Final Assessment Task: Critical Essay

Table of Contents 1. Introduction.............................................................................................................................................2 2. Uncertainty and skin in the game............................................................................................................2 3. Organizational examples.........................................................................................................................4 4. Ethical Symmetry....................................................................................................................................6 5. Conclusion...............................................................................................................................................9 6. List of References..................................................................................................................................10 1 1. Introduction The crisis of Covid-19 forced several changes to order happen within the organization which is essential in order to keep continuance regarding the operations of the organization. Performance of the job appears to be a significant factor that determines the continuance, through the influence of continuance on the performance of the organization. Keeping and shaping job performance during the pandemic of Covid-19 was considered a challenge for the entire organization, because of its negative impacts on the employees. This also causes stress or a lack of security of sense. Increasing HRM is there in properly shaping the strategies of HRM which can shape the attitudes that are related to the job in a positive manner. As a result, this improves the performance of job during the difficult times. As an outcome of the crisis of the coronavirus, the active force of labor shrank (Claveria & Sorić, 2022). The pandemic of Covid-19 has led to huge disruptions in the labor market of Australia. Initially, the workers tend to alter their jobs due to the uncertain environment of the economy. Decreased within the advertised jobs as well as JobKeeper program has been identified which helped the workers to remain attached to the employers. The paper aims to discuss the crisis that the organizations were experiencing during the pandemic of Covid-19 in Australia. The paper includes a short introduction. Then the paper discusses the impact of the pandemic on different aspects of an organization in Australia. Lastly, the main findings of the paper have been concluded briefly. 2. Uncertainty and skin in the game Skin in the game is referred to as incurred risk which is thereby being engaged in reaching an objective. This term has been related here to the pandemic of Covid-19 as the pandemic has brought various challenges and risks for the organization. Following the initial outbreak of 2 Covid-19 in Wuhan in the year 2019, the disease spread rapidly throughout the whole world. The impact of containment measures and the pandemic led to serious contractions within the economic activity as various individuals were not able to go to business and work could not operate any longer. The production of industry, declined on average by near about 28 percent in the G20 countries in two months just between February and the month of April in the year 2020. It has been identified that there are larger declines were recorded (Taleb & Sandis, 2015). Employees, managers, and other organizational stakeholders experienced considerable uncertainty due to the flow-on economic and labor market effects of the Covid-19 pandemic. The pandemic of Covid-19 is itself uncertain that happened in Wuhan and it impacted the whole world negatively. There are various organizations all over the world that made bad decisions due to the uncertainty of the pandemic. The timeline for organizations to respond to the pandemic of Covid-19 has dramatically shrunk. Decision-making was considered challenging under those circumstances (OECD, 2021). The pandemic of Covid-19 has impacted various enterprises such as reducing sales, labor-related challenges, and increasing costs which include retrenchment and remuneration. Many of the organizations were shut and they turned remote in order to conduct their business. Uncertainty leads the organization to the wrong things. Leaders might reward quality results instead of good decisions which are made. On the other hand, they will also be likely to punish poor outcomes instead of working on bad decisions made (Berger et al., 2020). The covid-19 crisis has mainly showcased that several managers have not been able to make a proper distinction between bad and effective decisions due to the fact that those decisions were solely dependent on results. Another potential challenge can be considered risk aversion that evolves when people have to tackle uncertainty (Executive education, 2021). A major issue can