20 Mar Measures to steer your business through Covid-19
|MEASURES TO STEER YOUR BUSINESS THROUGH COVID-19|
|Some possible measures that you might consider to steer your business through these unprecedented times:|
* Consider seeking agreement to a temporary reduction in the number of days/hours that staff work, or to a period of unpaid leave.
* Check if there is a contractual right to implement a lay-off or short-time working.
* Seek to agree a postponed start date for new recruits and/or consider withdrawing job offers.
* Implement a recruitment freeze but be careful not to place employees in an intolerable position regarding increased workload.
* Review whether or not any new vacancy can be filled by redeploying an existing member of staff, with appropriate retraining where necessary.
*Review overtime to see if it can be reduced or stopped altogether.
* Invite staff to volunteer for reduced hours or other types of flexible working.
* Consider inviting employees to apply for sabbaticals on part or no pay. And some words of caution:
* Take care that cuts in bonus payments do not amount to a breach of contract.
* Consider the high costs of making people redundant, including the “hidden costs”.
* Appreciate that employers that cut staff numbers during an economic downturn may be ill equipped to take advantage of future opportunities.
* Make sure that you enter into constructive dialogue with your employees about any proposals for cost-cutting measures.
Not all of these things will be possible for every business and virtually all of them require some sort of process.
If you are considering any of these measures and would like further advice please get in touch on 01386 751740 or email [email protected]