COVID-19’s Impact on Businesses and Salaries
COVID-19 has truly rocked the world. No matter how you look at it, it seems there are going to be some real, lasting changes that come from this pandemic and its massive impact on the entirety of the human population.
From food supply and manufacturing issues to how we handle business transactions, there are so many things that could potentially see a shift in functionality following COVID’s timeline. This includes how we pay professionals. Dental hygienists, included, may see a change in their salaries following the pandemic; let’s look at exactly what experts are projecting so you can get a better idea of what may come.
Families First Coronavirus Response Act
One of the biggest things that could impact the salaries of dental hygienists and dental assistants during and after COVID-19 is the Families First Coronavirus Response Act, also known as HR 6201. This is a bill that passed through congress on March 18, 2020, that was intended to protect those impacted by the coronavirus while working.
The bill details what is expected of business owners in protecting their employees and providing them with adequate testing and recovery periods should they believe they could potentially be positive for the coronavirus. Many note that this bill is a good thing. To alleviate the stress on business owners, the government is offering tax credits to help offset the expenses of the continuation of paying sick or quarantined employees. While not a perfect solution, it does offer a safety net, somewhat, and ensures the salaries of dental hygienists who are still employed during this time remains stable. There are additional exemptions for small business owners, so be sure to check the legislation to see how it applies to your specific case before proceeding.
Currently, there is a lot of concern surrounding the potential for a drop in salaries for many professional industries following the coronavirus pandemic. Many researchers are comparing this novel coronavirus pandemic to the 1918 Spanish Flu that was devastating but did not cause a permanent or even particularly steep temporary drop in the overall salaries of most professionals. If the data concerning the impact of the Spanish Flu is to act as a reference, it is likely that there will be a small temporary decrease that is not particularly substantial before things return to normal.
Handling Lay-Offs and Unemployment
Even with all of these laws meant to protect you and keep you employed and paid, there are still a lot of businesses that need to be downsized in order to survive the pandemic. Due to this, many business owners are cutting costs by laying off or firing non-essential employees indefinitely until the pandemic has been stopped.
To help make ends meet while on unemployment or looking for another job in the dental industry, job marketplaces like Stynt provide hope and the chance to work as a freelancer. All you have to do is sign up on the Stynt website. You should also download the app to get started. This is an excellent way to have a bit of a safety net through this trying time and definitely worth checking out if you need more income.