Making
your
business
future-proof

Government organisations and healthcare staff are working around the clock to protect the personal health of individuals. Additionally, many policies are being put in place to mitigate the effects of the COVID-19 pandemic on the global economy. What can you do to keep your business as healthy as possible in these times of uncertainty? We share our vision on the key topics every business leader should be addressing in order to reduce the negative impact of the coronacrisis on their company and to future-proof the organisation.

1. Thinking beyond the crisis

Being mindful of expenses is key to survival in the short-term, but don’t lose sight of the long-term even amidst all the uncertainty. Now is also a critical time to evaluate whether or not your organisation is fit for the future. The COVID-19 pandemic has presented a real-life ‘shock test’ to assess how flexible your organisational structure is and how well your employees are able to shift gears. Previously we published articles on social innovation and effective change management, which are paramount to situations like this when innovation isn’t needed due to new technology, but new ways of working that need to be implemented.

At Venturn, we believe that a healthy organisation is able to adapt no matter the circumstances. This means that now is as great a time as any to re-evaluate and redesign organisational processes. By taking those steps now, you can shift your approach to a more future-proof crisis management strategy. Don’t just try to stay afloat—let us help you come out of this crisis stronger than ever.

2. Make use of the room for employee development

One of the major hurdles in filling in the need for training among executives, managers and staff is often a lack of time. Now that many people are working from home and business travel is put on hold indefinitely, employees have ‘breathing room’ to focus on their personal and professional development. By developing new competencies or focusing on improving existing skills, you effectively future-proof your personnel as well; ensuring that your organisation is able to perform more effectively throughout and after the coronacrisis.

Of course, traditional training options such as in-company workshops or face-to-face coaching are limited at the moment. But in the digital age, training needs can still be met in alternative ways. Venturn is happy to advise on how digital training tools and online assessments can help you keep your organisation in top condition, no matter the circumstances.

3. Foresee future business needs

Many organisations face the fact that tough times are ahead. With so much uncertainty surrounding businesses and the damage the COVID-19 deals to the global economy, it makes sense for organisations to be reluctant towards hiring new employees or renewing contracts. However, as previously stated, it is important to balance short-term survival tactics with long-term growth. Once the outbreak of the coronavirus is in control, many organisations will be faced with a peak in business as the economy recovers. Vacancies that have been put on hold will need to be filled in rapidly and replacements will need to be found for any gaps in the organisation that emerge in the current crisis. New business models will also require new knowledge and skills to be brought into the organisation.

Even if you are currently not in a position to hire new staff, it is beneficial to address your HR needs before they become an issue. How are your HR activities structured? Do you have the competencies and tooling available to source and assess candidates in the future? Would you prefer setting up an in-house recruitment team or form a partnership with an external party such as Venturn? Regardless of the size and complexity of your organisation, people are always the backbone of a successful business. Figuring out a future-proof strategy for how you attract and retain talent will help your organisation grasp growth opportunities as soon as they present themselves.

Hiring is not the only HR challenge to tackle. Whether it’s due to the crisis or because you are proactively building a future-proof organisation, you may find that some employees no longer fit in your vision for tomorrow. By helping them figure out the ‘next best thing’ in their career through proper outplacement, you can turn the loss into a win-win situation for the organisation and the employee.

4. (Re)consider interim roles

With the uncertainty and project standstills brought on by the COVID-19 pandemic, hiring interim advisors or applying for an interim position is likely not at the forefront of anyone’s mind. However, interim solutions can greatly support in leading an organisation through crisis, especially when you find yourself in an unfamiliar work setting. An experienced interim manager can help guide an organisation through crisis management or business strategy redevelopment. At the same time, using interim solutions to fill in roles is less risky than permanently hiring. A good interim manager can set you up for success and give you clarity in the type of person, competencies and knowledge needed once your organisation is ready to hire new employees.

In addition, this pandemic has driven many people to work together and promote a sense of community in challenging times. If you find that key members of your organisation suddenly have much more free time in their schedule due to cancelled projects or plans, perhaps now is a good opportunity to see how you can extend your expertise to other organisations in need. Venturn gladly assists in connecting businesses to create synergy, by providing our wide experience in interim management solutions.

The future is now

Especially in times of crisis, uncertainty can get in the way of making cohesive business decisions. The last key element of a future-proof organisation we want to remind you of is adaptibility. Crises are inevitable. While no one is able to predict what the next big crisis will look like, every business leader is able to take steps that enlarge the adaptibility and resilience of an organisation regardless of the circumstances. To run a successful business, be aware: to be prepared for tomorrow, you must act today.