Navigating the crisis - Advice for Tenzing owned companies

COVID-19 Coronavirus

Written by Glenn Elliott

Last published at: April 1st, 2020

We're here to support .

The COVID-19 situation is the most severe worldwide public heath crisis since the 1908 Spanish Flu. It is causing the most severe economic impact that we have ever experienced.

Tenzing is here to support all of our entrepreneurs and CEO's and we've prepared this set of resources in order to help where help is needed. 

The way to respond to the crisis and communicate with staff must remain the decision of and in control of each portfolio company CEO. Only you understand the unique situation and context of your business.

COVID-19 Impact

COVID-19 is now causing severe impact on all businesses worldwide.

They key business challenges are :


    • Sales pipelines will stall as customers run out of cash, halt spending,  are distracted with their own COVID-19 impact management or have been forced to close themselves due to government instruction
  • Large portions of your workforce off sick or self-isolating at the same time
  • Large portions or all of your workforce working from home

Around the world we are all seeing the global economy stall with the travel, transportation, hospitality, retail, film production, automotive,  airline and events industry most critically affected. . 

Be in this for the long haul

Over the weekend of 14th and 15th March, the UK government started to hint at how long this would last. Schools in Ireland will close for four months and the over-70's will be asked to self-isolate for four months. Public Health England expects the crisis to last until Spring 2021.

As you put mitigation and coping strategies in place be aware that these will need continuous refinement to be fit for purpose for an extended period of time.

Priorities

This is new uncharted territory for all of us. We've been keeping up to date with what the government and the WHO are recommending and what the best resourced of other companies are doing.

Today, our best guidance is to consider to following three priorities as your objectives:

  1. Look after the physical and mental well-being of your employees as your first priority. more details
  2. Maintain service to clients throughout the crisis as far as you can without compromising employee safety more details
  3. Reduce spread in the community by reducing social contact and travel where necessary more details

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