Newton’s first law of motion states that “an object at rest stays at rest and an object in motion stays in motion with the same speed and direction unless acted upon by an unbalanced force.” When this law is applied to our economy and our lives, we know an unbalanced force, the Covid pandemic, has changed everything. Such change has happened to humans many times – from catastrophic force majeure calamities spanning hurricanes, earthquakes, illness, climate change and war.
Many companies have rushed to put out their take, and response to Covid – huge respect to all of them. Every bit of education helps. Here’s our take on what will change materially.
- How we work > Methods
- The tools we use > Systems
- How we earn and burn $$ > Finance
- The way we interact, lead and follow > Behavioral
- Consumption patterns > Business
- The new world order > Regulations/Legal
- How we take care of ourselves > Medical/Prevention
We humans always find a way to adjust. We are cognitive creatures, which means acquiring knowledge through experiences is at the core our of souls. We experience everything through the five senses – vision, hearing, smell, touch and taste. With video conferencing, work from home solutions the first two senses are satisfied but I suspect our internal wiring will overwhelming, bring a craving for the other senses to be satisfied very soon – taste, touch and smell. People like to meet, greet, eat together. That is what makes us a special animal. People need people to survive meaningfully. They will and the businesses they run will adjust and thrive. Just differently.
How we work > Methods
Conventional business continuity planning is set to undergo a paradigm shift to account for COVID like pandemic & scale of disruption it presents. Companies are grappling to shift their front line (in-store, branch sales, call centers), middle & back office employees to work from home. With burdening supply chains for new laptops, business change & technology hurdles, interim solutions have to make way for more sustainable, nimble operating models.
Once enterprises are over the hump, what will new normal be? CXO’s will have to justify investments in opulent real estate, rigid staffing models. In order to optimize risks & cost, enterprises will place strong focus on automation, variable staffing & work at home models.
TechM can address this new paradigm with business performance services & smart work from anywhere. As a part of phased transformation, we can rapidly enable, revitalize & reimagine your contact center & back office operations.
WaaS Nxt | The Future of Work
With entire industries, functions, and geos held hostage by a microscopic challenger, there’s no hiding the fact: the way we work needs to evolve, right now. Digital workplaces are the answer, but obstacles like performance issues, inconsistent user experiences, and security and budget concerns stand in the way. TechM’s answer: WaaS Nxt, which is designed to deliver the highest security using a hybrid workspace delivery model. Leveraging virtualization, enterprise Mobility, and context-aware security, we provide the workspace resources you need — all in a single window. The workspace you want, anytime, anywhere, on any device.
Thermal Sense | Tech-ing on COVID-19
The outbreak of this coronavirus has the people world scrambling to protect themselves, their homes, and their businesses. Considering the wealth of cumulative thinking abilities at our disposal, we have been looking into solutions based on our capabilities. Our plug-and-play solution is designed for the post-COVID situation: a diagnostic device to ensure the safety of returning workers. It can be deployed instantly and uses tech like Facial Recognition, AI, and thermal cameras to keep the risk of infection to a minimum. It isn’t limited to offices: it can be used in airports, subways, schools, hospitals, industrial parks, community hotspots, stores, and more.
TechM + Leadcom + LCC | Lockdown Network Services
With social distancing and subsequent isolation, our advances in telecom are key to helping us retain a sense of normalcy, and maintain business continuity. But who provides for the providers? To help with the surges in already stressed network capacity demands, we — and our subsidiaries Leadcom and LCC — have tuned our Network Services portfolio to cope with these challenges. Our network coverage and capacity augmentation solutions offer assistance to operators, OEMs, enterprises, and governments in key areas: additional capacity and coverage, network connectivity enhancements, predictable customer experiences, application/user behavior control, automatic configuration of network parameters, and more.
#NewAgeDelivery | Tech Disruption for Tomorrow’s Challenges
Crises like the global coronavirus lockdown have shown us the importance of a fail-proof system of delivery. #NewAgeDelivery is just that: a COVID19-proof, zero downtime platform. Powered by architecture designed for quick deployment, a cloud-native environment, and optimization-focused planning, TechM’s AI-powered IT delivery engine helps businesses use community-ranked and rated assets, teams, and flight paths envisioned even before the first line of code is ever written. Align business outcomes to the needs and demands of the new-age customer, starting today!
How we earn and burn $$ > Finance
This pandemic has devastated thousands of companies and dozens of end markets – retail, travel, events (sports), manufacturing, banking and so on. The largest economy in the world, the U.S. economy, contracted by 4.8% in the first quarter of 2020. Governments have rushed to announce bailouts, financial aid of various forms. Every company’s leadership has to reassess what they do with their staff – furlough them, lay them off or keep them hired and bear the burden on their P&Ls. Similar considerations will be made on contingent labor. Every resource available to a company will have to be examined – supplies, materials, workforce, cash and so on. All companies affected by this pandemic have to also re-examine how revenue models may change – will they have to rebalance their expectations from various channels – from physical stores to call centers to digital online assets. In short, every leader has to be prepared to change the way his/her company earns (revenue) and burns (money) to thrive in this environment.
The way we interact, lead and follow > Behavioral
Behavioral changes refer to modifications in an individual’s inherent human behavior. These qualities can be affected by a number of external factors that could in turn influence or change human behavior for a period of time or indefinitely. Behavioral changes are a critical aspect of how individuals interact with one another, lead, and follow others.
In a time of distress, it is important to consider how employees are affected by the COVID-19 pandemic and in turn how their behavior may shift as a result of the ‘new normal.’ With circumstances changing on a day-to-day basis, it is critical to consider how interactions will, as a result, be constantly shifting. As external factors continue to affect our workforce, it will be important to be conscious of how we interact, lead and follow others as well as maintain such behavior in the future.
Providing empathetic support to team members during times of uncertainty helps to protect their wellbeing and forms trust. It’s essential to remember that we do not have to be physically present with one another to show a stronger leadership presence. We should share our honest experiences with our teams regarding the challenges we face, provide thought leadership on how we handle them, and learn from other leaders on how they overcome adversity.
Consumption patterns > Business
Current health crisis has altered consumption patterns of products & services offered by all global brands. As a result of lockdown, physical channels are compromised in retail, telecom, automotive, banks & many more industries. Consumers are going aggressively digital (yes baby boomers too!) from online groceries, curb-side pick-ups, banking/investments, door dash of restaurant food, at home services. Customers are exploring all digital pathways offered by brands, amplifying good, bad and ugly of service ecologies like never before!
As the world returns to normal, we see a compounded surge in digital transactions. Customers cutting across segments will refuse to embrace a physical channel for commodity sales & service again. Relationship driven interactions will be reserved for complex products & services where customers will expect a seamless hand off between digital and non-digital channels.
Digital transformation agenda will be put on steroids across most organizations. Tech Mahindra can help drive accelerated digital outcomes through E2E transformation covering Customer Experience, AI and Core Modernization
The new world order > Regulations/Legal
The COVID-19 pandemic has brought an unexpected reality to humanity. With social distancing, stay-at-home orders in place, and families in distress, it is essential to keep in mind that our workforce is experiencing a widespread disaster while reestablishing a work order that will set a new business standard for the foreseeable future. It is critical that we refocus on how we lead, follow, and interact with others to set a precedent for behavior around us, all while being conscientious of the current circumstances that face us all. Following January 21st 2020, with the first case of COVID-19 reported in the US, regulations, and developments have continued to progress with stay-at-home orders, the recommended use of face masks and nationwide travel advisories, the fear of this pandemic has come closer to home each day. Globally, freedom of movement has been curtailed in one fell swoop – countries have implemented border controls, visas were canceled, non-essential travel is restricted and there are quarantines for travelers.
Revising one’s business strategy to fit current circumstances is a critical measure to ensure the longevity of your business, not only to withstand the current crisis but the new world that will face us moving forward. Tech Mahindra’s Work at Home (WAH) solution is designed to prepare your business and maintain your workflow through this time of distress. WAH is a universal program that is clear to implement and will protect the continuity of your work and, in turn, the future of your business.
How we take care of ourselves > Medical/Prevention
At TechM our advice is to stay safe and out of harm’s way. To help health providers (doctors, nurses, first responders), the Mahindra Group has responded by converting a factory in Mumbai to produce masks. The company is churning out ventilators and face shields in its manufacturing facilities. It has also agreed to help other manufacturing companies to make 3-ply masks.
Products & Services
BPS Marketing for a Post-COVID World
Critical thinking and creativity are likely to remain vital, with a reliance on fluid, smart, and flexible teams.
The new normal: Social media is likely to be more critical than ever, providing instantaneous, insight-driven business intelligence. Brands can create a strong digital presence through influencer and paid marketing campaigns. Interactive visual and video content will be a powerful, effective option here.
We will rely heavily on online marketing powered by tech like chatbots, voice search, Scalable Vector Graphics (SVG), IoT and mobile-influenced progressive web apps. Using easy-to-consume digital assets, we will drive thought leadership 2.0—in partnership with analysts and academia. Analyst relations are likely to get deeper, with virtual interaction—online events, AR & VR possibilities to leverage gamification.
Adaptability and flexibility will be key in this “new normal” — great news for all firms that thrive on innovative disruption!
Anand Mahindra, the group’s chairman, cut his salary to zero and offered to convert Mahindra Holiday resorts as temporary care facilities. He also said the Mahindra Foundation will create a fund to assist small and medium industries hardest hit by this crisis.