BY Rajendra Prasad Koirala

There are two unchanging certainties in life: things change, and leading people is never simple. Managers are now dealing with fresh difficulties, exacerbating the situation. A variety of new challenges have been introduced by the epidemic, together with a quickly changing corporate environment.

Given below are the key challenges managers are facing right now:

Lack of Confidence in the Future

Twenty percent of managers reported having complete clarity on how business initiatives implemented in 2019 affected organisational goals. This indicates that 80% of managers are operating without a clear understanding of the how and why of change. This pattern has only been accelerated by the COVID-19 epidemic. According to McKinsey, current management methods are inadequate to handle the problems that the crisis has brought forth.

Employee Wellbeing

It is undeniable that COVID-19 poses a grave threat to both individual and corporate health. According to research, 93% of workers will struggle with mental wellbeing in 2020. That includes practically everyone! Seventy-three percent of individuals who were impacted attributed this conflict to the pandemic. Employees who have switched from in-office to remote work have said they feel less connected to their coworkers. Another source of stress is job uncertainty, with 23% of workers worried about losing their source of income. Many employees' fear has also been driven by health and safety worries about a potential return to the job. At the same time, the Ukraine-Russia war seems to have caused a global financial crisis now. Therefore, thousands of citizens have suffered from mental issues and ultimately moved towards suicidal attempts across the globe.

Monitoring and Boosting Group Productivity

Employee productivity is at least one factor that all successful businesses have in common. In fact, a Harvard study demonstrates that the most productive businesses produce 40% more than the average ones. This is why one of the biggest problems managers face today is monitoring and enhancing team productivity. Unfortunately, because of how quickly our workplace is changing, it has grown much more difficult. The epidemic, globalisation, and technology have all accelerated these developments.

Influencing Corporate Culture

A strong business culture will continue to be a struggle for 43% of HR leaders in 2021. An important factor in employee engagement and productivity is company culture. According to research, 77% of employees think that business culture is crucial. Therefore, it's crucial that we deal with this problem. We must establish a working culture that moves in sync with our organisational objectives.

Top Tip: Promote a climate of active collaboration and teamwork within your teams. Spend some time publicly thanking each member for their contributions and accomplishments.

Choosing and Onboarding the Right Talent

It has never been simple to hire people. The proper talent is difficult to locate for 45% of businesses. The task of hiring managers nowadays is not a simple one. They must, after all, deal with the effects of the pandemic and adjust to its tendencies. Think about online hiring, flexible work schedules, and worker welfare. In order to draw in a wide candidate pool, talent acquisition tactics should also be reevaluated. After you've done that, you'll need to come up with a fantastic onboarding process to offer your new hires.

Encourage Diversity and Inclusion at Work

One of the main issues facing today's modern enterprises is ensuring diversity and inclusion in the workplace. Respecting and accepting each employee's differences (such as those related to their race, age, religion, education, gender, and abilities) is a key component of workplace diversity. Contrarily, inclusion focuses on making sure that every employee, regardless of their physical or cultural differences, feels respected and supported as a person.

Managing Inter-Team Communication

Do you and your team members communicate clearly? A great team can be distinguished from a mediocre one by the organisation's culture, which is based on good communication. But current business practices have made team collaboration much more difficult. According to research, 97% of employees believe that effective communication affects their ability to complete everyday activities in a significant way. Make sure the information in your correspondence is simple and clear. We are most productive because we are social beings when we feel a sense of belonging to our organisations and supervisors. Encourage frequent catch-ups with staff so they can voice any ideas or concerns.

Compliance & Regulation

Today's managers face many obstacles, one of which is dealing with regulations and compliance. This is hardly surprising considering how quickly businesses had to adapt to new regulations related to the pandemic and changes in the political landscape. Managers will need to be more alert and mindful of compliance measures relevant to their team operations. Managers may also need to consider how to best communicate this among their employees by using the right tools and channels.

Innovation & Digitalization

Let's be honest. Digitalization is becoming a need for survival rather than a choice. The organisations that have adopted a digital business model have been able to prosper in the face of the enormous changes we have seen since 2020.

Be Aware of Skills Gaps

Alarmingly, 35% of the abilities currently possessed by workforces are projected to become obsolete within the next several years. This change will call for a quick drive to reskill. In fact, 66% of HR leaders agree that during the next three years, developing crucial skills and competencies will be a top priority.

High Employee Turnover

Most jobs and even careers are not permanent. In actuality, 4.2 years is the average length of time spent in a job (and much shorter for millennials!). The difficulty is keeping top talent in this age of job-hopping. If you don't, the costs might be astronomical! To replace an employee, 33% of their annual compensation is needed. For highly skilled senior staff, this percentage soars to a staggering 400%! It's simple to believe that paying employees more or giving them annual raises is the only way to keep them. The good news is, this isn’t always the case! Your teams desire education. According to research, 65% of workers feel having development and training chances will make them more loyal to the organisation.

Developing Creative Teams

"Innovation at work” is essential to our company's survival and prosperity. However, it can be easy to put good ideas on hold during difficult circumstances. However, those brilliant ideas will quickly run out if we don't support creativity inside our employees. Many people desire workplace collaboration. So provide your teams with the means through which they can exchange ideas! Encourage everyone to post on the message boards and news feed if your LMS (Learning Management System) provides social elements. You should start talks when necessary to inspire your team's imagination.

Eliminating Silos

The phrase defines groups that are more likely to hoard information than to distribute it and are inward-looking. Silos are more likely to arise during periods of change. Knowledge, ideas, and talent from your firm do not belong in silos! To guarantee that everyone benefits, communication and knowledge should be openly shared throughout the organisation. Innovation and productive organisational change can develop in this way. Top Tip: It's time to remove obstacles and let your employees' expertise shine! This is achievable through the influence of rewards. The ultimate payoff, though? Acknowledgment, of course. Additionally, you don't have to rely only on external incentives.

Loss of Knowledge and Brain Drain

Managers everywhere must deal with a situation that is only getting worse. Persons departing. And what's worse, they take their expertise with them 

It is crucial for managers to promote a culture of knowledge sharing. The brain-drain dilemma has no other lasting answer than this one!

The Holy Grail of Workplace Engagement

Employee engagement is one of the largest problems facing society today. According to research, motivated workers are more creative, productive, and less likely to quit. It should not come as a surprise that 88% of companies want to increase employee engagement.

Last but not least,

With the impending threat of Artificial Intelligence, there might be more challenges in the upcoming future. Leaders of all grounds should prepare to face this challenge and start making strategies to overcome the technological threat.

(Koirala is the CEO of Gyanda Academy)