Hi,
Hope all of you here are healthy and safe!
I am based in London, but my company has offices in other European cities. We were not so affected by the quarantine, because our employees are able to work from home, whenever they want. Moreover, we work with our international offices, so we are used to doing the job via conf. calls.
Since everything is blocked and companies learn of new ways to execute their business and services, I am more interested to understand have you started preparing your recovery plans? I wouldn't name it contingency plan, as an event like what we have now might not repeat in the exact same way. I am more interested in a recovery plan, immediate actions that the whole organisation to be trained and start implementing/using so as to recover lost revenue faster.
Best,
Maria
It depends - is the correct short answer ;)
Your approach and plan would be very different subject to the key definitions of 'recovery' and 'post-COVID'. I'll expand on both in some detail:
Recovery is always from some temporary undesired state, something negative has happened to your business. How bad was it? What is the extent (depth) and scope (areas affected) of change, which you plan to reverse?
If the only change, for example, was the place of work (home vs office), it can be an easy recovery plan with the only question you may consider is "Do we really need to bring everyone back to the office, or can they continue working remotely?". If, on the other hand, your industry and business model depend on frequent customer interactions in-person, and their ability to move freely and visit premises - this may have involved closures of premises, releasing (or furlough-ing) of customer-facing personnel, significant drops in turnover, accumulation of debt, and more. Which can make it a complex recovery plan with lots of 'swim lanes' (workstreams and tasks) in the Gantt chart ;)
Another aspect of the 'recovery' keyword is: do you really want to restore the same previous level? Are you sure the 'new normal' can viably be the same as the 'old normal'? Or will it be a compromise, an acceptably lower level than before, but stabilised for longer term equilibrium? How about making it better, taking it higher to a next step? Which in turn brings us to revising strategies, goals and operating models. I'll come back to this in a moment.
Let's look at the 'post-COVID' bit in your question: do you mean the morning after? Or the week after? Are you sure it's a finite event with a clear end, after which there is 'no more COVID' and things can be different? If you accept that there is no clear cut-off (and probably no real end at all) - does your 'post-COVID' horizon stretch to 2021 or, perhaps - to 2030?
Your (and your leadership's) thinking can be pragmatic and tactical - for the immediate short-term, or it can be strategic and long-term: to transform the business based on the COVID learning, with the resilience to meet future disruptions and to thrive in any circumstances without sacrificing customer, employee, and shareholder value.
Now combine this time dimension (tactical vs strategic horizons of post-COVID) with the above definition of recovery (what the New Normal should look like), document these decisions and get your leadership firmly committed to them. then communicate them both internally (to inform and motivate the workforce), and externally (to explain to customers, suppliers and the world at large what you intend to change and why) - and you will be ready to embark on the actual change.
My firm uses detailed methods and tools to help clients with all this, but I would not 'sell' our services here. Suffice to say that, like any change (whether tactical patching or strategic transformation) it boils down to meticulous planning, defining of milestones and timelines, adequate resourcing (financial and human resources), and allocation of strict personal responsibilities and accountabilities for all parts of the plan. Simple, Watson?
Best of luck with your recovery!