The problems facing business right now are very different from what has been previously faced by many of us in a lifetime.
The pandemic not only put the global economy into disarray, the need to control how the virus spreads have had impacted worker morale and presence, customer needs and so on.
But, your business does not need to collapse when it comes up against these challenges. So here is how to make your business more resilient.
Reshape work culture
We always want to maintain the status quo and this means maintaining the work culture.
But to make your business more resilient in the face of adversity, begin by revisiting what informs the company culture: mission, values, vision. Reevaluate and see if they are fit to move the company forward in the ongoing circumstances. If not, begin to work on adjusting and changing them, and get everyone on board so that you all change together.
The COVID-19 pandemic is leading to such cultural changes in work places.
Lead with empathy
Leadership affects the company culture and as a business leader, you want your company to be resilient through people working together.
To create this environment, then lead with compassion and empathy. Listen to your employees’ complaints and contributions. Always remain aware of the fact that the challenge has negatively affected your employees as it has affected you and everyone else. Thus, be more empathetic with their concerns. Make them feel more supported and in turn, they will value you and give their all to the company in hard times.
Collaborate
While stability will often see companies be fierce rivals in their industry if you want your business to be more resilient, be open to collaboration.
Resilience concerns the relationship between the business and its changing context under stress. During stress, you will need to build systems thinking and systemic solutions. This means, thinking of how to build collaborations between employees, customers, stakeholders and even other businesses. In times of need, we all need each other.
Look beyond performance
Many businesses are not performing optimally, or at least, as they were before 2020. In isolation, this could be looked at as a sign of failing business health, but that is not it.
Rather than focus on performance alone in measuring your business health, look at flexibility and adaptability, all of which are a great pointer of your business continuing despite the setbacks. If your business has been highly adaptable and flexible during the COVID crisis, this means it still had higher chances of remaining relevant and growing in the future.
Resilience means being able to look out for ever-emerging challenges and adapting to them, even if profits or sales dip a while.
Check out more articles.
