The Daily Short! 4/24

By April 24, 2020July 21st, 2020No Comments

Business After COVID – Will it ever be the same?

Over the last 5 weeks 26 million people have filed for unemployment. Projections don’t expect a recovery to pre-pandemic levels until 2022. Some of this delay is precautionary, some is due to career/job change, and some is due to people leaving the workforce.

The U.S. GDP is now projected to contract by an annualized rate of 12% in Q2 as business output readings in April hit a record low. This is much better than previous forecasts of a 40% decline.

However, these are projections. Rather than leave it to chance, what is your company doing to prepare and ensure that it can answer the following:

  • Is it prepared to quickly ramp up operations?
  • Does it have the right number of people with the right skill sets?
  • Are tools in place that will allow a smaller workforce to access information and be more productive?
  • Is it taking steps to reduce exposure to risk in other areas (compliance, supply chain, process, etc.)?

With the proper partnerships, companies can continually improve their ability to execute, their ability to quickly make changes, and their results. Contact us to discuss the benefits of a Bassetti partnership.