Capital Markets Corporate Instinctif Partners

May 28, 2020

Four COVID-19 mid-crisis checks to do now

Contact

Despite the benefits of a post-crisis review being well known, it isn’t often undertaken. Less well established, and arguably more immediately beneficial, are mid-crisis reviews. With the likely changes coming, and as you prepare for the recovery process, now is the ideal time to assess your current crisis management and communications strategies. Here are four things your business can do now to help you remain agile to the fluid situation and check progress towards your intended destination.

Undertake a rapid review of your response strategy

Take time to understand how well your response strategy is working and how to improve it. This will minimise the impact on your people and the disruption to your business and finances. Focus on the lessons learned and how you can improve your decision making, the effectiveness of your stakeholder engagement and communications, and evaluate your success criteria against current crisis management.

Check your operational response

Understanding the day-to-day impact on your business operations will help mitigate the risks from working at extreme capacity and with a reduced workforce. This will improve personnel management, customer/client satisfaction and reduce the financial losses to your business. Gather insight from those affected by your business decisions, look at how your culture and morale are adapting, and feed learning into an improved stakeholder communication plan.

Additional review of your Crisis Management Plan

Reviewing your Crisis Management Plan will improve your strategic response to this and future crises, minimise the impact on your people and your finances, and help protect your business reputation for when the recovery period begins. Use your current COVID-19 experience to identify gaps, make improvements such as streamlined ways of working you’ve implemented and consider whether roles and responsibilities are clear with reduced resource.

Scenario plan risks and opportunities for recovery

Planning for future COVID-19 risks will enable your business to be better prepared for the challenges ahead and minimise the financial impact. Focus on the top three risks COVID-19 could still present and how you can mitigate them. The post-pandemic world will be different so consider the potential opportunities and how you can realise the benefits. This will help you capitalise on the advantages of a changing environment, maximising the potential of the recovery phase.

Instinctif Partners is here to help:

We’re offering a FREE 30-minute consultation to guide you through a no-obligation top-level review of your response against international best practice. Then, if you are interested in finding out more, we can discuss our range of tailored COVID-19 services with you.

Our Business Resilience specialists have extensive experience of risk, issues and crisis management, and are supported by the deep sector knowledge of our practice teams to offer tailored advice in this complex ongoing crisis.

Search