Is COVID-19 a Boon or Bane?
Blog: NASSCOM Official Blog
“Change is the law of the universe. What you think of as death, indeed life. In one instance you can be a millionaire, and in the other instance, you can be steeped in poverty. Yours and mine, big and small-erase these ideas from your mind. Then everything is your and you belong to everyone”. – By Lord Krishna.
Change is inevitable. All predictions and estimations are not in our hands now. The world has become volatile. Nobody could have anticipated the catastrophe that is in front of us. COVID-19 has risen as something new, phenomenal and nobody has any thought of it. One thing is sure, nothing will ever be the same again.
Every coin has two faces, not everything we see today is the wretch. There is some change which leads to a better world about post COVID-19. Let’s have a look at what could be structural movements at organizations in post-pandemic.
Home is the new Workplace
Previously, WFH was a choice, motivating factor, or provided as comfort. Today, under COVID-19 and beyond, WFH is being explored as a more sustainable option. Employees are giving better performance than ever before. It is challenging the worldview that we as a whole shouldn’t need to be together at a similar spot, in an organization to work. The service industry is the one in a particular industry that has risen to some degree since they can use technologies and innovation for virtual working. WHF will lead in removal and restriction of geographical barrier and help the organization in getting dynamic talent. On the other hand for organizations, it will cost-effective idea and for people, they will get better opportunities. In my point of view, if WFH is designed well it will have numerous advantages like securing well-being, economy, and the earth.
Equivalent open doors for women
As we all knew that there still glass ceiling culture in some of the organization and also some women are not able to work because of their marriage or their family responsibilities. Now they can fulfill their dreams are being virtually present in the organization and also fulfill their responsibilities by being physically present in their homes. Thanks to COVID-19, the talents which are getting wasted, now they got a new direction.
Gig will pull out all the hurdles
According to a report by Mint, India’s gig economy, which was projected to achieve a market size of $455 billion by 2023 by industry group ASSOCHAM. According to a report by Economic times In India, there are about 3 million gig workers. Temporary workers including independent contractors, online platform workers, contract firm workers and on-call workers. The number is certainly small if one were to compare it with India’s 500 million workers. However, the good part is that an estimated 56% of new employment is generated by the gig world. Gig economy has lower the cost of online services, for instance- Ola and Uber have reduced their taxi fares, Swiggy and Zomato is offering a discount, now the consumer can spend to multiple sectors, it has also increased the demand of credit cards and online payment system. Demand for consultant, bloggers, marker researchers have increased in countries like India. However, there is a need to formulate new rules in the context of the increasing demand for gig economy for the protection of consumers and data security.
Emerging ‘New Normal’
The organizations need to be agile while dealing with crisis and its impact on the organization. As the world is making a new way and changing accordingly, HRs need to keep their employees, motivated and engaged. It is basic to establish ‘individuals connect’ which stays solid to make a positive and calm workplace. For this, leaders need to show empathy, give structure, and dig into the current work-life difficulties of the peers and employees. The organization needs to provide all the required tools for seamless work from home. It will encourage the employees to give their best. Some honest appreciation and gratification will boost the morale of employees. To fulfill the expectations and goals of the organization, leaders should provide proper direction and there should be clear communication between them. Work from home has become moderately simpler because employees have become more ace dynamic with regards to taking accountability. This move in the workplace has urged employees to be innovative about their problems.
From the beginning of this pandemic, we have seen and still seeing many changes both good and bad, here there everywhere. I am not denying the fact that we have lost many lives, the global economy has collapsed and many people lost their jobs but on the other hand, nature is healing, people are spending more time with themselves and their family which helps them to know what’s good and bad about themselves and their families. One set of rules and policies is running the whole country and the corporate environment is changing. Seems like somebody has pushed the restart button. If everything goes well then, there will be no barriers based on caste, religion, gender and location everyone will get the equal opportunity.
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