Companies Say They are Ready for the New Normal

Companies Say They are Ready for the New Normal

June 24, 2020
The biggest business impact is on delivery channels as 61% have changed how they deliver products and services to customers.

While there are many uncertainties around COVID-19, ranging from its economic impact to the potential for a second wave, an APQC survey found that businesses are already largely pivoting to building resiliency and planning for their post-pandemic futures.

Specifically, 82% of respondents indicate they are confident (45%) or very confident (37%) in their organization’s ability to pivot to the “new normal.”

The biggest challenge according to respondents, now and for the next 90 days, is not how to safely return to work but budget cuts and constraints.

 “Our survey found that people have a pretty positive view about how their organizations have already responded to the unprecedented disruption and how they are planning for what is certain to be a changed environment going forward,” said Holly Lyke-Ho-Gland, principal research lead for APQC’s Process and Performance Management practice.

“And while we expected concerns on health, safety, and budgets would be the biggest challenge going forward, organizations are also a bit shell-shocked and worried they are overlooking non-pandemic related risks. In addition, flexibility, in delivery channels, employee skills and technology, seems to be the operative word going forward.”

APQC found that though most organizations have shifted their sourcing models and products or services in response to the pandemic, the biggest change is in how they deliver products and services to their customers. Fully 61% have changed their delivery channels. Just 41% have changed their means of production.

In the next 90 days, participants indicate they will accelerate a number of long-term initiatives to future proof their businesses.

  • --Reskilling employees (31%)
  • --Organizational transformation (26%)
  • --Shortening the supply chain (25%)
  • --Automation and implementing digital products or services (23% each).

The top three skills needed in our new environment according to respondents are flexibility (52%), innovation (40%) and change management (37%).

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