As the world continues to be disrupted through the challenges posed by the new normal, both individuals and corporates are on the constant lookout for ways to stay afloat in spite of the drastic effects brought on by the massive economic and health crisis.
With that being said, change is surely the only constant for businesses that continue to stand today. As supported by an article published on ManagementStudyGuide.com, “companies and leaders who lead [these businesses] should be prepared to deal with change that is rapid and sudden at the same time”.
It then becomes clear that part of the challenge in overcoming these tough times lie in the hands of leaders as they identify the need to recalibrate their businesses, teams and even themselves in order to meet the demands of the new normal.
In this article, we will be sharing some information on how you can deal with this plight through a four-pronged strategy we call – The 4 ‘R’s of the new eRa: re-envision, restart, reframe and reinvent.
Why Should You Look Into This?
With the rapid changes taking place around the world, some countries are slowly easing back into normal while other countries that might have progressed too early could be struggling with staying ahead of things. Businesses are also similarly affected as they move in parallel to the progress of the nation that they operate in as well.
As leaders of your corporations, you may find yourself looking inwards to identify areas of improvement that will help you respond more fluidly to the changes taking place around you and your company.
Hence, this is also the best time to hit the pause button and reflect on how you as well as your business are being affected by these changes. This short break of reflection can help you realise what is working out in your favour and what is not.
More About Re-Envision
Re-envisioning the future is critical to maintaining the sustenance of a business in a post-Covid 19 world that is expected to come sooner than later.
The first ‘R’ of the new eRa is re-envision. With the possibilities of a dynamic digital future that lies ahead of us for the next generation, it is pertinent for leaders to figure out how they will want to “respond in the face of constant disruption”.
As such, to re-envision is all about understanding what was, what is and what is to come. As “a new agenda for change” emerges, the global economy needs leadership that embraces a new way of thinking and a new way of working.
The first stage of re-envisioning priorities, goals and challenges can thus help an organisation and its employees better prepare themselves to tackle the new normal in a more orderly fashion.
More About Restart
The second ‘R’ of the new eRa delves straight into action, after the first stage of re-envisioning, imagining and reflection has taken place.
Regardless of whether your business might require employees to get back into the field, or in the event that your company moves along with the process of digitalisation and shifts to a work from home basis, leaders will undoubtedly see the impending need to restart the workplace culture.
In a recent survey conducted by SHRM, it was found that 61% of employees agreed that building trust between their management and themselves is fundamental to their job satisfaction. However, only 33% of them were satisfied with the level of trust that existed in their organisations.
The results from this survey alone highlights the absolute need for leaders to focus their attention on rebuilding the workplace culture within their organisations.
As such, restarting the workplace cultures of companies could be the first that leaders take as they ease back into work after the new normal.
More About Reframe
The third ‘R’ of the new eRa further dives into the stages of action as it requires individuals to reframe their purpose in life.
After having gained insights on how re-strategising can better propel a business forward, as well as understanding the need to change, upgrade and evolve with times, leaders can encourage the idea of reframing purposes within their companies to meet the demands of the new normal.
Keeping an open mind to take on fresh and different perspectives is essential to aligning the purpose of both self and organisation during such challenging times.
Realigning the purpose of an organisation can help the company to work on its internal coordination amongst employees, encourage better work focus and improve the ethics system too.
At the same time, realigning the purpose of one’s self can ensure that the investment which leaders make in the development of their company is targeted and reflects the strategic direction of the corporation as well.
Reframing of purposes can, in turn, also promote transformative change and improve employee engagement within the company.
More About Re-Invent
When it comes to the final stage of reinvention, Dan Millman, author of Way of the Peaceful Warrior, offered one suggestion when he wrote, “The secret of change is to focus all of your energy, not on fighting the old, but on building the new.”
The fourth ‘R’ of the new eRa asks individuals to reinvent themselves and their organisations. It is at this stage where the need to stop, transform and evolve becomes most obvious and pertinent to leaders.
As Matthew S. Olsen and Derek Van Bever demonstrate in their book Stall Points, once a company runs up against a major stall in its growth, it has less than a 10% chance of ever fully recovering.
Recognising the appropriate time to stop and reinvent yourself while understanding that a temporary failure can lead to success and growth in the future, is key to picking oneself up in times of crisis.
In conclusion, re-envision, restart, reframe and reinvent are the 4 ‘R’s of the new eRa. It can prepare you to tackle the challenges posed by the new normal head on.
We hope this sharing has provided you with some useful insights and will be back with another written piece on the other 3 ‘R’s of the new eRa. In the meantime, to re-envision would be a wise first step to take on after all!
StrengthsAsia has helped many individual and corporate clients all throughout the region in empowering leaders by enabling breakthrough experiences for both leaders and followers. If you want to learn more about our StrengthsFinder Leadership Development or StrengthsFinder Team Building Program, feel free to reach out to us here.