Introduction
The emergency in which we currently find ourselves has led me to ask what the social implications will be, not just for the individual but for the world of business and communication, too. I believe that many of the positive changes that could now be made should remain in force once this crisis is over.
The aim of this article is to analyse and determine the most appropriate strategies for dealing with this pandemic. The spread of coronavirus has forced most of the world’s population to undergo a period of quarantine. Each of us can choose how to react to this emergency, either acting courageously or surrendering to fear.
Quarantine risks
Analyzing the risks and dangers of quarantine is the first step that needs to be taken before we can consider our response to COVID-19. Being forced into quarantine can obviously cause immediate problems such as frustration, boredom, isolation, fear, anger and insomnia.
However, there may well be longer-term problems, too. Indeed, according to a recent study conducted by King’s College, the enforced isolation may well lead to anxiety disorders, depression and post-traumatic stress disorder (PTSD).
There are obviously several causative factors, the most significant of which are almost certainly the loss of routine and the reduction of physical and social contact.
So, how can we deal with the risks arising from enforced quarantine and improve our ability to cope? Certainly, maintaining a positive attitude is essential. In addition, keeping ourselves informed via reliable sources only (avoiding fake news), staying in touch with friends and relatives and maintaining a healthy and active routine is highly recommended.
Behavioural areas during quarantine
Based on human behaviour research, three so-called behavioural responses have been identified in times of emergency or danger.
These are Fear Zone, Learning Zone and Growth Zone, as shown in the following graph.
We have seen how the pandemic has changed people’s habits and behaviour. We shall now consider how it affects the economic system and business in general.
How should companies communicate during the emergency?
During this period of emergency, companies are being forced to change their communication strategies, adapting them to meet the current situation. I would suggest that the new communication strategies should be based on six main initiatives:
1) REASSURANCE, i.e. increasing dialogue with the customer.
2) SHARING THE POINTS OF VIEW OF THE SITUATION, providing that the situation is being addressed with videos or articles.
3) COMMITMENT TO SHARING COMPANY POLICY, in which employees are informed how they are being protected and how risk can be reduced.
4) PAYING CLOSE ATTENTION TO HYGIENE STANDARDS DURING THE PRODUCTION PROCESS.
5) RETHINKING LOGISTICS AND COMMUNICATION STRATEGIES.
6) ADOPTING CORPORATE SOCIAL RESPONSIBILITY: activating initiatives to support the community.
By following these steps, a company can reduce the negative impact of the virus and, perhaps, even renew mutual trust and improve its relationship with its customers.
What changes in the business world are necessary?
The government has the task of protecting citizens but companies also have a responsibility to protect the physical and moral security of their employees.
To do this companies should, in my opinion, adopt the following measures:
– flexible working policies, by allowing workers to stay at home for personal reasons.
– working hours limitation, for all branches, with access granted only upon pre-arranged appointment to minimize contact and increase sanitization time.
-“catastrophe pay”, for workers exposed to COVID-19 and so unable to work.
– minimizing contact, especially between delivery staff and customers
(i.e.: cashless payments only, providing all employees with masks and gloves).
–extended benefits, such as bonuses for families with children, elderly care and mental health benefits.
The above are just a few proposals, but many more could be introduced.
To avoid making the same mistakes, we need to re-imagine our future, our “next-normal” , taking into consideration what the quarantine has taught us.
What will the “next -normal” be like?
The spread of coronavirus has had a devastating impact on the financial market and the world economy. The projections for 2021 are very negative and for most countries a period of economic recession is expected. Recovering from this situation will not be easy at all.
When this crisis has ended, what will the future hold for the following?
- Consumers: what will change for consumers ?
- Supply chain: will supply chains models shift with the increasing focus on resiliency and digitization?
- Regulation: how could health and the overall economic regulations be impacted?
- Organization: how will workforce norms and operating models adapt?
- Corporate valuation: how will valuations shift given corporations’ need to invest in resilience capability ?
Conclusion
Without doubt, the spread of COVID- 19 was an unpredictable and dramatic event. The thousands of victims and the economic consequences will forever mark our history. However, depending on how we choose to react, this emergency could also have positive implications. These could include, for example, a stronger sense of global unity, a decrease in pollution leading to a more sustainable economic system and, finally, the recognition of life as a precious, fragile gift.
SOURCES
Fondazione Umberto Veronesi
McKinsey & Company, COVID-19: Briefing materials, Global health and crisis response
Sole 24 Ore
Bloomberg
Engage Contemporary Marketing & Media