Covid lessons for entrepreneurs

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Covid lessons for entrepreneurs

Friday, 26 February 2021 | Pritika Singh

Covid lessons for entrepreneurs

It’s vital to be calm, think rationally and make decisions that affect your work environment positively

The year 2020, and the Coronavirus outbreak that dominated it, set everyone back, whether it was work or life. However, the contagion’s economic impact was felt more than the social one. The financial implications of the pandemic had everyone in a tizzy, confused and thinking, will I make it? Will I survive? It took a toll on the global economy, businesses, work, personal affairs at home and made everyone question and rethink their priorities and then put them in survival mode. One of the key takeaways from the outbreak, especially for entrepreneurs leading organisations was: Invest in your mental health. That is and should be a priority. If you have peace of mind, in spite of everything else falling, crumbling around you, half the battle is won. It’s important to be calm, think rationally and make decisions that affect your health and your work environment in a positive way.

The healthcare sector was overwhelmed when the pandemic hit the country. Doctors and nurses were overworked as was the other hospital staff. People were in a state of panic. However, there is no overcoming something if you are in a constant state of flux. This is especially true of leaders tasked with guiding an organisation. They have to come to grips with the reality that the pandemic will stay for a long time and the only way to work and move forward is to be transparent with staff, hear them out, value their inputs and look after them.

The biggest change that the outbreak brought to our lives was  the need to maintain social distancing, which gave birth to the culture of work from home (WFH). Hospitals were overflowing with Coronavirus patients and medical professionals were in constant contact with people, other than patients. It was important for most medical facilities to cut down on administrative staff and allow WFH in order to curb the spread of the contagion. This move gave doctors and nurses free movement, enabled quick decisions and resulted in quicker turnarounds.

As the CEO of a hospital, it was amazing to see people adapt to two roles and the extra workload more efficiently and quickly. It made one realise that the biggest learning from the pandemic was WFH. It  changed the way we function as human beings and value the time and effort that someone else puts in. It also increased efficiency and kept employees and their families safe.

There was a lesson for leaders as well. If you take tough but benevolent decisions when you are the head of an organisation, people value you more, respect you and put in that extra bit to make sure that the company succeeds. Cutting down on manpower and cost-cutting is never the solution. The mental health of staff is very important, not just good salaries and, employees run a company based on the top leadership’s vision.

Another lesson that the contagion taught us was the fact that women, who have always been a stabilising and calming factor in society, are equally adept at dealing with an emergency. During this pandemic, women Covid warriors, frontline workers, office-goers, homemakers and Government employees rose to the occasion and in some cases were leading from the front.

Lastly, technology has come to the rescue of mankind as we have been forced to change the way we work, handle documents, process information, hold meetings, seminars and even deliver healthcare. One also has to realise that even though we are in this situation right now, it will change and things will go back to normal. But for now, we need to learn and adapt to this so-called new normal. Entrepreneurs, especially women leaders, have to learn and grow from this.

(The writer is CEO, Prayag Hospital. The views expressed are personal.)

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