists (49%) and office and administration specialists (48%) require knowledge of German. In comparison, the occupational group with the highest demand for knowledge of French in German-speaking Switzerland - office and administration specialists (30%) - shows that knowledge of the other national language is of greater importance in Latin Switzerland than in German-speaking Switzerland. This can be attributed in particular to the linguistic diversity of Latin Switzerland, which includes French- and Italian-speaking cantons as well as German- and French-speaking cantons such as Valais and Fribourg.
In Latin Switzerland, somewhat more value is generally placed on English skills than in German-speaking Switzerland. In both language regions, managers in particular are expected to have a good command of English. Surprisingly, managers are also the occupational group for which knowledge of the respective regional national languages is demanded the least. Overall, it can be said that English skills play an important role in both language regions, especially for university professions and office/administrative professions. In the case of Italian language skills, it is also apparent that occupational groups from southwestern Switzerland have a higher demand than those from German-speaking Switzerland. In both language regions, however, Italian skills are predominantly mentioned in job ads for office and administrative professionals.
In general, it can be observed that knowledge of several languages is particularly important for office and administration professionals. The reason for this is presumably that the clientele served by these professionals, in contrast to the clientele of manual and sales occupations, often transcend language and national borders.
Woodman Asset Management AG: Changes in Management and BoD
Woodman Asset Management AG (Woodman) has announced the appointment of Stefano Veri as a member of the Board of Directors and Istarel Brucker as a member of the Executive Committee.
Editorial - April 12, 2023
Istarel Brucker (left) and Stefano Veri hold new leadership positions at Woodman Asset Management. (Pictures: zVg)
Stefano Veri joins the Board of Directors of Woodman Asset Management AG, based in Zug, and Istarel Brucker (General Counsel) becomes a member of the Executive Committee. Woodman Asset Management AG is an independent investment boutique that provides family offices and qualified private investors with access to core, niche and sustainable investment strategies in public and private markets. Woodman's investment capabilities are said to be based on the extensive expertise of its in-house investment professionals and a hand-picked network of partners in which Woodman holds strategic investments.
New Board member Stefano Veri comes from UBS, where he recently retired. Stefano Veri was one of the Group's top executives there for 40 years. He was appointed Group Managing Director in 2014 and has actively led and shaped the transformation of UBS Wealth Management in Switzerland and abroad as a member of several key executive committees. He has an extensive knowledge and understanding of international capital markets and the global wealth management industry. Patrick Ferrari, CEO of Woodman Asset Management AG, commented, "We are delighted to welcome Stefano to our Board of Directors. Stefano will help lead our company's inorganic growth strategy in the next phase of its development. His extensive experience in senior positions at a major international financial institution, most recently as Global Head of External Asset Managers at UBS, will allow Woodman to benefit from his unique expertise and experience."
Istarel Brucker, in turn, was promoted to member of the Executive Committee, where she holds the position of General Counsel. She joined Woodman in 2020 as legal counsel and assumed responsibility for all legal and compliance matters in March 2021. Prior to joining Woodman, Istarel Brucker worked as an attorney in the Legal, Compliance and Regulatory practice at EY, where she advised finance and insurance companies on banking and financial markets law. Prior to that, she gained experience at a Zurich law firm and as a lawyer in the legal department of Julius Baer. "We are confident that Istarel's tireless dedication will enhance Woodman's development and ensure our continued success. Istarel's deep understanding of the legal and compliance function will ensure that she continues to be a strategic partner and resource for our various businesses," CEO Patrick Ferarri said of the hire.