How can my company be more adaptable in a changing market?
Great question. A company that can adapt to the changing environment is one that has a distinct advantage over their competitors.
Being adaptable is all about how your company deals with change, how quickly you can execute on an idea, and how well you listen to what is happening within the company, clients, industry, and culture at large.
Here are 5 questions to ask about your company
- How easy is it for an employee to take care of a dissatisfied client on the spot?
- What percentage of the average employees’ core job functions require them to follow a process?
- How often are employees allowed to use their best judgment or go “off script” with a client?
- Are all employees rewarded for their suggestions?
- How many new ideas have the company tried recently that have failed?
5 Answers: How an Adaptable Company Would Answer
- How easy is it for an employee to take care of a dissatisfied client on the spot? The answer to this should always be “Easy” as the employees dealing with clients can uncover changes in the industry, customer needs, and brand engagement. You receive bonus points if your company has a way to track the information and act when trends emerge.
- What percentage of the average employees’ core job functions require them to follow a process? This is very dependent upon the industry, but you need to improve if your employees use phrases such as; “It is our policy,” “Corporate says we have to do…” or “I’m sorry, my system makes me…” Systems and processes are great, but companies that rely on upper management to tell everyone else how to do their jobs will not move fast.
- How often are employees allowed to use their best judgment or go “off script” with a client? This should be “very often,” depending upon the industry. If giving your employees this much autonomy scares you, then you have a training issue or a micromanagement issue. Allowing trained employees to use their best judgment when working with a client will result in happier clients and employees that have more pride in their work. However, it is best to require employees to record what they did for a client and why. It is also equally important to review what employees are doing to watch for trends that require action.
- Are all employees rewarded for their suggestions? By this point, you should know that the answer is “Yes.” Companies can gather the great ideas their employees have on improving their working environments or client’s experience because they are on the front lines. They have an in-depth understanding of the needs. Companies that have a culture that listens to their employees have lower turnover, as well as the ability to adapt to changing needs quickly.
- How many new ideas have the company tried recently that have failed? For the genuinely adaptable companies, the answer should be “a lot” because companies that are willing to try new ideas have a culture that is willing to change with the times.
Where does the change start
Change comes from the bottom, not the top. The top of the organization will allow the change to happen and rewards the initiative, but meaningful change originates from the employees doing the work with the clients and products.
Strive for continuous improvement by listening to employee suggestions, client complaints, feedback, and tracking trends, all while rewarding change within the organization.
The focus is not about ensuring every step is the correct step; the goal is to be flexible and able to change with the times.
How adaptable is your company? Comment below.
If your company is focused on being adaptable and delivering a better client experience, Glover Strategic Marketing can help. Glover Strategic Marketing works with companies to develop the plan to transform their client’s experience throughout the entire buying cycle (marketing, sales, customer service, after-sales support, etc.), resulting in more loyal lifetime clients in their targeted markets.