Quarantine Webinar

1.      Communicating transparently about the situation:

a. What happened or is happening?

These are unprecedented times. The entire world is going through something that has
never happened before in all our lifetimes. And things are going to change. They will
change big time. Whether it’s the way we live or the way we work.

Global predictions are pointing towards a negative GDP. The economy will shrink
and the same is likely to happen to India.

To be very straightforward, its going to be tough. Business are likely to slow down.
And they are likely to be like that for the rest of the year if not till half way through
2021. With all time low revenues and market demand, it will be challenging.

But it’s also an opportunity to re-think, re-invent and come up with creative solutions.
And we are here to help you and everyone with that. With revenues down and interest
costs going up, Cost-effectiveness will be key in the coming months.

b. What decisions have been made (including the business rationale)?

We all need to become entrepreneurs in our own rights and analyse our jobs and
responsibilities and look for ways to not only cut down costs but also deliver results
with 100 % efficiency. However, in the process of analysing and evaluating mistakes,
it's important not to place blame and create animosity among your team. People
should be open-minded to all thoughts and ideas.

More than ever we need to rely on each other and lead by example. But it won’t be
that easy to gain the trust. WE have to earn it. We have to show to the firm that in an
environment in which, firms are either not paying their employees or laying them off,
we are just as committed and loyal to the firm the firm is to us. Collaborate more
than ever with each other, help each other – ask your colleagues if you can help them
in any manner, send more emails to each other than you ever have, analyse
everything and come up with ways to be successful individually and collectively.
 Each individual is important. Regardless of which position or department you are in,
every single person is relying on you to do your job including 1000s of our
customers.

c. What the plan is going forward?

2. What can we learn from this?

a. How to change our working styles in the short term and the long term?

1. We all need to be strict with budgets

- That means this year’s annual appraisals will be called off. However,
in time we will give a chance to every to earn more in the form of
performance incentives.

- We will be paying everyone 50% for the month of April and pay the
rest of the salary gradually at a later date the specifics of which will
be mentioned in the document.

- We shall also be paying the Remaining 25% Salary payout for the
month of March 2020.

2. We will need to put in extra hours on the same day or in the same week to
catch up for the lost time – even if that means taking lesser holidays or fewer
weekend getaways

- Cut down on paid leaves and second Saturday holidays

3. We need to be digitally transform ourselves individually. Do conference

calls. Have virtual meetings to save time

4. You need to plan, plan, plan - plan everything and then execute it like your
life depends on it

- We don’t intend to have any layoffs but this organization needs you
to give back with the right attitude and effort

5. We all need to maintain positivity – you get frustrated – take 10 mins off. Do
some stretching. Drink some water and re-focus. Maintain composure

2. Future vision –

a. Here we can provide very specific goals to each team and also share how everyone
needs to be very careful with the spends to manage cash flow at individual levels
 Our objective as a firm is to

- Each one come up with a very specific goal for the rest of the year.
Don’t just say I am going to meet every deadline on time – say what
and how you are going to do it
- HODs come up with clear measurable objectives for your
departments for the rest of the year
- And each one also come up with one specific way to reduce spends
in their own work

2. Celebrating small and large wins – this is to boost morale

a. Here we can share with everyone how each team is performing, especially
highlighting the teams that are doing very well. This will motivate everyone and
infuse positivity

While these times have exposed us on an organization level and on an individual level, there are some
shining stars that have emerge out of this. Some individuals have shown fantastic attitude and work
ethic every single day of the lockdown.

Stanley

Sanjeev nahar

Accounts department

From now on, we will be doing weekly update of how each department has performed on a scale of
poor average good and excellent – this will be uploaded on a google sheet which will be open for all
to see. If you get a poor rating and if you disagree, come back at us with results. Don’t complain, let
your work talk for you.

 Talk about process related things -

2. Feedback

a. How is this affecting you and your team?

b. What changes do you think would most benefit the company?

c. What can I do to better support you and your team?

  

Dear Family,

These are very difficult times indeed. We cannot think of another crisis that has
engulfed the entire world with its speed and penetration into the lives of every
single human being on this planet. To that extent, all the distinctions of geography,
income, race and religion have come crumbling down and we stand exposed and
unified in this fight between one species and another. We need to approach this
crisis responsibly and thoughtfully, as it attacks both our mental and physical
health, as well as our economic well-being too.
I am afraid that the impact of the corona virus on the Real industry has been
particularly severe. Governments across the globe have issued advisories which
have resulted in a virtual shutdown of all our Site Operations. Bookings too are
down around 50% and it is not clear that the situation may take a few more
months to stabilize (will not get worse before it gets better).
With the precipitous drop in revenues the very survival of the Real Estate industry
is now at stake. We have to pay careful attention to our cash flows so that we do
not run out of Revenues. Unfortunately, this means that we have to reduce our
costs in line with the drop in revenues.
We have been extremely loyal and timely when it came down to the Payments of
our Staff Salaries/Vendors Pay-outs/ Payments to our Business Associates till date.
However with a great deal of reluctance and a deep sense of regret we may have
to initiate tougher business measures to come back to a better and healthier
financial curve. A thing that we haven’t done since the past 13 years of our
existence.
We are also exploring paying a 50% monthly gross pay and pay the remaining
50% post 3 months to all our staff members for the month of April 2020 (I
apprehend that we should be in a better financial position by then).
In addition to this we shall also release the 25% pending pay-outs for the month of
March 2020.

Alternatively we may also extend to pay cuts for those who are on the higher
Salary brackets too, however this is still a under thought process.
A systematically devised payment plan on the above shall be communicated by the
Human Resource Team on 5th May 2020, detailing the exact way forward.
This year another tough decision for us to make is that we shall also have to call
off or recall the annual Appraisal process which normally happens around April
2020 to a later date in future.
I expect a Paradigm shift in your respective though process and not only focus
towards your monthly pay cheques, I rather expect that you earn more in the form
of Incentives.
If one recollects my mail at the start this year I have also highlighted that we want
each one of you enabled to earn more in your incentives and you can rest assure
no one take that out of you in case you have performed
To make it simplified I have attached an Employee Lifecycle presentation pre,
during and post corona.
At this stage we don’t intend to have any Job Cuts/ Layoffs, however I wish to
reiterate the fact the UK Realty is a place to those who perform and give the
organization back more than what they receive.
Saying this I don’t expect any mass exodus of people moving out for greener
pastures in response to this message, in fact this is the phase that I expect to see
your loyalty and support to enable us to get better together.
We know how hard it is for us to accept decisions which may not be too positive.
But unfortunately, it is impossible for our company to sail through this economic
storm without all of us making some sacrifices.
To that extent, we are drawing up plans on how to respond to the Housing needs of
our customers and to be extremely responsible in terms of safeguarding the health
needs of our community.

Our top priority is to focus on the health, safety and well-being of our employees
and customers. We are asking our Employees to wear masks and gloves during the
business hours. We have simultaneously commenced a higher degree of intensive
cleaning of all our Sites as well as all our offices.

We wish to emerge out of this crisis stronger, wiser and more resolute as an
institution than when we entered into this crisis in March this year.

Please look after yourselves, your families, your fellow workers and our
customers.

“Let us come out of this crisis being healthy, united, and proud of our selves."

From the MD’s Desk,

Truly Yours
Mr.Devanshu Bansal