Economic storm clouds are gathering fast. The Government is stepping in with knee-jerk reactions but the fear that crisis prevention won’t be sufficient is written on the faces of many bread winners.
For Jairus Alwang’a, a father of three, this could not have come at a worse time. He was sacked within the first month of Kenya reporting the first case of the disruptive coronavirus.
His employer lost his job and had to send Mr Alwang’a packing. The employer has taken up the very job that he had given to Mr Alwang’a.
Mr Alwang’a, who was working as a driver, helping to deliver goods to people making online orders, is now jobless, scared and cooped up in Nairobi as the Government tries to contain the spread of Covid-19.
“It is very tough. Making distress calls every day to look for food is dehumanising. I did not just lose my job. It is like I have also lost my dignity,” says Mr Alwang’a.
Figures for this year will likely be hit by the effects of the coronavirus pandemic, which has led to a slowdown in the business environment and led the Treasury to forecast that economic growth could decline to 2.5 percent and possibly lower to 1.8 percent.
“It is affecting every segment, every sector of the economy… there is loss of jobs, loss of earnings, and there is general slackness of growth at all levels. This might actually persist for a long time,” Treasury Secretary Ukur Yatani said during a media briefing Tuesday.
The private sector generated 46,100 or 58.8 percent of the formal jobs. This was a reduction from the 57,600 jobs generated in 2018.
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
- Increased profits:
The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
- Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
- Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.