#InsightsIn5: Getting ahead of the curve: three pillars for surviving Covid-19

The post-pandemic world of work is set to look very different, but the need to recruit and retain top talent remains the same. How can companies come out on top after the crisis?

As we navigate our way through Covid-19 and begin re-entry into the workplace, we need to ask ourselves how organizations can still deliver attractive and productive work experience to ensure they attract and retain their top talent.

Many of the issues bubbling to the top during the pandemic are issues that may have already existed and just accelerated in this crisis. Being prepared to survive this crisis and come out operating better than before can be a reality if you plan it right. Here are three main pillars for surviving Covid-19:

Liquidity: Cash is king and those that have it will survive and even thrive; those that don’t will fail or find themselves swallowed up by those that do.

Nimbleness: Nimble enough to adapt quickly to either shutter up and weather the storm, change the business format, or chase new revenue streams.

Agility: Reimagining the future and how businesses will operate going forward. Understanding this ahead of the curve is critical in building momentum and exit velocity.

The first two of these pillars will be fundamental to survival; without them, sadly, many will have either folded or come under serious pressure. The third, agility, will be the secret sauce to coming out of coronavirus with an eye on the horizon.

What we do know is that attracting and retaining the best talent to an organization is the lifeblood in order to continue to grow, innovate, and stay ahead of the competition. Those that are successful in this regard will outpace those that are not, but the game has changed in the ‘new normal’, raising many fundamental questions:

Commuting: Once employees have experienced an extended period at home, then the likelihood of people opting to go back to their commuter routines is unlikely. The prospect of a two-hour commute five days a week is the equivalent of 2.3 years of your life during a career.

Real Estate: With a pre-pandemic occupancy rate of less than 50 percent, real estate was already under pressure.  What do organizations do with their shrinking portfolio beyond Covid-19?

Bricks & Mortar Retail: This was already under significant pressure from online retailers such as Amazon. Some retailers have been sufficiently nimble to strike a balance between online and offline, but many have not. Now they stare into the abyss. What becomes of this space?