No one envisaged that the coronavirus pandemic would take the world by storm. Many businesses have been hit badly by the plague. While some are still trying to adapt to the new lifestyle restrictions, some have already adjusted their operations and embraced remote working.
Unfortunately, some workers have become redundant and had to be laid off in the process. There are key learnings that businesses can learn from the present crisis. These include:
1. Developing an emergency work plan
It is surprising that some businesses never had any crisis management plan so they have been caught unawares by the coronapandemic. Some of them have been unable to survive the situation and have been wiped off the business radar. One thing the coronavirus pandemic has taught is to have emergency work plan. Businesses should not wait for crisis to have laid down solutions. When the crisis is over, businesses would have to evaluate their workforce to identify key positions that matter, and cut out the excesses and wastages. Hence, some people are likely to be out of jobs permanently.
2. Having appropriate employee benefits
The disease outbreak has enforced the importance of sick leave and other health benefits. More companies are adjusting their policies because of COVID-19. There is need to review their sick pay and leave policies noting if they are adequate, can be improved and the resources for the improvement if need be.
3. Handling the crisis
Every business approach and strategy for crisis management is different as they have different capacities and resources. During COVID-19, many businesses took the initiative to help their employees and communities. Some businesses offered free food, medical assistance and other services. Others had to pivot to produce medical equipment. Yet some others helped out by making financial donations to organisations in need during the crisis. Businesses need to evaluate their performance during the crisis. They should analyse how well they helped their employees and communities. This will not only good for the business’s brand but also builds it reputation.