COVID 19 is spreading into the world as a death monger. However, there is also hope while a small percentage is recovering as of now. In India, approximately 50 people recovered out of more than 500 cases.
COVID 19: Outlook of the Tech Industry
With the statement of a will to return back to work and save the economy from Donald Trump, it is evidently proved that even the superpowers like the US are worried. A good number of Tech Companies are based out there, thus, a lot depends upon how these countries get through and what will be their action plan to get through this pandemic. Here in this blog, we are going to discuss the possible steps that can be a part of a quick action plan for the Tech companies to tackle the situation.
Stand with your employees:
This is the hour where employees need constant support and motivation from their bosses and management. There have to be precautionary guidelines and safety measures laid down in addition to the regular working policies.
Don’t lay off your Employees:
In order to keep up the morale of your employees, don’t lay off them. In any Tech Industry, it can be understood that a decline in production has led to a decline in the profits, and thus has also gave birth to issues related to salary compensation. But these are times of test. The Pandemic is temporary, but the employees are permanent. IT Industry with a united mindset can definitely cope up with the development once the pandemic is gone.
Framework for Effective Work from Home:
Being an IT Industry themselves, it is an upper hand to be able to implement an effective work from home structure. A personalized platform for temporary purpose can also be devised in order to carry out the duties and tasks. Virtual meetings online, effective working with a strict laid down structure, getting reports numerous times a day can be some of the measures to minimise the losses to much extent.
Tech Industry and IT Industry: Future Outcomes and Business Behaviour
A fact that cannot be overlooked is that China has overcome this Pandemic now after an approximate three months of despair. Therefore, if the IT Industry there comes back with a kick, then it definitely means that there was an underlying action plan and strategy.
Impact on Digital Market:
The good side of the coin is that though there might be delayed product delivery, the production can stay unaffected to much extent. Therefore speeding up of delivery tasks after the Pandemic curve goes down which can be done by carefully planning a strategy during lockdown days can be extremely beneficial.
IT Industry pertaining to the telecom sector:
Unlike the online shopping trend, in China when it comes to the Telecom sales, more portion of the market is dominated by the offline shops.
Thus, expanding the business reach in China can be an opportunity for IT industry to compensate for the loss of sales due to the Pandemic. Moreover, as life is gradually returning to normalcy, delayed deliveries might not be a major issue there.