In this collection of insights and ideas, learn about the strategies for managing and leading through the COVID-19 crisis. The insights will help you lead through and beyond the crisis, dealing with the immediate issues and looking toward the opportunities for recovery. Topics include leadership, cost optimization, virtual learning, talent management, career transition, sales effectiveness, rewards and benefits, and change management.
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It is an unfortunate reality that in trying times some people will attempt to take advantage of situations for personal gain. Be alert to scams including (1) phishing emails that purport to provide help or solutions to the coronavirus/COVID-19 situation, but are actually intended to induce a click that leads to ransomware, (2) price gouging, and (3) fake charities.
In light of COVID-19 and state and local stay-at-home orders, many businesses have greatly increased the number of remote workers. Firsttime remote workers—and some seasoned remote workers—need to be aware of hidden pitfalls in the gadgets and apps they are using while working from home.
By governmental command or voluntary decision, businesses of all kinds have been altering or limiting operations or closing their doors entirely. Often the business decisions are made apart from any thought of the potential insurance implications. In particular, businesses with commercial property insurance policies may not have been considering whether business interruptions coverage would apply. There are steps that businesses can take now to best position themselves to preserve whatever coverage they have.
Relief was offered when the First Coronavirus Response Act (FFCRA) was passed. The Act provided $104 Billion to help fight COVID-19 and protect workers and families from the health and economic impact of the virus. Other relief and guidelines are highlighted in this infographic for employers facing tough decisions under the pandemic environment.
The COVID-19 pandemic has caused significant burdens for employers and employees alike. While some businesses struggle to survive, others are fortunate enough to be in a position to help employees as they face hardships created by the crisis. Many employers in the latter category are looking for ways to best help employees who are facing financial difficulties as a result of the pandemic. One possible approach for these employers is a disaster relief fund under Section 139 of the Internal Revenue Code.
The CARES Act is a $2.2 trillion fiscal policy response to help American citizens and businesses struggling with the severe impact from the coronavirus pandemic. The law created several important programs to help provide liquidity to small and midsize businesses to cover payroll or other business expenses. Each program carries its own set of restrictions based on employment size and other variables. The intention of the new law is to help businesses operating on Main Street, and in some cases that might include some family offices and their portfolio companies.
The U.S. Department of the Treasury released a set of frequently asked questions late on April 6, 2020, to clarify several issues with Paycheck Protection Program loans. These FAQs present the SBA’s interpretation of several provisions of the program, in some cases contradicting interpretations from banks, lawyers, and other advisors. A summary of some of the most important FAQs is provided, along with guidance as to what applicants should do if they had already applied before this guidance was issued.
Given the far-reaching business impacts of measures already taken to control the spread of the COVID-19 virus, many companies are looking to their insurance policies for potential responses to the ongoing financial loss. This guide provides an overview of some key coverage, claims, and risk management areas that are currently top of mind for businesses and insurers.
The COVID-19 crisis continues to disrupt everyday life. In response, the CARES Act of 2020 was signed into law in the U.S. to provide some relief. A summary of the key provisions in the CARES Act for individuals include delayed due dates for tax returns, enhanced charitable contributions, no required minimum distributions from IRAs and retirement plans, one-time payments from the federal government, deferred tax payments, and other programs for businesses.