No jab, no job: COVID-19 vaccine could be mandatory for employees

Here’s what SMEs think

COVID-19 vaccine

No jab, no job: COVID-19 vaccine could be mandatory for employees. Source: pexels.com

According to the PNC survey, SMB owners strongly support vaccinations for COVID-19 and plan to encourage their employees to get the shots, in order to get back to normal.

The data found that 48% plan to require employees to get vaccinated, while a third indicated they will provide education about vaccination. Nearly 22% intend to provide incentives to their employees who vaccinate. In fact, 45% expect the growing availability of vaccinations to have a positive impact on their sales.

The combination of higher operating costs and the anticipation of stable sales suggests small businesses will start feeling even more of a “squeeze” in their operations than they already are experiencing.

This way, almost half say that they are facing challenges to stay in business and nearly 1 in 4 revealed they can only continue to operate in the current economic conditions for up to a year.

As a result, business owners reported that price hikes may be in store. Among survey respondents, 40% indicated that they plan to increase prices in the next six months, up from fewer than a third in the fall survey.

Clearly, small and mid-sized business owners have high hopes that successful adoption of vaccinations by the public will translate into an improved business environment, but many challenges remain in front of them. As we saw in our survey last fall, business owners remain resilient as they adapt to the massive economic changes the pandemic has caused, and they expect most of these changes to be genuinely transformative
Gus Faucher, PNC Chief Economist 

Meanwhile, 9 in 10 business owners report making adaptations to their operations in response to COVID-19. They include health and safety changes in the form of new policies and procedures (86%) or physical modifications (78%). Of those, over two-thirds of businesses said they expect safety changes forced by the pandemic to be permanent.

More than half of business leaders made product-related changes, either in the way they sell or deliver their products or services (51%) or in their product offerings (23%). Indeed, 54% of those making product-related changes also expect them to be permanent.

We’ve reported that two Nordic countries will issue digital vaccine certificates.

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