The COVID-19 outbreak has prompted a variety of responses from businesses in architecture and real estate. However, will those responses lead to a difference in the success of the businesses, and will we see long-term change as a result of the changes that have taken place? 

 

 

In these rapidly changing times, the reaction of businesses across the country has provided an interesting insight to their governance processes and culture. Some high street names, such as Pret a Manger were quick to receive praise for their response to the Coronavirus. They established a discount scheme for NHS workers and then worked to re-open stores to support the same NHS staff shortly after lockdown. 

 

In contrast, as the City AM article notes, there were firms who made themselves less popular. For example, Sports Direct’s claims that leisure wear was essential, and Wetherspoons, who dismissed staff telling them there were jobs available in Tesco. 

 

Perhaps most interesting in the above examples is their ‘buzzscore’ – a ranking from opinion pollsters, ‘YouGov’. Public approval either shot up or collapsed as businesses were perceived to do (or not do), ‘the right thing’.

 

Is there likely to be a similar sentiment in real estate? It seems entirely possible. The people who approve of Pret and other brands doing the right thing are the same people who work in our professions.  

 

There have been some outstanding stories to come out of the current scenario. From engineers and architects cycling 1500 km around Regents Park, to studios re-purposing 3D printers to make PPE. There have been some truly positive and heartening innovations from our sector. Is it coincidence that some of the best-known names in our world have been among those doing the most to support those in need and bring the industry to recovery?

 

 

Corporate Social Responsibility (CSR), whatever form it takes, should not be about ticking boxes. It should be about making a truly positive change and impact on the world around us. As a result of our own CSR efforts, Ashfold have been lucky to get involved with fantastic projects such as the Battersea Arts Centre restoration. The Grade II listed, former town hall is regarded as an important hub for UK performing arts. Following a devastating fire, we have been working on the restoration of the building, in a voluntary capacity since 2014. 

 

And of course, the benefits are not only for the recipients of support. The opportunities to bring different people together, collaborating on CSR projects lead to a host of other business opportunities. As with most things in life, you get out as much as you put in. Working and meeting with like-minded colleagues means new relationships are forged. Future business opportunities that might not have existed become a reality. 

 

Put simply, doing good is good for business.

 

 

At this point, of course, it’s almost impossible to determine who the winners and losers will be from this game-changing period in history. However, it seems fair to say that the players doing good work will have been, and continue to be noticed. If nothing else, it’s likely that history will look favourably upon them. Whether it will lead to long-term change or recognition remains to be seen.