BREXIT – What Should Business Leaders Do?

HOW TO ENSURE YOUR BUSINESS DOESN’T SUFFER FROM THE BREXIT FALLOUT

The level of panic within the financial, political and commercial worlds is unprecedented. Nobody likes uncertainty and we are facing that in abundance.  So what are the most important actions you can take to ensure that your company doesn’t sink under the weight of doom and gloom?

Lead Through Proactive Communication

First and foremost you need to lead through communication. At times of uncertainty all staff members look to the leadership of their company for reassurance.  And that means they want to hear from you.  Fear and uncertainty are fuelled by lack of information.  Rumours spread and they can often become the drivers of fear if there isn’t a regular flow of information from credible sources.  Consider what your staff will want to know and be proactive in regularly updating them using multiple channels with honest and factual information.  If you hear rumours, challenge them with the facts.

Enhance the Customer Experience

Secondly, recognise that the companies which are better able to withstand any crisis are those which give customers a compelling reason to do business with them. Whilst price will always be an influence, it is vital to consider how you can retain existing customers and attract new ones.  By demonstrating empathy with their position, you are more likely to build loyalty.  It’s time to consider how you can adapt your service and differentiate yourselves from the competition through the quality of your customer experiences.

Process Efficiency

Thirdly, consider the efficiency of your processes. Whilst it is vital to enhance the customer experience, it is also critical that you review your processes.  Every company should strive to reduce the length of time between receiving an order and payment.  This means that you minimise the waste of resources, time and people.  LEAN is an excellent tool to ensure that you focus your effort on high value activities, reduce duplication and unnecessary checking.  This can improve your customer experience and significantly reduce costs.

And so, hold onto your hat, it could be a bumpy ride ahead. Perhaps you can use that turbulence to ensure that you are refining your customer service, processes and your leadership communication.

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Simon Bernstein, MD, Empathy Communications Ltd.

For more information contact simon@empathy-communications.co.uk

or visit http://www.empathy-communications.co.uk/