The Conference Board Middle East and North Africa Briefs

In the initial “shutdown” phase of COVID-19, boards and governance professionals stepped up to address the crisis – increasing communication and focusing on the urgent topics that mattered most. But the next phase will be even more challenging, with a growing list of items that need to be addressed in the near term and have long-term implications. This blog offers actionable insights for boards and senior management to consider in their continued response to these shifting priorities.

When it comes to addressing racial inequality and injustice, here are a few takeaways from what we’re hearing from our members that, we hope, will provide a springboard for discussions that transform ideas into concrete actions.

What community relations have long practiced is even more critical after the death of George Floyd. We often talk about the authenticity of “bringing our whole selves to work;” the concept works with bringing our whole company to the community. Beyond basic business functions, we bring our core competencies, and our corporate citizenship strategies to the community through cash, in-kind and product donations along with expertise; much of it delivered through our amazing employee volunteers.

Establishing a 10b 5-1 trading plan for high-level employees who have access to material non-public information is a practice that every company should consider instituting, especially since the outbreak of COVID-19 has resulted in stock market volatility levels not seen since the 2008 financial crisis and corporate insiders are regularly informed of material non-public information.

There are financial, social, and health implications for companies, employees, and communities as we think about reopening the economy. Recovery will be a long and winding road, and companies have an opportunity not only to help lead but to help take us to a more green, humane, and thoughtful world.

As of May 4, 42 percent of the total French workforce was either fully or partially unemployed, representing 12 percent of total annual hours worked and with an output equivalent of 11 percent of annual GDP. Half of that GDP loss is associated with just three industries: manufacturing, wholesale and retail trade and construction.

Food security for vulnerable communities and front-line responders has taken on increased relevance and importance during the COVID-19 pandemic. These are five organizations that are responding in herculean way to help those most in need.

The actions we take and leadership we provide in supporting our organizations and communities through this crisis will strengthen their trust in us and our ability to once again rise to future challenges.

Two months ago, corporate citizenship and philanthropy professionals were primarily treating COVID-19 through their disaster relief plans and focusing on China. Now is the time to shift gears by looking at our own communities and the most vulnerable.