A serious global outbreak known as the Corona Virus or COVID-19 has resulted in many jobs around the world being affected in some way.
With the exception of those working under "Essential Services", employees and employers are now required by the Singapore government's new law, to be working from home. While there may still be further exceptions made for those who are unable to do so, the Singapore government has gone further into limiting the amount of people allowed to work from a designated workplace.
Amid the COVID-19 outbreak, several industries such as the aviation and tourism industry have been badly affected worldwide. Many aeroplanes have been grounded, following a sharp fall in potential tourists and travellers. Many employees from the affected sectors have also been retrenched in a bid for the company to cut its losses. Other companies have taken less drastic measures in order to cut losses, simply by cutting a percentage of employees' salary.
What does this mean?
Employees' morale may be negatively affected due to their salary getting cut. Working from home may also result in a significant fall in employees' productivity, as they are working with the comforts of home and other potential distractions.
Unemployment rate will also rise in Singapore. This also means that more people would be keen on finding a new job, and may even consider switching career paths to obtain a new source of income during this difficult period.
However, these changes are inevitable,
Adapting to the new lifestyle, people have become used to working online. Modern technology has many offerings, some of which being the development of the Internet and the efficiency of computerised systems. This means that even traders can work from home.
In times of desperation, job preferences may change. Whether the change is good or bad, we can only learn to adapt and live with it.
As a co-working space, TradingPLC is temporarily closed following the Singapore government's Circuit Breaker guidelines. However, more changes will be coming once the Circuit Breaker period has ended.
So feel free to book a meeting room, rent a work desk, or take up a private office space with us. We will be sure to see to your individual needs.
It will be our pleasure to see you soon.