Empower & Enable People
Ralph Waldo Emerson once said, “Life is a journey, not a destination.” So has been my journey till I Co-Founded IGWT Global.
The beating heart of every economy is the workforce. From impacting Growth and Increase in revenue structures years after years, our workforce have always played a vital role in helping our organizations achieve their desired targets and results.
Over the past two months, COVID-19 virus has spread to all continents except Antarctica, infecting people in many countries around the world. As the virus spreads, the society, economy and business are being impacted.
In the face of the ongoing pandemic many employers had little choice but to reduce payroll in response to income lost during the pandemic.
But the decision of how to accomplish that has financial and legal implications for the business and its employees.
How to minimize impact of the epidemic on business, its performance results and, most importantly, on employees – these are the main issues of concern for every company leader.
A recent Deloitte survey conducted among over 1,000 respondents from companies operating in China shows that the epidemic will adversely affect sales volume and cash flows as well as the ability to serve clients/consumers and manage business. Significant risks also include ensuring the safety of employees returning from vacations and business trips, difficulties related to supply of raw materials, lack of tools for organizing remote work.
Company executives also point out that COVID-19 will have an impact on performance efficiency of organizations: 46% of respondents expect a reduction in performance targets in 2020.
Some of the measures at an organisation level are
Work on establishing a dedicated cross-functional team (a business response and continuity office)
The appropriate cross-functional team could coordinate the activities of different business units, monitor and provide the necessary information to senior management team for further communication with employees, customers, and partners.
We as a Distribution, Consulting, Manufacturing Business outfit can also help organizations small and big execute effective process of management decision making, developing web-based skill sets and strategy under various scenarios to ensure business continuity and client interactions.
Bernard, Co-Founder and CEO
IGWT Global Enterprises