It is true that business confidence has improved this year than in 2020. The consensus is that businesses and the general public have adopted and accepted the pandemic situation. The news of the discovery of numerous vaccines is also a contributing factor that things would be better. As a result, there is now a common attitude of complacency, which is alarming. Business leaders must remain vigilant and alert. They must continue to innovate and adapt to this new environment. They can do this if they fully understand the changes and possibilities in this period of the COVID-19 pandemic. Where in fact, immensely changed the way businesses, consumers, and society are living and working.
In his viewpoint, Mr. Allyxon Cua, President of AMTI, one of the most diversified ICT companies in the Philippines and a Digital Transformation enabler, shared the following possibilities that businesses should consider and look forward this year described as the ‘new normal’:
- The Emergence of Hybrid Work-from-Home/ Work in the Office
2020 have shown us that Work-from-Home (WFH) is not only doable but also more efficient and cost-saving for a lot of businesses. But we have also seen that not all type of jobs are possible in a WFH set up.Businesses settled with adapting to a hybrid workplace instead which enables employers to have the best of both worlds: management and supervision and flexible options to work anywhere convenient. This approach empowers greater productivity, sustained business performance, and an employee-centric work environment.It also gives employees a work-life balance and reduces the congested traffic in the past that accounts for most of the workers commuting daily.
- Improvement of Human Resource Management
One of the major influences for businesses to thrive in a new culture of a workplace is human resource (HR) management. HR leaders need to acknowledge what best worked in 2020 and what needs improvement in 2021. This includes:
- Revisiting and reviewing policies set best suited for work-from-home or hybrid work arrangements.
- Guaranteed safety and well-being of employees in the workplace.
- Initiating and implementing online activities and training that improves employee skill and experience.
- Providing tools and resources that increase productivity.
- Improvement of productivity metrics
- Data Security
Security will play a significant role in improving a remote work environment in the long-term. A distributed workforce means it is more vulnerable to cyber threats as more cybercriminals are taking advantage to get and access data from unsecured home networks. When cyberattacks happen, it can severely affect one's company and its ability to operate remotely. Having a proactive approach to data security will lessen the possibility of cyber-attacks or data breaches. Providing the workforce with cybersecurity knowledge, tools, and software to safeguard both their personal and the company's data also helps lessen the probability of experiencing cyber threats.
- Managing Finance Efficiently
Now is the time for leaders to reevaluate and strategize long-term plans and set specific goals for growth in 2021 considering the new business environment—what resources to invest in and how to improve cash flow and increase revenue. Focus growth can be developing new products and services, investing in tools that foster productivity and both employee and customer experience, a smart approach to the current workforce and talent acquisition, and capitalizing on online and digital platforms. Moreover,if businesses who benefitted from the stimulus package under the Bayanihan Act 2 would not strategically and wisely allocate the provided or loaned funds, they will possibly experience another loss. Plan accordingly and spend wisely.
- Understanding the Benefits of Cloud
While remote work setting in businesses is not going away soon, the value of cloud is essential to achieve efficient and cost-effective business operations. It allows employees to stay connected, access secured data, and collaborate efficiently. Simply put, moving to the cloud not only ensures one's business stays connected but leads to sustainable growth and competitive advantage in this ever-evolving market as well.
- The Value of Outsourcing
One viable business strategy to manage expenditures and increase efficiency is to capitalize on outsourcing the non-core aspects in one's business. One dedicated team of highly-skilled people to manage projects or tasks reduces the weight of incurring costs in managing in-house workers. Moreover, outsourcing helps businesses to maintain their strategic focus on the core aspects to sustain their business and profitability.
Crisis breeds innovation, and all it takes is determination, the right leadership, and mindset to overcome a crisis.
"Hiding or refusing to take risks are some of the things that businesses should leave behind in 2020. If those businesses refuse to explore new approaches and strategies to survive, it will greatly affect their business and harm our economy. We must acknowledge that keeping the status quo (before the pandemic) is not the way forward. For business leaders, this is the best time to start the business transformation within their respective companies, build for today and the future. There are still uncertainties this year when it comes to the responses and recovery from the pandemic, and it might take longer. What we should do is be adaptable and prepared for the eventualities. Those who plan even in worst-case scenarios can weather the storms quickly and succeed this year,” Mr. Cua explained.
AMTI, together with Dell Technologies, offers products, technology solutions, and consulting services tailored to address the most pressing business, operational and remote workforce dilemma of the new and the next normal.
Talk to AMTI now to help you analyze your current workforce situation and remote work readiness to come up with recommendations and solutions tailored for your business. Send your inquiries at www.amti.com.ph/contact-us/or email us at [email protected].
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