Faculty of GL Bajaj Institute of Management & Research, Greater Noida attended an online webinar on the topic “Covid Impact: Revival Strategies for the post-pandemic phase” which was organized by All India Management Association (AIMA) on Friday, May 22, 2020 under the visionary guidance of Dr. Ajay Kumar, Director, GLBIMR.
The panelists of the session were Mr. Saurabh Jain, Vice President, Paytm & Mr. Harshit Vyas, Chief Business Officer, Oyo Hotels & Homes and Mr. Ajay Nahar, Wipro Insights Leader & YLC National Forum Chair was the moderator of the session.
During the session, Mr. Harshit Vyas highlighted the principles of ‘giving respect’ & ‘thinking from other person’s perspective’ for smooth interpersonal relationships in business framework. He stated that Oyo being in hospitality industry is experiencing lowest revenue ever due to Covid-19. In future, India may see around 38 million job losses. Affordability will be a key criteria for room bookings and people will be more careful about how sanitized the hotels are. At Oyo, multiple level checklist is going on regarding sanitization of hotels and staff. He said that managers have to be transparent with employees. Companies should offer limited benefits to employees instead of lay off. He stated that hotels will have to invest more on hygiene facilities now as ensuring service quality and sanitization process is on priority. Mr. Saurabh Jain shared that Covid-19 is an unprecedented situation & it is the New Normal for next one year. Layoff should only be done if division is closed and productivity is blocked. Organizations should think before cutting the salary as it will have bad impact on morale. He hoped that 2021 may be very good year for industries with better liquidity and market for foreign countries. Before concluding, he stated that Paytm works on principle of agility to grab new opportunities.
Overall, it was a highly informative and insightful session.