Job scenario, Post Corona

Job Scenario, post Corona

It will take a few months for the  human race to get back to normalcy by overcoming the impact of the  economic slowdown and downbeat mindset, post the Pandemic, Corona...

Business environment is likely to be gloomy for the next few months...  .

Due to this, the purchases both in B2B and B2C are expected  to be limited to absolute necessity.

This will lead to reduced demand of products and services..
Few businesses like Health Products and services, essential goods, etc would be exceptions...

As a fall out of expected  reduced volume, almost every Business will be compelled to go for cost cutting

There will be a very small percentage of organisations who may be financially healthy that they do not have to do go for cost cutting above...

With reduced volumes, many a business will not be able to utilise the entire staff optimally.

Business owners may get a  perception that their business is overstaffed.
This challenge will be more with SMEs. Though they are lowly staffed, the salary component dyring this period of poor revenue will be very tough to handle.

The above situation in many businesses would force them to cut cost.

One of the immediate cost cutting methods would be to ease out the people whose absence will not make a difference to the business.
Or it will make such a small difference, managing it will not be a big  challenge... 

Loss of jobs is on the cards for many employees, because of the above scenario... .

This would mean that only those in critical jobs and are important to the organisation would continue... possibly, they will be urged to take more responsibilities...

Status of others will depend on what contribution they made in the past, are making now and are likely to make in future to the organisation.

Some of the following methods may be resorted to by organisations to cut cost...
 1. Cutting down the fringe benefits is also pretty high...

2. Salary cuts for all

3. Stoppage of Increments

At this point of time, it is important for all those employees to contribute their best to the organisation for two reasons:
1. In their own interest to Keep the job and grow
2. In the interest of the organisation's growth.

After all, this financial year is going to exert a lot of pressure both financially and administratively to almost all organisations.

Hence the priority of every organisation would be to save itself from succumbing to the scenario.

Even the best of employers could be in a dilemma of choosing between the interest of organisation or employees.

Employers should try and do their best to protect interests of its employees.
This will help build their confidence and trust and also help the long term goals of the organization...
Employers should take employees into confidence and take their opinion before taking decisions

Conclusion:
Employers and employees joining hands in taking up the challenge of slow down as a team would help the organisations to tide over the situation successfully.

It may sound difficult, but, certainly not more difficult than the situation which will be faced without teaming up.

Muralidharan Margabandhu
Whatsapp : 9841049588