G&A Institute Team Note: We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.
This is post #15 in the series, “Excellence in Corporate Citizenship on Display in the Coronavirus Crisis” – April 10, 2020
#WeRise2FightCOVID-19 “Corporate Purpose – Virus Crisis”
By Hank Boerner –Chair & Chief Strategist – G&A Institute
The team members at G&A Institute are in conversations throughout the day with corporate managers, with the discussions centering on sharing “what companies can do / what companies are doing” to meet the challenges of the cororanvirus pandemic.
That consideration for many companies today is both internally and external focused — the key tasks are keeping people safe, serving the community’s needs, keeping the corporate operations going to be best of their ability, and looking forward to the post-crisis era.
Here are a few selections of what executives and managers and their organizations are doing. As we are thinking…
Life hands you the lemon / squeeze! / make the lemonade!
And get it around to others as fast as you can.
Setting An Example: Cut My Pay, Says Schein CEO
Stanley M. Bergman, CEO of Henry Schein Inc. (important suppliers to the medical community) is taking a temporary cut in salary during the virus crisis. As his company’s client base experiences hazards and cares for patients, the CEO (in SEC filing) will take 100% pay cut.
The company also stopped its share buyback program. The company markets equipment and supplies for clinics, dentist & doctor offices, and other segments of healthcare.
Schein is a co-founder of the Pandemic Supply Chain Network, using its own supply chain for distribution of testing supplies. The network was created at the 2015 Davos meeting as a public-private partnership. Now, the PSCN is part of the global COVID-19 response.
Information for you if would like to become a part of the effort: https://www.weforum.org/projects/pandemic-supply-chain-network-pscn
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Apple & Google Teaming For New “Contact-Tracing” Bluetooth App
And tens of millions of us are not able to not move around, we must be at our posts, picking the crops, stocking the warehouse, driving the truck, stocking the shelves, manning the cash registers at retail.
Or driving the police car to respond to “the unknown”, or the fire truck to extinguish the blaze and save lives. Think about the EMT in the ambulance, hour after hour, running to danger.
Keeping on touch, virtually all of us, mobile and immobile rely on our cell phone…the lifeline to loved ones as well.
For those who must be on their designated post, moving around, interacting, the fear is that the virus could be too close, within reach to infect. To the rescue: Apple Inc. and Google – in a rare partnership, the rivals are adding technology to the phone to alert us if we’ve come into contact with a person with the virus.
This is to be an opt-in feature – “contact-tracing” – that immediately alerts us: quarantine and isolate and then treat or seek treatment because we have been in close contact with an infected person.
Over time we can expect to see this application added to the basic phone operating systems.
Watch for the news in May for iPhones and Android; the management of the system will be by public health agencies. The reports to the phone will be on anonymous basis. As the two companies announced the collaboration, The phone owner must opt-in to be part of the network.
MIT says it is developing a similar system. Of course, there are numerous privacy protection issues – we’ll see how that goes on the rollout.
Facebook Joins the Tracing Effort
Facebook is one of the world’s leading social media platforms (claiming 2 billion-plus of the “connected”). Users are invited to share their own coronavirus symptoms and experiences to help researchers pinpoint “where” the disease is occurring.
Carnegie Mellon, the great tech school, is using the data in pilot effort to try to see where data is telling us help is needed. Such as the all-important ventilators that are in such short supply. Or where “go home/stay home” guidance or orders are needed. The output is going to be shared with public sector health managers.
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Headed to the Drug Store? How Do You Know What You Need is There?
The CEO of the nationwide CVS drug store network, Larry Merlo, was interviewed by Barron’s Jack Hough. The CVS stores are in the midst of becoming “HealthHUBS” (to provide medical services) and strengthening is “Caremark” program for pharmacy benefits management. And now, the CVS workforce is pressed to help customers in the midst of the virus crisis.
Explains CEO Merlo: Home deliveries are up by three times the usual volume. Tele-medicine connections are up two times. CVS waived copays for tele-medicine and for deliveries. COVID-19 testing was starting in Shrewsbury, Massachusetts (in a store parking lot) to do 100-plus test a day. Stores are being kept stocked. Limits are applied to prevent hoarding.
The company maintains close contact with suppliers to keep the pipeline stocked and moving to stores. CDC guidelines are followed in the stores. Cash bonuses are being doled out to hourly store staff, pharmacists, managers. There is day care service where possible; sick leave is granted to part-timers.
Lessons Learned: Keeping mind the Chinese sign for crisis (“danger” and “opportunity”), we learn that the CVS CEO thinks the crisis has helped to strengthen the firm’s confidence in what CVS can do to help to change the trajectory of healthcare delivery.
Pharmacies (local) and tele-medicine (distant) are key elements. The critical role that healthcare professionals play in local communities (where CVS outlets are located) is really being demonstrated today.
Marriott and Hilton have been working with CVS to create a transition for those folks who are furloughed. Speaking of Marriott…
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Holding on to Customers / Serving the Local Community & Responders
Marriott CEO Arne Sorenson in communications to patrons explains that cancellations for scheduled trips are being adjusted out to June 30th (usually 24 hours notice is required). Expiration of points accrued for use at the properties is being extended. “Experience flexibility” is the theme.
And about helping the communities in which the resorts and hotels are based:
- Marriott properties are donating food, pre-cooked and cooked meals to crisis responders, as well as a supply of cleaning products, masks, gloves, sanitizers, wipes, shower caps, anti-microbial wipes, and other supplies to local communities. Hotel windows sport signs and symbols of love and support to those passing by.
- Working with American Express and JPMorgan Chase (two credit card partnering organizations), Marriott committed to provide $10 million worth of hotel stays to professionals on the front lines of the crisis. “Rooms for Responders” are being made available in New York City, New Orleans, Chicago, Detroit, Los Angeles, Las Vegas, Washington DC, and Newark, New Jersey.
- To reach the responders, Marriott is working with the American College of Emergency Physicians and Emergency Nurses Association to help match doctors and nurses with available rooms.
And the “Community Caregiver Program” initiative (coordinated by franchisees and property owners) provides deep discount accommodations near to hospitals to first responders and healthcare professionals stepping up to serve local communities. This is available in North America, the Caribbean and Latin America (at 2,500 hotels to date).
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The Food Supply in the Crisis – Changes in Post-Crisis Behaviors
What is happening in the food sector? Mike Geraghty writing on the Sensient Technologies Corporation platform shares the results of a mid-March 2020 study by Nielsen that forecasts six key consumer behavior shifts happening during the crisis.
The findings will have a major impact on the food industry and will/could lead to permanent changes in the way consumers shop for food.
These are (by their headlines):
- Proactive Health-Minded Buying
- Reactive Health Management
- Pantry Preparation
- Quarantined Living Preparation
- Restricted Living
- Living a New Normal
Under each category headlines there are explanations of the shifts seen in consumer behavior and COVID-19 event markers. There’s valuable findings and shared perspectives here for you from the Sentient folks (providers of color technologies and services for the food and beverage industries).
The commentary: https://sensientfoodcolors.com/en-us/global-markets/covid-19-changing-food-industry/?utm_source=FoodNavigator&utm_medium=Email%20Top%20Text%20US&utm_campaign=COVID&utm_content=Apr%202020
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G&A Institute Team Note:
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency and organize their response.
New items are posted at the top of the blog post and the items posted today will move down the queue.
We created the tag “Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts. Do join the conversation and contribute your views and news.
Do send us news about your organization – email@example.com so we can share. Stay safe – be well — keep in touch!