financial concern en

How can we shed light on uncertainty and future economic stress?

The number 1 fear according to respondents, and the main aspect in which the public expects companies to do more.

This is currently the deepest pain point for Israelis, according to research. The financial implications of war are here to stay: businesses shutting down, unemployment, rising taxes to finance combat and rehabilitation, rising prices because of Red Sea shipping disturbances, a drop in exports and high-tech revenues because of rising antisemitism – so many reasons turn the growing fear of compromised personal income and quality of life, to almost real.

The expectation of brands is clear: don’t be greedy. Don’t bump up the price, don’t fire unless you absolutely have to, be thoughtful and empathetic, and take into account that this will last a while. But there are other things brands can do, additionally.

The big challenge: distrust

A distrust in corporations

stems from believing the world is in deep, extreme Capitalism, and the bottom line is the only line. In this context, acts taken by corporations during the war are perceived as temporary help and do not represent the business sector.

A distrust in government

and its ability to place the little person at the top of the list. This is beyond a crisis. It’s a deep tear in what’s supposed to be a basic relationship.

It is built by DOING.

Business sector leaders should spearhead the change they wish to see in Israel.

Steps towards a fare and different economy

Commit to avoid firing or hurting employees (even if the price is revenue)

Create a company pact to instill confidence in employees, or email a honest and meaningful CEO letter.

Examples

Fare pricing and considerate payments

→ Commit to a fixed or lower price for a year.
→ Pay suppliers on time and avoid net EOM, if you can.

Support small Israeli businesses

→ Sponsor small brands in related fields.
→ Host a physical or digital small business sale in your office.

Continuous support of reservists and distressed communities

→ Donate some of your profits.
→ Give earlier bonuses to your reservist employees and pay reservist suppliers earlier.

New pact or ethical code of economic conduct in 2024

Post-catastrophe Israel has brands in a powerful position: they can rewrite success in 2024. Companies shouldn’t lose profit, but if we strive to have employees’ backs and keep Israeli society from greed and cynicism, even on account of high revenues – we can give birth to a different society.
The business-social pact will be signed by industry leaders and will redefine success for 2024 by requiring companies to take action for employees and society. This includes:
→ commitment to professional, empathetic and compassionate service
→ commitment to aid reservists
→ commitment to prioritize local produce
→ commitment to avoid work termination and hurting employees as much as possible
→ commitment to fare pricing

How can we take action?

The role and responsibility of brands the day after in key pain points

How can we empower a depressed and trauma-stricken country?

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How can we rehabilitate distressed communities?

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How can we handle the growing social tear?

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