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Solving the Now and Shaping the New Normal
Yes. The crisis has hit. Could we, as individuals or businesses have done anything to avoid it? No. But how we respond to it is entirely up to us.
While there has been a level of settling recently (for now, at least), the first few weeks saw drastic changes daily to people’s working lives. Organisations made decisions to have entire workforces work from home, public despair was, and still is, two-fold – divided between the economy and health. Between the 13th and 29th of March, government restrictions were updated no less than five times – and businesses waited on bated breath as to how these would affect them, as once again, they could do nothing about what they were – but how they adapted was up to them.
Even before the pandemic, there was a growing emphasis on risk, and effective risk management. 12 months ago, how many organisations would have had ‘infectious disease’ as a high priority on risk management plans? Looking to a risk matrix, yes, consequence would have been potentially high, but likelihood? No way. This has brought on a surge of ‘adapting on the fly’ within organisations, impacted even further by the daily changes imposed by both the situation, and government response.
So, how does a service-oriented organisation adapt to the changing needs of the customer, brought on by multi-layered environmental pressures? Well, first, we take a deep breath.
Congratulations Kenny, our February Team Member of the Month!
Kenny received amazing feedback from tenants on his site during a recent Valentine's Day survey about what they love about their building.
Managing risk is paramount. A key part of the evaluation of outsourcing rests in the clear definition of risk, how it should be managed, and aligned to the organizations’ appetite of risk. This measures the effectiveness of partnering with outsourcing specialists. It will assist you in evaluation and measurement to get the best out of your outsourcing partners.
Recent research (Deloitte, 2020) shows that an outsourcing specialist’s customer value proposition should define how they aim to manage operational risk. This should be clearly articulated to best scope the organization’s requirements and expectations. A responsive risk framework will underpin this methodology and will satisfy all internal stakeholders. The infographic above shows why some organisations are likely to outsource, and trends indicate that outsourcing companies' management capabilities are increasing.