Peak Performance: Elevating Organizational Effectiveness in an Economic Downturn

Only 5% of organizations are at 'white collar' full potential productivity, with survey results suggesting that organizations have, on average, more than 25% greater full potential productivity than today. Many factors comprise this productivity gap and solutions require a focused, coordinated effort to drive peak performance. 

BOSTON, Nov. 14, 2022 /PRNewswire/ -- Most data shows we are approaching an economic slowdown and Creo Advisors' recent Executive survey suggests 'white collar' organizations have meaningful opportunity to achieve greater productivity. Admittedly, it's a challenge to achieve given the massive disruption, evolving work models and rapid pace of change in recent years. Many business models and process have yet to catch up. Anticipated profit pressures in 2023 will compel industry leaders to 'rethink' their business to elevate team performance, making more effective use of new processes, policies and tools.

We surveyed more than more than 250 executives from US companies with revenues over $100M, who felt:

• Only 5% of companies perceive themselves at full potential 'white collar' productivity
• Companies have, on average, full potential organizational effectiveness equating to more than 25% greater 'white collar' productivity

Many factors have led to this productivity opportunity. Our survey identifies a set of factors which limit organizations from achieving peak performance such as:

• Leadership effectiveness
• Employee engagement
• Meeting frequency and effectiveness
• Hybrid work optimization
• Process improvement
• Accountability and feedback

Rich Vitaro, Managing Partner and Founder of Creo Advisors notes that "Elevating organizational productivity is complex but a tremendously valuable endeavor. It has become more difficult for cross-functional organizations in this rapidly changing, disruptive environment, where workload, technology and low barriers to meetings and tasks can lead to overwhelming complexity and priorities. Removal of low value-added tasks have never become more important. Additionally, many companies are retaining legacy processes despite a new work environment and pace of change. Prioritization, using the right tools and enhanced communication will help enable organizations to 'row together' more and achieve elevated performance. We apply advanced analytics as well as qualitative techniques to help organizations address these challenges and raise productivity".

The environment in 2023 will likely remain fluid and require agility to flourish. Survey findings emphasized that disruption will continue in 2023 but with different themes. Rich added "In 2023, disruption appears to be less about supply chain, inflation and hiring, although they remain very important, and more about navigating a potentially more challenging financial environment and possible China/trade issues. Additionally, companies seek to improve workforce effectiveness and engage new and existing customers to capture market share. Finally, as companies are in the planning cycle it's important to set appropriate expectations for next year. We found 50% who see a recession for this year or next year, also envision growth for their own sector in 2023. The likelihood is more companies will be negatively affected by the market than they may think."

Given the magnitude of disruption and pace of change in recent years from events and technology, organizations have adapted but not perfected performance. The realization is that 'work from wherever' is here to stay. Our survey shows only a 5% increase in return to office for 2023, with a very hybrid model still in place. As companies seek innovation, change and lower cost, they are also reaching out more to external partners. The survey showed that a significant amount of companies are currently working with outside partners in areas such strategy, procurement, manufacturing, distribution, marketing and back-office support. Even with a potential downturn, companies expressed the continued use of outside partners across the value chain. 'Best-in-class' companies are further integrating external partners into an organizational ecosystem to expand capabilities, provide agility and drive change. More opportunity exists to strengthen these cross-department and cross-partner workflows to maximize effectiveness.

The anticipated downturn will place greater pressure on organizational productivity, yet few companies are full prepared with highly productive, agile organizations achieving peak performance. Leading companies can take a fresh approach to 'recreate' organizational effectiveness leading to peak performance. Will this be you?

Creo Advisors is a consulting firm that partners with ambitious Management, PE Firms, Boards and teams seeking to achieve superior performance. We help clients "create" sustainable value by identifying, focusing, and executing on key levers to deliver peak performance. Client success is our 'North Star'. Creo Advisors provides Strategy, Growth, Supply Chain, and Human Capital services to companies across multiple industries. Please visit our website at www.creoadvisorsllc.com

For more information, contact Creo Advisors at: [email protected]
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SOURCE Creo Advisiors LLC