04 Jun Millennial in the boardroom: Building corporate trust and resilience amid COVID-19 pandemic
Trust is highly vital and umbilically connected to corporate success. And it is during the onslaught of the COVID-19 pandemic that we have seen how companies—those who were able to map out its strategies and have proactive leadership teams—go up the pedestal with a relatively robust footing.
For MFT Group of Companies CEO Mica Tan, trust-building among customers, clients, employees, and society is considerably the single most important and urgent agenda that businesses have to focus on to achieve its most important goal these days.
During one of the Institute of Corporate Directors’ (ICD) webinar series focusing on the urgency of building corporate trust in the time of the pandemic, Tan talked about the crucial role of millennial leaders, like herself, in keeping the company’s reputation and value favorable and its workforce motivated during challenging times.
Amid this global pandemic, MFT Group is one of the businesses that has proven its agility and adaptable mindset in weathering the storm. Now, more than ever, is the time to hold a growth mindset and shore off stakeholders’ trust, Tan said.
“I embraced the role of forging different kinds of perception, and we have a unique perception of time at MFT: We have two weeks in one week. And I’ve been trying to make this work in the past few years; and during COVID, this was when all leadership embraced it. We are able to pick up fast, we communicate more effectively, and it allows the organization to think differently, more aggressively,” she added.
MFT Group also benefited from the passion and drive of the millennial generation. “Millennials are motivated by their ‘why’s’. We are a ‘generation why’, and literally the reason why we do what we do. We’re passionate about our craft, we act on our purpose, and we want to contribute invaluable assets to the organization,” said Tan. “The currency of millennials is experience. We are the generation that cross from the traditional to the digital era. More than possessions, millennials want enriching experiences.”
Communication, competence, and commitment were also considered as imperative factors in solving problems during these uncertain times. These factors are embedded well within MFT Group’s core values that guide the company in gauging its why’s and inspiring positive actions.
Every decision that the company agrees on is based on its commitment to contribute to the society and become part of the solution, Tan shared.
A good case in point: For its F&B business, its operational excellence is anchored in the promise to provide the highest standard experience. Together with Salad Stop, it aims to provide value to its stakeholders by adopting agendas in the 2030 Sustainable Development Goals by being a thought leader on sustainability through mindful sourcing. Salad Stop also announced that it will be calculating its footprint starting next year.
Fueled by its purpose to introduce innovative products within reach and contribute in mending the gaps in the country’s health care system, Mondial Medical Technologies, the health care arm of the MFT Group, has also positioned itself to be the champion of the future.
During the pandemic, Tan said Mondial has recalibrated its management strategies by bolstering its customer care division to inform clients about hospital supply chain, impact analysis, demand forecasting, strategic sourcing, and group buying. It has also provided immediate value to its employees by providing an opportunity to earn additional income by selling medical products, while they still earn their salaries.
Mondial is also in the forefront of helping the government in the fight against COVID-19. During the onset of the outbreak, it has donated quarantine facilities to boost the capacity of referral centers to accommodate and treat patients. It is also involved in Project ARK to ramp up COVID-19 testing in the country.
During the discussion, Tan was joined by other industry leaders, including Kat Luna-Abelardo, CEO of PLDT Global Corporation; Li Hao, CEO of FWD Insurance Philippines; Joseph Jerome Francia, head of International Operations of GMA Network; and Victor Paterno, CEO of 7 11 Philippines.