PEF Services In The News

Dear Valued Clients and Partners,

The COVID-19 virus pandemic has affected those most important to all of us – our families, our businesses, our communities, and our daily life. As we find ourselves adjusting to living in this time of uncertainty both personally and professionally, we hope that you, your loved ones and all those supporting our health and safety remain protected during this difficult time.

In addition to our ongoing operational communications, I’d like to share some thoughts and perspectives on navigating the health of our businesses and staying ahead of the issues that can arise.

I have been speaking with clients and industry partners about how we all can plan in these uncertain times. The consensus is:

• • Continue to plan, even though you know it will be adjusted daily
• • Communicate, it is important now more than ever that leaders are visible
• • Provide clarity in both

Below are some excerpts from communications regarding leadership that I found particularly helpful given the current situation.

Crisis Leadership Actions

Communication

There are few things scarier than silence during troubling times. If you don’t have one in place already, develop and communicate your business continuity plan for both inside and outside your organizations.

• • Talk to everyone: be “seen” with employees and customers.
• • Leaders walk the halls (virtual or otherwise) and calmly discuss future plans.
• • Look for successes to celebrate.

People

Develop messages to employees and proactively let them know you are considering all aspects of this crisis, both personally and professionally.

• • Remind employees of any options or assistance available to them beyond the paycheck [e.g. benefits programs, employee assistance and outside counseling through benefits programs].
• • Take this opportunity to fully utilize collaboration tools and keep your virtual workers engaged.
• • Find moments to create some levity and the in-person feel of your office (e.g. virtual “happy hour”).

Go Variable

Every company right now is thinking about their hiring cycles. It’s hard to hire if you can’t forecast. At the same time, the world needs to keep on rotating.

• • Think about going more variable with interim resources. You can adjust their schedules according to business needs without making long-term commitments, along with getting the optionality of try-before-you-buy. Also, look at outsourced solutions to shift non-strategic work to a 3^rd party partner.

As one colleague shared, “Be like a duck, stay calm on the surface, but paddle like hell underneath to plan and prepare to get ahead of this and win.”

Finally, as an update to our ongoing communications, PEF has a core team present in the NJ office (basic business functions and on premise equipment monitoring). The client service team transitioned remarkably well to remote work environments (we tested last week thankfully) and they remain focused on uninterrupted client service.

Our teams have been educated on the precautions recommended by the CDC to maintain their health (and that of their families). We are supporting them in any way needed.

Please continue to communicate with our teams through the existing communications methods.

We hope that you and your loved ones remain safe and healthy during this difficult time.

Please let us know if we can be of assistance in any way.

Anne

Anne Anquillare, CFA
CEO and President
________________________
PEF Services LLC
phone: 212.203.4681
Anne.Anquillare@pefservices.com
www.pefservices.com