Author: Anjana Devi (Paybooks Technologies) |
The COVID 19 pandemic has affected workforce management in Fortune 500 companies as well as SMBs in two ways. Firstly, the rapid contraction in global economies has led to massive layoffs and disruptions in recruitment cycles. According to a survey by Vistage, only 19% of SMB CEOs are looking to expand their workforce during the pandemic. This will result in a talent gap stymying the future growth of these companies. To maintain productivity, there is added pressure on the HR department to manage their remaining talent pool efficiently.