Those Who Do Not Prioritize Employee Protection Put Their Competitiveness at Risk
During the COVID-19 pandemic, it’s a natural reflex for companies to focus on cost savings. However, not providing proper protective measures for employees could create an even more significant financial burden on businesses.
Companies that pursue a savings strategy are putting their competitiveness at risk. Within the past four crisis-ridden months a lot has changed. The pandemic hit all sectors and companies, who were unprepared in March and April. Now, the cards have been re-shuffled and some businesses appear to be well-prepared.
All optimism is based on one condition: No second lockdown!
According to the latest forecast by the EU Commission, the economic recession in Europe in 2020 will be even worse than originally anticipated. In May, economic output in the EU was expected to fall by 7.4 percent. This has now been corrected to 8.3 percent.
Although there were already initial signs that the worst had been passed and that things were now starting to pick back up again, everything depended on the condition that no second wave of infection would materialize.
The protective measures that companies have implemented in recent weeks and months will decide whether a spike in cases happens as the economy opens back up. To put it bluntly, a second lockdown must be prevented by any means.
Waiting and seeing what happens is like playing the lottery
Recent weeks haven shown that companies with experience in agile processes and digital innovation have found it easier to identify and implement highly efficient solutions to this new challenge.
of the industrial companies that requested KINEXON SafeZone are pursuing Smart Factory projects and are characterised by a high degree of innovation.
On the other hand, companies that rely on the tactic of “wait and see” are also relying on the principle of hope during the coronavirus pandemic.
After all, one case of infection in a company can lead to millions of euros in damage within just a few weeks. Worse still, the damage to the company could be many times larger and more drawn-out than just a few weeks ago.
Anyone who interrupts the value chain is out quickly
At the beginning of the crisis, everyone was still in “the same boat.” In almost all industries, the value chain stood still and each participant had an understanding for others if delays occurred or performance failed because everyone knew, nobody could have seen this crisis coming.
But the free economy is a shark tank. The fast survive, the slow are left behind. If one company now brings the value chain to a standstill due to an infection, a replacement is available — in contrast to the beginning of the crisis.
Those who come to a coronavirus-induced lockdown now don’t just pause, they take several steps backwards.
This is because orders must then be won back by competitors, trust must be rebuilt, legal disputes may even be fought out and expiring financial support initiatives compensated.
What was considered a future technology in February has quickly been brought to the forefront
Fast action, real-time analysis and automation are three aspects that have now gained an importance through the concept of the Smart Factory. Before the pandemic, tech solutions like RTLS were mostly considered as a visionary technology to increase production. Now, the mindset has changed.
Companies have begun realizing that these kinds of technologies can help prepare for future challenges that are avoidable and could endanger the entire business. In other words, digitization is being accelerated by the pandemic.
We at KINEXON also notice it when talking to customers. Just a few months ago, topics such as automation of the material flow by means of real-time location, geolocation intelligence and state-of-the-art AMR control were treated as future topics. Now they receive the highest attention in the context of KINEXON SafeZone, our digital solution for contact warning and contact tracing.
of the companies requesting KINEXON SafeZone already use KINEXON RTLS or are interested in pilot projects
One winner is already known
In the end, we have to admit to ourselves that the true impact of COVID-19 on economic competition cannot be predicted, nor can the further course of the pandemic. Only one winner is certain: digitization.
Only digital tools provide us with the agility, transparency and speed to act and react. Whether it is the detection of a viral infection by a solution like SafeZone, changed process conditions via process mining or new working environments that have to be controlled remotely via RTLS, digitizations wins out.
Read the other articles of our“Impact Series” here:
- FINANCIAL RISKS:
“How KINEXON SafeZone Saves Money by Protecting Employees”
- SOCIAL RESPONSIBILITY:
“Why Companies Now Have a Particularly High Social Responsibility”
- STRESS AND ANXIETY:
“Coronavirus Anxiety: 5 Tips How Employees Feel Safer with KINEXON SafeZone”
- LEGAL ISSUES:
“Legal Implications of COVID-19: “One Should Think About the Worst Case Scenario”
Data Privacy: 3 Examples Why Contact Tracing Is More Secure Than Its Reputation
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Quick Answers: Frequently Asked Questions About Contact Tracing
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"Cluster" Strategy Against a Second Wave? Companies Could Easily Follow Expert Advice
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Legal Implications of COVID-19: "One Should Think About the Worst Case Scenario"
To conclude our impact series, we take a look at an area that is difficult to grasp and probably the most complex: the legal dangers for companies due to the COVID-19 pandemic. We asked lawyer Dr. Christian Herbert for guidance.
Coronavirus Anxiety: 5 Tips How Employees Feel Safer with KINEXON SafeZone
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Second Wave? Why Companies Now Have a Particularly High Social Responsibility
Oxford University sees Germany and Switzerland heading for a second wave. Latest cases show how companies protect their employees could be decisive. Their social responsibility is larger than ever.
How KINEXON SafeZone Saves Money by Protecting Employees
An employee infected with COVID-19 can lead to a complete stop of the entire operation. The financial damage can run into the millions after 10 working days. This calculation example shows the importance of efficient protective measures — for the health of the employees and the company at the same time.
How SafeZone Can Help Sports in North America Adapt to the ‘New Normal’
As leagues in North America begin to formalize and execute return-to-play procedures, the health & safety of players and team personnel remains top priority. One way leagues and teams in Europe are staying protected is through the adoption of innovative digital technology.
How KINEXON Technology Contributes to the Restart in German Professional Sports
The German Football Bundesliga resumed its operations on May 16th, 2020 as the world’s first top league during the COVID-19 crisis. After that, the top German Basketball League followed suit. KINEXON technology is used by both leagues and gives a glimpse into what is possible.
UWB instead of Mobile Apps
Martin Lawitzky is the Head of Product Management at KINEXON. With his team, he was deeply involved in the development of KINEXON SafeZone. His comparison of different technologies shows that when it comes to tech-based protection against infections, companies have an option that the public sector does not.
3 Things Coaches Need to Know About Ball Tracking in Professional Football
Bayer 04 Leverkusen is the first Bundesliga club to use KINEXON ball tracking in training. Read here the three most important learnings from our webinar series on player and ball tracking — how tactical analysis will change football coaching.
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Load Management: Three Takeaways
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