Financial sector particularly sensitive to cybercrime

While cybersecurity is a universal concern across Australia, the finance industry is keeping a particularly careful eye on the online world of crime.

According to a recent PricewaterhouseCooper (PWC) report, insurance professionals collectively named cyberattacks as the number one threat to business  performance. This concern has advanced 13 places since the 2013 list, revealing how much of an impact recent events have had on this sector in particular.

The reason for such high concern is due to the sensitive data that insurers have access to. Databases contain highly personal information from customers, which include medical records, identity data and bank account numbers. 

PwC Australia's insurance leader Scott Fergusson highlighted the effect of changes in technology, which have lead to a number of challenges as well as opportunities. 

"The impact of wearable devices and connected cars will be significant – once consumers get a level of comfort around sharing data with insurers, the expectations of more personalised and customised products and premiums will quickly follow," he said.

Education, such as IT security training will be vital to protecting the financial industry as a whole in the future. According to David Whiteing, CIO at the Commonwealth Bank, there is a global shortage of skilled cybersecurity experts, as quoted in an August 27 ABC article. 

Many professionals in this industry fear that cybercriminals will outpace their ability to fight back. However, Whiteing stated that this is already the case in Australia. 

"What people need to realise is that the cyber space is highly specialised, it's highly collaborative, and it's highly unregulated – all conditions which allow cybercriminals to move very very rapidly," he said.

With the threat of cybercrime becoming more apparent, professionals in the finance industry may find they need to upskill though information security training courses. Cybercrime is becoming more sophisticated by the day and complacency is no longer an option. 

Is it time to review your need for business IT analysis?

Managers worldwide are realising just how important business process analysis is to their company. However, many firms do not have the skills in their workforce to fully benefit from this practice.

According to a survey by McKinsey and Company, the strategic value of IT has not been lost on business leaders when it comes to process improvement. In fact, one of the most common priorities is the use of IT to make processes more efficient, with 61 per cent of executives naming this as a key focus. Cost effectiveness was also important to executives, as 48 per cent aimed to use technology to achieve this purpose. 

74 per cent of companies can't find the links between process indicators.

Despite the good intentions of managers, there may be major shortcomings in their current systems.

In a more recent survey conducted by consulting company BearingPoint, 61 per cent of companies did not track process-specific KPIs. A further 74 per cent were unable to form links between individual indicators to get a clear picture of overall performance. 

If a company is unable to get specific and useful feedback from their systems, it can be very hard to action marked improvements. Even though three-quarters of participants feel that business process management is important to their business, without the right skills, you'll be unable to achieved the desired changes to your systems.

What makes a great process analyst?

While an analytical brain, a sharp eye for detail and the ability to process large amounts of information are all key to the role, social skills also play an important part. 

Analysts must be able to communicate their findings in a way that is understandable to everyone in the business. They also need to build strong relationships based on trust and respect, as they may have to suggest a contradictory strategic turn that goes against the common opinion. This could include a company-wide adoption of a new system or the introduction of an alternative delivery channel.

Business Process Analyst need to relate well to others in their firm.

Business process analysts need to relate well to others in their firm.

On top of all this, business analysts must be adaptable to change and able to grow, according to Craig Pitts, lead global information security architect for Mondelez International.

"What was relevant and critical five years ago isn't always critical today, even if it's still relevant," he said in an August 25 CIO article.

"If technology can make that easier, then you should leverage that."

Alongside IT project management training, offering your workers a chance to pursue business analyst courses is a very wise move. Having a knowledgeable analyst on your team can open up new possibilities for your company that would have otherwise gone unnoticed. 

A business guide to the IT management portfolio

In today's technology driven world, there is no time for business leaders to lag behind on IT. But how can you stay afloat amongst the confusing terms, changing tides and constantly emerging innovations?  

85 per cent of CEOs struggle to understand the strategic implications of IT.

There's no question that IT has become a huge part of an overall business strategy. According to a recent Reinvent Data Centers survey, 93 per cent of CEOs worldwide believe that technology is more important to them than it was five years ago.

However, the majority of the leaders surveyed seem to be missing the mark when applying innovations to their processes as 85 per cent of CEOs struggle to understand the strategic implications of IT.

To help you better understand the benefits of having a strong IT management portfolio in your business, we've broken down the four main components. Each part offers its own unique capabilities, although there are some overlaps.

Enterprise Architecture

In the simplest terms, this is all about defining your business capabilities. Enterprise architects look at the people, processes and materials in an organisation to find where value can be derived for the end customer. For example, we teach the SABSA method to help people build a strong security framework across the entire company.

In this step, the focus on on the overall strategy of the business and enterprise architects must logically assess each of the above factors in a firm to highlight where the potential changes can be made.

PRINCE2

This is where points that are highlighted for change see implementation through project planning. PRINCE2 is the most widely used and trusted management and government framework worldwide. When used effectively, it allows managers to deliver projects within an acceptable risk profile and in accordance to quality standards.

Formal PRINCE2 training is often required to fully grasp the full potential of this software, but the pay-off can be great for those who do choose to take the time and money to train their managers. PRINCE2 can be applied to projects of any size, with a focus on the decisions that managers need to make to see them through to completion.

PRINCE2 is one of the most reliable project governance systems in the world. PRINCE2 is one of the most reliable project governance systems in the world.

AgilePM

Another key project management software is Agile. While there is a lot of overlap with this software and PRINCE2, the two complement each other rather than compete. In fact, a recent certificate course has been added specifically for PRINCE2 users to expand their skills in an Agile-oriented way that combines both programs in one system.

AgilePM uses the Dynamic Systems Development Method (DSDM) to deliver projects in a volatile business environment. This system ensures that goals are consistently met on time and on budget, across external and internal shifts. Just like PRINCE2, taking courses in AgilePM is an important part of overall IT project management training and is a worthy investment for any company.

Business Analysis

Similar to an Enterprise Architect in scope, business analysts looks at the requirements of a business project. They focus on the current state of the business and what needs to be done to reach the future desired state. Rather than keeping the end customer in mind, business analysts in IT need to consider the entire value-chain and each individual process within the chain.

Business Analysts also play an important role in implementing business processes. These are often designed on a project-to-project basis and incorporate both IT and non-IT elements.

With all four of these aspects laid out, it is easier to see where your project management systems may be failing. If this is the case, training is always available to you or your managers to help reach better project outcomes.  

Analysis pinpoints the most hyped technology trends

Ever imagined how to measure the exact popularly of an oft-spoken trend? With the release of Gartner's "Hype Cycle" report for 2015, it is now clear to see which technologies are setting the highest expectations in the global market.

Keeping a keen eye on these trends is vital in order to stay competitive.

The Hype Cycle goes through five stages of development; the Innovation Trigger, the Peak of Inflated Expectations, The Trough of Disillusionment, the Slope of Enlightenment and finally the Plateau of Productivity. While these terms somewhat sound like levels in a poorly designed video game, they nevertheless offer insight into what technologies the world is currently buzzing about.

For business leaders, now may be a good time to brush up on IT project management training. Keeping a keen eye on these trends is vital in order to stay competitive according to Gartner Vice President Betsy Burton explained.

"As enterprises continue the journey to becoming digital businesses, identifying and employing the right technologies at the right time will be critical," she said. 

Here are some of the current technologies holding the prime position atop the peak of the hype cycle.

Speech-to-speech translations

As guessed from the title, this software allows for users to decipher foreign languages without the years of training needed for fluent communication. Skype passed a milestone of its translation services back in April, offering Mandarin and Italian speech-to-speech options, bringing the total to four languages.

The communication possibilities this software brings are pretty exciting, as language barriers start to lower – although it is more likely to slide into the Disillusionment trough sooner than the next technology. 

Automated vehicles

Despite some security concerns, automated cars are very close to hitting peak excitement. While Gartner believes they still have a while to go until they reach the productive plateau, they will be landing on Australian shores by late 2015. Volvo and the ARRB Group will be jointly running tests during the Driverless Vehicle Conference in South Australia. This further research is expected to breathe new life into this region, following previous manufacturing setbacks, according to ARRB group. 

While there are still numerous tests for the automated car to go through, this is a big step towards a driverless future for Australian roads.  

The Internet of Things (IoT)

This area has seen a lot of discussion over 2015 and multiple groups in Australia have come together to develop a national strategy to presented to the government. Communications Alliance, the representative group for the communications industry, have been in discussions with representatives from companies such as IBM, Alcatel Lucent, Intel, and Creator Tech since May.

The aim of the strategy is to prepare policy recommendations, explore economic opportunities and map the current IoT ecosystem in Australia. The final report is set to be released by October at the latest, which shows how relevant this aspect of technology is to the wider community. 

Businesses certainly have a lot to look forward to in the coming months. Staying on the pulse of these developments remains key as they move closer to widespread adoption. 

Empowering women in technology: How far have we come?

The struggles of women in the IT industry is one of the most hotly discussed topics worldwide and the fire isn't dying down anytime soon. While we've come a long way from the male-dominated offices seen a few decades ago, there is still work that needs to be done to help more women reach the boardroom.

Companies still lacking a gender balance

Recently, Apple made a public statement regarding the diversity of their recruitment, shining a light on a broader trend within the technology sector. While they had made improvements in increasing the proportion of women and racial minorities in their workforce, they are still rather far away from reaching a fair balance.

In 2014, only 26 per cent of computing roles in the United States were held by women, down from 36 per cent in 1991.

Apple's current workforce consists of 65 per cent male and 35 per cent female workers. However, the company has increased the rate of new female hires by 36 per cent and the overall proportion of women has increased by  one percent from last year. 

Other tech companies worldwide are also failing to hit the mark. In 2014, only 26 per cent of computing roles in the United States were held by women, down from 36 per cent in 1991, according to the National Centre for Women in Technology (NCWIT). For women of colour, the numbers only get more depressing as black and latina women only consist of 3 per cent and 1 per cent of IT workers respectively. 

Companies that don't make an effort to include women amongst their numbers are missing out on a number of benefits. As stated by the NCWIT, having more diversity increases the capacity for innovation, lowers the cost of attrition and "brain drain", boosts productivity and lends to better problem solving due to a wider range of views and outlooks.

Australia leading the charge for females

While international figures paint a somewhat bleak picture of women in technology, local results suggest Australia is bucking this trend.

Recent research conducted by Robert Half revealed that 65 per cent of Australian IT businesses have increased the number of female workers employed, the highest out of the eight nations surveyed. Even France, the immediate nation ranked below Australia, have some catching up to do, as only 42 per cent of French firms have increased the number of women they've hired.

Part of the reason for the rise is the application of IT in other sectors such as food, retail and sport. Women have the opportunity to enter the IT job market by combining industry experience with formal learning , such as ITIL training.

Is increasing hiring enough?

The continual empowering of women in the IT industry is a complex issue that doesn't end at hiring ratios and even if women are getting roles, they still face struggles to get the top roles.

According to Division Manager of Technology at Robert Half Bansrii Shah, direct actions and initiatives need to be put in place to encourage the participation of young women in the industry.

"To continue growing the representation of women in IT roles, particularly in leadership positions, we need to foster this interest at schools and universities so that they develop the skills and passion for the sector at an early age," she said.

Women are still facing barriers when it come to securing IT leadership roles.Women are still facing barriers when it come to securing IT leadership roles.

There is still a disappointing number of women in leadership roles, with only 9 per cent of IT management roles held by females, according to the Centre for American Progress. Support through mentor programmes often makes a significant difference, as role models can help groom the traits emerging leaders will need to advance their career's. 

As they old saying goes; knowledge is power, and management courses such as IT project management training may be a good way for women to gain an edge and rise to the top echelons of IT companies.  

Cybercriminals extend their reach: What can be done to stop them?

While we often associate cyber crime with hacking databases and causing computer-based havoc, a recent case with Australian Catholic University has shown the scope of the damage cyber criminals can cause.

The Australian Catholic University has revealed the sensitive personal information of staff members has been stolen in a cyber attack, in the second significant security breach revealed in a month to have occurred at one of the country’s tertiary institutions.

“In a very small number of cases, staff login credentials were obtained successfully via the phishing email and were used to access the email accounts, calendars and bank account details of affected staff members,” acting vice-chancellor Stephen Weller wrote.

The attack comes just weeks after a huge data breach at the Australian National University in which 19 years’ worth of staff and student personal data were stolen in a “sophisticated” cyber attack.

 

Cyber Security Triad

Cyber Security Triad

How can Australia protect itself?

Australia is set to face an onslaught of cyber crime over the next few years and this recent case solidifies the importance of keeping information secure. 

In response to the Australian Government’s cyber security review, Cisco recently presented their own report on how they believe this issue should be addressed. The organisation stressed the importance of building a partnership between the government and public/private entities. 

Through the creation of a national cyber security strategy, Cisco believes that cyber security threats can be minimised. The framework needs to include; a crack-down on the emergence and infection rates of malware, education and accountability practices for CEO and board members and reducing disruption of essential services. All Australians should be given the confidence to use the internet without becoming victims to cyber attacks.

By building a strong digital platform, Australia can build trust with other nations.
By building a strong digital platform, Australia can build trust with a global network.

With these measures, Australia can become a global leader in cyber security and build trust with overseas organisations that use our digital infrastructure. However, by not taking preventative measures, cyber crime will continue to be a huge financial burden on the economy. The Cyber Security Review, led by the Department of the Prime Minister and Cabinet, found that cyber crime is costing the Australian economy up to $1 billion annually in direct costs alone. 

In 2018, Australians lost over AU$1 billion to cyber crime and 46 per cent of citizen were affected to some degree, according to the Department of Communications. Businesses leaders may need to undergo information security training to keep up with current threats and learn how to put in place measures to fight back.

Related Information Security Training:

 

Can IT solutions secure continued growth for e-commerce?

Its no secret that IT can be useful for a myriad of unique functions and in a million different ways. However, a particularly exciting area for IT at the moment is the e-commerce market.

According to ATKearney's Global Retail e-commerce index, Australia is the 10th most desirable market in the world, scoring highly in consumer behaviour and infrastructure. Compared to other markets in the top 10, the local market has strong growth potential, although it is being outpaced by countries such as Belgium, Russia and China.

Australian eCommerce market is currently an attractive place to operate.  Australia's e-commerce market is currently an attractive place to operate.

The latter had the highest growth potential score in the index and with their innovative outlook, it's not hard to see why. Recently, digital marketers in China have been the leaders in embracing e-commerce, according to research from Forrester. One-third of businesses surveyed stated they are currently collaborating with e-commerce professionals, taking direct responsibility for the execution of online strategies.

This is a great example of how IT strategies can give other departments a boost. Australian business leaders could gain a lot from better managing their IT portfolio, possibly through PRINCE2 training. Having a better understanding of the current and potential applications of IT could lead to some innovative new ventures and collaborations. 

 Will the e-commerce boom last?

While the current e-commerce environment is looking rather attractive, there are uncertainties around whether the good times will last. ATKearney projected the industry will continue to grow, but at a slower rate than previous years. In 2016, for example, the global e-commerce growth rate is expected to fall from 18 per cent to 16 per cent, hitting a total value of US$1,155 billion. 

In 2016, the global e-commerce growth rate is expected to fall from 18 per cent to 16 per cent.

​PricewaterhouseCoopers (PwC) had a more cynical view, expressing their belief that fickle consumer habits made it hard to nail down the exact contributions online sales made to overall revenue. Customers tend to jump between online and offline platforms, as e-commerce fails to fit their specific needs in some situations. 

To ensure future growth for sales, both organisations stress the importance of traditional bricks-and-mortar stores. Interlinking offline stores more tightly with online channels ensures that consumers remained engaged with the brand. ATKearney stated that successful companies ensure all customer touch points add value to the sales process and IT project management training may be the key to developing creative new solutions. 

PwC also stressed that digital technologies needed to be integrated with physical outlets to better cater to and delight customers. Offering a more personalised experience is more likely to see customers coming back again. 

3 trends shaping the current IT management climate

In the past couple of months, IT management has seen a lot of changes and a number of key issues and developments have brought this particular area to the global stage.

To keep you up to date on all the recent goings-on, here's a list of three notable trends that show the scope of this exciting sector of IT. 

1. Companies are held back by outdated software

Even with a number of new developments, there are still ongoing issues for many IT service managers. In fact, a recent survey from Unisys Corporation revealed 74 per cent faced challenges in providing the IT support and resources needed for successful business functions. Over half the people surveyed felt they were held back by outdated or inefficient systems. 

Companies often wasted precious time answering basic questions from end users and dealing with disjointed silos of information. In order to keep pace with the global market, Vice President for Edge Services at Unisys Paul Gleeson expressed the need for a focus on service co-ordination and streamlining. 

"IT organisations that give their support personnel innovative tools for consistently providing services that integrate delivery channels – from online portals to on-site concierge services – will be the big winners in the evolving digital economy," he said. 

Considering that the predicted annual growth rate for this market is sitting at 6.8 per cent per year heading into 2018, now is the perfect time to up-skill in this area. Gaining an ITIL certification may be a good place to build on your knowledge and become a driver of software upgrades within your company. 

2. IT service management propels public development

The scope of IT service management benefits continues to grow as Dubai Electricity and Water Authority (DEWA) shared their knowledge of best practice with the public sector. Through the utilisation of innovative ISM processes, the organisation has been able to brief the local police department in methodologies needed to provide the highest standards in IT service delivery.

Collaborating with the government can be a good venture for firms, as it leads to prestige and an improved reputation for companies who do so. In the wake of the Australian government's 2015 cybersecurity review, offering expertise in the form of report has become a common way for companies to contribute. Cisco is a good example of a company who has offered its expertise and insight for the greater good of the country's cybersecurity.

3. Survey shows increasing risk awareness among CEOs 

Heads of large firms are starting to take governance practices more seriously. Gartner Research surveyed over 1,000 business leaders and found that IT risk management data influences decision making for 71 per cent of participants. The common trend seems to be that these issues are now considered important to the entire business rather than the IT department specifically, as Gartner Vice President of Research Tom Scholtz explained.

Only 30 per cent of CEOs receive sponsorship for IT security initiatives.

"The primary reasons for establishing this reporting line outside of IT are to improve separation between execution and oversight, to increase the corporate profile of the information security function and to break the mind set among employees and stakeholders that "security is an IT problem," he said. 

"A senior executive mandate for the security program is fundamental. Without it, the security program has little chance of getting the requisite support from the rest of the organisation."

A further 63 per cent said that they received support from senior IT professionals outside the company, a 9 per cent increase from the previous year's report. However, only 30 per cent of CEOs receive sponsorship for IT security initiatives. For board members who want to play a bigger part in their company's IT strategy, IT governance training may be useful in order to understand how to implement risk assessment, compliance and security plans.

Well-being for all workers becoming a central focus

As leaders and nurturers of their staff, managers have an ethical duty to provide the best working environment they can to foster well-being. Those who make an effort to promote positive change often find that their workers and the wider community will repay them in kind.

Organisations that put in place "health codes of conduct" were more likely to see higher rates of employee engagement.

For example, the employee well-being platform Limeade recently announced the winners of the 2015 Limelight awards, highlighting organisations that have turned employee wellness into a business strategy.

The awards focussed on fresh innovation, engagement and cultural integration as key factors in stand-out organisations that promote social enterprise and well-being. 

Innovative and creative measures will often see improved performance as a result. For example, recent research conducted by Cornell University found organisations that put in place "health codes of conduct" saw higher rates of commitment to health than other workplace wellness programmes. Participants surveyed found that ease of implementation was a key factor in the success of the initiative. 

As Lead Author Rebecca Robbins explained, a worker can choose to opt into the scheme from the commencement of their employment. If they choose to take part, they will be rewarded for maintaining their personal health and wellness with incentives such as recognition programmes and have their progress mapped out for them. 

The programme offers morale boosts as well as better employee health as explained by Brian Wansink, co-author of the study.

"Offering recognition is a great way to show employees that their health and wellbeing are valued by the company," he said.

What part can technology play in workplace well-being?

IT managers can help lead the way towards innovative solutions that ensure workplaces are supporting employees, with disabled staff members representing just one area where IT is supporting well-being. In the past, businesses have often struggled to fully accommodate disabled workers due to constraints around infrastructure and available technology. However, the tide is turning according to Gartner, as the organisation predicted that 50 per cent of companies in the US will have technology programmes underway in 2015 that focus on supporting this group. 

Opportunities for disabled workforce could rise as more companies initiate programmes to support them.Opportunities for disabled workforce could rise as more companies initiate programmes to support them.

The organisation called upon IT leaders to collaborate with Human Resource departments to identify where technology can be applied for the benefit of disabled workers. Solutions that ensure employees are able to fully participate in the workplace can be deceptively simple, although IT project management training may be needed to take on more ambitious projects. 

A new kind of spy: Cyberespionage in Australia

In an environment where businesses and government organisations alike deal with highly sensitive information, cyberespionage has become a critical threat to Australia. 

In 2013, the Australian Signals Directorate reported 940 cyberincidents involving government agencies, representing a 37 per cent increase from 2012. Due to these figures, a review into Australia's cybersecurity was ordered in November last year by the Prime Minister. This was published recently by the Australian Cyber Security Centre (ACSC) and gave some insight into cybersecurity risks in Australia, particularly cyberespionage. 

Compromises to online information can have huge economic consequences.

Cyberespionage is defined by the ACSC as "offensive activity designed to covertly collect information from a user's computer network for intelligence purposes". According to the ACSC's threat report, our country is a prime target for online menaces due to our wealth of resources, field expertise in manufacturing, technology and scientific research, and our relationships with other countries, including a influential role in the Indo-Pacific region.

As stated in the report, compromises to online information can have huge economic consequences. Cyberespionage is seeing an increase in many countries as this method offers high returns for little cost and risk to the perpetrator. Even if all other systems in a database are firmly protected, one weak link in the system can compromise valuable information.

The government has offered strategies that can stop at least 85 per cent of cyberattacks, including the use of application whitelisting, restricting access, and patching applications and operating systems. However, further information security training may be required to stop more sophisticated threats.

As more sophisticated cyber espionage groups emerge, business and government organisations alike are at risk.As more sophisticated cyberespionage groups emerge, business and government organisations alike are at risk.

Cyberespionage is gaining traction, with Symantec revealing its findings on the Black Vine group in a July whitepaper.

The cyberespionage group, active since 2012, was believed to be behind the February attack on Anthem Health Insurance that led to the exposure of over 80 million patient records. Black Vine may also be responsible for various attacks on the energy, aerospace, and healthcare industries, and use custom-developed malware that is constantly updated to avoid detection. 

Black Vine stands out as it is a well-funded and organised body, with links to many other actors in the cyberattack network. While most attacks are focused on IP addresses in the United States, there are risks they could move to more areas globally. 

Armed with increasing awareness of threats, Australia is in a better position to address issues of cyberespionage. However, both government and business professionals need to keep on top of changes and growing threats, possibly through ongoing information security training courses.

Are we in for a mobile data revolution?

The possibilities for mobile data are already cause for great excitement and recent findings may see this feeling hit a new peak.

Gartner has predicted that mobile data traffic will increase exponentially in the next three years, reaching a staggering 173 million terabytes during 2018. In 2015 alone, 52 million terabytes is set to be produced, a 59 per cent increase on the mobile data traffic from the previous year. 

Mobile data traffic will increase exponentially in the next three years.

While a lot of this increase will come from new users of mobile data, Jessica Ekholm, research director at Gartner, also highlighted there will be growth from existing users updating their networks.

"New, fast mobile data connections (3G and 4G) will grow more slowly, from 3.8 billion in 2015 to 5.1 billion in 2018, as users switch from slower 2G connections and consume more mobile data," she said.

The Gartner report also revealed how exactly data is being used in different parts of the world. Polls conducted in the USA and Germany last year showed that while 43 per cent of American users felt unrestricted by their data caps, only 20 per cent of Germans felt the same.

Because of this, the majority of those surveyed (56 per cent) wait until they are in a free Wi-Fi area to download large files and stream video. By comparison, only 36 per cent of Americans felt the same way.

These differences are unsurprising considering that 34 per cent of German users still get a measly 500 megabyte cap per month. In the UK, poor Wi-Fi creates a reverse situation. According to a poll conducted by Global Wireless Solutions, 40 per cent of Britons use data in their home, with 17 per cent saying they are forced to due to slow home connections. 

In order to capitalise on growing mobile trends, communication service providers worldwide need to develop new methods to extend its capabilities in data provision. IT project management training may be necessary to undertake these development schemes. 

As mobile data usage grows, communication service providers must provide better  plans for their customers.As mobile data usage grows, communication service providers must provide better plans for their customers.

While some companies may be falling behind the trend, others have embraced coming changes. Hans Vestberg, CEO of Ericsson, provided Fortune magazine with some surprising affirmations for the future in a July 20 article. He predicted that by 2020, 3G and 4G networks will be the main networks used worldwide. The reason Vestberg gave for this bold prediction was the decreasing prices of smartphones around the world.  

"As device makers launch more inexpensive smartphones they'll proliferate around the globe," he said.

"For every $10 you reduce the price of the smartphone, 100 million more people will buy them." 

How does technology affect work-life balance?

While work-life balance is a much-discussed topic in the world of HR, new findings have given us a more valuable insight into the role technology plays.

With technology simplifying how and where we can access communications, a survey by CareerBuilder found at half of workers check their email outside of working hours. More worrying is the fact that 24 per cent of workers do so while engaged in activities with family and friends.

The key difference between generations was the element of choice vs. obligation.

This isn’t just a millennial-driven trend either. While 52 per cent of workers in the 18-24 year-old bracket admitted to checking emails outside of work, those aged 55 and up were not far behind, with 46 per cent keeping the electronic lines open outside the traditional nine to five.

The key difference between generations was the element of choice vs. obligation. While the vast majority of the older set in the survey (70 per cent) felt it was their choice to engage with email outside of working hours, a much lower percentage of 18-24 year olds felt the same (56 per cent). When you compare these results to the overall average of 62 per cent throughout the survey, there is a clear generational gap where the youngest workers feel obliged to stay in contact with work while at home.

In many cases, access to technology can impede on the quality of life outside the office. In the “Work-Life Imbalance Report” complied by Workfront, 57 per cent of those surveyed believed that technology had “ruined the modern family dinner”. Millennials may be the most guilty of this as 52 per cent of the 18-34 year-olds believed that leaving dinner to answer an urgent email was acceptable.

Feeling obliged to keep in touch with work at home can impede on your most precious relationships.Feeling obliged to keep in touch with work at home can impede on your most precious relationships.

While technology certainly can affect work-life balance in a negative way, Laura Anscombe, writing for Executives Online, believes that there are great gains technology can bring when it comes to flexible working. In a May 6 blog, she highlighted that technology allows for remote working and more flexibility in the day. Rosemary Haefner, chief human resources officer of CareerBuilder, agrees with this sentiment.

“Workers want more flexibility in their schedules, and with improvements in technology that enable employees to check in at any time, from anywhere, it makes sense to allow employees to work outside the traditional nine-to-five schedule,” she said.

The key to managing technology usage outside of work is control. Feeling obligated to check emails when engaged with valuable social time is not a sustainable or healthy behaviour. IT governance training may help business leaders manage IT usage amongst their employees so they may eventually gain ownership of their working and personal life.