In an era of historic economic uncertainty, surpassing even the 2008 financial crisis and the pandemic’s onset, business leaders face an impossible balancing act: fuel growth while resources shrink.
According to the Economic Policy Uncertainty Index, today’s business uncertainty has reached historic peaks. But this isn’t just another economic downturn requiring standard belt-tightening measures.
Our recent panel discussion brought together three Centric Consulting experts to share battle-tested strategies for navigating current challenges and how to make smart, strategic decisions about technology, security and workforce investments.
Representing the three pillars where strategic balance matters most — technology, security and people — were:
- Joe Hartsel, Vice President of Technology Solutions, drew from over 25 years of experience helping organizations align technology investments with business outcomes
- Shane O’Donnell, Vice President of Cybersecurity Practice, brought two decades of experience guiding companies through evolving security and compliance landscapes across industries, from manufacturing to healthcare
- Hilary Lee, National People and Change Practice Lead, brought 20-plus years of expertise in workforce transformation and organizational change management
Going Beyond Cost Management
Drawing on real-world experience, the trio discussed how successful organizations are beyond reactive cost management to proactive strategic positioning to strengthen their competitive position rather than simply reducing expenses.
Hartsel highlighted that many organizations use only 20 percent of their existing software capabilities, suggesting companies make optimization opportunities before pursuing new technology investments.
O’Donnell shared that cybersecurity cuts often backfire, with companies losing business due to compliance failures or suffering public breaches after delaying critical security initiatives.
“Even if you’ve forbidden your employees from using AI, they’re still using it in some form or fashion, so you need to find a way for them to use it safely and effectively,” he said.
While technology and security investments get a lot of attention, Lee shared that overlooking workforce strategy can be equally costly.
She said that with “the average cost of replacing an individual contributor layers between $75,000 to $100,000 from an employer perspective,” organizational leaders can’t make their people strategy an afterthought.
Key Insights
By watching this on-demand session, you’ll gain insights on:
- Technology investments that deliver growth: Make smart decisions about AI and automation while optimizing existing software licensing and cloud infrastructure spending
- Workforce strategies that scale with change: Build organizational “change muscle” and align people strategy with technology investments to ensure adoption success
- Security approaches that maximize budget impact: Focus on non-negotiable cybersecurity fundamentals like identity management and endpoint protection while using external expertise
- Application and licensing optimization: Conduct thorough inventories of existing capabilities before investing in new solutions, since most organizations don’t use their current software fully
- Shadow IT management: Control unauthorized technology spending while enabling safe AI adoption through proper governance and policy frameworks
Ready to master the balancing act?
