How COVID-19 Is Affecting the Contingent Workforce
La 18.06.2020, de
Regardless of what that looks like for your business, it’s important to find ways to be flexible and accommodating during uncertain times.
The COVID-19 pandemic is sending shockwaves through the economy. As of late March, a Bain/Dynata weekly survey reported that nearly 60% of Americans had experienced cuts in pay or hours, layoffs, or closed their businesses because of the virus.The fallout of these losses creates an unprecedented situation for HR crisis management. Many businesses have transitioned their workforces to a remote setup and are learning to accommodate the chaotic home lives of workers. As spending plummets in many sectors, companies must decide who they can still afford to pay.Know more: what does contingent mean?
During a time like this, contingent workers are particularly vulnerable. Airbnb terminated all of its contracts with contingent workers and then postponed summer internships while pushing back undergraduate hiring until next year. On the other hand, Microsoft and Facebook both announced plans to continue to pay hourly service providers even when their service needs are reduced.Every company faces unique decisions about gig workers. Regardless of what that looks like for your business, it’s important to find ways to be flexible and accommodating during uncertain times.