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The pandemic is sparking an era of 'smart generosity'

Companies' response to the pandemic

While facing the difficulties that the new virus is making companies all over the world fight against, there are several employers out there who seem to really know what they are doing. Companies of all types are helping researchers, suppliers and not only to help slow down the spread of the virus.

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The pandemic is sparking an era of 'smart generosity'

The pandemic is sparking an era of 'smart generosity'

https://www.fastcompany.com/90496736/the-covid-19-pandemic-is-sparking-an-era-of-smart-generosity

fastcompany.com

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Key Ideas

Smart generosity concept applied inside the companies

Because of the current pandemic, companies have had to re-evaluate their purpose. This is to say that smart companies apply the smart generosity concept, according to which employees and stakeholders come before the shareholders. It is worth mentioning that the central part in all this goes to the employees, as they are the ones ensuring the good functioning of the company.

Companies' response to the pandemic

While facing the difficulties that the new virus is making companies all over the world fight against, there are several employers out there who seem to really know what they are doing. Companies of all types are helping researchers, suppliers and not only to help slow down the spread of the virus.

Cooperation in the time of Pandemic

Companies all over the world are currently collaborating with each other, NGO and governmental entities in order to hep improve the overall current situation. Their cooperation goes from providing food to the ones in need to developing vaccines.

Re-evaluating the company's purpose

Once the new virus will have passed and we will all have safely returned to our lives, it might be useful to bear in mind what this situation has taught us. Especially if you own a company, you might want to consider putting your employees first, stakeholders, customers, citizens and so on. And do not forget: through cooperation and kindness, we can actually stand a chance when confronted with such dangers.

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Human Well-being 

As companies strive to become more meaningful, purpose-led, sustainable and connected to human well-being, they are seeing increasing value among stakeholders and customers.

A crucial Alliance

To make real progress, governments, civil society, companies, and charities must come together and form an alliance.

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Getting the economy back on track

While fighting the new virus economy worldwide has seen a huge growth in unemployment. Therefore, measures are to be taken and this as soon as possible. Maybe the most significant factor into getti...

Immunity vs. privacy

Getting the worldwide economy back on track requires workforce. Providing this workforce requires healthy individuals able to work hard enough to help things get better. Governments are now trying out ways to officially have people's health checked: by providing different types of certificates, for instance. The major concern, however, is in regards to everybody's privacy: while these certificates do prove our immunity, research institutions are working on developing tools that can also protect our data.

Certifying immunity and its advantages

It might be that only by certifying workers' immunity, states can help their economy know growth again. However, in order to make the people who get certified take up positions that require direct contact with customers, there will be a need for encouragement from employers' side, such as pay raises. As this is maybe the only real option, countries worldwide are going to have to apply the method.

How leaders cope with uncertainty

Uncertainty is always there. The degree of uncertainty can rise and fall.

Leaders, being human, also have difficulty coping with uncertainty. When they receive confusing information, they te...

Heuristics during periods of uncertainty

During periods of heightened uncertainty, leaders reflexively reduce investment, stop hiring, slash marketing, refrain from entering new markets, or stop making decisions.

Although understandable, acting in a pro-cyclical manner can be counterproductive. It can leave companies poorly positioned to benefit from the next stage of the cycle.

Attributes to succeed in uncertainty

Organizations should be inclined toward action. As a baseline, companies must strive to be fit for growth. This can be done by aligning costs with priorities and strategy, investing in varied capabilities, and using traditional and digital levers to execute.

They must regularly engage in scenario planning with an array of options. They must build the capacity to be agile. They must learn to become more resilient to withstand strong external forces and quickly recover from setbacks.

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The mask

The mask - a flimsy polymer cup - fits tightly around the face and is capable of filtering 95% of airborne particles, such as viruses, from the air.

The firsts masks were ...

Surgical masks

Doctors started wearing the first surgical masks in 1897. The masks were not designed to prevent airborne disease - that is still not the case today - but to prevent doctors from coughing or sneezing droplets onto wounds during surgery.

The first modern respirator

During 1920, a plague broke out between a shared jurisdiction of China and Russia. The Chinese Imperial Court brought in a young doctor named Lien-teh Wu that determined that the plague was not spread by fleas but through the air. He expanded upon the surgery masks he'd seen in the West, and made it from gauze and cotton and added several layers of cloth to filter inhalations.

When the Spanish flu arrived in 1918, the mask was well-known among scientists and the public.

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Changes you may see

If and when you return to your office after the pandemic, you'll probably notice some changes.

  • The doors of the building may open automatically, so you don't have to touch the handl...
Working from home

Before the pandemic, only 4 percent of the US workforce worked from home at least half the time. However, the trend of working from home had been gaining momentum for years.

It is estimated that within a couple of years, 30% of people will work from home multiple days per week.

Continued remote work
  • Before the pandemic, a lot of company management and leaders were skeptical regarding remote work. But the skepticism will go away because companies recognize that remote work does work.
  • The economic impact of the pandemic will likely force employers to cut costs. They may reduce their rent by letting workers work from home instead of layoffs.
  • Employers had to spend money on new technology and equipment to work from home - a departure from the norm.
  • Employees themselves are also spending more money to create better home offices.

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Longing For The Office Culture
Longing For The Office Culture
  • Earlier a privilege for a few, work from home became a norm for most office-goers due to the ongoing pandemic and is likely to remain for the rest of the year.
  • The shift towards wo...
Work-Life Balance When Working From Home
  • Though employees are happy to see the demise of daily commutes and parking hassles, they are finding out that there is no work-life balance at home.
  • Most workers live in apartments that aren’t suitable for 8 to 10 hours of work every day, as it was never designed to be a full-fledged office.
  • Many employees would want to get back to offices as soon as possible due to social and mental issues, like the feeling of loneliness at home.
Digital Monitoring

Monitoring software that checks time spent on different applications, chat response time, and keystroke recording is now in great demand.

HR departments worldwide are fueling the use of technology to have a way to control the employees that are now no longer in the office.

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Automation Is Here

Automation has a huge potential to change the nature of work, freeing up workers from tedious, repetitive, and precision work. Automation is a transformational change for owners, employees and...

Aim High

A thorough reassessment is required of how the company operates and how best to capture the impact of automation.

Companies who have just automated on the surface have had small and limited results that don't last. Companies that have understood and deployed the high-risk, high-reward proposition have completely transformed it's business offerings and have become market leaders. They have also redeployed the freed up workforce and provided additional services, even turning their competitors into customers.

Commit and Communicate

A joint effort of commitment and communication is essential for a thorough approach to automation and has to be led by top management.

Apart from IT, all stakeholder groups like HR, Operations, Business Units have to be engaged, and communicate consistently.

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The new normal

Global companies, from the UK to the US, Japan to South Korea, have recently rolled out mandatory work-from-home policies amid the spread of the new virus.

Working from home will become t...

Clear communication

The key to working from home is clear communication with your boss. Your manager might not be used to managing people virtually or may not have a ready-to-go suite of tools for remote workers.

To prevent a breakdown in communication, you need to know exactly what's expected of you from day-to-day. Ask your boss for a 10-minute video call to start and end the day. Reach out to coworkers and managers regularly so that you won't get forgotten.

Treat it like a real job
  • Don't lounge around in your pajamas. Treat it like a real job.
  • Create a space exclusively for work that is removed from distractions, just like you would at your office desk.
  • Create boundaries within your home that your family members understand when you're 'at work.'
  • Bookend your day. If you can't enter and leave a physical office that creates more precise boundaries, use psychological transitions like a 20-minute coffee in the morning, then exercise right after work.

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