8 Tips for Dealing with Coronavirus Challenges Rastrac Team | Apr 16, 2020 1:43:11 PM

The coronavirus (a.k.a. COVID-19) outbreak is continuing to spread faster as more people catch the virus. According to data from the Centers for Disease Control and Prevention (CDC), on January 22, 2020, there was one case of coronavirus in the USA. On February 22, 2020, there were 15 confirmed cases. On March 22, 2020, there were 33,404 cases in the U.S. As of April 7, 2020, there are 395,011 confirmed COVID-19 infections in the United States.

Thankfully, the majority of people infected with the virus are expected to recover. According to data cited by Newsweek, as of April 7, 21,763 people in the U.S. have already recovered from coronavirus infections.

How is the coronavirus outbreak, “social distancing,” and government responses to the crisis impacting companies? More importantly, what can employees and businesses do to protect themselves from these coronavirus challenges?

How is the Coronavirus Outbreak Affecting Companies?

The coronavirus outbreak has had a major impact on all kinds of businesses. With many states and jurisdictions enacting “stay at home” orders for their citizens, many “non-essential” businesses are being forced to shutter their doors for the duration of the crisis. The inability to conduct business as normal is leading to layoffs and business closures. Sources cited by the New York Times state that: “In just three weeks, more than 16 million Americans have lost their jobs.”

Even companies that aren’t directly being forced to close their doors are being affected by the outbreak. Suppliers are having a harder time procuring raw materials and products from overseas sources as the global supply chain is disrupted. CNBC noted that: “Every third company has major Chinese customers and 81% of companies rely on Chinese suppliers.”

Without access to their normal source for parts and materials, many companies are experiencing major shortages of important resources. This creates shortages throughout the economy, as parts makers can’t fill orders and consumer-facing businesses run short of products amid a scramble for everyday goods (like toilet paper).

In short, the coronavirus outbreak is causing companies to lose business (or even close outright), creating delays in the supply chain, and severely damaging the global economy as a whole.

Employee Tips for Dealing with Coronavirus

With the threat of coronavirus looming overhead, employees in every industry need to protect not only their own personal health, but their financial security. Here are a few tips for dealing with coronavirus that employees in different industries can follow to help protect themselves:

• Practice Self-Isolation. Try to limit your potential exposure to COVID-19 as much as possible by staying at home. Even if your municipality hasn’t issued a “stay at home” order or enforced a curfew, now is the time to engage in some social distancing and keep away from crowds whenever possible. You can still go out for necessities like food, but try to avoid lingering in public if you can.
• Consider Using Delivery Services. Many local businesses are now offering free delivery or pickup services for their communities. Call around with your local grocery store, mechanic, etc. to see if they can perform “no-contact” pick-up and delivery.
• Work from Home if You Can. Some types of jobs can be done from the home without having to travel to the office. Odds are that, if your work can be done remotely, your employer will have already started a work from home program. However, if you don’t have the tools for remote work, you may need to ask your employer for assistance.
• Check for Federal Assistance Programs. Signing up for unemployment or disaster relief benefits can feel a little awkward for some—especially if you’ve maintained steady employment. However, it’s important to sign up for unemployment or financial assistance as soon as possible. You can find government assistance programs on the Benefits.gov coronavirus resources page (note: you don’t apply for those benefits on that page, but links to the appropriate resources can be found there).

What Companies Can Do about COVID-19

What can employers do about coronavirus? There are a few simple tips for dealing with coronavirus that businesses of all sizes can follow to help minimize the impact of this disease.

• Start a Work from Home Program. Help your employees practice self-isolation by enabling them to work remotely whenever possible. If you don’t already have a work from home program, consider creating one by using remote collaboration tools like Slack, Zoom, Google Drive, or Microsoft Teams. Obviously, not all work can be done remotely, but shifting what roles you can to work from home can help keep your business productive during a quarantine.
• Consider Applying for a Business Loan. Some small businesses may qualify for a small business loan to help them cover the impacts of COVID-19. As noted by the U.S. Small Business Administration (SBA), the CARES act authorized approximately $367 billion in relief for American workers and small businesses. Applying for a business loan under this or similar programs can help small business owners cover their short-term costs until the coronavirus crisis passes. More details can be found on the SBA’s website.
• Negotiate with Landlords for Rental Assistance. If you have a commercial property lease, try to negotiate with your landlord for a reduction or pause on your lease payments. If you own your building, contact your bank to see what options there are for delaying payments or avoiding interest charges for the duration of the crisis.
• Update Your Unmanned Security. With many businesses forced to close, companies need to ensure the security of their offices, warehouses, motor pools, etc. Using a security camera solution with artificial intelligence that can recognize intruders and alert the authorities can be a crucial loss prevention tool when employees aren’t able to physically secure assets and offices.

These are just a few of the things that you can do to weather the impacts of COVID-19. Need more help securing your company’s assets during this crisis? Learn more about Rastrac’s asset tracking and AI monitoring solutions by contacting us today!