A pandemic, an unexpected change, an inevitable crisis – and many opportunities: how business will change in the future

Darwin argued that the individuals who survive are those who adapt most quickly to a changing environment. The same applies to organizations.

Today's situation resembles the crisis from about a decade ago, which began in the United States as a mortgage crisis and turned into a global financial and economic one. But there is one major difference: today, people cannot work from their usual workplaces and have had to stay at home. The emergence of the coronavirus and the pandemic it caused will certainly change the world and leave a mark on history.

But this pandemic has brought more than a global economic crisis. It has completely changed how businesses function and how management operates. The measures introduced have pushed companies to transform in several directions: new channels for products and services have emerged; many companies moved to remote work and realized it was possible; employees working from home proved that they could do their jobs fully, even from their own homes; video conferences became part of everyday life, and managers learned to delegate and track results successfully from a distance.

All of this proves that despite the need for rapid adaptation, the rising unemployment, and the decline in supply and demand, the situation also creates a number of opportunities.

In this article, we will look at change from three perspectives: organizations, management, and sales.

Change for organizations

Alongside the severe health and humanitarian crisis, company leaders around the world are facing major business challenges, including: a collapse in consumer demand; significant regulatory changes; disruption of supply chains caused by social distancing; unemployment; economic recession; and increased market uncertainty.

For this reason, businesses need a recovery plan, and postponing it temporarily will not work for long. Companies need to take action now.

It will be very important for organizations to have a clear and specific goal that is recognized and shared by everyone in the company. Analyzing the situation the company is in, as well as the environment in which it operates, is essential for building an action plan. Sometimes, only small improvements are needed to create a significant effect on results. Factors that will influence success include: focusing people's efforts on what can be done now, despite the difficult and challenging situation; focusing on customers and their needs.

Companies need to adapt their strategy quickly to the changed environment. Assessing current results and prioritizing activities according to the most important drivers of company value will be key. Attracting the right customers and meeting their needs will lead to better use of resources and help companies deal with difficulties.

Change for management

Companies are changing, and the models that have been standardized so far will not work as effectively in the new situation. We are used to management being based on requirements and control, on a clearly defined hierarchy, and on a division between those with authority and those who execute. This model is built on a very clear separation of each employee's activities within the company. At times, this can limit employees, but on the other hand, standards create efficiency – and this was a very good model in a world where things were predictable.

Efficiency, however, does not necessarily mean resilience. To be resilient means to adapt, and adaptability requires giving people the freedom to be themselves.

Individuality and personalization may look chaotic, and we tend to believe, mistakenly, that chaos is bad. Standardization, on the other hand, looks efficient, and we also tend to believe, mistakenly, that it is the most successful choice. Moving from standardized management toward management through personalization may be one of the first steps in adapting.

Today, it will be very important for leaders to be brave enough to be compassionate. To allow each person to have an impact in their own way. To listen through action. Leaders need to be the ones who remove barriers. They need to give people the freedom to create new conditions for expanding both their own capacity and the capacity of the organization. It is important for them to be brave enough to set aside KPIs that are no longer relevant, even if that means appearing unsuccessful in the eyes of those who still continue to follow those indicators.

In the midst of a crisis like this, organizations need leaders who can act quickly, adapt to change, and lead their teams without fear. At the same time, companies also need people who trust one another and give their best for the organization's success. Leaders often focus on the work that has been done, but they should never forget the people who did it.

How change affects sales

The pandemic has also had a major impact on sales. Although many of the things that mattered before will continue to matter in the future, the change in the main sales channels is undeniable. Very quickly, we moved from direct face-to-face sales to online stores, video calls, and phone sales.

And when we talk about "sales," we are not referring only to the work of frontline employees who have the first direct contact with the customer. Their role is, of course, important. But what is key for the business is customer satisfaction after someone has chosen our product or service. In every organization, customers follow a unique path – what we call the customer journey. This journey includes: the process of recognizing the customer need; the decision to accept our offer; and the service the customer receives afterwards.

In this changing world, however, one thing is certain: a positive customer experience is the link between growing sales and competitiveness.

The customer journey has many touchpoints between the customer and the organization. Research in the field suggests that what matters most in this process is the impact of the interaction between them. Given the distance, everyone involved in customer service needs to be more sensitive both to what is happening and to customers' emotions.

Data from an international study among 5,500 consumers shows that more than half report feeling irritated when they have not spoken to a real person on the phone, have been transferred from one line to another, or have been left on hold for too long. Most of them say they prefer personal contact, but the current situation means that remote communication is dominant.

What we can do is improve employees' skills. Emotional intelligence will be very important in overall communication with customers, especially when they have doubts, concerns, or feel disappointed in some way. Key customer service skills will also include asking questions and active listening with real understanding of the customer's needs.

Because no two customers are the same, customer service also needs to be individual. This is harder to achieve from a distance, but organizations still need to direct their efforts toward a more personalized approach. This individual approach should be applied across all remote communication channels – video calls, phone calls, and emails. At the same time, we should not overlook the fact that building loyalty remotely is difficult and not always suitable for creating long-term loyal customers.

In closing

If we look back in time, we will see that change is a continuous process. It existed in the past, it exists now, and it will continue to exist in the future. It happens in different ways, brings different challenges, and requires different methods of response. It is up to us to accept it and try to adapt. This crisis, after all, will also come to an end.

Research shows that most organizations are managing to cope with the challenges and are treating their employees, customers, suppliers, and partners with respect. Nevertheless, they need to continue monitoring the situation and ensure that they maintain high levels of integrity not only today, but also in the future.

Now is the time to look deeper, to try to maintain high standards, to recognize the potential new threats this situation creates, and to lay the foundations for new business growth.