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LT Group earnings hit post-listing record

LT GROUP, Inc. reported record earnings of P23.12 billion in 2019, the highest since its re-initial public offering seven years ago.

In a statement yesterday, the holding firm of taipan Lucio C. Tan said its attributable net income last year was 43% higher from the P16.19 billion it recorded in 2018.

This is fueled by the robust growth in income across its businesses: P15.56 billion or 67% from its tobacco segment, P5.57 billion or 24% from its banking segment, P896 million or 4% from its property segment, P667 million or 3% from its spirits segment, and P398 million or 2% from its beverage segment. The remainder is the P251 million from LT Group’s stake in Victorias Milling Co., Inc.

Broken down, net income from the tobacco business grew 78% to P15.56 billion. This was traced to the price increase implemented in late August 2019 and the growth in market share of its premium Marlboro brand. It noted that volume dipped 3% last year.

Banking unit Philippine National Bank posted a net income of P9.94 billion under the pooling method. Core net income was up 61% to P9.51 billion, which excludes non-recurring gains from real and other properties acquired in 2018.

Earnings from property unit Eton Properties Philippines, Inc. reached P900 million, up 88% from the previous year. It focused on expanding its leasing portfolio, closing 2019 with 181,000 square meters of office space and 43,500 square meters of retail space.

The spirits business under Tanduay Distillers, Inc. saw a 26% drop in net income of P676 million, of which P667 million is attributable to the LT Group. The decline was attributed to the slightly lower margins from higher alcohol costs and interest expenses.

Earnings of beverage segment Asia Brewery, Inc. hit P398 million, 5% up from the previous year. It was driven by higher volumes of energy drinks, bottled water and soymilk sold last year.

Shares in LT Group at the stock exchange closed 95 centavos or 14.73% down to P5.50 each yesterday. — Denise A. Valdez

Alsons income up 67%

MINDANAO-BASED Alsons Consolidated Resources, Inc. saw its attributable net income jump by 57% to P148 million in 2019 after a slight growth in revenues, the Alcantara-led holding firm said on Thursday.

Consolidated income rose by 67% to P939 million. Revenues slightly rose to P6.8 billion.

The revenue and income increases continued to be driven by Sarangani Energy Corp., its 210-megawatt (MW) coal-fired power plant in Maasim, Sarangani province. The power plant serves around six million customers across the island.

With four power plants, Alsons has a total capacity of 468 MW, catering to over eight million people in 14 cities and 11 provinces in Mindanao.

The company is building its first renewable energy power plant, a P4.5-billion 14.5-MW hydroelectric power plant in Sarangani, and a 105-MW coal-fired power plant project under its unit San Ramon Power, Inc. in Zamboanga City. Both projects are expected to become fully operational by 2022 and 2023, respectively. — Adam J. Ang

GMA news channel suspends airing

GMA News TV (GNTV) has “temporarily signed off” due to the state of national calamity amid a novel coronavirus disease pandemic.

“Due to the state of calamity, GMA News TV is temporarily signing off. Please stay tuned to GMA for all news updates,” GNTV said in a statement on Thursday.

In a social media post on Wednesday night, GNTV’s news anchor Raffy Tima said: “No Balitanghali and State of the Nation With Jessica Soho starting tomorrow (March 19) until further notice as GMA scales down its operation for the duration of the lockdown.”

In a news release, GMA Network, Inc. said all its employees will be receiving their full salaries and the cash equivalent of their rice benefits.

“These are on top of the year-round medicine allowance and health card benefits accorded to all regular employees and their eligible dependents,” the media company said.

It also said that its talents and project employees will still receive their salaries on March 25 and 30, 2020, respectively.

“A cash advance will be made available for them for their April 10 and 15 pay-outs,” the network said. — Arjay L. Balinbin

Time spent streaming spiked 20% worldwide this past weekend

FOR years, TV executives have fretted there is too much TV. Now, with the coronavirus looming large, they are worried there might not be enough.

Because of the pandemic, streaming surged this past weekend, according to Wurl Inc., a company that delivers video and advertising to connected TVs. The amount of time people spent streaming spiked by more than 20% worldwide, including more than 40% in Austria and Spain.

While streaming services haven’t commented on any increases in traffic, researchers are seeing more activity in places like Netflix Inc. and Twitch, the online gaming network owned by Amazon.com Inc. Installs of the Netflix app leaped 34% last week in Spain and 57% in Italy, according to SensorTower. Italy has the second-most coronavirus cases worldwide, after China.

“While video streaming is far from the most important thing on the world agenda, it is an industry that indirectly will see a major shift due to the crisis,” said Sean Doherty, Wurl’s chief executive officer.

Driving that growth is the collapse of many leisure and entertainment activities because of the virus, from restaurants and movie theaters to professional sports and concerts.

The swift expansion of streaming use comes with some challenges. Austrian regulators are considering suspending neutrality rules to let network operators throttle Netflix bandwidth, after a rise in data congestion complaints from people working at home, an Austrian newspaper reported.

Media companies have torn up their normal strategies to satisfy growing demand for programming from people stuck at home. Universal Pictures, the studio division of cable giant Comcast Corp., will offer three movies for rental at home before they leave theaters, while Walt Disney Co. released Frozen 2 on its streaming services months ahead of schedule.

PRODUCTION HALTED
While viewing of live TV is also on the rise thanks to 24/7 coverage of the virus outbreak and more people being stuck at home, production of most TV shows and movies has halted for the foreseeable future, creating a potential shortage of new programming.

Streaming services are in a good position because consumers look to them for their libraries of titles on demand — not a live feed — and they have already banked programs for release in the weeks ahead.

Traditional TV networks must be on the air 24 hours a day, and outlets such as CBS, Turner, and ESPN have scrambled to replace the live sports that have gone on hiatus.

That’s opened the door to unconventional forms of programming, from marble rolling to live in-home concerts. Singer John Legend performed from his home Tuesday, streaming live on Instagram for an audience that reached almost 100,000 people.

STREAMING OF GAMES
One industry that may face minimal disruption from the pandemic is video games, which participants have long enjoyed and played without being in the same place.

The audience at Twitch, which lets viewers see gamers compete via livestreams, has increased 10% in the past few days, according to Doron Nir, CEO of StreamElements, a provider of tools and services to the industry. And YouTube Gaming is up 15%, he said.

“With more stay-at-home mandates being issued around the world and the entertainment industry finding new ways to migrate their offerings to livestreaming platforms, we expect to see these numbers rise,” he said in an e-mail.

David Steinberg, who is 27 and streams himself playing video games, saw an influx of viewers in recent weeks as more people have been staying home.

“Now that sports are canceled — NBA, PGA — they are just out of stuff to watch,” he said. “I am a one-man army here in my basement and I can still create content. And with so many people looking online — especially on Facebook, where they check how is their family is doing — it’s been good.”

An increase in viewers could translate into more revenue from advertisers or sponsors looking to reach that captive audience, unless, that is, those companies tighten their belts, too. Steinberg says his total audience across sites like Facebook and YouTube is 3.5 million.

“I’ve gotten thousands of messages from people,” Steinberg said. — Bloomberg

Companies warned on virus patient’s privacy

THE National Privacy Commission (NPC) has warned companies against disclosing the identities of employees under investigation or confirmed positive for the new coronavirus disease 2019 (COVID-19).

In an information sheet released to the press on Thursday, the commission said companies can collect employee data, but added that companies may only collect what is necessary.

“Once collected, reasonable and appropriate safeguards should ensure the security of the forms and personal data contained therein,” it said.

Employers may collect data elements such as name, contact details, and travel history, only as needed by the Department of Health (DoH) for contact tracing. NPC encourages companies to coordinate with the DoH, and to give employees’ privacy notices informing them of the purpose of the data collection. It said contact tracing should be done only upon the authority, guidance, and instruction of the DoH.

Companies should only disclose personal data to the DoH and other relevant agencies, NPC said, adding that announcements to the public should come from the DoH instead of company press releases. The commission added that companies may make internal notices that an employee has been tested positive for COVID-19, but should not disclose the identity of the patient except to DoH personnel.

“Revealing the identity of the COVID-19 patient offers no benefit to the patient nor any advantage to other members of the company in assessing their exposure,” NPC said.

NPC said that the DoH should weigh potential harm to the patient and to trust in medical institutions if information is disclosed against potential harm to the public if information is not released. — Jenina P. Ibañez

ECB launches new bond purchases worth €750 billion to stem coronavirus rout

FRANKFURT — The European Central Bank (ECB) launched new bond purchases worth €750 billion at an emergency meeting late on Wednesday in a bid to stop a pandemic-induced financial rout shredding the euro zone’s economy and renew concerns about the bloc’s viability.

With much of Europe in lockdown amid the coronavirus outbreak, economic activity has come to a near standstill and markets have been in a tailspin, foreshadowing a deep recession on par with the 2008 global financial crisis and raising questions about the euro zone’s cohesion at times of stress.

Under pressure to act to bring down borrowing costs for indebted, virus-stricken countries such as Italy, the ECB launched a new, dedicated bond-purchase scheme, bringing its planned purchases for this year to €1.1 trillion with the newly agreed buys alone worth 6% of the euro area’s gross domestic product

“Extraordinary times require extraordinary action,” ECB President Christine Lagarde said. “There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate.”

The bond purchases will continue until the “crisis phase” of the epidemic is over and nonfinancial commercial paper will also be included for the first time among eligible assets, the ECB said.

The euro rebounded after the announcement and was last up 0.16% at $1.0929 and Asian stock markets stabilized.

Although it will still buy government bonds according to each country’s shareholding in the bank, the so-called capital key, the ECB said it would be flexible and may deviate from this rule.

This was seen as a hint that it will not tolerate the surge in yield spreads between euro zone members seen in Italy and Greece in recent days.

The purchases will also include for the first time debt from Greece, which has been shut out of ECB buys because of its low credit rating.

Crucially, the ECB said it was prepared to increase the size and duration of its purchases if necessary and review any constraint that stand in its way — a likely reference to a cap on owning more than a third of any country’s debt.

“Provided the fiscal response continues to build up, this looks like a game-changer for the euro area economy and markets,” Frederik Ducrozet, a strategist at Pictet Wealth Management, said.

However, the ECB left its minus 0.5% deposit rate unchanged just as it did last Thursday, another sign that policy makers may now see a further cut doing more harm than good.

Meeting in a regular session last Thursday, the ECB approved a large stimulus package but the measures disappointed investors, prompting some to question the bank’s commitment to former ECB boss Mario Draghi’s pledge to do “whatever it takes” to save the euro.

With bond yields on the bloc’s periphery soaring and the spread between Italian and German ten-year debt doubling in just a few days, pressure has been mounting on the ECB to do more.

Panic selling pushed 10-year Italian yields above 3% briefly on Wednesday, raising concerns about the sustainability of its debt, before ECB purchases and verbal intervention pushed it back to around 2.3%.

Additional measures from Frankfurt may not of course fix the issue just like aggressive rate cuts and far greater bond-buying by the US Federal Reserve haven’t calmed sentiment.

US stocks deepened their sell-off on Wednesday and the Dow erased virtually the last of its gains since President Donald Trump’s 2017 inauguration, as the widening repercussions of the coronavirus pandemic threatened to cripple economic activity. — Reuters

With theaters dark, Sony to release Bloodshot for home viewing

WITH major movie theater chains closed, Sony Corp. will release its Vin Diesel action film Bloodshot to at-home viewers this month, becoming the second studio to break with the decades-long practice of giving cinemas exclusive rights to new movies.

The film will be available for $19.99 to customers on March 24, Sony Pictures said Wednesday, 11 days after it premiered in cinemas and more than two months before it would normally be available online.

Coronavirus has caused a broad shakeup in the movie industry — most theaters in the US are closed indefinitely to prevent the pandemic from worsening. That’s financially squeezed cinema owners and studios that sink millions of dollars into making and marketing films. What’s unclear is if the changes caused by the virus will be permanent.

Sony insists its decision is a one-off, tied to the closings of theaters. But it’s the second major studio to announce such a move. Earlier this week, Comcast Corp.’s Universal Pictures said it would make Trolls World Tour accessible to home viewers the same day it premieres in theaters.

“Sony Pictures is firmly committed to theatrical exhibition and we support windowing,” said Tom Rothman, chairman of Sony Pictures’ film group. “This is a unique and exceedingly rare circumstance.”

Bloodshot is about a soldier killed in action and revived by the US government for nefarious purposes. It’s based on the Valiant comic-book character.

The film was initially expected to generate up to $17 million in opening-weekend ticket sales in North America, before the coronavirus was a global pandemic. It sold $9.3 million in tickets.

Theaters have been among the big losers in the bear market, with their stocks down two or three times more than the broader averages. — Bloomberg

Job losses could surpass 2008 financial crisis unemployment levels

NEARLY 25 million jobs and $3.4 trillion in income could be lost in the worst-case scenario due to the COVID-19 (coronavirus disease 2019) pandemic, an estimate which exceeds the job losses resulting from the 2008 subprime-mortgage crisis, the International Labor Organization (ILO) said.

According to an ILO assessment contained in its “COVID-19 and the World of Work: Impacts and Responses” report issued March 18, global job losses could be between 5.3 million under the “low” scenario and 24.7 million in the “high” scenario from a base level of 188 million in 2019.

The subprime mortgage crisis “increased global unemployment by 22 million,” ILO said in a statement Thursday.

Underemployment is also expected to increase, with the ILO identifying significant adjustments in salaries and working hours as the trigger.

For the Philippines, the ILO cited the projections of the National Economic Development Authority (NEDA) of 30,000 to 60,000 job losses due to COVID-19 related factors.

The Philippines announced a Luzon-wide enhanced community quarantine following a spike in cases of community-transmitted COVID-19 infections. Most industries have been advised to close shop for a month or adopt telecommuting, with mandatory home quarantine for most residents except for those in exempted industries delivering essential goods and services.

Lost worker income could total $860 billion on the low end of the scale and $3.4 trillion on the high end.

For workers who fall ill, the ILO said: “Labor supply is declining because of quarantine measures and a fall in economic activity. At this point, a preliminary estimate (up to 10 March) suggests that infected workers have already lost nearly 30,000 work months, with the consequent loss of income (for unprotected workers).”

ILO recommends that countries, governments, and businesses adopt strategies to ensure both the health and economic state of their workers, requiring “large-scale public support and investment.”

For the economy, the ILO added that there should be “large-scale and coordinated policy efforts” to provide needed assistance and employment especially with the virus potentially causing long-term damage.

“These measures not only cushion enterprises and workers against immediate employment and income losses, but they also help prevent a chain of supply shocks (e.g. losses in workers’ productivity capacities) and demand shocks (e.g. suppressing consumption among workers and their families) that could lead to a prolonged economic recession,” the ILO said. — Gillian M. Cortez

Unioil offers discount to frontliners

UNIOIL Petroleum Philippines, Inc. is giving a fuel discount to health care workers, police and military personnel and local government units starting on Thursday, the oil company said.

“Unioil thanks and salutes all heroic frontliners who are working tirelessly amidst the COVID-19 pandemic,” it said.

The covered fuel products and the discount are Euro 5 Diesel at P2.50 off per liter; Euro 5 Gasoline 91 at P3.00 off per liter; and Euro 5 Gasoline 95 and 97 at P5.00 off per liter. The frontline personnel can avail of the price cut at participating Unioil stations. They just need to present their PRC License/ID.

Unioil is engaged in fuels trading, lubricants blending and distribution, specialty oils marketing, and distribution of bitumen.

Business and life after COVID-19

Since Monday after the President’s announcement of the lockdown, I’ve worked from home — had a video call meeting with business executives from nine Asian countries, conducted my graduate school class using an online collaboration tool, and electronically met with some clients and partners.

Business and life will never be the same after COVID-19. For 30 days from the start of the Luzon lockdown in Philippines, residents of the largest island of the country as well in key cities will be living their lives and conducting their business differently. We’re already seeing how this dire situation is affecting the way we work, communicate, worship, buy, bank, learn, play, and even consult with doctors.

Digital means are obviously the way to go to conduct our lives during these times. Tech companies are leading the way, offering free use of their applications for several months. For a limited period, companies like Microsoft, Zoom, Google, and Cisco are giving away the use of their communication and collaboration tools for workers and employees working from home to still conduct their job functions. Social media is rife with posts showing managers and employees meeting online.

FB Live and IG Live have already witnessed a two-fold increase in usage over the last few days, as told by Mark Zuckerberg in his recent IG Live. He said that health care workers are using FB Live to communicate with patients, doctors, and love-ones of patients.

Technology has also caught up with the way people worship. Catholic bishops responded to the government policy by deciding to set up a live stream of Holy Mass celebrations instead of opening churches’ doors until April 14.

In financial services, local banks have been heavily promoting their digital banking apps in social media. In my company, we have deployed GCash to all of our remote workers for ease of money transfers.

In the area of learning, companies and institutions have stepped up to provide free elearning content and access to learning management systems. US-based elearning firm, Cypher Learning, is making its platform free for 30 to 60 days locally to schools and organizations wanting to convert their traditional face-to-face learning to digital. Another US-based online learning platform, Coursera, is making its 3,800 courses available globally at no cost to any university impacted by COVID-19. More than 700 textbooks have been made freely available online by Cambridge University Press until the end of May this year to help affected students.

Apps for entertainment are likewise seeing huge jumps. First-time installs of Netflix’s app were up more than 50% across the globe according to reports. Other entertainment apps are also seeing tremendous growths in usage.

But the multifold jump in the use of digital platforms and apps all over the world has resulted in the clogging of the internet and telecommunications networks, which are not ready in the crisis we’re facing. This has worsened the already-sorry-state of internet in the country.

But technology itself has its way of addressing such limitations through innovation. One such innovation is from global tech firm, NetFoundry, which renders the slow and tradition virtual private network (VPN) obsolete, by optimizing how work-from-home workers use apps over the internet and cloud. This will usher the world to a new and faster way of communication and collaboration in the age of remote work and elearning.

With improvement in connectivity, lies increased demand and faster improvements in others. Advancements in augmented reality and virtual reality (AR/VR) will accelerate to make virtual meetings and online learning richer and more effective. Organizations will likewise accelerate their move to the cloud to enhance their business continuity plans and access to apps for remote workers. Digital banking, online shopping, and last-mile logistics will become more ubiquitous

In the coming months, people and organizations will forced to adopt digital technologies to conduct their businesses and everyday lives. This will be the new normal.

 

Reynaldo C. Lugtu, Jr. is CEO of Hungry Workhorse Consulting, a digital and culture transformation consulting firm. He is the Country Representative of the Institute of Change and Transformation Professionals Asia (ICTPA) and Fellow at the US-based Institute for Digital Transformation. He is the Chairman of the Information and Communications Technology Committee of the Financial Executives Institute of the Philippines. He teaches strategic management in the MBA Program of De La Salle University. The author may be e-mailed at rey.lugtu@hungryworkhorse.com

Stuff to do at home

With everyone under enhanced community quarantine for the next four weeks due to the outbreak of COVID-19, here are a few activities to keep you entertained and productive in the comfort of your own homes.

Learn at home with Scholastic

Scholastic is offering free online courses for levels pre-kindergarten to Grade 6. The duration of the courses are approximately three hours per day. The courses include writing, research projects, and virtual field trips. The website is accessible on any device. Visit https://classroommagazines.scholastic.com/support/learnathome.html.

Free operas streaming online

OperaWire will host Nightly Met Opera Streams of the Metropolitan Opera for free. The performances begin at 7:30 p.m. EST and will be available to stream for 20 hours. Visit https://operawire.com/metropolitan-opera-to-offer-up-nightly-met-opera-streams/. The Paris Opera is also streaming operas for free beginning March 17. Visit https://www.operadeparis.fr/.

Free films on YouTube

Catch your favorite films for free on the following channels: Regal Entertainment (https://www.youtube.com/user/regalcinema/featured); Cinema One Originals (https://www.youtube.com/channel/UCzggCZVkynvnjNV29L9EccA); and TBA Studios (https://www.youtube.com/channel/UChh0rmwGvToBd3owvN2vRMg).

Free online courses

Take one or more of the 1,500 free online courses leading universities such as Stanford, Yale, Harvard, and other are offering. Download the audio and video courses (from iTunes, YouTube, or university web sites). Topics include archeology, art, finance, writing, law, health, religion, mathematics, and personality development. Visit http://www.openculture.com/freeonlinecourses.

Online yoga classes

YogaPlus offers daily yoga classes via Facebook live. For schedules, visit https://www.facebook.com/yogaplusph/.

Free Broadway shows online

Enjoy your favorite Broadway performances online for a limited time at https://www.broadwayhd.com/.

Virtual tours

Explore museums around the world through virtual tours: the Solomon R. Guggenheim https://artsandculture.google.com/partner/solomon-r-guggenheim-museum?hl=en; the Smithsonian National Museum of Natural History (https://naturalhistory.si.edu/visit/virtual-tour/current-exhibits); the Louvre Museum (https://www.youvisit.com/tour/louvremuseum). View animals such as otters, penguins, turtles, and corals on live camera at https://www.montereybayaquarium.org/animals/live-cams.

Productive approaches for workers during Covid-19 lockdown

Our small business can’t be operated through flexible working arrangements like work from home, especially now that we have an Enhanced Community Quarantine on Luzon. Our workers reside in various areas and the strict implementation of the lockdown makes it impossible for us to continue without workers. Therefore, what would you advise us to ensure that all of us remain productive during the 30-day period? — Anxious Apple.

Any shoe salesman will tell you of one important challenge in selling: “If the shoe fits, the customers wants another color.” That’s because there’s no such thing as one size fits all. Tailor-fitting is as imperative as breathing, eating, playing, working, and of course praying, among other essential things. So, if you think a work from home scheme is not applicable in your case, then so be it.

To a certain extent, you have to take care of your workers in these trying times. Many of them are minimum wage earners. Of course, your management action will be dictated by your company’s capacity to pay adequate compensation to the workers. Before you do anything, be guided by the latest labor advisories issued by the Department of Labor and Employment so that organizations can survive COVID-19 and provide safety nets to the workers.

These advisories are Department Order No. 209 or COVID-19 Adjustment Measures Program (CAMP) that entitles qualified workers to receive P5,000 each and Department Order No. 210 or Tulong Panghanapbuhay sa Ating Displaced/Disadvantaged Workers (TUPAD).

So, what can you do under the circumstances in addition to these labor advisories? As I said, it depends much on what your organization can afford. If the employees don’t have enough leave credits and you would want them to remain productive at home and be paid at the same time so you can display management magnanimity, I am recommending practical and low-cost approaches suited for a small business like yours.

THREE PRACTICAL APPROACHES
Peter Drucker was right: “Until we can manage time, we can manage nothing else.” This means everyone has enough time in their hands now, at least for the next 30 calendar days. Whether it’s good or bad days, let’s think of ways we can make each day productive for the workers and the whole organization.

Ask and answer the following basic question: How do we manage the employees’ time, so they come out motivated, inspired, and refreshed with new ideas when they report back for work? Here are some practical ideas:

One, require all employees to enroll in free online courses. Yes, you read it right. There are many “free” online courses. The Internet offers an ocean of courses that cover almost the entire gamut of disciplines — from business, marketing, technology, even data science. In fact, Harvard University offers free courses via edx.org. These courses are self-paced and the candidates can choose to receive “a verified certificate for a small fee.”

Another institution that I’d like to recommend on free online programs is the Asian Productivity Organization (APO) at eapo-tokyo.org. For your type of business, APO offers an open, sophisticated course on Management of Innovation in SMEs. Aside from that, you may consider topics on Critical Strategic Foresight Tools for Sustainable Productivity and Basic Smart Manufacturing 101 in a Blockchain-driven Era.

However, if you think that Harvard and APO are too high-end, if not too challenging, for your employees, you can recommend online courses through TESDA (Technical Education and Skills Development Authority). TESDA at e-tesda.gov.ph offers free basic vocational courses like automotive, electrical and electronics, entrepreneurship, health care, information and communication technology, among others.

TESDA also offers the latest program on basic competencies in “21st Century Skills” covering Environment Literacy and Workplace Communication.

Two, require employees to identify and solve operational problems. Again, using the Internet, you can find many instructional materials on how people and organizations may solve issues in the workplace. These issues may include poor product quality, low labor productivity, or the high cost of doing business. If you know me from Adam, you may well understand that I am a firm believer in Kaizen, Lean Management and its branded equivalent like the Toyota Production System.

Forget about Six Sigma. It’s a complicated tool for many people. For one, it uses many statistical tools that are frowned on by many. Two, if you follow the Six Sigma approach strictly, you may not be able to complete your projects before the lockdown period.

Using a form like the A3 problem-solving worksheet (a template can be found in the Internet), your management and the employees take a uniform approach to identifying problems and generating solutions. Whatever it takes, you can start or restart doing continuous improvement. And the “best time to practice Kaizen is when we are in crisis mode. Start from the need to survive,” according to Japanese expert Jun Nakamuro.

Last, reward employees who choose one or all of the above options. Whatever one chooses, your management must agree to employee proposals before they are entitled to any reward. Assuming that your employees don’t have enough leave credits, I suggest paying those concerned their one-month salary, at least for their minimum reward. That is, if they can finish the course or courses subject to the condition that they secure the certificate, if not pass the written exam to be administered by your human resource department, in collaboration with Harvard, APO, or Tesda.

Another option is for your employees to design a plan or a road map on implementing their findings for the benefit of your organization. Try to estimate the concrete results that could come out of these programs and recognize your workers accordingly.

BUSINESS CONTINUITY PLANNING
Crises can happen anytime. To a great extent, your reaction will be dictated by the nature of the crisis. However, your organization should always be ready to meet any unforeseen emergencies. This can only happen if you have a dynamic business continuity plan that you can use as a general guide.

It’s important for any organization to have such a plan that can be modified annually depending on actual situations and other emergencies like a super typhoon, mass transport strike, labor strike, a major client’s factory closure, or a pandemic. Once you have a plan that contains general guidelines, it will be easy for your organization to manage any crisis that may come your way.

ELBONOMICS: All good and bad days should always result in higher productivity.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

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