There appear to be several drivers behind this. Businesses are still facing large levels of economic uncertainty. In the UK, 65% of respondents said economic uncertainty is a barrier to growth, slightly up on the global average of 61%. We may be seeing a reluctance to invest too heavily in fixed assets before the dust fully settles on post-COVID-19 life.
The movement online during coronavirus also changed the value drivers for organisations. Fancy offices and prime locations were made redundant in the online setting, with the value being brought almost exclusively through their people, products, and services, all of which would be supported by various technology platforms.
Given that the move to online working has made it easier for organisations to reach new markets and audiences, it makes sense that the bulk of future investment will move into these areas. To take advantage of new global trends they're investing in flexible, agile solutions rather than new, larger locations.
Mid-market leaders recognise that with the incredible pace of change happening in our working environment, they need to invest to remain competitive. Our survey suggests they're focusing on the right areas.
Business investment at a glance – UK vs global
What our experts say...
“Coronavirus has drawn a line in the sand for business leaders in that they can no longer continue to be insulated from the ever-increasing rate of change and disruption going on around them. Organisations need to rethink how they operate with a focus on optimising for pace and agility. Agility is fast becoming a non-negotiable leadership skill and one that can deliver higher business performance year in and year out”
Helping you plan ahead
Managing today and planning for tomorrow is a balancing act. To grow, you need to be agile, embrace change and adapt.
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