As a leader in Transition Management, FAITHFUL EXECUTIVE had to face up to the Covid-19 pandemic. What was the firm’s secret to helping companies in need? Dorothée BAUDE talks to BFM about crisis management.

The first thing to consider is cash flow. To preserve it, you need to take stock of the various suppliers, so as to keep only the essentials. Secondly, we need to take a more rigorous approach to collections, because we know that companies can stop paying overnight. I also recommend more directive management, benevolent but firm, to set the course and reassure. Crews need to know even more that there’s a pilot on board. Let me remind you that the objective of the manager is to ensure the safety of his or her employees.

At FAITHFUL EXECUTIVE, we felt that managers were affected and needed to talk about it: it’s up to us to listen and empathize. And like everyone else, we’ve made real financial efforts, and that’s normal. We have to stand together.

Since March 16, we’ve been holding up to three regularly scheduled videoconferences a day with FAITHFUL EXECUTIVE’s teams. The aim is manifold: to motivate, energize, set achievable goals and congratulate successes, even more than usual. I don’t see the crisis as a defeat. On the contrary, it creates opportunities and we have to adapt. There’s wisdom behind it all. We know very well that overcoming hardship is the best way to grow. It’s a real apprenticeship.

As for me, once I’d got over the shock, I lived for the survival of my business. After 4 days, I took a step back and made the decisions I needed to make. Sport helped me! 15 minutes a day is enough to decompress. Crisis or no crisis. If the manager is in good shape, so are his or her employees.

Don’t be influenced by the negative, turn off your televisions. It’s time to rethink the business, innovate, make strong decisions and move forward. We have the technological means to do so, so let’s continue to create value by surrounding ourselves with the right people.