Its been a punishing week on the Australian ASX and in the last week of February 2020 sellers spurred on by the panic and threat of coronavirus have wiped some $210 billion in value from the Australian stock market. The American S&P 500 endured a 10% correction in the same week. This was historical in that it was the worst trading week in terms of loss since the GFC of 2007-08. The Australian Government has activated the cautionary stages of its pandemic plan. Effectively Australia has initiated plans and strategies around the logistics and treatment necessary to respond if the virus hits pandemic proportions. That translates to hospitals being on alert, preparing the medical workforce , stockpiling medical goods and establishing emergency respiratory clinics. The world markets have been similarly battered and its a twin tsunami which rumbles the world economy and it involves an emergent and strange new virus with characteristics described as wily and intelligent. At a local level it threatens a breakdown in supply chains and travel across multiple sectors and manpower disruption. It also conflates with the fact that this invisible and unknown virus provokes market panic and destabilises Australian commerce. Tax receipts and business alike will be impacted. The Australian Reserve bank is likely to keep interests at low levels or even move them lower if markets continue to fall. In short it will make things unpredictable for a season.
One expert, a Professor MacKay (Uni of Queensland) who is quoted by the Australian PM has said that every one is likely to contract coronavirus, but for most, it will be no worse than a bad cold. Historically minimisation of threat or impact is what Governments do. As yet the morbidity or mortality rate of the virus is still being measured, albeit using Chinese figures, which have to date provoked skepticism.
The virus it seems will eventually spread though the Southern Hemisphere. Some earlier reports suggested at a slower rate and it may be more containable. On the other hand it may not be containable. There are at this stage unknowns about this virus. I will not add to any speculations or fear mongering except to repeat the some alerts that the Australian governments are asking people to practice basic health and hygiene .
In each office
- hand sanitation/washing stations
- protective masks
- frequent disinfection of public surfaces
- prompt removal of rubbish & waste
- flexible working hours & arrangements
- HR support for any employees reporting symptoms of sickness
If anyone has already travelled to China or other geographies in Europe where there is high levels of infection in the previous 14 days or plans to travel , Companies would prefer that returning individuals work from home for the 2 weeks following ,and consult a Doctor (especially, they add ,if you are experiencing symptoms of sickness).
If the virus intensifies
Cancel non-essential travel to China and emerging geographies that might have reported an escalation of cases . Avoid crowded gatherings. The UK government is already seriously considering restrictions on large gatherings over 5000 people.
Reduce non-essential travel on public transport particularly during peak travel hours
You may have to wear a mask when crowds are unavoidable, when around sick people, or if feeling unwell yourself.
Practice hand hygiene (soap and water for 20 seconds when possible, otherwise alcohol hand rub) and avoid touching your mouth, nose and eyes
Consider delaying elective surgery or non-urgent appointments in government hospitals for at least 14 days. Allowing crowded government hospitals to concentrate their resources on sick patients and infection control.
Dealing with the unpredictable and large and loud events of history. An Inwit perspective.
Our lives are intensified and made louder by 24 hour media and social medias impact. This is definitely a social media pandemic as well. It’s also a first in that public health is just ahead, and on top of the agenda rather than economic drivers at Government levels. It will be difficult to avoid hourly news about this Virus. In itself that can become very wearing. Colleagues in Hong Kong report Corona Virus fatigue. People who haven’t even got it are sick of hearing about it. As far as the plethora of social media comments are concerned, any event like this will have multiple commentators from the informed and reasonable to the deliberately vexatious and sociopathic.
Rumours and extravagances will be in abundance. Conspiracy theories , political themes , pseudo scientists, religious and secular doomsayers and new age scammers will come out of hibernation for the Corona virus. Anxiety is contagious. The more anxious people are and the more overwhelmed by information , the more vulnerable they can become to the strongest words expressed. Minimise your reading to official government blogs or sites. Choose one or two reliable Government resources for information and don’t google search — that’s our advise.
When Inwit works following a critical incident its very important that we stick with our strategies and goals. One thing we need to do is to concentrate on what we can do and what we are skilled to do in a critical episode. We assert our competences. We stand aside when others need to work in their own areas of competency. By translation a major episode like this needs to be responded to similarly. Just get on with your job or life task with a focus. Don’t be distracted by the loud stories or ‘what if’s “ or fears that others will talk about. Anxious people think aloud. One portion of showing leadership in crisis and modelling resilience requires filtering unsubstantiated stories and narratives that lead no where and dealing with the escalation of anxieties.
Despite the current media interest in these Viral matters, it will also pass. Even the media has limits as to how long they can flog a story. Inwit were also involved in debriefing during the Australian bushfires. These matters appear for a season and then move on. That does not discount the awfulness of lives lost . But as a rule every crisis has its own time frames . There are two ways at looking at time frames in these matters. If you ask an experienced farmer when a drought will end ? The answer is usually - “when it rains” . We like to work in time frames and put things in boxes as it makes things easy to predict and plan for. Like a drought finishing. It will happen, sooner or later. But like the drought ,when the rain comes.
Having said that, Inwits’ observation in 100’s of critical episodes over decades is that intense human episodes can be sustained at heightened pitch for 6-8 weeks. We may well have a series of cycles. Beyond that respite or divergence or reorientation takes place in some form. In this case it does not mean that the virus will go away after 6 weeks, but it will mean that people and the society around it will have made adjustments and adaptions and not be as focussed or consumed. If I’m addressing critical response group or a board I will start by saying something like ‘we are now almost 72 hours in, or we are at the middle of Week 2’ and I will have a sense where on the ’map’ the crisis and the people involved in it are. Inwit will use sets of developed criteria to assess, but at base line, the 6 - 8 weeks time frame has been a very practical way of navigating crisis.
Where Inwit Consulting can respond with companies in the Employee assistance space.
If the virus intensifies in Australia, there will undoubtedly be measures by Companies that will be initiated. These plans are already in place around minimising exposure as well. At this time of writing we have had conversations in Hong Kong. It is where the virus has been experienced at first hand. There has been a practice to isolate individuals from offices on home leave for 2 weeks at the height of the first China outbreak. If Australia follows similar practice in the near future then similar strategies will likely be duplicated. Initially it can be seen as an imposed respite from work. However, the concerns are that considerable anxiety and isolation takes place in that quarantine space along with the experience of being effectively under something that is obliquely like house arrest. Also this might include children excluded from school after shutdown or partners whose work is also in suspension or who have been asked to work part time. The novelty wears thin very quickly. Our own role as an Employee Assistance I suggest might be the following.
The Corona virus is unsettling and patience and deliberate leadership is necessary. As with any crisis or transition through difficult seasons you should never bend to the pessimism or voiced anxiety around you as it crushes the spirit of people. Similarly ,don’t give over to false hope or unsubstantiated or wishful thinking.
One of the ways ahead is that people know they are part of a community whether it is a work community or a wider community. The employee assistance service recognises its own role in maintaining morale within workplaces in partnership with Management. Unpredictability is part of chaos. Unpredictability breeds uncertainty. Uncertainty in turn creates dislocation and anyone exercising leadership or attempting to assist in a critical episode needs to provide truthful certainty and realistic and calm hope. Keeping in contact with staff and and being available cannot be underestimated.
Our experience also suggests that when the unpredictable comes some people are just better at coping than others.
Inwit Employee assistance can be called by participating Company staff at 1300 077 862 a service on the phone will both listen and attempt to resource or support employees under the quarantine circumstances.
Family tensions and patience is potentially tried during stressful times so the Employee assistance service is available in that zone as well.
Times and seasons like this can also be trying. Getting cold or a flu is a time which has to be put up with and can be quite depressing in its own way. Getting flu symptoms and recovering in the context of the Corona Virus might add different emotional and psychological dimensions. We are there to support.
