30 ID Trends NAILBA
Business Trends
Ensuring the show goes on
Lessons learned from 2020
While it appears the proverbial beast is back in its cage and businesses are breathing a sigh of relief , it ’ s impossible to predict what disruptors lurk around the corner .
Michelle Anderson is Marketing Director and L & C Department Head at Employee Pooling , LLC . With fifteen years ’ experience in the industry , she is dedicated to improving the quality and efficiency of business continuity while decreasing cost and operations risks .
“ The show must go on ” originated from the unpredictable circus world and was often said to encourage performers not to give up when things did not go according to plan . Simply put , the show must go on … barring the escape of some ferocious beast . This phrase rang true for most businesses in 2020 as COVID-19 became our escaped beast causing plenty of risk , anxiety , and loss to many companies whose business continuity suffered by having everyone and everything under one roof .
Diversification
As the dust begins to settle from a pandemic that rattled even the best business models in the industry , a critical takeaway can be applied to ensure a more resilient and efficient business infrastructure for whatever disruptor lies ahead : diversification . When we think of diversification , we go straight to financial investments . We diversify funds to diminish market risks and maximize returns . So why aren ’ t we diversifying our business models to do the same ?
Questions to consider
Are you ready ? During unpredictable times , what would hiring , training , or retaining skilled department specialists look like ? Business continuity disruptors do not have to be of catastrophic proportion like COVID , which smacked us in the face with unthinkable challenges like companies ’ doors closing due to government mandated lockdowns .
Can you scale to meet service standards depending on workflow ? Do you have security measures in place , additional equipment , and the right software to move employees remotely at a moment ’ s notice ? Consider structuring your company ’ s workflow or processes in a way that optimizes efficiencies and productivity between in-house and outside human capital ; this is called rightsourcing . A resilient business model can be built by diversifying critical administrative tasks to secure , experienced third-party companies that can strengthen your workforce , improve turnaround times , and even teach you a thing or two to enhance best practices .
Are you utilizing current staff members to the best of their abilities ? Or are they bogged down in the minutiae of essential administrative tasks ? Employers are continuously faced with staff members being stretched to the limit , taking leave of absence , or suddenly vacating their position . The solution is to expand your bandwidth to achieve operational resilience with a dedicated team of skilled professionals who can take on non-core tasks and core tasks as needed . Unloading non-core tasks can breathe new life into your current employees , allowing them to contribute more to sales growth and customer experience efforts .
Rightsourcing
An added benefit to rightsourcing is extended operating hours due to time differences ; for example , India is one-half a day ahead of US time zones which means tasks are completed before the start of our workday . Of course , there is also the financial gain from rightsourcing with salary savings alone reaching over 50 % in some instances .
Saving money is great but maintaining business continuity and service standards is essential . While it appears the proverbial beast is back in its cage and businesses are breathing a sigh of relief , it ’ s impossible to predict what disruptors lurk around the corner . Now is the time to look at rightsourcing to ensure the show will go on .