Q: How does Singer (Sri Lanka) view the evolution of technology beyond COVID-19?
A: The use of technology evolved rapid- ly as we had to adapt to COVID-19.
Customers who did not use computers often prior to the pandemic are using digital devices for work, online transac- tions, and digital payments and commu- nication – this demonstrates a major shift from traditional to digital mediums.
The pandemic also presented new opportunities due to changes in con sumer patterns. This requires facilitating the transition through our products, selling platforms, and marketing and communication.
We anticipate another year or two of changes in the use of digital devices at all levels, compelling people to adapt.
Q: And how can businesses navigate the pandemic?
A: The main priority is ensuring everyone’s safety while maintaining business continuity. Singer has taken many measures in this regard.
Staff members at all levels must be prepared mentally and physically to contend with the crisis. This entails keep- ing them positive and motivated, as well as physically pre- pared, if they need to be present at the workplace.
Furthermore, employees must know the top manage- ment’s strategy to safeguard jobs while ensuring continu- ity, to demonstrate resilience and provide hope for a quick comeback. Meanwhile, sustainability or growth momen- tum must be ensured to maintain cost structures at man- ageable levels.
Singer recognises the need for balance in these areas and has taken measures accordingly, which was reflected in our performance during a very difficult year.
Q: Where do you stand on the debate about work- ing from home (WFH)?
A: Business models that were designed for WFH were able to acclimatise but companies with field-based structures may have found it less effective.
Singer’s operations encompass island- wide retail, manufacturing, trading, dis- tribution and services so WFH is virtual- ly impossible in the context of some roles but we were compelled to adapt as there was no alternative.
Although WFH became the ‘new nor- mal,’ companies lacked monitoring mechanisms to measure productivity. Personal integrity and commitment are needed to ensure that individuals expend the same effort as they would in the workplace.
Going forward, businesses are likely to rethink strategies and evaluate whether some operations can shift to WFH permanently. This will enable us to save costs while peo- ple can be close to their families and productive simultane- ously.
Q: Where do you stand on the debate about work- ing from home (WFH)?
A: Business models that were designed for WFH were able to acclimatise but companies with field-based structures may have found it less effective.
Singer’s operations encompass island- wide retail, manufacturing, trading, dis- tribution and services so WFH is virtual- ly impossible in the context of some roles but we were compelled to adapt as there was no alternative.
Although WFH became the ‘new nor- mal,’ companies lacked monitoring mechanisms to measure productivity. Personal integrity and commitment are needed to ensure that individuals expend the same effort as they would in the workplace.
Going forward, businesses are likely to rethink strategies and evaluate whether some operations can shift to WFH permanently. This will enable us to save costs while peo- ple can be close to their families and productive simultane- ously.
Q: How did you look to sustain business in the past 12 months or so?
A: We aimed to address the pandemic from multiple angles – viz. safety, employees’ motivation and financial stability, and optimising operational areas.
Given the sectors Singer is engaged in, its workforce comprises about 3,300 direct staff or more than 7,000 including indirect employees.
We worked to secure their jobs, and paid all salaries, increments and bonuses to drive motivation, ensuring their loyalty while offering hope for the company’s long-term stability.
We also continued to communicate with internal and external stakeholders, which helped maintain their confi- dence in the company. This gave us the support needed to restart operations without much difficulty.
And finally, we ensured the availability of products by revamping our online channels, empowering consumers to make decisions quickly. As a result, Singer performed bet- ter than initially predicted.
Singer being conferred Gold at the SLIM Restart Resilience Awards 2020 and the recent Fitch Ratings upgrade to ‘AA (lka)’ serve as endorsements of the mea- sures taken to sustain the business.