The start of a new financial year provides us as business leaders with an opportunity to reset our organisation’s strategy and refocus on the direction we want to be heading.
More so than most, this April marks a pivotal moment for the UK services economy, as the conflict in Iran risks derailing what had begun to look like more than just green shoots. The impact the war has had on consumer confidence will be particularly concerning for many of us.
As service leaders, the relationships our organisations build with our customers define us. Entering this new financial year, there will be additional strain and stress which will test business resilience – potentially exposing vulnerabilities across the value chain. We will need to adapt, show customers, clients and supplier partners we understand the pressures they are under, and work hard to bring them with us on this journey.
Clarity of mission
Across the Service Nation and particularly within our membership, there are many examples of organisations doing great work that genuinely resonates with customers.
As has been clear at the various events, dinners and conferences we have been involved with over recent months, there is no shortage of senior talent in this country. I am, however, concerned we are seeing a growing disconnect between strategy at the top and how the implementation of that strategy is felt on the ground – by employees and customers alike.
As automation accelerates and the pace of technological change quickens, we need our people, at every level, to understand precisely what is required and how they can help drive the strategy forward. That clarity of purpose – and individual accountability – is what enables sound decisions under pressure, and we need to listen to our colleagues and customers and adapt the executional delivery where necessary – we cannot afford to dither.
In a recent conversation I had with a seasoned retail leader, we agreed that any effective leader can trace their success to clarity of mission. Through the customer lens, this means communicating from day one what they should expect and the standards your organisation plans to consistently meet in its service delivery. That also means being clear about what you stand for and steadfast when under pressure about your purpose. A good business strategy, product and customer experience coupled with an effective and committed workforce will ensure you deliver to the longer term. Well-run businesses can weather the storms and should have appropriate scenarios tested well in advance – Covid if nothing else should have taught us this!
This foundation frames effective decision-making and business investment, and anchors choices in what matters most. Without it, even well-resourced organisations find themselves reacting to events rather than shaping them.
Accountability across the value-chain
We also discussed a related and equally pressing, challenge: where does customer leadership actually sit? The answer, in today’s operating environment, has to be everywhere. Every employee, at every level, shapes the consumer journey and contributes to the corporate culture.
And the evidence is clear: organisations that embed a genuine culture of service accountability – where ownership is distributed and understood, not delegated and forgotten – build more resilient teams and more loyal customer bases.
The new financial year represents an opportunity to set direction and to lead with intention. The leaders who understand that will be best placed to navigate the challenges in the months ahead.
As we head into Easter, I would encourage all to reflect, refocus and remind ourselves that we are a service nation that has resilience and opportunity – but we must stay focused and steadfast on our purpose and relevance whilst remaining agile in our execution. Together we can, with the right direction focused on driving through the service nation, all make a difference.
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