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New Normal Business Practices Post COVID 19

New Normal Business Practices Post COVID 19

New Normal Business Practices Post COVID 19. Although the world is still battling with the COVID 19 pandemic, there are positive signs progress is being made on all fronts. Several countries and companies are taking proactive steps to return to normal.

This doesn’t mean life will be as it used to be pre-COVID era neither will these changes be universal. Restarting operations after the lockdown will come in different ways and at different paces for everyone.

Some of the new normal practices we’ll see are large scale testing, wearing of facemasks and contact tracing. Since a vaccine hasn’t be made yet, there is no assurance most restrictions in place will be relaxed or reversed.

In this article, we’ve come up with tips businesses can use to get back on the normal.

Create a comprehensive relaunch plan

For a business to ensure recovery, they have to create a comprehensive relaunch plan which differs from each country, sector, customer and product.

This plan will guide supply, marketing, sales and production efforts. In addition, it will also help establish a timeline for the recovery of each sector. Business leaders will also have a head start which they’ll use to reassess prospects and investment as it’ll alter their value chain’s geography e.g. asset relocation.

Reassure consumers about the safety of their services and products

You can do this by outlining how your clients should stay safe at all times. As they enter the establishment, take their temperatures, provide hand sanitizers, use no contact payment and click and collect services.

Safeguard the safety and health of your staff

Although a number of workers want to return to work as soon as possible, they are also worried about their workplace safety. It is the duty of the organization to reassure their staff of their safety. They also need to find ways that’ll motivate them after a long period of lockdown.

Employee safety should be prioritized by increasing testing, redesigning workspaces and encouraging remote working. By always reassuring and motivating workers, it’ll be easier to settle in, and in no time, work will return to normal.

Revive demand

The loss of demand during the pandemic was the primary cause of the massive decline we saw in GDP (estimated to be 85 per cent). Companies should create ways to reconnect with their client base, and they should try to stimulate demand.

For this to happen, firms have to find and capture areas of profitable growth, and they need to adopt tactical pricing. This shouldn’t lead to a price war, instead, it should help major clients remain solvent by offering payment facilities and extending payment deadlines.

Companies need to make sure marketing echoes the new reality on ground and make the switch to digital platforms where possible.

Reboot the supply chain and operations

Even though companies will attempt to go back to full capacity as soon as possible, they have to be careful. The restart must match the availability of production materials and customer demand. This may include PPE together with raw materials and other necessary components.

In order to cope with the uncertainty on ground, companies should embrace flexible operations and frequently reviewed programs of production.

Shift Technology and IT to restart mode

CTOs and CIOs had to make quick decisions as they had to close facilities and moved to remote working for most of their staff. They had to use new collaborative software in ways that were secure and efficient.

They also had to expand or create digital channels for clients and had to make sure their tech infrastructure was strong enough to handle the increase.

This new transformation must be in the interest of customers and employees. For instance, the company can create virtual showrooms which allows customers visit shops or dealerships from the comfort of their house.

There should also be increased employee training in areas of cyber security, enhanced data availability and data driven decision making processes. Other practices are improved spending on IT and tech processes and an increase in eCommerce.

The Consultants bvba & its high energy advisors, experts and Do’ers Welcome you. Boosting your business performance is our passion. We combine advise & implementation Our specialties are Pricing, commercial excellence & Lean Six sigma business transformation. We help our clients to create, capture & retain value. Our project durations range from long term to short-term needs of expertise & support. The profiles at The Consultants bvba range from consultants with +10 years of industry background to Phd’s. We deliver in English, French, Dutch & more. The founder Baydhir Badjoko, has worked above 10 years in logistics, maritime, oil & gas, services, finance previous to step in consulting. Aware of the day to day & strategic challenges in companies, the team is committed to create value for companies.

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