How to Best Manage the COVID-19 Economic Recovery
How a Flexible Workforce will help you manage through the COVID-19 economic recovery
Prior to previous recessions, companies started to scale back the use of temporary or flexible labor and started hiring more associates directly into full time positions. It seems to make the most sense. When things are going well, business leaders start to feel confident about future sales and profitability. However, going away from the fundamentals of managing the amount of personnel you maintain as full time can be costly. It can also be painful and extremely time consuming. The COVID-19 crisis will have the largest economic impact on our economy in decades. In order to regain profitability, we are all going to have to be creative and innovate, but we also have to get back to fundamentals.
Utilizing a Flexible Workforce effectively during the recovery will allow companies adjust their workforce up and down as the economy recovers, and as sales fluctuate. It’s also likely that we will have several economic starts and stops as the healthcare industry learns the best way to manage the virus. Utilizing a company like HTI allows you to scale up quickly when the time comes. If things then slow or stop again, HTI will manage the furlough process and look out for affected employees.
Benefits of a Flexible Workforce:
- Ability to scale up or down the workforce efficiently
- Lower overhead (yet fully benefited workforce)
- Decrease unemployment risk
- Reduce workers comp risk
- Allows HR ability to focus on core concepts in lieu of hiring and furloughing
We have a lot of good candidates available right now, ready to assist you during your recovery. Let us build a Flexible Workforce that will make your transition as smooth as possible. If you’d like advice on structuring your workforce during this time, reach out to us at any time.