The past year or so has seen major change in multiple aspects of life. From how we spend our free time to how we spend our professional time – chances are, the way you lead your life on a day to day basis is pretty different right now to how it might have been just twelve months ago. The outbreak of the coronavirus and Covid-19 pandemic has seen countless changes implemented to slow the spread of the virus, protect the vulnerable and reduce the workload being placed on health institutions. Schools have been closed. Stores have been closed. Entertainment facilities have been closed. A change that many of us are still struggling to deal with? Changes to work. Many people have seen themselves switch from jobs based in commercial premises to remote work. Many companies have collapsed. Many companies are struggling. Some companies are thriving. It can all feel pretty overwhelming and confusing right now. If you run a business, chances are, you’re considering one of two options to keep your business generating as much profit as possible: scaling up or scaling down. Here’s some information on each.
Scaling Up
Admittedly, relatively few businesses are growing and expanding right now. The pandemic has been harsh and has seen many struggle. But there are some sectors and industries that have experienced increased demand and you may need to size up to accommodate this. The best place to start? Consulting a professional like Jim Thomas lawyer. There are all sorts of challenges to foresee and potentially overcome when it comes to helping your business grow and a professional will be able to advise you of the best steps to take, every step along the way. If you do decide to scale up, you need to be prepared for a period of enhanced workload while you bring new staff on board. Recruitment can be a long and, sometimes, fruitless process and you need to be prepared for it to take a while before you get the right people in the right seats.
Scaling Down
The more common process happening right now is scaling down. As increasing numbers of guidelines and restrictions come into play to slow the spread of coronavirus and Covid-19, many businesses are struggling to maintain a business that adheres to them. There’s also significantly reduced consumer demand in many areas. So, if you find that you are downsizing, you’re not alone. This, of course, is a difficult process. Nobody wants to let staff go, but right now, it may be essential. Make sure you fully understand the right and proper process for redundancies and staff release. If you have a HR department, they will be able to ensure everything runs to expectations and in a legal manner. If you don’t, you may want to consider outsourcing the HR work.
Lots of changes are likely to happen for many businesses over the next year – whether the pandemic continues or whether we simply find ourselves dealing with its aftermath. Hopefully, some of the above information will help you out if you find yourself in a situation where you scale up or down!
