2023 is set to be a challenging year for many companies, as a new study recently published by the human resources consultancy Aurum Interim confirms. Around 140 restructuring experts were consulted for this survey which was carried out in fall 2022. A large majority of the respondents (97 percent) see the energy crisis as one of the key factors behind the urgent need for restructuring. This is followed by supply chain disruptions (92 percent), scarcity of raw materials (85 percent) and inflation (84 percent).
This goes to show that the current situation is multifaceted, which also means a high level of complexity for impending corporate restructuring projects. Eight out of ten survey participants concurred with this view. And in 98 percent of restructuring scenarios, multiple business divisions or even the entire company is affected.
Moreover, the picture is as follows in terms of the various measures which are implemented within the scope of restructuring projects: The survey indicates that, in 89 percent of cases, restructuring focuses on the organizational structure and processes of the business in question. A redesign of its supply chain production system is the second most frequently pursued approach (87 percent), followed by purchasing (82 percent). Warehousing & logistics, streamlining structures, removing hierarchies and the introduction of new work tools are additional aspects.
Digitalization is Promoting Resilience and Sustainable Growth
The latter aspect in particular reveals another interesting result. Two thirds of those surveyed are convinced that businesses with a high level of digitalization are better placed to get through crises than companies which rely on analogue technology. In our view, it is therefore all the more important for companies to proactively move forward with their process of digital transformation – even if they may not currently see any urgent need for the required change.
After all, digitalization can not only make a significant contribution when it comes to boosting a company’s level of efficiency. It is also a core prerequisite in order to safeguard its competitiveness. If a company makes active progress here and does not shy away from implementing a digital transformation on a step-by-step basis, then it will thus lay the foundations for sustainable growth. Apart from the companies themselves, this will ultimately benefit the entire German economy.
Detailed information on this study can be found in a Springer Professional article.