April 2020

People over profit – that is the message coming out of almost all businesses right now. Thankfully, most companies are not willing to place their people in danger in pursuit of financial results. Much of the country is working from home, key employees are working differently, and South Africa continues to be praised for its ruthless approach to battling coronavirus.

But many still talk of ‘when this is over’ and ‘when we get back to normal’. Unfortunately, normal is not going to return to the market for some time. Combine the profound economic impact of the pandemic on global markets with the Moody’s downgrading and you have a recipe for business meltdown. There will be unemployment, currency crashing and slumping demand across all sectors.

Those companies that have positioned themselves strongly are those that might ‘come out the other side’. And, importantly, those that continue to communicate with the market about their plans, are those that will be remembered by customers as good corporate citizens.

Our lead features this month come from those that may prove to be vitally important during tough times. Iemas Insurance Brokers, one of the country’s leading short- and long-term businesses, is going digital so that more people can access products quickly and easily. Curo Fund Services is also investing in improved digital services so that its clients can realise a more seamless service than ever before.

Perhaps this outbreak, and the associated social distancing, will be the catalyst for more and more businesses to speed up their digitisation strategy so that they can truly take advantage of the modern technological age. Or maybe it will be the end of society as we know it.

Let us know what you think. How is working from home? What is the market like while the news continues to worsen? We’re online through LinkedIn.