Returning to Work in the New Normal
“If work is something that we do, and not somewhere that we go, then that means we shouldn’t have the need to go somewhere to get the things we need, in order to do what we do” 1
This is what work will look like for a lot of us going forward.
Are you and your business ready for the New Normal? Here are 5 things to consider as you and your team return to work in the new normal:
1. Keep Working from Home
2. More Online Client Engagement
3. Using New Financial Models
4. Out with the Old Business Plan, In with the New
5. Plan for the Next Crisis Now
Keep Working from Home
One of the fastest resolutions was to go work from home. Working from home is not a new thing for some companies, in fact, it has created an industry of its own. But it’s looking like working from home is no longer a perk that your company offers but rather a necessity everyone must get used to.
But how can you ensure productivity when everyone is working from home? According to Accenture, companies must develop a change of management plan, including leadership communications that encourage employees to adopt key technologies that will facilitate connections to their team members and leaders in this new environment, internal meetings and even large-scale external events.
More Online Client Engagement
Perhaps the trickiest aspect of the virtual workplace will be how companies engage with their clients and prospects. Today clients are more accessible online, which presents the opportunity to collaborate with them more closely. Zoom, WhatsApp, Google Sheets and Basecamps are great tools to keep in touch on multiple platforms. This is not necessarily to push for work, but rather to engage in an advisory capacity; share knowledge as much as possible and stand with them in solidarity.
Using New Financial Models
Aside from the hard numbers relating to sales, profits and cash flow, consider other ways in which your business has been affected. For example, if you’ve had to lay off some or all of your employees, you’ll need to factor that into your rebuilding plan. If you’ve cut your advertising and marketing budget down, or some of your customers have migrated toward competitors, then those are things you’ll need to account for as you identify financial resources to help you recover.
Out with the Old Business Plan, In with the New
When going over your business plan and business model, get clear on your business’s strengths and weaknesses. Then, look at what was working before that may not work as well now and see where you can adjust or improve to remain competitive. In addition, don’t forget to revisit your business goals to make sure they’re realistic, given the current circumstances.
When looking at your competitors and the industry as a whole, pay attention to the trends and focus on finding the opportunities. Being able to find a gap or need that your business can fulfill that’s been neglected up until now could be critical to reclaiming and expanding your customer base going forward.
Plan for the Next Crisis Now
The pandemic also may have taught you a thing or two about how important it is to be able to adapt and keep your business fluid so you can reasonably weather storms. For example, if your employees didn’t have the option to work remotely before, that’s something you may want to incorporate in your business model going forward.
For instance, building up liquid cash savings may be a priority for your business if you had little or nothing set aside before the COVID-19 outbreak began. You may choose to focus on paying down your debt and trimming nonessential spending to keep your budget in check. Or you may need to find ways to help your staff work more efficiently to cut operating costs.
Even if things were to rebound 100%, you can’t live through something like this and not remember it. Consumers have every reason to be cautious now and for the foreseeable future. For business owners, the clock is ticking on planning success in the new normal. The sooner you recognize the changes needed in your business, the quicker you will be able to navigate your recovery.
1 https://newsinfo.inquirer.net/1265835/house-execs-define-new-normal-in-newly-filed-bill
If you liked this post, check out the video version here:
Daniel Meyer heads both Sonic Analytics and Sonic Virtual Staffing, sister companies that deliver both data analytics solutions and virtual staffing to businesses in the United States and the Philippines. With over 20 years in Big Data and Virtual Staffing, Dan is one of the most sought-after public speakers in Asia and offers big data coaching and analytics training seminars on both sides of the Pacific.
Sonic Analytics(www.sonicanalytics.com) brings big data analytics solutions like business intelligence, business dashboards and data storytelling to small and medium sized organizations looking to enhance their data-driven decision-making capabilities.
Sonic Virtual Staffing (www.sonicva.com) brings virtual staffing solutions like graphic design, social media management, bookkeeping and specialized virtual assistants for authors and professional speakers to small and medium sized organizations looking to scale on a budget and looking for 24/7 staffing options.
When not training current and future analysts, you can find Dan championing the use of analytics to empower data-driven citizenship by volunteering his expertise with schools and non-profits dedicated to evidence-based social progress.
