What will be the future of the job market? The question is widespread in the current debates on the next economic picture, and affects all sectors brought to its knees by the Coronavirus. However, one has to wonder how useful it is to make predictions about future developments. The job market has no end, it is constantly moving and can evolve unexpectedly.
Making predictions is certainly useful, but it does not always allow us to reach conclusions that correspond to reality. A tangible example is what is happening now: who would have imagined that a highly contagious virus would have forced everyone home, blocking travel and preventing socialization
The current situation shows that, despite technological evolution, work is based on people. The job market is carried out by the individuals who are part of it, referring to all the subjects involved, from the intern to the manager of the organization.
For this reason, we propose to think in a different perspective: even before making predictions, it is necessary to focus on three aspects: risk management, strengthening resilience, and creating value for employees. By paying attention to these three possibilities, perhaps, we can transform a situation as serious as the global pandemic into something positive.
Manage risk: the risk for companies is always high and, although it cannot be canceled, it can be mitigated. Since the last financial crisis we have learned that people, with their bad behavior, can cause serious damage, especially if they are not motivated and incentivized. With Coronavirus people are not only at risk, but they represent risk. Therefore studying the talents that are part of the workforce and how they are exposed to known risks helps. Added to this is the reflection on ways to react, pushing workers to adapt to new situations.
Strengthen the agility and resilience of the workforce. After understanding the risks to which everyone is subject, it is essential to study the adaptability of employees. Each worker evolves: upon entering the company he gradually acquires new skills, enriching his professional figure. It is necessary to collect the progress made by each one to also reflect on the agility that each worker has towards adaptation. With Coronavirus we have learned that no matter how indispensable technology is, it is useless if the workforce cannot embrace it.
Building value for employees. An efficient workforce is a happy workforce. Companies must be able to attract, retain and retrain their employees. This means giving workers the opportunity to continue their career, making them aware of what they are capable of doing. If this is an advantage for employees, it is also a valuable tool for employers, who are aware that they can count on every single worker in emergency situations. Obviously, employees must be incentivized and not just with the right monetary wages. It is necessary to immediately provide adequate training for possible future scenarios: with Coronavirus companies are learning that agility in the use of smart working is not obvious and that preparing everyone at the right time can prove to be an advantage.
Coronavirus is just another event that underlines the need for every organization to be able to adapt to every circumstance. Predicting the future is not always possible: risk management, the strengthening of resilience and the creation of value are, however, tangible and immediately observable areas, capable of leading to success.