Some Quick Tips for Global Employers Adapt to Current Global Economy & Covid-19
The recent pandemic has changed the global workforce. The business shutdowns and disruptions of economic activities across the world have led to huge losses. Countries have started easing some of the COVID-19 lockdowns and restrictions, but it will take a lot of time to get back to usual business operations for most companies. The current scenario demands that businesses adapt to the new normal and start functioning with utmost caution. With the birth of the ‘new normal’, it is difficult to predict when things would get better for the world economy. But at some point we will get back to the new normal and expats will start to be posted abroad by corporations and NGOs in greater numbers. Individual expats & consultants will also be working abroad as well.
Most companies have implemented work form strategy to ensure businesses operate as usual. On the other hand, companies that were not proactive in changing their operational processes struggled to cope with the new norm. Entrepreneurs will have to assess whether they should return to the old ways of doing things or embrace new techniques for business success. In this article, we will explore how five best ways businesses can adapt to the new normal.
1. Try Experimenting with Business Processes
Across the globe, COVID-19 restrictions were implemented on short notice. At best, companies hardly got 72 hours to come up with strategies to survive through the pandemic. Solutions and processes that worked fine for all these years may not be useful in going forward. As an entrepreneur, you may have to take some drastic or strict measures to improve your business processes.
You can also get creative and try experimenting with new strategies if you see any room from improvement. Initially, your experimentation may not be a huge success; however, it is worth trying out new ways to adapt to the new normal. Please communicate with your employees during this crucial period and make them feel important by getting them involved in process changes.
2. Plan Ways to Get Employees Back to Work Gradually
Because of the lockdown and other restrictions, most of your employees are probably working from home. If you could adapt to the remote working of your employees, think about the best possible approach before you encourage them to return to the office. Global companies around the world have adopted work from home options and have been proven successful. If the work from home solution worked during the last few months, you could consider offering flexible work hours to your staff so that social distancing is maintained. Furthermore, if you want employees to come back to the office, you must ensure strict safety and hygiene is maintained. In order to reduce the number of employees in your office, you can split them into groups and allow them to come on alternate days.
3. Practice the Motto – Employees First
As you continue reviewing and optimizing your business processes, listen to what your teams and customers have to say. Feedback from both these groups will help you develop strategies that would be best for your business. Taking customers’ feedback is essential; however, at this juncture, listening to your workforce is even more imperative. Put your employees first, and create a framework that suits them before tweaking it to suit the needs or demands of your customers. Both the parties will ultimately accept your new style of operation or the new normal. Remember that you have a duty of care to your expat employees.
4. Let Your Teams Feel Connected
The success of remote workforce management depends on maintaining a sense of togetherness within your organization. Teams leads and managers should consistently ensure their team is productive together. If remote working is a fundamental part of your new routine, get your teams empowered with various means of communication. Skype video calls can be a great option to connect with your employees. Of course, there would be a few distractions while using these communication tools. However, if your teams are happy and productive, it is a win-win situation for everyone.
5. Explore New Ideas
LinkedIn and other social media platforms are flooding with information on how industries deal with pandemic across the world. This is a period when every business will have to adapt and get innovative with their strategies. Your company may already be going through tremendous changes. However, it is not a bad strategy to seek and explore new ideas that would benefit your business. Look for advice from senior members of your organization, or encourage your staff you come up with suggestions. You never know, you may get a brilliant business development idea from your newest employee.
Bonus Tip: Help employees cope with stress
Another tip for businesses to adapt to the new normal is to provide necessary help for their employees to cope with stress. The pandemic has definitely taken a toll on many people. Some parents might have to take care of their children while working from home, while others might be expats worrying about their family who are in a different country. In order to ensure productivity throughout the company, employers should provide support for employees who are anxious, scared, or confused during this pandemic. Share information from reliable sources and ensure they have access to therapists if needed.
The hazardous impact of Covid-19 will continue to haunt businesses of all sizes, but we can’t sit and wait for a change in fortune. The effect of the ‘new order’ may hopefully help enterprises to survive the destructive shockwaves caused by the pandemic. Organizations can come out of the stormy waters by resorting to some of the best practices employed by top companies during COVID-19. We should also note that companies sending expat employees abroad should make sure that international health plans fully cover COVID-19 related conditions and complications. Global health insurance is probably the biggest concern for most expatriate employees on overseas assignments. We should also note that global employers should make sure that the international health insurance coverage that has been put in place fully covers COVID-19.