Learnings from COVID-19
As our world continues to evolve under the influence of COVID-19, I have identified a range of new trends and changes that will stay with us for the long term.
The flexibility of work - remote working will change. The onus will shift to the employer to explain why flexibility cannot be achieved within a role, vs being seen as accommodate it. If it has previously been achieved, then companies don't offer this option, you will lose the war on talent.
Connecting remotely will be embraced as part of business as usual, minimising travel needs and building connections with remote based customers, team members and suppliers. The need to be able to build rapport remotely will be a necessary skill into the future.
Use of technology - keeping people informed and communicating effectively by taking advantage of technology will become the norm. If you are not embracing it as part of how you do business, you will be left behind. Companies not using technology will need to provide alternate modes of delivery to meet customer needs and will lose out as the market moves.
Being nimble - the ability to respond and move quickly is being clearly demonstrated, as businesses innovate and make things possible that would have been thought impossible a month ago. This attribute will need to be incorporated into every business’ DNA. Leaders that can think and act in an agile manner will be in high demand.
Crisis management - investment in a crisis management plan, contingency planning and understanding business risks, both financial and non-financial, will increase. Small businesses with no skill in this area will need to get expert advice externally.
Changing financial priorities - companies will review their debt levels and release cashflow as the uncertainty in the economic market continues into the future, putting a lot of investments on hold.
Leadership – will continue to be a critical skill as businesses face ongoing uncertainty. There is a critical need to create clarity and security for teams so productivity doesn't drop.
What have you already learned? What lessons have you put into your business already?