The whirlwind that was….
Here we are, we are rapidly approaching the end of 2024.
If you are like most of our customers (and us here at Optimum) you are probably asking yourself “Where did that year go?’
This year seemed to fly past but why?
Well, I think 2024 was the year of correction from the covid pandemic. Many organisations have entered a ‘new normal’ and this has caused various reactions.
Organisations are running leaner: doing more with less people, AI and IT have been introduced to help with productivity, change has been everywhere. Budgets have tightened, uncertainty has increased – these factors mean that we have all been busy and when this happens time flies!
This type of environment has seen every organisation go through some sort of change
The 3 main types we have witnessed are:
The growth business:
2024 has been challenging for some businesses but some still have enjoyed growth. For these growing companies the people challenge remains:
a. Finding the right people to assist with growth remains a challenge – yes, the market has eased a little, but we are still at 4.1% unemployment levels indicating good talent is still in high demand.
b. Retention is still a fight for many organisations: keeping your high potentials / high performers remains tough.
The downsizing business:
For many organisations 2024 has seen a decrease in business:
a. Redundancies and restructures have taken a precedence
b. Voluntary Administrations have increased
c. Uncertainty for some has been a big theme across the year
The right-sizing business:
From my Covid hangover blog, many organisations have taken the opportunity to go leaner and meaner, they have replaced ‘average performers’, taking the opportunity in a changing labour market. From our perspective, I am pleased and proud to say Optimum has helped all these types of businesses in 2024.
Some of the initiatives we have assisted with include:
Reviewing and recommending current and future organisational structures to reduce costs or to set for growth
Leadership development – we have helped with high-performing team dynamics, self-reflection and how teams can work better together.
High Potential programs – developed a 12-month, 4 module program incorporating latest research, job rotation and self-learning.
Engagement: we continue to provide insightful data to a number of organisations using our Tandem and EmployeeLife products.
Psychosocial hazards: we have assisted in identifying needs in line with the 2024 HR reforms.
Culture Transformation: we have assisted numerous organisations in moving their culture to focus on productivity and performance.
Aligning Organisational strategy to People strategy and ensuring our customers are workforce planning effectively and have the capability to achieve strategic goals.
In House HR – we remain committed to providing strategic and operational HR/ER/IR advice.
ER/IR training: we have assisted in educating managers on what the HR reforms mean and how to hold difficult conversations and effective performance meetings.
Outplacements: we have assisted numerous people with a career transition after redundancies.
M&A: assisted two organisations through merger and acquisition, ensuring their people are managed through the process.
As you can see we have helped different organisations manage their challenges.
2025 will, I am sure, see more changes but in the meantime, let’s all get to the finish line for this year, use the festive season as a natural break, refresh, recharge so we are ready for what 2025 has to offer.
Look after yourself and each other!
Stephen Cushion
General Manager – Consulting
Stephen joined Optimum in 2015 as the General Manager of the Consulting practice based in Brisbane. Stephen brought with him vast experience across HR consulting and executive recruitment…