Does one feel secure to engage with organizations that are in financial trouble? Does it feel safe to get high with brands who haven’t paid their crew in 45 days? Those were the question swirling in my mind as I boarded Jet Airways flight 9W3514 from Lucknow to Bengaluru on October 23.
As I fastened my seat belt for this ride, I was reminded of the fateful day - January 10, 2009. I was working for Satyam Computers and our CEO made a written confession of overstating earnings and profits and fudging books that became the headline on every newspaper and magazine and breaking news ticker on every digital media for months to come. The confession and following negative news and speculation not only tumbled the stock price, customer sentiments, but also infected 60,000 strong employees with paranoia of losing their jobs, not being paid and defaulting on their EMIs. In some cases, the fear doubled where both spouses or siblings worked together.
Though the situation for this airline with wasn’t any close to what we had gone through, nevertheless, their stock price was at a historical low, some vendors had withdrawn services over non-payment of dues and employees hadn’t been paid in over 45 days. Wow! Isn’t that enough to ruin investor confidence and dent employee morale?
As the cabin crew push the food trolleys down the aisle there were no signs of low morale, worries of over-due EMIs, or paranoia from finding another job. These folks were focused on serving their customers with warmth and showcasing their best hospitality despite going through financial turbulence.
In austere times the plasticware replaced silverware and a chocolate bar replaced desert, but still the dal-chawal was yum and cabin service was comforting including the announcements from the cockpit. My first bite brought back memories from a decade ago, when fear and distrust spreading like wildfire among employees and clients, thanks to 24/7 news channels and media. I was entrusted with the responsibility of identifying and collecting positive news about wins, project milestones and other achievements to reinstate customer confidence and rejuvenate employee morale. Till date this has been my toughest assignment – reinstating confidence and infusing positive vibes.
As I stepped off the aircraft, I recalled how none of the airline employees let their emotions come in their way of executing their responsibilities and provided superior customer service. They fiercely defended their brand pride and lived their values at a time when investors downgraded them, vendors denied them line of credit and some customers defected.
My experience from working for listed companies says employees are always at the receiving end. Their raises are given away to the shareholders as dividends. Nevertheless, in this case the employees stood by their brand. In a flight or fight world, we rarely see exhibition of such brand faith and loyalty. This clearly says something about the culture and values of the brand.
Jet Airways is a great case study for those studying brands, brand loyalty and employee engagement. Their financial trouble offers a great lesson in brand power and pride for CXOs. When investors lose faith, customers find alternatives, it is employees who keep the brand flying high. I hope Jet Airways will recognize this and reward their employees who stood beside them in tough times.
As I fastened my seat belt for this ride, I was reminded of the fateful day - January 10, 2009. I was working for Satyam Computers and our CEO made a written confession of overstating earnings and profits and fudging books that became the headline on every newspaper and magazine and breaking news ticker on every digital media for months to come. The confession and following negative news and speculation not only tumbled the stock price, customer sentiments, but also infected 60,000 strong employees with paranoia of losing their jobs, not being paid and defaulting on their EMIs. In some cases, the fear doubled where both spouses or siblings worked together.
Though the situation for this airline with wasn’t any close to what we had gone through, nevertheless, their stock price was at a historical low, some vendors had withdrawn services over non-payment of dues and employees hadn’t been paid in over 45 days. Wow! Isn’t that enough to ruin investor confidence and dent employee morale?
As the cabin crew push the food trolleys down the aisle there were no signs of low morale, worries of over-due EMIs, or paranoia from finding another job. These folks were focused on serving their customers with warmth and showcasing their best hospitality despite going through financial turbulence.
In austere times the plasticware replaced silverware and a chocolate bar replaced desert, but still the dal-chawal was yum and cabin service was comforting including the announcements from the cockpit. My first bite brought back memories from a decade ago, when fear and distrust spreading like wildfire among employees and clients, thanks to 24/7 news channels and media. I was entrusted with the responsibility of identifying and collecting positive news about wins, project milestones and other achievements to reinstate customer confidence and rejuvenate employee morale. Till date this has been my toughest assignment – reinstating confidence and infusing positive vibes.
As I stepped off the aircraft, I recalled how none of the airline employees let their emotions come in their way of executing their responsibilities and provided superior customer service. They fiercely defended their brand pride and lived their values at a time when investors downgraded them, vendors denied them line of credit and some customers defected.
My experience from working for listed companies says employees are always at the receiving end. Their raises are given away to the shareholders as dividends. Nevertheless, in this case the employees stood by their brand. In a flight or fight world, we rarely see exhibition of such brand faith and loyalty. This clearly says something about the culture and values of the brand.
Jet Airways is a great case study for those studying brands, brand loyalty and employee engagement. Their financial trouble offers a great lesson in brand power and pride for CXOs. When investors lose faith, customers find alternatives, it is employees who keep the brand flying high. I hope Jet Airways will recognize this and reward their employees who stood beside them in tough times.
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