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CLA | A Fresh Look at Your Organization Can Turn Challenges Into Opportunities

Are you confident that you and your organization are heading towards lasting and positive change? The COVID-19 pandemic has rattled many organizations, but with the right approach, challenges can be turned into opportunities. A fresh look at strategic plans, people needs, and technology infrastructure can help ensure short- and long-term financial success.

Prioritize planning to drive success

After nearly 24 months of upheaval, it is understandable that many organizations haven’t had time to update their strategic plans.  Others might not have had a plan to begin with. A thorough analysis of people, processes, and systems can identify areas of strength and areas for improvement.  The first step in planning is to get a clear sense of where you are, your growth objectives, and how to meet them.

Start with a 360-degree view to assess talent and staffing needs, capital expenditures, and technology infrastructure.

If you’re already feeling stretched and don’t have the resources for a full organizational assessment, consider an outside consultant.  A consultant can not only diagnose issues, but also provide new approaches to address issues.

Staff up with the right person for each position

The “Great Attrition” (or “Resignation”) is here and isn’t expected to slow down any time soon.  Hiring has become more and more of a challenge for employers.

A people strategy should go hand-in-hand with your overall business strategy.  Acquiring new properties may require a larger leasing and marketing staff, while a hybrid work model requires better cybersecurity technology and practices.

You may want to consider outsourcing part of your workforce, particularly for jobs in in-demand fields like technology, accounting and finance.  While many business owners look at outsourcing primarily as a way to reduce costs, it can be much more, including a boost to efficiency and access to key insights.

  • Do you need new resources but only for a fixed amount of time?
  • Does your current team lack the essential skills, knowledge and expertise, but you’re currently trying to limit full-time hires?

“If companies make a concerted effort to better understand why employees are leaving and take meaningful action to retain them, the Great Attrition could become the Great Attraction. By seizing this unique moment, companies could gain an edge in the race to attract, develop, and retain the talent they need to create a thriving post-pandemic organization.”

“’Great Attrition’ or ‘Great Attraction’? The choice is yours.”  McKinsey & Company, McKinsey Quarterly, September 8, 2021

To retain current employees and engage new ones, all companies need to build an appealing culture.  Mission and values matter!

Do your employees feel appreciated?  Communicate to your employees that their hard work and diligence, especially in these trying times, is valued. Show that you are invested in your employees’ professional development.

Mastering the four pillars of culture – care, commitment, respect, and communication – goes a long way in attracting and retaining employees.

Update and streamline your technology infrastructure

Staying ahead of fast-changing technology can be difficult, but it is essential. Many organizations suffer with legacy systems that are slow, inefficient, and fragmented. Think of your technology as a competitive advantage. Efficient, cloud-based technology can make employees more productive, drive profitability, and provide better channels to communicate with clients and customers.

How you update your technology will depend on your unique needs. It doesn’t always have to be a major undertaking. For some companies, it may be as simple as converting QuickBooks desktop to a cloud-based version that can be integrated with other platforms. For other companies, it may require a substantial overhaul.

Automation can offer big rewards. For example, a single automation system can allow your organization to capture all project data, including budgets, time tracking, customer invoices and expenses, in one place. With this data, you can run efficiently and tally revenue on a real-time basis. Other systems can track a company’s full financial profile, which helps with everything from setting revenue targets to tax obligations.

Protecting that technology, including the software your employees are using to work from home, is critical. Hackers, or threat actors, are constantly on the move, using artificial intelligence and other tactics to hone their attacks. Antivirus software, employee education, strong passwords, a two-factor identification system, and regular system scans are just some of the techniques that are available to business owners.

How we can help

At CLA, we understand that you and your company are dealing with new business challenges every day. Our goal is to understand your business and growth objectives, then come alongside you to develop and execute on your strategic plan. Now is the perfect time to examine every aspect of your organization, to confirm that you have a strong plan in place, the right people in the right positions, and that your technology infrastructure is simultaneously adding value while also reducing risks and vulnerabilities.

A proactive approach is critical to your organization’s ability to thrive not just in the present, but in the years ahead. We can offer an integrated approach to bring about positive and lasting change for you and your organization.

Contacts:

  • Dan Wolf, Principal, CLA Minneapolis | 612-397-3205
  • Joey Desiderio, Search Advisor, CLA Sacramento (Roseville) | 916-724-0803

Compliments of CliftonLarsonAllen – a member of the EACCNY.