Estimated reading time: 3 minutes
Series edition 1/2
In addition to the recommendations made in "Seven key actions business can take to mitigate the effects of COVID-19", what would the possible impact be on organisations globally?
This is it. It is not a C-suite or focus group discussion.
It has happened. It is a reality. And nobody knows how the script will unfold. People reach for help to help manage the crisis. The questions cover a wide array of topics, prompting us to share some thoughts and tips to help you navigate the next few weeks and months.
The coronavirus impacts individuals, teams and organisations in (almost) unimaginable ways. It is understandable that, with the global nature of this pandemic, there are reactions from various sources in an attempt to make sense of the pandemic, as well as to mitigate the effect and risks. The rapid spread of COVID-19 and the fact that it is potentially life threatening emphasises the seriousness of this matter.
PwC’s Melanie Butler and Kristen Rivera have looked at seven actions organisations can take to mitigate the effect of COVID-19 in group discussion. It is reality. THAT organisations respond is almost as important as HOW they respond. The only choice organisations do not have is not to respond at all.
Industries that rely on large numbers of people being present in one place (e.g. sports events) or that rely on an influx of people at certain premises (e.g. hospitality) will be profoundly affected. It may already impact education or at least disrupt it significantly. We might lose an entire term. Already, some entertainers resort to streaming their concerts. Some popular holiday destinations are repositioning themselves to remain economically viable. And this is due to something as simple as where people find themselves, how long they stay and how often they move.
Even though we were (partially) prepared for digitisation, we did not expect a virus to change the nature of work so profoundly, so quickly. As already mentioned, the nature of the coronavirus is restricting the movement of people. This necessitates the need for working remotely and may cause a spike in demand on the technology infrastructure of countries. It could also cause job losses, as some industries rely on employees performing work at specific locations such as factories, for example.
In our next article, we will have a look at another very important question: how could COVID-19 change the way teams function?