Challenges Faced by Company Secretaries During the Pandemic Crisis
The COVID-19 pandemic has brought about significant challenges for Company Secretaries, with a shift towards online business operations and concerns regarding communication, transparency, health, and time management. Stakeholder engagement, team interaction, and adapting to new regulations are crucial amidst the lockdown. Addressing these challenges requires a balance between economic and health crises, emphasizing the need for united efforts to navigate through the uncertainties.
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Presentation Transcript
Recently a pandemic situation witnessed a change in its online business regime. There is so much chaos in the country as people have fear in the minds did not have much knowledge and understanding how to survive in current pandemic situation. Complete lockdown of all the activities has made the economy to suffer a lot and calls for concerned efforts to be well prepared for the exit and encashing the timely opportunities. There are lot of challenges been witnessed by Company Secretaries due to Covid-19 and lockdown.
Major Challenges Paradigm shift It is been witnessed that lockdown of the economy has caused a stop on all the activities and need was there to shift from old regime to new online regime. Interaction with team As work from home pattern continued it becomes utmost important to get updates, issues from the team working within. This can be done through video conferencing tools. Lack of Communication with stakeholders Stakeholders play avital role they are the investors in the company and they have the full right to get acquainted with company major changes. Transparency issues Efforts are required to maintain trasparency in the workdone and security issues and keeping a track of confidential statements is very important for Company Secretaries.
Major Challenges Health fear Health fear and work from home creates a stress no physical activity just sitting in home due to lockdown has caused overburden and stress among professionals Compilation with laws Time management plays a vital role and major drawback was adaptability to change with technical regime and timely submission of files and returns and making statements. No Social gatherings Team united and work organization behaviour and social influence keep in touch with each other which was missed out due to lockdown. Work Pressure and Time Management Work pressure increased altogether and managing it becomes utmost responsibility of Company Secretaries and with due diligence became a mojor concern to look upon.
Any nation need to look out and make choice between the two Economic Crisis- it arises when lockdown continues and the Health crisis- it will increase the healthcare operations. It is battle against invisible but not invincible. More united and concerned efforts are required to win out of this situation. A right combination of united efforts will be the success mantra in near future. Onus lies on all the stakeholders of the society ,no government can fight out alone. Considering the pandemic as the other side of the same coin we need to focus on the opportunities came attached. So it is the time to be proactive and taking a lead in becoming self reliant and sustainable to become the world leader.
SUBMITTED BY- PREETI CS EXECUTIVE STUDENT REGISTRATION NUMBER- 250570953/08/2016
