Business resilience is a measure of how well a company weathers challenges, and the speed with which it subsequently returns to normal operations. Few would disagree that 2020 was the year that differentiated the resilient from those not quite so. However, even as we progress towards mid-2021, several residual challenges persist.
Whereas the current emphasis remains on personal health, the overarching long-term issues unfolding for the world are climate change and sustainability. You can meet them all head-on by building a resilient organization.
The Tenets of Resiliency
Position your organization to contend with change in four areas – personal, organizational, interpersonal, and beyond.
Preparedness – Amidst the tumult of 2020, was there an established (even if not infallible) plan which you implemented for your company? If yes, good; if you were the architect of that plan in less tumultuous times, even better. The foresight to anticipate and prepare for the unexpected gives you an edge above those who lack it. However, it is not static—always look ahead and learn to read the tea leaves relevant to your industry.
Adaptability – Preparedness is a good springboard, but the real challenge lies in adapting to a fluid situation. With innumerable push and pull factors affecting operations, it is crucial that your team can digest variables quickly and adapt accordingly. Pick individuals with the agility to think on their feet as team leaders. Knowledge is important for adaptability—consume data and insight from leaders in the field to develop your own skills.
Collaboration – No person, team, or department is an island. Every success that your company enjoys stems from the concerted efforts of countless people performing well in their individual roles. Today, as we face unprecedented challenges, that coherent sense of unity in shared goals is more important than ever.
Trusted Leadership – The key to trust is consistency. This refers to your resolve to abide by—and apply—the same set of rules regardless of the scenario, the people involved, or your personal perspectives. Whether or not you realize it, there are eyes on you all the time. Those eyes trust what they see more than the words they hear. Show them that they can trust you to lead without fear or favor.
Responsibility – A 2021 Deloitte survey of 2,260 C-level executives and public sector leaders from 21 countries found that they ranked climate change as the top societal issue, ahead of health care, disease prevention, education, and training gaps. It makes sense to adopt environmentally responsible policies. Simply put, a clean, green, peaceful world is generally more likely to have the desire, the money, and the opportunity to buy your products and/or services.
Are you struggling to build a resilient business? Contact me today to discuss ways in which to improve your organization’s resiliency in a turbulent world.