A shaky economy combined with the anticipated volatility of an election year means the most certain prediction for the new year will be uncertainty. That said, based on the past year and current trends, below are two tactics that will set up every organization along the supply chain for success. 

The first is to craft a vision and plan to know where the organization is heading to accommodate unexpected changes throughout the year. A well-crafted, long-term vision provides the framework under which all parties should operate in order to reach a common goal. The goal will be unique to each organization, but the plan to achieve it will not. Regardless of your plan, it must be supported by your team members because they are the ultimate executors. From salespeople to customer service representatives to drivers who deliver exceptional service to customers, every stakeholder along the pipeline must include consideration of the human element. 

In an industry that is struggling to hire and retain workers with the right skills, this may sound like a worthy goal, but it must rely on more than hiring. Research from 2021 shows that the mobility industry’s and supply chain and logistics industry’s average attrition rates were 9% and 7%, respectively. Two years later, retention remains harder than recruiting. Competitive pay will bring employees in the door, but keeping them there is another matter. 

This is where culture comes into play. Just as a vision provides a framework to achieve company goals, culture is the framework for retention goals. Without it, the right people will not be in place to execute the company’s vision. 

Competitive pay and compensation packages are obvious for drivers who keep the supply chain moving. Marking regular milestones, such as every six months, with per-mile pay increases allows drivers to grow with the company. At the top of the list, though, is understanding drivers have more in their lives than the road. Being a family-oriented business, and working with team members to ensure they get home when they need to is critical. Work-life balance is important for everyone. 

The second component to success in 2024 is looking at external trends in the supply chain. What do partners, clients, and customers along the supply chain want to see? This year, sustainability tops the list. Multiple surveys show that a majority of American consumers say sustainability is important to them, and that they would pay more for a product with sustainable packaging. Environmental, social, and governance (ESG) efforts along the supply chain are necessary for sustainable end-products. 

Initial investments may be required to implement eco-friendly practices in the transportation link of the supply chain, such as energy-efficient vehicles and reusable packing materials. However, these choices can reinforce ESG initiatives and begin to reduce costs in the future. Sustainability will only grow more popular, and opting to adopt those practices sooner rather than later should be encouraged and rewarded to incentivize eco-friendly products and the responsible utilization of resources. 

With a vision and plan set and an eye toward trends, organizations are now positioned for the most critical aspect of success in 2024: adaptability. 

It is challenging to look further out than six months to see what the economy will look like and how the election may impact it. The market changes daily, and the only way to prepare for those changes is to respond to them as they happen. Fiscal responsibility is vital right now, but it is only made possible by adapting, changing, and growing at the same time. There is a balance between the current financial perspective and the need to take measured risks to continue to grow in the market. This includes other advancements and trends coming down the pike that we did not touch on, such as artificial intelligence (AI) and machine learning, that will require us to adopt entirely new practices to meet evolving expectations in warehousing, final-mile delivery, and more. 

We are energetic in our approach to 2024 – adaptability and nimble adjustments will be key, as well as setting teams up for success. These tactics, paired with an appropriate vision and strategy, will pave the way for success. 

Ryan McConnell is president and COO at Atlas Van Lines; Phil Wahl is president and COO at Atlas Logistics.