Changes to be incorporated in your Business post the Lock-down in the “New Normal”
As the economy opens up, the number of Coronavirus cases are still on the rise. It seems we are gradually moving towards removal of lockdown for some sectors and parts of the economy. The government doesn’t have any other alternative other than focus on lives and livelihoods as lockdown cannot go forever. So how are companies really going to open up amidst so much of stress and restrictions.
Here is a list of few areas that need attention and implementation in the “New Normal”
- Every company, shop or a small trader will have to invest in Sanitizing the workplace, products, buying masks and gloves, regular testing and training of employees and getting associated to a medical professional (Doctor/ Hospital) for immediate guidance in case of any Red Flag! Show your association with the medical team appointed and conduct periodical webinars with them to continuously update employees on precautions to be followed.
- Reduction in work force attending office physically or working in shifts to maintain “Social Distancing” and avoiding a crowd at all times.
- Work from home will continue to be a preferred solution for 2020. So, unless employees are really required to be present physically, they will not be asked to come to office.
- Health History/ Family history of travel of every employee coming to office will have to be monitored
- Business Travels will be a thing of the past, Online Conferences Zoom, Skype, Teams etc will be extensively used. Changes in Business Hours to be incorporated as applicable on the specific industry. Add a Covid-19 update post for updates related to it.
- A Proper assessment of Fixed and Variable Costs of a business is required. Wherever possible, fixed cost needs to be cut immediately or re-negotiate to cope up with the revenue loss due to lock-down.
- A continuous monitoring of variable expenses at regular intervals to keep them in check. Cutting down all avoidable costs.
- Revision of Sales & Revenue goals and product timelines with a new operating plan.
- Sales Policy needs to be re-structured. Sales Online versus Sales in Person and the Return policy of products once delivered and tried needs a complete re-structuring.
- Marketing Strategy in the changed times need to address on the safety measures taken up every company to comfort the customer and give assurance that they are not a carrier of infection and taking all the safety measures.
- Customer Feedback needs to be taken regularly to understand their concerns, suggestions and their satisfaction on the solutions offered by the company.