When a business experiences sudden growth, it creates a myriad of emotions from joy and excitement to dread and fear. The progressive mind-set that stimulates growth can inadvertently cause us to be less sensitive to the negative emotions that might emerge as a result. Because we are creatures of habit, it is probably not surprising that some of the increased complexity and ambiguity can be quite unsettling. Paradoxically, this emergent fear can start to hinder growth, as leaders pick up on it and start taking preventative measures to avoid damaging customer relations, reducing service quality, and minimize the mounting pressure on operations.
The reality is that progress is part of doing business, and with some careful planning and forward-thinking, the growth period does not have to be ridden with pain. The right IT infrastructure can help to facilitate some of these big changes and make the process a lot smoother.
Recent research conducted by Epicor has explored the different approaches organisations take to growth. It’s been found that the three priorities tend to be in turnover and sales, profits, and expansion into new industries and product areas. The outlook for 2016 is positive; 70% of respondents expect growth in 2016, and 79% have made (or are making) investments in integrated IT infrastructure as a key to supporting growth.
A growing business can hinder employee satisfaction
A risk associated with business progress is employees becoming increasingly disengaged in the workplace due to heavier workloads, pressures, and deadlines. According to the Epicor research, 43% of leaders are concerned that as their business grows, workloads may increase to a level that places too much pressure on staff, prompting key personnel to leave the organisation.
It is vital to have the right infrastructure in place to support employees during growth. If technology can be used to ease the strain of increased workloads, employees can even find themselves empowered by growth. They may, for example, find themselves working on a wider variety of tasks, working closely with leadership to drive growth, and gaining more access to corporate knowledge if their roles are facilitated by the right technology.
How can businesses reduce the ‘pain’ of growth and plan ahead?
Any big change in a business – especially a surge in growth – can be disruptive and can filter through the organisation. The Epicor survey findings revealed that the top two stimulants for growth are ‘technology leadership’ (40%) and ‘skilled workforce’ (39%). This can be a two-edged sword. Organisations that are stuck with legacy systems might find themselves falling behind, unable to adapt to new business processes, or meet the demands of employees who expect modern technology in order to do their jobs. On the other hand, the organisations that leap onto new technology, will find themselves ahead of their competitors, ready to embrace new challenges.
A key facilitator in managing this process smoothly is to make investments in the right technology as the “demand for quick communication and transaction” increases.
Many progressive businesses are already doing this – according to the Epicor research 79% of businesses have made or are making investments in integrated IT infrastructure. Increased data visibility, for example through the use of the latest enterprise resource planning (ERP) solutions, can allow businesses to perform in-depth analysis of key KPIs, so that they can manage costings and profitability more confidently. Customer relationships can likewise continue to prosper during the growth period with agile and scalable ERP and manufacturing execution systems (MES) that meet their demands.
