The unprecedented COVID 19 pandemic compelled the national lockdown which froze the entire spectrum of economic activities and also brought the social activities to standstill. More than two months of lockdown have played a major role in containing the spread of virus and is probably inching closure to the exit gate wherein barring the regions located in the Red Zones, the wheel of economic and social activity is expected to stumble back to partial normalcy in Green Zones and Orange Zones. Though the lockdown has been extended upto 31 May 2020, it has dawned on the policy makers and think-tanks that extending the lockdown for indefinite period will be disastrous as India does not have the requisite resilience to sustain the resultant economic shock. The fear of community spread of virus still looms large, and hence there is a caution, and graded approach to open up the economy. After having ‘Saved the Lives’ the phase of ‘Saving the Livelihood’ begins. Unlike other segments of the industry, the PSI has been very vibrant and quick to adopt itself to the challenges and the evolving environment which is prominently visible.
THE IMPACT
The sudden crippling jolt of the national lockdown did not give reaction time for due diligence, planning and structured response. Some of the major fall outs of the COVID 19 lockdown can best be summarized as under:
- Restrictions on commuting brought the pivotal role of national command and control centre to the forefront for running the operations by the security providers.
- Fear of the termination of service contracts left security providers with no choice but to continue running the business with downsized man power at client sites.
- Representations from PSI were well received by the MHA, Finance and Labor Ministry in the matters of GST, PF and ESI.
- Deep cuts in revenue had to be taken by service providers with a pinch of salt due to complete freeze in business activity in Multi-Cineplexes, malls, hotels, resorts, education institutes and e-commerce ventures.
- Despite raising the bar to the highest pedestal of law & justice – the Supreme Court – the salary of the security guards as per pre COVID 19 contractual terms will have to be paid by the security providers. PE has brazenly refused to honor the contractual terms by invoking Force Majeure.
- CAPEX plans had to be frozen and laid to rest till the situation becomes normal and suitable for review.
- OPEX is likely to take additional knock on account of kitting with mask, gloves, thermal sensors etc.
- Gross deficit in cash-flow has surfaced as stark reality since business of clients came to standstill.
- Cost cutting turned to be most preferred word in the corridors of PSI.
- The concept of Work From Home (WFH) has got validated.
- Business travels were brought to naught, but the business did not come to grinding halt.
- Virtual video conferencing through ZOOM or other Apps facilitated frequent interface within the industry, management and with the clients.
- Social distancing became the norm through NAMASTE.
FUTURE ROAD MAP
The lockdown period of COVID 19 has laid out the turf for many new concepts and work culture. Some of them which are likely to become part of the Best Global Safe Practices are illustrated below:
- Containment of CORONA virus will be the main focus of the law enforcing authorities, and law and order will take a back seat.
- Use of mask and gloves will be accepted as part of the attire.
- Thermal sensors and AI enabled mass thermal screening of employees will become standard practice.
- AI enabled face recognition technology is likely to replace the traditional access card and thumb, iris or finger print dominated biometrics for attendance at work places.
- The social distancing will take the center-stage and will necessitate the re-organization of the work place.
- Work in shifts, whereby 30% of the work force to work at any one time may be an established practice.
- Work on alternate days from office and home could be an option to avoid issues of parking space.
- Work from home or make your workplace your home, will become preferred option to avoid expenditure on electricity, air conditioning of offices and house keeping.
- Business travels will be cut to minimum to reinforce cost cutting.
- Tight control is likely to be exercised over all office expenditure.
- Frequent business meetings through ZOOM, SKYPE, WhatsApp will replace physical gathering.
- Business reviews will be either done online or through virtual meetings on above Apps.
- As a cost cutting measure, promotion and incentives will be done away with for the current year.
- Cost cutting may also transform into job losses due to lay offs.
- Source of revenue generation will become future thrust lines.
- To prevent loss prevention AI enabled search of baggage & personnel may become necessity.
- Incidents of theft and pilferage will increase at manufacturing plants and ware houses.
- Drones will be widely used for monitoring the crowding and non- compliance of the social distancing.
CONCLUSION
The PSI unlike the other segments of the industry like manufacturing is not confined to one plant or premises but has footprints over diversified businesses. It enjoys the status of essential services and still has the avenues open for running the current business and its expansion. Thus PSI does not suffer from the full-fledged closure of their business activity. Taking the one time knock of loss to bear the burden of salary may be life time benchmark of loyalty bonus for the noble cause towards the humans who served the organization. Lockdown has presented many opportunities for refining of work culture, redefining the health & hygiene norms, adoption of new innovative technologies and business ethics. These are unprecedented difficult times. Sailing in the turbulent waters is not easy but an experienced and seasoned sailor will adjust his sails to brace the tornado/ storm and will arrive at the shores of his destination. Let’s see the positivity in this gloom, golden opportunity in the despair to chart our future roadmap and be the differentiators. Let the time be witness to our conscience. ‘Tough times never last – tough people do!’
