Multinational Companies in a Post-Pandemic World

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Multinational Companies in a Post-Pandemic World

The spread of COVID-19 has impacted many people and industries globally, and multinational companies (MNCs) are not an exception. MNCs typically offer better wages and working conditions than smaller local companies (Bohle and Regan, 2021, p. 80). In Ireland, the top ten MNCs account for almost half of all corporate tax receipts and can appeal to multiple levels of governance (Bohle and Regan, 2021, p. 80). As MNCs are major employers, it is important to determine their prospects to operate in the post-pandemic world of 2022.

The coronavirus has been in peoples lives for quite some time, and its presence is anticipated to decline. Despite the fast spread of Omicron, the newest variant is less malevolent, and many countries are moving toward a new chapter of the pandemic (Kresge and Loh, 2022, para 1-2). Governments are expected to focus less on COVID-19 and regard it as one of the many challenges for public health (Kresge and Loh, 2022, para 4). People wish to regain their basic freedom, with the virus circulating but being more predictable and at a lower rate (Kresge and Loh, 2022, para 6-7). Therefore, businesses, including multinational companies, must adapt their processes and policies to operate successfully in 2022.

MNCs should concentrate on employee well-being when assessing how to adapt to post-pandemic changes. COVID-19 has led to depression, anxiety, and poor sleep quality, increasing work stress (Saleem, Malik, and Qureshi, 2021, p. 1; Universari and Harsono, 2021, p. 46). On the organizational side, work stress can undermine performance and generate negative work behavior (Urie_i, 2019, p. 213). Therefore, Forbes suggests that in 2022, companies will prioritize employee well-being, which includes physical, emotional, social, financial, and career wellness (Meister, 2022, para. 2). While each aspect is important to ensure stability and high productivity, businesses can encourage employees to focus on mental health, relaxation, and mindfulness.

Multinational corporations should emphasize employees mental well-being in response to the pandemic. Hamouche (2020, p. 6) states that a well-organized mental health system can mitigate the consequences of COVID-19 and suggests that organizations should develop short- and long-term plans to support employees. Communication is crucial in managing stress as it reduces employee uncertainty (Hamouche, 2020, p. 7). Therefore, managers must design communication plans to present decisions on how the company will operate and involve employees in preparing the post-pandemic business plan (Hamouche, 2020, p. 7). MNCs should also strengthen workforce policies concerning stigma prevention to protect employees by providing timely and accurate information about the virus (Hamouche, 2020, p. 7). Moreover, training is considered one of the protective factors against mental health issues as it educates employees on how to behave during and after the pandemic (Hamouche, 2020, p. 7-8). Finally, companies must create plans to ensure gradual return-to-work plans for quarantined or working-from-home employees to decrease stress (Hamouche, 2020, p. 8). MNCs should share goals with employees, deliver reliable information, and provide emotional support to address mental health.

Furthermore, multinational companies can encourage employees to work by focusing on relaxation and work absorption. Work absorption refers to an individuals psychological state during work and can increase work engagement (Xu et al., 2020, p. 2). Relaxation positively affects work absorption because workday breaks present restorative benefits (Xu et al., 2020, p. 10). Employers should offer various activities for short breaks, such as progressive muscle relaxation and deep breathing (Xu et al., 2020, p. 10). Companies can also consider changes in workplace design, like implementing silent rooms and green spaces (Xu et al., 2020, p. 10). After a continuous work period, relaxing can restore employees mental resources and advance performance.

Mindfulness is one more way for multinational companies to support employee well-being. Mindfulness is an awareness of ones current experience that an individual can train through meditation (Zheng et al., 2020, p. 3). Mindfulness enables people to observe and accept their thoughts without judgment and reduces employee stress (Zheng et al., 2020, p. 3). Moreover, mindfulness helps people with sleep problems related to COVID-19 by influencing sleep quantity and positively affecting work engagement (Zheng et al., 2020, p. 9). Companies should design employee care programs based on mindfulness practices, such as morning meditations (Zheng et al., 2020, p. 10). Mindful employees can better perceive their state at specific periods and calmly analyze situations.

Although companies can offer several ways to support employees mentally, it is significant to consider whether people wish to go back into large groups, such as those at the workplace. A study conducted at the beginning of the pandemic shows that people understood the necessity of quarantine but also wished not to be isolated from their loved ones (Okoloba et al., 2020, p. 218). However, multiple participants stated that they or those close to them had lost jobs or incomes while witnessing prices rise (Okoloba et al., 2020, p. 219). More recent trends suggest that many employees desire to proceed with hybrid work, indicating unreadiness to return to the office (Meister, 2022, para. 8). Nevertheless, hybrid work is expected to promote employee turnover and result in some employers requiring a return to the office (Kropp and McRae, 2022, para. 16, 28). People may not be prepared to go back to large crowds, but they want to spend more time with their families and have to retrieve to work to make money for a living.

Strategies on how MNCs will operate in a post-pandemic world are important as the businesses can represent parenting groups. Multinational parent companies create complex international production relationships with their affiliates and suppliers (Saurav et al., 2020, p. 9). Multiple MNCs receive some form of support from their foreign parents, such as guidance to continue operations (Saurav et al., 2020, p. 9). For instance, parenting groups can assist other businesses concerning taxes and profits (Ní Chasaide, 2020, p. 41-46). Therefore, MNCs must determine strategies for operating in 2022 and beyond, as the major businesses can affect their companions.

One should review existing businesses examples to understand the role of planning and policy development (PPD). Compared to other multinational companies, International Business Machines Corporation (IBM) has faced unique operational challenges during the pandemic (Burrowes, Usoro, and Campbell, 2021, p. 464). The corporation has designed a Business Continuity Plan and created a Corporate Health and Safety Team (Burrowes, Usoro, and Campbell, 2021, p. 465). IBM has generated testing protocols, expanded mental health support, and sustained hybrid work (Burrowes, Usoro, and Campbell, 2021, p. 467). Several more companies have shared their recommendations for businesses to adapt. Those recommendations include enabling flexibility, being mindful of employee preferences, and advancing virtual work (Kane et al., 2021, para. 11-15). MNCs need to change their policies to prioritize employees safety and well-being.

Multinational companies employ numerous people and support smaller businesses in several countries. Therefore, MNCs must be careful with their planning and policy development in response to the post-pandemic world to continue successfully operating and providing job places. Examples of corporations like IBM can help other businesses determine ways to adapt their work. In 2022, companies will have to rethink their strategies and emphasize employee wellness by enhancing mental health, giving time for relaxation, and training mindfulness. Employees are the basis of any company, and employers should value peoples preferences and opinions to achieve long-term goals.

Reference List

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