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COVID-19 (Coronavirus)


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The COVID-19 (coronavirus) pandemic has disrupted daily life as we know it, roiled financial markets and instilled fear and uncertainty in many, challenging leaders in government and business to allay concerns and respond to the crisis. We are approaching the array of issues COVID-19 presents through the lenses of people, risk and capital, creating content daily in these three areas to help business better understand and manage the crisis.

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Willis Towers Watson Hong Kong

Insights

Quick access to all of Willis Towers Watson's coverage of COVID-19 (Coronavirus) insights and research.

Protecting people

Organisations are taking various precautionary measures with respect to the ongoing COVID-19 situation. Working closely with the HR community, we recognise the critical importance of staying abreast of such trends and practices to ensure our people’s wellbeing while managing business risks.

We are committed to supporting our clients through this unprecedented period and helping them manage many complex people issues around COVID-19. In order to help businesses navigate through some of these complexities and understand ultimately what this may mean for them, we have developed a range of resources providing timely insights on critical issues affecting organisations.



Managing risk

In terms of risk, the first question many are asking is, “Will my insurance cover losses associated with COVID-19?” Coverage depends on several factors, primarily the type of coverage, the nature of the loss and the policy itself.

But managing risk goes far beyond insurance. For example, how to handle employees who were overseas who would like to return home. When to encourage colleagues to go back into the office. And how to help protect essential employees who must work during the crisis.



Safeguarding capital

The COVID-19 pandemic has already had a deep impact on capital markets. And its long-term impact will not be understood for some time. Businesses should take a long-term perspective but be prepared for a recession, which is likely.  



Preparing for recovery

The COVID-19 crisis has only magnified and accelerated the fact that organizations are facing widespread uncertainty, ambiguity and transformation as we shift toward a more global and digital world. The way organizations lead and manage in this new normal is critical to business performance and their ability to remain competitive and relevant.

The organizations of tomorrow that will succeed must develop detailed business continuity plans, careful risk management and resilient workplace cultures. Organizations should examine operations and create scenario tests to validate their risk management and business continuity plans. At the same time, employees are expected to keep pace with the evolving workplace (in many cases virtually), adopt new technology and processes, update their skills and competencies, and stay engaged and productive.



Additional resources

For more information, consider visiting the following resources:

Insights

Quick access to all of Willis Towers Watson's coverage of COVID-19 (Coronavirus) insights and research.

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