Webinar: Back to Business After Covid-19
Avoiding Redundancies and Managing Cash Flow
Thursday 6 August 10-11am
About this event:
Joe Nicholls, Head of the Employment team at Wards Solicitors, says:
"Making people redundant can prove expensive for a business, especially at a time where cash is key, so using cash to pay redundancy packages can be counter-productive. Redundancies can be highly damaging to staff morale and motivation, which can have long lasting consequences. Consultations with staff are time consuming and at a time when the focus of those working should be on the business' recovery or growth, avoiding collective consultations with unions and employees could make a significant difference."
Joe discusses effective and practical ways to manage staff and resources at this particularly testing times and talks through any risks which you may have to consider.
Chris Walford, Partner at Albert Goodman says:
"As businesses start to reopen, managing cash will be crucial, particularly as the demand for credit to be extended to customers will no doubt be high.
It is important that you ensure the cost structure of your business reflects the anticipated performance, and you are able to identify both trading and funding opportunities."
Chris will talk through the importance of regular reliable management information, including accurate forecasting, monitoring and scenario planning. He will also explain the possible risks of incorrect cash flow management and missed trading and funding opportunities.