Across the world, firms are having to make remarkable changes in how they operate. In these turbulent times they are rediscovering their sense of purpose, innovating rapidly and getting closer to the communities they serve. At the heart of their response needs to be human closeness, with trust and empathy as the cornerstones. The challenge they face is having to react to changing circumstances at an unprecedented pace, while ensuring their responses are being formulated with the very latest best practice in mind.
Mastering deep, meaningful and human connections with customers and colleagues will become even more important to business leaders as the full force of COVID-19 comes into effect. Firms that invest in ethical, trust-building behaviors now can connect emotionally with their customers, provide invaluable support and secure long-term loyalty. As well as providing thousands with kindness in uncertain times, those that get this right will both help protect their business and lay the seeds of future growth.
There is little doubt that COVID-19 will irrevocably change the way businesses will compete over the next decade. What will decide success is how businesses react to the changing fundamentals.