How to Build a Resilient Business Amidst the COVID-19 Pandemic
We are all more than aware that COVID-19 has all but put the world at a standstill. We don’t need to tell you that the pandemic continues to disrupt the global economy – local and international businesses are on lockdown. Australian companies are forced to suspend services and scale back their local workforce. While this is an unprecedented change to business, it is also a challenge to future proof your business in the event of a large-scale disruption to mitigate any losses and risks. Here are our insights on how you can build a resilient business in times of crises.
Prepare for a remote work arrangement
Create a work from home policy that outlines the specific circumstances when it is permitted. Under this policy, you should have clear guidelines and a process on how to enable your workforce to continue to work from home. Make sure that each of your staff has the necessary access to technology at home to complete their work and collaborate with their colleagues when needed.
Data security must be maintained to the utmost. You may place extra restrictions where possible, such as gated access to protect your company’s intellectual property.
Put your agility into practice
The future seems uncertain and you must be ready to respond to the changes as they come in the coming weeks and months. As a business owner, you need to adapt and pivot when potential problems arise– government and business restrictions, your staff’s health, extended quarantine period, etc. Be prepared to implement new strategies with your team to let them know how you are all working around the challenges together.
Communication is key to running a successful remote team, particularly during this COVID-19 pandemic. Hold daily standup meetings with your team to check-in and to make sure they’re safe, healthy, and are technologically supported to fulfill their tasks. Having daily meetings can ease anxiety, provide a sense of normalcy and a temporary measure to manage projects more clearly.
Build a contingency plan
Whether it’s allocating your resources, budget, mobilising your staff, informing your clients and customers, your contingency plan for emergencies must address all your stakeholders’ needs. It is extremely difficult to navigate this pandemic without concrete plans that address short-term and long-term goals. Without a contingency plan, you are merely reactive to each approaching challenge, effectively vulnerable to the looming obstacles. Think of all possible scenarios and build a system that eliminates risk on each facet of your business.
One thing to consider is how a remote team can add value to your everyday operations, and during emergency situations. Having an integrated remote team not only saves on costs, but also reduces local attrition risks and increases productivity at the same time. In times like these, companies that specialise in integrated staffing solutions have the capacity to uphold business continuity because of their expertise in remote work management. With a management team that supervises and mobilises your remote team, you are assured that they are taken care of so your business can continue and thrive even in the most difficult circumstances.
ASW is here to guide you in building a more resilient business. Contact us for a free consultation on how you can future proof your company now.