The Uneven Impact of COVID-19
No doubt COVID-19 has made a global economic and health impact. While some industries have seen demand for their products go through the roof (think mask manufacturers), others have had their businesses shut down entirely for the indefinite future (consider PA Construction and “non-essential” retailers). Many industries are somewhere in the middle–they’ve reduced hours but are still operational on some level. Down a layer, you find that this situation has had a TREMENDOUS impact on employees of businesses of every size.
Three Impacts on Employees:
For those who have filed for unemployment due to layoff or reduced hours – many have not yet seen any benefit deposited into their bank accounts due to the surge of applicants and challenges in processing claims. Lack of income has created significant economic stress for individuals in hard-hit industries.
Many employees are uncertain about whether or not their employers have the cash reserves and strategy needed to reopen for business, and/or they are concerned that their specific industry will be slow to “bounce back.”
Some employees have been thoroughly frustrated by their employer’s response to COVID-19, whether it be a disregard for employee safety, pressure to work overtime, poor communication about how their employer will weather the storm, or a general insensitivity to employee concerns.
Three Considerations for Employers with Immediate or Upcoming Hiring Needs:
What are your hiring needs over the next six months? After a period of record-low unemployment, we now have record-high unemployment. If you have a critical role to fill, you have a unique window of time where you have access to a candidate pool that is wide, wide open.
Who is looking? Undoubtedly, some job seekers are either very loyal or very lazy and will hang on to unemployment benefits to see if their employer calls them back. But when you consider the three employee impact factors mentioned above, there are a lot of people who have already or will soon begin an active search.
How has job marketing changed? Given the current situation, what job boards are individuals using? What are they looking for? How can you best tell your story to catch the attention of the “A-Players” and stand out from your competitors?
Three Considerations if you are NOT hiring:
Communicate compassionately with your team. Be as honest as possible about the situation your company is facing in terms of sales, finances, applying for loans, applying for waivers, etc. Otherwise, people will “fill in the blanks” with their own story, and usually, it’s a worst-case scenario.
If possible, consider an overall reduction in hours as opposed to complete layoffs. Or look into the difference between a furlough and a layoff. A furlough will allow you to bring people back more quickly.
Remember, not all employees are impacted equally. Some may be eager to get back to work and crave as many hours as possible. Others were thrown into “teacher” role for their kids because schools have been closed. Some employees may be immune-compromised or have a family member who is at risk. Strive to understand what individuals are facing, and craft a plan that takes their unique needs into account.
Lastly, as a leader, be kind to yourself. For many of us, the past few weeks have been challenging. When you are feeling low, talk to someone you trust—a pastor, a friend, a business associate, or a family member. You can even call me – 717-344-8705. Give yourself permission to feel the range of emotions that go along with an economic downturn and a global pandemic. You are human after all! But don’t stay down. You weren’t made for that. You are a fighter. You are a leader. You have a vision to chase. You have a team that is counting on you to make a plan and push forward. And whatever happens, remember your work is not who you are, it’s what you do. Your character, your grit, your resolve, your faith, your leadership—those are your traits to own no matter what happens.
Be Strong & Courageous! Do not be afraid; do not be discouraged. For the Lord your God will be with you wherever you go. (Joshua 1:9)
As business leaders, we are all in this together.
If there is a way that I can serve you during this challenging time, please don't hesitate to ask. Whether it's brainstorming about how to communicate changes to your team or sharing ideas on best practices for COVID19 safety or introductions to someone in my network or discussing the hiring landscape. I'm happy to serve you in any way that I can. It doesn't have to be hiring related. Likewise, if you know someone in your network, who is experiencing growth during this unique time & has hiring needs - I would greatly appreciate the introduction.