Due to COVID-19, every business is now hyper-aware of the costs an infectious disease can bring. We recently wrote about the cost of doing nothing about COVID-19.
The truth is that infectious diseases have had a massive impact on businesses since, well, forever. In 2018, US businesses were told to expect to take a hit of at least $15.4 billion in lost productivity due to the flu. If you extrapolate those numbers out 50 years, the cost of the flu adds up.
Every day, infectious diseases have a real impact on businesses. In our view, there are several reasons why businesses will remain more vigilant following COVID-19.
Shareholders will demand it
Mike Tyson famously said that “everyone has a plan until they get punched in the face”. COVID has certainly been a punch in the face that has blindsided businesses. Shareholders across many industries have had to accept, at best, dividend and share price erosion, and at worst, business loss - all completely out of the blue.
Scientists now predict that there will be a significant pandemic event every five years. Company executives and directors who don’t have the tools in place to cope with a major pandemic will suffer shareholder wrath.
There will be an expectation that businesses can rapidly contact trace at the touch of a button. With technology like SaferMe, we can now see the punch coming.
Health monitoring tools are too easy to use
Is there still a role for health tracking software tools beyond the pandemic? The answer is of course yes. Now that people have started to use daily health screening software, this process will be the new norm for everyone every day to help reduce the impact and cost of more common infectious diseases like the flu.
Lazy worker syndrome be gone!
Previously, an employee that called in sick may have been viewed as lazy. This perception came from a culture where employers focused on the loss of productivity of one individual. But if one team member gives 20 others the flu, what is the cost of that to a business?
Sick people will be given tools to report when they are unwell, advised to stay at home, and if able, work remotely until they have recovered. No judgement.
The new normal
New businesses will spring up from the ashes when COVID is gone. After they have bought their email software, they will buy a subscription to a workplace infectious disease solution and use that as an insurance policy. The prepared will still be operating when the competition is long gone.
As you plan for the future of your business, be a leader in ongoing employee health and business resilience by using software like SaferMe.