Don't lose sight of the essentials amidst all the crisis defense
In the face of constant crises, the majority of companies neglect to focus on the essentials. More courage and determination is needed to consistently improve performance. This is shown by the latest "Performance Drivers 2024" study by management consultancy Staufen.Inova. The study is based on surveys of over 200 industrial companies in Germany, Austria and Switzerland.
"Numerous challenges that should have been solved yesterday rather than today are currently tying up valuable capacities in many companies," says Urs Hirt, Managing Director of Staufen.Inova AG. For example, 76 percent of the companies surveyed admit that solving acute problems currently takes up the most time and energy. And in view of the stressful day-to-day business, only one in four companies is able to consistently implement strategic decisions.
The results of the study show the challenging times in which the economy in the DACH region is currently operating. 83% of companies state that they have rarely faced such diverse challenges in their history. The spectrum of negative factors ranges from climate protection measures to geopolitical uncertainties and internal problems. The industry feels most challenged by the shortage of skilled workers (62% of companies) and the economic situation (59%).
Operational excellence instead of paralysis of fear
"Even if many challenges - such as bureaucracy, supply chains or energy supply - are admittedly not always within a company's direct sphere of influence, complaining doesn't help," says Staufen.Inova Managing Director Hirt. "If you want to drive your business back to peak performance, you have to leave your comfort zone and take a bold approach. Operational excellence instead of paralysis of fear. This is the only way to free up the necessary resources to invest in new technologies and employee qualifications."
Companies are therefore faced with the challenge of getting their figures under control without losing know-how and clout. Traditional job cuts are therefore likely to provide short-term relief at best. "Ultimately, successful performance improvement means that I am determined to identify and implement the measures that will improve my income statement," Urs Hirt is convinced. "This consistent increase in performance can only be achieved through a holistic operational excellence strategy that includes process improvements, employee empowerment and data-based management of financial performance."
Cautious optimism for the future
The prerequisites and the attitude that this path could succeed in many companies are definitely in place. After all, when looking to the future, 40% of those surveyed for the "Performance Drivers 2024" study see more opportunities than risks for their company. A further 46% agree with this statement at least to some extent.
Source: www.staufen-inova.ch
