In this week's Industrial Talk Podcast we're talking about the virtual event of the year- Fluke Reliability’s Xcelerate20! Home to 3 powerful iconic brands – Pruftechnik, eMaint, Fluke Connect and Accelix. (that right-the guys with the black and yellow tools are FAR more than just hardware!) Join forward-thinking maintenance & reliability pros as they gather, learn, get inspired and become resilient. On air we are speaking Suzane Greeman, President and Principal Asset Management Advisor at Greeman Asset Management Solutions about "What does a resilient career look like". Below is a quick summary of Suzane's Xcelerate20. You can find out more about Suzane by the links below.

What would it take to have a profession or career that outlasts roles and transcends companies and industries? Can you experience professional fulfillment, while maintaining relevance to your stakeholders?

Many professionals would love to do so but are unsure of how to get this and how to sustain it. Yet, the making of a resilient, timeless professional that can mitigate risks associated with relying on a single company or role, needs to be holistically planned. Sounds obvious, but what does holistic planning of one’s career involve? It requires partnership with one’s self.

In this 50-minute speech, asset management strategist and author, Suzane Greeman will invite participants to journey through some lessons that she learned at the “University of Hard Knocks”. She will share some important elements of a timeless career and key steps that she has used to partner with herself to develop true resilience in professional life.

Finally, get your exclusive free access to the Industrial Academy and a series on “Why You Need To Podcast” for Greater Success in 2020. All links designed for keeping you current in this rapidly changing Industrial Market. Learn! Grow! Enjoy!

SUZANE'S CONTACT INFORMATION:

Personal LinkedIn: https://www.linkedin.com/in/suzane-greeman-asset-mgmt-exec/

Company LinkedIn: https://www.linkedin.com/company/greeman-asset-management-solutions/

Company Website: https://greemanassetmanagement.com/

Company Facebook: https://www.facebook.com/GAMSINCASSETS

Instagram: https://www.instagram.com/gamsinc_assets/

Twitter: https://twitter.com/gamsinc_assets/

SIGNUP FOR FLUKE RELIABILITY'S XCELERATE20, RIGHT HERE RIGHT NOT - YOU WILL NOT BE DISSAPPOINTED!

[caption id="attachment_6977" align="alignnone" width="754"] Xcelerate20[/caption]

PODCAST VIDEO:

https://youtu.be/1CM8ePdzME4

PODCAST TRANSCRIPT:

SUMMARY KEYWORDS

people, asset management, risks, talking, Suzane, assets, collaborate, organization, listeners, career, work, Reliability, resilience, opportunities, reached, company, resilient, business, Xcelerate20, certification

SPEAKERS

Scott MacKenzie, Suzane Greeman

00:03

Welcome to the industrial talk podcast with Scott MacKenzie. Scott is a passionate industry professional dedicated to transferring cutting edge industry focused innovations and trends while highlighting the men and women who keep the world moving. So put on your hard hat, grab your work boots, and let's go Hey

Scott MacKenzie 00:21

there, welcome to the industrial talk, podcast, absolute honor, once again, that you have joined this platform, this industrial talk platform that features in it does features the women and men of industry, the women of men of manufacturing companies that get it done, they are bold, they're brave, they dare greatly. They're changing the world through innovation. They constantly think that's what they constantly do. They never stop. And they never stop saying, How can we help people? That's, that's the biggest part. They're making my life better. And I guarantee you they're making your life better. Even if you don't notice it. They're making your life better. All right, who's in the hot seat? That's right, her name is Suzane Greemen. That's gr e ma n. She's got a lot of pep out there. She's exciting to

Suzane Greeman 05:03

Oh, my goodness, Scott, thank you so much for having me. I I'm still laughing from our last one. And that was fun, wasn't it years ago.

Scott MacKenzie 05:14

If you can tell in her voice, she's passionate about what she does. And she's she's infectious, in a good way not infectious, like a COVID way.

Suzane Greeman 05:23

Thank you.

Scott MacKenzie 05:25

Why would I use infectious in this world that we live in pandemic? No, she's not COVID. She's a good infection. Yeah. Whatever that looks like.

Suzane Greeman 05:36

All right, but I'm really excited to be here. And thanks for having me again. And thanks for working with us to get Xcelerate20 2020.

Scott MacKenzie 05:47

That's an exciting event is virtual, and they're, they're a Fluke. reliabilities doing a lot to make that event really spectacular. And you to make that happen. You're one of the keynotes.

Suzane Greeman 05:59

Yeah. And as I'm quite pleased that and, you know, when Donna reached out and asked me if I duet she got on the phone, actually. And I thought, well, first of all, I can't say no to dawn. I can't say no to flute. But it was such an interesting prospect, because then I asked her, What was the theme that she was working with? And she mentioned that resilience? And so I thought, Okay, how about, if I were to talk about building a timeless career, you know, and a timeless career is about resilience in your professional life. But that comes from something that was so partnership,

Scott MacKenzie 06:38

self partnership, but before, because that's, that's great stuff. And let me just sort of what got you to this point, give us a little background on who Suzane is, by the way, she spells her name, Su z, A and E. So don't go out there and say, Scott, I can't find her. Just spell her first name wrong.

Suzane Greeman 06:57

Oh, oh, my goodness, I didn't even think about that as a possibility. But yes, oh, yeah,

Scott MacKenzie 07:03

I do. Because I'm a paid professional. Make sure that you get the biggest bang for you know, this, no, this is all fun. So give us a little background there, Suzane, real quick.

Suzane Greeman 07:14

So I myself, I'm an engineer by by discipline. And I've also gone through and done like my MBA, because I wanted to learn about all aspects of of my professional life. So I mentor the business side of it as well. And I've done quite a bit of other asset management certification. So my line of work is asset management. I have a company and that company delivers asset management, consulting, education, and really advisory services coaching for our clients. That's that's what we do. So it's along the lines of asset management. So just before I'm gonna interrupt real quick define asset management, what do you mean by that? So what we're looking at with asset management is how we manage our assets to deliver value to our stakeholders. And it really comes down to that if you start from the perspective of value, then you work your way back to assets that you're supposed to have, then that dictates how you manage the assets that you have, how you look at asset turns, when are you supposed to be changing over assets, because you want to be sure that you're not miss miss? Well, spending money in appropriately put it that way, especially, especially now, nicely,

Scott MacKenzie 08:32

better have those hot guys going and making sure that you're spending the right money at the right time with the right asset, start talking about assets, we're talking about a pop about that thing that is important to either your manufacturing, whatever your base that we're talking about,

Suzane Greeman 08:48

right? So we're talking about, you know, your quiet, right, all of those types of equipment, but you're also talking about infrastructure that you walk on infrastructure that delivers your water takes away your sewage, you know, we're also talking about data, we're talking about your it network, we're talking at some point, even about your human assets, we're talking about intellectual property. So it could be like a wide variety of assets that that companies are, are looking at. So the most important thing is if you start from a perspective of value, then every single transaction every every, we call them investment decision that you're trying to make, whether it's big or small, you always examine the question of value and whether that is of best value to the organization and to its its stakeholders.

Scott MacKenzie 09:37

It's so interesting that you bring that up and when we start talking about asset management, some people have put on their financial hats and and I think it is a perspective of value art and I'll look at it I'll try to simplify because I am not. And I repeat you listeners out there. I'm not as smart as Suzane. So I always have to simplify down to the real so

Suzane Greeman 10:00

You you've been well question to remember that every time you say something funny remember how much I my capability to laugh is tremendous. So just remember that.

Scott MacKenzie 10:10

That's why I'm doing it. Definitely. So I look at it this way two things, is it? Is it something that's going to make me money? or save me money, right? And I can throw in safety and I can do all of that other stuff. But really, when we start talking about what has taken place within this pandemic world is this next normal, whatever we want to call it. I'm laser being focused on how do I retain the right talent? Right? How do I manage my risks, or build a wall around and get rid of that risk? Save money, make money, right, and to create a business that has some level of resiliency? And that's all you're talking about? quite frank, right? And you're not saying it from? You know, I mean, everybody, everything's an asset.

Suzane Greeman 10:55

Yes, everything's an asset. And, and I'm glad that you broke it down. Because in my books, that actually comes down to two things that comes down to what level of performance you're trying to get out of out of your assets, which aligns with whether it's a part of values, not all of that. And then the other part is, what risks are you trying to mitigate. And I like to leave cost them finances out of it to the end, because cost and so on, can't be directly controlled. So ever, all costs are related in a business, such as an asset dependent business costs are related to either trying to deliver performance or trying to mitigate risks. Where I think we misstep a lot in organizations is that we don't take a wide enough approach to risks. And it's one of the lessons that's coming out of COVID. So in asset management, you know, I look at risk in a three dimensional way. First of all, there is things we call them external threats. You You can I want to say you can do something about it, but you didn't create it. The company didn't create it, they didn't create it. How about

Scott MacKenzie 12:07

how about an example of that as being COVID-19?

Suzane Greeman 12:11

Exactly.

Scott MacKenzie 12:12

Nobody had in their business continuity plan, that there was a global pandemic, and everything, everything would shut down.

Suzane Greeman 12:18

Exactly, there is COVID-19, which we can see. However, there are other things like your regulators, they're things related to laws change, and those things that you can't do anything about climate change, you didn't create any of those things your assets been created, but yet, your assets and the organization itself have to build resilience against them. And then we have the second dimension risks, no, that are created by the organization. So this has to do with lines of defense of the organization not being in place, missing systems, missing procedures. Yeah, incorrect application of talent, incorrect ways of doing things. So those kinds of risks are created by the organization. And they're not specific to any type of assets. And they can only be fixed by looking at systems processes and culture. So that's the risk created by the organization. And then number three are the risks now that are created by the assets themselves. Usually, those risks relate to relate to risks of failure. Now, if you think about making money and saving money, then risks managing risks properly, have to do more with with saving money, there's a way to capitalize on risks, we call that opportunities, which would allow you to make money, but for the most part, when we talk about risks, we're talking about how we preserve value, and hence how we preserve capital within the business. The reality of some of this, if we look at things like safety and the environment, too likely, then we miss out on two very important liabilities, that that that we could run into later that could become financial liabilities. As a matter of fact, there is a lumber company, I think, that in January, did not have its operating license renewed and it was closed down somewhere here in Canada. So so you have to always be considering all the aspects of risks in that multi multi dimensional manner. So that so so that you know, what the asset is supposed to respond to. So if it's climate change, what should we be doing to the assets know, to make it more resilient to increase flooding and increased risks of fire? What should we be doing to the to the assets to protect it? To build the resilience of the business, because in asset dependent companies, we deliver value through the assets.

Scott MacKenzie 15:08

Alright, listeners are three components right here, risk management resilience. I've taken that one. Yes, right. Number one, let's talk a little bit about those external risks, things that you can't cover, but you got to be aware of those are that's number one, external risks, the risks that are generated by your organization, that means your failures from systems, processes and cultures, you got to work on that most definitely. And then, of course, the risks of the assets. And the failures of that all of them actually tied up with the risk management of resilience.

Suzane Greeman 15:43

Correct? And when when you think about it, you know, they have a saying that everything that runs, runs from the inside out, yeah. So why. So what it means is that within the organization, you have two dimensions of the risks that need to be managed very carefully. Yeah. And so we're very good at seeing like the risk of failure, but we're not very good at seeing like the organizational risks, because that is about who we are as a people, how we work together, how we what systems we have in place, how we fortify the three lines of defense for the organization, the external threats are those know that you didn't create them, they asked us to create them, the companies didn't create them, but yet you must respond to it. Otherwise, you will go under, and they could be anything. So usually, if you're looking at that and use a you know, standard business tool, such as your your pestle or opportunities and threat, you look at your political and legal technological look at what's happening now with the onslaught of industry 4.0. Like, like, companies are just now caught, like, like, there's an headlight like, okay, I hear you're I know, IoT is here, but what do I do?

Scott MacKenzie 17:10

pre, you know, pre, on Monday, pre, pre COVID-19, everything was like two to five years out, come Tuesday, when COVID-19 decided that it wanted to flip the switch. Now, all of a sudden, everyone's like, I need a digital digital journey. I need a digital solution. I need a digital, something that helps me see what's going on. And you're absolutely and so, you know, you brought up a good point. First off, there's a couple of things, rich, with content here, folks, is we always talk about it always gets down to people, doesn't it? Yes, all of this stuff is fine and dandy. You can physically you know, you got your assets you got got the it gets down to the people and how the people react to all of those particular risks. Now, with that said, right, with that said COVID was, yeah, there's a there's a challenge on one side, and everybody's feeling it, that's without a doubt heard it, definitely. But the positive side, is the fact that people are truly focused on what is important. Now all of a sudden, when we start talking about asset management, it comes from the perspective of true, I want to know, and I want to have insights, and I want to be able to execute with a sense of purpose and focus. Right. And it's sort of it's an interesting mental transition. No, I don't want to hang out by that water. The watering hole, I want to come over here and talk about solutions. And it's been it's been really good. With that said, and we talked about the resiliency, you know, and what does that mean? Right? Tell us, you know, your your, your want to talk about a resilient career, what does that look like?

Suzane Greeman 18:54

You know, it's really interesting to think about resilience, because when I spoke with dawn, and she, she kind of talked about, like, coming out, coming out of this and, like, kind of like a phoenix coming out of out of the ashes.

Scott MacKenzie 19:11

good analogy. Oh, I like the word picture. Yeah.

Suzane Greeman 19:15

So so when you when you think about this, how can you have a career that is timeless, it's not dependent on a particular company. It's not dependent on an industry? How can you develop that kind of career? So it's, it's, it's a multiplicity of things. It's complex, but I like the graphic that you put up. So I'm gonna just use some elements from that. And I won't go deep into everything because that is the focus of my, my keynote speech that I'm really looking...