Uncertainty. Something we are all facing as we grapple with the effects and implications of COVID-19. Yet, while this situation is new, our ability to thrive by employing a well-developed business continuity plan isn’t. As we take proactive measures to ensure the health of our teams and our operations, the keys to our collective success are understanding the challenges and proactively identifying possible solutions.
Possible business continuity challenges
When it comes to COVID-19, every business faces its own unique set of challenges, but a few themes might apply more broadly:
- Business continuity logistics of employees working remotely may create additional burdens
- Essential finance and technology functions may be more challenging to complete
- Data/reporting needs may be more critical and require additional analysis in the current economic scenario
- Supply and demand challenges may affect expenses, current workforce, and needed expertise
Any of these challenges are likely to affect business operations. But as with all things in life, it’s our preparation and response that determines our future.
Identifying possible solutions to ensure business continuity
Many organizations are taking action by allowing employees to work remotely or utilizing more serious options like taking a leave of absence or temporarily closing operations. But the reality is that business cannot be halted without further impact to all stakeholders (e.g., customers and suppliers – and most importantly, our employees and their livelihood).
This may not be the time to begin implementing a new artificial intelligence program to augment and support people functions. However, this is the time to quickly address any gaps and mitigate the risks to ensure the continuation of business. So, as you assess the readiness of your business continuity program, you may find you need help meeting your immediate needs. Should that be the case, Vaco is here to deliver the exact services you need, when and how you need them.
How talent and solutions companies can help with business continuity
If you need help solving critical issues as part of any business continuity effort, talent and solutions firms like Vaco may offer the helping hand you need by offering any of the following services:
- Providing temporary, contract, permanent placement, project support and advisory services for your staffing needs
- Offering hiring support, from project-based opportunities to full-time needs, for all functional areas (e.g., accounting and finance, IT, HR, risk and compliance, audit, supply chain, and operations)
- Increasing IT and help desk services to support the growing population of your remote workers
- Assessing, testing, and enhancing business continuity and recovery plans to prepare your company for the potential impacts of today’s risks; this includes evaluating suppliers, systems, processes, succession plans, and strategy
- Evaluating the implementation of “care programs” to financially support hourly employees during their potential leave of absence due to operational closures, illness, and/or need to care for others
- Providing consulting services to help reprioritize strategic initiatives as market conditions change
Onward we go … successfully together
While these are uncertain times, we are certain that– together, we can create proactive work environments that equip our teams with the information and support they need to remain safe and healthy. And through effective business continuity programs, we can do the same for business operations.