Risk & Resilience - Reshaping Strategies for 2023

Wow is there no end to the turbulence? I am not sure where to start with a list of the key hurdles for 2023 & beyond, however I think they can be summarized with an increased consideration to improve risk and resilience within every company.

Some of the challenges we are being bombarded with include:

1. Continuing labor shortages in most key markets (and many secondary ones)

2. Massive increases in energy costs, particularly in Europe

3. Increased focus on sustainability/ ESG

4. Heightened geopolitical tensions

5. A sharp reluctance for workers to return to the office

6. Extreme weather

These have forced organizations to reconsider their traditional strategies of where and how to operate their businesses around the world. From Hickey’s perspective, that means we are being continually asked ‘WHERE NEXT?’

So, to make your life easier here are some solutions that we are implementing with our clients:

• Talent – where are the most resilient talent pools at the right cost?

  • Should you consider ‘new’ locations with a growing talent pool and less competition?

  • Are you embracing hybrid working by offering more choices to your employees? (However, don’t reduce your office footprint too far and maybe accept the embedded cost of low attendance on some days to provide the optimum working environment)

• Diversity & Inclusion (DEI) – how can we use hybrid working to improve?

  • Consider leveraging home working to attract a more diverse workforce by finding talent in new remote locations?

• Supply Chains – how can we build more resilience into our network?

  • Is there a closer-to-home (market) location which increases our resilience AND reduces transport miles & costs?

  • Where are the lower-risk locations to mitigate the above challenges?

• ESG Agenda – how to embed it into your location strategy?

  • Evaluate each location’s performance based on key data metrics

• Economics – all the above may require expanding an existing site or moving to a new location which will cost more.

  • Are there any local or government incentive programs to financially support our change of direction?

  • Will they support more investment in automation?

For more information on these critical updates on risk and resilience and reshaping strategies for 2023, please connect with a Hickey EMEA Location Strategy & Incentives expert today:

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