Back in April, the Department of Statistics Malaysia (DOSM) released the results of a survey titled “The Effects of Covid-19 on Economic and Individuals (Round One)”. The findings were based on answers provided by 168,182 respondents nationwide.
According to the study, almost 47% of self-employed workers had lost their jobs. That amounts to about 19,677 of respondents. As for those who still had jobs, 35.5% reported a decrease in income by over 90%.
On the global front, the International Labour Organisation (ILO) said that lockdown measures around the world have affected almost 2.7 billion workers. That amounts to four in five of the global workforce.
Their latest analysis shows that the impact of the pandemic far exceeds that of the 2008-2009 financial crisis. In the next three months alone, they estimate that cutbacks equivalent to 195 million full-time workers are expected.
In Malaysia, the gross domestic product (GDP) is projected to contract by 0.1 per cent to 4.6 per cent this year amid the negative impact brought by Covid-19, according to the World Bank. The largest impacted sectors are likely to be foreign direct investment (FDI), commodities, and tourism.
The reality of the new norm
Even though the Movement Control Order (MCO) and Conditional Movement Control Order (CMCO) in the country are expected to end soon, our lives and working conditions have entered a new norm. Mass gatherings and travel are expected to limited until the end of the year.
Many companies are instructing their employees to remain working from home while meetings and conferences are to held online. Courier and delivery services, on the other hand, are set to increase in popularity.
In a post-Coronavirus world, it is essential that we reinvent ourselves career-wise. The pandemic has disrupted our habitual routines and jolt us out of our comfort zones. To help us survive in the professional world after the pandemic is over, we will need to develop some particular skills.
Here are 4 skills that you need to develop to ensure career survival in post-Coronavirus world:
Technology
One thing that can’t be denied is that the COVID-19 pandemic has brought about huge digital transformations. The new norm is working from home, doing online meetings, and connect professionally using social media tools. Those who are not tech-savvy will be left out.
Experts predict that artificial intelligence, internet controlled operations, robotics, and similar technologies will be the future that will help industries grow more resilient to pandemics in the future. Developing an aptitude to learn new technologies and the skill to use emerging tools is something that should be placed high in your priority list.
Leadership
This has always been a feature that leads to success in the career world. But now, more than ever, it’s time to hone your leadership qualities. People with strong leadership skills who can manage team distantly, inspire teammates to work hard, and bring out the best is others are invaluable assets to a company.
Emotional Intelligence
This relates to leadership as all great leaders possess this quality. Emotional intelligence is that quality that helps a person to understand other’s emotions better and express or control his or her emotions well. It is a critical skill to have during the stressful period that we are in today.
Multitasking and organizing
People are discovering that working from home is not as easy as it sounds. This is especially true if you have a family. With school closed-down, our ability to multitask and organize has magnified in importance. People with the skill to adapt quickly to changes would be of great value to their workplaces.
Personal Financing may help you if you’re hurting financially during COVID-19 outbreak.
Is now a good time to get personal financing? In normal times, you’d consider the interest rate as a primary deciding factor — and you’d compare different products from multiple financial institutions to get the lowest rate. But now, in challenging times and less steady incomes, there are additional questions to ask. We answer those questions in our article here.
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We keep your financing completely free from unethical elements including riba (usury), gharar (deceit), maysir (gambling) and zulm (immoral practices).
The service is provided free, simple to use and you will be matched instantly. Apply now and get approved in no time!