Tips for CEOs to successfully navigate the new normal

Covid-19 pandemic was the epitome of a disastrous and chaotic global event. The pandemic forced a complete stop and an overhaul of lives all at the same time. Future was no longer concrete, and everything that we as human beings considered secure began exposing dangerous vulnerabilities.

Initially, people thought that the insidious nature of the disease that makes the very act of breathing impossible was the only danger. But what made the pandemic truly devastating was the ripple effect that cascaded loss and suffering to everyone in the world regardless of the circumstances. It affected the very livelihood of the people. Companies that did not have the resources to enact a plan of action were burdened with unimaginable loss, forcing them to shut down forever.

It affected people so profoundly that no one truly knows how to move on or come back from it. The only way to ensure that all the loss and suffering yields something productive is by deducing from our mistakes and ensuring we don’t repeat them. Here are ten tips that CEOs need to keep in mind to operate in the new normal:

Empathy Matters: The pandemic was a grave reminder for not just CEOs but for everyone that life is precious. Every life counts, and it opens many leaders’ eyes to the emotional toll their employees are going through. The pandemic humanised the workforce, and they became something more relatable. The most effective way to ensure that operations continue is by connecting with them, giving them a reason to work, and ensuring that no one encounters burnout due to intense pressure.

Communicate: One of the effective ways of assuring the employees that they are protected and put a rest to their fears is by actively and honestly communicating with them. No one ever followed a leader that refused to talk. It was the greatest orators that always had the most loyal followers. Establish an open line of communication and keep the employees apprised of the situation. Good or bad, an organisation is not made by one person. Every person has a role, and communication is key to reminding them of that.

BCP Needs to be Modified: The pandemic was an unprecedented disaster. To ensure that all employees are protected and operations continue in the Business-as-usual model. The pandemic was a stark reminder that one could not prepare for all eventualities, but investing in the right technologies and ensuring a seamless transition of operations to the online workspace provides leaders much-needed time to strategise while ensuring they don’t haemorrhage resources.

Prioritise Clients & Vendors: Yes, all clients are important. But when push comes to shove, it is smart to provide comprehensive service to high-tier and loyal clients rather than struggle to balance a large but unhappy clientele. The same applies to vendors. As a leader, you have to lock down the most crucial vendors to ensure minimal disruption.

Build a Resilient Supply Chain: Supply chain is necessary for sustainability. During the pandemic, when quarantine became the norm, the importance of the supply chain was greatly realised by businesses across all sectors. A resilient and adaptable supply chain is crucial to ensure operational capability during a crisis.

Silo-Agile Teams are Key: Instead of one large teamwork on one large project. It is more efficient and reliable to dissect the project and have smaller teams work on various aspects. This ensures that even if one team encounters a situation where they cannot continue, the overall project continues to be worked on. This greatly reduces delays and cancellations.

Address The Evolving Consumer Needs: People were forced indoors, and their PDAs became their once source of contact to the outside world. This fostered a shift in consumer preferences who now prefer a large chunk of their activities to be done online in safety and the comfort of their home. This means that businesses need to concentrate on an online presence and provide them with products that would be beneficial during their quarantine period. Regardless of what the industry was when the company’s very survival is questioned, CEOs need to step up and take the company in a direction that resonates with their customer base.

Re-Evaluate Marketing Strategies: Digital marketing became one of the most crucial parameters that contributed to the sustenance of the company. As aforementioned, prospective consumers were forced to spend a lot more time online than offline. This means that businesses need to connect with them online. As a result, CEOs of today need to focus on their digital marketing strategy and produce SEO content, social media ad campaigns, or adhere to any other prominent digital marketing technique.

Invest in a Reliable Virtual Platform: Virtual space became a safe space. Whether it’s a business meeting, an informal meeting, or shopping, or just about any other activity can now be conducted online using reliable virtual platforms. CEOs need to prioritise investing in a virtual platform that is cloud compatible and even performs like a commercial platform to their consumers.

Invest in Data-centric Tech: Every data is valuable in this information-loaded era. Especially during a pandemic, whether it’s business analytics, sentiment analytics, or general predictive analytics, it remains true that comprehensive analysis of data can reveal key intelligence that is valuable to build effective and, at times, foolproof business strategies.

There is no debate that the Covid-19 pandemic has probably been the single most catastrophic disaster the entire globe has met together. We could have never survived this pandemic without the tireless work and help of first responders, healthcare professionals, and emergency personnel.

Irrespective of the circumstances, no matter how exigent, the only way to stop progress is to refuse to evolve with the changes. If observed with a positive attitude and clear enough hindsight, every challenge or obstacle would serve as the ideal teachable moment. The one sure positive takeaway from the pandemic is that we are no longer ill-prepared to meet similar and much worse scenarios now.

The author is CEO and Founder at Proxgy.

Companies that didn’t have the resources to enact a plan of action were burdened with unimaginable loss.