As the COVID-19 scare shuts the world down for business, the UAE corporate world is worried about the well-being of their employees and their business. Till last month, the elite club of UAE's chief executives had a long list of woes. After a few days, everything started to de-clutter as the pandemic started to take a tight grip over the Middle East countries. And, the impact of the pandemic was huge.
It started with travel restrictions then, with Social isolation, later, declaring national emergency which had an immediate impact on industries that cluster people such as conferences, trade shows, airlines/cruise ships and all types of travel, the hospitality industry, sporting events, theatre and movies, malls, restaurants and schools.
While the large companies asked employees to work at home, retail chains and small businesses had to shut down their stores or operations. The UAE businesses focus is now cantered on only one thing- that is survival.
The aftermath of the crisis when everything gets clear, the scene turns in favour of the fittest. What are the immediate measures you can take at this moment to recover? Here are 6 immediate strategies to help you to recover the aftermath of the Coronavirus Crisis.
1. Lead Upfront
When the world is extremely worried and concerned, leadership is about leading from the front. However, true leadership is tested in a crisis, where leaders need to accumulate the collective wisdom of people around, but still, have the ability to take critical decisions themselves even if it means risking their own reputation. This is important to steer your organisation through tough times and be in a position to provide service to society and livelihood to people who depend on you.
You need to take decisive actions even at times it may go wrong. You have to do what you think is best. And communicate constantly. Your employees and other stakeholders will want to hear from you during tough times. So make sure you do it at the right time.
2. Develop a Coping Strategy
In these defining times, it is crucial to reflect on your business core values and further strengthen the consumer trust in the after-sales service.
Revise your sales revenue goals and product timelines, create a new business model and operating plan, and communicate them clearly to your investors and then to your employees. Keep your people focused on an achievable plan they clearly understand.
3. Implement a work from home strategy
Define rules and boundaries to maintain a peaceful coexistence of work and personal life. Factor in scheduled breaks to keep things light and flexible while remaining productive. Work from home may help you to cancel unnecessary meetings which were consuming a lot of time at the office and to work efficiently.
4. Practice Resilience
Practising resilience is the way forward. As an individual and organisation, you need to be cautiously optimistic and consciously prepare for adverse conditions where things might not be in your control and simultaneously plan to explore the opportunities ahead.
5. Collaborate together in the bad times
In such uncertain times, the global community should come together to collaborate, share knowledge and counter this outbreak. Staying calm and focused and building resilience and confidence among key stakeholders also play a crucial role. It is important for all of us to show kindness and compassion towards one another and extend help wherever required. It will help demonstrate your company's culture and values.
6. Make Every Crisis an Opportunity
Every crisis teaches some lessons and offers you an opportunity. Therefore, never let any crisis go wasted. Use it as a teaching moment and as an opportunity for your team to come closer and work at an even greater productivity level.
Get your leadership and HR teams to keep your employees motivated and productive. Utilize this time to upskill and offer Corporate training to your people. At the same time, you can also encourage your employees to take up a skill that is beyond their scope of work. Learning a new skill is an exciting way to keep busy and stay sharp in any challenging times.
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