The liquidity crisis is adding pressure on many job workers in Nepal. The additional financial stress and low pay in lower-level and middle-income households significantly impact the psychological aspect of the people.
The World Health Organization (2021) Post-Covid 19 reported that approximately 1.1 million people in Nepal are experiencing mental disorders. In Nepal, mental health literacy is extremely low, and very few companies focus on employees' mental health. (Rai. et al., 2020). Research shows that corporations in Nepal exploit young talent by providing a few pennies and an overload of work in the name of experience. Such scenarios will unwittingly create pressure on the employees, indirectly affecting their Mental Health.
The organization needs to focus on Human Resources (HR), departments to leverage a better work culture and healthy environment. The importance of human resources started late in Nepal; Human Resources Management (HRM)came into the picture in the late '90s (Adhikari, D. R., 2010). Still, the progress made from the past to now looks very minimal. The entry of MultiNational Corporations (MNCs) and joint venture capital has slightly promoted HRM departments in Nepal (Gurung et al., 2019). However, HR roles are very limited in most organizations. Kumar Joshi, president of the Human Resource Society Nepal (HRSN), portrays how most of the HR roles in Nepal are administrative; he further highlights how investing in company culture is taken as an expense rather than a need in companies. However, it is high time for companies to recognize and embrace a good culture. According to the latest report of Forbes magazine's company survey, a business with a good company culture creates four times more revenue. Thus, in Nepal, companies must strengthen company culture to establish a win-win situation for employees and employers.
The human resource strategy of organizations needs to cater to mental well-being. Good Employees help the company to grasp a competitive advantage. According to the study done by Gartner in 2021, 68% of the corporate organizations in the United States initiated wellness programs post Covid-19. A study done at Harvard shows that mentally fit people in an organization are most likely to perform 10% better and are extra creative than people with less emotional stability. We are well aware that Covid and its impact on our brain are becoming more evident over time. Research done in Germany states that patients suffering from Covid are highly symptomatic of cognitive dysfunction, which reduces workability. Today when we observe, the corporate world staff is provided with more extravagant targets. It is always a dilemma how companies treat their patients when going through mental stress and cognitive—dysfunction post-Covid 19.
The focus on mindfulness has become a critical KPI (key performance indicator) to increase staff productivity. After Covid, companies such as Adobe, Apple, General Electric and American Express partnered with Calm and Headspace to improve their employees' mental health. Organizations in Nepal are also taking steady steps to promote emotional intelligence. Many companies in Nepal have started to understand the importance of Employees Emotions. Teach for Nepal, F1 Soft, Women Lead Nepal, Reduct, Cloud Factory, and E-Sewa have begun collaborating with education companies like My Emotion Matters, which helps develop emotional intelligence. Organizing Mindfulness practices can also be the next step to adding value to employees' Psychology. Founder of Virgin Airlines Richard Brandson once stated, "Customers do not come first, employees come first. If companies take care of their employees, they will care for the clients once employees start feeling.” So, it is high time for companies to focus on employees and understand that they are not a cost occurring but an asset that creates monetary benefits to the company.
Management Consultant/ Lecturer/Freelance content Writer