The Omicron Variant: How Companies Should Respond

The Omicron Variant: How Companies Should Respond

As worries over the spread of the new SARS-COV-2 variant Omicron grow, companies in India across sectors have stepped up vigilance and started curbing work-related domestic and international travel.

The emergence of the Omicron variant of Covid-19 has dimmed hopes that the pandemic will soon fade away and once again has employers pondering how they can fulfill their difficult obligations to keep their workforce safe and to meet their business needs.

The good news is that as the virus has evolved, employers have honed their strategies to keep infections in check. By continuing to be creative, flexible, and adaptive in their approaches, they can contain the threat now and handle other outbreaks if other variants arise — a significant possibility given the low levels of vaccinations in many parts of the world, including some areas of the United States.

The omicron variant poses a new threat to businesses that were already struggling to recover from the economic damage done by previous strains of the virus. 

Gyms, concert venues, restaurants, airlines, and other industries that have been battered by the pandemic are bracing for another COVID-19 wave that could curb demand and prompt renewed government restrictions.

Several states have detected cases of the omicron variant, which health experts say could be more contagious than the delta variant. Shortly after scientists in South Africa discovered the omicron variant, the country’s COVID-19 cases spiked dramatically. 

Thanks to the prevalence of vaccines, U.S. officials don’t foresee a return to the early days of the pandemic, when entire sectors of the economy were forced to shut down. But experts still worry that many businesses that barely overcame the delta variant might not survive another outbreak.

The U.S. has lost more than 90,000 restaurants since the start of the pandemic. Restaurant groups are pushing Congress to authorize more federal aid after its $28.6 billion rescue fund quickly ran out of money, with two-thirds of restaurants that applied for aid ultimately missing out.

“Until Congress moves to replenish the Restaurant Revitalization Fund, every new variant that could impact how consumers use restaurants threatens to push thousands closer to closing permanently,” said Sean Kennedy, executive vice president of public affairs at the National Restaurant Association.

The delta-driven outbreak this summer also flattened demand for concerts and other in-person events. Venue operators, who successfully lobbied Congress for a $16 billion grant program that they say saved around 90 percent of the industry from going under, are gearing up for another wave. Upticks in cases prompt more customers to skip shows they previously booked, depriving operators of crucial income from the sale of food, drinks, and merchandise. 

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