Australia is one of the countries which understand the virus and adopt the early measures. The social and economic impact of COVID-19 in the context of employment and social dislocation. COVID-19 global pandemic is affecting many people around the world. The Covid-19 pandemic has become a global crisis now. It has changed the perspective of every person to see the world. People, economies, countries, are still in shock with this pandemic as all are locked in the cage. Many people who were facing health issues due to Covid-19 are now in pressure to work from home in less salary or do not even have work. The future policies of Human resource in future will be complicated and challenging (Buckley, Doh & Benischke, 2017). The cases are increasing day by day which is also increasing the health risk within the world. After the lockdown, industries start facing issues. Many people went homeless because of a global pandemic. Due to the pandemic, debts and pressure are increasing.
Employees are the backbone of any company as they can earn reputation and profit for the company through them. Here, retention of employees and to provide them with a healthy environment is a critical topic to discuss (Bisht, Chaubey, & Thapliyal, 2016). The retention of the employees totally depends on the policies made by the Human resource department of the company. It is important for every company to satisfy the needs of the employees as they are the most important assets of the company. Employees are derived by motivation and motivation is segmented into many factors that can be positive behaviour of the manager, healthy environment of the company, genuine and acceptable rules made by human resource department, and so on. Motivation makes any employee efficient and productive. Organizations are facing a lot of challenges and risks in context to national, economic, or societal borders (Eisenhardt, Graebner, & Soneshein, 2016; Ferraro, Etzion, & Gehman, 2015). The severe economic downturn in Australia and in all over the world is the reason for the instability of the country and businesses within the country. In this interconnected world, this pandemic has affected the survival of the organizations but due to the COVID-19 pandemic (“Coronavirus (COVID-19)”, 2020), organizations have faced many big challenges in order to make their business survive in the corporate world also to alter their workforce again with planning and strategy.
The COVID-19 pandemic has created a challenging environment for the human resource management wherein the Human resource department are continuously trying to regain the reputation and the employees back to the workforce as now the employees who used to visit the office on daily basis can work remotely from home.
Work from home policy is being introduced for a large number of people at the global level to keep them away from the Covid-19 virus. By which the workers, labourers, and their families can be protected. It will indirectly lower the rate of infected people but with regular visiting work, many of the population can be affected. It is a very tough time for the people whose income is less, like workers who earn on a daily basis because no work is been given to them and it is very tough for them to survive themselves and their families in this infected time. Schools and colleges are closed for the students and everyone is taking online classes from home which is beneficial for them as well as for their teachers. However, the government is in the process to provide sustainable solutions for the workers so that it can be easier for them to survive at this time.
People who are working from home are getting fewer wages as there is very little business because of the pandemic. Apart from this, there is also a large population that does not have any work or any source of income. They are fighting with not only the infection but daily for their necessary expenses. There is no time that guarantees the end of the infection, it has been stated that it will take time to fully recover from this infection and it can be a part of the future as well. It is no new theory that we may have to live with masks and the fear of infection in the future as well. Scientists and doctors are together working day and night to find the vaccine for this infection by which they can start saving people's lives. Even if we know that there is no vaccine for this infection still we need to work and should keep us safe to save the economy, society, and the world. The whole Globe is facing economic consequences and we cannot imagine the time after one or two years if we have to live with this infection. This is not the first pandemic for the world, we have faced many pandemics throughout history (Stohr & Esveld, 2004). Throughout history, the big pandemics often give birth to low return assets and economic downturn (Jorda, Singh, & Taylor, 2020). Pandemic outbreaks give birth to new behaviour change for example wearing masks is a need as important as clothes as personal protection (Funk, Gilad, Watkins, & Jansen, 2009). It is a fact that the world was not prepared for any type of serious pandemic otherwise situations could be much different. Covid-19 is a reason for the closure of many businesses and industry sectors. Many brands are facing serious challenges like affected supply chain, poor health of workers, safety precautions within the organization, tough cash flow, very few demands for goods or articles, less amount of sales, or marketing. It is a fact that we even don’t know which sectors will rise or fall after the pandemic, it could be a totally different world than today. Human resource management are adjusting new and old employees according to their key responsibilities to work remotely.
Due to quarantine, people are hidden in their homes and do not want to go out. It is affected their businesses and their incomes which is creating more disabilities in the person’s life apart from health concerns. Companies discontinue hiring new staff and showing the exit ways to the old staff to sustain their businesses. New companies are shutting down, as they are unable to pay wages to the employees, and cannot even pay the cost of rent for the offices, warehouses, branch offices, etc. Countries banned the borders and stop the entry of visitors to their country or state, this affects the import and export businesses as it is very tough to get out of the state or to enter any new state. Every country wants to preserve its economy to keep the state productive and to overcome quickly from this infection. If there will be no jobs or sources of income people, evil things can attract people, for example, they start looting in order to survive. It is very important to follow the precautions and measures like giving a safe and secure environment for the employees visiting the organization in this pandemic. Proper sanitization is a part of daily routine, health access should be provided to all regardless of any discrimination. Companies should encourage a safe work environment from home and should be given a proper salary to them for their work regardless of the location from where they are working.
Proper business plan and strategies should be implemented to make the future secure. Human resource systems can help employees within and outside the organization to encourage the growth of the company (Kehoe & Collins, 2017) with the regular meetings, pieces of training and feedbacks. It is believed that the organizations should adopt new human resource practices for the employees which can help to resume the work in the future. However Human resource management is working great as an emergency response team and in decision making for the employees as well as for the companies. The most important thing is the health safety of the employees as safety is the basic essential in the pandemic risk.
Regardless of the type of Pandemic, it is very important to learn lessons for it, so that you can secure the future and the upcoming financial crisis. Sustainable business is a need to earn in this pandemic. The government is regularly working to tackle the consequences caused by the crisis, like financial, economic, etc. Crisis management is important to handle the crisis. Many people are losing their lives because of the infection it is important to live a hygienic life with proper measures like hand wash, maintaining social distancing, avoiding get together, wearing masks, etc. Human resources are working continuously to provide a healthy environment for the employees and companies are providing them with the option to work from home as visiting the offices can be riskier for them. Human resource management can help the organization to survive and to look for more growth options in future once the pandemic will come in control.
Bisht, S., Chaubey, D. S., & Thapliyal, S. P. (2016). Analytical Study of Psychological Contract and its Impact on Employees Retention. Pacific Business Review International, 8(11).
Buckley, P. J., Doh, J. P., & Benischke, M. H. (2017). Towards a renaissance in international business research? Big questions, grand challenges, and the future of IB scholarship. Journal of International Business Studies, 48: 1045–1064.
Coronavirus (COVID-19). (2020). Retrieved from https://www.nih.gov/health-information/coronavirus
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Jorda. O., & Taylor. A., (2020). National Bureau of Economic Research. Longer-run economic consequences of pandemics. 26934
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