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• Business will understand (if it hasn't happened yet) that people are the main resource. It is they who will have to create a new value chain and build a new reality. Top management has learned the lessons of the crises of past years that it is extremely difficult to return rudely dismissed people when everything gets better. Respect for employees is a story of close cooperation between the HR department and the business, which has been traced over the past years and is manifesting itself now.

• Work on the efficiency of business processes, including HR in general and recruitment in particular. Many companies give up this endeavor because it creates a deceptive feeling that everything is already working. It's time to "stop throwing" and work hard with it.

• Effective managers with proven track record and crisis management skills will be needed to overcome negative scenarios.

• There will be new beneficiaries in the vacated niches of consumer products with huge recruitment potential.

• Local production could be one such new bright beneficiary. In this regard, after some time, the demand for engineering and technical personnel and for worker / service roles in production should increase.

people in business
Possible negative effect:
• People who work in companies that are closely intertwined with the global economy and who are at the helm of the value chain will be most affected. Basically, we are talking about white-collar workers, employed not so much in foreign business as focused on the Eurocentric market.

• Some will lose their jobs, while others will face less obvious but painful problems related to employment - downtime, part-time work, changes in the wage system and others. Accordingly, people will try in various ways to compensate for the lack of money, that is, look for any opportunities for part-time work. As a result: the more tired employees are, the more likely it is to reduce efficiency and productivity.
Possible positive effect:
• The majority of people have a low income, so the consequences of the economic shock for them will be less painful. Some part of the compensation will be assumed by the state, measures to support business are already noticeable.

• Since the beginning of the 90s, people have gone through a serious market school, accumulated professional and personal connections, as well as experience in overcoming severe economic crises (1998, 2008, 2014, 2020). It is these employees who will be the center of attraction in companies. Shifts in corporate culture are possible.

• The skills of people aged 45+ may be in demand. In the 90s, everything was possible, but no one knew how; now almost nothing is impossible, but many understand how you can/should survive.

Recruitment
Possible negative effect:
• High turbulence in picking where the situation can change on a daily basis.

• The recruitment funnel at the entrance will greatly expand, which threatens to increase the number of irrelevant responses from people who have lost their jobs in completely different areas.
Possible positive effect:
• Expansion of the funnel among some companies can also be viewed positively: some employers intend to take advantage of the situation and take the best from the market.

• Recruitment automation tools and recruitment management CRM will be more relevant than ever - recruiters will be able to hire faster and more productively.

• The ability to manage performance through recruitment analytics will be an integral task for HR - with the help of recruitment stage services, you can track at which stage the conversion rates need to be changed and receive recommendations to increase the conversion of applicants to the next stage.

about people in general
Possible negative effect:
• People have not yet recovered from the post-COVID syndrome, new stress is fraught with an additional decrease in efficiency and productivity.

• Differences of opinion in the team threaten to turn into conflicts, and this also affects both productivity and the atmosphere in the team / company.

• The outflow of line personnel out of town.

• Increased and toxic informational background that HR-specialists need to work with first of all. You can take care of your employees in different ways. To navigate the situation within the company and take care of yourself and your colleagues, monitor moods, collect requests and support those who are having a hard time.
Possible positive effect:
• Reducing churn: Employees will stick with their jobs and, like a business that recognizes the value of people, realize that the company is important.
And finally, the answer to the main question that worries everyone today - will global unemployment begin?

There are too many uncertainties for such forecasts today. Everything is very multi-layered and multi-dimensional. If the economy is going to collapse, then unemployment is inevitable. But a more positive scenario is also possible.

    • Business will understand (if it hasn't happened yet) that people are the main resource. It is they who will have to create a new value chain and build a new reality. Top management has learned the lessons of the crises of past years that it is extremely difficult to return rudely dismissed people when everything gets better. Respect for employees is a story of close cooperation between the HR department and the business, which has been traced over the past years and is manifesting itself now.

    • Work on the efficiency of business processes, including HR in general and recruitment in particular. Many companies give up this endeavor because it creates a deceptive feeling that everything is already working. It's time to "stop throwing" and work hard with it.

    • Effective managers with proven track record and crisis management skills will be needed to overcome negative scenarios.

    • There will be new beneficiaries in the vacated niches of consumer products with huge recruitment potential.

    • Local production could be one such new bright beneficiary. In this regard, after some time, the demand for engineering and technical personnel and for worker / service roles in production should increase.

    people in business
    Possible negative effect:
    • People who work in companies that are closely intertwined with the global economy and who are at the helm of the value chain will be most affected. Basically, we are talking about white-collar workers, employed not so much in foreign business as focused on the Eurocentric market.

    • Some will lose their jobs, while others will face less obvious but painful problems related to employment - downtime, part-time work, changes in the wage system and others. Accordingly, people will try in various ways to compensate for the lack of money, that is, look for any opportunities for part-time work. As a result: the more tired employees are, the more likely it is to reduce efficiency and productivity.
    Possible positive effect:
    • The majority of people have a low income, so the consequences of the economic shock for them will be less painful. Some part of the compensation will be assumed by the state, measures to support business are already noticeable.

    • Since the beginning of the 90s, people have gone through a serious market school, accumulated professional and personal connections, as well as experience in overcoming severe economic crises (1998, 2008, 2014, 2020). It is these employees who will be the center of attraction in companies. Shifts in corporate culture are possible.

    • The skills of people aged 45+ may be in demand. In the 90s, everything was possible, but no one knew how; now almost nothing is impossible, but many understand how you can/should survive.

    Recruitment
    Possible negative effect:
    • High turbulence in picking where the situation can change on a daily basis.

    • The recruitment funnel at the entrance will greatly expand, which threatens to increase the number of irrelevant responses from people who have lost their jobs in completely different areas.
    Possible positive effect:
    • Expansion of the funnel among some companies can also be viewed positively: some employers intend to take advantage of the situation and take the best from the market.

    • Recruitment automation tools and recruitment management CRM will be more relevant than ever - recruiters will be able to hire faster and more productively.

    • The ability to manage performance through recruitment analytics will be an integral task for HR - with the help of recruitment stage services, you can track at which stage the conversion rates need to be changed and receive recommendations to increase the conversion of applicants to the next stage.

    about people in general
    Possible negative effect:
    • People have not yet recovered from the post-COVID syndrome, new stress is fraught with an additional decrease in efficiency and productivity.

    • Differences of opinion in the team threaten to turn into conflicts, and this also affects both productivity and the atmosphere in the team / company.

    • The outflow of line personnel out of town.

    • Increased and toxic informational background that HR-specialists need to work with first of all. You can take care of your employees in different ways. To navigate the situation within the company and take care of yourself and your colleagues, monitor moods, collect requests and support those who are having a hard time.
    Possible positive effect:
    • Reducing churn: Employees will stick with their jobs and, like a business that recognizes the value of people, realize that the company is important.
    And finally, the answer to the main question that worries everyone today - will global unemployment begin?

    There are too many uncertainties for such forecasts today. Everything is very multi-layered and multi-dimensional. If the economy is going to collapse, then unemployment is inevitable. But a more positive scenario is also possible.

     
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