The world-wide spread of COVID-19 has forced businesses into uncharted territory and brought with it many new challenges. Weeks have passed while businesses remain closed or operating at a reduced capacity. While hope is on the horizon the damage is substantial. One thing is certain: there is much change to address.
As you steadily navigate your business through these muddy waters here are five questions for you to consider, along with how we are here to help:
1. How are you communicating with your employees?
As a business owner you must keep your partners and employees informed of operational changes as they occur. Your employees are looking to see what actions you will take to protect them and your customers.
Resource for you: Human Resources Toolkit: The Employers Guide to COVID-19. Inside this toolkit is an expansive overview of the many issues you are facing as an employer. It includes critical information on new federal laws, layoffs and furloughs, tax credits and much more. Call or Email me for this free resource.
2. How are you protecting your employees?
You have no doubt prioritized keeping your employees safe, whether they are on-site or at-home right now. But what about when your business goes back to near-normal again? As a business owner you are tasked with the responsibility of providing resources and necessary training to protect your employees and those they encounter in the workplace.
Resource for you: Guide to Creating a Return to Work Action Plan. It is a customizable sample business plan that is designed to keep employers, employees, and customers safe. Call or Email me for this free resource.
3. Do you currently have unoccupied properties?
Vacant or idle properties are at a much higher risk for fire, water, vandalism, and many other significant issues. You need to do everything possible to alleviate these extra risks in your unoccupied properties.
Resource for you: risk and coverage insights on vacant property. It is important that you notify local authorities, utilities, and your insurance company. Frequent and documented inspections are also a must. Call or Email me for this free resource.
4. Do you have an active business continuity plan?
A good business continuity plan is well thought out and in place to protect your business from the unknown. It can mean the difference in recovering successfully from business interruption and going out of business. Maybe you have one already and it just needs some updating? There are certainly some new risks to consider.
Resource for you: Business Continuity Plan-Creation Toolkit. This toolkit outlines the basic components of a business continuity plan, and the steps in developing and implementing the plan. Call or Email me for free this resource.
5. Do you have a clear understanding of what your current insurance policies cover and what they do not?
As you have likely discovered many business policies exclude events like, flood, earthquakes or pandemics.
Resource for you: WE are a resource for you! Give us a call! It is crucial that you know what to expect from your insurance policies. We will help you identify gaps that you will want outlined in your business continuity plan.
Sources: Peter McMurtrie, Zywave
