A survey by local project and change management specialist Greenlight shows pressure on margins, and business growth are the most important issues for businesses in Jersey.
Over 23% of people surveyed cited pressure on margins, productivity, and the need to get more for less as the main issues affecting their business, while nearly 22% of people indicated business growth as the most significant issues for them.
The Change Management Summer Survey questioned over 100 people from the Jersey business community in July and August, asking them to rank 10 issues affecting their business in order of importance.
In a similar survey by Greenlight in February, 23% of respondents cited business growth as the most important issue affecting their business, while pressure on margins was the most important reason for less than 13% of people, behind management of risk (20%), and cloud computing and data security (17%).
The survey also shows that people are becoming more concerned about the future of the finance industry, with 13% of respondents placing this as a main issue for their business, compared to just 3% six months ago.
Eliot Lincoln, CEO Greenlight, said: “The findings of the survey are interesting in that they show the issues of concern to island businesses are no different to those facing businesses in developed economies all over the world. Businesses face many challenges, but business growth, and driving efficiency are areas businesses have control over and are tackling head-on.
“Driving efficiency into an organisation involves change. Efficiency can be perceived as purely a bottom line driver, pushing out cost – however reconfiguring a business to enable the lower value or repetitive work to be streamlined and automated can enable organisations to create new products and services and achieve significant top line growth too, but it takes time and energy which is where looking at external support can help. The role of a change consultant is to analyse a business and to help the business identify challenges and resolve them. Sometimes we are so busy working IN our business that we find it hard to find the time to work ON our business.”
Founded by Eliot Lincoln in 2008, Greenlight has grown to be the Channel Islands’ leading independent business change specialist, offering consultancy services across Jersey, Guernsey, and the UK.
Since its launch, Greenlight’s change managers have worked with over 70 clients on nearly 200 change programmes or projects, notably in the Finance, Digital, Telecommunications, Intellectual Property and Legal sectors.