As companies and employees around the world adjust to new ways of working, new types of stress are emerging. Feelings of isolation, detachment from colleagues, a lack of routine, trying to keep children busy, and being unable to ‘switch off’ as the lines between our private and work lives begin to blur.

While working from home might start as a novelty, it also presents new challenges, which many employees may not be prepared to manage. As a leader, it is important to look for new ways to provide your people with surety, consistency, and routine – especially when the world outside is in chaos.

For Singaporeans, who wear hard work as a badge of honour and are used to 12-hour days in the office, the risk to personal wellbeing and company productivity during these uncertain times is even higher.

If you combine the fact that a staggering 92 per cent of working Singaporeans already report feeling stressed (according to the 2019 Cigna 360 Well-Being Survey), a new home-work environment could present the perfect storm to increase the pressure employees feel further.

Here are five easy changes any business leaders can implement to reduce the likelihood of employee burnout while maintaining performance during these challenging times.

Also Read: Singaporeans wish to continue working from home post Circuit-Breaker, says survey

Encourage mini-breaks

Stepping away from the desk for even five minutes helps aid relaxation and focus. Danish students who were given a short break before taking a test achieved significantly higher scores than their peers who didn’t get any time to relax.

Encourage employees to step away from their desks, spend time in the kitchen making coffee or snacks as they would in the office, or take short breaks on their balcony or garden. Importantly, encourage them to eat a proper lunch away from their desks.

Offer tailored work-life balance approaches

In Cigna’s study, Singaporean women reported higher stress than men, largely due to the dual responsibility of family and work. The report found that women are ‘putting family first and themselves last’, while 59 per cent of them feel that workplace wellness programmes need to better address the needs of each gender.

During this period of uncertainty, these feelings of dual responsibility may be heightened. To address this, encourage an open dialogue with your employees about how they are balancing being at home with their families. As the old adage goes – a problem shared is a problem halved.

Also, ask your employees what you can do to help them balance their time so that they can tailor their priorities and tasks to best suit their personal home-work circumstances – rather than a one-size-fits-all approach.

Also Read: Work-from-home or work-from-office, which is better?

Measure outcomes, not time

One of the vortexes we get sucked into in high-stress work cultures is presenteeism, the pressure to appear hard-working by arriving early or burning the midnight oil. In the current climate, this will manifest itself differently, but as a leader, it is important to view performance more broadly.

Consider an approach that includes employee feedback, goal attainment, and skill growth as measures of an individual’s contribution and overall performance. Culture Amp’s platform was intentionally designed to enable organisations to assess and drive employee and team performance holistically across a company.

To aid outcomes, employee feedback is tailored, equipping leaders, managers, and employees with actionable insights to improve workplace cultures and individual performance based on scientific data of what is truly going to motivate employees.

To build a high-performance culture while reducing employee stress, ignore superficial overtime and clock-punching, and base your measurements on an employee’s entire contribution to the company and its goals.

Set limits on email and contact hours, and lead by example

The pressure to respond to emails outside of work hours is a major contributor to an ‘always on’ culture. With so many global companies operating in Singapore, this further increases the expectation of employees to be available out of work hours and on the weekend to account for correspondence with colleagues across international time zones.

Thankfully, a little boundary setting can go a long way. Ensure the whole company practices courteous consideration of time zones when booking meetings. Ideally, find a ‘sweet spot’ when all participants are already at work, and if this is not possible, introduce a policy of alternating out of hours calls to share the load.

Also Read: A founder’s guide to successfully working from home

Similarly, set standards around screen-free and email-free time and give your employees permission to switch off. To do this effectively, be an example. When business leaders stop checking their phones and making requests outside of work, employees will feel encouraged to follow suit.

Introduce short meetings and block out days

Endless meetings can wreak havoc with time management and create the need for people to work overtime to get their actual job done. In today’s climate, employees face an even higher risk of meeting burn out. Few would argue that many meetings are inefficient, and at times unnecessary.

Try to limit time in meetings and keep them focussed. Also, consider setting a ‘block out’ day every fortnight when no one is allowed to schedule meetings or events to give employees time to catch up. Doing this in the current environment will help to boost morale and reduce work stress.

There is no rule book when it comes to supporting employees through a global pandemic. We are all learning new ways of leading, working, and living our lives. But reducing work stress does not require major organisational change.

Making small, personalised changes that enable employees to balance work and home, measure the true drivers of employee engagement and performance, and lead by example in ‘switching off’, can make a big difference. 

For a free COVID-19 pulse survey please visit www.culturefirst.com/resilience

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The roaring ’20s was the era of wealth, tech innovation, and cultural movement. The Gatsby-like lifestyle that is quintessential of this decade came with economic prosperity and an uninhibited way of life.

And uninhibited it was, with consumerism being at an all-time high. Combine this with a surge in technological innovation, and you could see television-sets, radios, and cars in every household. Between all this prosperity and the ending of the First World War, what remains forgotten is the pandemic that infected a third of the world’s population – the Spanish Flu.

Looking back at 1918 towards the end of World War I, influenza caused more deaths than the war that led to it. The disease started off with a hundred soldiers. Six months later, 14,000 cases were reported and a month after that hundreds of thousands of cases were reported. With no vaccines or antibiotics against the disease, the only solution was quarantine, use of disinfectants and limitations on public gatherings.

Towards the beginning of 1919, the flu began easing out. But again what remains forgotten amidst all the hype around the Roaring ’20s is the severe economic downturn that preceded this time, sometimes called The Depression. The unemployment level rose from four per cent to 12 per cent, while the GNP fell by 17 per cent. Then, in August 1921 the economy started recovering and actually grew by 42 per cent in the 1920s.

If history is the best predictor of the future, will we see a return of the roaring ’20s? And if we do, what will that world look like?

Also Read: How can legacy companies future proof themselves post-pandemic?

Consumerism

We don’t need to look very far to see consumerism already infiltrating the economy. In China, the day the luxury brand Hermès opened its store in Guangzhou after lockdown, it saw US$2.7million in sales. This was the largest single-day shopping a single boutique in China has ever seen. Several malls and restaurants saw queues with some actually seeing a waitlist of three to four hours. The reason behind this “revenge spending” is nothing more than pent up demand from the lockdown and an interesting phenomenon called shibal biyong.

Shibal biyong is a Korean expression popular among millennials. It means impulse purchases such as a US$20 coffee or an expensive dress after a particularly difficult day at work or at home. These purchases are non-essential but make people feel better about a bad experience in their lives.

This desire to buy things and experiences would also be especially enhanced after the pandemic when people realise that their future can be uncertain. It may take some time for people to actually start spending straight after the pandemic depending on the economic condition.

But I believe that when the economy starts recovering there will be a shift in the mindset of people towards living an uninhibited life, similar to the Roaring ’20s where everyone was seen buying new cars, appliances and stylish clothing for the first time in history. This decade saw a total 300 per cent increase in the number of cars on the roads and the first million-dollar advertising campaign.

Innovation

With the lockdown and disruption of everyday life because of COVID-19, we are seeing a wave of digitisation around us. And this digitisation will not be a COVID-time only affair. Once people get used to the convenience and ease of digital services, there is no going back.

Also Read: Lessons from a travel tech startup founder on navigating the pandemic-stricken business landscape

This impact of digitisation can also clearly be seen reflected in the stock market. In January of this year, the FAANG stocks accounted for 14 per cent of the S&P. By April alone, these stocks jumped up to accounting for 24 per cent of the S&P index. This shift towards innovation through digitisation is similar to what was seen during the Roaring ’20s.

Healthcare is one major area where we are seeing innovation. The obvious advancements have been the use of telemedicine and telehealth globally. Apart from that, we are also seeing AI being explored as a means of diagnosis, envisioning, and curing COVID-19. The widespread use of these developments will create a lasting shift in the healthcare industry.

This is similar to the 1920s, where several monumental advancements were made in the field of healthcare, which is still being used today. These ranged from simple innovations like Band-Aids (1920) to bigger discoveries like that of insulin (1921).

Process automation is another area that is seeing a rapid change. Robotics and artificial intelligence have already started being used in factories. Supply chains that were previously part of the unorganised sector are now moving towards digitisation at a rapid pace to maximise efficiency. Similarly, in the 1920s Henry Ford popularised the Model T Assembly Line that moved from the then-traditional to a more automated process of mass production.

Communication is also seeing a shift from the perspective of machines. There has been a surge in Machine-to-Machine (M2M) communication during COVID-19. This is attributed to the rise of the contactless economy. Facial recognition and location tracking are becoming increasingly acceptable and will continue to do so as we head towards a more IOT-centric world. The 1920s also saw a shift in communication. The difference was that it was a Human-to-Machine (H2M) form of communication through the means of televisions and radios.

While this list of innovations is by no means exhaustive, we can clearly see that there is a shift happening in the world that was similar to the 1920s.

Also Read: Fixing what is broken: What organisations can learn from the pandemic

As someone who believes in drawing lessons from history, I believe that it is important to look at the light at the end of the tunnel. If the world was able to move past the Spanish Flu and the Great Depression only to see unprecedented growth, we will not only be able to move past COVID-19 but also be able to reap the innovations that were necessitated during this time.

There will be some changes that will happen during this time that will change our lives drastically. The only thing we can do is keep our eyes open while going up this roller-coaster and get ready for the ride that will be the next Roaring ’20s.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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Biotherapeutics startup Hummingbird Bioscience extends its Series B funding, closes US$25M from SK Holdings

Hummingbird Bioscience, a Singapore-operated biotherapeutics company that focusses on the discovery and development of new breakthrough therapies, has closed an extended Series B funding round of US$25 million led by SK Holdings, with participation from existing shareholders including Heritas Capital and SEEDS Capital, the investment arm of Enterprise Singapore.

This brings the total capital raised through financing activities and strategic partnerships to more than US$65 million to date. Hummingbird said it will use the new funds to accelerate the development of new candidates into clinical trials and strengthen the scientific and research and development capabilities.

“Hummingbird is building a strong portfolio of promising new therapies that we believe can deliver very meaningful benefits for patients across a broad spectrum of disease. These new funds give us further resources to develop our early-stage pipeline, and support the clinical development of our lead programs,” said Dr Piers Ingram, Chief Executive Officer, and co-founder, Hummingbird Bioscience.

Decentralised Finance (DeFi) provider startup General Protocols raises over US$1M in seed funding round to develop bitcoin-based DeFi products

Singapore-based Decentralised Finance (DeFi) provider General Protocols closed more than US$1 million in funding, which the company said will be used for the development of DeFi products based on Bitcoin Cash (BCH). According to an article in Read Cash, the funding came from cryptocurrency trader Marc De Mesel and BCH thought leader Molecular.

General Protocols said that it plans to grow its Bitcoin Cash (BCH) smart contract derivative product AnyHedge, scale its engineering teams, and expand its operations globally.

Also Read: Indonesia detains ex-MatahariMall Chairman over alleged money laundering

General Protocols also welcomed Rosco Kalis from Pandacash, who’s also the creator of a smart contract scripting language CashScript during a stint in Bitcoin.com. It also welcomes Marcel Chu -a former PR and Feature Editor in Bitcoin.com- into the team, who will build and manage business relationships and also develop the critical pool of demand for both sides of the AnyHedge contract.

Ex-Matahari Mall Chairman Emirsyah Satar to face eight years jail time for bribery, money laundering

Ex-chairman of Indonesian e-commerce Matahari Mall who’s also the former President Director of commercial airlines Garuda Indonesia Emirsyah Satar has been sentenced to eight years for receiving bribery from British engineering company Rolls-Royce in connection with the procurement of aircraft parts and from European aviation giant Airbus in connection with aircraft procurement and money laundering.

As reported by The Jakarta Post, Satar received his sentence during an online trial on Friday, May 8. The Jakarta Corruption Court sentenced Satar after finding him guilty of accepting US$3.4 million in bribes and laundering US$5.9 million related to aircraft procurement. In total, Satar has received five separate occasions of bribery.

The court has also fined Satar US$67,000 and ordered US$1.5 million in restitution.

The anti-graft body also named former Garuda engineering and management director Hadinoto Soedigno and former Garuda executive project manager Agus Wahjudo as Emirsyah’s co-conspirators under the bribery charge.

The KPK accused Emirsyah of laundering Rp 87.4 billion through multiple channels and also implicated Soetikno Soedarjo, the former president director of the diversified retail holding company PT Mugi Rekso Abadi who is guilty of bribing Satar as well as contributing to the money laundering committed by the former Matahari Mall’s Chairman.

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M17 Entertainment secures US$26.5M for expansion

Taipei-based live technology and entertainment content company M17 entertainment limited has announced US$26.5 million in Series D funding from Vertex Growth, Stonebridge Korea Unicorn Venture Fund, Innoven Capital Singapore, Kaga Electronics, and ASE Global Group, according to PRNewswire.

The new money will be used for growth in Japan as well as expansion into markets such as the US and the Middle East.

Established in 2015, M17 currently has offices in Taiwan, Singapore, Hong Kong, Japan, South Korea, Malaysia, and the US, and employs around 500 people worldwide.

Also Read: Stream Wars: The Rise of Live Streaming with Kevin Lin (Co-founder, Twitch) and Joseph Phua (CEO, M17 Entertainment)

“M17 provides a virtual stage for performers to explore what is possible both artistically and financially by allowing them to showcase their talent and interact directly with fans everywhere in real-time. This new funding allows us to continue our mission of empowering artists around the world, through our online live streaming and social commerce platforms,” said Joseph Phua, CEO of M17.

Lazada, Alumak partner to provide merchants with working capital during the lockdown

Singaporean e-commerce company Lazada has announced a partnership with Jakarta-based fintech startup Alumak to provide working capital to online merchants affected by COVID-19, according to a company statement.

The focus of this initiative is to help sellers keep their businesses afloat and empower them during the lockdown.

A loan of up to US$5,000 will be provided to business owners, who sign up via Alumak’s website. Upon approval of the application, capital can be directly drawn down.

This initiative will be open to online sellers who have been in operation for at least six months on Lazada.

“During times like this, we are focusing our efforts to support the economy through our sellers. The cooperation with fintech companies like Alumak enables our sellers to get access to funding and keep their business going. Hopefully, with empowered sellers, we will be able to help the Indonesian economy bounce back faster as SMEs and e-commerce sellers are the foundation of the economy,” said Haikal Bekti Anggoro, Vice President of Traffic Operations at Lazada.

gojek partners with Pluang to allow users to trade in gold

Indonesian ride-hailing super app gojek has launched an online investment product called GoInvestasi, according to KrASIA. 

Through GoInvestasi, users can trade in gold without much effort. It claims to offer gold with “the lowest fees and highest returns”, and has already been certified by the Indonesian Ulema Council (MUI).

Carousell brings in former Redmart executive as its new Vice President of Growth

Singapore-based C2C marketplace Carousell has appointed former Redmart executive Penny Cox as its Vice President, Growth.

She most recently served as the Senior Vice President of online supermarket firm Redmart. Prior to this, Cox was Strategy Manager of UK-based online grocer Ocado .

In her new position, she will be responsible for leading the company’s growth and marketing strategy.

Also Read: Morning News Roundup: Singapore’s Hummingbird Bioscience closes US$25M Series B-plus round led by SK Holdings

“As a general marketplace, there are distinct tracks for user journeys on Carousell – buying an old mobile phone is very different from looking for a new place to live. With my category-based expertise, I will help us to focus on these diverse customer journeys to understand how we can best cater to our users’ needs,” she said.

Carousell has a diverse range of products in around 29 categories, including cars, lifestyle gadgets, and fashion accessories.

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JobHopin, a startup that offers an Artificial Intelligence-powered online recruitment platform in Vietnam, has secured US$2.45 million in Series A round of financing, co-led by SEMA Translink (South Korea) and KK Fund.

Mynavi Corporation, Edulab Capital Partners (Japan), NKC Asia (Japan), and Canaan Capital (China), besides several angels, including the CEO of Vietnam’s second largest investment bank HSC and the CEO of Forbes Vietnam, also joined the round.

JobHopin has previously raised US$710,000, which brings its total fundraise to over US$3 million since inception.

Founder and CEO Kevin Tung Nguyen told e27 that JobHopin would use the capital to “continue to invest in our product development especially for our Bunny machine learning on better decision making and recommendations”.

Started in 2017 by Nguyen, JobHopin has developed an AI search and recommendation platform, called Bunny.

Recruitment is a function that affects more than 570 million workers in Southeast Asia. Yet, the process has remained largely unchanged despite technological advancements in the corporate world. The average white collar job in the region takes 49 days to fill, while 34 days is more typical of software developer roles.

Also Read: What we can learn from the Great Depression about a post-pandemic world

JobHopin proposes a model for solving systemic inefficiencies in the recruitments space.

Its tool offers real-time market data analysis, such as salary, supply level of active/passive talents, hiring demand and candidate-matching services with Machine Learning models trained by behavioural data from verified recruiter users.

The platform can be plugged into Massive Online Open Courses, online testing services and third-party job listing portals.

On top of this, Bunny also offers a fee built-in applicant tracking system, which it claims to have a reach of over 1.4 million unique candidate profiles analysed from online databases of over 12 million white-collar professionals and over 2,000 enterprise clients in Vietnam, as an early testing ground for product refinement.

Starting with Vietnam, JobHopin aims to expand its tool to Southeast Asia’s 60 million knowledge economy workers, affecting 108 million job placements annually in the region.

“There is this innate human desire to job hop, and develop their careers by following new intellectual challenges and professional purposes. Our desire is to make work more meaningful, to connect with one another,” said Nguyen.

“As an AI-first startup, our team makes these connections happen at scale, faster and easier via Bunny, our deep-learning matching platform,” added Yuan Le, Product Head.

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Image Credit: JobHopin

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