Learn how technology can help companies improve contingency plans to protect remote employees during times of crisis.
By Equus’ Gareth Davies
With remote work becoming the norm, companies can access global talent. But global talent may be susceptible to regional crises. And companies need to have a contingency plan to protect and provide direction to their remote employees in such a crisis. Discover how technology can help companies improve their contingency plans.
A Gartner survey found that 88% of organizations were ill-prepared for COVID-19 at the outset of the pandemic in March 2020. Some industries reported even less preparedness after experiencing the pandemic’s sweeping effects. An Ernst & Young survey in late 2020 of supply chain executives found that only 2% reported they were ready for a pandemic-level event.
Organizations are reassessing their contingency plans and preparedness as the pandemic heads toward a fourth year. Organizations might sometimes have well-constructed policies and procedures designed to handle risk but delay activating those plans. This often happens when there is no executive ownership of the risk and no sense of urgency to protect the business through swift and appropriate action. Whether acting in their personal or professional life, people often do not take risks seriously until they are faced with them and start to feel the negative impacts.
Business leaders that downplayed risk or were slow to react received a “wake-up call” with the pandemic. In contrast, leaders who realized the value of a contingency plan to help them navigate through crisis along with a technology-forward organizational structure enabled them to communicate effectively, support team members and customers alike, and facilitate business growth and innovation. Leaders also found greater control and complexity in handling crises in a connected and global world.
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