Insights On Webcast Series: 4 key takeaways on how Canadian businesses can act with certainty
Businesses of all sizes are currently navigating a moment of uncertainty like they’ve never had to before. Now, more than ever, Canadian business leaders need to show up and provide direction whether in the form of protecting, educating, connecting, or informing.
As part of a 5-part webcast series, Insights On, SAP Concur is bringing together Canada’s leading industry experts to discuss key topics to help businesses address how work and the workplace will evolve in this next normal.
In our first webcast episode, Brian Veloso, Managing Director of SAP Concur Canada was joined by Lisa Kimmel, Chair & CEO at Edelman Canada, who shared findings from the recent 2020 Edelman Trust Barometer Special Report on Brand Trust and Coronavirus. This report underlined key insights on how Canadian businesses should respond at this unprecedented moment in time. You can view the recording here, and below are Lisa’s key takeaways:
Communicate with emotion, compassion, and facts
One of the most important things a business can do is communicate with its employees, customers, and suppliers and provide relevant and helpful information. It’s not a time to go dark. After healthcare authorities, 65 percent of employees see their employers as a trusted source of information. There has never been a more important time for business leaders to communicate with emotion and compassion.
At the same time, businesses need to be considerate and remember that too much information can be overwhelming for some people. Giving employees the option to opt-out of frequent updates is one way to demonstrate you’re understanding that everyone deals with tough situations in their own way.
Canadians want businesses to do the right thing
The most important thing for businesses to do right now is to protect employees and help educate them on how they can do their part. Businesses have a responsibility to ensure their employees are protected from the virus in the workplace and that their employees do not spread the virus into the community.
It’s important to note, 89 percent of Canadians want businesses to be transparent and inform the public on how they are supporting and protecting their employees and customers. Some actions businesses can take to protect their workforce include developing a plan to safeguard employees financially and implementing health protection measures for the safety and wellbeing of staff.
Sixty-five per cent of Canadians believe that the way businesses respond to a crisis will have a lasting impact on the way Canadians engage with the business. It is particularly important for business leaders to be thoughtful in their response during difficult times, while acting swiftly to show action and leadership.
Don’t act alone
The expression “we’re in this together” has been used a lot during this time but it has never been more relevant. Collectively, businesses and governments are experiencing this together and it’s important to lean on those relationships.
In this moment, 93 percent of Canadians understand that the government cannot fight coronavirus alone and they expect businesses to fill the gaps. Business leaders are encouraged to collaborate with government and non-government organizations who already have the means and distribution capabilities to provide support and aid relief efforts. By joining forces with organizations that are already making efforts, small and medium-sized businesses can assist in creating a more meaningful and powerful impact for initiatives that are already underway.
Focus on solutions
It cannot be stressed enough; now is a time to focus on solving problems and finding solutions. If possible, consider shifting operations or services to more actively support relief efforts or help fill the gaps Canadians are feeling in their day-today lives.
Ninety-one percent of Canadians want to see businesses make the shift to producing products that help meet current challenges if able to do so. It’s critical for businesses to put sales aside and support in finding a solution where they can.
Join us on May 5th at 1 PM EST for our next webcast hosted by Brian Veloso, Managing Director of SAP Concur Canada, as we look at the role of a finance team during a moment of crisis.