Businesses have been affected severely by the COVID-19 pandemic and are now limping trying to get back on track. The pandemic struck hard, leaving trails of deaths and massive infections across the globe. For entrepreneurs with industrial establishments, the effect of COVID-19 was even stronger because employees were forced to stay away during lockdowns, while the demand for products plummeted.
These devastations lead to one primary question, what is the best way out? This post outlines four main strategies to help you restore your business after COVID-19 pandemic.
Put Greater Focus on Workplace Safety
When COVID-19 pandemic struck in March 2020, it forced policymakers and investors to start rethinking workplace safety. As more COVID-19 vaccines get discovered, you cannot afford to take your eyes off workplace safety. Indeed, it is time to craft a new strategy for workplace safety by ensuring it is part of every policy and strategy of your organization. You can do this through:
- Updating your workplace safety codes.
- Training your staff regularly about the pandemic and how to stay safe.
- Investing more on safety equipment to make your workplace more secure.
Reinvigorate Your Operational Channels and Craft New Ones
As a manufacturer, your operations largely rely on two main channels, the supply of raw materials for production and the sale of finished products. These channels probably shrunk or were struck out by the COVID-19 pandemic. Since you cannot operate without raw materials, it is time to reinvigorate these channels.
- Check out your raw materials suppliers or get new supplies. They will be happy to start working with you again because COVID-19 might also have affected their operations.
- If the old suppliers closed their operations, it is time to look for new ones. The primary goal is ensuring you have high-quality raw materials for your facility.
- Reach out to your distributors, vendors, and individual businesses to start resupplying your products. Note that the demand for your products might still be low, but it will grow with time as more businesses start operations.
Support Your Staff for Higher Productivity
Just like businesses were devastated by COVID-19pandemic, even individual employees also went through tough times. Some had to go for months without pay, others were unable to meet their daily expenses, and some even lost their loved ones. So, you need to offer the support they need to overcome these hard experiences.
- Provide good remuneration to help them meet their expenses.
- After staying for a long time at home, look for ways to help them get adapted to the “new working” environment.
- If some employees went through traumatic experiences, consider offering counseling services. This is a time to be there for each other.
Get Motivation from Top Investors: Iskander Makhmudov
As you think of, it is important to get some motivation from other top investors. One good example of such investors is Iskander Makhmudov, the crafting a recovery strategy founder of the fourth largest non-ferrous metallurgical company in Russia. His companies’ focus on staff development and progressive investment in more efficient systems has helped them stand out even during tough times.
If your manufacturing business was affected by COVID-19, the strategies brought out in this post can help you to reinvigorate the enterprise. Make sure to put a lot of focus on supporting your staff, and learn from other top investors, such as Iskander Makhmudov.
