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As Australia’s economy restarts, the focus has been on the ‘return to work’.
COVID-19 has decimated the retail landscape, to different degrees in different retail categories.
As the old adage goes: ‘never let a crisis go to waste’. As a result of COVID-19, business owners and leaders now find themselves in an unfamiliar position.
Remote working was initially exciting for people – but with no end in sight, the excitement has quickly worn off and we all need to find ways to motivate ourselves and our teams while also maintaining a healthy work-life balance.
Every day has been like Christmas trading for essential retailers like Woolworths and Coles with significant supply and demand issues experienced in the past month – and not just for toilet paper.
While many retailers have opted to close their doors and wait out the storm, there are those that have pivoted and innovated to emerging customer demands – with sales for camping gear, exercise equipment, home entertainment and arts and crafts going through the roof.
‘Presenteeism’ (the art of being at work but not working) happens in many businesses – it may very well be happening in yours right now.
I recently attended the NRF Retail Big Show in New York, an overwhelming smorgasbord of retail technology and new store concepts.
Disruption is happening, organisations need to harness change to influence its direction. This was the crux of an engaging session we hosted with AGSM’s Melbourne Alumni this week on the business of transformation.
Mid-size businesses in Australia tend to be overlooked – they aren’t so big that they generate their own gravitational pull, and aren’t so small that a blip in the economy could result in closed doors.
In a recent article published by Grant Thornton US, it was cited that an estimated 43% of the US workforce (being 60 million people) will be contingent workers by 2020 and Australia shows no sign of diverging from this trend.
Ben Matthews recently met with the Managing Partner of a mid-tier legal firm to discuss the struggles he was facing in trying to build a successful partnership, including attracting and retaining great people, optimising working capital, maximising tax efficiencies, retiring debt and funding investment.
