As a 22 year old independent financial services company, adapting to the Covid-19 pandemic is an unprecedented challenge. We would typically rely on historical events to inform a response to major economic changes as it is inevitable that at some stage in history, businesses and people have gone through some extreme economic circumstances. There are generally always case studies and information available that can be used to understand success stories and those efforts that failed when faced with these challenges.
However, there is no history or experience that can be tapped into when considering how to handle this pandemic from a business or even a human perspective. The only thing we, as Merchant West, could do in these circumstances was to rely on our quality leadership team and staff to navigate us through these tough times. We had to back ourselves, our risk processes and our years of experience to effectively work with customers and staff in finding the best solutions and balancing them across the board.
We are not through the worst of this storm yet and the only way we will weather it is through the people that choose to call Merchant West their home – our staff. Whilst many businesses around us are cutting salaries, not paying bonuses and downscaling on staff, Merchant West have decided to invest in our people and as a result we are still paying bonuses and allocating salary increases.
We are looking forward to a challenging yet successful year ahead!