The longer the pandemic has gone on for, the more concerning it has been for business owners. Whilst many have been able to adapt by utilising technology or growing their businesses in other ways, how businesses will “bounce back” in the coming months and years remains to be seen.
Each business will need its own recovery plan, taking into account the challenges and opportunities relating to them but there are some common factors to consider which can help formulate that plan.
- Building Resilience
The challenges faced by businesses in the last year have been exponential and the pandemic has halted or completely wiped any form of strategy that was in place before it. However, it has also taught leaders and employees so many valuable lessons. The way many organisations have adapted would have seemed impossible less than a year ago. Reflecting on the lessons learned as well as identifying the strengths and potential weaknesses of your business will help to make recovery stronger and more successful.
- Focus on Talent Retention
Having a strong and dedicated team of employees will prove invaluable when it comes to business recovery. For those who have continued to work throughout the pandemic, it’s likely they will feel fatigued at some point, it has been a highly challenging year. Recognising this and showing your appreciation for what they’ve done for your business will make them feel valued. Businesses who have an engaged workforce that is invested in the long-term success of the organisation will thrive in a post covid world, so it’s important that people are at the core of your recovery strategy.
With no clear plan for what the road ahead might look like, it’s important to prepare for multiple eventualities and to have the ability to adapt accordingly. For office-based businesses this may involve a hybrid approach to remote working in the long term, for hospitality businesses it may be investing in outdoor and take away solutions. Looking at how businesses other countries have approached the easing of restrictions can help give some insight into how things might unfold here in the UK and will help you to plan for similar outcomes.
- Strategic Hiring
Having a clear and robust hiring strategy will be critical in aiding business recovery. Your hiring strategy should be based around your business objectives; what the business needs now and what it will need in the long term. Having these two elements aligned will ensure that you make targeted, cost effective hiring decisions. Our prediction is that there will be a rise in demand for specialist skills and the hiring of individuals with specific expertise rather than generalists. Businesses will be looking to bridge current and future skills gaps whilst also seeking experience around restarting, recovering and future growth.
- Opportunities for Growth
Once you’ve navigated the planning and reset stages, it will soon be time to press play on the plan to rescale and grow. Identifying opportunities in your sector based on the new ways in which your customers are interacting with you is a great starting point. From here you can identify exactly what your business needs to do to meet these demands focussing on budget, scalability, process and your team. Having identified areas of weakness in the earlier planning stages, you’ll be better placed to manage future risks and disruption.
Businesses in all sectors have been forced to adapt and whilst it’s been an almighty challenge, facing such unprecedented change has been like pressing reset for many organisations. It’s been an opportunity to reflect on how things are done and to dare to do things differently.
Recognising the skills your business might have lost during the pandemic and making future hiring decisions based on knowledge and skills gaps will be a priority for many businesses. Human Resourcing are the experts when it comes to sourcing HR talent, with over 20 years of HR recruitment experience, we are ranked number one by the sector.
For tailored hiring advice contact us today.