Prepare Your Company to Succeed Post COVID-19
Carlos Castelan’s company blog provides five questions to help you think about and prepare for the future post COVID-19.
To say that 2020 has been a challenging year for everyone is an understatement. The last six months have brought an enormity of difficulties and change to both the world of retail and the global population. While we don’t have the fabled Sports Almanac to identify future results, we wanted to share five questions that we have used with our clients to help plan for the second half of the year:
1: How are you supporting your current employees and remaining agile to meet new opportunities?
COVID-19 has disrupted our lives and added challenges from homeschooling young children to caring for family members. This is no ordinary time and it is also an extraordinary opportunity for leaders to demonstrate empathy for what is happening in their team’s lives.
It’s imperative to demonstrate to all employees that people come first and that their whole lives are welcome at work regardless of whether the impacts are visible. This can take the form of extending certain benefits to help manage through those challenges such as flexible work schedules, childcare reimbursements, and family care leave. It means providing adequate sick leave and income stability to those battling the virus to ensure their recovery and the safety of their colleagues. Target, for example, temporarily raised wages, provided free backup childcare for loved ones, and up to 30 days of paid leave for team members 65 or older, pregnant, or with underlying medical conditions.
This is also a critical moment to be agile to meet new opportunities. Essential businesses are having to flex up to meet a surge in demand. How can they quickly and safely identify and onboard talent? As retailers accelerate digital transformation initiatives like online ordering and curbside fulfillment, how can they shift resources to accelerate and deliver on those initiatives? Nowhere was this more critical than Walmart, the nation’s largest grocer, which has aggressively leaned into curbside pickup. To rapidly hire over 150,000 team members, they launched an expedited recruitment process and partnered with companies across restaurants, hospitality, and retail that had furloughed workers, in some cases going from application to offer within 24 hours.
The remaining four questions explore:
- Customer retention and relationships
- Impact on your industry and and competitors
- Impact on suppliers and supply chain
- Lower revenue
Read the full article, Back to the future: five questions to help you jump ahead in 2020, on the Navio Group website.