BEIJING, April 21, 2020 /PRNewswire/ — In light of COVID-19, a unique survey conducted in China—led by Dr. Zhang Xiaomeng, Associate Dean and Associate Professor of Organizational Behavior at the Cheung Kong Graduate School of Business (CKGSB)—shows that individual psychological resilience has a strong bearing on corporate resilience and the time it takes for the economy to bounce back. Thus, whilst a strong rebound is essential, the issue is how to resume production and employment whilst ensuring risk is kept at bay.
As part of a series, this second survey focuses on the effect the coronavirus epidemic has on the Chinese economy and how this impacts psychological resilience. The survey sample has expanded from the original 1,112 CKGSB alumni company leaders to 5,835 employers and employees of CKGSB and alumni companies.
Results show that despite the unprecedented challenges, surveyed respondents have shown higher levels of resilience, with an average psychological resilience score of 29.97 on a range of 0-40, with a standard deviation of 6.75.
Respondents are also highly satisfied with their company’s protective measures and employee care packages, 88.5% were satisfied or very satisfied with their employer’s epidemic prevention measures, and about 68% of those were highly satisfied with their work status.
The survey also revealed that respondents are optimistic about their company’s full operational recovery and solid annual performance. Though most respondents believe company annual performance will suffer to some extent, 77% of respondents believe that their company will perform at least 70% as well as expected prior to the outbreak, of which 10% believe that their company will outperform pre-outbreak expectations. The sectors at the top of this list are finance (17.85%), real estate (15.82%), and the Internet (14.48%) sectors.
It appears to date that most people will not choose to change jobs, showing a high degree of loyalty, with an average score of 25.24 out of a maximum of 30.
The overall results of Survey 2 have lent support to Survey 1 findings of respondents keeping confidence, improving morale and not reducing wages or staff. The macroeconomic factor that cannot be ignored, is that between the two surveys, the situation in China has improved, the number of newly diagnosed patients has continued to decline and daily new diagnoses have fallen significantly.
For the full survey results, visit: https://english.ckgsb.edu.cn/new/psychological-resilience-of-business-owners-and-employees-before-and-after-work-resumption-due-to-covid-19episode-1-tracking-work-resumption/
