This is for OWNERS/MANAGERS of recruitment companies in Covid-19 crisis

This was an ’emergency blog’,  put out as the severity of the COVID crisis was being first understood

Still valid. I hope it helps you.

I have had dozens of crisis meetings with owners in the past week, about how to respond to the current situation.

Mostly those conversations start frenetically – ideas and fears being tossed around at random. Ad-hoc solutions mooted and often agreed without consideration of the ‘knock-on effect’.

So, I developed a simple framework, which has helped us group the issues, and apply a bit of structure to the myriad of challenges faced:

1) Address our COST BASE. How much do we expect GP will fall? (I know we don’t know. You have to estimate). What will our new break-even be? What costs can we cut to at least get to break-even, or at worst give us a long cash runway to survive 12 months? Get cashflow projections done. Below is a matrix to use as a planning framework. Update every few weeks ( Source Sequoia)

2) Our STAFF. Health considerations. Working styles (WFH). Productivity initiatives. Communications framework. Morale. Mental health.

3) Our CUSTOMERS. Clients and candidates. Current pipeline. New revenue streams. New payment options. Engagement strategies. The assistance we can give. Maintaining profile.

This podcast will help.

And last weeks blog

On Tuesday in my blog I will address the actual action items taken. SUBSCRIBE HERE  to make sure you get that and further updates

Stay well all. Be kind to everyone.

“This too shall pass”

*****************************************************************************************************************************************