Skip to main content

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 had those plans tested. And those who don’t had to scramble in order to adjust. Some businesses had to resort to skeletal forces or working from home while many were forced to shut down completely.

Image source: abcnews.go.com
HR policies need to be revisited

As a result of massive shutdowns, some companies couldn’t help but let go of a lot of people. After this pandemic is over, corporations and even small businesses should review their HR policies in regard to procedures during pandemic-like situations. Management should create mandates pertaining to skeletal forces, extended leaves, and emergency disbursement of funds for employees in need.

Employee healthcare should be prioritized

A lot of employees are learning the hard way what happens when their health insurance stops kicking in, the moment they stop working. According to Michael Saltzstein, employers should look for ways to keep their employees insured, regardless if they are able to work or not due to emergencies such as this.

Michael Saltzstein specializes in risk management and corporate insurance. He served as the Chairman for Risk Management Task Force, Local General Chairman, Local Officials Chairman, and Local Safety Chairman Of USA Swimming. For similar reads, visit this blog.
Labels:

Comments

Post a Comment

Popular posts from this blog

Michael Saltzstein Highlights Why Employees Create Silent Workarounds When Processes Don’t Work

    Michael Saltzstein Reveals How Silent Workarounds Reveal Deeper Process Failures In many workplaces, broken systems stick around not because no one notices, but because no one feels comfortable speaking up. Instead of raising concerns or challenging inefficient processes, employees often create quiet workarounds just to keep things moving. As Michael Saltzstein points out, these behind-the-scenes fixes aren’t signs of creativity or resilience. They are red flags that something important is missing, which is psychological safety.     A workaround may be as simple as using an unofficial spreadsheet instead of a clunky CRM or copying a coworker’s workflow to avoid dealing with red tape. While these silent fixes keep daily operations from stalling, they also mask inefficiencies and prevent systemic improvement.     Why Employees Stay Silent   The silence surrounding broken processes often stems from fear of being seen as negative, resistant, or difficul...
Post a Comment
Read more

Strategies for Successful Implementation of Changes in Organizations

  Mastering Organizational Evolution: Unveiling Proven Strategies with Michael Saltzstein Implementing change within an organization can be a complex and challenging process. However, leaders can successfully execute change initiatives by following best practices and employing effective strategies . Here are some practical guidance and techniques for implementing change within an organization:             1.Clear Vision and Objectives: Begin by clearly defining the vision for change and the objectives that need to be achieved. This provides a roadmap for the change initiative and helps to align everyone within the organization toward a common goal.             2.Effective Communication: Communication is vital when implementing change. Leaders should communicate the need for change, the vision, and the benefits it will bring to the organization. Communication should be frequent, transparent, and two-way, allo...
Post a Comment
Read more

Michael Saltzstein explains why crisis management is essential

Like other management professionals, Michael Saltzstein has seen how the COVID-19 pandemic has thrown global businesses into complete meltdown, causing significant economic upheavals. This, compared to anything else, is the best example of how crisis management is one of the essential aspects to have in any company’s contingency plans.   Crisis management coverage Crisis management extends not just to IT troubles or internal problems. The concept of crisis management includes external factors such as cyber-attacks, pandemics, and PR problems. In the same way that not having a backup of data can cause untold financial damage to a company, not having a contingency plan in case of a crisis can cause a business to shutter entirely. For Michael Saltzstein, any sudden or unexpected event that causes widespread unrest throughout an enterprise can be classified as a crisis. From here, management professionals must take action and find a way to bring solutions. This is best done by ...
Post a Comment
Read more