The COVID-19 surfaced unprecedented challenges, so much so that it has left businesses baffled and many out of work.To avoid any more damage, entrepreneurs have to rethink their business decisions. Not just that, the widespread skepticism is killing businesses. That is why companies need to take measures to make things work out once again. One key element to discuss is employee management because we all know that a company is only as good as its people. Saving your company means saving those people first who work on the front-line and the background all year round.
There always had been three fundamental issues of employee management:
- Health and Safety
It includes policies and practices that ensure safe working conditions for the employees and to minimize on-job incidents that could lead to litigation, personal loss to employees, and production disruptions.
- Labor Practices
Without comprehensive labor policies and practices, companies can experience a plethora of disruptions to workflow, productivity, and damage to brand value and reputation. It can also cause unrest amongst labor and can bring your entire business to the ground if your supply chain is seriously disrupted. But, good labor policies could save you from all that and can give you a competitive edge over other businesses due to better general employee satisfaction and productivity levels.
- Employee engagement and development
It’s usually the job of the highly-skilled management to attract, develop, and retain employees. Companies need to have well-crafted policies for better employee productivity and retention.
Each of these factors affects companies varyingly based on the sector, industry, and business model. Companies that opt for best practices tend to excel in all three areas of employee management.
The COVID-19 Adjustment
A new dimension to employee management has emerged amidst the pandemic. Both employees and customers are eager to know how they get treated.That is why businesses who are making adjustments in their employee management policies will shape the post-COVID-19 world.
- More opportunities for remote work
Businesses who previously never believed remote work to be a viable option are now considering the possibility of having some permanent remote workforce. A study by Gartner estimated a 30% increase in demand for remote work by 2030. Earlier this year in March, Gartner shared another research that revealed a higher propensity of businesses to permanently shift a part of their workforce to remote work, post-COVID-19.
- Redefined long-run businesses reputation
How companies respond to their stakeholders during COVID-19 will shape the perception of their employees and customers about them. Companies who took quick and effective measures to ensure the safety of their employees and customers will score a prodigious market share in the future. And those who mistreated their employees and fostered a penurious attitude throughout the crisis are bound to lose. Businesses who listened to employee feedback and took measures to ease off the anxiety of their employees will win big in the future. With the right attitude, even tough decisions, like furloughing,could be turned into a deposit for long-term goodwill of your company just by accurately communicating them to the employees.
- An upward readjustment of minimum wage
The pandemic has rekindled a perpetual debate on the minimum wage rates, and it seems like a higher minimum wage rate is here to stay. For instance, Charter Communications, a U.S. broadband connectivity company, has already announced its new minimum hourly rates to be USD 20 for the next two years.
- Increased employee monitoring
Due to the nature of some business, remote work has instilled more monitoring on to employees. While the decision has not surfaced much outrage, but deep down, it’s appalling. For one, the long-run feasibility of overtly monitoring your workforce is thin. And while most employees may temporarily consent to the new rules, economic recovery and new employment opportunities will allow them to reconsider their decision to stay with an intrusive firm. However, the COVID-19 is not going away any time soon; therefore, companies need to take measures that will not offend their employees.
Employees in such a position should know their rights. Most employment contracts have already taken care of any such scenarios of additional surveillance, in which case, there is not much to do. If you are presenting your workforce with a revised contract, make sure to explain to them why it is needed and what includes the additional surveillance. Many firms are now using employee monitoring software programs like Xnspy to look into the company-issued devices of employees. If your company is using a similar program, it is pertinent to decide what to monitor. Xnspy and other similar phone monitoring subscriptions come with surveillance features that could overwhelm the employees. However, you can turn off those that are deemed excessively intrusive, like call and surround recording.
Employees are your firm’s colossal assets. Making an economic recovery for your business requires methodological decisions. Start with treating your employees even better than before, and there will be one less thing to worry about in these oblivious times!