Leveraging your people as a critical asset in response to COVID-19 and the CARES Act

Companies face unprecedented challenges in responding to the novel COVID-19 outbreak. 

Related topics COVID-19

Chief among these challenges — how to protect the well-being of workers while also maintaining business continuity and protecting the bottom line. Four things all organizations should be considering:

  • Utilize workforce economics to improve liquidity and enhance the capital position, including government relief
  • Reconsider employee mobility and travel for cost avoidance and compliance
  • Foster an employee experience that will protect people and keep them informed
  • Build your organizational muscle to enable people in new ways of working

Key actions to consider

Enhancing capital

  • Perform workforce economics modeling and execution 
  • Explore talent leasing opportunities either through dual employers, employee leasing or outsourcing 
  •  Implement tactical workforce scenario planning response to COVID-19 
  • Adapt an executive workforce 
  • Conduct organization and workforce transformation assessment 
  • Upskill and reskill

Cost avoidance and compliance

  • Carefully plan return-to-work/travel approaches 
  • Provide closer tracking of any business travel by employees 
  • Support globally mobile employees and their families 
  • Develop policies for supporting remote working or any stranded employees in transit 
  • Evaluate payroll tax involvement for new taxing jurisdictions

People risk and compliance

  • Develop in-house channels and hubs for employee questions and concerns 
  • Launch COVID-19 chat bot to triage the high volume of questions from employees related to workforce impacts 
  • Provide leadership briefings and cascade communications 
  • Review and reinforce workforce health provision (in-house/third party) 
  • Consult with subject matter resources on legal and health and safety issues

Preserving production

  • Review and accelerate virtual collaboration and technology to support new ways of working 
  • Increase engagement with workforce and implement communication check-ins 
  • Provide adequate IT support and infrastructure 
  • Review data communication policies and cyber risk 
  • Appropriately tax safe-working benefits

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