Due to the unpredictability of the current crisis, managing talent in times of crises presents dichotomies. Events such as the current Covid-19 pandemic start very suddenly, and may also end abruptly, but the ongoing adjustments and post-crisis recovery need to be well managed.
The role of the CHRO, business partners and leaders has become pivotal in managing their talent priorities while ensuring business continuity. While businesses tend to recover through cycles, how can they position talent to be productive during and immediately after the immediate crisis?
The Covid-19 pandemic has created much uncertainty for the global economy. Wall Street economists are warning that fears of Covid-19 could undermine efforts to reopen economies, leaving the stock market’s recovery unpredictable. But beyond the short-term fluctuations of stock prices, the pandemic has also created new markets and opportunities for the post Covid-19 era. Hence the biggest question in everyone’s mind is “Where will the market be heading?”
MAS has recently announced that Singapore will enter a recession this year with uncertainty over the duration and intensity. Economists are also projecting heavy job losses in the months ahead as the crisis takes it toll on businesses worldwide. Hence, the challenge for many will no longer be just staying employed, but staying employable.
With the Covid-19 pandemic spreading globally and disrupting businesses worldwide, the global economy is bracing itself for a much sharper economic contraction this year. Jobs will inevitably be lost and household income will plunge. What does this means for financial parenting and what are the lessons we can teach our kids on the topic of money? Do you continue to give the regular allowance? What can we teach our kids about job security?
If you are wondering if it is important to pay attention to personal branding and how you should position yourself in times of crisis, this is the best opportunity to tap the brain of with our guest author Andrew Chow.