The impact of the Coronavirus on the global workforce has been devastating.
According to a recent article in Fortune Magazine, there are more than 33 million unemployed Americans today, or a real unemployment rate of 20.6% – the highest since 1934. Hourly workers (almost 60% of the workforce in the US) have taken the worst hit.
The global crisis is expected to diminish working hours globally by 6.7% in the second quarter of 2020. That is equivalent to 195 million full-time workers, according to the International Labour Organization.
Large reductions are foreseen in the Arab States (equivalent to 5 million full-time workers), Europe (equivalent to 12 million full-time workers), and Asia-Pacific (equivalent to 125 million full-time workers).
These are difficult times.
In organizations providing essential services, such as healthcare, emergency transport services, and utilities, talent acquisition teams are working long hours and are under constant vigilance to do more with less. Recruiters are striving to achieve greater efficiencies and flexibility in their hiring efforts to get people back to work.
For most industries, the economic impact has been severe. Organizations across the board are dealing with hiring freezes, salary cuts, and furloughs. It’s hard.
At Joveo, we saw this first hand as customers and friends we have been working with for years, called us about the difficult decisions they were facing – and the sleepless nights that come with them. This is personal to the entire Joveo team.
This is not about deploying people, it’s about saving lives and families!
Unemployment rates are hitting unprecedented levels globally.
However, in the coming weeks and months, businesses in some industries are expected to begin the recovery, following a V-curve revenue trajectory. These businesses will face a sudden rush to refill vacant roles. This is especially true for hourly positions in the services sector: hospitality, food services, etc.
Some other industries will take a longer term hit. Workers will need to re-skill and re-tool, as not all furloughed workers will be called back.
Our company name, Joveo, originated from our mission: delivering the right “Job for Everyone.” This has never been more important.
It is no longer a choice but our duty as an industry to work together to come up with practical and impactful solutions to get the world back to work.
It’s extremely encouraging to see that some key players in the human capital ecosystem are stepping up to the occasion.
For far too many years, hourly workers have been underserved by recruitment technology. With the launch of Alexander Mann’s Hourly platform, this is no longer the case.
Getting the World Back to Work: A Million Dollar Commitment from Joveo
Talent acquisition teams will play a critical role in getting the economy and workforce back to pre-crisis levels, as the world begins to recover from this health crisis, in the near future.
A massive spike in workforce demand is expected in the short-term and recruiters will be tasked with hiring workers at scale, in the shortest time possible. Equipping them with the right technology is crucial in helping them achieve their goals, get people back to work, and expedite economic recovery.
Last month, we initiated a campaign to help organizations recruiting essential service workers by waiving platform fees and providing assistance from our services teams. This effort was extremely well received and we’ve signed on HealthTrust, Mint Physician Staffing, Jackson Healthcare, Silver Medical Staffing, Sodexo, and several healthcare organizations.
On this International Workers’ Day, I am thrilled to announce an expansion of the scope of our initiative to help put the world back to work.
Our partners and investors have agreed to support this, so we can help even more employers and candidates – setting aside US $1 Million for platform fee waivers, our commitments to manage it for them, and bringing in additional applications to help organizations with their candidate sourcing efforts, at no cost to them.
Our combined mission is to get people back to work by enabling recruiters to quickly hire the high-quality candidates they need during and after the crisis.
This is very personal to me. I want to help and see the recruiters we support succeed. I am pledging my salary to help my company to fund this initiative.
- To get access to our platform and applications for free, apply to our COVID-19 offer now.
- If you are a publisher and would like to support this initiative by offering free traffic and applications for essential services organizations, please reach out to our Vice President of Partnerships, Dan Sapir, at [email protected].