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The five components of companies that are making a success of the pandemic

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A new book, ‘From Incremental to Exponential’ looks at what it takes to drive exponential change in an enterprise. The authors identify five common components that, they say, make up the DNA of organisations that thrive through change. These are: 

Speed – operating faster.  This means relocating capital and human resources nimbly to adapt to the changing business environment. 

Invention and innovation (not the same things incidentally). Continuing to do what you used to do is not sensible if your customers can’t access your products/services. New ideas and developments of existing ones can make all the difference.

Bravery.  It’s not just about making decisions faster, the decisions themselves need to be bolder, braver and, at times, further outside the box than you would normally consider. 

Use data to drive decisions. The authors say that high-performing organisations are three-times more likely to say that data and analytics initiatives contribute at least 20 percent to EBIT. Even if it’s just something as simple as understanding what is happening on your website, it can make a huge difference.

Follow the customer. This is my favourite. It’s why we are the only agency of our type who are members of the Institute of Customer Service. In construction recruitment things always change (think Contech for a start). The likely change of our city centres from offices to homes will demand a response from property and construction firms and we are ready to meet it.  Speed, invention, bravery, data - none matters a jot if you don’t focus on providing great customer service. Studies show that companies that sustain a comprehensive focus on the customer (in addition to operational improvements) can reap economic gains ranging from 20 to 50 percent of the cost base. 

Finally, I think it’s important to note that although this book looks at large companies, the lessons are just as important for any size of business. Peace Recruitment is undoubtedly an SME, not a vast conglomerate, but since March we have learned to shift fast, shape our structure to cope with the new normal and, as we have always done, deliver the quality of customer service that makes a real difference and will see us out the other side of these strange times.

Chris Peace, MD, Peace Recruitment

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