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As the first wave of federal loan funding has been released, many of us our finding that we now have to scramble to put things “back to normal” at work. But…do we really want things to go back to the way they were? This is a question being asked in many areas since COVID-19, and business is a key one. The question is: how and where should you start thinking about what business aspects to keep, and which to change? While we don’t have all the answers, we do have some that can help you answer that question! Below are three key business areas that you can reevaluate for lasting success through COVID-19 and beyond:
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Internal Policies
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This is likely one of the most obvious areas businesses like yours are already adjusting. From creating and reinforcing new guidelines around remote working environments to a more serious approach to sick days and leave, we have all shifted our approach over the last month. Don’t let this evaluation process get waylaid as your work begins to “normalize.” More than ever, it’s important to take a look at what internal policies can be adjusted, to help meet your core business goal: sustainability. Take the lessons learned from this crisis and let your employees weigh in on it. Their opinion, and more importantly, their buy-in, on any new policies is critical to your business success and longevity. As we’ve discussed in a previous blog, your employees will also play a crucial role in accountability of policies, particularly where health is concerned. They could also be a great source of ideas and changes that you might overlook. So, utilize them – they will thank you later!
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Procurement
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Procurement is one huge area that has been impacted by the COVID-19 crisis, and in very different ways than past emergencies. Dustin Lanier, founder and principle of Civic Initiatives, wrote a recent article outlining why this crisis has impacted procurement, and what some key areas are that need to be addressed. One of these is actually just capturing and evaluating the change. As he says “Change is everywhere today in procurement offices. Are these changes temporary or systematic? How will we roll back the changes that were made temporary and extend changes that should be made permanent?” This task can seem daunting – but it is necessary to do it. The payoff you will get from being proactive, and starting now to plan around changes will make a huge impact for your entire team. When things do resume a more normal pace, procurement will be a key area for everyone to get, and give, support. They will have a lot of items that got pushed aside to deal with emergency needs that that will suddenly require immediate action. Plan now, ease the stress and pain points later – it can truly be that simple.
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Operational Needs
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A huge lesson all of us have had to learn during this crisis is how to turn daily operations into remote ones. Within this, many of us have also learned what operations are actually necessary, and which are redundant. Take these lessons with you into the future! While we hope that there will not be a crisis of this magnitude again, we simply do not know. Invest in creating a solid operational plan and make part of your normal “daily” ones remote. Instilling the normalcy of remote operations when they are not necessary will make the transition to them easier, if/when they are needed. Just as with internal policies and procurement, don’t be afraid to get input from your employees on what policies have worked for them and been helpful. And take the time to explain policies to your team. Many employees might not be aware of the policies your company has – so calling attention to them can help employees see their necessity, as well as provide them an opportunity for input from their own experience.
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Overall, while this time has been extremely hard and stressful, it can also be a great chance to reinvent and be strategic about your planning for the future. We know that can feel overwhelming, but taking it one step, and one area of business at a time, will yield great results. And be patient – many adjustments and readjustments will be needed once the workflow is more normal again.
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Interested in learning more about reinventing your business? Contact our team at Kim@QuantumMark.com today!
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