Is Your People Management Strategy Sustainable in the Long Term? – Coronavirus (COVID-19)
Malta: Is Your People Management Strategy Sustainable in the Long Term?
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This article was originally published in the October 2021 issue of “The Accountant”.
It is understood that at the onset of the pandemic, many organizations focused primarily on ‘riding the waves’ and ensuring that they survive. It was an unprecedented situation where even those sectors that had no direct impact worsened themselves. However, the measures adopted to survive are often against the strategies one uses to grow and maintain an adaptable workforce that can focus on the long-term sustainability of the business.
In 2020 many companies chose to restructure and leave roles that were not directly involved in their company’s revenue generation elements. Others cut training budgets, halted salary progression or set up perks and other benefits that kept staff members feeling recognized and motivated. But a year and a half after the onset of the pandemic, some businesses seem reluctant to abandon this philosophy of survival and return to a growth mindset.
The reality is that in a short time, people are typically willing to introduce and understand that perhaps their company is going through great difficulties. People can accept to have their roles stretched to supervise or also perform functions that previously fell within the mandate of someone else’s role. However, issues start to arise when this remains the company’s modus operandi long after the business is no longer in jeopardy. Out of a sense of obligation and loyalty to help his business succeed, employees begin to feel resentful and take advantage of it. In addition to these negative feelings that are being shared among the workforce and potentially have an impact on the employer brand, the current demands of stretched roles, high expectations and lack of investment in resources, all begin to take effect.
When employees are too stretched and tired, they don’t have the energy nor the head space to innovate or think proactively. They stay focused on the ‘survival’ mode and focus on the brand of daily needs, addressing the most pressing concerns and ensuring that nothing goes wrong. This is completely against the growth mindset of ensuring that what is important is on the agenda before it becomes critical and that the business is at the top of its game, ahead of industry trends and exceeding the expectations of its customers.
A company philosophy that is aimed at holistic growth, identifies the skills, attitudes and values it needs to achieve its goals and then establishes a plan to attract those people from the market. Ensure that its workforce remains drastic and technically competent in the face of a complex socio-economic climate and invests in its people and the resources they need to do their best work, rather than seeing this investment as a bite in the lastly. Ensure that performance expectations are clearly set and implement a support mechanism to help people achieve their goals and remove early and efficiently those who are not attracting the same goals. rope with the team. Listen to what he wants his people to be able to be more productive and then establish an action plan on those achievable results that could mean retaining higher key talent. And although most employees may see beyond the frills of free health insurance, days of extra leave or fruit in the office kitchen, such benefits contribute to the sense of an appreciation that employees feel, particularly when their performance is stable, goals are being met and competition for the best talent is still fierce.
One of the most talked about pandemic changes was likely the shift for many organizations to accommodate work remotely when this was not a normal aspect of their workplace culture. Employees globally have taken to social media to call for such measures to remain in place because for many, flexibility and trust are even more critical than other benefits. This presents a unique opportunity for many businesses to think long term and think where everyone wins. What could have been a band-aid solution brought about by sudden events could be an evolution of the workplace – a way to retain the best talent while reducing the costs attributed to having employees on the ground.
Needless to say, for a company to get out of the way of survival, it is critical to be efficient. Adding people to a team or the sudden creation of new roles is not necessarily equivalent to an increase in productivity or an increase in profits. One has to carefully assess what kind of resources the team needs and how they are likely to change according to customer trends and the dynamic nature of the environment in which the company operates. However, while being efficient and lean is definitely essential, in some companies the boost to efficiency leads to executives losing the bigger picture and rather than lean, running companies that are metaphorically underfed and at risk of exhaustion.
Organizations that are aiming to succeed in the coming years need to reflect on their people’s long-term strategy and ensure that it is as sustainable as their corporate strategy and business plan. The COVID-19 pandemic will not disappear suddenly nor will other socio-political challenges at local and international level. Building a sustainable people management strategy requires being aware of the long-term needs of the organization and factoring in the reasons to attract new blood and keep employees committed and perform their best. Such organizations need to build teams that are resilient, flexible and adaptable to changing circumstances, eager enough to change course quickly and have enough space to think strategically and innovate when the old ways of doing things happen. things no longer serve the business well.
The content of this article is intended to provide general guidance for the topic. Specialist advice should be sought on your specific circumstances.
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