3 Steps to protect your employees and business against coronavirus
Coronavirus

3 Steps to protect your employees and business against coronavirus.

3 Mins

As the coronavirus continues to spread from country to country, many independent business owners are starting to feel its effects, both indirectly and directly.

We’ve already enacted several measures across our business to ensure continued service delivery and the continued wellbeing of our staff.

Wanting to share those procedures with you, we’ve put together useful advice to help protect your employees and business. 

Chapter 1

Protect your employees

Remaining in constant communication with staff through email, phone, video conferencing and in-person is essential. Let your staff know that this is a continually evolving situation and to be alert to further communication. 

Share the latest information about the virus, and ensure your employees are aware of your company procedures. Staff should stay well informed during the outbreak and take a common-sense approach to protect themselves, their colleagues and their families.

Advise staff to follow the advice provided by Public Health England and other health authorities. 

Make sure you have plenty of hand sanitizer and disinfectant wipes in all common areas of your business. Remind staff to wash their hands regularly and avoid handshakes. Advise employees who feel unwell to STAY home! It’s best to be safe than put the health of their colleagues and customers at risk. 

All staff should avoid unnecessary travel. This includes travelling to see customers, suppliers and attending public events. Where possible try to use video conferencing tools like Zoom which allow staff to conduct meetings online. 

If you have the ability to allow your employees to work from home then we would suggest doing so. We also suggest testing remote-working to ensure your systems can cope with increased demand. Doing this early on will help you identify any issues that may cause disruption in the event that your employees are forced to stay home.

Chapter 1

Protect your business

Assign a dedicated person to stay in contact with existing suppliers and make sure this is a daily occurrence. You need to keep an eye out for any interruptions in deliveries and shipping.

Pay close attention to your top customers, make sure you are actively monitoring your entire customer base and set-up monitoring alerts to notify you of any changes on a daily basis. The same goes for your suppliers and your suppliers’ suppliers. You should add these to your Creditsafe monitoring account to get real-time-updates on any potential risks or insolvencies. 

We are also encouraging companies to take additional measures; keep an eye on emails received from your customers and suppliers, and don’t be afraid to ask for their business continuity plans and the measures they are taking to ensure their business continues with minimal disruption. 

If you receive regular imports, make sure you monitor shipping routes and keep an eye on the countries and regions most affected by the virus. Where possible we would suggest companies to check for alternative suppliers in the event there is a disruption to your supply chain. 

Chapter 1

Protect your cash-flow

Anticipate the worst-case scenario & be prepared for it!

You need to be talking to your accountant and banker. If there’s a shutdown, what will this mean for your business? Do you have enough cash in the bank to survive a two-week shutdown, continue operating, and pay employees and suppliers? 

We also suggest talking with your insurance company to see if business interruption insurance is included within your policy.

If you have any questions about protecting your business against the threat of the coronavirus, please feel free to reach out to us.

We encourage any business who are serious about protecting their business to sign up for a free trial of the Creditsafe platform which contains details on more than 330 million companies worldwide and provides real-time risk monitoring of your customers and suppliers.  

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