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12 tips to a successful upturn

Are your suppliers still the best choice for your company - we are hopefully seeing the green shoots of new growth but have arguably been through the worst global recession since the 1930’s. With the recession looking like it’s on the ebb, are you taking all the measures you need to address the risks that may have crept up unseen over the last few months?

Operational efficiency
Critical system failure – as organizations have cut back on maintenance budgets in this economic crisis. Maintenance strategies have been pared back and in many cases ‘run to failure’ has become a norm, often by default. Do you really understand the impact of ‘run to failure’? What impact is lack of investment having on your business now and to be well positioned for the upturn?

Business continuity and disaster recovery plans – now is the time to revisit these. Most plans were compiled in the good times when every department was at full strength. Make sure all staff trained for the key roles in your plan are still with the company!

Are your suppliers still the best choice for your company - we are hopefully seeing the green shoots of new growth but have arguably been through the worst global recession since the 1930’s.

Green shoots of new growth
Companies have faced record levels of insolvency and the chances are you are left with what survived. Also, the needs of your company have probably changed under the pressure. Time to check your suppliers to see if they are still fit for purpose.
Energy efficiency
Energy cost increases - before the crisis, oil prices rose above $150/barrel. At the height of the crisis they fell below $30/barrel. As we move out of recession it is inevitable that energy prices will move towards the high end of the range. As we enter the next annual budget cycle, what assumptions are you making on energy prices?

Energy supply disruption – during recession investment is at an all time low and energy plants are mothballed. Already the energy demand in many countries is exceeding supply at peak periods and power outages are avoided only by transferring power between countries. As we move out of recession, expect more power interruptions. Are you prepared?

Carbon taxation – many countries have already put in place plans to phase-in carbon taxation in some form. With every penny counting in your company - are you budgeting correctly for carbon taxes?

R22 refrigerant – what is that, you ask? R22 is a refrigerant used in many cooling systems. It has been phased out over recent years and in coming months will become illegal in many countries. Do you still have any R22?

People productivity
Employee stress – Now business is picking up again, are your staff working longer hours to cover for lost colleagues?
Longer hours inevitably lead to more mistakes. A leading indicator of more mistakes is more accidents in the workplace. Do you measure your accident rate? Is it increasing?
Employee stress
Security – Crime always rises in a recession. With the jobless total at its highest for many years, expect to be more vulnerable to vandalism, petty theft and even sophisticated fraud.

Data protection – we live in the age of the mobile worker. Many employees work from home and use company laptops. There are frequent news stories of laptops or discs containing sensitive information being lost or stolen. These are still times of uncertainty for many employees. Some of these workers will be tempted to backup key data at home in order to improve their prospects of gaining future employment with competitors. What processes do you have in place to protect data?

Employee fraud – perhaps less of a worry as we come out of the recession, but many people are still ‘feeling the pinch’ of salary freezes and reductions, overtime cutbacks and no more annual bonuses. The temptation for employees to supplement their income from other illicit means may be overwhelming. Are your processes robust?

Loss of key capabilities – most organizations have cut back on staff – either through redundancy or ‘natural wastage’. With every employee that leaves, intrinsic knowledge is lost. Often the loss of key knowledge is not recognized until the knowledge is needed. Now is the time to have a knowledge audit and make sure you know where the gaps are so you can be ready to take advantage of the coming upturn.
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