What have business leaders done to reassure and support their workforce through the Coronavirus crisis?
Luis Saverio Stateri Partner Friisberg & Partners Brazil
Here in Brazil there is a big difference between some large corporations that are able not only to maintain their workforce, but are being philanthropic, donating money, products and services, and the small, medium and even large enterprises that are highly affected by the crisis in the short term. In order to reassure and support the workforce, which means here keeping people in work, almost every company relies on the new measures being announced by the government. Most business leaders, from small to large corporations, are also developing and adjusting scenarios as the level of uncertainty remains high and at the same time our government announces new rescue measures almost every day. I would say that the majority of the business leaders are truly committed to avoid unemployment. Even in the most impacted industries, in which there is no room for cutting costs to match the huge fall of the revenue, the business leaders are implementing several recently-announced government measures to avoid unemployment, which basically allow the employers to reduce salaries for a limited period of time and temporarily suspend the contracts keeping only the benefits such as health care. One may take into account that Brazil has some of the of most rigid labour laws in the entire world meaning there is an obligation on the employers to safeguard jobs for the same amount of time of the salary reduction or contract suspension. It is imperative that business leaders remain very well informed, updated daily, empathetic and assertive in order to make decisions, focused not only on securing the future of the company, but also on saving as many jobs as possible.