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With many states under some form of a stay-at-home restriction, the COVID-19 pandemic has undoubtedly had an impact on PEOs. Such a sharp decline in the daily workforce is unprecedented. The COVID-19 pandemic has caused businesses around the country to go from some of their most successful years to little or no revenue overnight. The level of severity may depend upon where your worksite employees are located or what industry they work in, but nobody is immune. When faced with uncertainty we must remind ourselves that we are all in this together and accept the fact that things are changing rapidly. The business plan that you have been using and has been so very successful in the past, needs to change. It’s important to remember that this pandemic is out of our control (but we can and should practice social distancing and adhere to stay-at-home restrictions). It’s easy to focus on the fear of uncertainty, but by challenging ourselves and shifting that focus to a creative response is how we will make it through this. Please know that we are here to support you. We are monitoring all new information as it relates to programs that may help you and your PEO. This is a very fluid situation and a lot of programs are being considered without the details for implementation or “how to apply” for the programs having been finalized. Here are some things to consider as you work through these uncertain times and plan for the future:
These are a few quick suggestions to get your plan in motion. The hard part is not knowing how much damage the pandemic will bring to the economy in the longer term, but let’s stay focused on what we can control one day at time. Remember, the economic fundamentals were strong before the pandemic, we are resilient and will rebound!
Your PEO team