Establish an action plan

There is no need to panic or overreact — instead, act reasonably and be prepared to react responsibly as circumstances change. Your plan may only involve restricting travel now, but may have to evolve to allow employees to work from home next month.

A company's response to the coronavirus outbreak should be dictated by the nature of its business activities, its geographic areas of operation and reach, and the spread of the virus itself. A manufacturing plant in rural Texas may not have to respond in the same way a hotel in San Francisco might.

Practice cleanliness and common sense

Amid all the noise, it is easy for common sense to give way to hysteria. However, experts agree that the coronavirus is transmitted much like the cold or flu. General cleaning, hand washing, and antiviral hand sanitizers can help prevent the spread of the virus.

Make common sense precautions a part of your plan. Ensure that common areas and restrooms in your workplace are being thoroughly cleaned. Make antiviral soaps and hand sanitizers available to employees and visitors. And most importantly, encourage employees to stay home if they are feeling sick or displaying any symptoms of illness.

Communicate

In any crisis, honest communication helps to quell fear and alleviate uncertainty, so take this opportunity to reach out to your employees. If you've established a plan, share it with them. If you've stocked the supply closet with Clorox wipes, let them know. And if you've yet to formalize a plan, simply assure your employees that you are closely monitoring the situation and that your team is prepared to respond if circumstances in your area or industry change.

Look for opportunity

It sounds distasteful, but it needn't be. 3M, the makers of surgical masks, have announced they will ramp up production to respond to increased demand. 3M didn't manufacture this crisis, but they are responding to it in a positive way.

Moreover, general practitioners and scientists in every media market are being interviewed as subject matter experts on viruses — these doctors probably never anticipated such publicity, but by sharing their expertise, they are providing a useful public service. Consider whether your company can provide a helpful product, service or resource.