RE-OPENING BUSINESS AFTER COVID-19: HOW TO PROCEED
REVIVE – SUSTAIN – TRANSFORM
As specific areas of the US market reopen from the pandemic outbreak, business must have a strategic plan to ensure businesses operate smoothly in the new normal. There are broadly three phases a business is recommended to adopt in order to gain momentum. REVIVE-SUSTAIN-TRANSFORM.
THE REVIVE PHASE
During COVID-19 outbreak companies learnt how to manage & operate the business in new ways. Workforces were pushed to adopt remote working & business decisions were made over video conferencing tools like GTM, Zoom, Skype. Now the lockdown has been relaxed and few parts of the country are slowly reopening with safety measures in place, businesses are entering the REVIVE stage.
This is where the following steps become prevalent:
- A comprehensive planning activity to decide critical roles and processes that will dictate the resources and personnel who are required to resume work from offices and differentiating these roles from the employees who can continue working from home. This is essential to maintain employee safety and social distancing.
- Ensure that office spaces are not crowded. An ideal scenario would be to ensure that company premises are only 25% to 50% occupied.
- Paramedic check to every single person in the workplace.
- Rotational Shifts.
- Sanitize regularly and maintain hygiene in the workplace.
THE SUSTAIN PHASE
The second phase of pandemic will be to manage the growth of business. It should be noted that the next 3-6 months, businesses will be operating to “keep the lights on” with a focus on retaining the current customers, delivering essential services and maintaining the operations of the business.
The companies should focus on the below stages in order to maintain their position in the market –
STAGE1 – Protect your business, handle the current situation
STAGE2 – Accelerate up the recovery process
STAGE3 – Plan for the future
STAGE4 – Secure the future and adopt digitization in your business
THE TRANSFORM PHASE
The final phase of reform post-pandemic should comprise of a complete refresh on the Transformation and Digitization of manual work processes. Companies should devote more time to analyze on how they should emerge and transform after the pandemic.
Some questions businesses should ask themselves:
- Can automation & digitization help companies on repetitive tasks?
- Will Automation help agencies manage operations in the new normal?
- Can automation be a catalyst for organic growth during trying times?
The answer would be yes. Exdion is making continuous efforts to revise Insurance Agency business models & strategies in order to help them transform their company with automation effectively –
- Providing expert consulting services & thought leadership workshops in order to assist the agencies/companies to re-think about their business models post COVID-19 outbreak.
- Introduce the new concept of “Remote Project Implementation” in order to create a new business model which can decrease the operational cost for agencies.
- Digital workforce growth and productivity loss compensation strategies.
- Investigate & identify gaps in processes to define the potential to adopt technology solutions.
Talk to the experts at Exdion to know more about how Insurance Agencies can tide through this crisis.