Business resilience and recovery: top tips for international businesses
Moore Kingston Smith was delighted to be a part of a Q&A discussion hosted by London & Partners. Our experts Steve Asher, Director of Global Mobility, and Dan Leaman, Corporate Finance Partner, provided their insights on internationally mobile employees and business resilience and recovery.
Here are their top tips on what international businesses should be considering now to ensure recovery:
1. Engage in detailed scenario planning so you can respond as quickly as possible when things look challenging.
2. Seek advice and support when difficult issues arise as early as possible to deal with the situation head on rather wait and lose control. There are a variety of options available and an experienced multidisciplinary team of professionals will be able to guide you through them.
3. Communication and leadership are key and you should be communicating effectively to all stakeholders, but particularly employees, customers and supply chains.
4. Duty of care to internationally mobile employees is vital and you should be considering what you could offer to support their mental health and wellbeing.
5. To effectively manage your people, you will need to develop a flexible mindset that supports flexible working arrangements.
6. Workforce scenario planning will help you anticipate the need to support various types of work arrangements that will evolve throughout the recovery phase.
7. Do not forget Brexit planning and be aware of the EU social security and healthcare arrangements that may become more complicated and costly.
Please contact Steve or Dan below to discuss any of these areas.