As businesses re-open and begin their recovery from the COVID-19 pandemic, they may be looking for ways to boost their revenue. A great way to do so is through strategic partnerships. Whether you partner with a single-service provider that can alleviate an area of concern or local companies who can provide additional benefits to your business, strategic partnerships lend great value to business owners across various industries.
Strategic Partnerships to Explore
Internal. One of your greatest partnerships is with your current employees. Roughly 45% of employers face the difficulty of employees’ fear of coming to the workplace due to potential exposure to COVID-19. Partnering with your HR team and providing useful resources, information, and support to employees can offer some peace of mind.
HR specialists are used to communicating and addressing difficult subjects, such as the fear of returning to work post-COVID-19. They can also navigate complex situations and bridge the gaps for feedback, providing a more collaborative effort so all parties can find success. Human resource departments are trained and educated in managing people-related tasks, such as managing workplace safety, implementing diversity and inclusion, and ensuring the well-being of all.
Local. From healthcare to service providers, you can find affordable and reliable solutions tailored to your business needs. For example, investing in a partnership with a telemedicine provider could offer your employees an added benefit for their well-being. It shows your genuine concern for their overall health and offering a virtual service that eliminates added fear of potential exposure through travel to a doctor’s office.
Partnering with a car rental service may extend another travel option for those in positions that require traveling. About 51% of American have canceled or postponed traveling due to COVID-19. While traveling is highly discouraged until the curve flattens, traveling by car – especially if traveling alone – will limit exposure to the virus compared to travel by plane. However, an infectious disease specialist stated that personal behaviors are more indicative of risk than type of transportation used.
Professional Employer Organization (PEO). Whether you find yourself asking, “What is a PEO?” or you’ve had a negative experience with one, please know that not all PEOs are the same! PEOs can provide valuable resources to strengthen your business’s productivity, growth, and revenue. From payroll, human resources, and employee benefits to risk, safety, and compliance, PEOs do the heavy lifting to streamline business efficiencies so you, the employer, solely focuses on integral business strategies to grow your successes.
If you’re looking for ways to implement stronger or develop new strategic partnerships, contact Human Capital.