Navigating the pandemic: phase 2 - adapt
We have identified three key phases we believe you, as a business leader, will have to navigate during and after this pandemic.
As a leader, you will recognise that your business is changing in the face of the pandemic – and that as you go through lockdown, your processes, structures and staffing may need to change too.
CHALLENGES
As you prepare to bring your furloughed staff back (or ‘reboard’ them), think about the structure of your teams and the size of each area of your business.
You will need to plan for when and how your teams return to work. Will it be full or part-time, on-site or working remotely? This will all have an impact on how you manage your processes, premises, technology and sales.
In this phase, you may be focused primarily on your business, but what about your personal cash flow? If your current business situation is impacting your income, it could have far-reaching implications for your own financial future.
SOLUTIONS
HOW CAN WE HELP YOUR BUSINESS THROUGH COVID-19?
Each challenge a business faces will be unique to its size and sector, so as advisors we tailor our solutions to suit your specific needs and circumstance.
We can help you plan for the next step and longer-term, opening you up to the possibilities of how you could transform your business and manage costs.
ADAPTING YOUR BUSINESS POST LOCKDOWN
We hosted a series of live panel discussions designed to help support you and your business through this current crisis to a life post lockdown. Topics included; team and operations, people and reward, and your personal finances.
We’re here for you and we’re working hard to keep you informed on everything you need to know on business funding, CJRS, outsourced services and more.
If you would like to like to get in touch about any issues impacting you at this time.
As a business leader, you may already be reviewing working capital and cash flow projections, running scenarios on profit and loss, balance sheets and cash flows with various degrees of interruption. It is important to review regularly to manage liquidity risk.
The Government’s Coronavirus Jobs Retention Scheme (CJRS) was introduced to help employers keep staff on their payroll, covering most of their salaries and reducing the risk of mass redundancies. Reboarding is the process of bringing your furloughed staff back to work, as the Covid-19 lockdown restrictions start to ease.
We understand that at this time, your business will be facing a number of unique challenges and that your time will be at a premium. You will most likely need to prioritise managing costs and adjusting operations to cope with a reduced workforce, while striving to survive and adapt.
We understand the importance of financial planning for you as an individual, and the impact that Covid-19 could have on your personal wealth – both now and longer-term.
n the first weeks of this pandemic, many businesses concentrated on cash management, making sure they took advantage of all available government funding.
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