Submitted by JLemien on
BLUF: If your organization was forced to stop operations for one month, how would you react. Do you have a "drawer plan" in place? Do you have enough of a financial buffer that you could maintain your financial commitments if there is no money coming in for one month?
Context: I work in China, and I work in the education industry. Many companies are closed (either by government mandate or by the choice of the company leadership) for at least one week due to the novel coronavirus (2019-nCoV), but many companies are closed longer. As of now, it looks like my employer will not be opening any of it's 50+ campuses for the month of February. There is no money coming in for February, but there are more than 2,000 employees, each of whom has their own financial needs (addiction to food, clothing, and shelter, in so many words). Currently, the company is informing all employees to stay at home for the month of February, and is also informing employees that they will recieve 50% of their salary for February. I have a rough idea of how I would handle this if I were in charge (I am a fan of Bob Chapman's "Truly Human Leadership" approach), and I'm curious to hear how each of you would handle this if you were in charge of a company in this kind of situation.