COVID-19 was a rapid and unexpected challenge to businesses around the world. As a result of the pandemic, we were forced to adapt to new ways of living and working. Some organizations have been more successful than others in keeping their businesses thriving. What sets them apart?
They found a compromise — a happy middle — between letting go of old ways and keeping the same mission, vision, and goals. This allowed them to withstand the rapid changes.
In other words, they’re resilient.
Management consulting film McKinsey and Company’s website describes resilience as “the ability of a business to withstand, adapt, and thrive in the face of shocks that are internal and external, as well as known and unanticipated.”
Because of the unique challenges that the pandemic presents, it is important to understand what it is and set precautionary measures that will prepare your organization for all the changes it continues to bring.
To be resilient, you have to understand your organization’s position in terms of business continuity and crisis management and how they affect or protect your staff, vendors, supply chain, and IT operations and infrastructure.
The severe disruptions to businesses, consumers, and governments brought about by the pandemic have made people rethink the way they do business. Aside from preparation, being resilient also requires a little bit of openness to change.
What can you and your company do to maintain resilience and come out of the pandemic stronger than ever?
What is unique about the COVID-19 pandemic is that there is almost no way of telling when things will get back to normal. There is also the possibility that the world as we knew it will never be the same once the pandemic does end. This is why leaders should put emphasis on sustainability.
Any efforts to create temporary solutions will only backfire, especially if the pandemic goes on for much longer, resulting in permanent changes to market operations.
Assess the current strategies that you have in place and identify which of them would count as "Band-Aid solutions" or frail workarounds that are bound to break in the long run. Instead of these, find realistic, sustainable solutions that will work in the long term.
Review your company’s internal policies, including health benefits, health and safety policies, leaves and sick pay systems, as well as travel policies. These should be communicated well to your employees so they are aware of what they should do if they feel sick or if they need to travel.
They must be aware of all updates, travel bans, sick leaves, remote work or work-from-home setup guidelines, emergency and sick leaves, and salary adjustments or coverage in case of absences. Be ready to apply flexibility in your policies especially when deploying people into different areas of business.
Put a focus on survival and continuity of your operations.
Simple as it may sound, companies still need careful consideration when implementing remote work or work-from-home strategies.
Some of the key questions they can ask themselves prior to implementation are:
4. Embracing digital platforms
As with 9/11, the 2008 recession, and any crisis in history, the purchasing behaviors of customers during the COVID-19 pandemic are bound to change.
In these socially distant times, they will most probably expect that there will be digital applications that will aid them in their daily activities such as working, shopping, and even consulting with their doctors. In fact,
, usage of telemedicine and web conferencing apps have grown to 613% and 500% respectively.
Now more than ever, digital platforms have become critical in transforming entire business models and operations. This includes creating digital products and services in order to become more efficient and to create customer value.
Digital platforms do not only reduce information search costs, but also provide businesses with marketing, finance, and networking opportunities.
Be resilient with BizScale’s remote working solutions. Talk to us by completing this form, emailing sales@bizscale.com, calling 833-722-5310, or booking time on Calendly. Take your business to the next level today.
Sources
