Crisis Economics / April 2020 Monthly Update From Corban OneSource

Excerpt from above article:

After all, that epidemic was purely financial — business leaders didn’t have to worry about the added public health and safety concerns of their employees, customers or business partners. Because of this, it’s important to think of this monthly economic crisis recovery as something entirely new.  

One of the biggest differences today, for example, is the idea that employees can work successfully from home. Many companies who thought it would never work, who discouraged it in the past, are not only going it — they’re doing it well. And they’re finding that what their employees need to do great work isn’t necessarily what tradition has taught. As companies rework their budgets for the future, what will that mean for overhead costs like physical office space in the future?

Businesses have also figured out how to deliver essential goods and services in completely new ways, including the handling (or not) of goods during the shopping process. How will these new processes change not only the employee experience, but the customer experience in the future? None of these things were factors in past financial crises —  they weren’t even factors at the beginning of 2020. But in short order, the best leaders are making them work.

Read more … Don’t forget the past learn from it.