THE CHANGEMAKER

Businesses across the country have mobilised in recent months to help Britain in its biggest crisis for generations. But the nation needs many more to join them in the fight...

Everyone is making sacrifices right now in the name of stopping the spread of COVID-19. Lockdown initially separated families, while personal finances were, and continue to be, eroded. Society’s most vulnerable people, including the elderly and the homeless, still face a heightened risk of health and social dangers; and need our help more than ever. Meanwhile, armies of doctors, delivery drivers, supermarket employees and other workers have risked their own health on a daily basis to help the country through the crisis. Against this chaos, now is the hour for businesses to step up and play their part. These are incredibly tough times for employers, with many teetering on the brink.

The crisis could cause a permanent shift towards profit “ with a clearer purpose

But those that have managed to get their house in some form of order – and in doing so protect the jobs that they can – are now looking beyond their own four walls and asking what can they contribute to the national effort to help Britain through. The age of profit with a purpose in business has reached a defining moment. Was all the talk about being impactful and caring about communities and the wider world just that, or can it now be backed up with practical action? Businesses have always been a strong force for good, but lip service from big corporations about their good intentions has increased in recent years. This has come amid rising numbers of customers becoming more discerning about who they buy from. Now is the true test of their convictions however. Of course there are many examples of employers being a force for good in the COVID-19 storm. Many factories raced to produce ventilators and face masks. Pharma firms and universities remain locked in the search for a cure. Telecoms and technology companies are working round the clock to stop our infrastructure from overloading. Retailers large and small are still getting vital deliveries to people stuck at home in various parts of the country. But businesses are also responding in less obvious ways. At the start of the crisis we founded the C-19 Business Pledge and put out a call to employers to commit to doing more to help Britain through the crisis. Since then, well over 170 organisations representing two million-plus employees and students have signed up. In doing so they have committed to going the extra mile for customers, staff and communities across the UK. It means helping people to overcome both the immediate challenges of coronavirus, but also in the long haul to recovery for months to come. Signatories include Asda, Everton Football Club, Nestlé, True Potential, PwC, Royal Bank of Scotland, Sainsbury’s, Shell, TSB and Unilever. Higher education providers are doing their bit too, with over 20 universities spanning the UK, including East Anglia, Middlesex, Staffordshire, Stirling and Plymouth, also signing up. Others committed to the C19 Business Pledge include BP, Barratt Developments, BT Group, Co-op Group, DLA Piper, SSE, Persimmon and Tarmac. They have agreed to meet three main objectives. Firstly, to develop plans to support their own staff throughout this challenging time. Next, to publish clear and simple advice for customers. Where possible they should have specialist teams dedicated to supporting customers if they are having problems. Finally – and this is perhaps the biggest commitment – they should do what they can to help communities in Britain through the epidemic. During the crisis and in its aftermath, we are likely to see isolation, loneliness, mental health issues and debt problems all on the rise. Practical support for anyone vulnerable to these and the legion of other problems that could emerge will be integral to our recovery. In years to come, we will look back on this crisis and ask ourselves what we did to help. Employers will do the same and their action or inertia will be noted, by staff, potential customers and the communities they serve. But this is no PR exercise. It could be a long slog and, in fact, the crisis could cause a permanent shift towards profit with a clearer purpose. Corporations have long talked about purpose and now is their chance to prove that they mean it. In my own sector of financial services, meanwhile, I hope an additional permanent change occurs as a result of the virus. We’ve known for decades that the average Brit isn’t saving enough for the future – whether that’s to fund retirement or an unexpected expense. The coronavirus crisis, and its impact on jobs and entire industries, has reminded everyone of the importance of having a financial safety net. While many people are inevitably experiencing immense financial difficulties right now, I hope at least one positive to emerge from the crisis is a newfound national focus on saving for the future.