Post by account_disabled on Jan 3, 2024 23:32:48 GMT -5
The magically go back to the way it was before. The resilient businesses that will succeed in the future will be those that can continue to be as nimble as they were in the early months of the pandemic to turn a profit. This shift is giving rise to new types of companies that are better equipped to thrive in uncertainty and have a clearer, broader sense of purpose. Even after the health crisis and economic hardship, corporate superstars will continue to inspire people to achieve common goals. They will quickly recalibrate to respond to megatrends, expand beyond their traditional business scope through partnerships, and improve performance based on broader environmental, social and governance metrics. In recent months, we've talked with dozens of the world's top CEOs about how to build a better future. We found that companies that demonstrated the most agile and resilient responses to the crisis were adopting four main strategies. people oriented. One of the biggest lessons from this pandemic is that people are the key to rapid innovation and resilience.
Much of the workforce is now working from home, but they are coming together as teams across silos and geographies, united by a common purpose. One CEO told us: Solidarity has proven to be more contagious than the virus itself. As one COO put it, post-pandemic, the gap will widen between companies that are able to inspire and mobilize their employees and those that fail miserably in this regard. The senior leadership team Job Function Email List communicates openly and with empathy, making it clear that employees always come first. During the coronavirus crisis, many have shown commitment by avoiding or minimizing layoffs, providing aid to employees in need, and accepting executive pay cuts. Now, new steps to create cultures that retain and attract the best talent, even after health concerns abate and economic concerns persist. These include new compensation plans that reward employees not only for hitting sales targets.
But also for additional efforts such as supporting the company's culture of resilience, more opportunities for company leaders to hear employee feedback, wellness programs that offer mental health counseling, and more flexibility work arrangements. At the same time, companies are exploring new ways to more effectively harness the collective intelligence of their employees. For example, some executives plan to spend more time explaining their strategy so that employees feel empowered to make more, better, faster decisions, even with incomplete information. For example, if employees realize the company's goal of protecting its value chain.
Much of the workforce is now working from home, but they are coming together as teams across silos and geographies, united by a common purpose. One CEO told us: Solidarity has proven to be more contagious than the virus itself. As one COO put it, post-pandemic, the gap will widen between companies that are able to inspire and mobilize their employees and those that fail miserably in this regard. The senior leadership team Job Function Email List communicates openly and with empathy, making it clear that employees always come first. During the coronavirus crisis, many have shown commitment by avoiding or minimizing layoffs, providing aid to employees in need, and accepting executive pay cuts. Now, new steps to create cultures that retain and attract the best talent, even after health concerns abate and economic concerns persist. These include new compensation plans that reward employees not only for hitting sales targets.
But also for additional efforts such as supporting the company's culture of resilience, more opportunities for company leaders to hear employee feedback, wellness programs that offer mental health counseling, and more flexibility work arrangements. At the same time, companies are exploring new ways to more effectively harness the collective intelligence of their employees. For example, some executives plan to spend more time explaining their strategy so that employees feel empowered to make more, better, faster decisions, even with incomplete information. For example, if employees realize the company's goal of protecting its value chain.