AZ Digitals Blog

The various sectors of the Canadian economy have been affected due to the pandemic COVID-19. The impacts started to happen since the virus started a few months back. The pandemic clearly showed its deadly nature in the form of impacts on the whole world. As it started from the Chinese province Hubei, from an animal market in Wuhan. It has deeply and semi-deeply affected at least 60 countries worldwide. Furthermore, partially affected almost all the continents of the world including Africa.

The risk factors identified by continent North America are too many especially in terms of travel, trade, and hospitality industry. With respect to the sufferings in the United States of America. Canada is a huge country that has suffered in some provinces. While in others the effects are not that drastic but still evident.

In line with the pandemic COVID-19, the risks factors associated with the Canadian economy are as follows;

RISK FACTORS

• Demand for Products & Services

  There has been a huge gap between the demand for products and services and supplies. As Canada came into complete lockdown, people stayed home. Therefore, that is a huge factor that affected the demands of products in the market. Furthermore, it affected the services industry in Canada. It came into the consideration of the provincial government whether or not each industry is essential. The provincial Govt. further restricted the use of services and products imposing a ban until notified. Healthcare and pharmacies are two of the few essential services that were open to people to minimize the impacts.

• Nature of the Process of Production

  The nature of the production process also changed with time as the COVID-19 showed its impacts on the Canadian economy. The question that arises now is. Do we Need employees to be Close together? Hence, for the production of good and delivering services? However, some operations and processes became automated limiting human use.

  However, even in Canada, the processes can’t be fully automated irrespective of radical change management strategies.

• Worker Availability

  Most people in Canada are under self-isolation due to complete lockdown. Hence, the availability of workers in such a scenario is on the low side. People don’t want to be a part of the COVID-19 pandemic, neither they want their families especially children to have such a disease that can be life-taking. The limiting of activities, especially the senior staff has resulted in the understaffing of the voluntary sector. Hence, automatically increasing the risk factor to the Canadian economy.

• Proximity to others on the Provision of Good and Services

  The level of Proximity to others has decreased, i.e. public contact and on the provision of goods and services. Most cultural, sports and educational or academic activities have been canceled due to the proximity of participants in the delivery of goods and services. This has been the scenario in almost all the provinces and territories in Canada. Several other business activities used for leisure and good time pass are being closed including restaurants and esthetics.

• The vulnerability of businesses in the Industry

  The sectors of the Canadian economy are divided into and made up of a huge share of SMEs i.e. small & medium enterprises. They are like the building blocks of a strong economy and acts as a shield in hard times.

The SMEs have been affected in such a way that they are lacking the cash flow to offset huge revenue losses over longer periods. Hence, the sustainability of SMEs due to COVID-19 has been a national level challenge for Canada.

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THE AFFECTED SECTORS OF THE ECONOMY

Almost, all the sectors of the Canadian economy have been affected due to the pandemic. However, some of the sectors are discussed below;

Food services & Accommodation

A major setback in the food services and accommodation sectors resulted in shutdowns of many restaurants and accommodation services. A restaurant Canada survey of the food industry revealed that many restaurants were considering a permanent closure of their services in the wake of COVID-19. The Hotel Association of Canada revealed the stats that the hotel occupancy was less than 10% across the country.

The tourism industry association also revealed some worrying stats that the industry can lose up to $6 billion per month due to the pandemic and nearly 778,000 jobs in total. The domestic tourism activity is still persistent as domestic flights are running with precautions. The spending in the industry accounts for 80% of the economic activity and this can increase as well if Canadians prefer staying in Canada for their summer holidays. It would take at least 1-2 years to bring stability to the sector due to the impacts of Covid-19. Obviously, the tourism industry has been a major source of revenue for Canada.         

Transportation

The transportation industry i.e. Airlines, trains, buses, and coaches all accounts for a huge revenue generation and part of the daily economic life cycle for Canadians. People working close to Toronto, and living in suburbs prefer traveling from trains. Hence, the provincial govt. also banned public transportation due to valid reasons for lockdown. Since the beginning of the pandemic, the taxi companies saw their passengers count going down by 75%. Currently, it must be close to 90-95% as all modes of transport are on closure.

The scenarios related to road transports i.e. truckers delivering from Canada to the USA and vice versa has been on a little rise. This has been primarily due to the use of online orders as they are delivered via road transport. However, strict rules are still applicable for truckers and all delivery vehicles.

Arts, Entertainment & Recreation

Canada has been a center of arts, entertainment, and recreation for almost 50 years, primarily due to vital contributions in the Hollywood industry as well. The Toronto International film festival is one of the most visited and famous film festivals in the world and is for international audiences from all around the world.

The pandemic has largely affected all kinds of arts and recreation activities in Canada, especially due to international travel restrictions from outside Canada.

Oil & Gas Extraction

O&G sector has always been on the rise in Canada with Oil & Gas extraction activities taking place in Canadian territories and provinces on a highly regular basis.

The oil prices have fallen significantly due to the pandemic and thus there has been a decrease in demands for petroleum products. One of the major oil projects i.e. Bay du Nord project off the coast of Newfoundland and Labrador has seen the impacts closely & has been put on hold.

Retail Industry & Trade

Impacts of COVID-19 have resulted in the closure of the retail industry, shopping centers, and many famous outlets and shopping arenas to a complete closure for a specific time. Canada known heavily for its shopping trends and culture was specific in banning most places that are for the general public. The exceptions hold for the necessities i.e. grocery and pharmaceuticals industry i.e. the pharmacies.

However, in some cases, online shopping is seeing stronger growth and this has been the trend in all provinces in Canada since COVID-19.

Manufacturing

The manufacturing sector has been less affected than the other sectors in Canada and the main reason is that the manufacturers are able to build inventories.

The majority of auto companies in province Ontario have temporarily halted the production for the sake of worker’s safety. Another reason being a weaker global demand which means a general halt in major operations in Ontario auto companies.

Elsewhere, in Canada the companies have ceased operations, however, aluminum smelters will cut production. The industry will definitely get back to their target achievements soon after the pandemic gets over, with recovery time may be less than a year.

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Remote work access or working from home during COVID-19 is what most companies are looking forward to. This is obviously a huge determining factor as organizations big or small in many countries are under the rules of lockdown. Remote work has definitely increased the success aspects while being positively effective in the digital world where internet use is a vital element to combat challenges of work and communications. Work challenges and work ethics are all part of the organizational behavior and strategies of work. This is especially critical during the current times of COVID-19 i.e. The Coronavirus.

Work from home is a self-motivating attitude that triggers the mind to work effectively in a totally different way. Ironically, you as an employee of an organization is working on his/her own responsibility remotely from home. This largely means that you are not in the environment or culture, but the virtual memory is always triggered to follow strict work ethics. Working in a team environment remotely is also possible via the effective use of communication tools. These include Skype video conferencing, Chat boxes, WhatsApp, and other video conferencing tools updated with the modern digital environment. Hence, now the work environment is more towards the digital and remote working environment.  Here are five effective tips for working remotely.

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PROMOTING REGULAR CHECK-INS

‘COVID-19’ and similar pandemics and disasters have caused many people to work remotely while social distancing at the same time. Regular check-ins make sure for the management & HR that the employee is working on his designated task as according to the desired team plan. As working from home makes you more into your own head and the attitude is self-governing. This is also a key reason why it is highly important that employees do check-ins regularly.

A huge step forward in your work settings making your sense of responsibility sharper and filled with positive energies. Regular check-ins after every 90-100 mins on either skype or any video conferencing tool is a good opportunity as well to interact. Works means huge success after positive interactions with Co-workers and it gives you a huge attitude.

Employee motivation is an aspect that leaders should exhibit even in remote working environments. It shows how much respect you give to work, and how much success you can attain from efficient task management. Just to have an alignment of what you are doing and making sure regularly that it fits the larger picture. Hence, you need regular check-ins more concretely as part of effective team management strategies.

MAKING POSITIVE CONNECTIONS WITH COLLEAGUES 

Making positive connections with colleagues is part of the organizational management policies and procedures. It is effectively important especially if you are working in a team environment. It helps in a huge way in making you a key team player and an effective co-worker. To find a reason to reach out to somebody is a super important aspect of working remotely or from home. There shouldn’t be any communication gap or basic communications lagging for effective results. The best thing is that you don’t take things for granted and don’t think negatively that people don’t want to hear from you.

Ironically, people want to listen to you and your suggestions if you are a key member of the remote working environment. Setting the rules by management or HR is necessary. These rules are for how to reach out amid Coronavirus, and what’s the best way to make useful interactions. Being a business leader, what’s important are the rules and useful implementation of these rules with ground realities. As we speak of it, COVID-19 is a ground reality faced in current times and already outlaid massive impacts on the world’s economy. Finally, what’s more, important precisely in the framework of communication and how successful it can be for future agendas.

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UPDATE COMPANY POLICIES TO REFLECT ‘COVID-19’

In the current times that are declared as a state of public emergency by many provinces in Canada. There is a huge need that arises as part and parcel of the global awareness measures while working remotely. In addition to the awareness, keep updating company policies regards to COVID-19, and its counteraction. It’s the sole responsibility in light of the change management policies that the HR Dept. has to have some of the company’s policies updated.

However, the best idea is to revisit policies to make sure that those things are updated. The problem is just not a company problem, it’s an overall humanity issue. Hence, it’s everyone’s responsibility to take care of each other in these circumstances that are critical.

RELAXED RULES AROUND TELECONFERENCING

Teleconferencing should be made an easy-going and relax job while working from home. This is obvious while you are working, you don’t have to be disturbed by your family or kids.

Working from home is an intersection of personal life and professional life. Therefore, it should be handled with a relaxed attitude, since, you are in the comfort of your home. However, having said that, the attitude must stay cool and focused regards to the agendas. There is a huge merging between the two sections, and it’s also showing you the little difference between personal and professional life.

SUPPORT LEADERS & TEAM IN PARALLEL

The support for leaders, team-leads, and team members all in parallel is an attribute of bringing success in remote workings. You got to follow someone while working from home, just to have work pressures and timeliness. Respecting your team members not only creates a bond but also helps in mingling well on a day-to-day basis.

Its mental pressures and mental wellbeing that’s being affected while working remotely from home during the pandemic. Create positive alliances together and work with sharing to have success for future agendas. Just give yourself a brainstorming session and compile some points that are important for tomorrow. Highly important in the most uncertain of times.

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Safety is a huge concern in the current time in the middle of Coronavirus pandemic. Primarily as it is the cause of many fatal deaths current count being approximately 95,000. It has not only caused chaos all over the world but has also given huge financial setbacks to many countries. Originated from China, from Wuhan city and spread all over the world. It happened in days while giving a huge impact especially in Europe and the United States. The best way to save yourself is with the help of safety measures and precautions.

According to stats and news from all over, anybody can be a victim of the deadly pandemic. Further, if an immunity to fight against the virus is less, it can be life-taking as well. The best drug is self-awareness with precautionary measures that are necessary. Hence, the requirement is for a healthy environment and restoring the circumstances as fast as we can.

According to WHO and The American Red Cross. Hence, following the latest guidance from the Centers for Disease Control and Prevention will be highly helpful. For a rapid restoration process, the regulations are all scientifically formulated for practice. CDC or Centre for Disease Control and Prevention has been active for a long time. It has a major history of fighting against many pandemics in past and in recent time.

WEARING A CLOTH FACE COVER OR MASK

According to the instructions from the CDC, it’s important for everyone going outside in public, or for taking grocery or essential daily items. They must strictly adhere to the safety measures and wear a cloth face cover that is vital from germs prevention or a mask would be the best solution. The Virus can be in the air and you can be the next victim, however, a mask or cloth cover can save you from the pandemic. Even if someone is having minor symptoms of COVID-19. The mask and face cloth will act as a shield to save against the virus. Be very particular in choosing a face mask, and its best to buy a fresh one, rather using someone else’s face mask. Please beware and don’t use the face mask meant for a health worker, as your protection is foremost.

SOCIAL DISTANCING

Distancing is a precaution that should be taken for a considerable amount of time in these days. According to American Red Cross and WHO, it’s important that people maintain social distancing, keep a 6 feet distance while conversing, work from home and avoid all kinds of social gatherings and parties to create a safe environment in future. Adhering to the CDC regulations is highly important as part of every individual’s social responsibility.

The govt. of Canada and most countries have announced a lock-down for safety measurements amid coronavirus, which means prefer working from home for some time. Use social media, skype and other media tools on internet like WhatsApp as means of communications, meetings and managing office tasks. A responsible environment is a safe environment as it is a highly aware environment for the future of others. Team working is still manageable while sharing tasks, and making fruitful discussions. What’s important for the Govt. of Canada is to come out of the pandemic as soon as possible. As they have already demonstrated that it’s not about earning profits in current times.

DO REGULAR HAND WASHING

Regular handwashing is a necessity, rather than a precaution to fight against coronavirus. According to doctors and WHO it is a priority for the people to maintain regular hand washing for at least 20 seconds, as approved scientifically.  The use of soaps and sanitizers is a key safety requirement and must be obliged to avoid drastic circumstances.

A literal society can fight against any pandemic with consistent awareness measurements and practical efforts. Same is the case for coronavirus as fighting is a must. Beware that you avoid touching your eyes, nose and mouth with unwashed hands. Germs can be also be prevented by the use of hand gloves if and where it’s necessary.

CLEANING AND DISINFECTION

Make a regular habit of cleaning and disinfecting the household surfaces which includes those who are used very often. The high-touch surfaces i.e. frequently used ones are phones, remote controls, tabletops, laptops, doorknobs, bathroom fixtures, toilets, keyboards, tables, bedside tables and many more. ‘Disinfect’, is a term which means minimizing the effect of a possible infection that can be caused or may have been present. Regular disinfecting and cleaning is a huge necessity for a healthy living environment even in normal circumstances.

COVERING YOUR COUGHS

Make sure that symptoms of cough, sneezes and fever are consulted with a doctor as soon as possible. Covering your coughs with a hand or a tissue will help prevent germs of coronavirus to travel in the air to another person. If your coughs are regular and you can’t immediately go to doctor than isolation is the best way.

The warning signs for severe symptoms include trouble in breathing, persistent pain or pressure in the chest, and bluish lips or face. These symptoms are enough for you to take mandatory action as soon as possible to avoid life hazard.