Top execs weigh in on post-pandemic business prospects
Jiang Ying, vice-chair for China, Deloitte
A1: We are all expecting both short-term measures to continue to support the recovery of business and economy, from tax and social benefit support, financing support, from increasing government purchase, and more, tailored for the small and mid-business, export related business, or business with a supply chain that is globally reliant. More importantly, we hope to hear substantial and optimism for the future, from strong domestic consumption, to accelerated digital transformation of the whole society (from business to government), and even more open policy for foreign investment, to be an active leader and player in globalization.
A2: We are recovering very strongly. Deloitte has responded quickly to form COVID-19 task forces to protect our employees in China and around the world. We created a self-reporting track and trace system for our 20,000 employees in China within two days and we are continuing to use them to protect and manage our workforce in China. Our serving of our clients has never stopped. Working digitally has been a norm for Deloitte China even before COVID-19 and we have accelerated our digitalization of working with our clients during the crisis. In addition, we have produced over 100 point-of-views of supporting our clients to navigate from respond, to recovery, and to thrive, so they can grow stronger in the next normal. Our investment plan has continued and will probably increase or accelerate, especially in the areas of digitalization, innovations ,and new products and services, especially to support our clients to participate in new infrastructure development.
A3: We are a talent-focused organization. The deferral and/or reduction of the social benefit contribution is the biggest support, especially during the first quarter of this year, where our business was slower than before.
A4: As the largest professional firm in the world, Deloitte China has been sharing since February what was happening in China and how Deloitte China has responded and has recovered. These recovery stories inspired and provide a very positive pathway for our practices around the world within our organization and for our clients.
We believe crisis is not to be wasted but to be leveraged for a stronger and more resilient organization. In the crucible of crisis, resilient leaders are defined first by who they are. Our actions are from our heart to protect our workforce, to serve our clients with distinction and to make a societal impact, to stabilize today, and to make decisive action, and to aim for a stronger future.
Looking at now and the future, many are uncertain. But what is certain is tech and digital transformation. This comes across in Asia and more so in China much stronger. Our clients are all looking at accelerating their transformational journey, and China will be leading the way with a ready infrastructure and business model, such as our E-payment system, our E-platform, and our strong mobile network. The New Infrastructure Initiative would certain lead the way in the Asia-Pacific region, and around the world.
A5: As a talent-intense organization, people first is the principle that we follow for everything we do. Deloitte has responded quickly to form COVID-19 task forces to protect our employees in China and around the world. We created a self-reporting track and trace system for our 20,000 employees in China within two days and we are continuing to use them to protect and manage our workforce in China. We are the first professional services firm to announce the Working from Home policy and have continued this policy since. We have provided adequate PPE to protect our employees when they need to work outside of their home. We have been putting our employees' interest to be the first priorities for everything we do. For example, our cutting of pay started with our partners in order to protect the employment of our workforce. We will continue to ensure we protect our workforce who will support our services to our clients for their recovery.
