A background to the subject topic was provided last week and the stage for detailed discussion was set. Today we would continue the discussions on the subject matter given that its strategic to mankind in general.
The labour force usually consists of workers in the formal and informal sectors, with majority of Nigerian workers in the informal sector.
These are the small business owners, artisans and traders. Majority of this class of people have their businesses closed during the pandemic, and access to basic things like food, shelter, and health-care may be very difficult.
A good number of the formal sector workers, such as those working in oil and gas companies, telecommunications, financial services, real estate, hospitality, etc., may get to retain their positions at work, post-pandemic period.
For those that find themselves in the job search market, it is best they proactively update their resumes, look for work elsewhere and take whatever comes their way.
These types of jobs should be considered as stepping stones, until one is able to get back on track with a desired job.
Safety for Frontline workers: These are the workers involved in the care value chain of COVID-19 victims. This is a very challenging period for them because they are at risk of contracting the infection, due to their exposure.
It is expected that the various state governments provide safety gear / Personal Protective Equipment (PPE) for these workers.
In addition, workers in essential services like supermarkets, traders (particularly food), drug stores, etc., also need to wear PPE to protect themselves, as they will be exposed to a lot of people, and thus stand the risk of infection from contacts with customers and co-workers.
They may also be challenged by transportation to commute them back and forth from the work and home.
As we all know, the pandemic has caused the shutdown of offices, businesses and restaurants as well as worship centres. Thus, as a result of the stay at home order in effect in most countries, businesses are challenged in the following ways:
Loss of income: Companies and businesses that stay shut this period will lose a lot of money. Some of these businesses include hotels, travel agencies, Laundromats, schools, retailers/wholesalers of non-essential items.
This is because there has been zero patronage, so they are not making a sale, or providing a service.
The UK renowned Clothing retailer, Primark, now makes zero sales in a month, due to store closure as a result of COVID-19. The company was previously making about £650m monthly sales in its Europe and US locations.
Staff Lay-Off or Right sizing: This will become inevitable for majority of the companies worldwide. They may need to shed weight, to manage their losses, re-strategize and reposition for the future.
Create alternative work arrangements: These include equipping staff to work from home, and working shift hours. These can be challenging because the company may not be ready to undertake the financial commitment in securing equipment needed to WFH.
Those that are working shifts may need to stay close to work and worry about exposure to the virus from commuting. Businesses that want to go this route need to determine that it is a cost effective measure.
Indeed, the effect of the pandemic is not all gloom as it presents quite a few opportunities. Some of these includes:
Increase in sales of PPE businesses: For these businesses, it is not all bad news. Manufacturers and dealers in PPE from surgical masks, hazmat suits, hand sanitizers, etc., will experience an increase in revenue and profit.
Research & Development Opportunities: This will exist in pharmaceutical industries particularly for vaccines and treatment drugs. This singular opportunity will open up a can of others to include funding, testing, laboratory supplies and equipment, etc.
The Nigerian Presidential Task Force on COVID-19 has commenced a gradually relaxation of the lockdown order largely arising from pressure as well as a feel that the country is on top of the challenge pose by the virus.
Offices, shops, restaurants etc., would be opened for normal businesses.
One may ask, are we going back to our normal ways of doing things prior to the pandemic?
If no, what would be the nature, form and scope of the changes that would be made in our new lifestyle?
Indeed, given that no cure has been found for the virus nor a vaccine developed to prevent infection from the virus, health practitioners warned us to tread with caution.
However, the relaxation of the lockdown is largely so as to avert another crisis such as ‘Hunger virus’.
In the first part of this topic published last week, a glossary of mankind’s experiences with epidemic and or pandemic was provided. History almost always repeats itself.
This axiom makes it mandatory that we as human beings should, if not most, learn from history, hence the need for a strategic approach to understand, appreciate and manage the new ways of living on planet earth, what some people tagged as the ‘new normal’.
We would conclude this topic next week with suggestions to Managers, Administrators and Human Resources Officers on areas to pay attention to in order that organisation’s most valued assets; human capital, are COVID secured and remain so even without vaccination against the virus.
Keep a date with us, please.
“Sometimes, the bravest thing you can do is to never look back.”
