How Should Companies Take Measures Against The Coronovirus (Covid-19) Epidemic?

The world faced one of the biggest epidemic threats as the Covid-19 virus has turned into a pandemic. Mandatory travel prohibitions, quarantines, and many practices and restrictions are enforced to minimize the effects of the virus on humans. In such a risk environment, all individuals and institutions also have certain responsibilities. Schools are closed, events are canceled and people are warned not to be in closed environments as much as possible.

So, what should companies do in such a risk environment?

• There are companies that make plans for their employees to switch to home office work.

This can be managed by establishing a system where everyone's individual and team goals can be followed.

• Many companies stopped their international travels and restrictions are imposed on national travels.

• The meetings started to be held in a virtual environment.

• International conferences have been canceled.

• Employers are advised to keep their communication strong with employees by keeping them up-to-date with the latest developments.

• Different measures can be taken for the employees who are unable to work due to illness. For example, for those who cannot work because they got sick, 14 days paid sick leave can be given, or by reducing from their annual leave working hours can be reduced as well.

• The state itself introduced many support programs to protect companies. Companies can make the necessary follow-ups to benefit from it.

• Disinfecting the workplaces and to providing various trainings to the employees to ensure protection from the virus are some of the important steps to be taken as protective measures.

• Cash flows should be planned in the medium and long term. Companies should prepare scenarios that reveal income-expense risks. According to each scenario, studies should be made to create models that demonstrate the factors which can reduce the liquidity.

• They should do the necessary things to keep the supply chain in balance.

• Plans should be made to be as close to your customers as possible.

• Tell about yourself, your company and what you do by using digital media more actively.

• If you have a company structure suitable for e-commerce, give weight to it.

• Studies can be made to convert your receivables into cash as soon as possible.

• If you have orders to be delivered, make sure to deliver them quickly without cancellation.

• Manage the goods purchase at the critical inventory level.

Compiled by specialist Melek Çil