By Jessica Salerno, OSCPA senior content manager
Businesses that have figured out how to operate successfully during COVID should now begin considering what the transition into a post-COVID world looks like.
“We've gone through this period where we were all in survival mode,” said John Cavalier, partner, management consulting at Cohen & Company in Cleveland. “And now we're quickly ramping up to an accelerating into growth mode, and to take that time to hit the pause button and do that planning is not easy.”
Cavalier joined the State of Business podcast to discuss lessons businesses should incorporate after the pandemic, and wrote a blog post called “3 Critical Lessons to Incorporate into Your Business in a Post-COVID World.” He mentioned executives excel at thinking of big ideas and ways to evolve, but for those ideas to work in the long-term, they need to consider if the organization is even capable of executing those ideas.
“Now is really the opportunity for a lot of organizations to say, ‘Where are we going?’” he said. “And what do we need to effectively support where we're going and really position ourselves as a leader in you being able to differentiate ourselves and be more competitive?”
As business needs evolve, so should the staff, Cavalier said. The roles before and during the pandemic that were needed might change in the future, and it’s beneficial to have agile employees who can adapt to the new environment. Investing in key talent is one of the lessons businesses need to take, he said.
“We don't necessarily need someone who is really strong in one capability but rather, someone who's more well-rounded,” Cavalier said. “This person is more of a Swiss Army knife, rather than that person that only focuses on accounts payable.”
He said coming up with a new strategy or adapting your hiring approach aren’t transitions that happen overnight, but rather should be something to consider and commit to when understanding how to best position your business for the future.
“It really comes down to having that vision and strategy across your organization,” Cavalier said. “And have that be well understood by everyone on the team.”
Listen to the episode now to hear the other lessons businesses should learn.