Build Your Post-Pandemic Action Plan

The business world around the globe is facing a variety of challenges in the current global situation. Whether it is a shrinking or lack of demand from the customers, loss of investments and investors, supply chain retractions, change in regulations and processes, loss of the workforce, and the resulting cut backs. Not to mention the constant worry of catching a potentially lethal virus that’s plaguing the planet and a sweeping uncertainty. In such dire situations, the only way to recover is to plan to recover.

In the words of Benjamin Franklin, “By failing to prepare, you are preparing to fail”.

While that might sound harsh, it does hold some amount of truth. Without a plan you are effectively not prepared to deal with whatever it is that might greet you on the other side of the pandemic. Especially when we are talking about a global crisis that has almost crippling effects on many companies as well as industries. We are now dealing with the times as they come, many a time, moving from one unknown to another. But with so many unknowns, also comes so many possibilities. And it might be wise to prepare for the whatevers and the whenevers. Rather than react with limited information when the situation arrives.

Reassess your situation

This is the first and most important part of your post-pandemic action plan. Without this in place, all your plans to bounce back will not work as well as you would hope. If you were not being honest before, now is the time to do it. Reassess the position and value of your company. Compare it to the competition and find your position in the industry ecosystem. Examine your resilience in the market, before, during, and after the pandemic. If your industry is one that has absolutely no business right now, think of the peripheral alternatives you can employ to help you prepare your company for the future. Preparation will help you identify what you are capable of achieving during and after adversity. It will also allow you to create clear objectives and options for your company.

Consider different scenarios

With a new assessment for your company in place, you can now work on the different scenarios and your plans for each one. Considering no one can predict what is in store for us in the near or far future, the only way to prepare is to consider as many scenarios as possible. Illustrate hypothetical situations and come up with suitable action plans for every one. Make sure to consider every possible path and outcome and formulate your plans every step of the way. This will allow you to think of creative ways to address a difficult situation and the ability to have options in times that might call for immediate action and no time to assess the situation. This will also help you decide whether you will be the same company after the pandemic, or you will have a new identity.

Reinforce company culture

With a strong and uplifting culture in place, a crisis is the time to reinforce that culture. Senior management should make it a point to address employees more often and more effectively. You need to reassure the employees that their leader will lead them through these hard times and they can feel safe and focus on their work. Make sure the employees can rely on the culture of the company for stability. If your company does not have a strong culture, then this is a great opportunity to instill one. Draft a culture that will help boost the company from the inside out. The human side of your company’s post-pandemic action plan is a very important one.

Communicate

Communication was a primary step in a non-pandemic world too, so now, even more so than before, take the time and effort to communicate with your employees. At times when emotions are high and uncertainty is possibly the only constant, it is the most important move by senior management to communicate carefully with all employees, no matter what level or team they might be in. Without intensive communication, rumors find their way in conversations, and so does panic. It’s better to be transparent than to be unavailable. Your relationship with the employees during a crisis such as this will cement their loyalty and their passion to be part of the company. And that is your road to success after the pandemic is over.

The L word

During any crisis, no matter how small, the primary concern for most employees is layoffs. The pandemic has caused some of the highest unemployment numbers in a very short period of time this year and many have had their livelihoods rudely taken away from them. While layoffs might be unavoidable, think of how to do in a dignified and caring manner. This is part of the culture of the company. How the company treats the employees who are being laid off will influence the employees who are not. This will, again, breed uncertainty, fear, confusion, and waning loyalty if it is not carried out with care and genuine concern. Before deciding that layoffs are unavoidable, consider your options. Could you offer a share of the company for a percentage cut from everyone’s salary? Or, could you offer temporary salary cuts with a plan to bring the company back on its feet? Consider all your options before letting your staff go. This will work in your company’s favor in your post-pandemic action plan.

Don’t forget the consumer

Just as you are considering all your options for your employees, do the same for your consumers. They are struggling just as much during a global crisis as you are. And their loyalty, perception, and opinion of your company will be cemented through their experience with your company during these times. It is important to consider the consumer point of view as well while formulating plans for your post-pandemic recovery.

Preparing for your recovery after the pandemic is essential. This will not only help you get back on your feet, but it will also help global recovery. The world needs to be able to heal for us to be able to climb out of the recession and move forward. And, we can hope that we are more prepared and more resilient for the next crisis.

Summary

Q. Why is reassessing your situation the first and most important part of your post-pandemic action plan?
A. Without first reassessing the situation and figuring out the starting point, any plans to recover might not go according to plan. It’s essential to reassess the value of the company and examine the company’s resilience in the market to create a suitable post-pandemic action plan.

Q. What is the role of company culture during a crisis?
A. A strong and constructive culture can ensure the loyalty and productivity of the employees. A lack of proper culture can do the opposite and may ultimately result in panic.