An Uninvited Guest.
That’s what COVID-19 has been to the whole world, hitting the reset button of a fast-moving global business ecosystem. Enterprises around the world took a short pause, reacted to the turbulence, and have been outmaneuvering the uncertainties. Business imperatives have changed – few trends that were conceived to be critical have moved aback and few other new ones have taken the front seat.
Several organizations are on a constant quest to explore newer ways of doing things without compromising on the outcomes. However, one question that remains unanswered is – When will this end?
Industry analyst and noteworthy speaker, Josh Bersin in his recent article had elucidated that the new normal that this black swan event has created will make ‘change’, a continuous process. He comments:
“The new normal is that things are not going to settle down. Not only are we experiencing a global Black Swan event, we are in a time when everything (the virus, our politics, our legal system, our culture) is changing. And it is going to continue to change in new and unpredictable ways.
Yes, there are a lot of clear directions. We have a new focus on flexible work, empathetic leadership, support for employees and families, and workplace hygiene and safety. But under the covers of these broad topics, there are hundreds of reinventions going on. Companies are dramatically changing how they hire and move people internally. They’re radically reskilling leaders. They’re pouring money into learning and development. And they’re totally rethinking their diversity, inclusion, and citizenship programs.”
Bersin believes that we are in a new era of empathy – for employees, families, neighbors, and society. He opines that in our attempt to think about what to do next, we need to think ‘people first’.
Furthermore, through his recently launched ‘The Big Reset Report’, he elucidates on the strategic priorities that organizations need to keep in mind in their course of springing back to action. These priorities include:
– Continuous and real-time communication with employees
– Digital Transformation at speed
– Agile problem solving without agile methodologies
– Massive consumption of learning
– Multi-functional HR
– Improved pay and benefits
The report further discusses several other focus areas and trends that companies around the world have adopted and found to be working now. You can access the full report here.
The business landscape post-COVID-19 is different from how it was. There is enough evidence for that. Likewise, there is social proof that this is not a dead-end. Companies are poised to rebound, trying to cope up with the chaos. Now, here’s an opportunity for you to witness seasoned minds from the global HR space coming together to share their experiential insights and set the agenda for 2021 and beyond.
Watch on-demand videos where renowned HR leaders discuss how the global compliance function is changing as emerging technologies create a revolutionary impact.