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NewsDay

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Surviving, thriving in post-COVID-19 era

Opinion & Analysis
By Emmanuel Zvada The past two years have proven that the world can change in a short space of time. The COVID-19 pandemic has caused many disruptions, recovering and resetting, so that we can thrive, is what matters most. We have witnessed events that have been previously unseen altogether: lockdowns of entire cities, panic in […]

By Emmanuel Zvada

The past two years have proven that the world can change in a short space of time. The COVID-19 pandemic has caused many disruptions, recovering and resetting, so that we can thrive, is what matters most.

We have witnessed events that have been previously unseen altogether: lockdowns of entire cities, panic in the financial markets, loss of jobs, lack of hospital beds and an ensuing economic crisis. Business leaders need to take a leap of faith by reimagining the future, re-planning their strategies and adopting an entrepreneurial mindset for recovery.

Navigating the COVID-19 pandemic and its aftermath will be one of the biggest business challenges of our time. Now that restrictions are being eased in many countries, many organisations are making plans to bring their workforce back to the office, though it’s going to be difficult.

Bringing your workforce back to the office is no small task especially when there was a new culture of working from home. Despite uncertainty, reopening of businesses has already begun. In reopening, organisations need to reinvent themselves for a new era of business.

Resetting and recovery mode

We have all changed the way we operate in the COVID-19 crisis. Some changes were forced on us, others represent the height of innovation in a crisis. There has been a reset of the workforce and work itself, a reset of the employer/employee relationship and a reset of the business ecosystem.

As we shift from response to recovery, the key for senior leaders is to make strategic decisions that will lead them to a renewed future. This crisis has created an opportunity for organisations to reset some of their goals and ambitions as they recover from the COVID-19 crisis.

Now is the right time to bring together your executive team and use the lessons learnt during COVID-19 to reconfigure your business and operating models for a new reality.

Time to digitalise some operations

Digital adoption has taken a quantum leap at both the organisational and industry levels. The COVID-19 crisis has brought about change in the way companies in all sectors and regions do business. This crisis has presented the information technology industry with an opportunity to empower businesses with technology as seen during the lockdown where many innovations, digital platforms have been invented.

Organisations need to be making informed and faster decisions, focusing on automation, real-time risk assessment and mitigation, continuous value delivery and agile strategy making. And they need to be doing it now as this is already the new normal.

There will be no “return to normal”

Coronavirus has, to some extent, shaped the way we live and work. Some of the behaviours developed in crisis including wide-scale digital adoption will outlast the pandemic. COVID-19 is leading employers to prioritise the mental health and wellbeing of their employees in new ways. Companies can thrive by adopting a positive approach to employee wellbeing, both in and out of work. Wellbeing is now an integral part of the relationship between employer and employee. The fundamental aspect of caring about your people, wanting them to live happier and healthier makes sense not only to the individual, but also for the business performance especially post-COVID-19 pandemic.

Sustainable business continuity

Business continuity is probably more relevant now than ever, as we face a drawn-out relaxation of the lockdown with disruption and instability potentially lasting years for some organisations.

It is crucial that we learn from the pandemic if we want to improve our future readiness, and no impending crisis is as serious as climate change. Business continuity planning is a component of building business resilience in normal times and is especially critical in cases of large disasters.

For businesses to survive and thrive, they must be able to adapt their operations to the new environment. COVID-19 is not an average business disruption, it is actually an unheard-of situation, hence continuity measures should be embraced.

Workplace adaptability and flexibility

Flexibility should be the cornerstone of workforce transformation as organisations use this time to reset and reinvent. Building a new model of flexibility that can last beyond the pandemic requires an examination of people, processes and infrastructure.

This type of workforce and workplace transformation requires employers and employees to be creative about how to provide flexibility around work and how different jobs can flex. It is advisable that companies adopt flex time, thereby allowing employees to leave early one day and make up for the time another day or adjusting working hours.

Reskilling and upskilling your workforce

As employees return to the new normal, employers face tough choices regarding shortcomings in skills and knowledge that were exposed by the forced telecommuting following the pandemic shutdown. Talent upskilling in organisations should be viewed as an investment. Without upskilling, the skills gap may continue to be a challenge in the long term.

Upskilling is a worthwhile investment for more reasons than just higher engagement and proficiency in many organisations. The most successful companies don’t recruit leaders, they grow their own.

It’s time to get creative and utilise online marketing

The COVID-19 crisis is affecting consumer behaviour and thus organisations should adopt new marketing strategies.

We should all keep in mind that successful marketing post pandemic requires brands to have a clear promotional messaging, at the same time being sensitive to the current reality.

Customers may be struggling financially, battling anxiety about venturing out their homes, and entertaining very high expectations from businesses. Do all you can to keep a pulse on customer sentiment: Ask for reviews, run polls on social channels, follow up on all feedback to demonstrate your commitment to customer satisfaction, and analyse the data for trends and patterns.

Cost optimisation and capital efficiency

Flexible, low-cost operating models pay off in good times and especially in uncertain times. To navigate uncertainty, leaders must focus on present challenges without losing sight of the future.

Many efficiency programmes focus on reducing short-term expenditures by cutting costs, deferring projects, and cutting discretionary spending. While such measures are useful, they are difficult to sustain in the long term, they simply maintain the status quo, and don’t create an operational gain or performance readiness when the crisis is over. To adapt during these uncertain and changing times, insurers need to prioritise agility and efficiency to optimise their capital allocation.

As the world emerges from the current pandemic, the world of work will make some fundamental shifts, and organisations should embrace them as they are the new normal. The pandemic will fundamentally reshape how we do business from now on and we need to embrace the new normal. In order to survive and thrive post-COVID-19, business leaders need to use fresh strategic framing and create organisational structures that promote agility.

  •  Emmanuel Zvada is an award-winning Most Fabulous Global HR Practitioner 2020, HR disrupter and trusted coach. He writes here in his personal capacity.