It’s all gone a bit quiet…
There we were with our apocalyptic thoughts after the Brexit vote on the morning of June 24th staring into the abyss of the unknown, yet the 4 horsemen have not arrived…as yet. We know that big changes are ahead as Article 50 will be enacted like a ticking timebomb of indecision. The underlying uncertainty building as the UK commences the years of change and transformation.
“Winter is coming...”
So, what do we do as HR Professionals and People Leaders? How do we prepare a business for upcoming turbulence in the market when we don’t know what it looks like and how disruptive it will be?
Politicians, think tanks, quangos, your CEO, they all have predictions based from gut feel to detailed modelling, but no-one really knows until the reality of Brexit finally materialises.
“Winter is coming...”
So let us take the lead and helping our business get fit and ready for the “Olympic-sized” effort ahead. What is it we can start doing now that will strengthen our business?
Well. let’s get back to basics. What makes a business survive when the one next to it fails?
Where does your business make its money?
What is it you provide by means of a product or service directly to the customer? Is this customer the end user? Or maybe another business entity? Either way your business exists because it has customers. It doesn’t matter how far removed from them you are within the organisation, your job relies on having customers. Without them, no-one is employed.
So, with the knowledge that turbulence is coming from possible hard economic transitions, retaining customers and attracting new customers is even more critical than usual. Potentially fewer customers spending less means there won’t be enough money to go around.
So how can we strategise for this?
Answer: Equip your business with the talent to retain your key customers and acquire new ones.
Customer retention protects your business. Finding and upskilling the right account management and customer service people for your business now with strengthen and maintain the bond with your customers as relationships are strained in tough economic times.
New customers will offset any spend per customer shrinkage. Having the right skills to attract new business to your organisation will create an “injection” of revenue in tough times.
What can I do to enable this?
A great way to start is to use IBM predictive assessments, designed specifically to identify Sales or Customer Service effectiveness. These can be used as a recruitment tool, but also equally as effective as a development tool. Once you know you have the right traits in your sales and customer service talent then you can move forward to ensure they understand your business and your products.
All this can take time so don’t delay, waiting to react to tougher times when they arrive. If you do, these “business growth” activities get swallowed up in the cost-cutting mindset of tough times.
Act now. Just like Olympic athletes, who start preparing 4 years before the day they need to perform, we need to prepare now to make our businesses resilient to the times ahead.
Contact me, or other members of Tap’d Solutions, to start equipping your business for success in tough times.