What does the journey towards becoming endemic and co-existing with the virus look like?
At the start, countries start to relax border controls and encourage the restart of travel, especially commercial travel. They remove obstacles around duration of quarantine and simplify reporting, to make it comfortable for businesses to send their teams to key markets. Countries demonstrate they are open for business by organising and hosting large-format events. The country’s outlook becomes external and focused on providing support to the economy by encouraging businesses to restart their engines.
Governments and businesses have learnt much about their customers throughout the pandemic. Leaders and executives have witnessed changes in their customers. Behaviour changes driven by automation, the internet of things, the increasing blurring of boundaries between online and offline worlds, have been accelerated by pandemic restrictions. Customers have become comfortable with instant access, on-demand requirements and carry higher expectations of a 24/7 culture of availability.
Planning for resiliency of the organisation
The pandemic has caused massive shocks to many organisation’s capacity for fulfilment. However, many organisations continue to focus on the near, and short-term, assuming that business operations will continue to be smooth.
To be future proof, organisations have to understand the interplay between possible future scenarios, the impact to the ecosystem and the implications for the organisation.
McKinsey points out that “catastrophic events will grow more frequent but less predictable”. The company suggests ‘true resilience’ with a balanced focus on six dimensions: financials, operations, technology, organisation, reputation, and business model. To achieve an optimal outcome, organisations have to understand how to add-on, trade-off and bake-in approaches that will increase their resiliency during normal times and prepare them for disruptions.
Planning for an effective and efficient workforce
Organisations have not been spared the pace associated with recent changes. Depending on the data source, the workforce is experiencing a “great” resignation or attrition. Employees have adapted to remote work despite associated challenges and are demanding remote or hybrid or flexible work structures.
According to the Microsoft 2021 Work Trend Index, 41 percent of the workforce is considering leaving their employer. 73 percent are asking for flexible work options to persuade them to stay.
Willis Watson Towers points out in a recent article about leadership that leaders can drive change around reinforcing the correlation between purpose and profit. They opine that “purpose-driven organisations are well positioned to attract investors, keep and engage employees and customers, and stay true to business principles”.
In a nod to our earlier points about resiliency, the article also shares that providing the workforce with flexible pay, work, benefits and skills development can “…result in significant competitive advantage over less flexible peers in terms of pivoting operations when necessary…”.
Planning for inclusive and diversified cultures
Singapore has always been a strong advocate for culture and gender diversity. In 2019, Mr Baey Yam Keng, Senior Parliamentary Secretary for Culture, Community and Youth & Transport, shared at the Singapore Human Resources Institute Future of Work Forum, “…no matter how we cut it, research has shown that well-managed diverse teams outperform homogeneous ones as they tend to be more creative and effective at problem solving. Crossover of skills during the process of collaboration will also raise the overall organisational capabilities''.
However, McKinsey has shared research pointing out that the pandemic might negatively impact years of advancement in supporting a diverse workforce, particularly women and people of colour, who are employed in sectors impacted by the pandemic. This would deal disadvantages around both diversity and resiliency to the affected organisations.
Perhaps we can take some inspiration from IBM.
In a recent note, Nickle LaMoreaux, Chief Human Resources Officer shared a few points. She said instead of asking “Where do we work?”, instead we should ask “How do we design a future of work that is diverse and inclusive?”
IBM is looking to combine the best of pre-pandemic models and the best of virtual approaches used during the pandemic. One part is in the adoption of a data-driven approach to choose our locations, and to redesign their offices into collaborative workspaces.
When and how often an IBMer goes into the office will be based upon work deliverables. IBM will be looking at “…crafting flexible schedules that focus on employee outcomes, instead of activities, not only serves key business objectives but also enables a more diverse workforce”.
Most interestingly of all, IBM will be expanding globally their hiring policy that prioritises skills over degrees. In explaining this step, Ms. LaMoreaux explained that the requirement of a bachelor’s degree can unnecessarily limit the pool of available and diverse talent. They have therefore eliminated the bachelor’s degree qualification from job postings where it is not necessary to perform the role.
It is not enough to have a plan, and not action upon it
The role and scope of leaders and executives has only gotten tougher in the last two years. Uncertainty, landscape changes, challenging policies around technology and labour continue to create challenges.
However, these environments are where leaders are forged. Those that make the shifts well, will succeed and raise their organisations, teams and people with them.
Honest conversations and meaningful actions around resiliency, evolving workforce requirements, that are tied to inclusivity and diversity are necessary steps to succeed as we progress through 2022.
