Disruption and destruction give us the opportunity to introspect. These are the 5 questions you as a CEO should ask yourself right now.

Coronavirus has unimaginably gripped the world. We see depression inside -- in our heads, and outside -- in the economy of the world. Businesses are in tough waters. During this time, what are the most critical questions, CEOs should ask to survive this storm and thrive?

1. What can I do to ensure the maximum safety of my employees?

First things first, being safe and healthy right now should be everyone’s priority. Employers should act more wisely, as the responsibility of the livelihood and safety of their employees is on them. Some businesses have a different opinion of what the virus is and are not very keen on following the governmental instructions. Make sure that you are not one of those and jeopardize the lives of many.

Push for employees to work from home even if your state eases the lockdown restrictions. Make efforts to build, lead, and empower remote teams. Promote a remote working culture, and help your employees with the required resources for the same.

If you have to ask people to come to work due to the nature of your business, ensure maximum safety, have sanitizer dispensers, do thermal checks, and seating arrangements maintaining the adequate distance. Take it upon yourself to test every employee for the virus, if possible.

2. How can my organization contribute to the betterment of society?

It is time to ponder what you are beyond an organization that meets deadlines and KPIs to reach growth goals. Reflect on the company culture and make changes to be more inclusive. See if there is a way you can make a change towards as many people as you can in your community. For instance, these are some things that you can do:

●  Start a fundraising campaign

●  Get a celebrity to paint and auction their painting for the COVID-19 relief fund.

●  Donate food, medicines, and other essential items to the impoverished and homeless through NGOs

●  Run campaigns on the best practices to stay safe

This is the time for you to give back to the community and emerge as a socially responsible organization.

3. How can I still bond with my customers?

Do not miss out on your customers in the process. It is always going to be essential for you to stay connected with your old customers and engage with the new ones. It has been over six months since the pandemic has started, and things will be more or less similar until a vaccine/treatment arises. That is going to take until the end of the year and mid-2021.

You cannot halt your customer engagement endeavors till then. Nor can you launch campaigns that you strategized in the pre-COVID era.

Repurpose these creatives with contextually relevant creatives and data. Modify your services and product to retain new customers quickly and serve the old ones.

Now that people are craving to be connected. Be creative and engage with people through social media apps, live stream shows for them for general entertainment, or during any company updates, you’d like your customers to know.

4. How precise was your risk analysis?

This is an excellent time to see how your business models are working out. How well you had planned for uncertainty. You will now see the loopholes and strong points in your business operation and workplace culture.

Be quick to enhance the strong points and plug in the loopholes.

For instance, organizations that had not opened up to remote working and hiring specialized teams offshore have found it particularly hard to adapt to the enforced work from home culture.

Some businesses that partially allowed work from home opportunities to people, and were confident about their remote working policies have not been saved either. They found that the maximum number of their employees did not have useful connectivity or working system in their homes.

So, this is the time to repurpose existing rules to be risk-ready for the near and distant future.

5. That’s all great - but how do I generate revenue?

Having said all that, keeping a business afloat is more important than anything else—companies with leaders who were creative, impulsive, and agile and fared far better than the rest.

The reason for this was not only their ability to change for the better as matters worsened, but it was because of their far-sightedness.

Of course, no one could have predicted a pandemic this big, but even before coronavirus, 70% of US employees working in the traditional work culture will be replaced by remote working, and that the former will go obsolete by 2030.

Businesses with leaders who promote remote teams and teams that are cross-functional and specialized have been a boon for SMBs and some big organizations now. Remote teams are not only safe now, but also cost-effective, efficient, and an excellent help to the overburdened staff. Therefore, a definitive way to survive this crisis.

Build your team of experts now

TransForm Solutions has been providing skilled and efficient remote teams for the past 18 years. We strive to empower businesses to streamline their business processes with outsourced talent and remote working capabilities across business verticals. So the leaders can focus on what’s critical and also use their in-house resources wisely.