COVID-19: impact on quality of work life in real estate sector.

Abstract

COVID-19 pandemic has been spread like wildfire and left its deadly impact throughout the world. This would harm businesses according to the sectors. Like other sectors real estate sector under the construction industry is also facing the impact of the COVID-19 pandemic. It becomes very detrimental about labour market, company liquidity, the supply of materials, project delivery, and key cost components, and so on. In general, it happens that the real estate sector often experiences complexities in case of project completion, scheduling, and financing. The planned work cannot be carried out due to the non-availability of sufficient numbers of skilled labours and staff. Moreover due to effects of pandemic real estate sectors and the work-life of real estate professionals are being hampered. It is very much obvious that human resources act as the lifeline of any organization and they need to be handled and managed with the utmost care and dignity. Despite the physical, technological and financial resources in the business, human resource is such a critical asset that employers should take care of their quality of work-life all the time, not only during the crisis period. By satisfying them the business can achieve its objectives in terms of revenue and recognition. After a strict lockdown when things return to new normal and employees return to work, the company needs to take certain ‘human resource’ perspectives for maintaining a good quality of work life. All the employers should implement some strategies concerning to qualitative work life of the employees during this epidemic situation. The real estate sector is labour intensive and employees are a very critical resource that helps to increase productivity and enhancing competitiveness in the market. The impact of the pandemic on the quality of work-life among real estate employees in Kolkata, India is also studied.