HR Dive: Coronavirus poses 5 major risks to employers.

The COVID-19 pandemic has caused major disruptions to the world. In particular, it poses five major risks to businesses: people risk, liquidity risk, supply chain risk, recession risk and business continuity risk.

With so many hurdles ahead, businesses need to prioritize and address different challenges in the near-, medium- and long term. For example, crisis management should be a key focus for companies in the next few months, while a post-crisis strategy will be needed for the long term to deal with any lingering effects of the crisis.

Whether it is an immediate or a long-term strategy, people should remain a primary focus for your company. According to an employer branding webinar hosted by Randstad, “employers that communicate well and in a transparent manner will build trust with workers that will serve them well after the immediate crisis has passed.”

Read more in HR Dive to learn about the other risks faced by businesses due to the coronavirus pandemic. You can also watch the recording of the webinar “employer branding in times of uncertainty” for more insights on delivering a total brand promise through the COVID-19 pandemic and beyond.