The recent pandemic has hit the world hard and it is slowly changing the way we see things. Subconsciously, we are more driven to adopt a solution-oriented approach in our education, businesses and healthcare. The changes in how businesses are done and the shift in work culture are expected to be more flexible, more futuristic. The strategies a company can follow to remain in the game even after dealing with a pandemic might just be a new era where technology and business become complementary to each other.
Standard operating practice will be elevated to a new level
Many of the changes companies will make in the short term are obvious; dramatically reduced travel, more work-from-home opportunities for white-collar workers, and changes in business operations to reduce human contact. Improving the workplace will surely be a priority for businesses as well. In the past, companies have used the lessons learned during periods of disruption to improve their standard operating practices. For example, the great recession forced employers to revisit their staffing models. The result was a permanent shift in the ratio of part-time workers to full-time workers across the economy. COVID-19 may yield similar changes.
Organizations will develop trust-based cultures with employees
The coronavirus challenge demands an organization-wide, honest conversation that enables truthto speak to power about the corporate response to the challenge. This could be a new strategic initiative facing huge execution challenges. These require senior management to get the best information they can about barriers to execution, and it requires trust and commitment.
"The coronavirus challenge, like any crisis, provides senior management a huge opportunity to develop a trust-based culture rapidly or, conversely, if not handled with an organization-wide honest conversation, to undermine their ability to develop a trust-based culture for years to come." Says Michael Beer, co-founder and director of TruePoint Partners and a Professor in Harvard Business School.