C-Suite Blind Spot – 2021 Building off the 2020 Experience – A Foundation of Strength

Blind Spot

There is no doubt that 2020 has been one of the most challenging business years since WWII or the Great Depression. Whatever your industry or company size, senior teams have been thrust into crisis mode, followed by survival mode, and are now preparing to enter 2021, future mode.

What this future mode looks like will vary dramatically based on your industry’s outlook and the pandemic’s impact on your customer demand. However, almost every company is being faced with many of the same challenges, maybe just in different ways. Workplace safety, security, wellness, corporate culture, etc. are all areas that have come under intense scrutiny by senior management in an effort to survive and thrive during these unprecedented times.

Does an intense, all-encompassing, companywide review of all functional areas provide senior teams an opportunity? Can management at all levels benefit and build off their efforts and use the lessons learned to transform their organizations?

Illumination

The Harvard Business Review recently pointed out that the history of “shock events” such as COVID19 to the business world is not always negative. Even in severe economic downturns some companies can gain significant growth and profit advantages. While crises produce an overabundance of temporary changes and negative experiences, they also present the potential for positive long-term opportunities.

Taking this into perspective, the potential for positive outcomes for some businesses in the aftermath of the effects of the pandemic is not an unrealistic expectation. The foundations to achieve this has already been laid by companies that have had to strip their structures down and reinvent themselves in order to survive. Businesses that are experiencing positive growth demand during this phase are also poised to tap into this even more moving ahead. If management makes it a priority to capitalize in the areas they are able to opportunities can continue to abound.

As management teams work to transform their companies and prepare to enter 2021, strategic opportunities exist like never before. The climate, mindset and culture for business transformation is open and opportunities for growth and evolution can be uncovered by re-examining areas of:

· Market Assessment – Growth and Niche

· Business Model Refinement and if necessary, Pivoting

· Product & Service Innovation

· Supply Chain composition and location

Many of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. When winning or losing are the only two choices, choose to win.

C-Suite Blind Spot – Back to the On-site Workplace – Trust & its Effect on Corporate Culture

Blind Spot

Over the past few months, large corporations such as AbbVie, L’Oréal, JP Morgan, and others have announced major back to work efforts. Similarly, organizations like Johnson &Johnson, Novartis, Bank of America and Kylie Cosmetics are reporting a phased or voluntary return to work approach. Although many media and consulting companies seem to anticipate wide acceptance and more permanent implementation of the remote workforce, many corporations are pushing for a return to their corporate on-site workplace environments. Many manufacturing, non-tech and service-oriented corporations are not fully embracing the remote workforce concept. One of the key reasons being the possible negative effects on corporate culture.

Concerns regarding how a majority remote workforce can negatively affect corporate culture is valid. Can a return to work policy that lacks clarity or clearly defined steps for implementation in itself cause damage the corporate culture? As employees return to on-site work how can the C-Suite ensure that connections are recreated? How do teams begin the process of reintegration to getting back to the way things were?

Illumination

As corporations recall their workforce back to the on-site premises with no prior experience to rely on, unanticipated challenges are surfacing. Recent articles published regarding “employee return to the on-site workplace efforts” by CNBC raises the point that many employees have expressed fear and anxiety about returning to work.

The Business Insider, CNN Business, the BBC, Edelman, among others have also pointed to the fact that employees have expressed mistrust about return to work plans, have safety and wellness concerns, some feel pressure that their employment is dependent on their returning to on-site work. These perceptions in part explain why a majority of employees favor the work from home model. However, it’s a model that does not appear to be sustainable over the long-term for many corporations.

As C-Suites guide and implement back to work efforts they should be careful to ensure that these efforts do not damage the corporate cultures but rather strengthen it. Executives seeking to strengthen corporate cultures should:

· Obtain Board buy-in for a realistic long-term actionable plan

· Ensure consistency through all management ranks

· Consider appointing a C-suite executive as a point of accountability for smooth implementation

· Promote engagement, encourage employee input and feedback throughout the process

Many of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. When winning or losing are the only two choices, choose to win.

C-Suite Blind Spot – What’s Next in Hybrid – The birth of a Chief Health & Wellness Officer

Blind Spot

COVID19 is a health-centered issue impacting just about every function within corporations today. As they brace to re-enter a second wave of the pandemic, the C-Suite will have to again face the critical issue of how to plan and adjust for the impact and uncertainty this will undoubtedly bring. Health centered issues however, do not fall under the purview or within the expertise of most C-Suite executives.

Issues like enhanced safety protocols, remote and return to work stress and wellness related challenges are areas that demand focus and attention in the current climate. How customers and employees interact, employees’ comfort level with how relevant COVID-related information is communicated internally, as well as the level of trust the public has that businesses are taking appropriate safety measures are also issues of importance. Prior to the onset of COVID19 these issues simply did not exist or were not given the scrutiny they are today. Has this pandemic given birth to the need for a new leadership position?

The position of Wellness Expert has increased within corporations over the past few years in a limited capacity. Might this role evolve into a senior leadership capacity moving forward?

Illumination

The volatility created by the onset of this global challenge requires that businesses be flexible to adapt and evolve to deal with both the internal and external resulting factors. It is becoming apparent that the corporate structure as it exists is not aptly equipped to deal with the enhanced health and safety requirements without direction and assistance from experts in those areas. This is supported by experts in the field such as Michelle Williams, Dean of Harvard School of Public Health. Williams is envisioning that companies will look into more regularly integrate public health issues into business plans and the possibility of creating a public health leadership officer position. Further, global organizational consulting firm, Korn Ferry has noted recent increase from companies interested in adding individuals with health expertise to their leadership teams.

A recent global survey by Edelman a global communications firm, showed that only 14% of employees were confident in the CEO and senior managers’ ability to make decisions related to return to work mandates as it pertains to their health and safety. As each corporation endeavors to make the best decision for their workforce, there is value in adding an experienced health expert to the leadership team. In this way companies will be better equipped to bridge the “trust gap” with employees having every confidence that decisions directly impacting their health and well-being are being steered by experts in the field who can:

· Develop effective and sustainable work place health, wellness and safety programs

· Provide a steady flow of reliable, up-to-date and fact-based information

· Access and utilize reliable data extensively and efficiently

Most of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. Executives may want to approach their blind spots similarly. When winning or losing are the only two choices, build a team and choose to win.