Navigating the Unknown-Virtual Conversation – March 24

Navigating the unexpected is challenging enough, without a global pandemic creating panic. Businesses are being directly impacted in ways not seen since the Great Depression. Protecting business profits and your people are tough to do when being forced to shut down or engage in social distancing. Protecting your family and community are just as challenging.

Listen to the discussion and here what our  panel of  legal, HR/people, Tax and Strategy experts had to say about the following questions submitted by attendees which focused on:

• Areas of focus for business owners to make sure their business survives this time
• Strategies to protect multiples and value during these difficult times
• Tactics for business owners who are ordered to close their business’ – especially those who are franchised
• HR ideas for reducing personnel expense in a time when it is so difficult to find quality employees
• FMLA Paid Sick Leave and how the 500 employees measured across the business, especially those with different locations
• Legal ramifications of shutting down a non-profitable dealership (or business) during this period and laying off all employees
• Long-term implications COVID-19 could have on businesses and how do we do our best to help minimize these effects
• Insurance considerations as it relates to employees working less than minimum hours
• Strategies and implications for employers who do not have a paid sick leave policy
• Insight on the bounce back of the market and the ability to compensate current staffing levels
• Strategies for employers who are “OK” financially and want to pay their employees – can they supplement moneys from the state and federal leave and unemployment legally, also can they temporarily pick up the employee cost of health insurance
• Indications for an employer to determine if an employee’s request for paid sick or family leave is eligible
• Roadblocks and/or considerations exist for virtual management
• Ideas on business interruption claims requests/positioning
• Strategies for striking the balance between the health of your customer and the health of your own business, when customers begin to request reductions and deferrals on invoices
• Insight for people worried about their personal investments
• Impact to the economy with the government’s “rescue plan” to give out checks to families and lots of liquidity to businesses
• Prediction for the automotive industry and its recovery
• Recommend processes for the next 30, 90, 180 days
• Insight for those concerned about Cash Flow
• Outlook on succession planning now
• What a business can do today, if they will be mandated to close tomorrow
• How to best support employees during these trying times

Thank you to our panelist:

• Loyd Rawls & Dr. Merlot: Chairman and Founder of The Rawls Group – lhrawls@rawlsgroup.com
• George Taylor: Partner with Burr Forman – gtaylor@burr.com
• Mathew Scully: Partner with Burr Forman – mscully@burr.com
• Joe Magyar: Partner with Crowe – joe.magyar@crowe.com
• Sheree Knowles: President of HR Knowledge Source- Sheree@HRKnowledgeSource.com
• Renay Winston: President of People -1 -renay.winston@people-1.net
• Dan Gavin: AllianceBernstein – dan.gavin@bernstein.com