As the global pandemic deepens and the human cost of Covid19 rises, the novel coronavirus is sending shocks through the world economy. Across industries, organisatons are now taking action to protect their employees, customers and also minimize the economic damage. I wonder if that’s the case for all organisations.
The covid19 crisis has created a moment of truth for every company. Leaders are asking themselves the important questions. Are the choices we have made reflecting our culture and values that define us? Many organisations are having to rapidly adjust their way of working. It’s forcing a digitalization that many companies had spoken about but had not acted upon and now having to implement at breakneck speed.
There’s a difference between technically ready and being culturally ready for this new world. During this time of change the workforce needs to shift how it works and company cultures will come under strain. You may have individuals and teams working from home for the very first time. Travel restrictions have gutted the ability to accomplish certain tasks.
While company’s initial focus will be to maintain customer relationship and ensure business continuity in this ‘new world’, it also becomes critical to consider the impact of your employees and your organizational culture. Team collaboration, morale support and the ability of executive teams to pivot, and quickly have seemingly never been more paramount.
Can organisations be emphathetic, compassionate, accommodating, flexible and provide a sound technological infrastructure for employees suddenly removed from their physical offices? Can managers adjust to their now distributed teams and accommodate employees dealing with extenuating issues like home schooling and potential city or province quarantines/ lockdowns?
This is the moment of truth where employees will get to experience their organisatonal culture at first hand. The onus is on leadership of each organization to take measures to support employees into working in a way many wouldn’t choose. Organisations will need to function in time of high anxiety and will needs to adjust promptly. It is now time to practice what most organisations have been preaching. Leadership will have to start to manage virtual teams.
Here are some tips for managing virtual teams
• Set ground rules for working from home
• Clearly communicate work expectations
• Use cloud storages to ensure access to information and documents
• Daily check ins on team members
• Weekly team meetings using video calling tools
• Hold team members accountable
Is your company culture ready for this crisis?
South African organisations find themselves in a war for talent and competing for a shrinking pool of talented workforce. Strategic planning for any business needs to ensure that there is sufficient talent workforce to meet the future business demands. What is also imminent in the ever-changing economy is the retirement of skilled workforce and high staff turnover. People change jobs all the time. It is for this reason why a planned strategic succession planning is imperative.
In today’s aggressive market it is important for organisations to take steps in attracting, developing and retaining of critical employees. There is a perception that succession planning costs a lot more for organisations, however organisations need to come up with creative ways for implementing succession planning. I still believe the cost of implementing strategic succession planning is better than the cost suffered when having none.
Imagine what would happen in an organisation that has no strategic succession planning in place should a CEO/ CFO or any position deemed critical decides to submit a resignation letter? This can create unnecessary panic amongst employees, customers and suppliers and over and above this would mean that a recruitment of a new CEO/CFO would need to be underway. It may take up to 6 months to find a suitable best fitted CEO and recruitment of such critical position costs a lot of money too.
What does strategic succession planning mean for organisation:
Key benefits of strategic succession planning:
Mike Jackson (68), CEO of AutoNation was quoted by Automotive News saying “We have a very robust, professional succession plan in process which the board and I worked on together”. This is after the COO Bill Berman’s abrupt resignation. The question is, does your organisation have succession planning in place should a critical skill resign?