Happy New 2022
Jon Morris
Partner, Private Equity Value Creation, Cash, Working Capital and Business Resilience – EY-Parthenon
If last year seemed like Groundhog Day at times, 2022 is already feeling like it promises more hope. Not least because the dreaded festive lockdown never happened, making our celebrations with family and friends even more special. For us, 16 Morrises met under one roof for the first time in 2 years - that's a lot of Lateral Flow Tests and even more cheese.
Sunnier times ahead?
This time last year, all we could look forward to was a staycation, but horizons are clearly broadening, with flight bookings up 400% so far this month. In fact, my friend and colleague Taylor Dewar reminded me that last Saturday will probably turn out to be the biggest holiday booking day of the year. If the Morris family are anything to go by, he will be right! But few will be as ambitious as Japanese billionaire Yusaku Maezawa, who intends to follow up last year’s trip into space by heading to the deepest place on earth in 2022 – the Mariana Trench under the Pacific Ocean. Now that’s just showing off!
Holiday upgrade
Talking of holidays, I am delighted to see our work with luxury travel operator Scott Dunn brought to life in an exciting case study, Helping a travel business to survive and thrive during a pandemic. Better still – like our ground-breaking work for British Steel – the story will be widely shared as part of an exciting new campaign taking in major publications including the FT and The Economist.
Begin the vegan
Back to new year resolutions, it’s great to see so many colleagues hit the ground running. Not least colleague Rob Doepel, who announced his bold intention to go both vegan and booze-free in January. That's a noble ambition, but you do realise that’s THIRTY ONE WHOLE DAYS don’t you, Rob?
Doing it for the kids
But, as ever, Rob is onto something here. Looking beyond narrow preoccupations to consider wider impacts is set to be a big theme in 2022. Activewear company Patagonia has pledged every cent it made during a record black Friday to saving the planet. Estate agent Savills reports that 19% of property industry lending is now green loans. And even the kids are doing their bit, with hit CBBC show Hey Duggee getting a special visit from national green treasure, Sir David Attenborough.... It's not fair, I want to join Duggee’s gang and get a Green Planet Badge too!?
Le Grand Benoit
Also busy on the blogging front, colleague and EY consulting leader Benoit Laclau posted a corking new year read about the value of those who gain in-house industry experience before returning to a consulting role. He even draws on his French heritage to coin a new phrase for it, Le Grand Retour. Hmmmm...with blogs as good as this, I think I may need to up my game!
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Transformation is on the to do list
All this new year optimism needs to be tempered by the reality that many companies and the people who work for them have had a very tough time indeed. And the rapid changes that lie ahead – from sustainability and new technology to changing customer expectations – mean that those challenges will not let up. For that reason, transformation remains firmly on the agenda... something I am personally hugely committed to this January as I pull on my running shoes yet again!
The floating city
At least in one respect, 2021 may be hard to follow. EY reported last week that 2021 was the biggest year for IPOs since 2007, with 121 businesses floated in the City, raising over £16bn in capital. With a plethora of challenges ahead - from inflation and global tensions to new Covid variants – it will be interesting to see if capital markets can build on last year’s performance.
January sales
It’s nearly time for the virtual doors of our annual Christmas Trading Webcast to swing open. Sign up here to join the live event on 19 Jan and I promise you that there will be absolutely no need to keep the receipt – you’re in for a treat as we unpack what the new year holds for the sector.
And finally
While it’s great to be excited about the future and impatient to get started, it’s always good to have a sense of perspective. So, among our festive groans about supply chain shortages and delayed home deliveries, bear in mind the story that emerged this week about a piece of mail sent by US Army sergeant John Gonsalves during WWII. It finally arrived at its Pittsburgh destination last month – 76 years late! (where could it possibly have been...?)
Here’s wishing (both of my!) readers a safe, happy and purposeful new year.
More of my 'so-last-year' musings can be found here.
Nose2Tail
2 年Another great read
Internal Communications and Engagement Associate Director - Global EY.ai
2 年Happy New Year Jon!
EY, UK & Ireland Managing Partner, Consulting
2 年Thanks for the mention Jon and a great and entertaining post once again.
Global Advisory Leader | Cornhill Walbrook LP | Harvard Exec Program MBA, LLB | BSc Mathematics & Computing Science
2 年Jon Morris as always an entertaining read re Benoit Laclau French phrase "le grand retour", I remember being in China and the government called it "returning sea turtles", one Firm called it " returning Alumni" but the worst was a Firm who used a very bad tyre analogy and called them "Re-Treads" ....arargh!!