Nearly all businesses have been impacted to some degree by the COVID-19 pandemic.
With unemployment in both the United States and the European Union having reached record levels in recent weeks, the economic consequences of the crisis continue to reverberate far and wide across the global economy. And while a number of firms and businesses – Avature included – have managed to successfully transition to a full capacity “work from home” model, recent layoffs highlight the especially precarious nature of non-permanent employment in these extraordinary times. Given the transient, per-project model of the modern gig economy, it’s perhaps no surprise that contingent workers (i.e., 40 percent of the global workforce) were the first demographic to truly feel the financial squeeze of social distancing and shelter-in-place orders.
And yet, what is rather startling – particularly from a HCM perspective – is the sheer number of top-tier, expertly skilled and highly specialized consultants that are now suddenly swimming free in the open ocean of contingent talent.
In any crisis, it’s both easy and understandable to focus on mitigating losses in the here and now. Nevertheless, the COVID-19 crisis, like all crises, will eventually subside. Hiring freezes from March and April will thaw,
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