Coronavirus Job Losses: What is the long-lasting impact of COVID-19 on jobs?
The coronavirus has caused a tremendous impact on human life. It has affected lifestyles and economies from hereon. What does it have to say about the future of jobs and employment?
The rise of unemployment rates has commanded new social norms. The fear and anxiety inflicted on every individual and their families struck a long term effect on livelihood and economies. Many have decided that not until a vaccine or proper cure has taken effect, then will they only restore the confidence they had going outdoors and interacting with people.
The pandemic has claimed thousands of lives and cost millions of jobs globally. The lingering effect of the catastrophe has affected market demand and supply chains. Today, businesses try to survive and thrive. But for that to happen, they must be able to identify themselves as part of the 'new normal.' Therefore, companies should adjust and new skills should be developed.
The global workforce should be protected
Economies depend on restoring normal economic activities in the society. This is where money circulates and runs the economic condition of a society. The stall from the coronavirus outbreak has promoted an economic and market shock that disrupted production, demand, and consumer behavior on a global scale. Businesses are now geared towards making new guidelines and policies to create a safety blanket for their employees.
The growing unemployment rate has affected lives and families economically, emotionally, and psychologically. Measures should be finalized to enable deployment and reinstatement of workers. Without them, businesses would find it hard to move forward and establish business continuity. Despite the development of heavy automation, human resources is still the essential driving factor of business survival for most. Albeit the shift of production line techniques and methods to AI and other machinery, the rest of the value chain going towards a customer and their after-sales services still require human touch. Business sectors are approaching this in various ways. For some, they have identified "essential" and "pointless" jobs to be strengthened and re-skilled accordingly. Work from home has also been encouraged either full time or part time. It is by far, one of the best part time jobs laid-off workers have been wanting to exploit. Offering work from home jobs enables businesses to resume operations at lower costs without having to sacrifice employee benefits and happiness. Meanwhile, service providers such as hairdressers, bartenders, and the hospitality sector have yet to fully integrate more creative ways to promote and render services under new standards. Adequate protection should also be in place to restore consumer confidence.
Working in the office
Now that working from home has been embraced more warmly by businesses, it won’t be surprising if it could be the new norm, and working inside an office may eventually become a status symbol. With business owners realizing the cost savings of remote work, and with employees becoming more efficient with this new working environment, companies may start promoting regional hubs and headquarters as a symbol of strength and stability rather than a place to house employees. Co-working spaces may be in-demand instead.
Web Conferencing can replace meetings and business trips
As employees start to utilize online tools and platforms for business operations, meetings and business trips have a possibility of being converted into web conferences instead. As all kinds of travel have been deferred and discouraged, telecommunication will be regarded as a means of bridging transactions while cutting down on costs. As newer technologies are developed and learned, it will root itself deeper into daily business work.
In response to social distancing measures, the converging of large groups will still be discouraged even in the workplace. Conferences, seminars, and conventions are seen to adapt to some extent. Ultimately, there will be a disruption in mobility and transportation.
For essential employees required to remain at work, it might suffice to say that there will be an end to open office layouts. Desks will be apart, and cleaning stations will become a necessity. Hand sanitizers, antibacterial wipes, and other sanitizing agents won’t be short of supply. Shared spaces will have touchless features and voice-activated equipment. Workers will demand security, and social mingling will be lessened.
The labor sector has been reshaped by the pandemic. Quantities and quality of work are posed on a different landscape. Notwithstanding the emotional and psychological implications inflicted on individuals and their families, policies and business measures are heightened to respond to the vulnerability and volatility of human and economic conditions. The quality of work will impact wages, access to medical health, and social protection.