It's difficult to run a business today in the face of the global COVID-19 pandemic. The pandemic has had a significant impact on the economies and cultures of over 200 countries. The pandemic had an effect on the general public's daily activities. As a result, people's incomes are falling, inflation is rising, and the number of people losing their jobs is growing. Meanwhile, a number of debates are taking place regarding the impact of COVID-19 and its implications for workplaces, working practices, and Human Resource Management (HRM).
Many of the problems have arisen as a result of business and profit declines. It is difficult to care for a company's employees if there is insufficient demand and profit in the business. Some businesses have even closed down, while others have reduced their operations. Some have also been forced to reduce their workforce. As a result, many trainees and fixed-term contract employees were laid off. The majority of the outsourced laborers have been dispatched.However, they must look after their permanent employees because terminating permanent employees is a lengthy process for a company. Some of the companies cut their salaries as a mechanism to reduce staff cost.
In every company, the Human Resource division must play a critical role in combating COVID-19 while also managing human resource management functions. As the entire management team has a key responsibility to look after their subordinates, every single manager must perform an HR role in collaboration with the HR division. It is necessary to ensure the staff’s health and safety while educating them on how to prevent the pandemic.
The Human Resources department must balance the needs of the company and its employees. Without profits, the company cannot care for its employees, and without healthy and potential employees, the company cannot perform. Many businesses are currently struggling to grow their businesses. They must keep their businesses running while managing their expenses and maintaining a small profit margin.
References
Lewis.N, 2020. SHRM. [Online]
Available at: https://www.shrm.org/hr-today/news/hr-news/pages/hr-managers-rethink-their-work-coronavirus-pandemic.aspx
[Accessed 24 March 2021].
Author has explained the impact of Covid-19 with some examples. As mentioned in the article it's no doubt; HR has to play a critical role.
ReplyDeleteI feel that if author could brief the way of combatting the pandemic would be much benefits to the readers; like how HR can boosting the moral of employees by providing relief. Such as talking with the finance institute to hold employee's loan / lease installment, Provide dry ration pack & deduct the amount in few installment from monthly salary, Encourage work from home practice, Arrange mental wellbeing training etc.
However, the article is worth to read for getting an idea of the Covid-19 impact to the organizations.
I agree with the author. The new strategic lever for better HRM will be striking the right balance between profit for the business and protection and personal safety for employees. HR is playing a vital role in creating new and efficient ways of working while dealing with the stress and pressure of entire workforces due to Covid 19 impact. Well written article.
ReplyDeleteCOVID‐19 pandemic is a human crisis. Thus, human resource (HR) leaders have been central to the response in organizations globally. This contrasts with previous crises such as the global recession of 2008–09 or the Y2K crisis at the turn of the millennium that accentuated the roles of finance and IT leaders, respectively. By amplifying the role of HR leaders, COVID‐19 has become an inflection point with substantive implications for HR globally.
ReplyDeleteFirst, while the majority of industries have been negatively affected by Covid-19, particular industries and sectors have been affected positively. For example, in Australia, amidst some reports of negative impact, many respondents from healthcare and social assistance, public administration, finance and insurance and mining have reported a positive impact. As would be expected, the majority of our respondents so far have moved to remote working, but most have not made positions redundant and have worked to retain staff without using government subsidies. In some sectors, some additional hiring has been undertaken while in most, hiring freezes have been put in place.
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