By Katie King
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May 5, 2020
Three months ago, we never would have dreamed that the majority of people would be working from home, that we wouldn’t be able to nip to the shops for nonessentials, or that we couldn’t gather with friends and families. But here we are, living in a world that is (almost) completely locked down. In the short amount of time since the novel coronavirus (COVID-19) outbreak began and rapidly spread across the globe, we’ve experienced massive shifts in the way we live and work. Some of the biggest impacts have been economic, as social distancing and government regulations have caused trading to cease for so many businesses, the consequences of which are likely to be felt for many years to come. It is still uncertain when our lives will regain some semblance of normalcy, and what “normal” will look like. This pandemic may have forever reshaped the way that business is conducted, with many organisations adopting new technologies or normalising remote work. Others may unfortunately have no business or job to return to in the short term. It’s very difficult to predict with any certainty what the future holds. But based on current trends, combined with over 30 years of experience consulting some of the world’s top professionals, here are the impacts you can potentially expect the workforce to face, and some advice for how you can overcome it. The Situation as it Stands Certain countries are beginning to ease their restrictions slowly in order to preserve their economies, but great damage has already been done. According to the BBC’s live updates on 29 April 2020, the UN has assessed that 1.5bn workers are at risk of having their livelihoods destroyed. China, Germany, and the United States all saw their GDP and economies shrink in the first quarter of 2020. A staggering 26m Americans have filed for unemployment benefits since the pandemic began in March. Here in the UK, the situation isn’t much better. According to data gathered by a group of university researchers at the Enterprise Research Centre, over 61,000 limited companies folded between the start of March and mid-April with a parallel drop in the numbers of new firms registering with Companies House. The National Institute of Economic and Social Research (NIESR) predicts that Britain’s economy is likely to lose around £800bn of income over the next 10 years due to the current lockdown and a spike in unemployment. These figures paint an admittedly bleak picture, but there are measures you can take to help stay afloat. Both businesses and professionals may have to adapt their ways of thinking and their tactics in order to get back on track. Embracing New Technology What a busy few weeks it has been for platforms Zoom, Microsoft Teams, and Google Hangouts as workers in ‘nonessential’ roles transition to remote work! The feasibility of remote work is arguably one of the biggest revelations of this situation. A major caveat though is that the organisation needs to be open to wider technology such as Cloud, IoT, and so on. Some companies have been resisting digital transformation for a while now. That way of thinking no longer works, and it’s unlikely that these businesses will be able to revert to their old ways when all of this is done. Employees now have evidence that their jobs can be done remotely, and some may lobby to stay that way. This may be a model their organisation has resisted or rejected in the past, but is now worth considering. The pandemic has impacted bottom lines, and many businesses will be looking to cut costs. Remote work is a great option for reducing overhead and eliminating costs for office rent, utilities, supplies, and so on. In fact, some tech-savvy companies may feel inspired to innovate even further, and adopt technology like artificial intelligence to maximise efficiency while minimising costs. Upskilling to Futureproof Now is a great time to upskill and educate oneself on new technologies or skills. Continuous learning enables motivated employees to become key assets to their organisation. As many organisations inevitably head in that direction, knowledge of fourth generation technologies, understanding of potential business benefits, and awareness of key vendors will prove incredibly valuable moving forward. This is an opportunity for employees looking for more responsibility or a change in role, and for leaders looking to guide their organisation forward. Technology isn’t the only area where there is an opportunity to learn. There are numerous affordable (and some free) resources, webinars, and courses available online spanning every topic imaginable. Learning a language, retraining, or picking up a new, relevant skill are all fantastic and valuable uses of your time! Plus, it’s just a great way to remain productive and combat the dullness of lockdown. Developing knowledge or expertise in a specific area could open up avenues for thought leadership opportunities. Or if you are one of the many who have unfortunately been made redundant during these challenging times, adding new skills is a great tactic to make you incredibly marketable in the changing jobs market. Professional Development The sad reality is that many companies have had to make difficult decisions to cut staff to save costs, and some have already gone under. The job search can be intimidating and a daunting at times. Perhaps it’s been a while since you’ve been in the market for a new position. Maybe you just don’t really know where to begin. Understanding the market you’re entering is a strong starting point. You should arm yourself with key insights about your industry of choice, and familiarise yourself with the key issues consuming your potential employer. This arsenal of information will allow you to identify the skills and experience that provide the most value so that you can champion these in your personal branding. Your CV should be up-to-date and accurately reflect your accomplishments, experience, and skills. Tailoring your CV and covering letters for each role you apply to may sound tedious, but it goes a long way in illustrating your interest, motivation, and thoughtfulness. Many interviewers are now requesting video based CVs and interviews, which can be daunting for some who lack these skills. Getting your CV seen by the right people can be achieved through strong thought leadership on LinkedIn, a personal blog, or other social platforms. It can also be assisted via strategic introductions to key contacts. All of the above can be accomplished on your own, and will take some time investment. There are some great articles out there with tips that may be helpful. It’s obviously difficult to get out there and meet potential contacts, but there are numerous free virtual networking events available via Zoom from various professional organisations. I actually hosted one of these for Kent Invicta Chamber of Commerce and law firm Furley Page last week. Alternatively, you can seek professional help if you are looking for more in-depth guidance or help. We can certainly support you with outplacement services to help you develop your personal branding, facilitate key introductions, conduct industry research on your behalf, or provide training for upskilling This includes CV writing, help with your LinkedIn, interview training, or networking. Having a little extra help in your corner means you don’t have to navigate the job market alone. While we still don’t know what lies ahead, there are steps that can be taken today in order to prepare for what may come. I think we can all agree that technology will play a big role, and is worth embracing. We’re all having to put ourselves out of our comfort zone and embrace the need for continuous learning. Stay strong, stay healthy, and stay motivated everyone. There’s a light at the end of this tunnel! To learn more about Zoodikers’ outplacement services, please click here to download our brochure or visit our services page .