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Matthew Ellis the Executive Vice President and Chief Financial Officer (CFO) of Verizon Communications has taken part in a newly launched interview with CFO Studio to discuss the challenges between communications teams, employees, and consumers. CFO Studio offers a platform for CFOs of global brands who want to share their vision, insights, and thoughts on current issues or challenges.
Watch the interview in full at https://www.youtube.com/watch?v=XR78SespEdM&feature=youtu.be
The newly launched interview is designed to help other CFOs and communications professionals that may be adapting their strategies for the post-pandemic market, whether they are focusing on their employees, consumers, or both. Mr. Ellis begins by setting the scene and explaining the unprecedented challenges being faced on a global scale have, in some instances, the potential to shape businesses for the better going forward.
Verizon has implemented several practices to support clients and employees. Mr. Ellis explains that over the past few years the company has spent time identifying its stakeholders so it can best serve them. He says Verizon’s stakeholders can be split into four defined groups: customers, employees, shareholders, and society.
When the health crisis first began the communications team at Verizon were able to communicate with each stakeholder group quickly and effectively. For instance, when dealing with employees, the main priority was safety and how their teams could continue to operate in a safe working environment.
Over 70% of company run retail stores were closed, home visits were stopped, and employees were able to work from home where possible. For consumers, the priority was protecting those who are most vulnerable, so the company signed up to the Federal Communications Commission (FCC) pledge not to disconnect or charge additional fees to any customer affected by the crisis.
A spokesperson said: “When people are uncertain, and they do not know what is going on it is hard to be productive. One of the tactics we used was to regularly update our team members and carry out surveys to find out how our messaging was being received by our team. The results have been largely positive, but there are areas we can build on.”
To view the interview in full, interested parties are invited to visit the link provided. Alternatively, click here http://cfostudio.com.
Release ID: 88983124