As the world economy plunged into a sharp downturn because of Covid, organisations were faced with difficult choices from business models to maintaining operations to sustenance of their workforce. Quick but difficult decisions had to be taken. While some organisations swiftly transitioned to remote work, others struggled. This resulted in mass furloughs, lay offs, and salary cuts. There is a strong headwind against businesses and cost pressures are intense. Yet work needs to be done. Business recovery needs to happen and workforce is needed.
The solution lies in finding solutions that meet the needs of both the organisations and the workforce. A rising number of highly skilled, displaced workers are turning to ‘gigs’ or contractual employment as they wait for economic improvement. The organisations need to strategically plan to utilise this new found pool of talent.
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