includes seeking financial guidance and facing the reality of the situation head on.”
Looking at how businesses will come out of the current situation, Judith Dugdale, corporate services director at MHA Moore and Smalley in Preston, says: “Cash will be key to getting back to normal trading.
“If you need to buy stock, producers and manufacturers are likely to need payment up front as they may not have the cash reserves to pay for raw materials and meet other production costs.
Judith Dugdale
“For those companies that make it out the other side of Covid-19, it will be important to feed valuable nuggets of hindsight like this into future resilience planning.
“Whilst a flood or fire may likely be covered by your insurance, the harsh reality is that we didn’t plan for a global pandemic – which is something on an altogether different scale of unexpected – and we were largely unprepared as a result.”
He adds: “All companies should take whatever action they can to improve their resilience, even if they think they will be okay, which
Expert View
HOMEWORKING: A GUIDE FOR EMPLOYERS by Sally Eastwood
employment solicitor, Farleys
Homeworking is a reality for the majority of employers now, as they adapt their business to the coronavirus outbreak. For some, this is a new way of working and brings questions over how to implement it effectively. These are areas to consider:
Providing equipment – Some staff may have their own computer, laptop and phone that may be able to be used in an emergency situation, but employers should also consider supplying equipment to facilitate efficient working from home. If an employee does not wish to use their own equipment, an employer is likely to hold this as a reasonable request in the current circumstances and if refused, it may need to be dealt with as a disciplinary.
Employers also need to consider how best to manage the risks associated with confidential information and data protection.
Health and safety – The employer has a duty to ensure it is providing a safe place to work. This can be easily addressed by asking the employee to check their home address is a safe place to work. The majority will say ‘yes’ and health and safety will not be an issue. In the unlikely event they say ‘no’, you
should ask why and consider paying for any small changes if necessary.
Costs for services – Employers will need to consider making a payment towards costs of phone, gas, electric, internet and other utility costs. Most phones have fixed sums per month with no additional costs incurred. It is worth bearing in mind that many employees will have substantial savings on commuting costs as they won’t be paying for petrol or train tickets so some agreement could be made to take account of this.
Monitoring staff – It is obviously more difficult to monitor staff working from home. For the duration of any emergency situation arising from coronavirus, most employers would rather have staff homeworking, doing something, rather than doing nothing at all. The majority are going to be grateful for their ability to work from home and will been keen to work as hard as they can to help the business in difficult trading conditions. It is in everybody’s best interests to be as flexible as possible.
Homeworking policy – Employers should consider implementing a homeworking policy, which would deal with a lot of the above and other essential homeworking requirements.
“That could mean also asking your own customers for payment, or a larger part of payment, up front too where possible. We’re all in it together so everyone is going to have to be more flexible and understanding.
“This goes for chasing debtors too. Agreeing a staggered payment plan that enables you to get some cash into the business immediately may be a better approach than demanding payment in full which some suppliers will just not be able to make.
“Good communication is key. Explain why your payment terms may need to change slightly and come to an understanding. Maintaining strong relationships with your customers and suppliers will help you make the most of opportunities.”
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LEGAL VIEW
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