How does business recover from CV19? – What they are saying

A common theme I am reading for any business trying to phoenix back from corona virus is the relationship between the business leaders/owners and the staff. Many are saying the future for companies will be based on the trust between the employer and the employees. It will be this trust that will enable companies to source knowledge and ideas that will either differentiate them from their competitors or allow the company to improve its ROE (return on effort). Having a few good ideas will no longer cut it as many of these will be based on pre-covid-19 virus (CV19) models. Ideas will need to be uninhibited, dynamic and rapid. The “I know best” attitude will become the antithesis to gaining ground after the CV19 period, it will probably even be before that.

Another theme is to use this change in business dynamics and market to take or even make your own opportunities. Business will not be the same as it was, for a multitude of reasons, so waiting to see what happens will be a bad decision> some businesses are now in survival mode, they are in their death throws and there may be nothing they can do if they stay the same. It will not be a case of jumping on the band wagon and make masks, or hand sanitiser. Yes, they were good ideas at the time but after CV19 is gone something else needs to take its place.

And many are talking of the change in relationships, people will begin to be more aware of others, to help and to care what happens in their community (at least a lot more than before CV19). There is also a lot of conversations at all levels – including Govt – about the need to acknowledge those who actually carry and hold up the economic and social world we live in, the nurses, the teachers, the supply chain people as well as the emergency service personnel – all those who have been typically paid the least. It behoves humanity to look after all those who add so much value for so little compensation.

More, very valid and informative information and articles have been written. I have found the following great, some have been enlightening:

After coronavirus: ‘We can’t go back to business as usual’  https://www.theguardian.com/money/2020/apr/04/coronavirus-business-finance-work-property

Why companies need a role-based model in the Covid-19 paradigm
https://economictimes.indiatimes.com/jobs/why-companies-need-a-role-based-model-in-the-covid-19-paradigm/articleshow/75139253.cms

How To Reinvent Your Business To Thrive After The Coronavirus https://www.forbes.com/sites/tedladd/2020/03/26/how-to-reinvent-your-business-to-thrive-after-corona/#6b0675e043e2

How the Coronavirus Is Already Rewriting the Future of Business
https://hbswk.hbs.edu/item/how-the-coronavirus-is-already-rewriting-the-future-of-business

COVID-19: Implications for business
 https://www.mckinsey.com/business-functions/risk/our-insights/covid-19-implications-for-business

Coronavirus: your guide to winners and losers in the business world
https://theconversation.com/coronavirus-your-guide-to-winners-and-losers-in-the-business-world-134205

Finding the Hidden Business Opportunities Around the Coronavirus Pandemic
https://www.inc.com/david-finkel/finding-hidden-business-opportunities-around-coronavirus-pandemic.html

Are Managers being supported during CV19 pandemic?

We see an inordinate amount of information across the whole gambit of media, supporting and encouraging the support of employees and small businesses and their owners, I have even promoted some techniques that I believe will help, now and in the future across different mediums.

But I see little out there to support those who also toil and work hard supporting the employees and indeed small businesses. These are the Managers, those who feel responsible for ensuring the employees are protected from the fallout as much as they can be during these turbulent times. It is these people who also try to keep the wheels turning for other businesses for they know one affects the other – both ways.

Like other major catastrophes and times of hardship, very few are not adversely affected. And so it is with managers, they also feel the financial pain but they also feel the pain of responsibility (yes there are some who think of themselves first, but this is not unique to managers). The managers who are leaders, think of the whole problem and feel pressured to conceive of positive outcomes for all, short- and long term.

Rebecca Knight in the HBR, wrote a good article titled “How to Handle the Pressure of Being a Manager Right Now”

Her article is broken into the following headings:

  • Choose self-compassion,
  • Reflect on your purpose,
  • Reframe the situation,
  • Force yourself to think positively,
  • Seek a sense of achievement,
  • Embrace your humanity,
  • Look outside for help,
  • Practice self-care.

The Brendan Reid website proposes ideas to help reduce pressure and relief stress. Although more generic and written a few years ago, they are concepts that are still relevant:

  • Score yourself on a longer-term horizon
  • Treat your team like partners
  • Involve your boss early
  • Create a “No Surprises” culture

And yet you, as a manager are still human. Take heed and care for yourself – as it goes “you need to stay well to be able to help others”. The UniMelb has some great points to be aware of:

  • Learn how to protect yourself, and others from COVID-19
  • Acknowledge your feelings
  • Maintain your day-to-day activities and a routine as much as possible
  • Stay connected
  • Remember that physical distancing does not need to mean social disconnection
  • Contribute
  • Keep things in perspective
  • Seek accurate information
  • Set limits around news and social media
  • Stay up to date with advice and support

Be becoming a little more knowledgeable on each of these, you can then not only look after yourself, but also your staff and ultimately the livelihood of all.

So, I wish you all the best in health and wisdom. You have been given an opportunity to show up as a leader of people, no matter what your calling or station in life. What will you do with it?

 

Full articles of each can be found at:
Rebecca Knight https://hbr.org/2020/04/how-to-handle-the-pressure-of-being-a-manager-right-now
Brendan Reidhttps://www.brendanreid.com/blog-1/4-ways-managers-can-reduce-pressure
UniMelbhttps://services.unimelb.edu.au/counsel/resources/wellbeing/coronavirus-covid-19-managing-stress-and-anxiety