June 4, 2020
THE BENEFITS OF FORCED ADAPTATION:
How the Pandemic May Change Business for the Better, According to New Research (MARCEL SCHWANTES, 6/04/20, Inc.)
The one downside of how effectively W, Ben and the UR dealt with the credit crunch was it made the Recession so shallow and brief that it did not force much significant change.More so than any other factor, nearly half (47%) of CEOs said the crisis will fundamentally alter their organization's approach to remote work in the long term. But we've long been heading in that direction.In fact, an earlier West Monroe poll found that 91% of employees agree they are just as productive working from home as they are in the office. Clearly, remote work has reached a tipping point, with the pandemic providing the final push needed to fully embrace this new way of working.When asked how the current market crisis will create a lasting impact in the U.S. economy at large, one-third of CEOs agreed that a top factor will be increased agility and speed of work, such as more rapid decision-making and prioritization.Not only has the COVID-19 pandemic abruptly changed everyone's lives both personally and professionally, but it has also forced companies and executives to work with more focus and dedication than ever.This pandemic is creating a situation of forced adaptation. For companies across industries, digital transformation is no longer something to plan for: it's now a daily mandate. Business leaders cannot afford to be complacent. Instead, they must rise to the unique challenge of this moment with an intentional evolution.The pandemic can change business for the better -- if we embrace the agility it's creating.
Posted by Orrin Judd at June 4, 2020 12:00 AM
