COVID-19 Vaccine – Impact on Your Corporate Strategy

Covid 19 stresses and tautness have not been completely wiped off even though multiple vaccines are in the picture. All the employers must consider workforce planning and the impact of vaccine introduction now itself.

Employers are trying to adapt to Covid-induced decisions like layoffs, furloughs and even new business strategies to keep businesses afloat. Even if the employees are continuing to work from home,the management should decide whether to force their employees to get vaccinated or not.

Things might or might not be going as planned; this new change, figuring out how to manage the workforce, and deciding whether the employees should take the vaccine or not might be the next hurdle for them to face.

How will it affect your return-to-work strategy?

After the pandemic hit, experts predicted a future of work that is much focused on virtual jobs and a hybrid model that involves employees visiting the actual office a couple of days each week or even month. The introduction of the vaccine gives more hope to the employers in the case of welcoming the employees back to the office space, assuming the office spaces are still managed according to the health norms provided by the authorities.

The expense of the office space is typically the second-highest expense for companies after salaries. Now, most of the companies are reevaluating whether they need to have a big primary physical location as they currently do. A recent survey conducted by Real-estate brokerage firm CBRE (Coldwell Banker Richard Ellis) estimates that as an aftereffect of the pandemic, the need for office space might be reduced by a minimum of 15%. Employers should analyse the workforce and decide whether to continue with a workspace or not.

While most of the employers are welcoming the new vaccine programmes, psychologists warn that workers shouldn’t make any drastic changes to their back-to-office plans yet. Sudden routine changes and extra stress would be something employees could not bear right now, mentally.

Despite all the existing confusions, one of the creators of the Pfizer vaccine – Professor Ugur Sahin, told the BBC in his latest interview that he doesn’t expect life to return to normal until the end of winter or beyond.

“It’s not a complete reset, but it’s an injection of hope in the workplace. Things will get back to normal. It’s now not just this never-ending cycle of pandemic. There’s hope on the horizon. ,” says Cathleen Swody, a psychologist and co-founder at consulting firm Thrive Leadership.

How to plan the scenario?

While there are no legal issues preventing businesses from mandatorizing vaccines, it puts an additional strain on the HR departments and could raise conflict between employer and employees.

And while many people are eager to return to an office with a clearly defined workday and hours, there’s certain to be a contingent who have gotten used to the relaxed dress codes and late wake-up times of the no-commute life. Work routines might get altered drastically and its effects on the current workforce will be unpredictable.

A few employees may likewise find that there are no positions to return to. The World Economic Forum’s Future of Jobs Report, published lately, stated that the COVID-19 emergency could prompt an acceleration in automation and robotization, which could have long haul ramifications for workers in some industries and job sectors.

The technical upheavals like AI and ML which were in their outset in the past are now quickened and intensified along with the pandemic-induced recession. It is of expanding criticalness to grow social security, including support for retraining to dislodged labourers as they explore the ways towards new open doors in the job market.

At last, the effect of these vaccines on getting employees back to the working environment will ultimately rely upon the employer. A few positions, similar to school tutors, work better with face-to-face association. Others, for example, marketing, don’t really have to have employees in the workplace to take care of business. Then, numerous professionals with children won’t have the option to try and consider getting back to an office full-time until basic administrations like school and childcare are back up and running.

Role of employers in vaccine management

Uncertainty of the effectiveness of the vaccine will be a significant impediment to convincing people to get vaccinated to accomplish invulnerability. Managements, working with government and state wellbeing offices, can help tackle this issue. To do as such, they should tailor their missions to nearby networks. The planning should incorporate comprehending your populace, tailoring messages and channels, being honest, influencing information and examination, addressing obstacles and boosting positive morale.

Right now is an ideal opportunity for managers to venture up and be a role model in providing answers to the worst pandemic in the century. Taking the right actions now will aid the employees as well as employers in multiple ways. Although some employees might not be much excited about getting back to work, some who are missing fixed office hours and planned routines might feel like getting vaccinated is the right choice. Making vaccination mandatory might raise questions about employer morale and ethics.

Anti-vaccination sentiments are raising questions all over the globe. Deciding whether to stick to it or not should thoroughly depend on the type of workforce you have. Remember that employees are the greatest assets of a company. Along with resolving health concerns, recognition, and appreciation also matters when it comes to workforce management.