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If the pandemic is teaching us anything, it’s that people and organizations are interconnected and responsible to one another and to society in ways beyond short-term earnings. Employees, customers, suppliers, and communities are watching-and will have long memories. You know why and how your company is different from any other: why it exists, how it creates value, and “how we run the place.” Take a stand on purposeĭo CEOs even have time to consider corporate purpose these days? For some, the answer is a quiet no the urgency of the moment makes it easy to overlook pre-crisis commitments to things beyond making money. How do you know if you’re in such an organization? Simply put, you know who you are and what you stand for as a company this becomes a “North Star” that guides people in times of chaos and uncertainty. Fear for corporate survival surely played a part, but our conversations with global leaders suggest that stronger motivations were a clear sense of corporate identity and a desire to simply be there for customers and for one another. So, too, did the fast reflexes of some companies: even their own leaders were shocked at how quickly colleagues stepped up, made dramatic changes, and began performing at new levels. The speed of the pandemic surprised everyone. Still, as one leader we spoke with puts it, “How can we ever tell ourselves again that we can’t be faster? We have proved that we can. Did it take a pandemic for organizations to focus on change that matters? Too soon to say. Will the new mindsets become behaviors that stick? We don’t know.
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Bold experiments and new ways of working are now everyone’s business. Inertia is clearly riskier than action right now, so companies are mobilizing to address the immediate threat in ways they may have struggled to when taking on more abstract challenges, such as digital technology, automation, and artificial intelligence (all of which still loom). The COVID-19 pandemic and resulting economic shock have changed none of these things and, at the same time, have changed everything. Organizations felt too bureaucratic, too insular, too inflexible, too slow, too complicated, and often more focused on profit than on people. The subtext of comments such as these is a recognition of previous dissatisfaction.
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We don’t have full information, but that’s OK-we can’t afford not to move.” As one executive we spoke with observes: “Our senior team meets every morning for 30 minutes. Amid the fear and uncertainty, people are energized as companies make good on purpose statements, eliminate bureaucracy, empower previously untested leaders with big responsibilities, and “turbocharge” decision making. However, we also see signs that the opposite is happening. We know that many people are working harder than ever and risk suffering fatigue and burnout. Of course, some of these outcomes might simply be from “organizational adrenaline”-heroic efforts that are unsustainable. A retail conglomerate in the Middle East retrained 1,000 people in two days, redeploying them from a suddenly stagnant business (movie theaters) to a booming, critical one (grocery retailing).A financial-services company transitioned more than 1,000 of its global operations staff to work-from-home arrangements, equipping them with new technology within 72 hours to ensure business continuity.When the lockdowns hit, it went operational in two days. One large retailer dusted off a pre-pandemic initiative to launch a curbside-delivery business.Please email us at: A fast-food chain that had to shutter its operations avoided layoffs by partnering with a health and wellness retailer, thus helping the retailer meet spiking demand in a newly designated “essential business.” If you would like information about this content we will be happy to work with you. We strive to provide individuals with disabilities equal access to our website.