I shared recently that it’s not all doom and gloom and COVID-19 is NOT going to bankrupt all offices. Companies are not going to allow all employees to work from home unless the circumstances force them to. The reason is simple, the cost of monitoring the effectiveness and efficiency will go up and come on… if the staff says their broadband is slow and thus they could do not perform to expectations, what would you do?
I know, I know, everyone is hardworking by nature and there’s little need to supervise. Just let the staffs be and they will perform and the company will perform and everyone will be happy with the potential bonuses and increments too… I have been involved in the recruitment industry long enough to tell you that working in an office is definitely needed for most roles and most companies. Period. Before you counter what I say, well here’s what the CEOs say.
See that first and foremost comment? “Arrange for employees to work remotely.” This is their response to COVID-19. This also meant that these employees would need to be equipped enough to work remotely. The hardware, the software, the supporting teams, all these meant that the demand for these will continue to happen after COVID-19 because many companies would not want to be caught in such a situation again. Having staffs unable work at all and still having to pay them full salaries? WOW….
So to me, the GDP growth is most likely to be negative this year as our MCO has been extended till end April. Here’s that latest forecast. However, the stimulus package has been released pretty fast and this should be enough to sustain the most vulnerable group for a while. The demand for goods and services post-MCO is likely to continue. If we need a home because the baby is arriving, we will need a home. If we need a haircut because we are scared to allow our wife to cut our hair, we will still need a haircut. Perhaps the timing may be an issue but demand continues. Please stay at home. You are a front-liner just like me. Thank you.
Next suggested article: No matter how much you save, it may not be enough anymore