The suddenness and severity of the Covid-19 slowdown of economy is so unprecedented, that share markets world over crashed, the most prominent global events- Tokyo Olympics and UAE’s World Expo 2020 got postponed by one year. A number of other events have been modified to remove a live audience or to be purely held online.Covid-19 outbreak hits governments, professionals, companies, executives, employees and daily wage earning labours hard. Suddenly, there’s war at every front and for every corporate and individual; the biggest challenge right now is continuity of business and employment and to manage pay cuts, delayed receipts, job loss. Nobody knows how long it will last and how soon world will bounce back.
How to respond to this challenge? Below listed tips may help you deal with the never before pandemic situations of 2020:
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Your health should always be your No. 1 priority. If you are not in good shape physically, mentally, and emotionally, both your work life and your personal life will suffer. Take care of yourself by eating healthy food. Physical and breathing exercises and meditation can help build immunity and bring down stress. Not to forget social distancing, masking, washing & sanitising.
Financial Discipline: Have quick look at your savings and commitments and draw out a plan to reduce expenses with care not to hit any individual of the family but seeking equated sacrifice from every member. Analyze and rearrange your investments addressing current realities. The lockdown may have helped you realize that basic living expenses aren’t very high. It’s the discretionary expenses such as eating out, travel and leisure, and buying luxury goods that burn a hole in your pocket. Organise your finances to sail through this crisis by rearranging your investments to earn more and extending EMI’s taking advantage of concessions offered by central banks. Renegotiate your rent and monthly payouts or look for alternate options. Revisit your insurance requirements of health and life.
Look at generating other income through freelancing of service related to your skills and experience. Giving online tuitions, conducting hobby classes or teaching a foreign language are not only income generating examples but stress busters and positivity boosters for you.
Learn New Skill: Covid-19 will speed up practice and acceptance of so-called “gig economy” altering the way people view and perform work. One of the main differences between a gig and traditional work arrangements is that a gig is a temporary work engagement, and the worker is paid only for that specific job. In such a scenario only those equipped with right skills and attitude will be approached and preferred. Retention and pay out will be based on merit, throughput, and honesty. Its time to take stock of your skill sets and enrol with an online course to learn the most sought after skill so as to polish your LinkedIn profile.
Set your goals and Schedule Scrupulously: Successful people plan their work and then work their plan. Date planner- whether paper or electronic, is the tool by which you turn your priorities and goals into reality. Set aside 10 to 20 minutes at the beginning of each day to plan your tasks and activities for the day ahead.
