Operational resilience is one of the roadmap points for 2023 for many leaders across the world. To prepare organisations for upcoming challenges and continuously create value, we partner with them to build operational resilience by simply focusing on several key areas. It’s an effective and timeless framework that’s built around 4 pillars:
1. Performance management system
This includes regularly forecasting demand, allocating resources, and tracking key performance indicators. To streamline operations, it’s important to have clear benchmarks in place. And eliminate any unnecessary tasks, of course.
2. Organisation, people, and skills
Have the right people in the right position with the right skills in place. Increase spans, decrease layers. It improves your organisational agility. Apart from that, having clearly defined roles and responsibilities, along with sustaining skill development, will help you build a winning team to combat any challenges that may arise.
3. Processes, best practices, and continuous improvement
Have a working system in place to reduce waste or become more efficient by implementing lean approaches to problem-solving. Clear playbooks, sets standards and prepares you for potential scenarios. Also, choosing to centralise or decentralise certain processes helps you to respond more efficiently to changing needs.
4. Technology and systems
Automating processes and tasks where possible, while creating a single and central data point for all of your operations.
Despite the choppy waters ahead, we’ve heard many leaders say they feel they’re entering one of the most exciting phases of their careers. Why? Because resilient companies (by far) outperform industry peers. In the previous downturn, this was as much as 25%.
