Business sustainability during the COVID -19 is becoming hard challenge worldwide. The wave of COVID-19 crisis have ravaged the entire World painting a bleak experience seen for the very first time in the history of human civilization. The world is standing at zero mobility, and we are learning the pattern of life being confined in the houses. essay service
Changing Pakistan’s economy landscape is no game!
In such pandemic crisis almost all the industrial sectors are trying their best to cope up and stay afloat with the challenges. If we consider Pakistan’s economy alone, the only sectors which are able to hedge against the existential threat are agrarian, public services, human health & social work activities, information technology and financial insurance based activities, where a major chunk of our workforce is currently employed. The good news is these sectors will thrive and will continue to work; the only dilemma is for the private sector where corporate giants and SME’s will be under the deal to perform the Herculean task of protecting the bread and butter of thousands of people who work for them.
Domestic markets will commence and kick off with a few bumps in couple of months, however it is the export based market which is ailing currently at an exponential rate. The tragedy is that the most of our Export market is based in USA and Europe which is undergoing major recession where we rely on almost 70% of our customers’ thus leading to a major detraction in the market of Export.
Humanness for Humanity- A reality check!
Keeping in view the situation of Local and international market the question arises how can Organizations extend Humanness for Humanity .In such crippling times sustainability would only surface if organizations are innovative enough to stand tall against such times .Maintaining the revenue is the answer to the structural fallings. This can be achieved by Exploring newer markets, different sectors of market to live by the pandemic times .The second most essential key is Cost management by curtailing the expenses, this includes the cost of the labour and Employees as well which employers will look forward to curtail .To deliver on the grounds of humanity organizations will have to adopt a systematic approach, in thought and deed and come up with formula to not lose it on salaries alone.
HR on a battle front- Make it or Break it
Role Of HR comes in to play when they are expected to re-think while entering in to an entirely different landscape of managing and optimizing upon workforce.HR plays a vital role in bridging gap between Management and Employees thus, they should come up with creative solutions to tackle the crisis before presenting workable suggestions to the management .Laying off may and may not be the ultimate solution provided to the organizations who are in state of utter panic and delusion. Organization instead of focusing on retracting employees should mend their approach for employ-ability .They can go for reduced salaries or deferred salaries for the months where organizations are equally suffering. Another creative solution could be to manage your teams on alternate working days by encouraging your employees to learn what their counterparts are doing to train them cross functionally even if for the initial days it means some extra work load for them.HR should strategize on logical grounds to make organizations put in efforts in the directions that are worth the squeeze.
Every coin has a flip side to it!
On a positive side COVID-19 has given emergence to myriad of innovative and digital platforms allowing organizations to WFH, to extend the same it has opened avenues for people to map on newer employment opportunities by working online in a lot of ways. This era is decisive and agile, if we are not compelled to change the pandemic times will leaves us in much remorse and jeopardy than ever before.
In nutshell, Business sustainability and continuity during the COVID -19 should not be much effected for those organizations which are not closed, if these organizations can go for HR digital transformation. This will help them managing employees remotely and will reflect the major change in employees productivity.