The pandemic has delivered a profound shock to the economy and has impacted many businesses. This crisis could last well into 2021 and beyond. It will shrink the global economy by 5.2 percent this year. According to the World Bank, it represents the deepest recession since World War II, triggering a dramatic rise in extreme poverty. But this crisis can be a good thing for stronger organisations and high performers who can add value to their employers. Employers and employees who can successfully adapt and deal with change and seizing on opportunities will survive. Poorly managed organisations will die. Eventually, they will leave the market.
The speed by which organisations can change direction is not a function of size. Employers must, more than ever in this post-crisis, create a high-performing working environment that is agile and responsive to change and opportunities. These organisations must change faster than their competition or at least as fast as the market is changing. Employers also need the right people — especially Entrepreneurs and Producers — and people with key survival skills who will help their businesses stay afloat, succeed and then thrive.
The reality is that many organisations and businesses will have to scale down their operations to a level that they can become sustainable and profitable once again. They have to focus on maintaining cash flow and preventing their organisation from falling apart. They require the right people to do critical and essential jobs that will keep the organisation alive and responsive to change.
The Key Survival Skills
Employees and workers need to acquire or demonstrate the following key survival skills over the next 12 months (at least) to create value for their employers:
