Covid-19 – Protecting employment and the economy during the time of panic
The CEO said he sees the need for getting out of the norm during this crisis to stay afloat.
Protecting employment and the economy from tipping over during the Covid-19 crisis should be all South African business leaders’ responsibility, according to Frank Mullen, CEO of Zinia, a telecoms and ICT provider.
On March 17, Mullen said how decision-makers adapt will determine the knock-on effect on businesses and livelihoods around the entire country.
“Stopping operations will negatively affect those we do business with, impacting employment and ultimately worsening the current economic situation.
“Think about what will happen if customers stop buying from businesses who in turn, stop purchasing from suppliers due to Covid-19. This would have a severe impact on your business as well as your suppliers,” said Mullen.
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The CEO said he sees the need for getting out of the norm during this crisis to stay afloat.
“We are all in this together and have a responsibility to collaborate with our suppliers, customers, employees and peers, to find ways to keep business going, even if it is not how we traditionally would operate.”
Mullen believes business leaders should challenge all negative decision and not react out of fear.
“As a nation, South Africans are particularly resilient, but travel bans, quarantines, social distancing and behaviour changes will continue to affect South Africa in the coming months.”
Mullen provided guidelines on how business leaders can adapt quickly:
1. Implement Covid-19 education and take actions to protect the health of those within your company and those who come into contact with your business.
“This includes putting in place sanitary and protective supplies, educational information and make sure that the right behaviour patterns are adhered to.”
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2. Create a new 90-day business ‘ADAPT’ action plan that includes dealing with further restrictions on travel and other decisions taken, should the situation worsen as a whole.
3. Continue business as usual as far as possible. “Do not stop spending entirely or take the attitude that your business needs to shut down. This behaviour will damage the economy.”
4. Give all staff the ability to work from home.
Check that your business has the right technology and if not, put them in place quickly.
This includes giving tools, such as access to data, devices, internet and remote access to work systems, so employees can continue working in isolation if need be.
“You will do more damage to your business if your employees are unable to work in isolation.”
5. Manage the productivity of employees who are working at home. Instead of travelling, use video conferencing and telephony systems.
“As business leaders we need to be open to limit the risk of spreading the virus. This means doing things differently than we would normally,” said Mullen.
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“For example, find another way to get the information you need to make a decision instead of cancelling a face-to-face meeting. By not making a decision you are further damaging the economy.”
“We absolutely must continue the buying cycle,” he said.
Mullen shared his predictions on how Covid-19 will affect different sectors.
He said some sectors like tourism will be badly affected.
“But if it is within the control of a business leader, they must do everything to support local tourism, businesses and co-workers.”
Business leaders must rally together, support each other and speak up, including putting pressure on the government to come up with economic reforms and stimulus packages to boost and assist businesses during these times.
Mullen said there are advantages to the pandemic.
“As the price of oil drops, the price of fuel will lower, and interest rates may come down too, effectively increasing spending power and improving budgets.”
The CEO urged the community not to panic and not to allow the country to slip further into recession.
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