American companies, those which can remain in operation, aren’t simply letting coronavirus have its way.
While you can’t control what coronavirus does, you can adjust and make the most of it.
Take a look at what some other companies have decided to do while coronavirus does its thing:
1. Keeping Patient Mental Toughness
Yes. It’s hard to be patient when your business is going through massive upheaval. You may be one of the businesses who has lost all or most of your revenue.
What are most CEOs doing?
They’re hanging tough.
According to the Young Presidents Organization, 82% of the CEOs surveyed believe revenue will continue to fall for the next six months. However, 54% expect revenue to be back to normal in a year.
YPO also found that CEOs are communicating more with employees, adopting new health and safety procedures, cancelling events, and stopping business travel.
With everyone cooped up for at least the foreseeable future, this brings great opportunity for innovation.
2. Companies Watch Out for Employee Health
Some companies aren’t caring for the health of their workforce. But others are.
Walmart has said it will allow any employee to take time off to avoid the virus if they’re afraid of it. They don’t need proof of an outbreak threatening their health. They’re simply allowed to stay home if they have any fear.
The state of Colorado has also enacted a new policy that will require employers to offer paid time off to their employees.
Starbucks will also allow its employees to attend therapy sessions at the company’s cost. It had been rolling out its new mental health benefit prior to coronavirus’s outbreak. And now it’s following through as it spreads.
Taking care of your employees during crises builds trust and morale. And it can help you win a stronger market position as the economy returns to normal.
3. Giving to Charity
No joke. Even as businesses get crushed by coronavirus, many continue to give to charity.
You may not have the means to continue giving at your normal levels as coronavirus progresses. And you may think it’s completely crazy to consider.
But it does help you through, strange as it sounds. So look at your budget, and continue to give as best you can.
Coronavirus will win some battles. But it doesn’t need to win the war. You’re not helpless. You can take action and make the most of it.
So plan your strategy based on what you’ve learned here, and you’ll make it through bruised, but okay!