As the global marketplace continues to shift, we explore crucial skills every team needs to be successful…
What does business success look like in today’s world? Especially when confronted with the threat of a global pandemic… One thing is certain: if you don’t have the right team and tools to carry out your vision, review, implement, and adjust your plan, you’re setting yourself up for failure.
To be efficient and practical, businesses must prioritize change management. This may appear to be a huge task, but it is key to discovering strategies to ensure that necessary periods of change are handled well. Periodic evaluation, monitoring, and adjustments are required at every level to detect and minimize risk as early as possible, as well as to determine what is required to ensure efficiency and adaptability. Here are two crucial aspects to consider:
Talent
For almost every company, the most important asset is its people, so acquiring, managing, and retaining human capital is a strategic priority. Without the right employees, a business is likely to struggle with poor productivity, bad decision-making and unmotivated staff. These factors make it difficult for a business to remain stable in a competitive market.
Talent, without a doubt, drives corporate efficiency and profits, so it goes without saying that a strong talent strategy puts businesses in a better position to succeed. This starts with employers recruiting and selecting applicants who will share the organization’s beliefs and thrive in that culture, developing orientation, training and performance management programs that outline and reinforce the organization’s core values, and ensure that appropriate rewards and recognition go to employees who truly embody the values. (SHRM)
A solid talent plan looks ahead, considering hiring, employee advancement and succession.
Culture
Are you cementing your relationship with your team to make sure your business is strong enough to battle challenges? Are you certain your team is passionate, invested and on board for the long haul? Then you already have a clear understanding of why organizational culture (also called company culture) is so important.
Company culture refers to the attitudes and behaviors of a company and its employees. It is evident in the way an organization’s people interact with each other, the values they hold, the decisions they make, and encompasses a variety of elements, including work environment, company mission, leadership style, values, ethics, expectations, and goals.[2]
[1] Tech Target — What Is Talent Acquisition?
[2] —Harvard Business Review: What Is Organisational Culture And Why Should We Care?
SHRM aptly explains that when an organization has a strong culture, employees know how top management wants them to respond to any situation and believe the expected response is the proper one.[1]
This is especially essential when we examine Breathe HR‘s definition: company culture is how a company cultivates business growth by offering each employee a voice, while encouraging healthy day-to-day attitudes, behaviours and work ethics to set the foundations for tangible business growth. This, they outlined, is based on honest, productive conversations, and helps companies to identify issues and collectively form resolutions. [2]
Since we’re in a pandemic, culture should be the first thing organizations look at, as it becomes particularly crucial in times of stress. Employees who are familiar with the company, feel at ease identifying with its values and purpose, and trust their leadership, will have a much better chance of succeeding.
The conclusion is that change is more constant in the workplace than it has ever been. This requires agility and an instinct for seeing and seizing possibilities in all aspects of business. Check in on your plan and your team frequently to ensure you’re still on track for success.
Still not sure if your company is positioned for growth? Click here now to try our free talent assessment tool!
[1] SHRM—Understanding And Developing Organizational Culture
[2] Breathe HR — What Is Company Culture And Why Is It Important?