What Successful Businesses did During COVID-19
Living in a post-lockdown world has changed the way businesses work compared to pre-COVID-19 times. This change requires companies to look at their practices and alter them to fit a new work style and keep up with the ever-changing work trends.
Success leaves clues; here are the top five things successful businesses did during recent times to ensure they’re still running today;
2020 and 2021 highlighted that the most successful organisations caught the early warning signs of disruption – and they set up practices to handle it. When companies moved into remote work during lockdowns, they quickly adapted to new technologies and working models. The most apparent distinction for adaptability was how quickly they could adjust. Since lockdowns, 75 per cent of employees have reported using at least two new technologies to help them work better.
A silver lining to this sudden digitalisation of most companies is the new opportunities for growth within organisations. A survey done by McKinsey shows that we jumped five years forward with our technology in eight weeks. Using new technology that’s widely available for all organisations is the best way to adapt to the new working world.
Flexibility and responsiveness are two fundamental values for being a leader. Companies can talk about transformation and change – but not all of them can fully embrace this change. When organisations put transformation in their annual reports, around only 50 per cent of them actually undertake major programs with outcomes that change their practices. Of these organisations, only 25 per cent have an Executive whose role includes some form of transformation portfolio. This is a crucial step towards transforming flexible and responsive workplaces for whatever comes their way. Learning to work with change is the only way to continue moving forward.
Now more than ever, organisations have many opportunities to try new things that will help them become more successful in the long run. Investing in new building solutions, utilising existing experience and planning for a new workspace is the best way to take charge of these opportunities.
This shift in how we work has exposed the true potential so many companies have in front of them—showcasing what else they can offer to their clients and customers to expand their business. Companies should use any slowdown in work as time to upskill existing workers to perform at the highest level possible. This saves money and time (not shopping around for new talent) and increases employee engagement within your company.
After 2020, many organisations moved to remote working models – there was a shift in productivity to be measured by output not hours. The most successful companies changed their productivity measures to match the new remote working style. With all the stress of now working in a different environment, employees did not have to worry about keeping the exact expectations as they adjusted.
Productivity is much harder to measure with remote employees – especially without being able to see what they are doing at every moment of the day. This means that productivity reports had to change to fit in with the ebb and flow of this new way of working.
For many employees, working from home was a huge culture shock. Being used to office space flow is very different from working within your own home. This meant that companies had to understand that change is inevitable and rise to the challenge of altering business models to suit this new way of working.
Working how to engage employees from remote working spaces, track progress, handle new stressors in employees’ lives, and adequately support these changes are all things companies had to work on to fit into the new working world. If companies did not alter their working practices or employee support, it was easier for employees to switch out of that job and into another.
Change and transformation are inevitable. You have control over how you will move forward and adapt. Look at our new campaign, “Make Change Work For You”. You can keep updated on current workplace trends by signing up for our newsletter here.