The outbreak of COVID-19 has brought upon a standstill situation globally, affecting the lives across the globe in ways, more devastating than a world war. Well, according to the current hesitation of China in the matter of inspection initiated by the US in Wuhan; this idea is being re-established in a stronger way than before.
For this, a series of mandatory actions have been taken by the municipal and provincial governments supported by the Central Government, such as measures to restrict travels across cities, case detection and contact tracing, quarantine, guidance, and information to the public, detection kit development, etc.
Challenges such as lacking effective drugs, insufficient hospital services, and medical supplies, logistics, etc. have much alleviated with the solidarity of the entire society.
Early estimates of job losses in the Indian marketplace however will be in around crores. This will create a large vacuum in the job market leading to talent demand & supply inequity.
Arpit Soni (HR) DHFL, Indore; regarding the post-Corona effect on jobs stated: “In current scenario economical fluctuation is a common issue in all Sectors, this will directly cause an effect on sales, net profit and overall functioning of any organization. I think organizations will hold the recruitment part as it is a fixed expense for a particular time period because CTC of any employee includes different heads as well as perks for employees. Organizations should first focus on their new targets.”
This situation is bad for almost everyone, but the one suffering the most is the lower section of the economy.
Rajesh Gupta, Manager -Store Operation, Pantaloons Retail; “we got an insight towards employees are assets to the organization and HR Panel would obviously be against the lay-off, but in the situation of no income they will either have to deploy people or expect Government support, Occupancy cost – even Malls will face issue while giving the benefit to retailers.”
In fact, according to Nilay, Head HR – India Shelter Finance Corporation Ltd. “It is very likely that two crore new jobs will be created in the Indian market giving a sharp rise in the digitalization of services and the partial global shift in manufacturing base from China to India. One innovation is the creation of an employment exchange where companies have collaborated to create and share a common marketplace of available positions and laid off people. The acceptability of video resumes and interviews was already gaining ground in the pre-corona times and will gain even more currency.”
Talent acquisition has been centre stage in today’s organizations in which lockdown has caused a severe change in the acceptance and productivity of work from home, which has given entirely new definition to this side. In fact in that case the timing of work is more flexible, which initially was not acknowledged but now it is expected that there will be flexibility in work mode which can be used as a “win-win” situation for both employees and the company in many ways.
In words of Manmohan Singh, VP & Head- Training & Engagement, India Shelter Finance Corporation: “every negative situation opens up new ways/ opportunities to excel on. Same way, now organizations are looking forward to digital platforms/ ON-Line platforms for conducting their training programs and engaging manpower in a much more effective manner.”
In this pandemic, online classes have been a saviour in academics, it has also opened a doorway to telecommunication sector and importance of Internet.Alsodigitalization has reached its peak where even in village we have people making use of these app for money transfer or product purchase, which is enough to bring a greater revolution in digital sector.
Ashutosh Tiwari, Senior Sales Manager, CD finance, Bajaj Finserv Ltd says on this “losses of the daily average customer is around 300/day, as in coastal area this time the air conditioning system is very essential CD product to purchase, and the L.E.D market, effected by IPL, FIFA, and other events not happening, so we are losing the sales and are not able to add a new customer. As Instalments are not being paid, due to bounce protocol it is becoming difficult.
Where on one hand we see a rise in market of Telecommunication, on the other hand Vishal Saxena, Area Head, Reliance Industries Ltd. Shares his bad experiences, and says: “No physical moment is giving a lot of challenges as our service industry is linked majorly with hard Wares, mobile handsets, Sims etc. Our biggest challenge is education and making aware about importance of telecommunications to the Local Administration as many field staff people have been beaten by government officials. This would definitely change not only the way of working of telecommunication, but over- all change of daily working style.”
This is a challenging situation all across the globe, which is not just hitting physically, but economically and financially as well. Panic measures and pay offs are not solution to this, we cannot follow what other more developed economies are doing, because we lack the same means and knowledge, and it can rather become a challenging situation than a helping one. This needs to be understood by all the business firms, institutions and individuals.
At the moment we need to realise that the step one is to bring everything back to normal, only after this pandemic is controlled any further extension to lockdown can be avoided, and people can resume to their works.
Social Distancing is Important, “Please Stay Home and Stay Safe”.
