All signs indicate that the spread of the new coronavirus (COVID-19) will continue, and the situation will likely get worse before it gets better. With this in mind, being prepared is the key to mitigating impact.
This morning, CS&A International provided a remote workshop for AmCham Belgium member companies on how businesses can prepare for the possible outcomes of COVID-19. Following the workshop, we’ve put together the key takeaways on how to manage the COVID-19 crisis and its potential impact on businesses.
- A prudent over-reaction is advisable and organizations in Belgium can already anticipate what will be some of the issues they could face by following what is already happening elsewhere.
- Properly identifying and engaging your internal and external stakeholders regularly is extremely important.
- Pre-agreed responses should be made to answer some of the FAQs that could arise for your company in a worsening scenario. There needs to be a unified company approach.
- Employees who are working from home need to be engaged properly by their managers, ensuring that they stay motivated but also feel that their company cares about their well-being. HR will play an extremely important role and employees will remember how their company treated them after the crisis is over.
- There are still some grey areas, including to what extent “Force Majeure” claims will be accepted by governments and business partners.
If you have any questions about these takeaways or wish to talk to crisis management and business continuity experts about your particular business case, don’t hesitate to contact Koen Peeters (firstname.lastname@example.org) or Anthony Spota (email@example.com).