Three Lessons COVID-19 is Teaching us about Crisis Management

Business Transition Alliance

Business Transition Alliance
Three Lessons COVID-19 is Teaching us about Crisis Management

The COVID-19 pandemic has created extraordinary uncertainties in our society. Everything that we knew as “normal” changed overnight as social isolation became the only viable source to keep ourselves, our loved ones, and our neighbours safe. From an economic, political, and social standpoint, navigating this crisis has resulted in uncertainty, loss of control, and emotional disturbances within society.

As a result, there are important lessons the pandemic is teaching business owners and employees alike. In fact, COVID-19 will forever change how businesses operate going forward. Here are three lessons about crisis management that should be top of mind for businesses during this time:

Empathy goes a long way

When dealing with a health crisis, it can be difficult to keep anxieties at bay. As a business owner, it is important to acknowledge the personal and professional challenges that employees, as well as their loved ones, may be experiencing during these times. Leaders may find it difficult to remain levelheaded; however, investing in the well-being of their employees will go a long way in strengthening employee engagement.

Open communication is essential

Leading in a crisis is far from easy. Even with their employees’ best interests in mind, leaders may take an overconfident tone in the early stages of a crisis, or they may suspend announcements for long stretches of time while waiting for more facts to emerge. Transparency and consistent communication are vital to getting through difficult times—especially with a now-virtual organization. Offering a realistic outlook can have a powerful and positive long-term effect on employees and stakeholders.

People are willing to adjust

With open communication from the leadership team, employees can adjust and adapt their workstyle to the new reality —whether it is adjusting to working from home, shortened work hours, or changing business processes. With open communication and an empathetic approach, you can guide your company even further beyond the crisis.

About BTA:

At Business Transition Alliance, we are committed to helping business owners every step of the way. Whether you plan to expand, exit or transition your business, we are here to help. If you have any more questions or are interested in our services, please don’t hesitate to contact us at contact@btahelps.com

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