Building Trust Amid Disruption: OEM and Supplier Execution in the New NormalAugust 31, 2020
In partnership with KPMG, MICHauto gathered nearly 50 automotive industry leaders to discuss the transformations underway and how businesses can best adapt. This session with speakers Mike DiClaudio, principal of Human Capital Advisory; Sam Fogleman, partner of Internal Audit and Enterprise Risk; and Atif Zaim, principal of Financial Services Solutions, shared with attendees an assessment of the industry now and the changes required for success moving through and beyond the COVID-19 crisis.
Key takeaways from the conversation include:
- Company culture is being impacted in unexpected ways. In-office workers report that their happiness at work has worsened compared to remote workers’.
- Despite uncertainty, commitment has increased. 73% of employees say their commitment to their organization has increased, and 71% say their desire to stay with their current organization has increased.
- Value and flexibility are key. In these stressful and rapidly changing times, to thrive, employees are seeking flexibility in their work options to accommodate professional and personal needs. Similarly, the need to feel valued as an employee has proven more important and improves morale and productivity.
- Management styles need to evolve. As workstyles shift to fully remote, hybrid, or phasing back into physical offices, managers will need to be more versatile than ever, especially to overcome challenges around defining productivity and effectiveness.
- Focus must shift from where we work to how we work. As work is reoriented, businesses should consider how work is done in the framework of task, type, tools, time, and tech,
- Workforce analytics must become a priority. While businesses use data to get to know and better serve their customers, now is the time to apply the same research, monitoring, and predictions to employee behaviors and feelings. Focusing on the human perspective will allow teams to better support employees and predict and avoid challenges that may lie ahead.
- Businesses can navigate the complexities of compliance through a module-based approach. Using categories of strategy and policy, structure, risk and data analytics, and compliance and process can help identify key or evolving priorities and guide program management strategies.
- Balance immediate needs with future reality. The current priority for businesses is to stabilize and establish processes to restart safely and effectively. Special attention to maintaining productivity, solving for fatigue, ensuring compliance, and immediately retooling will set businesses up for success in the future. Looking ahead, adaptation is key through creating flexible but sustainable work models and optimizing service delivery.