Understanding the economic shock of the Covid-19 crisis
“ The banking sector has been presented with an opportunity to accelerate any nascent plans to reshape its workforce structure to a truly modern standard ”
of video conferencing software and developing visual dashboards to help communicate a single source of truth could help achieve this aim .
Style up as a sub headIn line with a restructured workforce , management may find that it too needs to adjust in order to fit the new normal . One of the first things that will require careful reevaluation , posits McKinseys , will be workplace targets , particularly the time-scales for their accomplishment . Whilst monthly targets were once reasonable , they may no longer reflect the mercurial conditions and soon become obsolete due to revised objectives . A better approach could be smaller shortterm goals which factor in the required level of corporate agility . In any eventuality , bank managers will need to establish clear communications across the
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Understanding the economic shock of the Covid-19 crisis
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