Summer Blog Series – Dr. Denis Cauvier
COVID 19 Observations
Over the course of the summer, we are featuring members of the OTUS Group network to provide you with some interesting perspective on what they do and insight you can use during these challenging times.
Dr. Denis Cauvier is an adjunct professor with ESC Clermont and IPAG Business Schools. Being the author of 15 books he is frequently featured as an expert in the New York Times, Los Angeles Times, Wall Street Journal, Forbes and on Bloomberg, CBS, ABC and MSNBC. With over 30 years as a professional speaker and consultant, he has spoken to over 1.7 million people across America and 56 other countries.
Dr. Cauvier provides virtual and in person keynotes, seminars, workshops and consulting services that deliver proven low cost/high impact methods to decrease costly employee turnover, increase levels of productivity, enhance performance, increase sales and customer satisfaction, increase market share, and boost profits during turbulent times.
We interviewed Dr. Cauvier to get his perspective on key business issues during COVID-19.
What are the top three challenges you see facing organizations thus far during the COVID-19 crisis?
During the past few months, I have done a tremendous amount of research on this topic plus I have personally reached out to almost 100 clients from 27 countries and did a deep dive into this complex issue. The following are the top three challenges I see facing organizations during the Covid-19 crisis.
- Lack of mental toughness and being able to handle adversity by senior management and their teams. Mental flexibility is necessary during any crisis to enable an organization, its leadership, and its workforce to rebound from setbacks and disappointments. This requires having strong self-belief, perseverance and learning through challenges.
- The inability to recognize quickly when, where and how to pivot. Nothing is certain, except death, taxes, and eventual business decline. It does not matter how much money the current business is making; there is a life cycle for products and technologies, and eventually the business will decline without constant pivoting. Occasionally, a disruptive event happens that accelerates the need for an organization to rapidly reinvent itself. COVID-19 has greatly disrupted operations of millions of organizations around the world. The smart ones will examine all facets of their operations relative to where the market is heading and make the needed pivots.
- Failure to adopt a digital first strategy. Digital first refers to a shift in organizational culture away from favoring traditional channels to prioritizing digital ones. Digital first goes beyond selling products and service online. It is about making strategic digital investments and moving more of the operations to a virtual setting.
What are your thoughts on the move toward the permanent work from home model being advocated by many organizations?
The move towards the work from home model is the natural evolution of the 4th Industrial Revolution. The global pandemic only sped up the inevitable. When you dive into remote work statistics, you will find that in countries like the U.S., there was a 43% increase in people working remotely from 2015 to 2019. New research shows that despite the massive and sudden increase in work-from-home initiatives caused by the global pandemic, 38% of U.S. companies observed productivity gains during remote work and that 84% of businesses will likely increase their work-from-home capacity beyond the pandemic.
Some industries were earlier adapters of the work from home model while others are still struggling. In the short-term you will see many hybrid models, such as some organizations’ workforce returning to work, some working from home and others splitting time between work and home. If a major second wave of the pandemic hits or if no cure/vaccine is created soon, the work from home model will continue to accelerate.