At Gobeyond Partners, we are seeing a distinct phasing of business response across the ‘Crisis Curve’. As the situation continues to evolve, we are seeing themes of distinct importance emerging for the banking and financial services sector.
Our first area of focus is re-engaging people. This is an important place to start due to its bearing on how organisations will manage through the rest of the current crisis and successfully emerge stronger and more resilient.
How people are treated throughout a crisis is something that sticks in memories for a long time. The good news is, there's still ample opportunity for organisations to positively influence this.
While there will a certain commonality in approach between leadership and individual contributors, there'll also be unique drivers and impacts to consider across three broad areas:
1. Listening, understanding, and re-engaging with people.
Banks will need to closely understand what impact the crisis has had on each of their people, whether it be the home working environment, impact on their families and where positives; such as opportunities for more flexible working and more balanced lifestyles have emerged.
Really understanding what that means to individuals, recognising where many have already gone above and beyond in their roles and being clear about future requirements over the coming months will be critical in terms of shaping future responses and taking positive steps forward.
Post-crisis, there may well be a differing need for certain roles, with re-skilling an important part of helping people transition. There may be deeper consideration by individuals of changing careers, and exploring different options available, with opportunity to clearly think about and chart their next steps becoming far more valued. Actively supporting personal development will ensure the right skills are in the right places for the future,
3. Remote working management
A major theme across this period has been increases in remote working. Some of the questions we think will be important are how organisations change the way they think about managing day to day business, performance management, coaching, support, and development. All of these will need to be considered in a more significantly remote working environment, which is something that we expect to continue well into the future.
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