Site icon VA@VictorHRConsultant.com | 707 331 6740

Brand building strategies for handling the coronavirus recession

Many businesses are now scrambling to implement working-from-home procedures, cutting worker hours, and reducing their workforces, whether temporarily or permanently. Economists are now predicting a short but deep recession, with a drop in US economic output of $1.5 trillion, 7% unemployment, and 5 million Americans out-of-work.

How a company pivots during a crisis significantly impacts its customer engagement, profitability, and employer brand.

Take the example of Southwest after 9/11. Air traffic had dropped dramatically, and most airlines laid off significant numbers of employees.  Southwest was the exception.  Instead of downsizing, it refocused its slack workforce on making process improvements. When the market improved, Southwest did not have to rehire its former workforce or hire new employees –it had a ready, trained, appreciative workforce with the ability to help the company quickly expand into new markets. Its competitors, on the other hand, struggled with staffing, training and operations issues.

Let’s review alternatives to reductions in force.

If a reduction in force is necessary, remember these guidelines of The Worker Adjustment and Retraining notification (WARN) Act:

The coronavirus presents the US a national crisis that requires putting the public interest and safety first, including the safety of your clients, suppliers, and employees. As a business, how you react during this crisis will greatly determine the loyalty of your customers and employees.

Watch my social media posts, blogs, and podcasts for future updates.

Victor Assad is the CEO of Victor Assad Strategic Human Resources Consulting  and managing partner of InnovationOne. He works with companies to improve their recruiting, HR operations, and develop extraordinary leaders, teams, and cultures of innovation. His new book is Hack Recruiting: the Best of Empirical Research, Method and Process, and Digitization. Subscribe to his weekly blogs at www.VictorHRConsultant.com. 

 

Exit mobile version