2021 is poised to be a year of regrowth and redesign. As we forge ahead through COVID recovery, leaders are charged with being focused on the evolving demands of today, while maintaining a mindset of innovation and growth. Effective leaders must have the awareness and discipline to toggle between a Zoomed In and Zoomed Out perspective to draw important conclusions to drive current and future results.
Zoom In – Zoom Out – A leadership framework for today’s focus and tomorrow’s innovation
The Zoom In – Zoom Out approach comes from Rosabeth Kanter and the Harvard Business Review. Research demonstrates that most leaders are pre-wired to be either zoomed in or out. These tendencies can cause for ineffective organizational change management. Striking the right balance of a Zoomed In and Zoomed Out focus is a skilled discipline. Both perspectives should be vantage points, not fixed positions. A honed zooming skill creates a lens for leaders to view the world to help their ability to promote good strategic decision making, especially during crises.
Financial implications - What lenders value now and in the future
With today’s challenging financial reality, providers have the opportunity to seek bank lending with interest rates at a 10 year low of .6%. Taking advantage of low interest rates could be a bridge to future growth as COVID positivity rates decrease. Lenders want to know the specifics of current COVID cases, vaccination rates and means to withstand the demands of the pandemic, such as infection control and COVID mitigation strategies.
As COVID cases decrease and consumer confidence starts to improve, increased census and operating margins will follow. As we start to see this improvement, do not lose sight of other financial levers that you can Zoom In on today. This includes having PPP loan applications in place for loan forgiveness and being poised for PPP2 loans and employee retention tax credits.
Optimizing accurate reimbursement to promote margin management