- New Survey Shows Few Firms Are Investing in Capabilities to Respond to a Rapidly Evolving Business Landscape
Today, Randstad USA and Celerity announced a new study of businesses that shows just 15% of respondent firms could be considered highly responsive to the rapidly changing business landscape. The commissioned Responsive Enterprise study was conducted by Forrester Consulting on behalf of Celerity, the premium advisory services arm of the Randstad Technologies Group dedicated to helping businesses efficiently respond to change. It found that few companies have made significant improvements to better connect with customers, overcome internal silos and rework talent and culture to meet the headwinds driving today’s economy.
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The Responsive Enterprise study engaged business executives and senior leaders across seven industry sectors on issues related to customer strategy, operational effectiveness, and agility. It showed that building a more responsive enterprise enables brands to deliver better customer and business outcomes, such as share price, market valuation, and customer satisfaction. Other key findings include:
- Responsive enterprises are more than three times more successful at meeting customer expectations, and more than six times more adept at accelerating changes to meet market demands.
- Responsiveness improves bottom-line financials, with responsive firms 66% more likely to have increased revenue over the past five years.
- Strategic partnerships remain vital to responsive enterprise growth, with over 70% of companies describing external partners as important or mission-critical to their objectives.
- Highly responsive companies are twice as likely to re-invest in improved capabilities, effectively doubling down on their competitive market advantage.
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“We believe this study underscores how businesses have faced a rapidly changing strategic landscape since the beginning of the pandemic,” said Randstad North America Chief Executive Officer and Executive Board Member, Randstad N.V., Karen Fichuk. “Smart organizations that elevate responsiveness to a strategic imperative, apply customer-centric frameworks and experiment with new technologies to empower greater collaboration will weather current headwinds and position themselves for success in the long-term.”
“Business as usual’ is really anything but – companies of all sizes are grappling with a rapidly changing business landscape. And now, more than ever, firms are relying on technology to enhance their operations and drive growth,” said Randstad Technologies Group CEO Graig Paglieri.
“It is imperative that organizations place customer-centric objectives at the heart of their organization,” said Celerity President Curt Schwab. “We are proud to commission Forrester Consulting to produce these timely insights and offer cross-cutting recommendations to help large and small firms adapt to the changing business landscape.”
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