Zambia reported its first two cases of COVID-19 on Wednesday 18 March 2020. Two years later, and we are continuing to embrace the 'new normal’ as we are adapting to the impact that COVID-19 has had and continue to have on our lives, businesses and the global economy.
The pandemic has tested businesses' agility and resilience, inhibiting growth in some industries, while enabling others to thrive - a stark contrast between the tourism and pharmaceutical and telecomms sectors.
Change or be changed
Regardless of the side of the coin businesses are on, they had to learn and unlearn what they have known as conventional business.
In Zambia most businesses have had to ensure employee and customer safety in line with the Ministry of Health guidelines by recalibrating their business models to reduce or limit the number of people in their business premises at any given time.
Telecommunications as well as the infrastructure and technologies that enable it, have become critical components of business decisions. Change or be changed, right? According to Global Workplace Analytics, 44% of businesses operate remotely (in the last four years), 51% (in the last decade), and 159% (in the last 12 years).
FNB Zambia was not spared from the pandemic's challenges. Our response was to create a work environment that allowed for telecommuting while ensuring that our clients were not inconvenienced in any manner. In February 2021 we implemented a work-from-home policy to ensure that our service delivery was not compromised. We migrated a considerable amount of our customers to our digital channels.
Our commitment to constantly innovate remained unquiveringly, by “starting to do what’s necessary, then doing what's possible and suddenly realising that you are doing the impossible.”. Almost a year later and we have 60% of our employees working from home across our network. The goal has been to have a blended working model especially in light of the world opening up with increased vaccinations in some areas.
For FNB Zambia the choice between employee and customer safety and keeping the current operating model was an easy one. What remains a source of contention is how we are prioritising the health of our employees and customers, while continuing to service their requirements and preserve the business. This was a true test of our innovative nature. Not only has this enabled us to develop a more resilient workforce, but it has also reinforced our commitment to putting employee wellness first. This was an appropriate response to the pandemic and the way we conduct business.
The writing is on the wall: businesses must consider their options for survival now and in the future. While capacity and readiness vary by business, we believe we are living in a more digitally advanced world that will enable businesses to provide goods and services to customers with less human interaction while maintaining a high level of customer service and experience.
Working formula
Businesses have an opportunity to adapt their operating models and thrive as we are witnessing a sea change in various sectors as a result of enabling and investing in technology. Digital banking, e-commerce and agency banking are the buzzwords in nearly every sector, as businesses seek to operate more efficiently and reach more customers speedily and conveniently. For example, e-commerce is a platform in which all sectors, including the public sector, have invested. Banks and telecommunications companies are two notable industries that leverage the e-commerce space.
What is the working formula? Trust in the workforce and make an investment in technology that keeps the business consistently connected and agile. Our response to the pandemic is not a one-size-fits-all and does not necessarily have to be replicated by businesses. Rather, it serves as an example for businesses large and small to rethink their business models and ensure that they are future-ready as change is an unavoidable part of the dynamic environment in which we operate.
Whichever model the business chooses, the objective is to constantly innovate and adapt in order to prioritise the health and safety of customers and employees.
by Kapumpe Chola Kaunda is the Head of Corporate and Investment Banking at FNB Zambia