Businesses can create a better safety net for future crises by developing a comprehensive crisis management plan. This plan should define the scope, issues, and time horizon, list all key drivers, gather and analyze data, and develop different scenarios for crisis management. It's also important to pay special attention to the departments with paused hiring and pay reduction, and introduce measures to support these departments. Furthermore, businesses should be prepared for possible macro effects of the crisis, such as fewer business opportunities, need for layoffs or even closure, and commercial lending decrease.
In face of uncertainty and disruption, use our COVID-19 Crisis Management deck to undertake the curr...
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