I am the VP of Software Development at MediXall Group, a healthcare technology startup in South Florida. Recently, we pivoted our business model and have been diligently working on a new new product for the past few months.
Just like most companies, COVID-19 has required us to make some changes in order to insure the best possible future for our product. Now, this might sound like the cliche business response, but in no way is our Company in any financial trouble. Our leadership team decided to be proactive and plan for more troubled times if there were any.
Our President, Michael Swartz, was the first one to step up and take a pay cut to make sure no one else had to. A few weeks later he requested that the leadership team join in on the pay cut as well. Without hesitation, everyone agreed to take a pay cut. Again, our main focus was to prevent the rest of the team from having to take a pay cut.
Unfortunately, this was not preventable in order to insure the future of our new product. We had several meetings to explore the options available to us. We met with the whole team and explained the plan. We asked team members to take a small pay cut. In all honesty, we were expecting an all out revolt, but to our surprise, everyone was more than willing to take a pay cut. What was even more amazing to see was that they weren't just willing to do it just to keep a job, but rather because the entire team is fully committed and invested in the growth and success of the new product. The passion behind everyone’s desire to release the best possible product was palpable. To this day, productivity has not gone down but has significantly improved.
Even with the pay cut implemented, the team remained dedicated to continue the hiring process of in-house designers to further optimize our new product.
As a Company, we have had to make several adjustments such as transitioning to remote work. It's truly incredible to see how everyone has adjusted to these changes and believe in the future of this product now more than ever.
I would love to know how your team is handling the various challenges and hurdles that come from this unprecedented time.
Top comments (0)