COVID-19 and The Workplace: Why Purpose Driven Leadership is More Important than Ever
By: Great Place To Work
Tags: Covid 19, Workplace Culture, Corporate Culture, Leadership, Coronavirus

In just a short time, Coronavirus has had a major impact on the world.

Ushering in a new normal of social distancing, unprecedented unemployment records and leaving people everywhere unsure of what comes next.

People are having a shared experience of anxiety surrounding their well-being and financial futures. And those concerns don’t disappear at work.

COVID-19 is challenging businesses like never before.

As in any time of uncertainty, companies across the world are naturally concerned about the impact to their financial performance.

Employees are now looking to leaders and executive teams to take actions that protect both them and the business. The pressure and urgency make it tempting to act quickly, without thoughtful consideration of all potential consequences.

How companies respond to COVID-19 today will impact their business well after public health and the economy recovers.

Now more than ever, leaders must do what’s best for their people and the organization, while keeping core business values top of mind.

Here are a few ways you can guide your teams through COVID-19’s impact on your workplace:

1. Consider how COVID-19 impacts everyone

Purpose driven leaders think about the emotional, psychological and physical well-being of every employee as well as their families, friends and pets.

To come to a set of decisions on how to proceed, seek out the most comprehensive factual information from reliable sources such as cdc.gov.

2. Mitigate financial concerns

Purpose driven leaders make sure people can keep working safely and comfortably in a manner that keeps them financially secure.

The key here is to ensure health benefit costs can be minimized and reduce worker hours only as a last resort. Leaders should be looking for ways to put money into their employee’s hands. The majority of Americans don’t have $400 at their disposal for emergencies (reduced working hours, covid-19 tests, childcare, eldercare costs and so on).

If pay reductions are necessary, then what’s good at the bottom is good at the top. The executive team at NBCUniversal donated 100% of their salaries

3. Get prepared for the economic downturn

Purpose driven leaders run financial models with recession assumptions to assure the business is prepared. They refine recession and post-recession strategies and determine the people that will be required to drive innovation by all.

Ensure that any advancements you’ve made in the last five years to create a diverse and inclusive workplace are not erased due to layoffs or reorganizations.

Research proves that diversity drives innovation.

Companies who ensure key frontline groups have a consistently positive experience thrive in recession, while others fail.

4. Adjust sick leave policies

It’s critical that employees minimize their risk of infection. An immediate review of sick leave policies can help you encourage them to do the right thing and stay home when they are ill — both for their own safety and for the safety of their colleagues.

This is critical to slow the spread of the virus and to assure that people are well cared for.

5. Exhaust your options

It’s hard to talk about point number three with employees because it can make them feel less psychologically safe due to financial insecurity. But it is best for leaders to ensure a profitable future for the good of all employees.

Purpose driven leaders work to make layoffs the absolute last resort.

Review costs and debt levels, so the business can be prepared to finance its way through the recession. Keep in mind the money not being spent — money in the travel and events budget for example — and get creative on how to cut costs while retaining the business’ most valuable asset: the people.

Workforce reductions should be made only when you have no other option, and they must be handled equitably and fairly.

6. Communicate often and openly

Leaders should share the why and how behind decisions whenever possible.

As the business changes rapidly, frequent and authentic communication will preserve employee engagement and boost truth within the organization.

7. Double down on listening

Communication is a two-way street.

Purpose driven leaders ensure that management and HR are in sync, with multiple messaging channels to make sure they know what is going on in the minds and hearts of the people.

We’ll get through this.

However long COVID-19 impacts the workplace and our lives, eventually we all will have to adapt to the new normal waiting on the other side.

And the world will understand that we are all connected and better together than apart.

With thoughtful purpose driven leadership, your company and your people will thrive both during and after this time of uncertainty.

For more support and advice on how to manage and lead in these times, visit our COVID-19 HR resources.