by Mark P. McDonald | April 8, 2020 | Comments Off on A to-do list for every company as it recovers from the health crisis.
Everyone wants to know when public health restrictions will lift, and we can begin to resume economic activities. No one knows for certain, but we all have the same basic list of things to do to move toward recovery. The Wall Street Journal had a good article today about the public health aspects of the recovery.
Here are some of the to-do’s:
- Complete an assessment of current facilities, equipment, suppliers and other operational requirements for ramping up business activity. Make and execute a plan to get things back to where they need to be for reopening.
- Know your cash position, financing availability and other forms of support. What federal programs apply, how do I demonstrate compliance, etc. Confirm of line up new financing as needed.
- Assess inventory and services backlog, what do you have to sell now, what do you have to do now. How will you replenish inventory and input materials?
- Communicate with an engage furloughed employees, schedule them to return to work, define who will come back when and what are the health measures and criteria for protecting workers.
- Evaluate your customer commitments, will you need to redirect resources or priorities. This is particularly the case for suppliers who reoriented themselves toward customer needs during the lockdown. For example, food service and food producer companies that curtailed restaurant production in favor of grocery production will need an approach to restart restaurant supply operations.
- Marketing messages and customer outreach. Now that you know how you will recover; you need to let customers know that you are ready to support to their recovery. This will involve generic messages about availability and new product/service messaging about your value in the current context.
- Implement new capabilities required to protect customers and workers. Reconfigure entrances to accommodate health monitoring, demonstrate that you are safe for doing business.
I am sure that there are other items, but your recovery plan needs the same attention to detail than your disaster management plan.
The speed and intensity of each ‘to do’ will depend on the specific company, region and industry. For example, hotels may open relatively quickly with occupancy rates remaining low until other firms complete their list. The point is that now is the time to plan, test and evaluate your readiness to reopen. Remember the show is only as good as the rehearsal and teams play the game in much the same way as they practice.
Here is to the success of all of our recovery plans.
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