Companies need to come up with convincing plans for post-Covid future

AS THE government aims to loosen movement restrictions, allowing for the gradual reopening of the economy as community transmission of Covid-19 falls, companies should be planning for a post-pandemic world even as they address near-term challenges.

It will certainly be a strange new world for many after months of inactivity or disrupted operations. Businesses may not be able to operate in the same ways as they did before the virus outbreak. But how can a company plan for a future in which the deadly virus will test every core assumption of yore? Not many companies appear to have the answers, citing the fluidity of the situation.

The Covid-19 pandemic has resulted in a painful economic downturn, not just here but globally. The Singapore government has implemented generous packages to support households and businesses. These have included the co-funding of workers' wages, with different levels of support for each sector. Altogether, Singapore will be committing an unprecedented budget of S$59.9 billion, or about 12 per cent of GDP, for its battle against the Covid-19 pandemic.