How to Think Beyond a Crisis
- Leading a team and satisfying customers isn’t easy in a crisis.
- Here’s how three chief financial officers did it — and what practices they’ll keep in the future.
Give your customers a break:
- Square decided to refund software as a service (SaaS) fees to its customers in March and April 2020 at the onset of the pandemic
- The company also allowed customers to pause subscriptions and even offered some services for free in certain circumstances.
- This type of method was also used by Jio for its data renewal recharges initially.
Embrace empathy as a leader
- Even in non-COVID-19 times, transparency has always been a big part of any company’s culture.
- Having a heart and a solution-based approach to everything faced by employees and the company has always proved beneficial.
Rethink your workspaces
- Square surveyed its employees to find out what they wanted.
- The majority of its staff — 70% — want the flexibility to work from home some days and go into the office on others.
- Square plans to have hoteling desks and large, social spaces where people can get together and collaborate in person.
Plan for a digital-first reentry
- There are technology trends that are happening.
- Digital transformation has accelerated.
- Companies can make sure they’ve got resource allocation and capital allocation focused properly on what the company should look like post-COVID-19.
- As one example: Dell is now doing its quarterly closes virtually.
To know more about these tips, read the entire article : https://mitsloan.mit.edu/ideas-made-to-matter/how-dell-square-and-wayfair-think-beyond-a-crisis
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