Coronavirus Business & Leadership Response Resources

UPDATED: APRIL 3, 2020

BEST Business & Leadership Resources

The recent Coronavirus outbreak has been especially disruptive to businesses and their people. As business leaders, in moments of uncertainty or change, employees look to you for stability, reassurance, and a clear path to the light at the end of the tunnel. But how can you be the leader they need when you may not even have all the answers yourself?

BEST is prepared to help your business through this crisis with a variety of assistance including: 

We understand that there is no playbook for addressing the myriad of challenges businesses are facing at this time. As leaders in the Human Resource Industry, we want to extend our expertise to you and offer support wherever we can. We have certified SHRM personnel and a variety of resources available to answer any Human Resource questions or concerns as companies are making strategic decisions.  

The following are some useful tools, resources, and information. In times like these, it is essential to focus on the most critical asset we have in our business: our people.

From Our Friends at AmericanHort: On Friday, March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It’s an estimated $2 trillion package, which allots $10 Billion for Economic Injury Disaster Loans (EIDLs) and $350 billion for Paycheck Protection Loans to help small businesses. View this discussion on the latest regarding Small Business Administration (SBA) loans and direct payment programs that currently exist as a result of the COVID-19 crisis. With the passage of this stimulus package, timely and useable guidance is essential. This webinar will help you learn what this means for your business.

PPP

Click above to download (PDF).

Small Business Guide & Checklist

According to the U.S. Chamber of Commerce, starting April 3, small businesses and sole proprietorships can apply for loans through existing SBA lenders. Starting April 10, independent contractors and self-employed individuals can apply for loans through existing SBA lenders. Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program.

Click here for the following on the U.S. Chamber of Commerce web site:

  • Your loan eligibility.
  • What lenders are looking for?
  • How much you can borrow.
  • Loan forgiveness guidelines.

FFCRA Poster

Click above to download a poster (PDF) for employers to print and post.

Employee Expanded Family and Medical Leave Rights

Congress passed the Families First Coronavirus Response Act 2020 (FFCRA) on March 18, 2020, to help employees and their families with paid leave during the Covid-19 outbreak. This new compliance impacts businesses with 500 or fewer employees and goes into effect on April 1, 2020. Employers will be required to develop a policy that aligns with this new requirement to pay part-time and full-time employees who have been employed at least 30 days for specific Covid-19 related events.

If your business does not have a professional team or is stretched too thin without time to complete this required policy update for your employee handbooks, please contact BEST Human Capital & Advisory Group. We would be happy to craft the perfect compliant policy that aligns with your unique company and culture.

Well-being AssessmentOur partner, Emplify, a leading employee engagement firm, has just announced a free tool for managers. They developed this tool to gauge the well-being, remote readiness, and specific needs of their teams during this global health crisis. Executive and HR leaders are trying to figure out how to steer the ship during a storm, and this tool can help:

  • Quickly gauge the collective emotional and mental well-being of your team.
  • Identify specific needs that exist within your team while preserving individual anonymity.
  • Get free access to Emplify resources that help managers navigate this crisis.

We all know how hard it is for managers to move quickly and support their teams in times like these. That’s why Emplify created this tool. It is self-service and should take you or your management team less than 10 minutes to set up, and they will have feedback within three days. Feel free to take a look at emplify.com/wellbeing

Leaders: in moments of uncertainty or change, employees look to you for stability, reassurance, and a clear path to the light at the end of the tunnel. But how can you be the leader they need when you may not have all the answers yourself?

Join panelists Adam Weber, Chief People Officer at Emplify, Steve Baker, Vice President at Great Game of Business, and Andrew Appel, President & CEO of Gregory & Appel as they share their experiences and answer your questions on leading through times of change.

Businesses are not immune to times of crisis, especially considering the recent global COVID-19 outbreak. At some point, a company will suffer financial, operational, or other types of distress. Many factors can contribute to or create an emergency, and they are not limited to a weak economy or internal problems.

If your business has entered a period of distress, BEST will partner with you to identify the right restructuring professional to solve your business’s unique challenge.

CORONAVIRUS

Additional Resources

OSHA: As part of our BEST Human Resource Advisory support to clients, click here for OSHA’s new “Guidance on Preparing Workplaces for COVID-19 2020.” Many businesses may not be as prepared or know what to do to ensure their workplace and employees are safe. The guidance is not a new set of rules, regulations, or requirements from OSHA but rather a set of best practices to help ensure businesses provide employees, visitors, and customers a safe and healthful working environment. 

Click here for up to date prevention and protection guidance from the CDC.

As we proceed through these extraordinary times, BEST is fortunate to have a deep network of professionals who specialize in business restructuring, cash flow strategies, and other elements of business health. Should financial or operational circumstances stress you or your company, please contact us for a conversation around restructuring, turnaround, cash flow, and human resources. We are happy to provide proper networking to these organizations or individuals as we navigate this unusual business climate.

In the meantime— Be safe, be healthy, and be informed.

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    BEST Human Capital & Advisory Group is a retained executive search and business advisory/consulting firm that specializes in small-to-medium sized companies, with an emphasis in the horticultural, hydroponics/cannabis, consumer products, crisis management and business restructuring categories. BEST serves companies nationwide and globally in an active and evolving market. Through a well-connected network of colleagues and a sophisticated predictive behavioral screening system (that we call “BEST Behaviors”), BEST drives our client’s growth and success through a focused and consultative approach.

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