2020 has marked the greatest period of uncertainty and economic volatility our generation has ever faced.
Yet some organizations have quickly adapted to the shifting forces that have short circuited the economy, and are surviving—even thriving—during the crisis by using:
To uncover and pressure test the solutions that can help them find success.
To act with enough speed and commitment to uncertainty and adapt to volatility.
Just 39% of workers think their company is prepared to withstand an economic downturn
Asian, Hispanic, and particularly Black people are much more likely to say they’ve lost their job during the crisis.
Black women are nearly 2x as likely as white men to say they were laid off, furloughed, or had hours or pay cut due to the pandemic.
The top 3 cited ways businesses are responding to the coronavirus crisis, among those who say their company is prepared for a downturn:
Our research shows that those with the best outlook for weathering the crisis aren’t just lucky. They share two fundamental traits that makes them especially suited to adapt, survive—and even thrive.
The willingness to explore, seeking new opportunities and solutions by using data and feedback as a guide.
The ability and resolve to act quickly to adapt to new paradigms by fundamentally changing the established order.
The State of Rhode Island
The smallest state in the country is dense, with an older population, and is nextdoor to New York, the early epicenter of the US coronavirus epidemic. Nevertheless, Gov. Gina Raimondo has developed an effective strategy for using technology to track and contain the outbreak in her state.
The town of Breckenridge
When local businesses in Breckenridge, Colorado, felt the impact of a dramatic drop in tourism, the town quickly moved to support them with $1 million in grants. When every second counted, the city swiftly processed applications and distributed funds to keep small businesses afloat.
The most agile, curious organizations have happier customers, stronger bottom lines, and employees who are more confident that their company will weather the pandemic. Read more about why these companies are coming out ahead in the pandemic.