Eyal Gutentag discusses how management can refocus on purpose to face challenges presented with COVID 19
Eyal Gutentag discusses how management can refocus on purpose to face challenges presented with COVID 19
As we continue through the global COVID-19 pandemic, many management teams are struggling to keep their teams motivated and focused. Companies are feeling increased pressure, and stakeholders are often left feeling nervous. Eyal Gutentag, a proven growth and performance marketing leader, has helped many organizations remain steadfast through a crisis. According to Eyal, one of the most effective ways for management to handle challenges presented by the COVID-19 crisis is to refocus on their mission.
Even during a global pandemic, an organization’s mission should stand strong. If a business is struggling to stay on track, it may be time to revisit its purpose. What is the ultimate goal? What are the company’s values? What type of impact does it want to have? While many companies have a mission statement and at one point defined their purpose, those statements are often long forgotten when stress levels rise. It is important not just to have your mission statement listed on your about page, but to actually use it as a guidepost of your management strategy. When making decisions in your organization, deferring back to your purpose is key.
Deferring to the organization’s mission is particularly vital during a crisis, when the organization may be under increased pressure. Purpose-driven companies thrive during challenging times for many reasons.
Here are a few ways that refocusing on a company’s mission can help management face the challenges presented with COVID-19:
A strong mission helps engage the workforce.
When employees understand the mission and values of a company, they feel motivated and engaged. A strong purpose unites a team in meaning. Studies have shown that teams who feel a stronger sense of purpose are more likely to stick with an organization through tough times. Review your mission statement, and if it’s needed, revisit it with your team. Understanding the motivation behind the work can absolutely reinvigorate a company during a difficult period.
Purpose promotes loyalty.
Not only does understanding purpose help keep employees engaged, it engages your consumer base. A strong mission builds loyal customers who are more likely to continue supporting your company during hard times. 80% of consumers have said they are more loyal to brands with a strong mission. Remaining steadfast to your purpose can help maintain consumer relationships during a downturn.
A mission statement can be your guidepost for evolution.
Many companies have had to grow and adapt during this crisis. It can be important for an organization to transform when necessary to meet new demands. When management is making any major changes, Eyal Gutentag recommends using their mission statement as a guidepost. Organizations that have a strong sense of purpose often have a better sense of when they should adjust, and when they should remain on course. When facing hard decisions, revisiting core values can make a transformation more natural. During the COVID-19 crisis, it is important to let your purpose be the focus of your evolution. Instead of reacting out of fear, look at what drives your company. The organizations who will thrive during this crisis will hold fast to their meaning, even as they change and grow.