Hungarian business leaders launch new management strategies
The SEED Executive School said MTI Monday that national business leaders are considering new management strategies to meet new challenges.
According to a survey by the Business School for Corporate Development, there is no company today that is not forced to change its managerial approach to transform the way it works.
The pre-coronavirus framework falls short of service and knowledge base expectations as employees want more flexible terms, even though the rules are often still changing. Work-life balance is more important today than it was before the outbreak, but 81% of business leaders cited employee burnout and lack of motivation among their biggest challenges, as well as supply chain bottlenecks and securing the workforce they need, they wrote.
Introducing, for example, a four-day working week or working from home might seem like a simple answer, but a shift in strategy needs to be more than that, the statement says. A company’s resilience in the face of a crisis can depend on its ability to maintain productivity while looking after the mental health of its employees, adapting to ever-changing conditions and taking advantage of new opportunities.
The team concept needs to be redefined, and it is not enough to raise wages, but also to make benefits work, they added.
Flexible working can be a downside if working from home doesn’t benefit everyone in the company equally, managers say. The role of business leaders must also be reassessed, as it will be more necessary than ever to ease the tensions around them and create a calm atmosphere internally. Openness to digitalization and sustainability initiatives was also mentioned in the survey as a new expectation.
More than 100 executives from 40 national companies participated in the SEED Executive School survey.
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