With news about the global coronavirus pandemic continually evolving, business owners are understandably confused and worried. There are immense risks amidst the disruption we are all experiencing — but also new opportunities to serve your customers and position your company for post-pandemic success.
This is a crucial time for business leaders to navigate carefully. Throughout this five-part series, we will provide you with current information, practical suggestions and helpful resources to keep your business on a safe pathway through disruption — and position it for accelerated success when the coronavirus crisis has passed.
- Stretch cash flow
- Preserve your workforce
- Reinforce revenue
- Strengthen IT infrastructure
- Demonstrate strong leadership
Preserve your workforce
Your workforce is essential to the survival of your business. While employers strive to contain financial losses, COVID-19 threatens both the health and the employment of valued workers. Following are some suggestions for protecting these important resources.
Support remote work, where possible
Moving some employees out of the workplace and into a safer work-at-home environment where feasible can also reduce overhead and operating costs. Several practices are key to making this productive.
Remote work policy – Specify your expectations for remote work, including instructions for employees’ work schedules, overtime and ensuring secure data management practices.
Appropriate technology – Employees will need a computer, email, access to internal networks and teleconferencing capability.
Secure connection — Remote work requires a secure Wi-Fi network and a virtual private network (VPN) that encrypts data and protects it from interception.
Communication and collaboration – Workers need to stay in touch with managers and colleagues through communication and project collaboration tools. More about this in Part 3: Strengthen IT infrastructure.
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