Although the last 12 months focused almost exclusively on the pandemic’s effects, the impact of COVID-19 on telecoms businesses is only the beginning. Changing privacy rules, geopolitical disruption, and the fast-tracking of 5G all compound the industry’s anxieties.
You can rebuild your business as the end of the pandemic becomes a potential reality. Here’s what you need to do to come back stronger.
Prioritize Mitigation Plans
COVID-19 challenged every single business plan, even those who saw record-breaking profits. And so, one of the greatest lessons from the past year is the importance of the pivot.
You need a business plan that not only encapsulates the here and now and the ‘new normal’ but will also offer the flexibility to pivot and protect your business in the years to come. Because more pressing challenges will continue to come down the pipeline, and you need to be ready to step up to the plate.
Shore Up Staffing Weaknesses
Talent risk is a massive concern for telecoms, as cited by KPMG. Keeping workers connected and engaged is only half the battle, particularly as staffing shortages for technical roles continue.
In addition to recruiting heavily, leaders who want to rebuild their business will need to work hard to attract and keep new talent. You may find the need to shake up your recruiting and talent pipeline processes so that you have the power you need to take on the next five years.
Find Your Role in the 5G Rollout
Telecoms are under pressure in the here and now: from delivering infrastructure despite changing patterns caused by the pandemic to the natural disasters that kickstarted the year, it’s nos surprise that many organizations need to focus on day-to-day activities.
At the same time, 5G will dominate telecoms over the next few years. But where does your business fit into the 5G future? And how will your place in the rollout help communities respond to future events? Articulating your place will help you not only survive but rebuild your business.
We Can Help Your Business
Pandemic recovery will only be as strong as your team. Are you looking for new talent? Get in touch to learn more about TekCom’s specialist telecom and network recruitment process.