Change is never easy, but in the business world, it is necessary, and companies have to work hard to prepare for what the future holds.
Invest in the Employee Experience
One of the best techniques to prepare your company for the future of work is to put employees first. LinkedIn’s Global Talent Trends 2020 report shows that the employee experience is an increasingly important part of the organization for 96% of talent professionals. Moreover, 50% of respondents in the HR Sentiment Survey 2020 the employee experience as one of the most important initiatives for 2020. By prioritizing the employee experience, leaders can create a more meaningful connection. Using surveys and tools, leaders can monitor the well-being of their employees, identify their needs, and adjust work policies accordingly.
L’Oréal is one of those companies focused on creating a more positive employee experience. This brand has 88,000 employees, 55,000 of whom have worked remotely during the pandemic. To help employees with the challenges of telecommuting, the company has implemented several initiatives, such as ‘Learning Never Stops,’ a project that provides employees with training in stress management and well-being.
Diversify the Workplace
Diversity reports published in 2014 by several major tech companies found that most of the tech workforce consists of white men; this is not surprising, given that in almost every sector, stereotyping, unfairness, and underrepresented minorities have fewer opportunities to grow and advance professionally.
However, there are no such problems with the e-commerce company Shopify. With each vacancy, the company encourages all potential candidates to apply for the position — even if they don’t comply with all the requirements “because skills and competencies come out in many different ways and can develop through life experience — not just education.
Communicate the Company’s Purpose, Mission, and Values
In times of crisis, some companies find refocusing their brand or switching target markets helpful. Brands that want to impress their audience must first develop a solid understanding of their customers’ needs. L’Oréal also shows how best to do this as a company in this area. For example, the pandemic has created an unprecedented demand for disinfectant products, prompting the brand to use its manufacturing facilities to manufacture hand sanitizers for hospitals, pharmacies, food stores, and care homes. L’Oréal has also decided not to profit from this initiative and has announced that it will provide these products free of charge.
Recognize the Importance of Agility
As the business world starts to change rapidly and consumer demands intensify, leaders must find a way to make their organizations more agile. Research by McKinsey & Company showed that organizations where they more deeply embedded “agility or agility in business models” outperformed their competitors during the COVID-19 crisis. In addition, these organizations had more engaged employees, improved operational performance, and increased customer satisfaction. Many less or non-agile companies struggled to re-prioritize their work and switch to telecommuting during the lockdowns. Thanks to their agility, several European and Asian telecommunications companies have provided better service during the pandemic.
Harness the Power of Technology
Companies also need to invest more quickly in critical technologies to remain agile. In China, where many companies have moved to more flexible workplace models due to the pandemic, telecommuting solutions – such as WeChat and DingTalk – have become increasingly popular. Due to the large-scale transition to teleworking, the number of active users of DingTalk is no less than 125 million. Some companies even went further and developed unique applications for their frontline teams. For example, a bank set up a mini-program that allowed their relationship managers to continue communicating with customers and generating leads.
Make Cyber Security a Priority
Although automation helps companies improve workflow and efficiency, they must carefully handle technology. As more companies adopt digital and cloud solutions, they can face various security issues simultaneously. Employees are often unaware of these risks, so it’s important to implement training programs to ensure that employees know how to secure their systems and data.
Focus on New Skills
As we live in the age of digital disruption, digital skills have become essential. A recent survey by Dell Technologies shows that more than half of respondents believe that digital skills will lead to a massive change in the workplace. Artificial intelligence helps employees complete more tasks, better manage workflows, and better understand the data their company collects. Dell predicts that by 2030, an understanding of AI will “unlock human potential and enable workers to differentiate themselves from others.” In addition to digital skills, new employees must have sufficient soft skills, such as creative thinking, communication skills, and objective judgment. People with emotional intelligence will build better relationships with their colleagues, creating a more respectful environment where everyone’s input is valued and encouraged.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.