The elements of a post-COVID-19 business recovery plan

Many businesses today have been forced to close down due to the COVID-19 pandemic. Others who still survive are not operating as robustly as they used to, and many of these are already beaten to within an inch of their lives. Business expert Michael Saltzstein shares a plan for companies who are still clinging on to some hope for a better future post-COVID-19.

Keep displaced workers at bay.

You might have had to let go of some people to downsize your company and make it manageable for your business to survive. Give your displaced workers preferential treatment if they are still looking for a job when you get over the pandemic. It helps a lot that you get back people who are already familiar with your line of business.

Explore work-from-home as a permanent operation.

Take this time as an opportunity to assess which aspects of the work can be done at home for the long haul. If there’s one thing that you can expect from this pandemic, it’s the fact that work-from-home will become a proven alternative for business to be done. People are now dependent on the internet to do business, and today’s foundation will likely maintain its course far into the future.

Consider selling.

You might want to consider a fresh start and reestablish a new business altogether once the pandemic is over. This is your prime motivation as you consider selling your company. Perhaps there is another buyer out there who can make use of your business assets, together with your existing workforce, to take on a new venture. Visionary leaderMichael Saltzstein has optimized award-winning risk programs, economic strategies, reserving, and best practices and state-of-the-art coverage for businesses in various industries. For more updates, follow him on Twitter.

Comments

What business leaders are learning from the Coronavirus outbreak

Image source: businessinsider.com The onset of the Coronavirus or COVID-19 has been a shock to businesses throughout the country. Because of state-wide lockdowns and preventive measures, almost every business has had to adjust in one form or another in order to ensure the continuation of operations and secure the safety of employees. Unfortunately, not every business can operate under these new conditions. Michael Saltzstein predicts that this outbreak will force most businesses to adjust to a new reality. And while this outbreak will eventually pass, it shouldn’t stop business leaders from learning something new from this unique experience. Here are some lessons business leaders are learning from the pandemic. Business continuity plans were tested It’s hard to imagine a multinational corporation ceasing operations. That is until now. Seemingly large operations that may seem too big to stop had to grind into a halt. Businesses that have emergency continuity plans have...

Effective Strategies for A Win-Win Negotiation

pexels.com Leaders like Michael Saltzstein are constantly engaged in some form of negotiation. They have to negotiate with customers, other businesses, or parties external to the organization. In many cases, they also have to participate in discussions with partners and team members. Negotiations have to be fair and well-balanced to ensure that both parties involved will benefit in the long run. This article explores some strategies that can help leaders encourage a win-win negotiation. Prepare and be knowledgeable . Before coming to the negotiating table, you must have reviewed all the information necessary for the discussion. Furthermore, it would be advantageous to have already identified the alternatives that are available for both your organization and the other side. This is only possible if proper research and analysis have been conducted. Set up multiple offers. A common mistake that has been committed time and again when it comes to negotiating is having only one offer on t...

Michael Saltzstein on Effective Recruitment Strategies

Michael Saltzstein: Recruitment for the Modern Workforce images.pexels.com Hiring the right people for an organization is not just about filling open positions; it's also about finding the right fit for the job and the company culture. A good recruitment process helps identify and attract candidates who meet the qualifications and align with the values of the company. Effective recruitment and selection involve a thorough evaluation of job applicants to identify those who have the necessary skills and experience to function effectively in their role and can contribute to the overall success of the company. Businesses can increase their chances of finding candidates who are an ideal match for the job and the organization's culture by implementing a comprehensive recruitment process. Michael Saltzstein helps us get the process right. Provide what the candidates look for. With the rise of remote and hybrid work, people want to decide on their work environment and have better...

Michael Saltzstein

Search This Blog