Can businesses weather another COVID outbreak?

Nearly nine in 10 business executives believe their organization can endure an outbreak of the omicron variant of COVID-19.

Eighty-six percent of executives polled by the Society for Human Resource Management in December agreed that existing policies and procedures aimed at stopping the spread of COVID-19 in the workplace gave them confidence. However, 67% said they are very or extremely concerned about their organization’s ability to keep employees and customers safe due to omicron.

In recent days, Jefferies, Goldman Sachs, Chevron and many more employers have delayed or changed their January return-to-office plans. Starbucks, Delta Air Lines and BlackRock have amended their COVID safety protocols, responding to shifting guidance from public health authorities.

Starbucks, for example, announced that it would reduce the number of days that vaccinated, asymptomatic workers who test positive must isolate to five days from 10, following the latest guidance from the Centers for Disease Control and Prevention. The company also said U.S. workers would have to be fully vaccinated by February 9 or submit to weekly testing, in compliance with a Biden administration vaccine rule for large employers. A spokesperson for Starbucks said the company gave store and district managers some leeway to decide when specific locations need to make adjustments, such opening for drive-thru orders only.

Among the other key findings from the survey:

• 65% of executives said they were very or extremely concerned about their organization’s ability to retain employees because of omicron.
• 65% were very or extremely concerned about their organization’s ability to recruit new talent following news of omicron.
• 62% were very or extremely concerned about their organization’s ability to remain productive following news of omicron.
• 61% of executives were very or extremely concerned about their organization’s ability to maintain employee morale and engagement following news of omicron.
• 59% agree they would need to lay off or furlough employees if an omicron outbreak occurs.
• 54% of executives agree that their organization would be at risk of permanently closing if an omicron outbreak occurs.

“Clearly, this variant is causing significant disruptions across the economy, and business leaders must continue taking steps to protect employees and their families and retain talent,” said Johnny C. Taylor Jr., SHRM president and CEO. “Despite the anxiety, there is good news. Employers are confident the hard work of the last few years — all the planning and safety protocols — will help get them through the twists and turns of the pandemic.”