Not all companies are doing well during the pandemic with a large number of them struggling to stay afloat.
With most people staying indoors and only leaving if they have to, they are handling most of their tasks from home. Amazon is now a household name and the default shopping website. As it keeps getting larger as a company, smaller brick and mortar, shops and establishments will find it difficult to compete with people barely leaving their houses.
Department stores, malls and speciality retailers are also starting to lose business and are laying off their staff since they are not seeing a lot of people entering their stores, since most prefer staying indoors. Big retailers, like Macy’s, Nordstrom, Bloomingdale’s, Neiman Marcus, Saks Fifth
Avenue and Bergdorf Goodman, announced the shutting down of their stores.
Similarly, companies working in travel, hotel, airlines, sporting events, concerts and the restaurant sectors will find it difficult to compete, at least in the short run, or the next two years, until the pandemic is under control. Additionally, COVID19 is causing a lot of changes in the workforce with the idea of remote working and handling meetings over video calls becoming more prominent. In the past, a few companies were in favour of these changes, but now, all who can implement them are forced to, to stay afloat. Furthermore, the move to software and automation to replace people and staff from handling specific tasks is another change. While these changes are a lot cheaper and they are getting as close to the same result as possible, it doesn’t seem likely that they are going to revert to the way that things were.
Manufacturing is going to get hit hard too, with massive Detroit automakers, General Motors, Ford and Fiat Chrysler, all announcing that they will suspend operations at their factories in the United States. Several reasons for this could include finding a cheaper manufacturing market, like China which might significantly save costs. Another reason could be the pandemic, which is keeping everyone at home. While this is the case, most people are not using their vehicles the way they used to in the past. Furthermore, people are not sure about the future and would not want to put money down on a big investment like a car, so would prefer using their previous one for as long as possible and consider changing it in the future.
With most countries keeping their borders shut in light of the Coronavirus, International travel to most parts of the world was for the longest time, temporarily suspended. Businesses and companies have generally prohibited business travel as well, with families afraid to fly in fear of getting infected.
With so many changes taking place across the board, companies are working on adapting to the new changes and dealing with their teams handling video calls for their internal and external meetings. Employers, in some cases, are working with people on their team, who they have never met. Such changes are the reasons behind employers handling background checks on their employees. While some jobs need background checks, most companies are looking at these as a mandatory requirement. Employers can get this information through a DBS check where it would inform them about any criminal records that the applicant might have. This information might be relevant for some positions depending on the job description. To make the process faster, they can even the DBS check onlineas well, which is a lot more convenient.