Remote working is the new normal and when employees work remotely it’s more important than ever to provide them with effective feedback. Sometimes remote employees feel underappreciated and overlooked which damages their motivation to work hard. Many remote workers who are good performers either become disengaged or look for alternate opportunities because they do not get enough visibility. Also, the feeling of “out of sight, out of mind” among the remote employees leads to isolation and loneliness. To keep the virtual teams productive, as a manager, it’s important to stay connected with every team member, understand their needs and guide them the right way to help them align with the organizational goals. However, interactions are limited when teams work remotely and it’s often challenging for managers to provide effective feedback which clarifies expectations, builds confidence and encourages employees to perform better by learning from their mistakes.
In a bid to continue business operations amid these difficult times, employee training and development has taken a backseat in many organizations. The work culture has undergone a major shift with remote working becoming the new normal. Economic recession has forced many organizations to trim their budgets and employee training is no more a priority. Businesses are focusing more on productivity and customer acquisition and retention. However, training and development needs to be viewed as an investment rather than a cost, more so in these uncertain times. The COVID-19 crisis has adversely affected business operations in multiple ways and it is now that employees need to upskill themselves to keep up with the changes and be informed enough to innovate for better navigating the murky waters.
With employees still working remotely and organizations formulating new policies to accommodate the changes in the new normal, dealing with stress has become a new challenge for the professionals. The COVID-19 pandemic is still far from being over and continued social isolation is making people anxious, stressed out and fearful about their future. Coping with such intense emotions is continually becoming difficult on both personal and professional levels. While employers and managers are trying too hard to maintain the productivity and efficiency of their workforce, for many employees the boundary between personal and professional life is blurring, accompanied by the fear of losing their job. Although the trend of remote work was existent in many companies even before, the pandemic has led to its adoption in almost all industries. For those who are new to this culture, moving forward is becoming quite a daunting task, especially when the entire globe is in the clutches of uncertainty. The rising stress among professionals is evident and to help them relieve it here are a few useful strategies:
Resilience is one of the most important traits of successful teams. This stands true not only in the wake of current coronavirus crisis, but also otherwise as the road to success in business is always dotted with unprecedented challenges and setbacks. Team resilience is the ability of a group to respond to a disruption or change in a manner that doesn’t impair productivity or efficiency. These days the business landscape evolves quickly and employees are often faced with crippling workloads, changing priorities, workplace complexities, new trends, emerging competitions, organizational changes and much more. The stress and tension that rise consequently can result in missed business opportunities, dissatisfied clients and a toxic work environment, if not dealt in a proper manner. However, the good news is that as a leader you can build the resilience of your team so they are capable of coping with difficulties and challenges and delivering high performance consistently.
Remote work is the new normal and so are virtual meetings. However, brainstorming, collaborating and sharing ideas over virtual meetings may sometimes seem a little difficult and many people think these aren’t as productive as meeting together in the same physical space. Virtual meetings bring people together through a digital network or internet for achieving a common objective. Surely, there are certain barriers like technological challenges, distractions, disjointed meeting flows and low engagement. However, the good news is that if well organized, a virtual meeting can be just as effective as face to face meetings.
The consumer needs and preferences have hugely changed due to the COVID-19 pandemic and the most important trait that businesses need today to remain operational and growing is digital savviness. The impact of social distancing recommendations to prevent the spread of virus has been pronounced and the world turned to digital tools to continue living a somewhat normal life. Companies have accelerated their digital transformation initiatives and are now rethinking their business models and operational strategies not just to survive but also to stay ahead of the competition. While we are still uncertain when the pandemic will be over, the digitalization is increasingly taking the centre stage in the global business dynamics. Now the focus is not just on embracing the enabling technologies but using them in new and improved ways to build digital capabilities and ensure operational efficiency amid the most unprecedented changes.
People all across the globe are struggling to adjust to the sudden changes that the COVID-19 pandemic has brought to the world. The changes have been so drastic that many businesses are still finding it hard to cope with the unprecedented scenarios followed by the economic recession. However, the path of entrepreneurship is always dotted with uncertainties and crisis and those who can turn the difficulties into advantages are the ones that succeed in the long run. The environment all around is quite tricky and terrifying and many businesses are facing enormous losses. Keeping the company afloat is the prime concern for entrepreneurs today. But it’s during these difficult times, companies can spot great opportunities and implement some valuable changes in their organization that would not only help them survive the crisis but also emerge stronger from it.
The COVID-19 crisis has drastically impacted the business world on multiple levels, leading to operational disruptions, job losses and many more unpleasant scenarios. Numerous industries all across the globe have suffered a severe dip in demand and liquidity shortages, and many businesses had to permanently shut down their operations. The majority of workforce began working remotely and the companies witnessed a colossal workplace transformation overnight. With the pandemic still continuing, the firms are now reinventing their efforts to adjust to a “new normal”. The modes of communication and work have hugely changed and ‘business as usual’ has now an entirely new definition. The economic recession and the concerns of public health are further adding to the challenges. Undoubtedly, it’s one of the most difficult times and with the changed conditions, the businesses need to rethink their strategies to attain their former glory in the market. The HR department has a key role to play in this. Aspects like managing business continuity, implementing organizational changes, supporting workforce and talent management require heightened focus now. To help the organizations adjust to the new normal, HR teams are now re-evaluating their policies and best practices for informed decision making and helping the organizations recover.
Building a strong brand is essential for business success. Often business owners think that having a great product and offering excellent services are enough to carve out a niche in the market. Unfortunately, in today’s business scape that is often not the case. One of the key factors of success these days is building and maintaining an impactful brand. Brand building isn’t just about the right placement of advertisements; it is more about shaping the customers’ perception of your business. Effective branding strategies comprise consistent and strategic efforts to create awareness and a long-lasting image of your company in the marketplace.
Your company’s competitive advantage is best defined by answering the question “what makes your company better from your competition?” It could be a unique range of products and services that your company offers or just a spin on the way they are offered which makes customers prefer your company over others. Knowing your competitive advantage is extremely crucial so you can strategically place your organization ahead of others. For this you need to analyze the strengths and weaknesses of your competitors and understand how your company can bridge the gaps to improve the system. Another important aspect is understanding your target customers and building strategy to attract them towards your products and services. Successful companies focus much on making their offerings unique to create an advantage that is sustainable over time and helps them outperform their competitors. Many organizations, however, misidentify their competitive advantage and focus on the unimportant factors, which eventually leads to their decline in the market. Correctly identifying and clearly defining your competitive advantage is essential to better develop strategies that support company growth.