The COVID-19 pandemic toppled the global economy in just a few weeks and caught many organizations off guard. According to Randstad Sourceright’s new Talent Trends report, even before the pandemic broke, only 31% of companies felt completely prepared for a possible downturn economy. So how can businesses bounce back from the crisis successfully?
The key is to stay agile and prioritize talent. “COVID-19 has had an enormous and unexpected impact on the world’s health and economy,” said Rebecca Henderson, CEO of Randstad Global Businesses. “Perhaps the most important lesson to be learned from a business perspective is that human capital and business leaders need to expect the unexpected.”
“The only way to be able to thrive when crisis hits, and subsequently when things stabilize, is to be agile; agile in business strategy, workforce strategy, employee reskilling strategy and tech strategy.”
Apart from workforce agility, talent should also have a flexible mindset and be able to take on additional responsibilities as needed. Organizations should upskill and reskill their employees to prepare them for new responsibilities. The report revealed that 48% of companies are already upskilling their employees, while 38% were reskilling workers for different roles.
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