Hartford Business Journal

www.HartfordBusiness.com • June 1, 2020 • Hartford Business Journal 25 OPINION & COMMENTARY So as we lead our teams through business-as-usual and unusual times, we must not forget that peo- ple need to feel informed, cared for, connected, included, involved, safe, trusted, and a sense of community. Fostering a healthy climate for others is perhaps the most impor- tant responsibility you have as a leader, with your behaviors being the primary driver. It is not easy to be this "climate cre- ator" under normal circumstances, as it requires continuous focus and inten- tionality. So, shaping climate remotely may seem daunting. The good news is that the behaviors required are not dif- ficult. As leaders we just have to make the choice to put them into action. During this pandemic we are bombarded with the phrase "now more than ever" as people empha- size the relative importance of an action BC (before COVID-19) versus DC (during COVID-19). Well, creating a healthy climate for your team is important now more than ever. Your team will not soon forget how you made them feel during these unprecedented times, and if and how you were diligent and intentional about the climate you created for them. Leaders fail when they do not lead. Here are a few practical actions leaders can take: • Take care of your whole self. Put the proverbial oxygen mask on first, so that you may take care of others. • Be transparent and clear on ev- erything you can. While there are many questions for which you do not have the answer, focus on the things you do have clarity on — priorities, caring for the custom- er, values, deliverables, etc. • Create a safe virtual climate for your team in which they can speak up, share, ask questions, raise concerns and problems, and ask for help. • Trust your people. • Maintain the safety and well-being of your people as your No. 1 priority. • Make sure that nobody on your team feels left out, isolated, dis- connected, or lonely. Bottom line: Business and people leaders must practice creating a healthy climate of connection for their employees and customers with the same level of intentionality, discipline and rigor they are practicing and rein- forcing social distancing. Scott Willett is a principal at Pennington Human Dynamics Inc., an international organizational effectiveness consulting firm. TALKING POINTS Will customers come back? By John Graham W hen we narrow down the current COVID-19 economic situation, we're all in the same boat. No matter who we are or what we do, getting back to doing business hinges on having custom- ers. Whether we like it or not, there's no guarantee they will be there. Although it may be disconcerting, here's why: • Some customers will decide they don't need us. Their situation will have changed and they've moved on. • Others will have found new solutions. Com- petition will be fierce with appealing options popping up everywhere. • More customers than we dare imagine will have simply disappeared, whether individuals or companies. For one reason or another, they aren't around anymore. • Many will be far less accepting and far more demanding than they were in the past. • Others are so stressed and preoc- cupied with their situation, they're unable to make decisions. This may not be where we would like customers to be, but it's where they are. So, what are we to do? Here's a checklist for reaffirming relationships with existing customers and building new ones with prospects. Customers perceive us as being authentic. Pointing to growth from Knowledge's Coro- navirus Consumer Pulse findings, Marketing Insider's Stacy Bereck says that "85% of U.S. consumers feel that the way brands behave dur- ing the COVID-19 crisis will affect their desire to do business with those companies in the future." We let them know we want to understand their situation. Call it empathy or whatever you like. Consumers want to feel they are doing business with those who are interested in them and not just making a sale. We introduce ways for customers to stretch their money. Here's how the Betty Crocker folks are responding to this obvious challenge. "Impossibly easy dinners for $2.50/serving. Dinner doesn't have to be spendy to be delicious. These fuss-free recipes are big on flavor and easy on your wallet." Right upfront they make it clear why their recipes are a good fit. They use the right keywords: easy, inexpensive and delicious. A winning combination. We help them avoid making purchasing mistakes. I can hear someone say, "That's not a salesperson's job. I'm there to make a sale." That was then. Now, it's the smart salesperson who takes time so customers can arrive at an informed buying decision who will get the business — and be remembered. We focus on helping customers. Explore options with them. Not good, better and best; not low, medium and high prices, but options you and your customer develop together such as poor fit, good fit, and best fit. We don't think we can pick up where we left off. Let's face it, there's not much worse than being unwillingly slowed down, side- lined, and told to stay home. We may be charged up and chomping at the bit to get going. Even so, it's not like coming back from vacation. We need to give both ourselves and our custom- ers time to adjust to a new and different situation. And, finally, our customers will stay with us if we let them know we're depending on them. Some will see this as a sign of weakness and take advantage of us. But if we believe in build- ing relationships, it's a chance worth taking. John Graham of GrahamComm is a marketing and sales strategy consultant and business writer. John Graham than two or three months." Mais said his agency received a slew of questions related to business interruption policies when the pandemic first hit, but they've tailed off since then. He wouldn't comment about states' attempts to interfere with such insurance contracts, but the National Association of Insurance Commissioners, of which he is a member, recently said it opposes any proposals requiring retroactive coverage of business interruption claims based on COVID-19. "I think in general this is one of those risks that is so big that we need the federal government to step in and help, if small businesses are to be protected like they should be," Mais said. Meantime, insurance executives, who are typi- cally conservative in their public statements, particularly around legal matters, haven't been shy about voicing their concerns. "Any effort to retroactively rewrite these con- tracts, presume coverage, or remove exclusions would threaten the very foundation of the insur- ance industry, the sanctity of contracts under our Constitution, and the principles of a free market economy," said The Hartford's Chairman and CEO Chris Swift during a recent earnings call with investors. "Doing so would threaten the ability of carriers to pay losses rising out of everyday covered perils our customers will inevitably face in the months and years ahead." He continued: "We understand that policy- makers and regulators are under extraordinary pressure to provide even more assistance to businesses they represent, but unlawfully and un- constitutionally shifting those losses from one in- dustry to another is not the answer. The industry has an obligation to vigorously defend the terms and conditions of its insurance contracts and preserve the principle that premiums are paid for specific risks covered by the insurance policy." Listen, I'm no big defender of the insurance indus- try. Insurers have made plenty of money over the years and aren't viewed favorably by the general pub- lic, particularly homeowners in eastern Connecticut snake-bitten by the crumbling foundations crisis. But we can't upend an industry simply because there's popular sentiment to do so. Only the fed- eral government can address the financial risks that arise from a global pandemic.

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