The world is currently in a state of confusion, panic, bewilderment, and uncertainty due to COVID-19 pandemic. With the situation changing by the hour, it can leave you feeling lost and wondering what is going to come next.
Covid-19’s scourge has spared none, irrespective of sector, size and vintage. “This is not a three-week, one-month, or six-week phenomenon. This is going to run for quite some time and the level of severity will vary by industry. There will be segments, like travel and hospitality that will be extremely challenged.
For a lot of start-ups that are low on runway, the only focus at this point in time will be to survive the year. They need to completely rethink their business plans and take decisive action depending on the industry they are in.
The viral contagion is ravaging economies, people and livelihoods. Coronavirus or COVID19 has already impacted the whole world more than any one of us were prepared for. We keep hearing lockdowns and measures to beat the impact of the virus, but in parallel, the collateral damage that has happened to businesses has been unprecedented. The expert analysis clearly shows that no one was prepared for this impact, as it was so quick and had a ripple effect that became completely out of control.
We are a strong country, and we will get through this by following slogan “Sabka Saath, Sabka Vikas” (development for all) and now we have to win “Sabka Vishwas” (global trust) to recover from COVID-19 pandemic.
Impact of COVID19 on the future of jobs time to start thinking about strategic planning post-COVID-19, here are some current issues followed by opportunities that you can start working on now;
Full-time Jobs will reduce
Companies will move more to hire freelancers and contractual workforce to carry out more and more jobs they need
Remote and digital working will become the new norm
Technology will improve significantly to provide not only remote working with great experience but also remote schooling. Homes will start having a home office to qualify for jobs in the future. Everything digital will replace almost everything that needs physical to connect to remote connections. Social distancing being enforced will make an impact on social behaviour and more people will work remotely encouraging social distancing as an accepted norm for a longer period.
Salaries will become unfixed
The obvious reaction to a financial crisis is cutting costs.
New jobs of different kinds will be created
Crisis situations take away millions of jobs, but new ones get created soon. With COVID19, Healthcare and wellness sector will get a tremendous boost and create more jobs. Digital economy will get a major boost and create more jobs for technology professionals. A major change that will start happening is ‘localization’. With reduced travel and possibilities of reduced global trade, local economies will re-emerge and start creating small job opportunities that were destroyed by rapid and massive globalization.
Asian economies outside China will see an increase in manufacturing jobs
It is likely that countries will start looking at each other more suspiciously after the COVID19 breakout and start investing and building local manufacturing capabilities with lower cost and better efficiency. Manufacturing will start moving to South Asian countries out of China and will create more related jobs in those geographies.
Reskilling & e-learning adoption shall emerge even faster
The ability to learn any new skills quickly will be an added advantage for any job seekers as almost every business will need to pivot in some way or the other to adjust to the new emerging trends & global forces. Even the employers will be more willing to invest in helping their current workforce learn new skills rather than investing more in creating & hiring for full-time jobs that carry the risk of getting redundant again with the emergence of new needs & technologies. Hence, quick reskilling & up-skilling will be another new norm, that will in-turn enhance the rapid adoption of e-learning tools & platforms.
Fitment will overrule qualifications
With the changing needs of businesses on who they need to hire, increased focus will be to hire people with the right attitude who can learn any new skills faster than others. Degrees and qualifications will not matter as much as they did earlier. People will learn quickly to fit into new jobs and start in new jobs afresh instead of banking on their degrees & prior experience for too long.
Fresh graduates will be expected to learn by themselves & come prepared
Fresh graduates expecting lengthy training and getting paid during the period will fade away faster than expected. Fresh graduates will now make themselves ready for the job outside the system if they have to contest for a new job. The fresh graduates can also expect additional competition from the lateral and experienced people who will now be looking for new jobs and even ready to accept lower salaries.
Covid-19’s scourge has spared none, irrespective of sector, size and vintage. “This is not a three-week, one-month, or six-week phenomenon. This is going to run for quite some time and the level of severity will vary by industry. There will be segments, like travel and hospitality that will be extremely challenged.
For a lot of start-ups that are low on runway, the only focus at this point in time will be to survive the year. They need to completely rethink their business plans and take decisive action depending on the industry they are in.
The viral contagion is ravaging economies, people and livelihoods. Coronavirus or COVID19 has already impacted the whole world more than any one of us were prepared for. We keep hearing lockdowns and measures to beat the impact of the virus, but in parallel, the collateral damage that has happened to businesses has been unprecedented. The expert analysis clearly shows that no one was prepared for this impact, as it was so quick and had a ripple effect that became completely out of control.
We are a strong country, and we will get through this by following slogan “Sabka Saath, Sabka Vikas” (development for all) and now we have to win “Sabka Vishwas” (global trust) to recover from COVID-19 pandemic.
Impact of COVID19 on the future of jobs time to start thinking about strategic planning post-COVID-19, here are some current issues followed by opportunities that you can start working on now;
Full-time Jobs will reduce
Companies will move more to hire freelancers and contractual workforce to carry out more and more jobs they need
Remote and digital working will become the new norm
Technology will improve significantly to provide not only remote working with great experience but also remote schooling. Homes will start having a home office to qualify for jobs in the future. Everything digital will replace almost everything that needs physical to connect to remote connections. Social distancing being enforced will make an impact on social behaviour and more people will work remotely encouraging social distancing as an accepted norm for a longer period.
Salaries will become unfixed
The obvious reaction to a financial crisis is cutting costs.
New jobs of different kinds will be created
Crisis situations take away millions of jobs, but new ones get created soon. With COVID19, Healthcare and wellness sector will get a tremendous boost and create more jobs. Digital economy will get a major boost and create more jobs for technology professionals. A major change that will start happening is ‘localization’. With reduced travel and possibilities of reduced global trade, local economies will re-emerge and start creating small job opportunities that were destroyed by rapid and massive globalization.
Asian economies outside China will see an increase in manufacturing jobs
It is likely that countries will start looking at each other more suspiciously after the COVID19 breakout and start investing and building local manufacturing capabilities with lower cost and better efficiency. Manufacturing will start moving to South Asian countries out of China and will create more related jobs in those geographies.
Reskilling & e-learning adoption shall emerge even faster
The ability to learn any new skills quickly will be an added advantage for any job seekers as almost every business will need to pivot in some way or the other to adjust to the new emerging trends & global forces. Even the employers will be more willing to invest in helping their current workforce learn new skills rather than investing more in creating & hiring for full-time jobs that carry the risk of getting redundant again with the emergence of new needs & technologies. Hence, quick reskilling & up-skilling will be another new norm, that will in-turn enhance the rapid adoption of e-learning tools & platforms.
Fitment will overrule qualifications
With the changing needs of businesses on who they need to hire, increased focus will be to hire people with the right attitude who can learn any new skills faster than others. Degrees and qualifications will not matter as much as they did earlier. People will learn quickly to fit into new jobs and start in new jobs afresh instead of banking on their degrees & prior experience for too long.
Fresh graduates will be expected to learn by themselves & come prepared
Fresh graduates expecting lengthy training and getting paid during the period will fade away faster than expected. Fresh graduates will now make themselves ready for the job outside the system if they have to contest for a new job. The fresh graduates can also expect additional competition from the lateral and experienced people who will now be looking for new jobs and even ready to accept lower salaries.
Work From Home Channel by Rajan Joshi https://www.youtube.com/channel/UC2jQErSATgc4hUtC1qGnjyQ/ https://www.youtube.com/channel/UC2jQErSATgc4hUtC1qGnjyQ/
