COVID-19 Accelerated New Realities, Companies Need to Respond Accordingly

The COVID-19 pandemic created economic volatility and exposed inequalities. As a result, businesses are having to set new standards around their diversity, equity, and inclusion (DEI) efforts. 

One of the UN’s Sustainable Development Goals is creating more inclusive and sustainable economic growth; with new work and social realities created by the coronavirus pandemic, companies need to identify gaps, prioritize wellbeing, and reshape the dialogue. 

For example, the pandemic has disproportionately impacted women and men, as well as minority groups; with the World Economic Forum estimating that the pandemic set equal gender pay back by a generation. Some companies are responding to this by providing more caregiving benefits and allowing for more flexible work. 

Wellbeing is also a key priority moving forward for employees to thrive and to decrease stress and other health conditions caused by stress and long working hours.