Business resilience is defined as an organization’s ability to act quickly and efficiently to adapt to potentially hindering disruptions while maintaining business operations, assets, employee security, and overall brand equity. Over the last two years, the biggest hindrance to almost every industry was, quite obviously, the Covid-19 pandemic.
Anything from cybersecurity threats to external environmental factors can sacrifice a business’s success. To avoid scrambling for solutions when these situations occur, it’s always best to be retroactive by strengthening the resiliency of your business and team as we head into 2022 and for years to come.
Business culture, leadership, and discipline are compulsory considerations when developing a plan of action towards heightened resilience. The best change program methodologies are those that are logical, tactical, employee-focused, well-planned, and incorporate achievement recognition.
Now, let’s look at some ways you can arrange an effective plan for resiliency for your business.
1. Maintaining a Successful Business Culture
The culture of a business is essentially its personality. All values, behaviors, and beliefs define your business and can be essential factors in determining its future success. Open and effective two-way communication amongst leadership and employees is the key to creating a healthy business culture. Revisit and refine the three pillars of your business culture (mission, values, and vision) so that they align with your ideal culture and strategy. Ensure that all individuals working for your company understand these pillars and be open to their feedback. Forming meaningful relationships with your team helps understand their roles and their contribution to the organization, which will keep them focused and motivated.
As a leader, model your mission, values, and vision as you map out your business development, operations, and planning processes. If any part of your developed business culture structure impedes your organization’s goals, revisit them. If, as a leader, you cannot protect and support the elements of your business culture that are meant to ensure the success of your business, your team will eventually begin to tear apart at the seams.
2. Emphasis on Execution
Regardless of industry, every organization should have a formal risk-management plan. Risk management plans evaluate economic risks that could harm the company. All risks should be reevaluated quarterly by your Board of Directors and yourself as the business owner. Upon evaluation, make it a firm goal to stay relentlessly focused on assessing and maybe even revising the tools, processes, and financial resources that make up your shield from threats and challenges of all kinds.
3. Organized & Attentive Leadership
Continually monitor all levels of leadership within your organization. Strong and adaptive leaders play an essential role in business growth, culture, and yes, resilience. You cannot hone a successful business if you don’t prioritize the well-being and mental health of your employees. Develop and ensure a commitment of care and employee wellbeing so your employees feel valued not only as a worker but as a person. Stay alert and act quickly in times of uncertainty or change. Doing so keeps workers emotionally protected which in turn allows them to be as productive as ever to work through challenging times.
The pandemic brought a lot of attention to the importance of business resiliency. Companies with weak internal structures failed in an unfortunate amount of time. Others who were more resilient came out on the other side– maybe even stronger than before. Be prepared this year, and every year, for high-risk situations and begin developing a strong change program sooner rather than later.