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Business Management Tips

COVID-19 Business Planning Checklist

Managing your business during the pandemic is both tough and crucial. Develop your emergency plan today with these tips!

covid-19-business-planning-checklist

Looking out for your business during the pandemic is burdensome work. If you own an office, a restaurant, or even a small kiosk, running it comes with more obstacles than usual. With the confusing back and forth of quarantine restrictions, getting customizable property insurance in the Philippines in advance is a good investment either way. It would secure your business property from unwarranted damages brought by fire, robbery, employee personal accidents, and the like. 

Besides that, you can safeguard your organization in all aspects by developing your own COVID-19 business planning checklist like this one:

Workplace Assessment

Determine and remove possible hazards at your location that might endanger workers who need to be there physically. Provide safety protocols or administrative measures, including cleaning essentials and Personal Protective Equipment (PPE) to maintain a safe and productive work environment.

Financing

Whether your business is facing a temporary shutdown or continuing its operations, evaluate your cash flows thoroughly to compute the chances of your business’ survival. Assess the need to speak with your bank or evaluate one or several insurance companies in the Philippines to make a plan for business interruptions in this time of need. 

Suppliers

COVID-19 has been impacting different facets of the workforce. Not only is this applicable solely to your business, but also to your suppliers. Weigh the feasibility of your current supply chain and find alternative suppliers if needed. From here, you can draw up negotiation or renegotiation plans ahead of time.

Customers

Keeping your customers’ trust in times of crisis is both tough and crucial. They want to understand its impacts on your operations and on their consumer experience. Reassure them by relaying regular updates on your social media pages with FAQs, or having a team of responsive community managers to entertain inquiries.

Employees

Your employees are at the heart of your business. To effectively resume operations, protect them with sanitation procedures and information. Listen to their needs and suggestions, and discuss how to compromise with a skeletal workforce. Organize and support work-from-home arrangements to ease their worries and motivate them for work. 

Succession Plan

A smooth succession plan saves a lot of time and other resources, when one or more people in your team gets ill or quarantined. Encourage transparency with symptoms, implement supportive leave policies, and establish a work readiness criteria. Create recovery plans to reduce the severity of COVID-19 on everyday deliverables.

Every business has a unique environment and culture, so design a checklist fit to your needs. Flexible emergency plans are critical in powering through inevitable changes and disasters. With Malayan Insurance, you can always be one step ahead in protecting your business and stakeholders.