Inspired HR: Cash and Culture (COVID-19)
March 20, 2020
Leveraging the power of technology to maintain company culture
What a difference a week makes. As COVID-19 continues to ravage markets, create uncertainty in large and small businesses alike, the overlying questions we’re hearing from Calgary Chamber members is:
- How long can my business survive?
- How can I best support my employees and clients during this time?
- What decisions can I make right now as owner or executive to give my organization the best chance to weather this storm?
Debby Carreau, Founder and CEO of Inspired HR, defined two main buckets to focus resources toward in times like these – which summarizes so many of the conversations the Chamber team has been having with members these last few days – Cash and Culture.
Asking yourself what can be done to shore up these two vital aspects of your business now will go a long way to setting yourself up to make it though these tough times and position your organization for a strong comeback; and there will be a comeback.
Addressing your team requirements and how to best set your most important asset up to succeed in continuing to service your customers is key right now.
As the bulk of the office industry have been asked to work from home it is time to ask what systems do you have available to make that happen? If you’re not able to share documents, creative energy, and keep people accountable to other team members – this needs to be figured out immediately. Talk to your IT service provider to best understand what’s available to you right now and to best utilize existing infrastructure to ensure success.
Cash is the lifeblood of every company and understanding how cashflow is going to change in the weeks and months ahead is imperative to your company’s survival. What can you be doing now to reduce costs and right-size your organization to best manage changing workloads? Addressing fixed costs like rent, taxes, utilities and salaries needs to happen, so talk to your landlords, bankers and staff on what they can do to help you out in this area.
Together we will make it though this and by working together we can still be successful in these tough times. Communities are built on people – take care of your teams, your business, and yourself.