Due to Covid-19 the hiring process in companies has changed. The job market is nothing like we’ve seen in the past decade, as there have been drastic changes in the unemployment rate, a sharp increase followed by a sharp decrease.
As of February 2020 the unemployment rate was up by 3.5%, while in April 2020, it was up by 14.7%. Then after no longer than six months, it dropped again by 8.4%. As a result, many Americans are working remotely. However, some roles simply can’t be performed offsite, but the fear of being exposed and exposing loved ones has left many unfilled positions. Some employers have increased pay-rate for essential on-site workers in order to maintain the workforce needed, while some companies went out of business.
On the other hand, e-commerce has thrived as the demand for online shopping was an all-time high. Many big corporations, such as Amazon, were aggressively hiring on the past months. Shipping and Delivery companies, Online Learning companies, Grocery Stores and Delivery Services were the industries with most workforce demand.
In order to thrive businesses are being cautious, attempting to balance the hiring freeze while keeping an eye out for talents. It is time to observe the market; there are too many variants to be considered such as: industry, geography, skills, education level and many others. At times like this it’s essential to rethink business, and adapt in order to do better when navigating through these uncharted waters.
At Frontall we are specialized in human resources strategies. And we are available to assist companies in the hiring process in these difficult COVID times.