Rethinking Profitability – How SME’s can rebuild after Covid-19

As we emerge out of what is hopefully the last lockdown, employers have important decisions to make on how to reopen the workplace safely.  For many companies, rebuilding means trying to return to pre-COVID levels of business and traditional ways of working.

With many businesses continuing to focus on reducing overheads with a view to returning to normal, pre-COVID-19 levels of profitability in the near future, businesses who champion a strong company culture and invest in their talent will reap the benefits as the post-pandemic recovery continues.

Championing a strong and responsible company culture is no longer a box-ticking exercise – it’s a fundamental part of business growth.

One of the ways SMEs can achieve this is by looking at performance and employee data. Analysing the detail behind the data will often highlight areas where behaviour is impacting costs.

However, that traditional view of improving your financial strength may not be possible at the moment, or it may take too long. To thrive after the pandemic, businesses may need to completely rethink their route back to profitability.

For example, when we look at overheads, all too often some of these are simply viewed as the cost of doing business, with many leaders not realising the positive impact that people management can have on optimising costs and improving profit margins.

Rethinking profitability: How SMEs can rebuild after COVID-19 (globalbankingandfinance.com)

Our HR Consultant Dee Newton, loves working with SME’s to create and build positive cultures; including analytics, continuous improvement and people management strategies.