The Federal Reserve's Beige Book report found slow recovery from mass unemployment in the US due to employee health concerns, child care problems and ample unemployment benefits. The Fed also reported the Paycheck Protection Program has helped many businesses limit or avoid layoffs, but many business leaders are uncertain about the potential pace of recovery.
Companies should update their recruitment technologies in preparation for the job rush after the pandemic, Harver CEO Barend Raaff writes. Tools should be able to support higher volumes of job applications, remote-friendly recruiting processes and assessments for applicants who are looking to transfer into new work sectors, Raaff notes.
Transitioning to a skills-first mindsetTraditionally, workers find jobs based on their educational institutions, years of experience and social networks, but in today's marketplace, skills are the new metric for assessment. Adjusting to a skills-first mindset can boost the talent pool at enterprises and also match candidates more closely with open positions and even new roles within their job descriptions. Read the blog post to learn more.
Many of the performance objectives that companies developed for 2020 evaporated in March and April as the coronavirus pandemic forced shutdowns, social distancing and layoffs. Consider how employees behave during the crisis, examine the value of organizational competencies and celebrate professional growth, writes Margaret O'Hanlon of re:Think Consulting.
Employers can help reduce turnover among hourly employees by using text messages and short videos for communication, giving them career advancement training opportunities and providing flexible work shifts, writes Desmond Lim, co-founder of Workstream.us. "Hourly workers will be looking for protective equipment, training, and insurance when they are looking to stay with a job for the long haul," Lim writes.
HR leaders say the pandemic has sharpened their focus on compassion, collaboration, company values and personal connections. "Emotional intelligence and emotional fluency are key now more than ever; showing our vulnerabilities and humanity is the gateway to building authentic bonds with your co-workers," says Claude Silver, chief heart officer for VaynerMedia.