As we move into 2021 and yet another lockdown, the future of mass transportation has never looked so uncertain; not just in terms of long-term viability, but in terms of the vast uncertainty of what the future of mass transportation may look like. Because of this, transport operators are continuing to focus their activity on what they need to do to adapt their operating models to ensure they are future-fit and in a shape to take advantage of the opportunities that will inevitably present themselves in an ever-changing landscape.
Since the first lockdown in March 2020, the transport sector as a whole has been forced to significantly overhaul its operations in order to adapt and financially survive plummeting passenger numbers, whilst at the same time meeting their responsibilities to public health. Even during the summer months, when some return to ‘normality’ was permitted, passenger numbers remained depressed, with confidence in the safety of public transport depressingly low.
Many of our clients have come to realise that what 2020 showed them was that in most cases, the standard funding models for transport companies are broken, based on an over reliance on ticket revenues to cover operating costs. With the implications of Covid’s impact on the way we work and socialise yet to be understood, it is nonetheless likely that we have witnessed a significant shift and the impact on operators’ finances are in all likelihood here to stay. 12 months ago much of the way we work, socialise and engage with others would have been unthinkable – as would the fact that the market value of Zoom, the video conferencing software is now the same as that of the top 15 airlines in the world!
As we come back from our Christmas breaks to the most restrictive lockdown yet, the continued uncertainty around the future of how we work and travel is having a big impact on plans and future investment at both a Government and company level. Because of this we continue to see our transport clients focus on four big areas:
- Better understanding the capabilities within their businesses through structured leadership assessment programmes;
- Operations in a pandemic;
- Funding in the long and short term, which continues to be impacted by Government decisions, and the fluid and unpredictable nature of the pandemic because of the impact these have on passengers numbers, which fluctuated significantly throughout 2020 and will continue to do so in 2021;
- Post COVID-19 investment - what areas should be invested in and when?
- Future proof the business - by helping them to better understand the capability of their teams through the creation of success profiles (what good looks like), the assessment of individuals against these and the creation of individual development plans to help raise the calibre of individuals, teams and the business as a whole.
- Gaps in capability - we are supporting our clients to understand the talent landscape through candidate intelligence projects to give them the evidence they need to make informed people decisions.
- Change and transformation - providing our clients with experienced Interim Managers and independent consultants to help with the creation and delivery of change strategies.
- Strategy development - through the completion of business intelligence projects we are helping our clients to better understand how other companies and sectors became market leading in specific areas, such as digital transformation from a customer experience. They are then using this information to support in the creation of their business strategies.