The impact of the COVID-19 pandemic on the society cannot be

overstated. Worldwide, its effect has been unparalleled: it

endangered general public health, significantly impacted labor

markets, long-term livelihoods, and supply networks, caused

substantial commercial disruptions, and underscored the financial

fragility of many businesses.

At the onset of the pandemic, short-term issues that

businesses scrambled to address include those pertaining to human

health and safety, the supply chain, the workforce, cash flow,

consumer demand, sales, and marketing. In order to preserve as

much of their essential infrastructure as possible and to keep

their citizens working or prepared to work once the pandemic has

been contained, many countries that could do so worked to

stimulate their economies. Financially weak countries were unable

to support domestic businesses in the same way that financially

strong countries have done in retaining their workforces.

As community quarantines were imposed, people stayed at home

and economies shut down, with many well-known brands in various

industries going bankrupt and a large number of business closing.

In the Philippines, barely few months since the pandemic began,

more than 3,000 establishments across the country have either

closed permanently or cut back their workforce, leaving tens of

thousands of workers jobless. In particular, the travel industry

was severely impacted: a large majority of hotel rooms were

vacant, airlines have reduced their personnel, and 2020 was a

loss-making year for vacation destinations. Conferences, sporting

events, and other sizable gatherings, in addition to cultural

institutions like galleries and museums, have also been

unexpectedly cancelled.

These and other stressful life events have been shown to

have a major detrimental impact on the mental health and

psychological functioning of workers and employers alike.

Individuals who were quarantined because of COVID-19 report

experiencing worry, fear, and frustration. In a similar vein,

uncertainty brought on by COVID-19 has also been shown to be

connected to substantial alterations in everyday routines,

heightening stress, despair, and anxiety.

It has thus become clear that if business organizations want

to continue existing and sustaining themselves, then they must

have high-performing leaders and workers. However, it becomes

difficult for businesses to maintain consistency in their

operations when there are unclear external situations that could

affect the wellness of their personnel. These unforeseen events,

such as the COVID-19 pandemic, lead to stress, thereby reducing

productivity.