How can businesses and brands best the COVID-19 epidemic?

In this ever-changing landscape, businesses and brands need to realise that change comes in many forms—technology, new product development, digitalisation, competition and of course, world crises. 

Given the fact that 2020 started with the continuation of the Australian forest fires, heavy rain and an overflow of the Mayro river in Peru, explosions and a column of ash and gas at the Pacaya Volcano in Guatemala, explosion at the Popocatépetl volcano in Mexico, the eruption of the Taal volcano in the Philippines, ongoing wars and terrorism followed my many natural and man-created disaster comes the COVID-19 coronavirus epidemic. 

Can these crises be controlled? And how can businesses and brands coexist and best the outcome?

1. Upskill the workforce (offsite) 

Boosts morale and improves retention: No employee wants to work for a business that does not invest in their career. Upskilling is a smaller investment over hiring and training a new employee. It also gives an indication to the employees that the company has a path to career advancement which is a high motivator.

New talent attraction: Word of mouth is a strong advocate for businesses. When employee morale is boosted, they promote their workplace to their network of friends, colleagues and family members. 

Increases customer satisfaction: Treating your employees well with upskilling leads to employees treating your customers well. 

2. Remote work 

In a decade, businesses will be moving towards remote work. COVID-19 sped up the process. Set the groundwork and develop the infrastructure for working from home. Undertake meetings securely while keeping your employees and customers safe through the digital platform so travel and time could be better invested.

While this approach works for white-collar workers, businesses need to now invest time and money on figuring out how the same could be done for blue-collar workers. 

3. Operational shock strategy

 Change is inevitable, businesses cannot shy away from it if they want to grow and thrive. Like people, businesses get comfortable with the current processes, technologies, products, mode of working, etc. It’s human nature to get used to following a routine. 

Having seen a clear trend where natural and otherwise calamities change the forecasted strategy, businesses must now discuss the operational shock strategy. Cash management, product management, client management and employee management. 

It’s now or never since businesses are at a standstill with COVID-19. It is good to invest time on strategies and areas the company would not primarily work on during a usual working day. 

4. Create demand 

Change may throw a wrench into the routine, but it can be used as an opportunity reassess. How can businesses temporarily/permanently look at creating demand with an existing or new product or services which is of need in these trying times?

5. Sustainability 

The coexistence of the biosphere and human civilisation is referred to as sustainability.

Without the planet, governments and corporations are like an expensive car without an engine: it will serve no purpose. Which is why creating a strategy for sustainability is of utmost importance. 

The reason countries, corporations and brands fail to overcome a crisis is the mindset of being reactive instead of proactive. When reactive measures are all that’s left, it must be done immediately and responsibly. 

Investing during a crisis is like getting onto a highway: It may be a bit costly with a toll fee, but your destination is reached much more efficiently.

Don’t hope for change, change for hope.

[The writer, MBA (UWTSD), Dip MCIM (UK), AMSLIM (SL), BIT (Aquinas, SL), PMP (PMI, USA), is an award-winning Chartered Marketer who is currently heading the global marketing function for over 20 countries including, United States, Australia, Singapore, Malaysia, South Africa, India, and Sri Lanka as a Global Marketing Manager for a leading multinational IT company, backed with experience and exposure in management, advertising, sales and marketing.]