A Collaborative Response To The Workforce Challenges Of The Coronavirus
The speed and quantum of change being brought about by COVID-19 is causing significant shifts in demand across industry sectors; from dramatic declines in hospitality and travel to massive increases in healthcare, distribution/logistics and select retail. These shifts demand innovative and collaborative responses to workforce management as the frictional cost and time associated with traditional resource management mechanisms (furloughs, layoffs, hiring individual full time employees or contractors) is too high for all stakeholders; companies, governments and individuals.
One such innovation is a talent exchange. In China, for example, companies have creatively started sharing employees, moving employees without work due to the COVID-19 outbreak from organizations like restaurants and lending them to others that have seen a spike in demand like Hema, Alibaba’s retail grocery chain that is well known for its fast grocery food delivery. More than 3,000 new employees from over 40 companies in different sectors have joined Hema’s employee sharing plan.