The state of health emergency imposed by the Covid-19 crisis triggered a global economic downturn. In these uncertain times with inevitable impacts to the economy, it is critical for companies to be proactive in planning practical and sustainable cost management actions to balance economic decisions and empathy with a longer-term vision of the business.

 

Honoring that every organization is at a different stage of the journey towards a new normal, any cost containment measures should align with the mid to long-term strategy.

 

When strategizing to respond, return and reinvent it is critical to consider the employee experience along the way.

  • Respond: Employers execute business disruption plans; support for essential and remote workers
  • Return: Period of volatility when reopening, circuit breaker plans in place to kick back to “respond”
  • Reinvent: Reimagining the future of work; automation, remote-first and reskilling

 

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