Post COVID-19 – Time to Rethink Your HR Practices

The coronavirus pandemic has affected us in many ways that we never could have imagined. Personally, many of us are holed up in our homes, making less trips and spending less money in our temporary virtual reality. In our business life, we are hit hard with the reality that much of what we know will never be the same again.

Survival of the Fittest

We all need to tap into our survival instinct to survive and rethink our workforce strategies or we may face the end of our business vision. We have a few ideas to help you survive this economic meltdown.

Let’s first realize that this COVID-19 crisis has left many businesses in a desperate position where they have to drastically cut costs; labor on one hand, and on the other hand, find a way to rebuild with the right people and the right level of service, protection, and do it profitability.

Lessons from 2008

Although this is different than the 2008 recession, in many ways it is very similar. The rules we once knew have changed, there is nothing but uncertainty on the horizon, and the only way to survive is to make the right adjustments in staffing, service, price, and business model. The businesses that survived made the right moves at the right time.

There are two clear positives we can look to. First, the American Economy was strong before this and will survive as it always does. Secondly, it will be a buyer’s market for labor as well pull out of this. If you make the right moves now considering these two positives, you can survive.

5 Simple Things You Can Do

Here are 5 simple tips to consider making as you open up, or accelerate your business:

1. Make sure you establish and implement your vision as to where you’re going, and how your team fits into that vision. Communicate this with them so they can be a part of your success, and their own success.
2. Trim, as compassionately as possible, your staff. Only keep or rehire those that see your vision and want to be a part of it unconditionally. The unemployment vs getting back to work has actually made this division a little easier. Don’t be afraid to use it to your advantage.
3. Rethink HR policies, benefits and management practices. Everyone is going through a tough time, so be compassionate, flexible, yet deliberate in your policies and management practices.
4. Implement bulletproof HR strategies including day-to-day management practices, timekeeping strategies, online hiring and onboarding and being diligent about your employee documentation just to name a few. Economic downturns always seem to attract litigious employees and all too eager attorneys willing to helping them find free money at your expense.
5. Be a part of the solution, be engaged with your employees, your clients, and your community. We’re all in the same boat and helping each other do well can be your little contribution to paying it forward.

The strongest will survive this, those that think they can do business as they did before, will likely not. Your best employees are your greatest asset, before, now and in the future. If you treat them well, protect your liability and seek to be innovative in your approach to rebuilding, you’ll make it.

The team here at Infinium can help you implement some new strategies to help you streamline your HR, eliminate legal loopholes and manage your workforce better. Stay tuned as we introduce some new features in the coming weeks.

Please don’t hesitate to reach out to us for anything we can do to assist you.