by Bhupendra Choudhary, Business Head of FieldCircle
According to the US job report from the labor department, US employers have given off nearly 30 million positions from payrolls due to the coronavirus pandemic and related lockdown. Similar reports came from India as well. Center for Monitoring Indian Economy reported that 27 million youth in the age group of 20-30 years lost their jobs in April 2020.
When the world is facing a life-threatening virus that spreads through physical contact and could infect anyone, the business community has a chance to hold the mantle of economic support for everyone in need. But that doesn’t seem to be happening, especially when we get to hear such news.
The Need for Introspection.
Right now, business leaders across the diverse industrial sectors need to introspect their responsibility towards society, country, and humanity as a whole. The introspection should be aimed at understanding that any kind of business growth is based on the purchasing power of the buyers. If they will stop supporting the buyers, who are ultimately their workers, it would, later on, impact their business.
For example, in January 1914, Henry Ford doubled his workers’ salary to $5 a day to ensure a stable workforce-a workforce that could afford the product they are making. Well, the situation and motives behind the increase in wages might be different, but certainly not the end result. The idea formed the foundation of the modern economy which runs on consumer demand.
In the economy which is driven by consumer demand, business leaders can dig their own grave by laying off workers, as in laying off employees, means weakening the purchasing power of the consumers. So even if we see the whole pandemic from the economic lens, it would not be wise for the businesses to lay off employees on such a large scale.
Empathic Business Leadership.
In the crisis as is the coronavirus pandemic, the world needs empathic business leaders who can act as the pillar of support, leaders who are sensitive to the health and economic condition of people, lending them a helping hand to come out these uncertain times, instead of turning away.
How do business leaders can show empathy?
Many companies throughout the world have run numerous PR campaigns and CSR activities before the outbreak of the pandemic, showing how much they care about people. But often good deeds in good times get unnoticed. In the time of crisis, companies have the opportunity to show their true character and materialize everything they wanted to realize through those campaigns–an empathic image of the company and the leaders.
Here are a few ways business leaders can show empathy:
Layoffs seem an easy way of cost-cutting. But is that the only condition of surviving in these tough economic times. We know that money is the fuel of any business, but when there is a shortage of fuel, we simply don’t ask the travellers to get off in the middle of the journey. We stop and find new ways of getting fuel. And it is not an idealistic dream. Businesses have done it before. In 2008, Adobe tested its software delivery model and in the next few came up with the SAAS model, which is today one of the most popular service delivery models in the tech world.
Stay Positive and Resilient.
When a new crisis occurs, people often rush to a conclusion. For example, when Kotlin was launched, hundreds of articles floated in the market predicting the end of Java. Even today, you will see many theories around the end of the office space. People are in urgent need to conclude but that urgency creates fear among employees. Business leaders at this time need to share a shoulder with their employees, be sensitive to their needs, and keep them positive.
In addition, they also must focus on building resilience to adapt to the new conditions, such as empower the employees with digital tools to develop resilience. For example, if you are into field service-focused organization, you can use advanced field service management software to keep your employees connected, create and share information on an integrated platform, and enhance tracking and monitoring capabilities in real-time.
Remember that your act of kindness, compassion, and empathy can motivate others to follow the same footsteps. It is not just about doing good to others and feeling good but also inspiring others and come forward as a stronger community essential for the upheaval of society, economy, and your busines.
As the Business Head of FieldCircle – a field service software, Bhupendra Choudhary effectively manages the entire sales and service network of the companies with visibility, transparency and efficiency. As an entrepreneur and technology enthusiast, he has enabled field sales and service-focused organizations to effectively manage their entire sales & service network with visibility, transparency, and efficiency.