The business risks in a post-COVID landscape
Photo by Christina Morillo
We are officially living in the post-COVID landscape. The world has experienced a number of challenges and businesses have had to manage the economic and health crisis. Companies had to navigate different channels of customer engagements, remote working, and the re-engineering of supply chains. Numerous developments have had businesses scratching their heads wondering how to prepare for the next bump in the road. While many businesses have adapted to changing circumstances, many are still wondering how to make sense of the post-COVID landscape. Part of the solution is in understanding the problems.
Health and wellbeing transformations
Workers have demanded greater flexibility arising from the pandemic and assessing their priorities which has had big implications for the health and wellbeing of employees and society. There may be concerns relating to productivity loss or managing employee safety or security challenges, which may also have a knock-on effect on health and safety.
A more lackadaisical approach to health and safety can mean a less focused organisation as a whole. This is where organisations must take inspiration from suppliers that are inherently focused on health and safety, as it is a fundamental part of their role. For example, providers of playground equipment for schools will always need to assess the bigger picture and understand the far-reaching physical implications.
On a broader level, there is an ongoing mental health crisis. This is something that businesses are still paying for. Understanding a more effective approach to dealing with employee depression and its various forms is going to not just tackle employee wellbeing at its core, but also have actionable solutions. Employee wellbeing is not something that should be a footnote to the business’s needs, but rather has to be a part of its core values. Healthy employees are happier and more productive employees.
Responding to global risks
The pandemic may appear to be over for many people, however cases are rising, but there is also monkeypox to be concerned about. Throw into the mix worries about climate change, the unstable economy, and the ongoing war in Ukraine, and you’ve got a hotpot of potential disasters around every corner.
Companies have all struggled in their response to the global risk arising from the pandemic. This is why many organisations need to develop a more robust approach to dealing with disasters. Companies that focus purely on the short-term are selling themselves short because when the next crisis comes around the corner, they will be ill-equipped to deal with it yet again, and they will focus on cutting corners or reducing staff sizes rather than being proactive and understanding how to keep the business afloat, but also keep their employees at the same time.
When businesses choose to invest in components beyond employees that rather focus on self-serving aspects, this is the equivalent of cutting off your nose to spite your face. Disasters are always a part of any business landscape. Post-COVID, we can go from the frying pan to another frying pan and eventually into the fire unless companies start to build resilience in the face of any dynamic disruption.
