Our Clients’ Priorities for The Remainder of 2021
Our team of consultants spoke to many of our clients by the middle of this year, this very interesting year in the history of humanity, economies and business. We asked our clients what their priorities would be for the rest of 2021. Here’s a compiled list of what we found out out at the end of this study.
The Team
Carried over from last year, team members are still at the top priority of our clients this year. Our teams have been going through very challenging times over the past two years. This means additional focus continues to be the priority in order for our clients to still be able to rely on powerful teams in order to conduct business in 2021.
“Compensation, awards, extended sick leave, improved insurance policies etc.“
We are talking less about entertainment, employee experience and culture, and rather more about essentials such as compensation, awards, extended sick leave, improved insurance policies etc.
The Funding
Many economists and forecasters are expecting a lot of uncertainty in the coming months. In a recent webinar that our analysts were invited to by ABANA, Dr. Mohammed El-Erian, President of Queens’ College Cambridge and Chief Economic Adviser at Allianz, the corporate parent of PIMCO where he was CEO and co-Chief Investment Officer, Dr. El-Erian underscored the level of uncertainty want you expecting coming months.
“There [is] a lot of talking about raising money more than making money”
In such times of uncertainty, businesses tend to make sure they are well-funded for when the tide is high, so to speak. Sources of funding may vary in nature, volume and interest. On the other hand, there’s a lot of concern about the fact that there was a lot of talking about raising money more than making money. We have been advocates of the former rather than later for the past five or so years.
The Consolidation
A common pattern this year when assessing the plans of our executive clients is consolidating all they can consolidate in order to achieve not only efficiency, rather synergy and competitiveness. There is a lot of power in collectivity, a controversy that most family businesses, which represent a big part of our clientele, are torn in the middle of. Family members coming together forming a business was always a great start. Sticking together is a challenge. Merging with other power houses, especially when leading a family business is much harder.
“Products lines, client segments, departments and even entire companies are up for a great call for mergers […]”
Bringing 2 teams together could achieve more synergy than one might think. Our clients realized that recently and working against a plan to achieve as much synergy as possible. Furthermore, products lines, client segments, departments and even entire companies are up for a great call for mergers and consolidation in 2021.