“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair . . .” (Charles Dickens, A Tale of Two Cities)
When Charles Dickens wrote A Tale of Two Cities he very well could have been talking about the Alberta or Canadian economy today. Some of our clients see our current situation as “the best of times”; and others, see it as “the worst of times.” Faced with almost identical circumstances will your company rise up to the productivity challenge and see 2015 as the year of opportunity? The current economic environment is ripe for opportunity, whether your business is an oil sands producer, a supplier to the Alberta energy value-chain, or a manufacturer in Ontario – 2015 should be seen as a year of opportunity.
Based on conversations with clients and having been through a few other downturns, I see five main opportunities to be had in the market today:
Invest in your people – take a look at your people from the leadership team to your shop floor. What leaders need leadership training to help take your organization to the next step? What shop floor or operational leaders would benefit from Lean Six Sigma training like our upcoming Green Belt?
Optimize your processes – from an enterprise value chain map, to your office productivity to 5S on the shop floor, how you do what you do is more important now than ever before.
Build your team – with the labour market softening you can worry less about attrition and job hoppers and focus on building the team you need for future success – not the team you could find
Invest in innovation, technology and R&D – technology can help improve your business, so in the next boom, you don’t need to be as reliant on finding new employees to ramp up. With low oil prices, energy companies look to innovation and technology to help bring down extraction costs, operating costs, and improve environmental performance and sustainability. Your idea may lead to helping not only your company, but your industrial value-chain.
Expand or move shop – with record low interest rates and softening construction costs, that new plant or next office location may suddenly be within reach. Be it moving downtown, expanding your plant or manufacturing centre, or expanding markets to another province or country – 2015 may be the right year.
The companies that come out of 2015 at the top will do so because of productivity, be it the five opportunities identified above or one of your own.
How do you want to remember 2015? As a wasted opportunity where you turtled and lost ground to the competition or will you grasp the opportunities and emerge stronger, better, and ready for the next commodity market swing.
GO Productivity is here to help. Whether it’s training your people, optimizing your processes, building your team, investing in innovation and technology, or setting up a new shop – we can help by building a productivity improvement solution that’s tailored for your business.
It all starts with a conversation, so give us a call today at 1 780 471 7060 to learn more.