Over these past few weeks, we have been connecting with talent acquisition leaders in various industries around the US from Airline, Banking, Healthcare, Hospitality, and Tech. Even though these industries have a range of work conditions that vary across the board, there are a number of variables emerging from each industry that has led us to beg the question; what will the People Services (HR) trends be for the new norm? And… how will organizations adapt to these changes?
Let’s not forget that pre-pandemic, there was a war on talent. Unemployment was at an all-time low of 3.5%. Companies were attracting talent with workplace incentives, real estate, total rewards, tuition reimbursement, and more.
Today, unemployment is at an all-time high of 14.7%. Organizations across the US are working with a shell of a team, as many have had to furlough and/or lay-off team members. On top of that, organizations are being asked to create a workplace strategy with safety and security measures at the forefront, yet there’s no “best practices handbook” to guide them along the way.
During any time of unrest, there are always organizations that stand out as pioneers and organizations that have an opportunity to learn and grow. Wherever you fall within the spectrum, here are some recommended questions to ask yourself to ensure you are meeting your people where they need you most.
There are three commonalities in this approach we’ve seen across the board: Communication, Compensation, and Culture.
How effective are you communicating with team members?
How have team members been compensated during COVID-19?
How are the culture and environment changing?
As you can see from the above, from a workforce planning standpoint, you’re likely to retain associates during these unprecedented times by fostering an environment of a diversity of thought with open lines of communication. Team members, active and furloughed, want to feel appreciated and stay connected.
If you feel you have missed the boat, don’t worry, there are resources and time to still catch up! Think of this article as a toolbox for managing the next phase of the future and think of us as your resource as you continue to build upon opportunities to further your workplace communication, compensation, and culture!