In the backdrop of the ongoing COVID-19 challenges, organisations must develop flexible plans to adapt and keep going. Workplace decentralisation is also crucial to keep the businesses running and peoples job intact.
Today we are reeling under the pressure of the second wave of COVID-19, which is much larger and colossal than the first wave. The real estate sector has also suffered a significant hit due to the contagion. The realty industry is like a pyramid with investors who flag off bigger investment, occupying the top part and the architects, product vendors and engineers forming the mid-level of the pyramid. This entire system sits on the wide base of the onsite workers. The pandemic has shaken both the top and bottom of the realty pyramid.
With the market being in flux, it is difficult to predict returns on investments with accuracy. This has cautioned investors who want to hold on to their funds a little tighter than before when it comes to new launches and commitments.
The bottom of the pyramid, which essentially comprises the labour force, do not want to stay in cities without food and money amid the pandemic and headed back to their home towns, leaving the ongoing projects in a quandary. Thus, the way ahead is to avoid negative speculation and have a flexible approach. There is no surety about when the cases would decrease. We need to have a flexible plan for the highs and lows to adapt and keep going. It is also essential to decentralise workplaces, giving people an option to work from remote centres.