21st Century Version of the Roaring 20s.
There is huge pent-up demand for fun, variety, socialising and travelling which will have a massive positive impact on all the consumer facing sectors – particularly Hospitality & Leisure and Retail.
As we ‘build back better’ and aim for a more balanced approach to life and work, most envisage a blended week – 2-3 days in the office and the rest at home. And after months of home schooling and dodgy broadband, the office seems like a haven to some – an oasis of calm and intellectual stimulation that has been lacking from our somewhat solitary working existence. Not to mention missing out on office gossip! It was never the office that was the problem – it was the commute.
So much has been written recently about the acceleration of business change ‘we did in 3 months, what we planned to do in 3 yrs’ etc., but what about the impact on future strategy?
Any evolved, forward-thinking board will have rebooted its strategic roadmap over the last few months and the question we now ask is “Do you have the right structure in place to deliver this new strategy?” Clarity’s mantra is Strategy, Structure, People and we are increasingly working ‘upstream’ with CEOs and CPOs to help define what the organisation looks like that can capture and exploit the many opportunities that a welcome return to growth will bring. We will need to engage with consumers differently and recognise that the way they live, work and interact with brands has changed forever. And those that don’t adapt will die.
If businesses are to capitalise on the tsunami of consumption coming our way in H2 and beyond, they need to start planning now. Having created a structure which is fit for purpose, a rigorous talent review should take place, recognising that many of the skills required are not yet in place.
If there is a silver lining to this pandemic, it is the opportunity and permission to think and act differently and be bold in our ambitions for our companies, our culture and our people.