Post-Pandemic Anxiety: Top 10 Adjustments That Every Company Should Make

As most countries are relaxing COVID-19 travel restrictions, I am enjoying visits to my customers and colleagues. It is pleasant to bump into some old friends in the airports and share a moment with them. Listening to my favorite playlist or checking out a movie while stuck in the airplane, watching kids running around in the wait areas, eating junk food in the crowded airports, etc. give me some comfort that the normalcy slowly returns.?

The pandemic has challenged the businesses and introduced the next normal . The post-pandemic anxiety of feeling stressed as things return to normal made me research on the key adjustments that all companies should make in order to stay relevant and be successful. My top-10 conclusions in no particular order are given below.

1.????Align to the new CEO priorities

The pandemic has changed the way companies do business. Per McKinsey, the five priorities for CEOs to emerge stronger in the next normal are: 1. Center strategy on sustainability 2. Transform to cloud 3. Cultivate talent of tomorrow, today 4. Press the need for speed and 5. Operate with purpose. We should align the business operating model to these priorities.

2.????Take mental health as one of the top objectives

COVID has jostled people's emotional equilibrium and placed a massive burden on the mental health of everyone. Every company should make sure that their employees are physically safe and mentally well. We should openly talk about it and give our teams opportunities to discuss their own experiences. While the employers approach this problem strategically, employees should build strength among themselves. Here are some activities to improve mental health.

3.????Strengthen the relational ties with employees to navigate the Great Resignation

Since April 2021, the attrition levels around the world are claiming record high . Traditional ways to improve retention using on-demand rewards/recognition do not work. Effective employee engagement by focusing on building relationships with employees is critical. In a post-COVID world where social interactions are restricted, nurturing employee relationships demand innovative methods .

4.????Rewrite the modern infrastructure

Road to recovery is rewriting the modern infrastructure so that our workforce is enabled to deliver in the new reality. Return is a lot harder decision than a lockdown . As more and more people work on collaborative tools, the bandwidth, speed, availability, and ease-of-use are all expected more. Companies that figure out how to provide an effective connected environment succeed in the race for productivity.

5.????Rethink employee benefits

The pandemic has introduced newer dimensions to employee benefits. On the one hand employee productivity level is going up , demanding a relook at their financial packages. Work from home has lifted US productivity by 5% in the post-pandemic. Some companies are beginning to restore cuts they made to managers’ salaries and bonuses. Many companies are boosting wages to bring workers back in the pandemic recovery. However, research proves that the average wage will decline as the recovery takes hold. On the other hand, the health and insurance coverage explode with newer complications due to COVID-19. Additionally, investments towards employee retention add new complexities in the benefits programs. It will be interesting to see the effects of wage impacts, skills shortage, productivity expectations and the equivalent pricing of products and services during the recovery.

6.????Re-skill the talent base

Pandemic drives workers’ desire for newer skills . Job security and the attractive opportunities that arise in the new normal motivate the workforce to polish their existing skills or acquire newer ones. Organizations have realized that they have to speed up workforce re-skilling in order to emerge stronger from the pandemic. The ecosystem of governments, employers and employees is worried about the serious disconnect that exists between the demand and supply of workforce. Bringing jobs and workers together in the new skills economy is a serious priority. For all of these, we have no choice but to invest and provide resources for learning and development at all levels which is as important as attracting/retaining talent.?

7.????Prioritize Cyber Security

Cyber and ransomware attacks are on the rise . Business continuity, remote work and the need for speed all demand greater focus on cyber security. The pandemic has shifted the cyber security priorities and budgets . Malicious employees, cyber criminals, hackers, and sometimes even unintentional mistakes cause serious reputational, operational, legal and compliance implications. In the post-pandemic scenario, cyber security is an inevitable force in our personal and professional lives.

8.????Learn from others’ mistakes

The early leadership mistakes that some companies made during the pandemic ?let others take the right course. The stress and anxiety among our workforce and the fear of uncertainty push everyone to the edge. When mistakes are made, show empathy . Instead of instant punishments, words of encouragement will go a long way. Be honest and open about your expectations so that the team can trust you and their productivity will go up manyfold . ?

9.????Pay utmost importance to QUALITY

As businesses are transforming to address the changing needs of the customers, it is important that the quality of the products and services are better than before. Companies cannot risk their brands by making mistakes in underdelivering when it comes to quality. Especially when speed matters in the post-pandemic world, the tradeoff cannot compromise quality. When businesses accelerate digital adoption to enable reimagination, quality will be at risk, unless otherwise smart-quality processes are carefully orchestrated at all levels of business life cycle.

10.?Don’t underestimate the culture

The pandemic has revealed the important role of culture as a major resource for resilience, connection and recovery. A country’s culture matters in managing the pandemic. The corporate culture should ensure resiliency but culture is the last thing that companies are worrying about today and it is a grave mistake. Usually, the corporate culture is built based on humans working together to solidify their shared beliefs. Now, the pandemic has fundamentally challenged the way we work. The concept of the remote/virtual workforce has raised completely a new dimension that can potentially weaken the corporate culture. Special attention to nurture corporate culture is important.

Anytime someone presents a top-10, it is obvious that there is subjectivity. My conclusions are from a top-down view. Let me know if I have missed any or you have a different opinion. Good luck.