2020 has been incredibly difficult due to the pandemic, economic recession and many other COVID-19-related disruptions to everyday life and commerce. Unfortunately, we expect the industry will continue to be challenged in 2021, so leaders must remain hyperfocused on completing current projects under changing conditions while also preparing for tougher market conditions to come.
However, as critical as performance-based strategies are to weathering difficult markets, it is vitally important that a leader remains committed to the company’s vision and the core purpose and values that define the organization. After all, strategies will evolve as market conditions change, but the continuous pursuit of your envisioned future is constant.
So with both the near and long term in mind, this edition of the Quarterly includes articles on operational excellence: getting “mean and lean” to outperform, improving productivity and managing talent, as well as reminding you why staying true to your company’s vision still matters. One article introduces the concept of a COVID-19 productivity factor that captures both positive and negative effects of pandemic-driven changes to crew size, job site conditions, project schedules and other work processes. In another piece, members of FMI’s Performance practice describe six elements necessary to out-execute the competition, taken from our work with dozens of the industry’s leading companies. Lastly, in an article titled “Does Vision Still Matter?” principals from our Leadership & Organizational Development practice contrast average leaders from visionary leaders during times of crisis.
In closing, it may seem absurd to think of any silver linings resulting from the damage wrought by COVID-19. However, in much the same way the financial crisis that caused the Great Recession alerted the industry to a pending downturn, the pandemic is forcing the industry to tighten operations and management practices in response to the pandemic. After a decade of sustained growth, you are now called to lead and manage through a period of uncertainty and potential disruption. The FMI team is here to help.