Timeframe | ||||
Stakeholders | Considerations | Immediate | Short-term | Long-term |
Workforce | How do we deliver product/services – in person? | 1-Identify roles that are business critical to remain in person 2-Identify roles that can be temporarily suspended 3-Identify and convert other business necessary roles into remote capable 4-Overlay necessary employee safety modifications and additional IT infrastructure as needed |
1- Determine if business critical roles move to remote capable over time 2- Identify additional support/training required for employees working in new processes 3-Identify new tools (IT and others) to assist and consider changes to performance review/coaching processes |
1-Consider delivery of products and services without significant in-person interaction 2-How does this positively or negatively impact employee experience? 3-Identify areas to maintain the new normal and not resort back to previous processes |
How does our volume impact our headcount? | 1-Assess the FTE needs to deliver using multiple % of current volume (25%, 50%, 75%) 2-Identify if excess headcount can be redeployed in other parts of business 3-Consider alternate arrangements – furloughs, reduced work schedules 4-Evaluate emergency government support plans and impacts to employee benefits/welfare plans |
1-Develop a employee ramp-up plan for return to increased volumes 2-Identify additional support/training for employees in new or different roles 3-How do we support our employees on furlough or reduced work schedules? |
1-How can we change or create new roles to make employees more cross-functional? 2-How do we create an employee career path that is more diversified or has opportunties to advance into other parts of the business? 3-How do we empower employees to reimagine their role in the company? |
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Does our business require the mobilty of our employees? | 1-Identify employee travel requirements and restrictions 2-Reassess business needs for travel and consider alternative arragements (Video/Conference calls) 3-Consider changes to employee compensation arrangements based on commisions which require covering large geographies |
1-Assess impact of lack of travel on performance metrics – positive/negative 2-Consider alternative performance metrics based on new processes and expectations 3-Assess impact of lack of travel on customer and employee satisfaction |
1-Consider broader changes to these highly mobile roles based on a non-mobile experience 2-Could staggered or other alternative travel schedules improve both employee engagement and retention and customer satisfaction? |
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How productive can our workforce be remote? | 1-Identify process changes needed to work remotely 2-Clearly define roles and expectations 3-Ensure IT infrastructure and capacity exists to handle larger remote workforce 4-Establish new communication protocols/processes for managing remote teams |
1-Develop a plan to capture input from employees on how to improve expereince and efficiency 2-Develop a plan to continue to have teams engage socially and with live interacton (video) 3-Increase frequency and diverstiy of touchpoints and feedback from team leaders |
1-Consider what your current metrics are for a high-performing productive employee are – have there been myth-busting changes in those metrics/criteria? 2-Consider how this might change what your idea of an ideal workforce looks like – do you make changes in your recruiting process to be open to broader scope of candidates? |
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Customers | How do we meet customers’ needs and get product or services to them? | 1-Review your supply chain and distribution channels. Identify likely disruption points 2-Identify potential solutions for broken or disrupted chain 3-Develop a communication strategy for impacted customers – re-level expectations on changes to delivery methods and timing |
1-Re-evaluate customer delivery approach 2-Consider how technology can be utilized to modify customer experience 3-Develop mechinisms to track “new” customer experience |
1-Review what your value proposition is to your customer – did your customers agree? 2-Reconsider where you say you differentiate yourself from competition — did that hold true during this adversity? 3-Are the customers you have, the customers you are targeting/should be targeting? |
How does demand for our product change? | 1-Update material & demand planning, model multiple scenarios 2-Consider impact on current finished inventory or service capacity, consider options to create demand to move existing stock faster (discounting, other outlets) and/or stockpile inputs |
1-Consider ways to increase frequency and efficiency of production planning cycle to more quickly adapt to volitility 2-Consider ways to increase engagement with your customers and suppliers to facilitate greater partnership and transparency to mutual challenges 3-Consider alternative uses of exisitng products /services or unused capactiy |
1-How nimble is your supply chain? How strong are your relationships? Could you adapt quickly to the volitility — what needs to change? 2-Is your data and the processes through which you see your data good enough to make timely decisions – where did it breakdown? |
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Where does our product get made, how centrally managed is it, and what is our control over it? | 1-Review your contractual obligations or purchase commitments based upon your ability to control supply and output (how outsourced are you?) 2-Develop plan for remote management – increase plant interaction & reporting. 3-Consider how IT infrastruture and security and physical security measures need to change |
1-Consider contracts and potential opportunities to flex or renegotiate terms 2-Reassess business continuity plan – does it fit for COVID-19 challenges? 3-Consider development of dedicated operations response team |
1-Re-evaluate in-source vs. outsource choices. Are there was to mitigate future risk of either choice? 2-Are you close enough to how, where, & when your products are made or services delivered to effectively manage it? How could techonolgy close the gap? |
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How much volume can we produce or deliver? | 1-Identify new capacity targets given restraints based on disruptions up and downstream 2-Develop a communication plan to reset expectations on future production 3-Consider how you can assist or create alternatives to fill customer’s new gaps |
1-Develop a plan to ramp-up for when volumes return 2-Review how you commincate with customer regarding current and future status 3-Consider how you continue to attract new customers with depressed volumes |
1-Are there new suppliers/customers we need to identify and add in order to reduce volitility? 2-How flexible is our production capacity to produce across our entire product/service portfolio? 3-How can I get better data to analyze/stress test thesetypes risks to my organization before they happen? |
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Shareholders/Creditors | What was our cash need to handle our current operations? | 1-Identify current sources of cash in the very near term 2-Understand current run rate to meet current business commitments 3-Prioritize all sources and uses of cash |
1-Develop robust short-term cash flow projections – 30, 60, 90 days. Develop new processes to increase discipline where needed 2-Create action plan within the organization around maintaining/increasing cash |
1-Do you regularly update your cash flow needs? How good is your model? 2-Can you quickly evaluate multiple scenerios? 3-Do you know what your mission critical spending is? |
How much cash do I expect to generate based on expected volume changes? | 1-Adjust your current forecasting models 2-Determine volume levels which trigger defined financing/cash saving/other decision-time actions |
1-Work with ops/sales to identify opportunities to move product/services faster-promotions/discounts/rebates 2-Develop a strategy with suppliers and other vendors to change payment terms or defer payments |
1-How closely linked are financial forecasting and production planning? 2-Do you know what products/services generate the most profitability? 3-How long does it take you to determine? Is is fast enough to quickly adapt? |
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How much flexibilty do you have to access new sources of financing? | 1-Review your current bank agreements – examine covenants 2-Determine current capacity in exsiting financing arrangments 3- Talk to your exisitng financing partners about expanded financing or alternative financing based upon updated forecasting |
1-Review all government funding programs and consider in combination with traditional and non-traditional financing options 2-Consider alternative ways to increase cash – delayed spending/tax planning/others 3-Schedule more frequent interactions with lenders, consider developing new short-term metrics |
1-How do you determine your financing arrangments and relationships? 2-How do you decide how much capacity you need?Is it just based on what someone will lend you? 3-Does it meet the demands of your strategic plan? |
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How can you change your investment resources allocation? | 1-Evaluate all current projects 2-Determine ability to expand working capital through delayed project/capex spending 3-Prioritze projects based on critical business framework |
1-Consider prioritizing projects/revenue programs that come with a quicker take-off and slowing longer-term projects as needed 2-Develop a clear alignment of projects and potential projects to strategy plan – ensure funding for only projects that are aligned |
1- Do you have a roboust project approval/alignment plan? Is it strategically aligned? 2-Why are certain projects pursued and others declined? 3-What data are you using to make those decisions? |
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Community | What is our current positioning in the community? | 1-Identify your key community relationships (business, charitable, governmental) 2-Identify key areas where your business needs help or can provide help/guidance/input |
1-Evaluate ways to drive ethical/moral decision making in the business community 2-Consider ways to be a standard setter to protect community stakeholders |
1-How was your position in the community prior to the crisis, an asset or liability? 2-Did other businesses with a better position fare better? What needs to change to your brand in the community? |
How do the business changes we have to make impact our community brand? | 1-Consider brand/community impact of business decisions 2-Develop a communication plan for setting expectations |
1-Consider new metrics for measuring company impact 2-Consider ways to increase frequency of communication with community to track their changing needs |
1-How are you measuring the impact your community has on your bottom line – could you? should you? 2-Do you think of your community as a key stakeholder of your business – where do you prioritize it? How does this crisis change that priority? |
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Where and how do we make our community investments – time, treasure, focus? | 1-Identify areas of significant investment in the community across the spectrum 2-Consider ongoing commitments to continue to fund, support, give time |
1-Consider ways to increase internal mobilization around impacting community 2-Consider developing community response teams and how employees unable to remote work can be utilized to assist in the community instead of the business |
1-Are you focused on the right things in the community? 2-How did you choose what to invest in the community? Is it consistent with your purpose as an organization? Does it matter? |
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How can we continue to positively impact our communities? | 1-Identify alternative ways to continue to impact community given new restricitions and new business situation 2-Rebalance portfolio of investment across time, treasure, focus to fit current new normal |
1-Develop teams/structure to continue to provide volunteer opportunities during this time 2- Partner with organziations to co-develop solutions to rethink how you can be impactful |
1-Does your organization spend enough time impacting the community? How do you determine the right amount? 2- How are you making that decision? With what data and through what lens? |