Family business leaders face unique challenges during this global pandemic. In addition to the health and economic factors facing all businesses today, many family business leaders have close personal ties to their employees and communities, some going back for generations. Family business leaders can use this time to enhance communication and education within the family system, reinforce their family values, strengthen business resilience, and offer support to employees and their communities.
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As the COVID-19 crisis has unfolded, our global health, economic, and market systems have been severely tested in a very short span of time. Even as we find ourselves in the midst of the implications, many thoughts are already geared toward what happens next … after the worst of this season’s coronavirus spread is under control. This report makes observations on the current situation and takes a look at what the possibilities of a “new normal” might look like, including summaries of key events and market volatility update.
As states, localities, and health officials begin to set parameters around reopening businesses, bringing your people back onsite successfully won’t be as simple as flipping a switch. Every company is unique. But each company faces the same concerns: where to begin, how to keep people protected, when to communicate, and what’s the right way to move forward. The challenge is complex, but there is a framework for moving forward. It starts with asking the right questions and considering the options and regulations around a return to work policy.
A new normal has emerged out of the COVID-19 pandemic, particularly for business owners who are ready to reopen. With each operation unique in its needs, reopening can feel both invigorating and overwhelming. A list of resources are provided here to help you move forward confidently. Not only is this a time to restart and rebuild, it’s a moment in your business’ history when you can reimagine all that can be.
The impact of COVID-19 on our communities is only just starting to come into focus. No matter what happens from here, the damage will be dramatic. Many nonprofits that have not traditionally made grants to individuals are asking if they can do so, and how. With a little bit of planning and advice up front, disaster relief grants to individuals can allow nonprofits to have a direct and immediate impact on those in urgent need, and help those it serves stay afloat until the crisis has passed.
For the first time, more than half of the CEOs surveyed believe the rate of global GDP growth will decline. The finding is compelling because it reflects low confidence in their organization’s outlook, which has proven to be a reliable indicator of both the direction and the level of global GDP growth in the year ahead. Although U.S. CEOs are among the most pessimistic about global growth, they are among the most confident about their own organizations’ growth prospects.
Returning to work in the midst of the COVID-19 crisis presents employers with unprecedented workplace and employee relations challenges. As the Southern states move ahead with phased plans to reopen, it is important to have the right strategy in place for employee safety, absence management and risk mitigation. The HUB Risk Services team discusses and reviews the following return to work considerations and challenges:
As family offices and businesses prepare for a return to work in the post-COVID-19 environment, they face complicated decisions when trying to plan for a safe workplace. This medical intelligence report provides an overview on COVID-19 to help facilitate thoughtful discussions and a better understanding of official recommendations. It also includes general guidance for employers and reputable sources for getting updates and information on the spread of COVID-19 and changes in recommendations to fit the current situation.
The spread of COVID has harmed communities and disrupted many sectors of the economy. For the small- and medium-sized businesses, the disruptions to economic activity have heightened the need for the creation of the Main Street Lending Program to provide support to those businesses. In this podcast, a discussion of the Program provides an overview of the terms, clarity on the loans for borrowers and lenders, and how to access additional resources to help navigate the Program.
In this conversation, Peter Begalla—a well-known family enterprise consultant and a trained family therapist—talks with Amy Hart Clyne about the pressures that families are experiencing and how family decision making and governance have become truncated during this unprecedented time. Peter offers an insider's perspective and shares how he believes the COVID-19 crisis will impact family governance.Topics discussed: