Deloitte Southeast Asia managing partner on how leaders can support their employees during these tough times

David Chew joins the panel of judges at SBR Management Excellence Awards 2020.

David Chew is the regional managing partner for risk advisory at Deloitte Southeast Asia which provides cyber, governance, regulatory compliance, sustainability, technology assurance, and internal audit services to clients across multiple industries.

David started his career in law enforcement before entering professional services providing litigation support, corporate restructuring and financial due diligence. He has worked with clients across Asia Pacific and his current areas of practice are in governance, risk management, internal controls and compliance matters.

As one of the esteemed judges in the SBR Management Excellence Awards 2020, Singapore Business Review chatted with David as he shared his insights on how company managements can support their employees and stakeholders during these tough times.

Which particular markets or sectors are your main focus? Can you share with us your work experience or any backstory that has contributed to your professional career?

In my current role as Risk Advisory Regional Managing Partner at Deloitte Southeast Asia, we are focused on supporting clients navigate cyber, liquidity, treasury, regulatory, sustainability and technology risk issues. Cyber has been a boardroom agenda for the last few years. With the exponential increase in cyber threats emerging from the virtual workplace, we have been co-developing solutions with clients that enable employees to work from home and collaborate in a safe and secured environment as well as execute transactions with confidence. As clients increasingly look to guide their businesses towards a more sustainable future, we are seeing more demand to support business transformation under the “new normal” regulatory and operating environment. Moving forward, we will remain focused in helping clients build trust, resilience, and security in their business that is sustainable and to thrive in an unpredictable world.

How are leaders responding to the pandemic affecting their operations? For those whose companies and industries that have been badly hit, what do owners need to consider on the road to recovery?

The COVID-19 pandemic has brought about accelerated adoption, in terms of both technology and new ways of working for businesses. It is heartening to see many clients adjusting to the new geo-political dynamics in making decisions relating to supply chain resilience and business continuity. They are also more disciplined in spending and making investments, moving away from being CapEx (capital expenditure)-oriented to being OpEx (operating expenditure) -oriented.

We have worked with clients who have been able to make quick, decisive and sometimes painful decisions to repurpose their workforce who are made redundant, implement interim solutions to support remote working, improving technology resiliency as well as securing internal network perimeters and online transactions. The ability to be agile and decisive will be key to survive, recover and thrive from this pandemic.

How can the management support their employees and stakeholders during these tough times?

During tough times, it’s important for businesses to stay true to their purpose, values, principles and organisational culture as leaders strive to continue delivering the best possible outcomes for their employees and stakeholders.

Having transparency, empathy and trust help calm, support and energise employees so that they feel vested in a common mission and purpose, and embrace new ways of working. The uncharted water of this COVID-19 pandemic demand agility and innovation as well as quick adaptation to rapidly changing systems and regulations – businesses need to adopt an agile and continuous learning mindset to thrive and recover in this pandemic. It’s also important to keep a pulse on the shifting needs and priorities of all stakeholders and the evolving state of competitive and innovative practices.

Stepping up the experience of connection, engagement and empowerment for employees is crucial. Corporate culture and internal communications will have increased importance in binding employees into productive teams and also empower them with resources to boost their mental wellbeing. Business leaders also need to increase the focus in maintaining the trust with their employees and stakeholders.