Topics In Demand
Notification
New

No notification found.

HR today – thoughts from the edge of living with COVID and the Great Resignation
HR today – thoughts from the edge of living with COVID and the Great Resignation

May 12, 2022

239

0

Everything that we thought was normal in the world of work no longer exists. We have been through a time when people were confined to the home and many jobs thought to require presence in the office have been done virtually. This has altered the whole ‘going-to-work’ paradigm permanently, it is unlikely that things will be the same ever again.

The wide variance in economic impact on employees

The economic impact was felt differently around the world. While in some countries, there was little support from the government, in others full unemployment benefits were provided. In the US, some employees who lost their jobs as a result of COVID received enhanced unemployment benefits with additional payments of up to $600 per week from the pandemic fund. Rent payments were suspended, educational loan payments were suspended and some individuals were also eligible for food assistance.

Mental Health

For many,  it became a time of reflection, introspection, and family that they may never have experienced in the past.  Everything was shut down and everyone was shut in!  It happened quickly and without much warning.  Fear of dying or losing a loved one loomed large and many lives were touched by the death of a loved one as a result of the pandemic.

Apart from this, the amount of political, economic, social, technological, legal, and environmental issues that the world has encountered in the last 24 months as well as “e” ethical dilemmas that humankind faced is unprecedented.

A new set of problems for CHROs to deal with

Now that things are off and on daily depending on the new variant and new findings in science around the virus, among other things, HR is back to focusing on compliance.

Vaxed or not Vaxed?

Masked or not Masked?

Tested weekly?

Federal and State Laws are tossed around daily and create a compliance nightmare!

Sleepless nights due to Talent Shortage

As an aftermath of all that and everything else that has happened globally in the last 24 months – the US and the world are suffering from “the Great Resignation” and a significant talent shortage.

“A record 4.4 million Americans left their jobs in September in 2021, accelerating a trend that has become known as the Great Resignation.”

“The fact that the quit rate is particularly high in sectors with a large number of frontline workers, e.g. hospitality, health care, and retail, suggests that safety concerns also play a role in the worker exodus, especially in face of the highly infectious Delta variant.” as per a report shared by the World Economic Forum.

During the shutdown, HR was not only at the table but led the discussion at the table. And now, HR is faced with staffing the business for success and with trying to attract and retain talent for both the short and long haul.

 

The gig economy offers some respite

HR has been looking at the “gig” economy for a long time and considering its place in the work environments. Now more than ever it may be an important component of the ability to think outside the box and look at alternatives for both managing talent and for finding and getting the needed talent.

New tools for attracting and retaining talent as well as collaboration with other organizations offer alternatives that were never before available.

 

The way forward

With new variants of COVID springing up every few months, the pandemic is not something that will be gone at some point.  It is something that for the foreseeable future organizations will have to learn to integrate into normal operations.  The more flexibility offered and the more opportunity for growth and development the more attractive a business will be to potential talent.

It will be critical to employ creativity and innovative practices to support businesses as they struggle to fill their supply chain and human staffing needs.  The SBB platform may be a tool to help with both.  From the opportunity to collaborate B2B and to share talent, the platform offers a different approach to talent management and acquisition.

 
 

 

 


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.