PATRICK EVANS SAT DOWN WITH ROMANA GIESEN, GROUP HEAD OF TAX AT SWISSCOM AG, ON HOW MULTINATIONALS CAN PUSH FOR PROGRESS WHEN IT COMES TO CORPORATE CULTURE AND DIVERSITY AND INCLUSION.

Romana joined Swisscom AG in 2013 to lead the Group Tax function; during this time, she has also held board positions with Swisscom Belgium and Swisscom Italia, as well as the role of CEO for Swisscom Telco GmbH. Romana has a proven track record in tax, legal and strategic consulting and corporate governance, with a successful history of conducting and driving strategic and cultural change, digital transformation & innovation. A passionate advocate of diversity and inclusion in the workplace, Romana holds a vital role within the Tax Executive Institute and the Women of IFA Network.

A leading telecommunications company requires innovation; at the same time, efficiency is also crucial to ensuring profitability. How do you help leaders achieve this balance? How does tax play a part in this process?

It’s critical to have a balanced focus and to evaluate projects (cost efficiency and innovation) from a short, mid and long-term perspective. Short-term efficiency might jeopardize long-term sustainable innovation. I support leaders by looking at and presenting the “complete picture”.

There are a few points in this process where tax can provide added value:

• Thinking outside of the box and accepting that there are more critical factors than tax when it comes to the ultimate success of a business
• Cost efficiency of the tax department (automation, transparent processes etc.)
• Ensuring tax is established as a good business partner who has apparent oversight of various projects, creating impact, cross savings with other projects, whilst also highlighting not only the tax effects but also the broader financial impacts
• One key element – communicating and educating all stakeholders on the positive impact the tax department can have.

How do you go about creating a culture that reinforces this?

It’s essential to constantly explain the “Why” to colleagues to ensure we fully engage in the changing environment, creating and supporting a culture that welcomes change. My team must ” own” the strategy; I try to achieve this by creating a culture of openness and placing ideas whilst celebrating with my team when we are successful.

What are your experiences of trying to change a team culture?

Many people do not naturally like to embrace change. As a function, we must welcome change, especially when such scenarios are forced upon us, e.g. due to cost pressure. I try to create an environment where the team continuously thinks ahead; it’s all about “change-taking ownership”. For instance, automation is a critical topic that can create fear and uncertainty. We as leaders must show that there are opportunities to develop as individuals and a function – rather than seeing some of these opportunities as threats.

I’ve also learned that bringing the team along on the journey is extremely important. Prior reflection has helped me realise that I’ve often moved too fast, which may have had a detrimental impact on team spirit. I am clearly explaining the “why”, identifying change champions that support other team members through such periods, and constantly listening to concerns is vital to navigating the hurdles ahead. If we can accomplish this, team spirit will build, and collaboration amongst colleagues will increase, which will lead to creating a positive, supportive culture.

Looking at emerging technologies making an impact, what challenges do you envisage for the tax function?

Certainly, the turnaround time for the telecommunication and IT industry is getting shorter; constant change is the paradigm for these sectors. The way the business is rendered and the geographic location, selling and purchasing online without any supply in the “real world” is the “new normal”. The expectation is that everything needs to be available immediately, not only in our private life but also in business. To stay ahead of this trend and be successful, tax functions must be very agile and up-to-date to support the business effectively.

Tax & IT don’t always speak the same language; similarly, when it comes to focusing and KPIs, the business and the tax function aren’t always on the same page. A strong and early liaison between both parties is critical for success. To develop an efficient strategy on how taxes must be reflected in a completely new business context, i.e., business location versus tax impact, etc., it’s vital to have the business on board and establish a strong partnership from the outset. Since the tax industry is highly regulated, the company is not always aware of certain constraints, which can create challenges as we seek to achieve a healthy balance while effectively supporting our internal stakeholders. As we look to the future, it will be vital for us to identify holistic solutions, something that can only be successfully achieved together.

You are vital in developing the Swiss Women of IFA Network (WIN) – can you share an insight into the organisation?

The WIN initiative was launched in 2013 at the international level of IFA by Jeanne Goulet to represent and connect the large number of women working in the field of international tax. The initial network began small, but Jeanne identified a clear need; since then, WIN has grown rapidly, supported by the introduction of country organisations; in 2019, WIN became an official committee of the IFA.

The IFA strives to (i) build an international network of women working in the field of international tax law and (ii) increase the participation of women in the role of speakers or on panels and, consequently, their visibility within the profession.

The Swiss WIN was launched in 2016 by 5 Swiss tax lawyers. Local fiscal and social issues events are regularly organized in German and French-speaking Switzerland (see www.linkedin.com/groups/8607912/).

I’m proud to have been part of this journey, building a solid and sustainable network and creating visibility for our members, which are my critical priorities. My focus is not solely on the experienced seniors but also on young female tax advisors, supporting them through mentoring programmes and exchange opportunities within the network. Covid has presented us with some challenges, given we’ve lost the all-important face-to-face contact; however, having now navigated this period, I’m confident we’ve created a trustful, constructive space for businesswomen in taxes.

How do you view the current gender diversity position across the Swiss market? By achieving an improved gender balance across all levels of a tax function, how can this positively influence team culture and, ultimately, organisational performance?

Within the tax and broader finance profession, I’ve observed a level of improvement concerning gender balance over the past five years. However, whilst total numbers have been improving when considering grades, this is not yet satisfying. More focus on bringing gender in balance at a company’s “higher floors” is needed. Societally, gender balance is the basis for sustainable performance (or even survival); this also applies to corporations.