No one has a crystal ball, but I am worried about the economic impact of COVID-19 getting worse before it gets better…
I am worried…about the economic impact of this crisis, about ensuring my staff is taken care of, and that their elderly parents and friends are kept far away from this virus. Just like you, I worry about the toll this will take on our businesses and how bad it will get before it gets better. The biggest concern among manufacturers (and many other businesses) seems to be whether we will be ordered to “shelter in place.” I hope and believe (based on my interactions with our political leaders) that manufacturers will be exempt if we figure out early how to practice social distancing in our plants, and send non-essential folks to work from home.
What I know for sure is that I am exhausted, my friends and coworkers and staff are exhausted, and worry seems to permeate everything. If nothing else, we are all in this together.
Despite all of this, I have an abundance of hope and optimism for manufacturing and our leaders.
As a community and as leaders, we have the opportunity to be the people we want to be, showing more compassion, listening just a little harder, being kind when it easier to put your head down, and simply showing up for other people. For these strange times it is not boss-to-subordinate or colleague-to-colleague it is human-to-human. I have seen my staff offer to babysit and take shifts for one another, I have remote employees calling each other just to chat because they know that they are home alone, and I have seen employees volunteer to help COVID-19 patients even at personal risk to themselves. I can see the good even while we all continually brace for impact. We can still be beacons of light to each other, and we can survive this downturn just like we did in 2008.
For now, I wish you Godspeed in the effort to keep our companies running, our economy moving, and our hard-working manufacturing employees safe and well-employed as best we can. Please don’t hesitate to reach out if MAGNET can help to that end.
CEO of MAGNET
* Follow updated on this topic on our COVID-19 resource page. We’ve scoured our networks for the best tips and consolidated them below. If you have questions or want personalized guidance, please don’t hesitate to reach out. If we can’t answer your question, we know where to turn for help.