Impact of growing Epidemic Covid-19 on Organizations and Businesses

Impact of growing Epidemic Covid-19 on Organizations and Businesses

The growing epidemic Covid-19 has rotten our world’s economy. With the epidemic covering the whole world we need to make sure that organizations take wise steps to ensure their employees, as well as businesses are safe. This Burnout has not only brought a freeze to normal human life but also a huge challenge to organizations.

With increasing security challenges, organizations are under a dilemma to have their infrastructures shut down. This is creating more management challenges as employees are unable to travel to the workplace. This social distancing is having innumerable challenges for organizations and employees. Company culture, leadership, employee experience, and digital workplace experiences are now being put to the test.

Cost of Burnout on Economy

As per the Business Insider news, “The annual cost of burnout to the global economy has been estimated to be $323.4 billion. Such costs have led to the World Health Organization predicting a global pandemic within a decade”. This Panic situation can also lead to a recession worldwide, which can be avoided if proper steps are taken at an early stage. This stressful stage if handled with intensive care and development of employees can easily scoop out the drowning economy.

The cost incurred due to occupational stress is also a major concern as detailed out in research. The research quotes

 “The cost to the economy related to workplace stress is far greater than those directly attributed to workers’ compensation. Indirect social cost of work stress has been linked to poor physical health outcomes, mental health problems, mental illness and unhealthy behavior”

Also, the understanding of work and stress is an important factor to determine the future of not just an organization but also the economy. 

Key Points to be followed by organizations

In this ‘Stage of Loss’ for all organizations, the need to be assured of a regular flow of work is a priority. Every organization might be thinking of cost-cutting due to the drowning economy, but this will only lead to more chaos and panic all around the world. By following simple steps and assuring basic checks a smooth run through this disastrous situation can be assured.

  • Engage employees in various activities to avoid stress. These activities can be inbound training which can be conducted online or other interactive meetings
  • Assure that the salary of all employees, affected by the pandemic is also credited on time. A gesture of trust might improve the psychological stress level of employees and lead to better performance.
  • Providing hardware requirements to the employees will ensure a smooth run to business.
  • To ensure all safety and security measures for employees by providing a smooth network to access work requirements.
  • Create a guideline for employees to be followed during work from home. Employee this training as mandatory for all employees on ‘Work from home ethics’

Work from Home Ethics

Considering the mental health of employees as well as the productivity of the business.

 Harvard Business review says “Mental health is becoming the next frontier of diversity and inclusion, and employees want their companies to address it. Eighty-six percent of our respondents thought that a company’s culture should support mental health”.

A set of guidelines in the form of an interactive video or document can be provided to the employees for their reference. There can be different guidelines to be covered under work from home ethics and culture that can be followed. Few are as below:

  1.  Preventing Unauthorized Data Disclosures
    1.  Being thoughtful while working on Public networks. Using only approved methods for securely accessing and transferring data
    2.  Confirm the accuracy of an email address and remove the unwanted recipients
    3.  Access and use the data necessary to fulfill the work requirement. Take a “minimum necessary” approach, and collect, use, or share only the data needed to accomplish the business purpose.
  2.  Report any unauthorized access to data: Associates or non-employee workers should report actual or suspected privacy or security incidents to the security team. The incidents would include any actual or suspected inadvertent sharing of data with authorized persons, including members of your household. Organizations can hire third-party security teams to access and monitor privacy issues.

Thus safeguarding the integrity and confidentiality of data will be the responsibility of the organization and its employees. Under such circumstances, organizations can provide a space for these personalities to work alone, where their productivity increases and creativity can shape-up a new future.

Also, organizations can work with employees, providing agile working conditions to help create a sustainable working culture and work-life balance, thus reducing the likelihood of burnout.