In today’s business and economic climate, companies that actively invest in a resilient workforce gain a competitive edge. Looking back at the pandemic, and related crises including talent shortages, supply chain issues, and other difficulties, companies that anticipated and planned for disruption were the ones that came out ahead.
Cultivating flexibility & adaptability
According to the World Economic Forum, early action was key: “Across the board, organizations that had implemented key actions prior to 2020 surfaced as leaders in resiliency.” Citing Deloitte’s Global 2021 Resiliency Report, these strategic advancements included:
- Reskilling employees or redesigning work.
- Diversifying operations.
- Developing technological capabilities to drive new business models.
- Adapting to remote working.
- Maintaining trust between leaders and employees.
- Valuing diversity, equity, and inclusion.
“Resilience is the ability to not only recover quickly from a crisis but to bounce back better — and even thrive.”
Is your company resilient?
How do you know if your team is resilient, and has the ability to pivot during challenging times? As Joan Achis, Business Development Manager Americas at Hudson RPO, explains, resilient teams have five characteristics in common:
- Adaptability: The ability to adjust to changing circumstances, both inside the company and externally.
- Flexibility: An openness to new ideas and approaches, and readiness to pivot when needed.
- Problem-solving: Proficiency in identifying and addressing problems, and generating creative solutions.
- Strong communication: Effective communication and collaboration with colleagues, managers, and clients to advance priorities and goals.
- Emotional intelligence: The ability to recognize and manage one’s own emotions, as well as the emotions of others.
Preparing for the unexpected
In the face of adversity, resilience is critical to weather the storm of disruption and uncertainty. As demonstrated in recent years, preparing for a single crisis is unfortunately no longer enough. From market swings to natural disasters, emerging technologies and AI, market changes, and more, it’s essential to view risks with a wide lens, to adequately cross-train employees and have suitable plans in place.
How to assess resilience
To identify and assess resilience on your team, Joan suggests the following tools and methods:
- Personality assessments: Testing for resilience, adaptability, and emotional intelligence during the hiring process.
- Behavioral interviews: Asking questions that probe into an individual’s past experiences, including how they have responded to challenging situations, and overcome obstacles.
- Performance evaluations: Reviewing employee performance over time to assess how team members handle difficult situations.
Overcoming common challenges
In order to strengthen resilience, there are several operational challenges to consider. In competitive markets where top talent is scarce, it can be a struggle to forecast and plan effectively, which can lead to understaffing or overhiring. Joan notes that organizations can find it difficult to provide employees with necessary training and development opportunities, to keep teams engaged and motivated. At the executive level, lacking a clear succession plan also opens up critical gaps in leadership.
Future-proof your hiring
How do you strengthen your recruiting function and develop operational readiness, without increasing your costs, risk, or overhead? Learn more about the benefits of RPO as an evergreen business strategy, and contact us to discuss your challenges.
