Many have been working hard behind the scenes in preparation
Over the last few weeks, it has become increasingly clear that there is a divide between companies. There are who really have worked hard in planning and preparation for 2021 with either redefining of their value proposition or reimagining that strategies and services; creating often bold approaches in ensuring that they possess offers which will customers and target audiences. They have worked hard to really understand the lessons from the last few years and from this period of time and have changed accordingly.
There are also those who seem to have felt constantly under pressure and tried to simply hold on and survive. It is understandable as, especially for Independents, this has been a particularly painful and brutal period of time. Their strategies are often working from one quarter to another.
As we re-emerge, behaviours will have changed more than many expect. Diversity and inclusion is no longer just about people but also about action, offers and services. There is a desire once again for greater face to face informal contact, for collaboration, for compassion, for modern and open thinking. Greater partnerships too. Many want to see bolder thinking, not just acceptance of what went before.
Since EP launched Reinvention to work with both people and companies to reinvent themselves, we have seen a number of fascinating projects come into play. These include:
Companies that sought to change both their strategies and offers to be able to engage new markets and audiences. Many believe that this period has broken down traditional boundaries and has created a new playing field which allows for new models to flourish and this also provides opportunities.
Many have understood that their value propositions had become weak and there has a need to really find the core purpose of the company once again. This in turn has helped to re-engage employees and teams as 2021 also provides a new start, even for the most established.
We have approached by new entrepreneurs seeking to develop their business or establish themselves in the UK. There was some research this week which came out noting that 48% of all employees considered starting a new business. The barrier to doing so was a lack of understanding of how to do it and how to engage clients. This is where EP comes in.
It is no secret that many have worked on engineering new services and offers; to radically rethink how customers/clients can be engaged and supported. Behaviours will have changed but are these understood and what innovation is in place to really “wow” the customer.
Design will become increasingly important as all operations seek to provide spaces where people feel not just safe bit comfortable?
Sustainability has become recognised by all to now to be a core business pillar. No longer are words and policies good enough. It is about what actions are needed. How will this impact on both clients and customers?
There will be major expectations and changes in how employees expect and want to be engaged by companies. There is a desire for a greater return to strong core values which include at the heart trust, informal face to face communications, collaboration, time to reflect. Again many have been working on their strategies in these areas.
In the same way, many understand that the move to diversity and inclusivity is not just about people but also about culture and hospitality offers.
There is real hope building that 2021 will see a real shift in behaviours and actions, for bolder and stronger thinking to really re-energise business.