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The coronavirus crisis has really forced many employers to make tough decisions, ranging from layoffs and pay cuts to work-from-home accommodations to revamped employee benefits. HR professionals have been on the front lines of these changes at a challenging time, working to meet organizational and employee needs while protecting employer brand.
Is it possible to take aggressive steps to fight the coronavirus pandemic—while also ensuring business continuity? According to Leslie Michelson, executive chairman of Private Health Management, the answer is yes.
The coronavirus’ impact on American businesses has been sudden and dramatic. Restaurants with full reservations just weeks ago have been ordered to close their doors. Crowded offices have turned into empty rooms. Companies that were busy hiring are now busy trying to avoid layoffs.
Between 2005 and 2017, the number of remote workers in the U.S. increased by 159%, according to The 2017 State of Telecommuting in the U.S. Employee Workforce Report. Today, only a few months into 2020 and in the wake of a global pandemic, a vast number of employees will experience firsthand just what it’s like to be part of a remote workforce—and companies on what it’s like to run one.
The stock market has taken major hits in the last weeks due to the effects of the coronavirus, which has economists discussing just how bad this downturn could get. In fact, some experts say the U.S. is already in a recession—or is soon to be in one.