THE PAST
Due to current economic reasons the global
trade & commerce vertical is probably the most volatile environment to seek
stability! The world was barely
surviving in a recessive mode, but the pandemic pushed that entire eco-system
into survival mode.
During the Covid isolation
period, companies realized that they do NOT require huge impressive office
spaces, so they liquidated most of their moveable (quickly depreciating) assets
& invested in movable assets that were more secure such as laptops,
tablets, & phones, & handed them out to their own people to work
remotely from home.
Post-Covid the realization hit everyone &
confirmed that this method of remote work did provide a healthy reduction in
everyone’s cost of goods sold. The office
spaces were left empty only with essential departments such as. HR, Legal,
Accounting & Finance, along with, maybe two or three conference rooms for
essential face-to- face meetings such as contract signings. Basically, the
addresses were and are held onto for cosmetic & legal purposes only to solidify
authenticity.
Even the owners,
stake holders along with the core Key Decision Makers adopted the same
lifestyle as the world is in survival mode so all they needed to do was
optimize efficiency!
In business, there is not emotion so decisions were based upon force-majeure and life just went on even today!
THE PRESENT
Written above is how the corporate word reacted
to the situation before them out of dire-straits. Due to all what happened, globally the
work-force culture also responded back to these changes in the following ways
subliminally creating a different work culture that nobody could do anything
about since everyone was working remotely and not just a few people.
The following predominant
behavior trends within the entire global workforce that are obvious such as; (but
not limited to)
A new culture of highly skilled technocrats
that are basically frustrated youth fueled by the frustrations of cabin-fever emerged
as a virtual force not to be reckoned with. Society labelled them as Digital Nomads.
14 to 18 months post-Pandemic
the business world had an affirmation that such a culture would work smoothly
and be less painful than the old norms they were used to. The entire global business infrastructure was
tweaked and adapted to support these Digital Nomads.
The first steps were taken by countries that
also served the purpose of a paradise destination for such people who had a
positive cash-flow & could add an aggregate revenue stream into the country’s
own GDP. Thailand was the leader in this
work-force cultural evolution as it ensured safety, visa-&-immigration
policy revisions to cater to the emerging culture of digital nomads that is now
widely a norm.
As these (mostly) Europeans & Western
think-tanks relocated to Thailand, it increased not only the parallel income
and spend within the country, but made many young people realize that in the
APAC-ASEAN region that the local native people are aloof of the volatile other
economies in the west and MENA region as they do not rely on the US Dollar to
trade as they have many alternatives such as the Chinese Yuan, Japanese Yen,
Singaporean Dollar & last but not least the Russian Rubel. Basically, there was a control on COGS that made the organizations understand
real profit margins & calculate almost accurate yields from their investments
in this region.
& Then,
once this model worked, everyone followed starting with Spain & Greece and
then Portugal, even Turkey downplayed its high-ticket real estate investment
model (basically, where they sold citizenship) along with the others, migrated
to exploring medical- tourism and eventually started offering digital nomad opportunities.
The global financial
services for everyone became so efficient that alternative methods of currency
which were a taboo (such as crypto) became acceptable and now are a preferred method
of payment to all these highly skilled technical digital nomads globally – (In
reality everyone today prefers such a method in the workforce as these payments
are non- trackable & they do not impact upon your year end income-taxes.
Basically, what your government does not know cannot hurt you!)
AMY’NS 2024 GUIDE HOW TO OPTIMIZE
ORGANIZATION EFFICIENCY
Keeping everything above in mind, I have
presented my own synopsis of what I feel could work on a general basis. (The recipe is the same
for every business vertical, however, an in-depth analysis is required to
perfect the exact mix that will work for that specific organization, service or
product)
Organizations need to understand Human
Resources.
The world does not run-on technology as
technology has been created by Humans.
If you treat them like resources, you will NOT have loyalty.
For this, there needs to extreme care given
to the selection of your core HR department – the team that works for you should
be give the respect of internal partners & essential stake-holders &
empowered to control this varying workforce, because as other online options
presented themselves to jobseekers (remotely) anywhere on the planet, companies
could not keep up the illusion of the safety of a 401k & retirement at the
end of a career, as all those benefits are available now! (Like living &
enjoying life in the preset at a paradise location whilst you are in your
prime)
Human Resource
departments are so overwhelmed by the volume of applicants a day that they make
the mistake of replacing new people with ones that are unhappy because they
follow a ‘if it ain’t broke, don’t fix it!’ approach!
Companies need to re-invest in their
existing workforce because people today only work to get paid. That’s it! If you disrespect that need (not want) –
forget your own ego – when these people leave you – they walk away with all the
knowledge they have within their mind and all your essential information.
It is less emotionally taxing &
financially expensive to re-train and appreciate the lives of your existing work-force
rather than swapping people out all the time, losing productivity and at the
end of the day cash profits for the entire company.
Other than appreciating
internal knowledge and education for internal customers based upon the ethos of
empathy, companies need to understand that the pandemic not only created cabin
fever, but when people came out of it, they lacked empathy for others as they
were forced to survive on their own.
The most perfect work environment globally
is when your HR department organizes periodic quarterly physical gatherings for
people to network and share their thoughts. If companies added this model of Internal
Corporate Tourism to the mix, then employee attrition would
significantly decrease across the entire company.
Bottom line – ‘People’ run businesses & ‘People’
matter the most!
Contact me if you would like a specific
evaluation on how to increase your own company’s efficiency & increase your
ROI.
Stay Blessed & Good Luck! If you need any help, I would be honored to have a consultation with you formally!
(Plagiarism is the biggest "Sin" that one could do in the Academic & professional world! It is also an insult to everyone's intelligence!) - If you wish to use my original content - simply email me for permission - there is no financial cost - only a few boundaries to be respected!
(Do check out my LinkedIn
profile.! Please see my endorsements & professional
recommendations)
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For a direct professional consultation please contact me via e-mail - amyn@ghulamalis.com
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