Q. In our business we have been focussing on the immediate action we need to take such as furloughing employees or making redundancies, but I know we will get through this and I think we should be focussing on the future when we pull through this, how can we prepare?
When dealing with your business it is always true to address business today and also in the future, usually you will have a 3- and 5-year plan. As of today, you should also be having a 3 – 6 – 9-month plan.
As the government is orchestrating an exit strategy to the COVID-19 pandemic, it is true to say that your business too should have an exit strategy. There are a few things to get you ready in order to develop this:
The return to normal business will be a transition. How is your business going to deal with this? We believe it will be a phased return to get businesses back to where they were and even more so if you are an international business with many countries dealing with the pandemic at different stages.
Therefore, having a plan for your workforce of how your business will exit this is key. You may want to consider:
The world we will be in when this is all over will look different from it was and is today, so take stock of your business now, start planning, adapt to overcome, survive and be successful. One thing is for sure we are all in this together.