Wipfli Article - Welcome to the New Normal: How COVID-19 has changed us

Tuesday, May 12, 2020 3:47 PM | Anonymous



Welcome to the New Normal: How COVID-19 has changed us


May 07, 2020

In the COVID-19 environment, one thing is absolutely certain: “business as usual” is gone. When organizations reopen and employees return to worksites, they are stepping into a new reality.

How can companies find stable footing in a changed environment?

There are five fundamental areas leaders need to assess as they transition out of emergency operations and into the new normal:

  1. Strategy
  2. Business model
  3. Organizational structure
  4. Employee health and well-being
  5. The phased return

Develop a post-pandemic strategy

Before the global health emergency, strategy development was an annual type of activity, focused on developing one-, three- or five-year goals. COVID-19 changed how far and how long we can plan into the future. Now, leaders need to be able to strategize and adapt in near-real time, making strategic planning a more fluid and frequent occurrence. 

In this environment, strategies are only relevant within 30-, 60- or 90-day timeframes — and even those require flexibility. Tactical plans need to be developed quickly; and execution and accountability should be measured weekly or even daily.

Leaders need to figure out which metrics are most important (or even relevant) in this new environment. The right metrics will help companies identify the right operational levers to pull. 

The board of directors will continue to have governance and oversight over strategy, but day-to-day leaders should take charge. The boots-on-the-ground view is more meaningful and responsive in times of constant change. To keep the board apprised, the cadence of meetings or amount of information exchanged may increase to match the new pace of business.

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