COVID-19 is not a crisis that we've ever seen the like of before. We are dealing with a moment in time that may forever change how we live, do business, travel, play and communicate with each other.
Business leaders are having to navigate through this unprecedented prolonged period of uncertainty that is requiring a substantial change to how they operate. Some businesses will undoubtedly fold during this time, and others will need to reformulate their strategies to emerge out of this moment successfully. Some may even need a complete pivot around who they are, what they do, and what they stand for.
It's at times like this, that purposeful leadership delivered consistently and authentically through strategic communications will help organizations to stand out from the crowd and win by being relevant and demonstrating empathy.
Late last week, I had the great fortune to join an hour-long webinar hosted by EY, on The CEO Perspective: How Covid-19 is defining business purpose. A stellar line-up with some of the biggest and most revered companies in the world, all of which can and do demonstrate purposeful leadership. The panel included: Carmine Di Sibio, Global Chairman and CEO of EY; Nigel Higgins, Group Chairman of Barclays Bank; Bernard Looney, CEO of BP; Michael Dell, Founder and CEO of Dell Technologies; and, Alan Jope, CEO of Unilever.
Reassuringly, I had a level of comfort straight 'out of the blocks' in that big global business and the influence it has is in good hands. Each of these esteemed leaders spoke authentically and with empathy in a 'human-centric' way about their thoughtful and measured view on where we are today with COVID-19, and what that means for the world we live in going forward. All shared similar strategic views, although coming from different sectors and industries, and there were a couple of core themes that were discussed that I wanted to reflect on. But before I do, I did think it was pretty surreal to think that this group are respectively running one of the world's biggest banks, oil companies, tech firms, FMCG companies and management consultancies effectively each from their own 'kitchen tables'. That in my mind is pretty cool.
A Catalyst for Positive Change
Firstly, this pandemic, no matter how awful will act as a catalyst for positive change. Young people, will not tolerate procrastination concerning the big issues facing the world such as climate change, global health, energy transition and inequality. And that this moment of pause will lead us to think longer-term and be the driver to get all of those 'transformation projects' sped up. A lovely sentiment expressed by Bernard Looney, when speaking to one of his colleagues from BP's oil's refinery's in Ohio about the future of energy transition. This guy said, 'I love the direction that this company is going in the long term', which effectively could affect his livelihood in the short-term, and 'if you gave me a choice I would take my grand-children any day'. Since the crisis, BP has doubled its effort and commitment to tackling climate change and energy transition.
Purpose Has Become Real
Secondly, purpose has become real. The 'purpose narrative' has been touted for many years, and sometimes with cynicism. In the past, some organizations have felt that being purposeful was optional – what this crisis has done is show that it's simply not. Organizations and individuals now have to stand up and be counted in how they act and all that they do. Employees, customers, suppliers and communities will remember this moment in time forever and what businesses did, or didn't do, to help them. Looking to the future, it will make businesses think about how they have to demonstrably step up; as a bank do you give credit to those you perhaps wouldn't have done in the past; across any sector do you look at paying your suppliers earlier to create greater cash flow; do you look at more charitable donations or commitments to communities. These will, if they are not already, be the 'business as usual' purpose related questions that need to be explored.
Relationships with Humankind
Thirdly, our relationships with humankind. Not just in the business or workplace but as humans going about our day-to-day lives. The fact that when business is going well, how much do you really stop and properly think about that employee, that client, that supplier and what they need, in and outside of work. This crisis has made us look at this and look at what we want our future relationships to look like. Then there is the fact that the whole world is being supported by the most incredible group of essential workers. Not just our doctors and nurses, who are beyond phenomenal, but the truck drivers, delivery people, supermarket check-out assistants, teachers, who are putting themselves at risk for the greater good – this is the time that these working professions should come out of this more highly valued than they are. And at a macro level, the world that has a combined GDP of around $US 90 trillion is offering $US 13 trillion in stimulus packages. In some countries it may be harder to access than others but where possible use your advisor network, your lawyers, your accountants, your reputation managers to help you unlock what you can get at this global time of need, so everyone has a greater chance of survival and growth.
Hope for the Future and Thoughts for 2030
Finally, hope for the future and thoughts for 2030. This big question achieved very simple responses. Ensuring big business could put their hand on their hearts and could look back to 2020 and know that they did the right thing and helped in any way they could. How they used 2020 gaining the courage to lean further and greater into the challenges the world is facing and continue tackling these challenges head-on but with renewed purpose and rigor to smash through the trust deficit with stakeholders. How from this moment on, the world won't go back to normal; instead the way we live, work, play and communicate will be different – and that is viewed in the right way, is a hugely exciting proposition.
We are going into a new world. And COVID-19 has and will continue to take the lives of many loved ones which is dreadfully sad. But let’s use this crisis to emerge from it as better humans; have purpose and not just process and profit at our hearts; speak and act with empathy, and lead from the front as and business and communications leaders. And to end with my favourite quote of the webinar ‘When a hurricane rips through a shanty town – you don’t rebuild the shanty town – you build something better’. My sentiments exactly.