The Post Pandemic Business Scenario is very challenging. The future is full of uncertainties and challenges, which every individual, every organization is facing now because of this global pandemic. The entire world is in lockdown, facing the worst situation in many decades. The marketplace is crashing; the job market has already fallen. Small businesses are struggling to cope with these situations. The entire way of doing things is going to change because nobody knows how the future is going to unfold.
Everyone is facing some sort of challenges and difficulties, I would like to write a few action points which will help you to run your business in the right direction and help you to cope with these problematic situations. The pandemic situation may end with a scientific breakthrough or go on to continue like this for some more months. But in both ways, the after-effects of the pandemic are going to be huge in all areas.
Governments are taking various measures to revive the economy, but the after effect of the pandemic will haunt them for some more time. Big organizations will lose a big chunk of profits, but small organizations will struggle and have a threat of losing their existence. Here, I would like to suggest a few things we can do to cope with these situations. These action measures should help small businesses and entrepreneurs.
Post Pandemic Business Scenario: Standard Operating Procedures
The new normal is different, and everyone needs to adjust to the new way of doing things. Simple mistakes can change the entire situation and will have a negative impact on business.The old way of doing things won’t work in these challenging times. Every organization, an establishment needs new processes to operate business differently. Every organization has Standard Operating Procedures. Well, those SOPs will not be very helpful in the post-pandemic situation. I suggest the organizations formulate the new SOPs, keeping in mind all the aspects of current scenarios.
The SOPs must include the following additional processes,
- General precautionary measures to prevent COVID-19
- Guidelines to the employees to take necessary precautions.
- New systems to implement in the organization. (To implement SOPs)
- The process of handling the customers
- The process of office management and operations
These new processes are very critical in making all stakeholders of the organization safe and comfortable in doing their day-to-day activities with the organization. It will give a clear path about how to go and how to handle the various situations which we might face in the operations. When formulating the SOPs, keeping in mind all the future scenarios is necessary, and it should give complete clarity on how to handle various situations. The SOPs should be in detail, and when employees have finished reading the SOPs, they must not have any more doubts left in their minds. New systems should be in place to implement new SOPs, which will cost the organization, but it is necessary.
Policies and Procedures
The policies and procedures are the fundamental aspects of any organization. It sets general guidelines for all the activities in the organization. The post-pandemic situation needs new policies and systems in place. And sometimes we need to re-engineer the existing policies and procedures. Such as,
- Personal safety policy
- Employment policies to be revised as per the current requirements.
- Compensation and benefit policy
- Travel policy
- Office Management Policy
- Health, Safety and Security Policy
- Training and Development Policies
The Policymakers have to rework these policies to make them more relevant to the current scenarios, and Management should communicate the new policies with the team to give clarity on new ways of doing things.
Optimum Utilization of Resources
It’s essential to know your resources well in advance, before stepping into operations and formulating your strategies and goals—the resources in terms of Manpower, Finances, Merchandises, and other Assets should be evaluated carefully. And the need to make necessary decisions about reallocating the resources and using them at the optimum level. The organization should make a list of all the resources available at its disposal and should design strategies and goals around it. A closer look at the liabilities is also very much necessary, and we should take decisions on eliminating the unnecessary costs.
Strategies and Goals
The strategy and goals which are prepared for the entire financial year are not relevant in this current scenario. The pandemic situation made the marketplace unpredictable. For some organizations, it’s about degrowth, for others it’s about survival in the market. The strategy should be tweaked as per the current situations and upcoming challenges. Predicting the future is difficult, but getting an accurate prediction is a requirement that organizations can prepare for the same. When designing the strategies, keeping in mind all the organizational aspects and challenges and resources is very critical.
The goals for the future are difficult to set. The organization may need to change the goals multiple times. Instead of establishing long – term goals, there have to be short – term goals, and short – term milestones have to be created. So that the organization can modify it as per the situation unfolds. As you all know, while setting a goal, see that it is specific, measurable, achievable, relevant, and time – bound.
Team Management
The organization is all about people. People are the greatest assets for every organization. In these pandemic situations, there is uncertainty everywhere. It’s the responsibility of the organization to give assurance about their job security, health, and safety. The organization should communicate the measures taken in the organization to make the work environment safe and secure.
The organization should also engage employees in their skill development and other learning activities and keep them occupied. Training and development is an effective method to keep employees engaged. Energy and enthusiasm play a very vital role in achieving results.All employees need to be energetic to fulfill the goals of the organization. Training will help employees to be high in energy.
The commitment of the team towards high productivity, results, and achieving organizational goals is the foremost requirement at this time. The organization should explain to its employees about the current challenges’ organization is facing and what it is the organization is expecting from them. Realigning a team to new strategies, goals, and milestones and driving the result is the primary role of every leader in the organization. The transparency in sharing the current situation with the team will help in boosting team morale and working towards achieving the organizational goals.
Ensuring all team members are putting their best efforts into achieving the organizational goals is very much necessary. For that, a robust monitoring and review system is a must. The organization should make sure there is no room for mediocre performance and low productivity. All leaders in the organization take the responsibility of getting the best results from their team.
Positioning and Brand
It’s important to know how your brand occupies the minds of the customers and how it is distinguished from the products of the competitors. Your positioning in the market is a difference-maker at this critical juncture. Why should customers choose you instead of others is the right question to ask. Is it that you are fast, cheap, quality, user-friendly, or your customer service. Understanding your target customers and positioning has to be done all over again. And creating new marketing strategies will help you to gain new customers.
Continuous Development Mode
Open to learning and readiness to change is a very critical attitude every leader should have in this situation. Nobody knows about tomorrow, and it’s difficult to model the business practices from others or experiences. Every day looking for new challenges, facing them and resolving them makes you go to the next level. Take your mistakes as a learning experience and change according to the situation and work for growth. Keeping in mind worst-case scenarios will help you to prepare for the worst. Don’t stick to a single way of doing things and be open to other possibilities and opportunities. Learn every day, be in Beta mode.
Mutual Co-operations
Asking for help is not a sign of weakness. It’s a requirement of the current situation. In this challenging time, organizations are working to the competencies of their people. There is a chance of losing if you don’t have the necessary competencies to handle some situations. Being in contact with industry leaders and experts, and connecting with them and sharing thoughts and processes with each other will help everyone to overcome the challenges together. Overcoming this situation is possible through collective efforts and mutual cooperation.
Positive Mindset
Keeping a positive thinking in these challenging times is a difficult thing to do for everyone, but leaders staying positive is very important, because there are people who are looking up to them; business is struggling, uncertainty about the future, degrowth in the financials, and for some, survival itself is the challenge. But keeping a positive mindset and attitude will help you to see the situation in a new light and solve the problems. Developing a “We can do it” attitude in the organization and motivating the team to achieve the goals are the primary roles of the leader. Speak to your team regularly and tell them, “we can do it,” and always convey positive messages to your team. Every problem has a solution. Focus on the opportunities in every challenge. Remember, success is all about overcoming challenges or difficulties. Love your challenges.
Massive Actions
In the end, only actions can bring results. Massive efforts will deliver massive results. Never settle for mediocrity. Extensive measures at all levels are very much necessary, and it will bring amazing results to the organization. Making your team adopt this mindset, and driving the results will be the primary responsibility of every leader in the organization. Ten times more actions will bring you more than a hundred percent results., In no time, your business will be growth. Adopt ‘whatever it takes’ mindset and push everyone towards their best productivity. You will see the changes, and you will see success.
This is the time when we need to be the best in ourselves. This pandemic situation will pass, but the after-effects will be there for many more months and years. These eight actions will help you to straighten out your business and grow steadily. But in the end, the people who are going make the difference, and their actions are the difference makers. So all leaders should drive their team to get maximum results at the same time, and appreciate their commitment and output. The new normal demands new ways of doing things, welcome it with open arms and embrace change.
Suggested Reads:
Preparing Your Business for a Post-Pandemic World
Seven key actions business can take to mitigate the effects of COVID-19
-Aneesh P.V
