In a Time of Ongoing Change, The Need to Scale Up and Down Effectively
More change is on the horizon in 2021. It will be imperative to maintain core operating needs while enabling elasticity to adjust to ongoing uncertainty and volatility.
Our Operations Transformation practice continues to challenge norms and advise on creative ways to embrace unprecedented environmental, political, and economic unknowns. In so doing, we are constantly tasked with provocative assignments from clients that prove operational change is a short-term, long-term, and persistent challenge.
POTENTIAL CHANGES AFOOT IN ‘21
A New Administration
- Corporate and Personal Income Tax
- Possible Minimum Wage Increase
- Global Trade Policies
- Better or Worse?
- Tariffs
- Priorities & Incentives
- Infrastructure
- Healthcare
- COVID
- Education
- Regulations
- Labor
- Environment
- Healthcare
Vaccine Success and Distribution
- When Will It Be Over?
- Q3, Q4, 2022+
- Work-from-Home (WFH), Back to the Office
- Is WFH Pragmatic and Sustainable?
- Is a Unique Hybridized Operating Model More Appropriate?
- What Do Employees and New Hires Want?
- Is the Work/Office Environment Safe? How to Demonstrate it?
- Are There Additional Enhancements That Can Be Incorporated?
Economic Recovery
Stimulus – Round 2
- When: Will there be a Stimulus Bill Passed; Before or After Jan. 20th?
- Who: Will it Benefit Corporations, Retailers, Individuals, etc.?
- How Much: How far will it last? 3 months, 6 months (i.e. long enough?)
Timing of Recovery
- Visibility of Forecasting?
- Divide into Quarters
- Q1: Choppy, Q2: Cloudy, Q3: Clearing Up, Q4: Clear Sight
Core Operating Needs
Continuity
- Projecting A Sense of Stability and Calmness
- Retaining & Attracting Talent
- Ensuring Client Needs Are Prioritized
Innovation & Collaboration
- Fostering a Creative and Collaborative Environment & Mindset
- Using Technology to Surmount Physical (In-Person) Limitations
Cost Controls
- Outsourcing vs In-Sourcing
- Preparing for Protracted Economic Recovery
- Budgeting: Zero-Based
- Procurement Review
- Liability & Contract Review
- Consolidation / Right-Sizing
Infrastructure
- Increasing and Embracing Technological Adaptation
- Cloud Migration: Single vs Multi
- Physical Space Vs Virtual
- Asset Monetization
- Creating Flexibility in Demand
In conclusion, organizations need to plan with a different lens by taking into account the various factors that can/will impact their strategies, goals, and missions. We’ve learned from this pandemic, now it’s time to apply those newfound principles and concepts to operations transformation.