Within four months, COVID-19, also known as Coronavirus, toppled the world to its knees. The deadly pandemic continues to claim its victims through illness and sometimes even death.

The response to slow the spread of COVID-19 requires tactics that also cripple the economy and present a challenge to the business world from the sole proprietor to the major corporation.

Businesses that understand the challenge the pandemic brings and then act to benefit both customers and employees can obtain the best chance for survival and ultimately growth.

COVID-19 impact on business:

Today, for some businesses, dealing with COVID-19 represents the only meeting agenda item. For other companies, it at least tops the list of pressing matters. The global market expects to see a loss of 2.4 to 3%.  In the United States, the stock market remains in free fall as unemployment numbers continue to rise, and few industries escape the devastation the pandemic brings. Some of the sectors most negatively impacted include the following:

• Travel and tourism
• Aviation
• Oil production
• Restaurants
• Machinery and manufacturing

Throughout Europe, COVID-19 adversely affects the unemployment rate for jobs in the entertainment and service industries as well. Though jobs in marketing, public relations, and technology still remain available. Though the US put forth a stimulus package with some relief for its citizens, European countries provide more protection to keep people on payrolls either at full or partial pay. The EU allocated the equivalent of 109 billion dollars to help businesses pay their employees. The statistics and numbers change constantly in such a volatile time, but overall, Europe’s unemployment rate rose to about 6.6% while the US looks at a rate of over 14%. By in large Europeans find themselves better prepared than most of the globe when it comes to possessing the technology to conduct interviews and work from home.

Chinese and European reopening strategies:

Though described as Draconian, the forced quarantine measures enforced by the Chinese government seems to work. The country in which the pandemic started now implements a plan to get back to work. In addition to the directions we’ve all become familiar with, such as thorough hand washing, wearing masks, and social distancing, the Chinese developed a hierarchy of conditions in which to reopen business and society safely.

• Daily temperature checks-An elevated temperature or other coronavirus symptoms will find them back in quarantine.
• Personal protective equipment or PPE
• Proper ventilation
• Working from home whenever possible
• Social isolation

Some  hardest-hit European countries continue to show signs of hope. Countries such as Italy, Spain, Greece, Portugal, and Germany plan to relax restrictions over the upcoming week and months. With the EU economy forecasted to shrink 5% over the next year, individual governments cautiously proceed with reopening businesses. The openings will begin in mid-May and ramp up until September.

Reimagining the future of your business:

Throughout the world, those businesses that accept the situation and adapt to it appropriately possess the best chance of survival and possibly ultimately thrive. Consider the following points as a roadmap to survival:

• Resolve – Determine the degree to which COVID-19 impacts your business and take the appropriate measures.
• Resilience – For some, the loss of income measures more significant than the Great Depression. Do you possess a safety net? Consider plans to encourage social cohesiveness to get through the most challenging months. Come up with offers for your customers that will generate income now and promote loyalty.
• Return – Prepare to reactivate the work. The weakest part of the supply chain will determine the future of your rehiring, training, and productivity.
• Reimagine – The virus reveals our vulnerabilities but also opportunities to improve productivity. What are they?
• Reform – Implement what you learned from innovation and experiments into business actions.

To keep and attract new talent, employers will need to embrace the technology accelerated by a COVID-19 and post COVID-19 environment. Starting with the recruitment process, tools such as HR Software’s built-in communication features,  virtual job fairs, virtual hiring and onboarding, and making better use of online strategies become more important than ever.

Demonstrating responsibility by conducting all stages of interview electronically also lends itself to obtaining dependable and qualified employees. If you take steps to protect the safety of your employees and customers, your business stands a better chance of surviving and growing. Any smart recruiter knows that they have to adapt to hiring patterns in order to consistently grap up promising talent. The situation is ripe to be capitalized on by companies that creatively reconstruct their hiring pitch. Express yourself as a forward-thinking company