How can businesses create a better safety net for future crises?

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.

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With this slide, introduce the possible macro effects of the crisis on your business. Based on the economic crisis of 2008, these may include fewer business opportunities, need for layoffs or even closure and commercial lending decrease. To better plan your human resources in a time of crisis, pay special attention to the departments with paused hiring and pay reduction. Use this slide to introduce them to your audience and go over some measures to support these departments. Use this slide to introduce and its implementation. To come up with one: define scope, issues and time horizon, list all key drivers, gather and analyze data and develop different scenarios for crisis management.

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Crisis Management

In face of uncertainty and disruption, use our COVID-19 Crisis Management deck to undertake the current challenges of your business, develop recovery...

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