In the context of the business world, what exactly is durability? One article published by Medium suggests: “One interesting mental exercise is to think of a business that will be offering the same product or service 50 years from now.” In other words, it’s essentially about a company’s staying power or resilience.
Therefore, business durability obviously has an especially relevant place at a time when the pandemic has put many companies under financial strain. So, how could you rebuild now for the post-COVID future?
Make remote working a permanent option
According to one survey conducted by the research firm Gartner, 74% of businesses plan to let at least 5% of their previously on-site employees permanently work remotely after the pandemic. One simple reason for this: the financial benefits this arrangement would enable.
As the pandemic is likely to fade only gradually, you should – at least for the foreseeable future – endeavor to be flexible in order to accommodate your employees’ work-from-home requirements.
Upgrade your company’s tech
When the pandemic struck, it was a nasty shock for many businesses to discover that much of their existing technology wasn’t quite up to the task of effectively handling the “new normal”.
However, it’s certainly not too late for you to replace and refresh your existing corporate tech for the pandemic age if you haven’t already. To that end, you could implement a zero trust cloud security solution to give your remote employees secure access to applications on which they will rely for their work.
Place a strong focus on employee wellbeing
A number of eye-opening figures about employee wellbeing have been revealed by National Alliance on Mental Illness (NAMI) and Center for Disease Control (CDC) studies highlighted in a Forbes article.
These figures include that, each year, a fifth of US adults experience mental illness, while depression is estimated to yearly cause 200 million lost workdays – at an annual cost of somewhere between $17 billion and $44 billion to employers. You should conduct mental health check-ins for your employees.
Don’t just keep communication channels open; proactively use them, too
Naturally, it’s not as easy to keep in touch with employees when you can no longer regularly bump into them in the regular office. Yes, your business could still be facing difficulties as a result of the pandemic – but you should keep your workers in the loop about how you are tackling these issues.
Those workers should include any you have furloughed, too. After all, it will probably only be a matter of time before they rejoin your workplace community.
Invest in developing managers, not just junior workers
Those workers relatively low down the ladder probably represent your company’s future – but who will be preparing those workers for that future? That’s right – the managers above them.
Hence, you should make sure those managers are trained in a wide range of skills relevant to their day-to-day work. These skills should include conflict resolution, crisis management, effective communication and keeping employees engaged and motivated – not to mention, of course, coaching skills.