European companies with operations in Russia are doubly challenged. They must urgently make difficult decisions about whether and how to continue operating in Russia, including measures to help employees based in Russia, but also how to defuse rising emotional tensions among employees based across Europe.

Considerations of the human cost of these decisions are paramount. As we enter the third week of war in Ukraine, Human Capital Council members of The Conference Board with operations in Russia are moving from the first phase of immediate crisis management to a second phase of business contingency planning.

In discussions over the past two weeks, it’s clear that members are acutely aware of the importance of remaining true to corporate values and purpose. For example, as a healthcare provider, do you cease operations knowing this will mean withdrawing vital medicines or treatments from patients? These HR leaders are also aware that how employees are treated by their colleagues, managers and leaders during this time of crisis and conflict will shine a spotlight on the corporate commitment to equality, equity and inclusion principles, and whether it’s a lived experience for staff as well as a compass for business decisions.

The leaders stressed the importance of “doing right vs. doing easy” and avoiding short-term popular decisions, which might have unintended consequences. Operations in Russia comprise more than a third of regional turnover for some of our members, while others have thousands of employees based in Russia. Our panel of experts and practitioners will offer insights on the possible short-, medium-, and long-term effects of the current situation on supply chains.