A Human Capital Checklist for Private Equity Portfolio Companies
In uncertain times, instill employees with a sense of purpose through compassion, direction, communication and ambition.
1. Self Care
Establish measures to reduce anxiety, promote health and wellness, and take advantage of increased downtime. Identify strategies for team leaders to create regular social contact and help remote workers combat loneliness.
2. The New Normal
Maintain a sense of normalcy and find comfort through establishing new routines. Set performance expectations; schedule recurring check-ins with team members; proactively reach out to clients, customers, and vendors to renegotiate timelines/expectations; communicate changes to all team members.
3. Continuity During Crisis
Take steps to ensure personal and business continuity. Assess your team to determine untapped skills to take on new roles. Utilize new technologies to stay connected (MS Team, Skype for Business, Zoom, Slack, et al). Use video conferences when possible to promote human connection.
4. Building for the Future
Put strategies in place to accelerate recovery. Use downtime to clean electronic files, declutter emails and home office, and collaborate across teams to capture institutional knowledge and build scalable processes.
5. Realizing Opportunity Post Crisis
Adopt a new perspective to creatively identify future opportunities. With planning, skill building and strategies all in place, envision the future. Re-evaluate strategic plans with your team, collaborate on revised goals and objectives, and enlist the support of everyone in advancing the company's goals.