Corporate Responses to the Covid-19 Pandemic

 

In present scenario there is new kind of a virus, something that the world had never seen before, known as the Coronavirus, first came into light somewhere around the end of 2019 and the beginning of 2020. What we did not predict was how far it would reach us globally and impact every single aspect of our lives. Not only has our work-life balance come to a sudden halt, but so have almost every other thing- the world economy, our personal and social lives, education, health, and so much more. 

Most corporate training programs include resilience training and emergency planning. However, the world was not prepared for a pandemic to hit us so suddenly and so significantly. Now, most companies are being forced to think fast, on their feet, and come up with the appropriate responses to this Covid-19 pandemic. 

When it comes to the ‘right’ or ‘wrong’ approach, we honestly don’t know much. It has been quite a while since the last pandemic hit the world, and even then, taking into account all those experiences and what we learned from it, is still not enough. 

coronavirus business impact

What companies have done up until now

Over the decades, companies all over the world have taken mitigated steps to give valuable disaster management training, resilience planning, and crisis management lessons to their employees.

However, when a large scale pandemic such as Covid-19 hit the world, every company seemed ill-prepared. All the plans for disaster and crisis management involved a various number of business disruptions, but the entire planning fell short when dealing with this global crisis. 

It can also be noticed that while most companies did provide proper resilience planning and disaster management training to employees, investing in pandemic management training did not take a necessary form since it was a less likely event to occur. 

 

Current corporate responses to COVID- 19

All over the world, significant global figures have decided to take this crisis by the reins and develop new and improved disaster management techniques that are beneficial not only for the company but also for their workers and management. 

One of the most significant surges can be seen taking place in hospitals all over the world. This is entirely expected. However, without proper management techniques, even the most notable hospitals would collapse under the pressure of Covid-19. 

 

Strategies introduced in hospitals during Covid-19 

Developing newer strategies for placement of patient beds, proper medication and care, and most importantly, taking the best precautions to protect the medical staff is being done all over the world. 

Better communication systems are being introduced in hospitals so that patients can communicate with the doctors or the medical staff while reducing contact, and thus, contamination. The patients also have to be given the proper means to communicate with their families and with the outside world, as completely being cut off and kept in isolation can have a hugely negative impact on their recovery rate and time. 

 

The mining industry and its downfall 

The mining industry is one of those industries which have been hit hard by the global pandemic. It has been observed that more than one-third of the nations which have been severely impacted by the Coronavirus are resource-dependent nations. This means that these nations generate over 20% of their export revenues with metals, minerals, and hydrocarbons.

Due to the Coronavirus, these industries have seen a sudden halt in their operations, brought on by extended lockdowns, outbreaks of the virus, thus leading to reduced production. The impact of this has been a large number of jobs being lost, food shortages, reduced rations, and of course, a significant strain on the healthcare industry. 

To help these mining companies, several big players have contributed millions to try and alleviate some of the distress caused by this global pandemic. Their individual, as well as group efforts, have been recognized, especially in places such as Africa, Australia, and many other sites. 

 

Covid-19 testing 

One of the significant priorities around the globe remains the improvement and increase in Covid-19 testing kits. Doing this will give us the advantage of really understanding the full extent as well as the further impact that Coronavirus has had in places all over the world. 

Siemens Healthineers, which is a German medical technology group, has decided to produce 50 million Covid-19 antibody test kits every month. This was supposed to begin in June 2020, and already, over a million COVID-19 testing kits have been sent to laboratories as well as health centres in the United States. 

Employee support during this hour is significant, and many corporates are taking a hands-on approach (not quite literally, though) to helping their employees. Their help and support include things like spreading proper information and awareness amongst all of their employees. They must also ensure that no panic or misinformation is being circulated amongst employees, as this can further reduce employee morale and even take a toll on their mental and physical health, affecting their work-life balance as well. 

These companies are also providing other facilities and services which are essential during this crisis. These include an extended child and elderly care, transportation services for their employees, and to provide assistance and care to sick personnel, as well as those employees who have to look after household members who are ailing or old. 

 

What can companies do during this crisis?

These companies need to extend their research as well as their traditional boundaries when it comes to deal with a global health pandemic. Life must go back to normal, or at least as normal as is possible within a worldwide crisis. Declining essential services such as transportation, health care, internet, and telecommunications will pose significant threats to activating the right strategies and plans to move forward. 

Companies must take help from each other and extend support. Recognizing the fact that this is a global crisis when everyone must extend a helping hand is very important. Currently, the corporate response from many big players over the globe has been quite good, and these responses are helping these companies stand back on their feet during a crisis this colossal. To move back into the market, it is essential to continually improve strategies and gain more awareness about this Covid-19 pandemic, and of course, to respond appropriately. 

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