How Businesses Can Combat A COVID-19 Struck Economy

COVID 2019 which has been declared as a pandemic by the World Health Organization has given a severe blow to the world at both social and economic levels. As per the recent records, the disease has infected about 1920000 people globally, out of which about 1, 20,000 people couldn’t survive. India alone has about 10000 cases that have tested positive to the disease, with a death count of 339! The disease which is spreading at a faster rate has no cure or vaccination yet. The only solution left to combat the invisible enemy is ‘social distancing’. The government of almost every country has declared lockdown, which is an emergency protocol that restricts individuals from leaving a given area.

Understanding COVID-19- The Culprit behind the Chaos

Being safe and cautious is the only thing we can do as of now. For this it is important to understand what causes COVID-19 and the precautions that are necessary to be exercised. The novel virus which is behind this deadly pandemic belongs to the Corona family. It is a respiratory illness which is transmitted when an infected person coughs or sneezes, and the respiratory droplets comes in contact with an uninfected person. An individual can also be infected by coming in contact with a contaminated surface. The symptoms are sore throat, cough, fever and difficulty in breathing. As the disease is highly communicable just like the common flu, and no cure has been developed yet, it is important to understand the seriousness of this situation. If we do not break the chain by isolating ourselves at home, the disease might prove a threat to mankind causing a permanent damage to our future.

How to remain safe?

The pandemic has proved itself fatal, especially for those infected people who belong to one of these categories. These are the older people, children and those who have any underlying medical condition such as diabetes, heart disease or cancer. Some safety measures suggested by WHO are as follows:

Maintain social and physical distance

One should maintain a physical distance of at least one meter from the person who is coughing or sneezing. WHO is also encouraging people to stay indoors as much as possible and avoid mass gatherings in order to prevent the disease from spreading?

Wash your hands frequently

This is the most basic sanitary etiquette that is needed to be followed as you never know which surface is contaminated.

Practice respiratory hygiene

Since the disease spreads through respiratory droplets it becomes really important to practice basic respiratory etiquette which covering of mouth and nose while coughing or sneezing.

Also read – Socially distanced yet together in fighting against COVID-19

Economic Impacts of Coronavirus Disease

Besides causing social unrest, the pandemic has damaged the economy a big deal. The outbreak is likely to generate a global economy slowdown, if not recession. A reduction in global GDP growth is estimated for the year 2020. With continuous increase in the number of cases, movement restriction and social distancing has been adopted as measures to contain the disease. In doing so, the aviation, railway and the tourism industries have faced the first and the hardest hit. With both the workforce and the customers restricted to homes, the consumer demand has decreased which has further affected the supply chain. Given the current environment of uncertainty and fear, enterprises have delayed investments, purchases of goods and hiring of workers.

Research says that COVID-19 has impacted negatively on the world of work. The informal or the daily wage workers have been affected to a great extent. Unemployment has increased and the quality of work has been compromised. Recovery can only be expected if there is a decrease in the case growth. Till then businesses big or small, which are struggling to survive in this phase of adversity, need to resort to business continuity plans while safeguarding their employees against the effects of COVID-19.

Remote Working: The New Business Strategy

Assessing the present scenario, where millions of people are locked down in their homes, there is no better option than Remote Working. Work from home will not only ensure business continuity but also the safety of the employees. At present it is the only solution, which has its own set of restrictions. With time the businesses will have to carve out plans to make remote working more fruitful and productive.

The businesses can provide a working environment in order tom make remote working efficient.

• A proper work routine should be planned out with breaks in between every two to three hours to enhance creativity and productivity.

• Since working from home can be new and unnerving for many employees, proper virtual communication channels should be created so that the employees are engaged throughout the working hours.

• Personal interaction among the workforce in the hour of crisis is also very important to reduce stress and monotony. To ensure this the employees should remain connected through virtual meetings, telephonic interactions, video conferencing etc.

With the unpredictability of the current situation, it is quite possible that remote working becomes the game changer in the corporate world.

How Webuters is handling the situation?

Being responsible and following the guidelines sketched by our government is the first thing we as a team are doing to fight against the disease. Following the instructions of the government which has imposed lockdown in the country in order to reduce physical interactions, we have adopted a work from home policy for business continuity.

These are the following set of actions we have adopted to combat the issues that have resulted due to COVID19:

We are constantly working on solutions to navigate this uncertain and fast changing situation. To remain connected we make the maximum use of advance communication platforms. Efficient team management is being carried out by using tools like JIRA and DEVOPS.

To address monotony in work the Webuters family is connected through video conferencing using Skype. Other video conferencing tools employed to carry out regular project meetings are Zoom and WebEx.

Workstation related problems are fixed using VPN and ANYDESK. We have not compromised the quality of services we offer to our clients. Our workforce is continuously working hard and is determinant to face the COVID challenge together.

We are effeciently using virtual channels so that we don’t lose connectivity with our clients. We are prepared to address the needs and queries with those associated with us. Our team has always believed in providing efficient service and continues to do so in the hour of crisis.

Business Continuity and Recovery Plans amidst COVID19

As per the ILO reports, Preparedness at all levels is essential to mitigate impacts and increase resilience, protecting jobs, enterprises and livelihoods. Following are some measures which a business (small or big) can adopt for a speedy recovery from the crisis:

• Understanding business priorities: The economic shock caused due to remote working, the businesses will have to optimize the assets available. For this understanding of the business priorities is vital.

• Focusing on key products and Services.

• Identifying and managing risks by establishing response plans.

• Protecting the workplace and workforce.

A Positive End

“In every adversity lies the seed of an equal or a greater opportunity.”- Napolean Hill

Humankind has always worked out a way to overcome any adversity irrespective of its intensity, so it will this time. Our Doctors and nurses are continuously working day and night to selflessly serve the people affected by the disease. The researchers are trying hard to find a vaccine and cure for COVID19. Our security officers are at our service to maintain and follow the government guidelines. Let us not waste their precious efforts and join hands with them to overcome this phase of adversity. Let us pledge to remain safe and healthy for the sake of our present and coming generation.