By: Matt McDonald, Bryan DeAngelis & Christina Pearson,

On the latest episode of HPS Insights, HPS Managing Director Bryan DeAngelis hosts Partner Matt McDonald and Managing Director Christina Pearson to discuss the coronavirus’ impact on business.

As more firms shift to virtual operations in response to the virus, the group shares HPS’ decision-making process for remote work, thoughts on maintaining office and company culture while working from home, and tips for effectively managing teams in this new environment. The three also spoke about the short- and long-term business impacts of remote work and offered advice on how to best plan and navigate moving forward.

“This is a moment of truth for companies and individuals,” said McDonald. “It’s hard in a crisis to think about what we’ll be doing in six months,” he noted, but it’s important that businesses continue to practice long-term planning.

Pearson, who previously worked as Assistant Secretary of Public Affairs at the U.S. Department of Health and Human Services, shared that she is focused on expressing “gratitude and empathy more” and “spending time reaching out to create personal connections.” She added, “one of the most important things managers should be doing right now is thinking about creating camaraderie and lifting spirits.”

On HPS’ relatively early decision to switch to remote work, DeAngelis noted that the firm has a “head start,” and HPS is now able to better support its clients in their transition periods.

HPS Insights is a new podcast series from Hamilton Place Strategies that analyzes current events and policy topics impacting the business and political communities.