Harvesting Opportunity
By Paula Bradison
Just today, a competitor suggested that BMG close our
office—that during economic downturn, “smart” leaders
cut budgets, and the first things to go are strategic planning,
employee development and, in his words, the “kumbaya” elements of business. In short, employers don’t have the stomach
for the touchy-feely.
We respectfully disagree.
In many companies, there is an expectation that, in order
to help a company grow, an employee must specialize across
a wide variety of competencies. However, just asking your
current staff to take on more specialties will not satisfy your
customers or your business’s needs.
Here is an example: if you were building a house, would
you have your plumber also handle the wiring? Unless
your plumber also trained extensively as an electrician, you
wouldn’t. Specializations take time and energy to develop and
they are not readily accessible skillsets.
In economic recessions, the truth is that there will be
staffing cuts and responsibilities must be delegated to those
who remain. A leaner staff must work efficiently in order
to ensure that the work gets done and quality is maintained.
Loose ends have no place in a lean staff. Those who must
shoulder the burden need to have comprehensive knowledge.
Thus, it is vital that companies make sure they are stacking their bench with a team of specialists for each area they
serve.
We base our recommendation on a study by Harvard
Law. The research from the
study finds that collaboration
between professional service
firms of different specializations increases revenue and
Paula Bradison
business opportunity from
shared clients (Gardner, 2015).
In the case of a single company, our vision is that the highest
level of competency per business sector is established. Those
individuals collaborate to continue and grow business.
We have taken our own advice, and have spent the last
five years stacking our own bench, so that we have specialists
across a pool of industries who can help BMG and our clients
grow.
This leaner staff surely means that employers will be
saving money during the economic recession. Yet, for every
salary saved, employers seem to be at a loss for what to do
with the money they now have at their disposal. The answer
is exactly what our dear competitor advised against--reinvest
STRIVE
11 July 2016
those salary dollars into the employees still on the team.
Specialization does not mean that there is never room for
development, or perhaps there is a particular employee who
needs to fill the shoes of one specialist. In a world where only
34 percent of employees are engaged at work (Gallup, 2016),
employers who simply expect employees to develop new skills
will be disappointed. But, if they invest their efforts towards
developing their employees and collaboration, they will likely
see outcomes that speak to the future of their company.
...Just asking your current
staff to take on more
specialties will not satisfy
your customers or your
business’s needs.
In order to succeed, employees have to work together.
While employers would love minimal staff that can do whole
projects by themselves, collaboration between specialties
earns higher margins, inspires greater client loyalty and gains
a competitive edge (Gardner, 2015). It turns out the touchyfeely is necessary in order to maintain a successful business—
it isn’t the fluff our competitor wishes to paint it as.
Employers take note: though a difficult road lies ahead
in the wake of an on-coming recession, there is opportunity.
You have the chance to reassess your definition of the word
“versatile,” and apply it to the team you will have at your side
to brave the storm.
REFERENCES
Gallup. (2016). Gallup Daily: U.S. Employee Engagement.
Retrieved from http://www.gallup.com/poll/180404/gallupdaily-employee-engagement.aspx.
Gardner, H. (2015, March). When Senior Managers Won’t Collaborate. Harvard Business Review, 93, 74-82.