The clock is ticking. We now have a countdown to leaving the European Union at the end of 2020. It doesn’t give us much time to plan and prepare. In fact, we don’t even know what to plan and prepare for. For all the wrangling and discussions, the Withdrawal Agreement only gives us a vague outline of what may face us when we finally wave goodbye.
We need to plan for change—whatever that may look like. To plan effectively, companies need to run through potential scenarios to uncover how it will affect them. For a whole generation of leaders, there is no greater scenario to plan for than this. Getting Brexit right will stand a leader in good stead for any given scenario in the future.
Change is opportunity. Get it right and you’ll set your company up for years of successful business in the new EU and the rest of the world. Get it wrong, and it will take decades to get back on the right track.
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Say for example you are the CEO of a UK-born and bred manufacturer. You export extensively to Europe and beyond, and a third of your staff come from the EU. What are you going to do in the next 12 months? How are you going to prepare for the final Brexit bell tolling?
There are a whole host of issues you need to factor in before the year is out, and figuring out where to even start is the biggest challenge of all.
Prepare your talent pipeline
Your first priority should be to shore up your talent base. What is going to happen with foreign workers after we leave the EU is still not certain. If we happen to go for an Australia-style system, based on skills and earnings, many of your foreign workers face an uncertain future.
In this situation, you need to look at where the skills gaps may appear. Who is at risk of leaving your company if push comes to shove? In this scenario, it also pays to look at alternative ways of working. Can you set up a sub-office based on the continent? What is your capability for remote and flexible working? Can some of your staff operate remotely—still doing the skilled jobs they’re trained for without needing to be permanently based at head office?
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Moreover, adopting a talent strategy that looks at the skills of the future, rather than like for like replacements of those who may leave, is critical. For example, the financial planner of tomorrow is more than just a numbers guru who uses data and analytics: they are driven by technology to predict what might happen at an organizational and personal level, to inform the entire business’ strategy. This is an opportunity to future-proof your workforce.
All of this does more than just help your business continue on the right path. It also creates a better path for the future. A connected talent pool also increases diversity of hiring—regardless of geography—which is becoming increasingly important. HR leaders should use predictive workforce planning to ensure teams are ready for whatever challenges Brexit may bring, including thinking ahead as to what roles the business may need down the line—preparing for the skills of the future. This, along with the push for remote working, means that getting the right technology in place soon is absolutely critical.
Plan your production line
Moving on from talent, it’s time to think about the five Ps:Proper Planning Prevents Poor Performance. For manufacturers, every component has a place on the assembly line. Every piece, however small, is as vital as the next. Any disruption to ‘just in time’ delivery schedules could play havoc with your production.
In this situation, we can explore the concept of digital twinning. We can twin all manner of things, from business administration to production and supply chains. It gives companies the ability to figure out what to do if parts don’t arrive in time or if you need to tweak a production line to eliminate a bottleneck. Having alternative supply routes and partners in place is a vital part of the procedure. This is the new age of scenario planning and going through the contingencies for failure, using technology as our guide.
At this stage, we can also look at alternative technologies, such as predictive planning. This includes simulation tools and artificial intelligence to help enhance production processes. Manufacturers can gain valuable insights into their complex operations with computer modelling, to help improve, optimise and innovate operations ahead of the big Brexit changeover.
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Suss out your supply chain
Brexit is going to mess with your supply chain. Border delays and paperwork can lead to critical production holdups. The final step is starting the conversation with suppliers now to see what the cross-border implications may be, and looking at your warehousing and distribution policy.
For many, a centralised warehousing policy may seem outdated and inefficient. Is it worth looking at alternative distribution models, where your goods are stored closer to your customer centres? Brexit is an obvious opportunity to explore different options.
AI and predictive analytics can help analyse, make sense of and predict customer buying patterns. This means you can keep up with the drive for personalised products, without sacrificing near real-time supply and mass customization. Giving yourself this visibility in times of such uncertainty will be the reassurance you need that the business can keep moving.
While somewhat marred by hype, there may be an opportunity to use blockchain to deliver proof of provenance and a fool-proof track and trace system. Even better than just operating your supply chain seamlessly, is now the time to begin ensuring a truly ethical supply chain by securing the traceability of supply chain parts and products?
Blessing in disguise
All these scenarios are possibilities that have been thrown up by Brexit. Frankly, they may not have been brought into the light otherwise—so one day we may have Brexit to thank for the future of British business. Before talent, supply and demand, and supply chains, having the right Brexit planning teams and leaders in place is the first crucial step.
The one thing we know for certain is the timeline. The rest is still shrouded in mystery. But get it right now, and you can transform your business for the better. Get it wrong and it could be more than just the EU we’re waving goodbye to. The most overblown business phrase of all—Carpe Diem—springs to mind, but the clock really is ticking. We don’t have a day to delay.
