With the global pandemic disrupting business activities globally, business leaders and entrepreneurs are reminded of the importance of preparing for the unforeseen. One unexpected change can interrupt operations and destroy calculated business plans. When all else fails, business resilience is key.
The International Organization for Standardization (ISO) defines business or organizational resilience as “the ability of an organization to absorb and adapt in a changing environment to enable it to deliver its objectives and to survive and prosper”. Nowadays, organizations have been refocusing their goals and shifting their focus to much more feasible business processes to ensure stability amidst the uncertainties. Truly, for a business to survive, leaders must be able to quickly grasp the situation and build resilience.
The following are some tips and actions on how to bounce forward, reshape the plan, and anticipate challenges for a more resilient business:
People Matter
The employees are always the lifeblood and main asset of your organization. Without them, any endeavor or project within the company will cease to exist. Thus, it is reasonable to prioritize them and ensure their safety and wellbeing. This will keep all of them motivated and engaged to ascertain business continuity. Provide the necessary adjustment, tools, and equipment for the remote employees and provide safety measures for those who report on site. Make sure lines are open for them to express their thoughts and opinions about the policies and processes.
Upskill and Reskill Your Workforce
For a company to survive and thrive in the new normal, it is important to upskill and reskill the workforce. Upskilling is the process of teaching employees new skills to improve their current roles, while reskilling means teaching them a new set of skills to prepare them to take on a different role. Building a culture of continuous learning and professional development in your company is important in building resilience. It will not only build your employees’ morale but also ensure that processes within your organization are carried out by competent individuals.
Thus, business leaders need to identify the skills essential for their business and work on a long-term strategic workforce plan as soon as possible. Investing in online learning and training programs is a crucial part of strengthening your business. Choose a credible and experienced training institution that can train your employees in various aspects such as communication and presentation skills, digital skills, leadership development, productivity, and technology.
Reimagine Customer Experience
People have different needs and wants these days. Sticking to traditional ways of interacting with customers may not be helpful especially nowadays. Companies need to better know their consumers’ behaviors so they can implement projects and campaigns that will drive loyalty and long-term profits.
Rededicate Core Leadership Values
The initiative must always come from the leaders to be emulated by the people under them. Employees need inspiration and direction, especially at the time of crisis, therefore it is crucial for leaders to invest first in their own development. For the business or company to be resilient, a leader must be able to recognize and understand the vulnerabilities of the organization.
Communicate Effectively
During the most challenging times, it is necessary for any organization to foster clear, transparent, timely, and relevant communication to recover and regain the trust and confidence of the stakeholders. Businesses must continue to build their reputation and strengthen their relationships, so it is crucial and necessary to maintain communication pathways clear between the company and its stakeholders. Keep customers and employees informed of any plans and impact on product and service delivery so they will always be updated.
The pandemic may have taken its toll on businesses, but it also presented an opportunity for organizations to review their plans and implement ways to boost business resilience. Now is the time to adapt new ways, reinvent processes and invest your people’s learning and development. Your business’ ability to adapt to a changing environment is key in thriving in the new normal.
One of the pioneers of e-learning in the country is Informatics Philippines. Through its internationally recognized online schooling technologies, Informatics offers subscription-based online courses that are accessible whenever and wherever convenient. It features online training courses in areas of business, digital transformation, leadership development, productivity, collaboration, and technology development. It provides thousands of short courses and customizable programs based on business needs and student profiles.
Know more about the school’s online corporate programs at www.informatics.edu.ph
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