Member: Sir, what is your advice to a growing […] company with a staff strength of […] that develops software applications, on how to preserve its business. What are the best practices of keeping payment of staff salary aside from laying off staff since the company might not be able to continue paying salary. How do you keep staff in such difficult times like this with the belief that business will become better? Meanwhile the company doesn’t have any savings but is driven by vision and believes in not giving up, continues to progress and not give up.
Note: These were the questions I received as feedback after drafting the pandemic policy. I was asked to include it in the policy.
Ndubuisi: That is a comment from one of our members after we challenged members to draft pandemic policies for their companies as part of our learning lab. We ran a session titled “The Pandemic Economy” with a template for a pandemic policy. This comment came in on Monday and was just on time as this week’s session focuses on a playbook during pandemic, recession and market upheaval. The playbook is so detailed that these questions were already addressed. Accordingly, I asked the member to refer to the playbook to get guidance on the modelling. More so, we included case samples – Covid-19 Business Continuity Plan, and Covid-19 Business Contingency Plan – which any member could customize for his or her company. We are impacting knowledge in Tekedia Mini-MBA. Join us for edition 2; registration ongoing.
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https://www.tekedia.com/mini-mba-2/
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Register for Tekedia Mini-MBA (Feb 10 - May 3, 2025), and join Prof Ndubuisi Ekekwe and our global faculty; click here.