Top trends for reimagining businesses in 2021
In response, company leaders must reimagine certain aspects of their business strategy. Here we look at five top trends that will play a part in achieving common goals in the year ahead: purpose, compassion, inclusion, mental health and capability.
Purpose
Having purpose in a job is a critical motivator for every single one of us. It makes us feel connected to a united goal and gives us a sense of meaning in the work we do. For organisations to succeed in this virtual world, leaders must strive to bring people together around an explicit, common purpose.
This clearly defined call to action will shape the future of a successful business and should include a narrative around the company heritage, culture and values. A fresh and inspiring purpose will result in heightened focus, enhanced co-operation and innovation, and it will act as a magnet for high calibre talent.
Compassion
A compassionate organisation is one whose leaders generate and maintain honest relationships with their people. Compassionate leaders have the ability and desire to empathise and are willing to show their own vulnerability. Despite endless distractions, they get to know the real people beyond the screen and are truly present during conversations. This unlocks healthy adult conversations, bringing new energy to organisations.
When compassion is written into a code of conduct and embedded in behaviour, the result is an open organisation based on trust. People will engage on a deeper level, display more intense loyalty and feel greater job satisfaction.
Inclusion
Organisations which can truly demonstrate inclusion will thrive in a reimagined world. When a wide range of people from all walks of life have an equal opportunity to perform, when they are united by a clear purpose within a culture of trust, then despite the ongoing challenges, a high performing organisation will emerge.
Organisations need the courage to scrutinise their own gender and ethnicity status. This can help to inform future strategy, adapt day-to-day processes, deliver networking programmes and visibly bridge unfair pay gaps.
Mental health
It’s clearly documented that 2020 brought about a serious decline in mental health. The impact of anxiety, isolation, work overload or burnout, reduced job security, raised financial concerns and grief will be felt for many years.
Leaders who demonstrate authenticity, empathy and a willingness to share their own experiences will make great inroads into breaking down the stigma attached to mental health. Transparent, open communication helps dedicated and visible mental health first aiders to recognise and act on danger signs. Employee interactions can be used to inform a mental health and wellbeing strategy, while confidential helplines and Employee Assistance Programmes can address the needs of many people who are suffering.
Embedding ‘employee experience’ into culture must be high on every organisations’ agenda.
Capability
Founding father of the United States, Benjamin Franklin, famously said “change is the only constant in life”. Our new reality revolves around dealing with the seismic shifts emerging from this virtual world, alongside rapid advancements in technology.
Critical areas of change will include; the definition of people’s roles, what ‘good’ looks like and the reach of our talent pool. This evolution brings fresh opportunities to forensically analyse what capabilities are needed in order to deliver the clear purpose of the organisation. Smart organisations will innovate when it comes to acquiring the best talent and will recruit the best fit to deliver energy and passion for a brand.
To summarise, it is crucial to bring people together and deliver a robust structure and strategy which will help organisations through the challenging journey ahead:
- establish and communicate a crystal clear purpose;
- develop conscious, compassionate leadership which drives inclusivity to enhance employee experience; and
- shine a spotlight on identifying the capabilities required and how they can best be delivered.
You can find articles and further information on the trends that are shaping our common business strategies on the Simplyhealth Insights Hub.
This article is provided by Simplyhealth.
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