As the Coronavirus Pandemic unfolds, one primary concern for all organizations is people. How to care for its workforce during pandemic and nurture a healthy workforce post-pandemic has become a trending topic. We recently shared what we, as the organization’s leaders, do to care for our own remote working employees as they face the challenges brought on by this pandemic. COVID-19 is people related crisis and all risks relating to employees i.e. people risk is the one thing that keeps Senior Leaders up at night. After all, a company’s most important asset is its people. It is a tough time for companies and individuals, alike, due to uncertainty and threats to business operations, both, during and post pandemic.
People’s Health is the priority during pandemic period. Employees’ health is a risk to the sustainability of companies’ normal operations and efficiency. Creating flexible work schedules keeps productivity up by helping people be better rested and ready for their workday. HR departments and team managers working together to support open communication to get such schedule implemented will have a beneficial effect on, both, the company and its people.
Employee engagement is another source of people risk during pandemic and in post-pandemic periods. Remote working environments and social distancing measures make it a challenge to engage and motivate employees. Being creative, while apart, and remaining consistent as employees’ transition back to the office environment is vital. Empathetic communication and regular updates are crucial to engaging employees whether they are working from home or the office. Creating a culture where employees feel supported by management results in not only motivating them to work hard from home during pandemic but also once they have transitioned to the office post-pandemic. Allowing employees a period of time to ease back into the office environment by creating a hybrid of work from home and in-office schedule will provide the company with the resources they need to continue operating as well as reduce employees’ stress thereby making them more efficient and focused on work.
Fast spreading COVID-19 is a unique challenge for all companies and creates a significant people risk in ways we have not seen before. Organizations should take a people-centric and proactive approach to assessing and mitigating this risk which in turn will have a positive impact on their Total Cost of Risk (TCoR). Senior Leadership must guide their people so that they understand that whether you are a CEO or a CFO, you are aware that this transition from one “normal” to the next is not going to be an easy one for them. Leaders must provide staff with the flexibility that their business can support in order to keep their team motivated and ready to work hard for their organization.
If you need more information on any of the topics covered in this blog, or need help with any risk related issues please contact Albert Sica, Managing Principal, at 732.395.4251 or [email protected]
