With similar contextual difficulties, companies are not all reacting in the same way to the COVID-19 crisis. What about your company? Which indicators should be taken into account and what measures should be put in place to get through the course and anticipate 2021?
The first wave of COVID-19 generated a major and brutal change in lifestyles and consumption patterns, which challenged the business models of many companies. The second wave is upsetting a precarious balance and endangering many players.
I have noticed that the companies that resist best - or adapt more easily - have a structure that is both solid and agile at the same time. They are used to reinventing themselves on a regular basis and have the right indicators closely monitored by their directors.
In the current crisis context linked to the second wave of COVID-19, this same type of strategy will enable you to establish a diagnosis, determine scenarios, decide and then implement measures.
Dare to be lucid
One thing is certain: the quicker we look at the situation, the more measures and time will be available to get the company through the course. Often - and understandably so - managers are uncomfortable talking about the company's difficulties. However, the "time" factor is crucial. It is better not to delay, even if it can be painful to reveal oneself.
Caring for proven leaders
This second wave of COVID-19 and the new crisis it generates are particularly difficult for leaders who are already exhausted or on the verge of exhaustion. When this is the case, the first step in the process will be to quickly allow them to step back and set up a professional support structure. Then they will be able to take stock, make decisions and adapt again.
Audit and identify key elements.
To make the right decisions, you need to know where you stand. Certain elements recur time and time again, particularly labour and its productivity. During a support mandate, I tell you, among other things, which indicators to take note of and how to obtain them in order to be able to indicate the state of the premecice.
Determine the flexibility and the action levers according to different scenarios
The next step is to determine the extent to which the company is flexible, e.g. in terms of its financial commitments, infrastructure and resources. This makes it possible to know the elements on which it will be possible to act, by setting up new modes of operation: RHT, stocks or even different services. You will then be able to determine different scenarios according to the current situation and its possible developments.
Implement the action plan
It will be a question of changing operating methods, opening up to partnerships, activating short-time working, even laying off staff - a particularly difficult decision but one that is preferable to bankruptcy - or applying for funding.
These measures do not necessarily take long to put in place. For some particularly agile companies, it was sometimes possible to make adjustments following the second cantonal semi-confinements in just a few days!