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17, 2020

8 minutes of reading

Opinions are described Entrepreneur their contributors.

The global COVID-19 crisis has forced thousands of companies to switch to the first digital model – almost overnight. This abrupt rate of change, though painful, is by no means insurmountable. Most companies over the past decade have provided most of their employees with the necessary tools to work from home (e.g., smartphones, laptops, cloud drives, collaboration apps, and chat channels), but neither employees nor executives at this company have found that they will switch to what is perhaps the most effective way to work – so far. Digital transformation programs are replacing programs that in the past were like failures high as 70% see renaissance as the level of success has crept in at a time when everything else seems to be falling apart.

Not only global crises are forcing companies to change. Any form of existentialist threat, as it is, contributes to both managers and employees shifting gears into the company. Apple faced an extraordinary crisis in 1997 – a drop in stock prices to a 12-year low and a tight brush with bankruptcy – that proved to be enough catalyst for the board to bring it back Steve Jobs. Steve shifted his focus from exclusively selling computers to selling music players and related services (and eventually the iPhone). Marvel, on the other hand, filed for bankruptcy 1996, which led to new property rights as well as a strategic relocation from comics to a wider sign of entertainment properties. Bad is what has led to the now legendary Iron Man 2008 film.

Prior to these crises, these companies could change direction – they lacked the data and opinions that prevented them from doing so – but they remained in the stasis until it was too late. While Apple and Marvel were lucky enough to relive their death experiences, such as Kodak, Nokia, Blockbuster were not.

Related: COVID-19 will fuel the next wave of innovation

So why do companies need a crisis to change for the better? Don’t they manage rational, highly skilled executives who are strongly encouraged to detect a change in tides before it hits the ship? Don’t employees constantly train to accept change and improve the company every day? One way to understand this seemingly irrational behavior of companies is to compare it with the equally bizarre behavior of us humans, who too often wait for a crisis before changing destructive habits.

Here are three common brakes that vary for both companies and individuals:

1. Removing anxiety usually has priority

In the 1950s, the research group was called ” Tavistock The Institute in London tried to understand people’s resistance to change. It happened while tracking nurses in the wards. The nurses followed strict and repetitive medication and control procedures, although they meant waking patients from what would otherwise require (and is recommended by a doctor) sleep. The doctors of this department noticed the problem and gave the medical staff new procedures to follow, but the paramedics continued to follow. old procedures – although it was bad for patients. Why? Researchers from Tevistock hypothesized that nurses dealt with a very difficult situation where sick people could succumb to illness on a watch, and so nurses protected themselves from this anxiety by following rituals with which they were comfortable. Meanwhile, doctors did not train and did not support nurses in adopting new procedures. Doctors just released new treatments … and then waited for a change.

We are moving forward to today’s workforce and we see that many leaders are behaving like those doctors. These leaders recognize that the company must change to survive. However, in most cases, executives simply retell suggestions to nurses on how to “improve the situation,” hoping that they will comply and make them “switch”. Old procedures (which helped curb anxiety) are aggressively exposed to work, while staff are asked to develop new ones on their own, without much vision, sensitivity and instruction. This lack of support creates stress, and employees calm down by retreating from old processes and practices. Faster what resistance to change looks like.

The crisis is changing all that. This creates a tidal wave of anxiety, and urgency feels much worse than anything the organization has faced before. Outdated rituals cease to be a comfort. It is becoming clear that new procedures and systems are needed. Suddenly the company, from its executives to employees, finds the courage, the company and the impetus for change. If they are lucky and the deadlines come, the company lives to fight another day.

2. Rewards for change are usually too far away

Every year in January gyms are seen spicy thorn in memberships … only to see them disappear in the coming months. This phenomenon is not only funny but also surprising. Why would an ordinary adult invest a little money and time every month to provide them with a long and healthy life? The answer is simple: the consequences of not going to the gym for an ordinary 30-year-old will only be felt in 20 years. This deferred reward for a healthier life in exchange for a painful workout at the gym today pales in comparison to having to stay home and bite The king of the tiger.

The same goes for companies. The start-up of a candidate, a new business model and a major technological breakthrough – all factors that have a measurable impact on a company’s future – sometimes come into full force only after the CEO is engaged in the company. . However, bonuses, promotions and improvements on the back are related to performance today. Theoretically, stock prices as an incentive should take into account both current performance and expected future results of the company. However, in real life stock prices are quite volatile and can easily keep management teams focused on quarterly results, with a longer-term perspective in the background.

The crisis is wiping out, for example, the one-sided net reward system. Without immediate bonuses and incentive programs to optimize, due to lower financial condition and stock prices, managers are forced to go back to basics and think about the long-term prospects of the company. Previously, the protection statuses of various departments became open for interrogation. Budgets that have been changing for a long time are being sorted out, and the company’s vision and mission are under a microscope. The reward for overcoming the crisis by making drastic changes to the company’s work and competition becomes more lucrative thanks to the vacuum left in the previous reward system.

3. Social status is valuable

Companies, like people, believe that their peer social status is very valuable. The press releases are published as a clockwork, wax lyrical film about financial financial performance (no matter how phased) as well as about intellectual prowess at the top. guide responsible for such averages. Losing a face, so to speak, is an awkward prospect in terms of social value, and summing up a company through widely publicized change means owning the fact that something isn’t working on the plan. The weight of years of carefully maintained public image is a discounted price that most companies find hard to ignore. By the way no bearing in mind the need for change, top leaders lower any internal impulse provided by various change programs.

The crisis is changing that. He very quickly dismantles the image of the company’s society, removing the burden of “saving face” almost overnight. This is especially true for the current COVID-19 crisis, when almost every company suffers and is ashamed to admit that change takes an hour. It’s like watching news about an unrecognizable post-quarantine Kylie Jenner Companies in the sweat have found social value and momentum in knowing this everything of them are similar to madam. Jenner in 2020.

The three drivers discussed are a strong lesson for entrepreneurs, leaders and councils. If you can actively manage organizational anxiety during change (instead of avoiding or stifling), rewarding longer work results and not worrying too much about your business’s optics, you can make a change before the crisis does it for you.


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