Tag: COVID-19

As the nationwide COVID-19 lockdown nears the end of its initial deadline, businesses across the country have had to review the way that they communicate with their employees. With the diminished in-person contact that employers now have with their workforce, it is vital to have a system in place that ensures staff are equipped with the right information in order to stay safe, remain engaged with their companies, and be prepared for work to resume.

In response to the COVID-19 emergency, the South African Reserve Bank (Reserve Bank) and the South African financial sector regulators, the Prudential Authority and the Financial Sector Conduct Authority (FSCA), have implemented several mitigation measures to support the economy and companies.

There is promise after the storm, but good planning is needed by business owners in the restaurant, bar and events industry.

The Covid-19 crisis has brought much of the world economy to a sudden stop. Millions upon millions of people are in lockdown across the world, preventing them from working, buying, producing and selling goods and services. Global and local supply chains are interrupted, and small and large companies see a collapse in income. Households are under similar pressure.

South African business author and coach, Douglas Kruger, has written Virus-proof Your Small Business: 50 Ways to Survive the COVID-19 Crisis and the e-book is now available from Google Play and Snapplify. The book provides proactive tactics for small business owners to survive the challenges they might face during the current crisis and in the future.

Advocates of the lockdown ignore the most basic law of life, that benefits have costs, and that costs easily exceed benefits. People's most 'essential' need is income; the country's most 'essential' need is production. The government's decision to extend the lockdown might cause more premature deaths than far less extreme measures, or even lifting existing measures completely. The economic and human rights impact is more extreme than all but a few realise.

Business is looking anything but usual for many organisations, large and small. The national lockdown, a decisive strategy to flatten the spread of the COVID-19 virus, is causing leadership and employees to rapidly consider virtual communication strategies for employees who are able to continue with business while working from home.

Many companies are having to shutdown their premises temporarily at short notice due to the COVID-19 pandemic. Improper action or negligence when decommissioning buildings and production facilities brings risks for companies. Mothballed factories or offices are by no means safe from fire or other hazards – in fact such risks can be exacerbated when premises are idle or largely unoccupied. 

As the business world feels the effects of the coronavirus (COVID-19) pandemic and takes steps to adapt, companies are asking how they should approach their executives’ remuneration during this difficult time. Why is it so important for Boards and Remuneration Committees to address this issue? 

We are at the second week and lockdown is still our new normal. This week would have been hyped with items signifying the Easter period. It would have also been the first long weekend since December. This would have been a much-needed break from the first quarter of the work year however we have been experiencing a break since the lockdown kicked in.