Effects of COVID-19 on Managerial Strategies in our Banking System
We would like to take a deep look at how individual decision making and company decision making has reacted to the ever changing financial upheaval of COVID-19 and how banks have prepared for economic uncertainty in the wake of the 2008 financial crisis.
Managing While Quarantined: Tips to Lead A Virtual Team. (n.d.). Retrieved from https://www.thelasallenetwork.com/lasalle-network-blog/managing-quarantined-tips-lead-virtual-team/
This article talks abouts how managers should manage their teams virtually during quarantine. It gives tips on how to keep people accountable and productive while still keeping morale high when people can tend to slow down right now. It closes out by stating the most effective ways to support their teams and communicate efficiently.
Managing While Quarantined: Tips to Lead A Virtual Team. (n.d.).
This is about managing during a global pandemic and we are going to use it to show how managers and employees are being affected by the epidemic that is going on.
PricewaterhouseCoopers. (2020, April). How COVID-19 is affecting the asset and wealth management industry. Retrieved May 5, 2020, from https://www.pwc.com/us/en/library/covid-19/coronavirus-asset-and-wealth-management.html
This article offers a lot of insight to our topic of finance during COVID-19, including information managers can absorb to help maintain their employees during this crisis. The “Workforce” portion of the article goes into detailed steps of how a manager can be left with a workforce more able to control breakdowns, errors and other problems. The article also mentions multiple ways for an employer to implement new strategies to keep their employees productive.
MacArthur, H. V. (2020, April 1). Company Survival Guide To Care For Staff During The Coronavirus Pandemic. Retrieved from https://www.forbes.com/sites/hvmacarthur/2020/04/01/company-survival-guide-to-care-for-staff-during-the-covid-19-pandemic/#3b623900327a
This article talks about how to care for staff during this pandemic. Gives strategies about extended sick leave and resources to get healthcare. It also talks about strategies managers can put in place to prevent the spread of illness, such as what to do if you have essential employees coming in and making sure they are educated on the precautions. Also discusses how you should prioritize moral building efforts.
Dehnavieh, R., & Kalavani, K. (2020). Management-supportive measures for managers of healthcare organizations during the COVID-19 epidemic. Infection Control & Hospital Epidemiology, 1–1. doi: 10.1017/ice.2020.108
We selected this article to help us understand some tactics managers can use in response to the COVID-19 pandemic as there has been nothing in our lifetimes we are able to draw insight from. We plan on diving deep into different methods and strategies managers have been taking with their staff to keep business operational during these trying times.
Alix, L. (2020, March 20). “More banks shut down branch access as COVID-19 spreads”. American Banker. 185(55), 1
This resource talks about how Covid-19 has affected banks ability to keep branches open. This is relevant to our discussion as there are many Organisational Behavior implications of this, such as how employees are using forms of communication that are not in person, or how managers do not have the ability to directly monitor employees.
Shan, Chenyu. Tang, Dragon Yongjun. (2020, March 25). “The Value of Employee Satisfaction in Disastrous Times: Evidence from COVID-19”. Social Science Research Network.
In this article, the researchers use a multivariable regression to find the effect of employee satisfaction on stock prices during a crisis.
Knight, P. J., & Westbrook, J. (1999). Comparing employees in traditional job structures vs telecommuting jobs using Herzberg’s hygienes & motivators. Engineering Management Journal, 11(1), 15-20.
In this article, the researchers conduct a survey of telecommuting employees to determine the job aspects that motivate them long term, and the ones that motivate them short term.