Six traits for competitive advantage in a post-covid world

In an article we published back in 2020, we articulated seven clear phases of crisis in reference to the ongoing Covid-19 pandemic. These seven phases are represented in the image below.

?And now almost two years on I want to revisit this and spend some time thinking about where businesses are now. I want to look at what challenges businesses have faced, what they have overcome, what challenges still await them, and which attributes have helped organisations steer the course during this unprecedented time.?

If we take the optimistic view that the UK, and indeed much of the developed world, is moving from pandemic to an endemic situation, then leaders will now be considering the future and imagining success in our new reality. It is likely therefore that many organisations are now nearing, or may well be in, the final phase. We previously described this phase as crisis futureproofing.

But what is crisis futureproofing?

Well, certainly one of the most positive by-products of the pandemic has been the fact that it has forced organisations to innovate and transform at a faster rate than they had previously thought possible. In order to do this, many firms shifted to a mindset which is at the very heart of crisis futureproofing and one which I will reflect upon in this article.?

?Examples of crisis futureproofing can be found everywhere, here at Webhelp for instance (the business of which Gobeyond Partners is a part), we have accelerated development and thinking across all necessary working models, from home working, to working in the office and, indeed, all sorts of hybrid models in between. In fact, the rationale that sits behind this complexity has become a core part of our Webhelp Anywhere approach. The methodology of this approach has provided us with a structured way of designing these new ways of working, based on specific organisational and commercial criteria. Of course, the output of this work is undeniably useful, providing a blueprint for competitive operational advantage. However, the most valuable part of it is that it opens minds and starts to engender a new way of thinking; a way of thinking that moves us all beyond the reactive myopia of a demand-intensive pandemic.

?As my team and I have worked through this approach with various clients, we have witnessed some common organisational traits that have, more often than not, dictated a faster route to success. There are six traits in all, and I’ll summarise them below.??·??????

??1.?????Resilience: All organisations (no matter their size) have needed to respond to adversity over the last few years. At times, leaders have, quite understandably, felt tired and lacked energy. Those who have been able to see problems as opportunities and convince their teams to invest time and energy into new ventures have succeeded. Certainly, re-inventing oneself is not easy, and it’s even harder when working remotely. But resilient leaders have created that positive energy at their lowest ebb. The best successes have seen existing capabilities repackaged as fresh new propositions to solve present-day issues. It’s really quite amazing what has been achieved during this time when you take a step back.

?2.?????Adaptability: The repositioning of a value proposition to solve a new problem does not mean changing the core capability of a business. And here’s a classic example of this. Mercedes F1 diverted significant energy and resources with University College London (project pitlane) to develop a continuous positive airway pressure device which saved many lives during the pandemic. Just 100 hours elapsed between their first meeting and the production of the first prototype. Machines that were normally used to produce pistons and turbos were used to meet the new demand. This is adaptability at its best.

?3.?????Resourcefulness: A huge numbers of cafes and restaurants did survive the pandemic by totally reimagining their service model. They had to launch a whole host of changes - home delivery, new opening hours, new packaging, more convenient payment methods, creative menus, new distribution channels, learn all about workforce planning and coach in a much broader set of skills – all had to evolve if firms were to survive. Capturing those headings provides us with a great checklist for a future crisis and we must learn from them all.

?4.?????Assuredness: The inability of some politicians and some observers to understand the concept of exponential growth, led to the UK suffering above average death-rates versus similar European economies. Although the early rollout of the vaccine decreased this gap, most adults have been given a life lesson in lead and lag indicators. The relationship between infections, hospital admissions, ICU numbers and deaths has been horribly predictable. Political pressure has prevented the scientists from being able to flatten waves as effectively as we might have hoped. Nonetheless, this is a useful illustration of how daily tracking of data and trends can inform decision-making. Trusting your gut can work of course but using the data intelligently has never had such a prolonged advertisement.

?5.?????Effectiveness: Both Brexit and COVID-19 have caused substantial pain for?UK?businesses and their supply chains, and for the first time in a long time, the?country?is dealing with?rising?interest rates?and?inflationary?prices. Continuing public health concerns, ongoing supply disruption, and the unpredictable nature of the months ahead?are?also?all?shaping the market.?When looking at this challenge, there’s a danger companies look for solely cost-based solutions, not least as they can be an immediate lever. But when they do so, they often?confuse?efficiency with effectiveness and fail to recognise that cost savings achieved in one area of a business can become?larger?cost increases in others. Take the contact centre environment as an example, where customer demand is dynamic and can be unpredictable.?Interactive Voice Response (IVR)?solutions?are typically deployed to manage this demand, with cost efficiencies achieved versus staffing costs. When poorly implemented this approach can lead to repeat?contact, call backs and customer complaints. Our work with clients in this space consistently highlights that an approach traditionally viewed as inefficient can be the best, most effective, next step. We often find that being slightly over capacity from a staffing perspective?i.e.,?less?efficient, can be more effective on a holistic level - and help deliver a better customer experience.?Being effective is all encompassing. It requires a deep understanding of the operating model, from considering where technology can benefit the operation and the customer, to looking at how?Key Performance Indicators (KPIs), coaching and incentives can shape staff behaviour, with much more in-between.

?6.?????Extensiveness: Companies are changing their workplace strategies, with employee preferences as much of a driver as concerns about health?and safety. And rightly so. We now expect flexible work policies to become the pillar upon which businesses will attract and retain talent over the coming years. Greater flexibility and the ability to work remotely will be a?priority?long-term change to the workplace.?There is no doubt that the labour market is the lynchpin of future recovery and now, more than ever, empathy, understanding, and a clear people-focused strategy will be essential to retain and delight employees.?I think it’s fair to say that the companies?who are?weathering the storm?the?best?are?doing so because they are?putting?their?people first.

?Aside from the qualities and traits outlined above, there are some very tangible challenges that leaders must address too. I believe that these challenges are threefold:?

?Challenge 1: Closing the talent gap.?

?While there are ongoing reports of a post-pandemic talent shortage, as the so-called ‘Great Resignation’ impacts headcount and increases talent competition, trouble was already bubbling under the surface long before COVID-19?struck.??

?Long-term workforce planning will be critical to balancing?both?short and long-term objectives in?preparing for the future of work.?With this in mind, leaders must work alongside their own employees to identify skills gaps?and investigate how?to acquire those skills, both from within the organisation and outside.??

?Development and training programmes are being overlooked at a time when they have?never been more critical.?This is another way that employers can demonstrate their commitment to investing in their people,?building?their workforce to fill skills gaps?and prepare for future disruption.?Setting employees up for success and empowering them in their work through reskilling, upskilling, coaching, mentoring and encouraging the development of personal skills like listening, diagnosis, problem-solving?and?empathy building alongside?job-based skills?training will?re-engage employees?and help?retain them?longer term.?

?Businesses will need?to rethink their recruitment process, hiring staff for potential, not just?for their?performance.?The recent?influx of resignations isn’t necessarily a bad thing. It means?there is?more talent in the market looking for roles?in?companies that are better suited to their skills and values. That’s a win?for?companies who?have?immediate gaps?to fill,?but they must also prepare?for the future change,?attracting candidates with the skills the?business will need in the future - to?ensure they?continue to grow,?rather than?just?replacing someone who has left.?

?Challenge 2: Cyber?and resilience.

?A cyber "pandemic" is probably?just?as inevitable as another future?health?pandemic and,?as such,?cyber resilience?must now?be a top priority for organisations. COVID-19, whilst incredibly destructive can?actually help?to?provide?some?insight into how business leaders can prepare.??

?As we have seen with the pandemic, even a short delay in response can cause?substantial damage, and whilst it’s impossible to prepare for every possible risk,?companies can prepare?using scenario planning to reduce response time and define a range of pre-determined operational options in the event of an attack.?

?Challenge 3: Adopting Technology appropriately

Technology exists?in the workplace?to aid performance,?and those who are really?important?are the?people?within that business.?

It is the people who really matter.??

Businesses often start with technology when it comes to Digital Transformation but, we believe that starting with people – be they customers or colleagues - is the key to reinventing how a business operates, especially?in light of?the year just gone. By viewing every business challenge through?a human?lens, organisations can drive significant and sustainable change, whether the ambition is to increase revenue, reduce costs, or both.??

Technology is more attractive to workforces when it is positioned around "taking the robot out of the human" by eliminating mundane and repetitive tasks than when it is positioned as a job reduction scheme. The best way to prepare workers for automation is to help them understand how it will benefit?and bolster what they do—improving the quality of their work, reducing routine,?removing the?mundane tasks, and giving them the time to?think and add value?at a higher level.?

Conclusion

Whilst writing this article, and indeed by collating insights from a number of colleagues to get to this finished article, I have to admit that my thinking has evolved, specifically in terms of considering what a business needs to survive and thrive post pandemic.

During the crisis for example, and when we penned that first article on the crisis curve, I felt that there was a road map approach that could be taken; a step-by-step process if you like. However, having reflected on it, I think we can now be clear that the future simply doesn’t lend itself to a one size sits all approach. There is no cookie cutter here. Rather it’s about businesses creating a mindset shift and having the ability to reimagine what they do.

I believe that the future belongs to the organisations that have the right mindsets, not those who have merely joined the dots. Businesses who have ‘reimagined’ themselves will win today, tomorrow and in the years to come.

Thank you for taking the time to read this article. Your comments and thoughts are very welcome.