How organizations will succeed despite uncertain times

By Jared Haleck, SVP Product, Mavenlink

While our current economic and cultural environment should settle to some degree, the fact is that the "new normal" means high volatility. Organizational leaders cannot stand by and wait for things to return completely to normal before they act.  Markets under pressure, like the pressure we see today, demand more efficiencies. In that context, companies will be required to do more for less. Software companies that can help their customers reliably increase efficiencies are more likely to flourish in this economic environment.

The following predictions are about the state of this market and ways organizations can approach succeeding despite the uncertainty they face.

1. A macroeconomic trend that happens in recessionary economies is that markets become efficient because companies tend to feel the same way about their outlooks. Against this backdrop, the winners in the professional services industry will be able to operate at a level of efficiency that hasn't been required in previous eras. One area that will create the most leverage will be how teams fulfill resource demands of the projects they're staffing. Companies that ensure the absolute optimum utilization rates and that create the least amount of waste will be better equipped to handle the current climate of economic uncertainty.


2. The shift to remote work has changed many industries and processes. For example, salespeople are selling virtually, which intersects with customers' preference of not having to host salespeople in person. 2021 will witness an extension of that concept beyond sales but in every function and industry, including professional services. We will start to see more organizations realize that they can deliver most of their services remotely and customers actually prefer that delivery model.


3. In 2021 we will see more traditional constraints fall by the wayside because of remote work. For example, companies will be able to hire the best people regardless of geography. For professional services organizations, this may mean around-the-clock coverage if the organization can line up time zones efficiently. As a result, time will become a more important variable as considerations like time zone offsets are given more weight in staffing decisions in the resource management processes.
   

We will continue to exist in an environment where organizations look to optimize and deliver services as efficiently as possible and do as much as they can with the teams they have today. Even more crucial than that-as we think about the coming recovery-the ability to forecast what's coming, predict demand, and remain informed will help companies make intelligent decisions. Companies that take a proactive approach to facilitating innovation and creativity are more likely to unlock their full potential and succeed even in this challenging market.

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About the Author

Jared Haleck is a category-creating product leader, with he and his teams focused on transforming the professional services industry. Jared began his career in technology and SAAS as the first employee of InsideSales.com. While leading the product department at InsideSales.com, Jared and his team pioneered nearly every major technology used by today's digital sales teams, including many AI solutions for sales.

During his tenure at InsideSales.com, Jared was a disruptor and a disruptee. "The refiner's fire of disruption has helped him build a better understanding of how to build innovative B2B SAAS products that win," said Jared. At Mavenlink, Jared is focused on using his experience to drive disruptive innovation in the multi-trillion-dollar services industry.

Jared is originally from the South Pacific and currently resides with his family in Silicon Slopes, Utah, where he and his family enjoy skiing and other mountain sports.