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Corporate America Is Walking Down The Safe Path; Several Companies Introduce Vaccination Mandates

After months of hesitation, reluctance, and fear of backlash, Corporate America is moving towards keeping the workers and their employees safe. Sundar Pichai, Google CEO, announced vaccine mandates for the workers who are coming back to the workplace. The tech giant Facebook mandates the employees to get vaccinated before joining the office. Streaming giant Netflix has mandated vaccines for the casts of all US productions.

Corporate America Is Walking Down The Safe Path; Several Companies Introduce Vaccination Mandates

Workers in Wall Street offices require to get vaccinated. They’ve given an ultimatum, get the vaccine or find a new job. For returning to the office, all employees of BlackRock and Morgan Stanley must be vaccinated. BAAPX, the world’s largest asset manager, is only letting their vaccinated workers come back to the office. The company is set to introduce a “hybrid model” which allows vaccinated people to get back to the office and the unvaccinated people to work from home. The company will share an updated policy in later summer. The list extends to Saks Fifth Avenue (luxury department store chain), the Washington Post, Lyft, and Ascension Health.

Corporate America Is Walking Down The Safe Path; Several Companies Introduce Vaccination Mandates

Society of Human Resource Management’s Johnny Taylor says that more employees are asking for vaccine mandates. People want assurance that their workplace is safe from coronavirus when they return. Taylor’s polling data shows nearly 70% of workers want to work only with their vaccinated colleagues.

There are many organizations that require the vaccine-hesitant employees to get tested several times a week, keep wearing N95 surgical masks. It will be uncomfortable for them, but apparently, their unvaccinated status is uncomfortable to many around them.

MGM Grand has asked their unvaccinated employees to test regularly for the virus. If someone is found positive, they’ll have to quarantine, and that too without pay. Bill Hornbuckle, MGM Resorts CEO, hasn’t mandated the vaccination yet but has urged the workers to get a dose as unvaccinated will hurt business.

In a letter to his employees, Hornbuckle said that the thought of more deaths and illness is heartbreaking and there is a need to introduce more restrictions, including masks and social distancing.

The economists believe that a full shutdown would not be necessary, but the rising delta cases certainly pose a threat. CNN Businesses and Moody Analytics’ Back to Normal index has been static for the past weeks. The economy still has to go a little further to make up the ground.

Associate of Moody’s Analytics Matt Colyar said that business confidence was high in May and June. But as the cases rose, that was put in jeopardy. Colyar said that even if no one believes that restrictions are coming back, but the breakdown of business confidence is realized because of the most dangerous and infectious delta variant.

The US government is reinstating mask policies in many states which apply to nearly two-thirds of Americans. Colyar said that mandating masks will not help unravel the recovery of the economy.

Danny Meyer, CEO of Union Square Hospitality said that restaurants should not open without mandating the customers and workers in staff to get fully vaccinated first. He said he has given the period of 45 days to his workers to get vaccinated.

Federal Reserve chief Jerome Powell is of the same opinion, believing that vaccines are the only key to protect the economy against the coronavirus variants. 

Powell said on Wednesday that there is no reason to believe that the strains wouldn’t keep coming, the next more powerful than the present. He said that vaccines can certainly bring back our economy on track. Powell added that the delta variant may not bring another significant lockdown, but the schools may have to wait for another month or two.

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