Impact of coronavirus much more than just health
Obviously, in the first instance, all attention is focused on the medical impact of the coronavirus. The focus is primarily on healing the sick, empathizing with those who lose loved ones, and containing the spread of the virus.
It is gradually becoming clear, however, that the logistical and economic impact may be many times greater. And can last a lot longer than the virus itself. Stock markets are falling in record time, countries and economies are coming to a standstill, literally and figuratively, and organisations have to (temporarily) send their staff home.
How do you prepare for this? Is it too late or can you still take measures to limit the impact? What can be done by you? Issues such as:
- Can I cancel a contract and invoke force majeure?
- Am I eligible for a reduction in working hours?
- What can and cannot I expect from my employees?
- Do I have to take financial precautions, talk to the bank or even prepare a reorganization plan?