Blog

ATLANTA, January 26, 2021 / PRNewswire / – Eighty-three percent of senior executives at companies with $ 1 billion in revenue in various industries rank cybersecurity as their top priority this year, closely followed by operational efficiency (80%) and customer experience (79%) North Highland 2021 Beacon Report. However, executives do not feel “very prepared” to meet their top priorities.

Interestingly, when companies emerge from a pandemic-rocked year, most executives see optimistic growth. 51% expect sales to increase by 5% or more compared to the previous year, and only one in five expect a decrease. Retail and life science companies are most likely to expect growth (80%), while only 20% will grow in the state and public non-transportation sectors.

Barbara RayThe CEO and President of Client Services said, “As the pandemic continues to create uncertainty, executives are pursuing a technology and data transformation. However, they are realizing the critical reality that the workforce is an important missing element by engaging in agile ways Focus Through workflows and more frequent planning cycles, organizations can increase the flexibility in the workplace that is needed to increase operational efficiency and the customer experience. These areas can lead to continued differentiation in the marketplace. ”

Other priorities to drive growth include digital capabilities and data and analytics, both cited by 78% of respondents. Additionally, global health issues have brought the safety and wellbeing of employees to the fore. Three quarters of organizations focus on employee and customer wellbeing, diversity and inclusion. These areas can help improve physical and mental health in the workplace and beyond.

Unsurprisingly, 71% of respondents consider the pandemic to be the biggest external barrier to readiness to achieve priorities, with customer requirements (42%) emerging as the main catalyst for change. Leading internal barriers are budget constraints and skills / abilities of the workforce with 66% each and a focused / clear strategy (61%). Fiscal pressures are most felt by executives in the hardest-hit transportation industry, who are most likely to see priorities as costly to resolve.

Business transformation initiatives this year mainly focus on data and technology (51%). Ray noted, “These efforts are required to refine digital and operational changes that were implemented during times of crisis in response to the rapid and massive changes that businesses and consumers have made to enable remote working and online activity.”

44 percent of companies also see transformation efforts as a priority to improve customer experience and digital skills.

The North Highland Beacon Report tracks trends to understand top management priorities and includes responses from 730 top decision makers from companies with over $ 1 billion in revenue in the US and the UK. Sectors include financial services, retail, transportation, life sciences, and media / entertainment / communications. The full Beacon 2021 report can be found at: https://www.northhighland.com/Beacon-2021

Over north highlands

North Highland is transforming and helping businesses transform by putting people at the center of every decision. This is how lasting progress is made. With our mix of workforce, customer and operational competence, we are the world’s leading transformation consultancy. We are breaking new ground today so that it will be easier to navigate tomorrow.

Founded in 1992, North Highland is an employee owned company that is consistently named one of the world’s best places to work. We have more than 5,000 consultants worldwide and more than 65 offices worldwide. We are now a proud member of Conference Worldwide (www.cordence.com), an international consulting alliance. For more information, please visit www.northighland.com or on LinkedIn, Twitter and Facebook.

Media contact: Jaclyn Proctor:: [email protected]

SOURCE North Highlands

similar links

http://www.northhighland.com