Before 2020, a movement was brewing within organizations towards working from home due to the advancement of digital technology. People have asked, “Do we really need to be together, in an office, to do our work?” Well, we got our answer during the pandemic lockdown. We learned that a great many of people do not need to be in the same space to work effectively. Now, we face new challenges, especially in our commercial janitorial industry.
Work at home has created less spaces to service. Thus, expansion and revenue growth has become a real challenge for most companies that service buildings. Without question, the virtual working model offers notable benefits to companies and their employees. Organizations are reducing and eliminating real estate costs which in turn eliminates janitorial needs. Given this challenge, the cleaning industry will face a downturn as many businesses will cut back on cleaning services because of lack of need. In addition, fulfillment houses are springing up all over the place offering attractive rates and making it very difficult to source and attract good talents.
As CEO of Transcend, my focus on human capital has helped us weather the storm, because it is my deep conviction that the most significant resource in our company is human capital. As the economy steadily rebounds, we will be well positioned to leverage the opportunities for growth. However, a steadily growing economy will create more competition. This will focus our competitive juice to pay deeper attention to our weaknesses and threats so that we can take full advantage of the market opportunities.
Our leadership team is focused on attracting as many new partners as possible, meeting the needs of our existing partners by paying prompt attention to their needs and concerns, and doing everything possible to keep our employees engaged and motivated. The development of our leadership team is paramount for strategic sustainability. The more trust we build, the more the possibility to increase the value we deliver to our clients.
Written by: Spencer Moore, President & CEO of Transcend Facility Management Company