As organizations begin to make critical adjustments and implement response plans, it is inevitable that changes will occur to underlying business models. Some industries will be more exposed than others. In particular, sectors like construction, media and entertainment, energy and utilities may be in for a rough ride. Not all companies will survive, potentially paving the way for mergers, acquisitions and further market concentration in the coming years. So, the entirely new models and practices will begin to form.
Unemployment can rise above three million in extreme cases and put us face to face with a severe recession.
Germany wide, Forecast of the Institute for Employment Research (IAB)
In different media there are already an uncountable number of multistep guidelines for crisis management, but to be honest, only a few of them are really working when the time comes. So, after considering real practices of the real business strategies, let’s see what must be implemented as a matter of priority.
/ Crisis preparedness plan that fully integrates the human capital:
/ Emergency response plan: evacuation, sheltering and lockdown
/ Crisis communications plan, describing how to efficiently communicate with employees, customers, the media and stakeholders
/ Business continuity plan, listing strategies to overcome the disruption of business
/ IT Plan, including the recovery of computer hardware, connectivity, and data.
/ Information, training and talent development
An imperative role of HR in crisis management ensures that employees can effectively implement the crisis management plan. Training and talent development provide employees with the knowledge and skills necessary to enhance the recovery process.
It is essential to ensure that employees are provided with knowledge and skills on how to deal with crises, know what to do when an emergency hits. Members of the crisis management team should be trained so they are familiar with their responsibilities within the emergency, communications and business continuity plans. Advisable crisis communication channels include:
/ Special area on company intranet
/ Special section of HR help center
/ Telephone hotline for employees
/ Daily bulletin board postings, or email updates
/ Password-protected Internet site with a discussion section strictly for managers.
/ Act with data–and empathy
Through training and motivation, an organization can ensure that its crisis management efforts are fruitful by actively engaging employees in the process. In order to proceed in this, every self-respecting company must be aware of modern smart tools, because only by the use of data-driven and AI-supported solutions the best performance will be achieved.