Management teams and their boards are juggling a wide array of concerns right now, from the health of their workforces to volatile equity markets to shuttered debt markets. Furthermore, many economists and policy makers have slashed GDP forecasts and now portend a deep global recession. So, what should boards do in a moment of crisis such as this?
Based on my decade-long experience serving on the boards of large, complex, global corporations, I’ve put together 10 questions to help guide boards at this time. Roughly half of them pertain to operations — basically, keeping the company’s lights on — and the other half relate to the financial state of the company.
What can you do to ensure the health and safety of your workforce?
Regardless of what type of business your company is in, the most pressing issue on the board’s agenda should be the health and safety of the workforce amid the Covid-19 crisis. First, make sure employees have access to reliable information about the virus through trusted, official sources.