The ongoing pandemic has brought a lot of uncertainty to many companies and even industries as a whole. We went from having the best job market the country has seen in years, to now the worst.
It has taken jobs from people, given jobs to people (yes, seriously), and changed the way people will work forever. While many swore that remote working would never work, it did-because it had too. Remote work has led to innovation, growth, and new ways of thinking.
A remote-working world is the only one many have known for nearly six months now-and it will have a lasting effect.
From video chatting for interviews and meetings to other platforms that have enhanced remote working, the technology will stick and become a new part of life.
Big companies such as Facebook and Twitter have even gone to say that they believe their employees, or at least some, will still work from home in the post-pandemic world. This could mean an array of things for the job market.
For starters, both national and global competition are more relevant now than ever. Working remotely means that your location is out the window. Whether it be across the country or across the globe, a company in New York looking to fill a position won’t care if you’re in California, Texas, India, Japan, or Italy. If you have the skills they are looking for, location no longer matters. The pandemic has taught companies that if their employees can do the job from their homes, why can’t someone on the other side of the globe do that job too?
On the other side of things, some companies may struggle to re-hire as the economy opens back up and demands rise. After months of shut down and lack of revenue, How will companies afford to pay employees that they haven’t had to pay for an extended period of time? The answer is they won’t.
Consumers and patrons will want products and services again, but how will businesses meet these needs after all of the revenue loss that is ongoing? Many places are still unable to function the way they were pre-coronavirus.
Big names have already been forced to file for bankruptcy and close numerous locations. Brick and Mortar along with Lord and Taylor are just two instances of companies who are struggling to bounce back from the shutdown.
So, the lack of ability to re-hire and the struggle to bounce back will also lead to more lay-offs and fewer jobs available.
Who flourished amidst the Pandemic?
While most companies have been hurt by the downtime and forced to let go of an abundance of workers, some companies have grown in ways that would’ve been impossible without the pandemic.
Online sellers have benefited greatly from the shutdown. Amazon, a name familiar to most, has thrived so much they were able to add 10,000 jobs to accommodate the demand. Without being able to go in-store shopping, consumers turned to a company that is a one-stop-shop for everything AND gets those products to you within a matter of days or even a single day.
Instacart is another name we have become familiar with due to the pandemic. This serves as no surprise since many were worried to leave their homes. The online grocery shopping and delivery app has also added hundreds of thousands of workers to fulfill demand. Not to mention their profits skyrocketed.
Digital content providers such as Netflix and Hulu have also benefited from people being stuck in their homes-no surprise there. With large content libraries, low prices, and nothing else to do, people invested money in getting these streaming services.
All in all, the coronavirus pandemic has reached everyone. Whether it be good or bad, every individual, business, and industry has felt some effect. Some of these effects may be ever-lasting, like the need for technology or remote-working. Other effects of the pandemic may fade away, but one thing is for sure-the job market is forever changed.