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Over the past two months, COVID-19 virus has spread to all continents except
Antarctica, infecting people in many countries around the world. As the virus spreads,
the society, economy and business are being impacted.
How to minimize impact of the epidemic on business, its performance results and,
most importantly, on employees – these are the main issues of concern for every
company leader.
A recent Deloitte survey conducted among over 1,000 respondents from companies
operating in China shows that the epidemic will adversely affect sales volume and
cash flows as well as the ability to serve clients/consumers and manage business.
Significant risks also include ensuring the safety of employees returning from
vacations and business trips, difficulties related to supply of raw materials, lack of
tools for organizing remote work.
Company executives also point out that COVID-19 will have an impact on
performance efficiency of organizations: 46% of respondents expect a reduction in
performance targets in 2020.
So what measures can be considered most important and appropriate? Based on the
results of Deloitte's research conducted in similar situations in the past (particularly,
during the SARS epidemic), we recommend taking a number of measures.
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It is high time to analyze the critical roles and key positions, as well as to determine a
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of interim how toin case of force majeure. Top management is often away
delete oronblock
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trips and there is an increased risk that some employees may not be
available in the office due to a quarantine or illness. The companies should develop
an effective process of management decision making under various scenarios.
Determine how your company is going to ensure the safety of employees who have to
be at work and cannot work remotely (e.g., shop assistants, cashiers, drivers, etc.).
The companies are reviewing their policies for maintaining good hygiene in the
workplace, providing disinfectants, etc.
Analyze the priority of your company's projects: focus your teams’ efforts on the most
important and critical tasks. Allow more flexibility with low-priority tasks.
Workforce
Share the up-to-date and relevant information about COVID-19 symptoms and
disease prevention recommendations among company employees. Use only
credible sources of information, such as the World Health Organization. You
can establish a dedicated hotline or conduct a series of remote seminars with
relevant health professionals to facilitate question and answer sessions with
your employees.
Some foreign businesses have already reviewed their sick leave policies. In
particular, they provide for a temporary absence from work due to illness
without the need to provide doctor's notes for absences.
Develop and communicate clear rules and obligations for employees who are
at risk (those who traveled abroad for personal reasons or were on business
trips). These include the requirement for a 14-day self-isolation of such
employees and cancellation of all meetings with the clients and coworkers.
Workplace
Work through the most difficult scenarios (for example, if there is a need to
close offices or some production lines) and prepare appropriate
communications for your employees in advance. Your task is to provide a
constructive response, and not a chaotic communication with employees, or
no communication at all.
Despite all the risks and stress, it is important to remember that we have faced
crises situations like this in the past. First of all, it is a challenge for the
company's culture and management practices. If you believe that people are
the most valuable asset to your business, then you have to communicate, plan,
and be consistent. Show up for your employees and support them.
At the end of the day, we are all human, and every one of us may be impacted by
COVID-19. Now is the time for company leaders to lead for the safety and welfare of
their people.
Contacts
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Olena
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Director, Human Capital Advisory Services Manager, Human Capital Advisory Services
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blockis a them.
Director of Human Capital Advisory Services at Natalia is a Manager of Human Capital Advisory
Deloitte’s Consulting practice, Ukraine. Olena has more Services at Deloitte’s Consulting practice, Ukraine.
than sixteen years of experience in the sphere of Natalia has more than eight years of experience in
consulting and Human Capital service... More the sphere of consulting and Human Capital servic...
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