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The Current Recession

How well are we really prepared?

During the last few years we have been going from one challenge to another. We started 2020 with a pandemic which was exceptionally challenging for businesses and likewise for individual professionals. And after COVID we are confronted with many other difficulties, yet equally challenging situations, such as the current recession! And what comes next?

It is essential to have an “EXIT Strategy” to prevent and reduce serious harm to our businesses and professional activities.

  • If we narrow the perspective down and focus on the main aspect of making business - who or what are the pillars? - people!

  • Insurance, smooth processes, effective structures, efficient communication channels, policies etc. - all of these aspects are important. However, who is operating and creating them and assures that those work properly? - people!

Can we afford losing potential and money during a crisis, such as the current recession?

The costs of a short- or long-term drop-out for an individual

... are not measurable!

Not being able to perform as before or not at all does not only include a negative impact on the income, but it rather translates into all the different areas of our lives:

  1. What are the costs of not being able to provide in the same way for our partner and children? How would it affect the education of our children? What would our partner additionally have to contribute to compensate the financial loss?

  2. How much would it cost not to be able to protect the health of ourselves and our family in the same extent anymore? Or not be able to secure our retirement?

  3. What are the affects on our professional and overall wellbeing and in turn on our relationships?

We have to PROact, instead of REact!

Being aware how much we would need to sacrifice when health-issues are already present can help us to understand that investing and integrating into preventive actions BEFOREHAND can safe an incredible amount of money and time.

If we think that mental and physical health does not require priority and is up to each individual without partial responsibility taken by the company, an individual or organizational cost-benefit analysis with estimated numbers can increase clarity in making the right decisions!

How well are you prepared? Do you have already a roadmap to approach this challenge proactively and prevent serious consequences? - I'd like to hear from you! Let's connect, schedule a meeting with me below.

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