Business Partnerships
What Defines The Ideal Business Partner?
Together, we are stronger. Yet, establishing your criteria for a successful partnership on togetherness only isn’t sufficient or sustainable in the long term. In a post-pandemic world, companies need to consider how partnerships can support their vision in a changing economy. The pandemic has contributed to a radical shift in priorities, encouraging businesses to build an engaging, savvy, and caring presence. So where does your partnership strategy fit into this new world?
Buzzwords such as financial backup, company culture, complementary skills are going to remain relevant in the future. However, they alone cannot tell your next partner success story. Together, we can only be stronger if we walk the same path to support both our teams and customers.
Green partnerships are a priority
Lockdown and self-isolation restrictions have driven the need for telework arrangements. As a result, cars have remained parked on the side of the house for an extended period of time. The first months of the pandemic in 2020 have demonstrated the role businesses play in the environment. Entrepreneur Dee Agarwal argues that green initiatives need to include the development of partnerships with companies that can support your environmental commitment. It’s not a matter of going green in-house, but of delivering market-ready green solutions together. The resulting relationship must encompass green operations throughout the production process, from the moment the idea arises to the delivery of the final product or service. It makes no sense planning eco-friendly decisions in-house when the benefits are cancelled by your partnership.
Digital awareness and experience
The digital workplace is the new normal. However, it’s not been easy for every company to transform work processes overnight. While we still have a lot to learn to make remote workplaces work, working with a partner who appreciates and understands the challenges of home working can remove many frictions. The surge in home-based offices is blurring the lines between everyday life and work, as video calls can give insight into coworkers’ house life. From hearing children on calls to introducing flexible hours for out-of-work needs, the digital workplace changes work habits. Therefore, a partner who can adapt to these challenges and transformations is an ally for growth.
Positive digital transformations
As mentioned, the pandemic has driven digital needs. But the digitalization of business processes also requires digital transformations. In the UK, 74% of businesses have acknowledged that the pandemic has exposed unexpected gaps in their operations and processes. Going forward, companies need to make IT investment and strategies a priority. It makes sense to reach out to a partner who is also going through the motion of implementing digital initiatives.
People-focused strategies
The post-pandemic business environment needs to accommodate heightened emotional states. For employees, working during the covid-19 crisis has caused elevated stress anxiety, and overall mental fatigue. While partnerships are designed for mutual growth, it’s essential for partners to consider how it will affect their teams. Putting people at the heart of your partnership is about addressing the emotional and psychological needs that arose during the pandemic. In other words, you can’t afford to increase workload to meet the partnership goals without looking after your teams.
The ideal partner understands where your business stands in a post-pandemic economy. Understanding the technical, environmental, and HR issues caused by the health crisis creates a solid platform for mutual growth.
