We should recognise that the crisis also brings with it a unique opportunity to re-set and restructure our organisations in a way that meets a wider set of objectives to purely the financial ones.
Organisations must take the time to gain absolute clarity over who they are serving and how they are serving them - and use this as a central pillar around which to rebuild.
Increasing numbers of consumers are becoming more careful over what they spend, showing more discernment, taking a less is more approach, and valuing most of all a sense of experience rather than a mere transaction.
As the COVID-19 crisis evolves, organisations need to be agile and responsive to the changing environment, act quickly and communicate clearly with employees and customers. Many organisations have had to change the way they deliver service to customers, or offer reduced levels of service.
As we tackle the intractable challenges ahead, it is the job of leaders to remain focused – and ensure that in dealing with short-term decisions, they do not lose sight of their long-term purpose.
Coronavirus has taught all of us that commercial imperatives cannot be all that drives our decision making. Evidence shows that where the board takes responsibility for customer experience, employee engagement increases and levels of customer satisfaction rise. Ultimately in the longer-term higher levels of performance emerge.