As my business continues to feel the impact of COVID-19, how can I prepare my organization for success after COVID-19 – even if we face a second wave?
Although there are national and state-wide efforts to re-open the economy and relax restrictions, businesses and employees continue to feel the effects of COVID-19. According to a study conducted by McKinsey & Company, “the challenge is especially acute for small businesses (those with 500 or fewer employees), which account for a disproportionate share of the vulnerable jobs.” McKinsey & Company emphasized this point further by highlighting the current vulnerable state of these businesses, as they account for 54 percent (30 million) of the jobs most vulnerable during COVID-19.
While many U.S. businesses have re-opened, a large proportion of them remains at half-capacity, employing fewer people, and/or maintaining a mix of on-site and remote workers. Those businesses are also seeing a decline in business and feeling the impacts of customers and suppliers hit harder by the pandemic. This has required leaders to make adjustments to their operations in order to survive in this “recovery” period but wondering whether it’s temporary or the “new norm.” Either way, many leaders are wondering how to prepare their organization for after COVID-19.
The Centers for Disease Control (CDC) offers immediate guidance for employers in helping to maintain healthy operations which include reviewing workspaces, promoting safe hygiene, revising sick and leave policies, and minimizing the number of employees in the workplace to prevent further spread of the virus.
To best prepare your business for future success after (or during) COVID-19, senior leaders and HR professionals should gather key stakeholders together to conduct a post-COVID-19 Organizational Assessment to identify where their organization stands now and what changes are needed for the future. A multitude of issues should be reviewed, some of which include:
- Pipeline of work & future forecasting
- Reviewing work practices for efficiency and cost-effectiveness
- Reviewing and re-aligning talent
- Succession planning
- Review talent attraction activities
The ultimate goal of a Post-COVID-19 Organizational Assessment is to answer two questions: how do we pivot to succeed while in recovery mode, and how do we prepare should we find ourselves in another crisis in the future?
This is an all-encompassing effort to assess the health and stability of your business. It’s going to require collaboration, out-of-the-box thinking, considering new ways of operating, and taking a critical look at your entire business – your finances, your people, your supply chain, your operations, and your customers.
This a key opportunity to empower your HR team members and leaders, and to engage outside, unbiased professionals. This allows you to harness a diverse set of perspectives and expertise to benefit your business – for today and tomorrow.
Thanks to Terry Salo, Sr. HR Consultant with strategic HR inc. for contributing to this week’s HR Question of the Week!
Whatever your business may be facing, strategic HR inc. can help! Whether it’s by developing a Post-COVID-19 Assessment, developing a comprehensive strategic business plan through our HR Strategy services, or helping you navigate COVID-19 employee relation issues, our team of experienced consultants is waiting to partner with you.