CEOs: The ‘new normal’ requires flexibility, brings uncertainty

CEOs were asked: In two or three sentences, what does the “new normal” look like for your business now?

The new normal for the businesses I am involved with means having a healthy workforce and a healthy workplace as the paramount concerns. This will require social distancing and possibly more shifts during the week, more people working from home and a hybrid of online and in-person activities. Undoubtedly, this will lead to higher costs for both safety equipment and online technology and support. From a financial standpoint, the paramount concern is maintaining a strong balance sheet and liquidity.

Andy Ansin, vice president, Sunbeam Properties

To meet increased needs, the new normal requires us to have a mindset focused on preparation, agility, accurate data, and a willingness to harvest good ideas from every layer of our organization. It also requires a resistance to siege mentality and instead looking toward new community partnerships.

Michael Balaban, president, CEO, Jewish Federation of Broward County

The new normal has a special rhythm of time. It is less hectic and there is an advantage for meetings to be always on time thanks to remote connectivity and no driving. We are more flexible through the use of technology with virtual meetings, and everybody working from home. In order to manage the new virtual design team at home, communication and collaboration are key. Daily we establish clear goals, understand better everybody’s strength and finding new approaches to teamwork. It was helpful that our core team has worked together for several years so there is no learning curve.

Claudia Busch, founding principal, Berenblum Busch Architects

Certain uncertainty! Too early for financial intermediaries to know what our world will look like, the damage will not be evident until May, June and even as late as July, and recovery will depend greatly on the depth of the damage.

Carlos R. Fernandez-Guzman, president, CEO, Pacific National Bank (PNB)

We have changed our business model from being guided by profit and the bottom line to being a resource to the community, especially for small businesses. We are all in this together. Creating goodwill now will help my company in the future.

Bernie Navarro, founder and president, Benworth Capital Partners

We’ve been surprised at the effective transition to working from home and using video communication for all meetings that otherwise would have required travel. I’m curious to see what portion of this stays and what reverts back to in-person once restrictions are eased.

Sanket Parekh, founder and managing partner, Secocha Ventures

In food and most other retail until there is a cure: 1. Gloved and masked employees; 2. Six-foot separation (in all directions) between and among customers; 3. Cash placed in plastic container to receive and return; 4. Where it can be done, Plexiglass panel (think bank teller) in front of employee doing transaction; 5. More work from home; 6. Remote meetings; 7. Skip seats in sporting events. Finally, let’s enjoy less traffic!

Julio Ramirez, president, CEO, JEM Global Consulting

We have a small group of team members at each of our offices several times per week to take care of essential activities like processing mail, printing checks and accepting deliveries. The rest of our team is working remotely, including field staff who have been assigned other mission critical duties. Other than not being able to conduct our field activities, we have moved into the remote work environment almost seamlessly, but there is no substitution and we can’t underestimate the value of face-to-face contact.

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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