COVID can’t take away the hope from us.

As a community, we are all sharing the same experiences of fear brought by the COVID19 situation. It is something most of us have never experienced before. Uncertainty about the future can make us feel anxious and doubtful. The same has happened to some organizations, but with the months passing by, we are starting to learn more about the whole situation. Here are 4 key learnings that companies can take away from the current crisis by Ernst & Young, to keep in mind for the future.

1. Think the unthinkable

If you have a business, add under your new strategic plan the risk of an event with a magnitude like COVID. Think the unthinkable, and event even worst than COVID, and build a plan for it.

2. Business continuity is vital

Your business has to focus on its people’s health and well-being. However, it has to also focus its business continuity strategy because a sustainable financial performance will allow us to cover those needs for our people over the long-term.

3. Transformation is more important than ever

The power of technology is playing one of the most important roles for all businesses right now. Without technology, we cannot connect people or have businesses running. You must invest in technology for your business if you haven’t already.

4. We must prepare to change

With the COVID-19 situation, organizations will be forced to change. Your company will probably have to adopt new ways of working, invest in your resilience, and reconsider your business model.