Business Beyond COVID-19 – The Global Podcast Series
Welcome to Business Beyond COVID-19, HSBC’s podcast series about embracing business unusual through the global pandemic and beyond. We talk to industry leaders and experts to understand how they are adapting, reshaping and innovating through these extraordinary times.
HSBC Canada hosted a virtual panel discussion in September with a group of CEOs from a diverse range of businesses across the country. They discussed the results of HSBC’s recent Navigator survey, which gathered insights from more than 2,600 businesses worldwide, focusing in on the key themes of resilience, sustainability, supply chain and future of work. The panel shared learnings and perspectives on how they have led their companies and people through change, what lies ahead for their operations, and how they are future-proofing their business.
Listening time 13min
Key takeaways from business leaders in Canada to help organisations thrive through COVID-19:
- Diversify your business both in terms of industry and products
- Look for ways to pivot your business in order to generate new forms of revenue
- Start building sustainability into your cash flow management
- Ask how you can help your team during a difficult time
- Put emphasis on health, wellbeing and safety
- Look for ways you and your team can help others during a crisis – this is often very rewarding for your employees
- Expect flexible working arrangements to become the standard beyond COVID-19
- Communication is key – trust employees and let them know what is happening with your business
- Resilience stems from culture, valuing employees and customers
- Businesses should plan to rebuild on firmer environmental foundation
- Investors and customers expect companies to show how they are changing their business and doing the right thing
Employee morale is a continuous thing. It’s not a one-time fix. I would put at the top of the list, communicate.
We wanted to make sure that our team’s mental health needs were looked after. We really doubled down on our values, make sure that we were always answering all of their questions, over-communicating, being completely transparent about where the business was and what it meant for them.
It isn't about greenwashing anymore, it’s very much about showing, credibly, how you're changing your business.
To me, supply chain is like insurance, you hope you don’t need it, but you're really happy to have it if you do need it.
What are the top opportunities ahead?
Take time to review the risks in your supply chain and look for opportunities to diversify.
Employee morale is continuous, there is no one time fix.
The time to be hands-on is now. Get involved with your people like never before.
Be bold, take a risk and look for opportunities to work in new ways.
Leadership matters, whether it is for our people, customers, supply chain or relationships.