James River Capital is a Virginia-based alternative investment company established by Paul Saunders. For the last 25 years, the firm has provided top-rated entrepreneurial advisory services to its clients. Almost every investor felt the effects of the COVID-19 pandemic, and some ventures made massive returns during the pandemic.
However, James River Capital's CEO, Saunders, improved his management strategies to remain in business. Paul represents many other business leaders whose investments survived through their unmatched expertise in the industry. The beauty is that the situation has improved, and many countries have started to reopen the economies cautiously.
According to Paul Saunders, investors must create a safe and conducive working environment for everyone by facilitating teamwork and other professional management strategies. Business leaders should apply Paul's following tips despite the pressure of recovering time and losses incurred during the epidemic.
Make Safety a Priority
Paul insists that leaders remember that resuming business doesn't mean that COVID-19 is over. Therefore, they must ensure the employees' safety at all times. Provision of free personal protective equipment, including sanitizers and masks, to the staff should be mandatory. Allowing them to bear the cost increases the infection risks due to reluctance.The James River Capital leader also notes that the leaders should establish shift-working schedules to limit the number of employees on the premises at any given time. Additionally, businesses should have professional cleaners to avoid distracting the team. On social distancing, the leaders should adjust the working space by adjusting seats and installing plexiglass. Saunders points out that business leaders should allow employees to work from home if they wish to reduce transmission.
Improve Communication Skills
According to Paul, most employees feel their jobs are at stake despite resuming duties. Therefore, positive leaders should communicate frequently and reassure their safety. Additionally, leaders should update the team on safety policies regarding COVID-19. They might consider using email, pre-recorded clips through Vidyard and other platforms, or a socially distanced meeting. The updates and transparency play a critical role in motivating the team.Enhance Flexibility
As mentioned earlier, numerous companies and businesses must recover the time lost during the pandemic. Others are under pressure to supply products to their clients. However, Saunders advises business leaders to avoid directing the pressure on the team. By extension, they should exercise flexibility on deadlines and targets. Paul notes that the team needs time to gain momentum; hence, the leader should motivate them. For example, paid time off, financial and counseling support, and Telehealth services are excellent motivational initiatives.Empower and Entertain Employees
Positive leaders engage employees in decision-making processes, motivating them because they feel part of the initiative. During the COVID-19 season, creative leaders should establish an anonymous communication channel to enable employees to communicate comfortably.Saunders recommends a Slack channel operated by a human resources representative. On the other hand, leaders should motivate them through socially distanced parties, picnics, and other safe, fun-making moments to boost productivity.
