CEOs predict big changes when pandemic subsides

In late March, CEOs were asked: Do you anticipate any major changes to your business once this all blows over?

To be sure, there will be changes. When COVID-19 subsides, the landscape of nonprofit service delivery will forever be altered. The crisis has exposed fissures in our system of care for seniors that will need to be addressed. Agencies will be asked to examine how they function during tumultuous times. Nonprofits, businesses and governments will need to assess how they collaborate and work together for the common good. Through it all, the Jewish Federation of Broward County will be a steady hand, working to deliver impact wherever it is needed.

Michael Balaban, president, CEO,

Jewish Federation of Broward County

I had already been considering overhead expense, and given that we are fully operational when working remotely, I do see remote work as part of our future. This also keeps the brick and mortar overhead under control. Our insurance lives were ‘darned good’ before this, so I will be very satisfied with ‘business as usual’ once this pandemic is resolved.

Anita Byer, CEO, Setnor Byer Insurance & Risk

Absolutely, there will be many lessons learned from this unfortunate time. Paradigm shifts should be expected in several areas of our economy. Dependency on foreign sources for pharmaceutical products will shift to domestic sourcing; there will be massive supply chain management changes; product and service delivery shifts to digital and online will grow exponentially; work-from-home models will become less of an exception and more the rule; there will be a significant expansion of tele-health and more robust mini-clinics; business continuity planning and disaster recovery planning will change completely; and the list can go on and on. If there are no major changes in the way we protect our borders, prepare infrastructure, revamp inventory and supply chain management, revamp emergency medical response, better protect our constituents, and better align resources to manage the economic impact of these events, we really have a problem!

Carlos R. Fernandez-Guzman, president, CEO,

Pacific National Bank (PNB)

Everything will change. The silver lining is that most businesses have been forced to employ new technologies and approaches that will remain once we pass this chapter and they will be better for it. I believe there will be two paradigm shifts because of the pandemic. First, if remote working succeeds, then companies will take a hard look at how they handle their commercial real estate needs and future operations. Secondly, this isolation could cause millennials and the way they use technology to further limit their social interaction. I think social interaction to some degree will change for all. Will social platforms be further catapulted as a way of life and interaction?

Bernie Navarro, founder and president,

Benworth Capital Partners

This crisis will accelerate our planning and execution of the online and take-out business and help to make us better operators in managing our expenses.

Julio Ramirez, president, CEO,

JEM Global Consulting

I believe the reduction in travel and in-person meetings in favor of video conferences will have a long-lasting effect, as it is far more economical.

Stuart Singer, administrative partner,

Fort Lauderdale office, Boies Schiller & Flexner

Our business model already includes about one third of the staff working as part of a hybrid remote work environment. Although not every job can easily translate into remote work, those who can will be transitioned in time as long as productivity, customer service and return on investment for taxpayers do not suffer.

Evelio C. Torres, president, CEO,

Early Learning Coalition of Miami-Dade and Monroe

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THE MIAMI HERALD CEO ROUNDTABLE IS A WEEKLY FEATURE THAT APPEARS IN BUSINESS MONDAY OF THE MIAMI HERALD. Meet the current members of the roundtable.

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