Around the world, measures to contain or reduce the economic consequences of COVID-19 were uncomfortable and forceful, but necessary. Among them we can mention the obligatory stopping for some businesses and/or services and the isolation of workers. These are actions that millions had to put into practice but that remain and will continue in the near future — despite the relaxation of the social distancing measures that many countries are applying.
In Mexico here in June 2020, we are at the worst moment of the pandemic. However, we can already get down to work and apply the lessons that other countries have taught us regarding economic recovery and crisis prevention, even if it’s not caused by a virus. Let’s look at some of them:
- Communication strategy
Communication is essential to stay close to consumers, even if the company’s operations have had to stop. In this sense, it’s important to spread positive messages that will help them assimilate change, give them hope and keep them informed responsibly in times of uncertainty.
These types of actions “humanize” brands, which helps keep them in the minds of consumers after the pandemic.
- Special resources
Each country is applying its own strategies to support small and medium-sized businesses, as they are the basis of the economy and employ large numbers of people locally). In the case of Mexico, the government offers microcredits to finance ventures; likewise, the “consume local” campaign is carried out in order to strengthen the economy by purchasing goods made by small producers.
- Connectivity and cybersecurity
COVID-19 and the quarantine have increased internet consumption and exchange of sensitive information by companies, which is why cyber criminals are engaging in more and more phishing attacks.
To combat this, Mexican companies must implement stronger security measures. These can include restricting the use of public networks for their collaborators to avoid cyberattacks, using secure protocols for remote access (VPN) and having dedicated software ready for installation on employees’ devices, in case they use them for work.
Likewise, to ensure connectivity, they can opt for secure and stable internet access alternatives, such as a satellite connection.
- Emergency plan
Unfortunately, according to the president of the Chamber of Commerce, Services and Tourism in Small (Canacope) of Mexico City, Eduardo Daniel Contreras Pérez, up to 40% of businesses in the capital will not reopen after the pandemic.
One of the reasons is that the vast majority of companies of all sizes do not have a basic emergency plan that details the aspects to be considered in case of crisis. They may lack things like a plan for the responsibilities of each business unit and individual will have (bosses, managers, collaborators); they may be too decentralized or even be without the communication channels and tools necessary for remote work.
According to data from the National Autonomous University of Mexico, only two out of 10 companies are prepared for remote work due to technological lag and low investment in training.
The economic situation caused by the pandemic is a major challenge for the entire planet. However, today more than ever, it’s evident how much we depend on each other. We can and must learn from others to succeed together.
Read more about reliable sources to stay up-to-date on the COVID-19 pandemic in Mexico.