Newsletter May 2020 SINGAPORE
Covid19- How Partners/Managers can prepare for the New Normal We are spending time differently from the moment we get up in the morning to the time we go to bed. We are working differently, educating our kids differently, celebrating birthdays and holidays online, even having virtual cocktail hours. In short, the way things were at the beginning of March is very different from how things are today. But we know things won’t stay this way forever. Which leads to the question:
The resilience required to survive and thrive in a crisis is fuelled by the energy that emanates from knowing why what you do really matters and recommitting to it under pressure. If your purpose is still applicable tomorrow, then staying strong in that pursuit matters more than ever. Reminding your team why you exist and what you’re all working for is critical to inspiring and motivating a potentially beleaguered organisation.
“ What can we do now to prepare for when things change again and return to a new normal?”
2. Be prepared to “call an audible”
The time to prepare for tomorrow’s success is today. Here are five steps to take. 1. Take a gut check on your organisational purpose This crisis—or any test—is a good time to ask, “Does our purpose, business or profession still matter? Do we still believe in our mission as much as we did before?” Are quality audits still relevant? Will regulators do away with audits henceforth and direct and Indirect taxation become extinct?
In football, quarterbacks can change the play at the last second based on how the defence lines up. He will call out a new play after his teammates are lined up, and they will make changes to their assignments in real time. This behaviour is applicable to the business world, too. Partners must be ready to signal out, especially in times when things are changing by the minute. Yes, prepared strategies are critical, but strategies need to change as the environment changes. Take the restaurant industry during COVID-19. With dining rooms shuttered, a growing number of restaurants are offering a to-go burger with toilet paper, too, or spaghetti and meatballs with a bag of flour on the side. Consumers can buy groceries without venturing into a crowded store and get their family’s favourite dinner at the same time. The foodservice industry is pivoting while keeping its core mission intact.
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