As a business owner during this COVID-19 pandemic, everything feels like it has become unstable and unsure. You are fighting to keep your business open, and to do that, you are fighting to keep your employees. It’s a seemingly impossible task right now as revenue and income streams dry up.
As of last week, over 16 million people in the United States had filed for unemployment insurance. Analysts say that number will continue to climb if businesses remain closed, start to close, or have to continue to furlough or let their valuable employees go. Even though there is a small ray of hope with the Paycheck Protection Program, which temporarily covers payroll costs, business owners are still fighting to keep their employees.
In an article from Best Company, they write about things to consider adjusting before making payroll cuts. One suggestion was joining IMS in the spirit of co-opetition.
Co-opetition is a collaboration between business competitors, in hope of mutually beneficial results. IMS embraces this as an alternative payment system that sells for you. Even your competitor can utilize services you offer that they can’t provide during this time.
But more than that, there are three main ways IMS can help you postpone letting go of your employees.
We know how important your business is to the economy, and more even important, the employees that work for you. We want to help you in any way we can.
To read about other ways IMS can help your company during this pandemic, check out our library of articles here. To learn more about IMS or to sign up visit www.imsbarter.com or give us a call at 800.559.8515.