Uncertainty
in the Markets: How to Maintain Stability in Your Business
Market uncertainty and disruption is going to
create uncertainty and disruption in your workforce. This is especially true if
you are in an industry that is being heavily impacted by Coronavirus disease
(COVID-19), like the airline industry, energy sector, and hospitality market,
where the impact is most volatile. Conversely, in healthcare, supply
chain/distribution, crisis response, cleaning and community response, job needs
are surging, according to Glassdoor reports.
Regardless of whether you’re hiring because of
market demand or making up for employee losses, this is not a time to take a
break—in recruiting and in long-term and on-going projects and priorities.
Instead, we need to work harder and continue
to look ahead at what the impact will be once the dust settles. The market will
rebound from this event and those that will happen in the future. That recovery
will come just as hard and fast as we saw with the last downturn, making it
critical that you are ready to leverage the strength of rising markets.
The question is: how do you continue moving
forward while maintaining stability in business operations and hiring? Here are
a few simple ways to keep the future as your focus.
Leverage
Technology
There’s no reason to slow down with employees
working from home. Thanks to technology and telecommunications, everything can
remain on schedule. While this unplanned disruption requires you to re-think
processes, you can shift and rely on the many solutions available to you,
including:
- Digital meetings via phone or
video allow you to continue connecting and innovating, regardless of location.
- Real-time chat tools make quick
conversations and text-based collaboration easy.
- Shared drives or digital asset
management tools (DAM) make it easy for everyone to have access to docs,
videos, images and more without having to request access or get on a call.
Leverage
the Gig Economy
The gig economy allows you to tap into a
growing pool of talent that’s available nationwide, with 57 million Americans taking on freelance work,
as of 2020. If you’ve lost employees and need someone to pick up the pieces
fast, or are looking for quick support, freelancers and contract workers can
step in, without extensive onboarding or the paperwork necessary for full-time
hiring.
What’s more compelling, freelancers are used
to working from home and connecting online, making the transition even easier
for you during an already hectic time.
You can find freelancers through your current
network of professionals and business owners, or online. Freelancing sites like
UpWork
provide a large network of freelancers to choose from. Simply search for what
you need and sort through to find the best potential candidates.
Leverage
Hiring Experts
If you’re losing employees, now is the time to
connect with the people who know how to facilitate search, regardless of what’s
going on in the world. Our name, Comhar means collaboration, and we are here to
be a partner to our clients, regardless of market volatility. As Executive
Search consultants we not only support your human capital needs but also
provide strategic guidance for managing these unusual and unpredictable times.
Finally, we can provide you with a
one-stop-shop experience, so you don’t need to juggle multiple companies or
vendors. We have expanded our service offerings to include Professional Recruiting and Talent
Advisory Services, so we can be the best partner for much of your
hiring and talent needs.
You Can Maintain Stability During
Uncertainty
Don’t let Coronavirus disease (COVID-19) scare
you into losing a step—you’ll be at a further disadvantage once the economy
bounces back if you lose sight of long-term goals now. The legacy problems
you’ve been working to solve will remain once this passes, so keep moving
forward, leveraging technology, the gig economy and the hiring experts you’ll
need to bounce back stronger than before.
