What can we do when suffering from losses during MCO?
Be it large companies or small medium enterprises, everyone is impacted globally due to the Covid19 pandemic.
Employers are asking if they should cut pay during the RMO. Employees worried about getting retrenched should the RMO gets extended.
We can only hope & pray that the situation recovers soonest.
What can Employers do in the interim?
1. Cut all unnecessary expenses and consider asking for deferment of loan payments with your banks/financial institutions.
2. Invest in Online Training for your employee’s development. Let them develop new skills that would help improve their work performance.
3. Restructure your work assignments to your employees so their workload is optimised. If employees are resourceful from home then their salaries are justified.
4. Time to think outside the box on how you can still continue to do your business. Go online, do sales calls, offer discounts for future engagements, ramp-up marketing efforts. Re-engineer your product or services portfolio.
5. Increase your service value. Be more resourceful to your customers.
6. Do your part to encourage people to stay home so you can help the nation to break the chain of the disease. The sooner we break, the faster we get back to Business.
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