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The pandemic is here and it seems that it would be around for a long time ahead. Even as the world opens up after months of lockdowns, businesses have to embrace the new normal. Unless you are willing and able to realign, you cannot expect to make it through safely. There is a lot of emphasis on business resilience right now, for very obvious reasons. Ideally, you need a resilience plan that focuses on survival in the short term and growth in the long term. Here are some steps you need to take for realigning your existence and building resilience.
Don’t assume “back to normal”
While some organizations and niches are affected more by the pandemic, it is clear that none is spared. Very evidently, COVID-19 has changed facts on the ground and things will not be back to normal in the foreseeable future. You can expect demand to be lower than usual, while supply chain disruption will continue as well. Resilience is all about being prepared for the challenging circumstances characterized by lower demand, disrupted operations, and higher costs.
Gear up for a relaunch
A plan for the relaunch is vital to business resilience through the pandemic era. While you go ahead with relaunching your businesses, it would be wise to bear in mind the changed expectations, needs, and preferences of your customers. There will be new regulations as well, particularly for businesses that have International Shipping as a part of their operations. You will need to realign the product offers, services, and customer interactions for matching the changing environment. This will require some planning but it is all worthwhile to cut down your risk and relaunch the business successfully.
Restore trust for employees and customers
The next aspect of business resilience in the new world would be winning the trust of your employees and customers. With employees trusting the management, it becomes easier for organizations to get back on their feet. The same goes for customer trust as it brings them back to your business and gets you on track with sales. Go the extra mile to reassure the employees about workplace safety. Similarly, invest in best practices to ensure that the products, services, and delivery processes are safe enough for your customers.
Keep agility on priority
An agile approach supports business resilience. A business that is quick to respond to the changing circumstances has better chances of survival in the long run. While you realign operations, focus on flexibility and rapid response to change. Although this may be easier said than done in a dynamic situation, business leaders can play a key role when it comes to driving agility for their organizations.
Accelerate your digital transformation
It is clear that digital-first entities have coped better with the crisis, whether by adjusting to remote work models or moving over to online ordering to enable social distancing. Right now, digital transformation emerges as the best thing to do for businesses that want to stay relevant and ready for the pandemic era. By investing in the right technologies, you can expect to be more capable of facing the challenges that lie ahead.
Adjusting to the new norm remains critical for businesses that want to stay alive and kicking through the crisis. Here, it is vital to understand that the resilience you attain today shouldn’t be a one-time thing- rather you need to retain it for the future too.