Overcoming the Great Resignation
Workforce retention is a recent hot button issue that has gained wider recognition in the aftermath of COVID-19. The Great Resignation of the past year only underscores the value of keeping top-tier talent. Being unprepared is no longer an option. As things settle into their post-pandemic normal, we thought it was a good time to share what we have learned advising organizations of the future.
Even though the work we do and how we do it continues to evolve, one thing remains certain; consistency counts. Like a game of telephone, disconnects that often occur during a product’s adventure from idea to tangible can have a substantial impact on long-term success.
Changing market dynamics, disruptions and of course, retention, can all work together to hobble a product and impair its ability to reach the market. As the perfect storm of economic uncertainty and SME scarcity meets the need to maintain the pace, change program failure rates of 70% or more are now more in focus than ever before. However, the good news is the partnership between man and technology continues to offer increasing promise.
As the speed of business continues to accelerate, leading organizations are using this opportunity to rethink how they staff and why. This misalignment between the resource supply and demand has created an awareness that technology can augment the work of subject matter experts. We call this new approach “consultech” or technology-enabled consulting. Technology offers an opportunity to quickly build scale without sacrificing precision; vital processes like product prototyping and backlog prioritization can now be quickly stood up through standardized workflows.
Beyond immediate, cost-effective scale for product development or large project administration, consultech solutions also offer organizations options that standard solutions may not. When work is modernized and properly organized, planning and capacity management become easier and more collaborative. Technology also creates new options for procuring, onboarding, and creating work processes for the increasingly evolving skillsets of vital long-term talent. Marketplaces and specialty gig economy staffing firms are examples of how technology-enabled work is opening up a world of new options for organizations to acquire needed subject matter expertise when their program demands it. Consultech solutions also create an easy onboard ramp that allows contracted talent to easily integrate into existing work ecosystems. Our research shows that organizations see substantial reductions in cost and time to market and dramatic increases in innovative ideas and success likelihood when they blend technology with more agile expert-based models.
As sides continue to dig in on the work from home debate, one thing is certain; the market is not waiting, and neither should you. That’s why leading companies are learning to be more flexible with whom they work while still retaining the same quality and passion that makes their brand great. While there is no single method for guaranteeing successful outcomes from change, by embracing new ways of working, leading organizations are thinking differently about their workforce and their people are taking note. As we like to say here at Simpel, change works at its own rhythm. You either learn to dance or get off the floor. We believe that learning to duet with change instead of dominating it is a better way to win. By being flexible and working with the market, leaders are building organizations that are more flexible and sustainable than ever before.
About Simpel and Associates
Simpel and Associates is a leading provider of product development and large program solutions. Our Rapid Product Prototyping (RPP) solution helps leading organizations cut through the noise and bring winning ideas to life. This solution is a product offering within Kinetic Transformation Accelerator (KTA), our suite of out-of-the-box solutions that use a proprietary algorithm to deliver scale and expertise for the large programs that drive organizations forward.
To learn more about RPP or see a demonstration of KTA, click here.
