People are key to business recovery

“Reflect, Recommit, Re-engage, Rethink and Reboot.”

This mantra has been conceived by Deloitte. It is part of their contribution to the WEF’s Sustainable Development Impact Summit.  The article on the World Economic Forum’s web site says this:

“While many businesses continue to grapple with the first ‘response’ phase of the COVID-19 crisis, working through these five actions can provide a roadmap through the second ‘recovery’ stage, and onwards to the third ‘thrive’ phase, according to the professional services network, Deloitte.”

Here is the link

Deloitte’s COVID-19 recovery plan for business | World Economic Forum (weforum.org)

The article also says, “At the core of these steps is the idea that it’s important for leaders to take time to pause and listen to voices from across their organizations, as part of a more ‘human-centred’ approach to workforce management.”

Aligning people with the vision

One of the core messages from the article is the need to reconsider workforce issues and to adapt to new working patterns.  Our focus is on motivation, incentives, reward and recognition.  These extracts from Deloitte’s thesis highlight our belief that performance improvement in business relies heavily on people.

  • Companies should embrace ideas like ‘purpose’ and ‘potential’, with the aim of creating a strong and resilient workplace culture.
  • While the majority of staff in some organizations have been working from home, people have very different experiences of what has worked well – and the shortcomings.
  • Companies need to increase their focus on workforce wellbeing and purpose.
  • An ‘agile’ way of working has become the norm for many businesses.  The task now is to make sure staff are comfortable with making this productive, but sometimes disruptive, way of working into the new normal.
  • Deloitte urges more fundamental rethinking, calling on organizations to “take risks”. These include reforming the physical structure of offices, questioning the idea of regular shifts and even reconsidering how career progression is judged.
  • As uncertainty continues and more people work remotely, HR will also have a crucial role in helping to “integrate the workforce’s need for individuality and belonging” with businesses’ needs for “security and invention”.

Performance improvement

There are many factors affecting performance at work, both for individuals and teams.  One underlying concern is to maintain commitment, loyalty and engagement.  Employees and channel partners need to be kept informed and involved, if they are to accept change and support strategic decisions.

Clear and regular communication is essential in sustaining business performance.  All stakeholders must be included.  Recognition and rewards are powerful tools in the leadership locker.

CITATIONS.

World Economic Forum

Sustainable Development Impact Summit | World Economic Forum (weforum.org)

Deloitte

Deloitte | World Economic Forum (weforum.org)

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