T HE W RAP- UP
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Key Takeaways
CATCH UP QUICK: From a supply chain hack to the risks that come with vaccine data, here are a few of the highlights from this edition of Executive.
MIND THE GAP
NEED-TO-KNOW BASIS
STRENGTH IN NUMBERS
PRESCRIPTION FOR GROWTH
IT, MEET IP
MAKE TIME TO STRATEGIZE
Last year’s Great Resignation shed light on the disconnect between employers and employees, and now there’s data to support it. Future Forum Pulse surveyed executives, 66% of whom said they are creating post-pandemic policies without employee input. The same percentage believe they are “very transparent” about workplace policies, while only 42% of employees surveyed agree. “The Most Valuable Lesson from 2021,” p. 26.
In the face of limited shipping capacity, some middlemarket companies are banding together through purchasing associations to get access to shipping containers. Enterprise Purchasing Group is one such organization (and an endorsed partner of ACG) that helps midsize companies get a leg up at a time when space on ocean freighters is hard to come by. “Chain Reaction,” p. 36.
A successful technology implementation often hinges on having good partners, so asking the right questions of contractors up front is a must. One area that’s often overlooked is intellectual property. Before engaging a contractor, the client should inquire about IP rights to make sure the company will retain IP ownership for the work being done by a third party. “Digital Transformation Takes More Than Technology,” p. 30.
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Employers that are collecting information about vaccine status and COVID-19 test results must protect that data or risk regulatory action, lawsuits and reputational damage. For starters, employers should collect as little information as possible to achieve their goals. Do they need to know which brand of vaccine, or where the employee got the jab? If not, don’t ask. “COVID-19 Mandates Bring New Security Risks for Employers,” p. 12.
Marketing tends to be an afterthought following an acquisition, even though it can be an important tool for creating value. For a private equity healthcare practice roll-up, for example, it’s wise to build and run a marketing plan that all of the offices can use, then tailor it as needed. The benefits include efficiency, simplicity and economies of scale—and ultimately, a path to achieve growth and profitability goals. “Prioritize Marketing After the Deal Is Done,” p. 46.
Planning and time management become especially important during times of uncertainty. They’re skills that Martin Okner, president and COO of beauty brand dpHUE, says helped him as a leader during the pandemic. He recommends putting time on the calendar to reflect on the big, long-term questions that will shape the future of the business, so that the day doesn’t get eaten up by reactive meetings and other pressing tasks. “Leading with a Steady Hand,” p. 20.
1/27/22 9:39 AM
