We conducted this research in June 2020 to help us all understand the challenges being faced across organizations making hiring decisions during and post Covid-19 related shutdowns, layoffs and furloughs. By partnering with Fuse Insights we were able to conduct a thorough and informative quantitative study. The study had 65 completed responses from a cross section of companies within marketing and advertising. We've compiled some highlights and key findings below.
If you want the full study results, get in touch. We'd be happy to share.
What did we find out?
Some interesting findings – we anticipated some of but were surprised by others:
The majority of participants said their business has been negatively affected by Covid-19, but a minority suggest their business is better off now than it was before the pandemic.
8 out of 10 said their company has learned to be more efficient as a result of the ongoing disruption; and three quarters say the lockdown has given them opportunity to reconsider their hiring and staffing needs.
More than half have had to cut headcount, pay or both; but this is much more prevalent among larger firms (250+ staff) than smaller ones.
Working from home is unsurprisingly the norm now, but surprisingly few respondents think it’ll remain the default after Covid-19, with several citing mental wellbeing issues and the difficulties in collaborating as challenges they’re currently facing with remote working.
6 out of 10 participants say their business has been hit by Covid-19
Unsurprisingly, the majority of participants said their business has been negatively affected by Covid-19 and the associated disruption; more intriguingly, 1 in 3 say they’re better off than before the pandemic.
Just over half (55%) of participants have had to cut headcount or pay; however, not all see it as a bad thing
First is that three quarters of participants whose companies have reduced headcount said they’ve also reduced salaries or hours, suggesting either a sequential process (cut salaries, then cut headcount as the pandemic dragged on), or a comprehensive package to streamline the company.
Second and more intriguing, a minority (28%) of participants whose organizations have had to make cuts said their business is actually doing better than it was before Covid-19.
Three quarters plan to hire post-Covid-19, but it won’t be immediate for most
We are starting to see some of this hiring happen right now. Participants said their organization plans to hire (or rehire) staff in the short to medium term. This doesn’t really vary by company size, and isn’t notably higher among those firms forced to cut headcount during the pandemic.
In total more than half of participants say their company plans to hire new full time employees once business returns to normal.
Working from home is the norm now; but only a third think it’ll continue
Before March, only 17% of participants said their company had working from home available to most staff at least some of the time; more than 80% said working from home either wasn’t a policy, or was limited to only some staff.
Unsurprisingly, working from home is now the default; but after Covid-19 the picture is less clear. Only about a third say that working from home will be available to all staff; and 29% said it either won’t be available or will again be limited to only some staff.
Digging a bit deeper into these numbers brings up some challenges we've all been facing with a permanent work from home set up.
Q. What are some of the challenges you’re seeing from staff working remotely?
23% identified isolation, loss of human connections and interaction
20% juggling with family needs
18% collaboration (formal or impromptu/organic)
14% output: focus, speed, agility, productivity
What does this all mean?
Some suggestions for moving forward:
You’re not alone. Not one company can say they have identified the magic solution to their staffing needs.
Working from home is not one size fits all. If your company is going to continue to work remote, identify the individual needs of your employees to ensure they are set up for success and productivity.
Many have identified positive organizational changes as a result of lockdown. From disruption comes a rebirth. Consider options your organization may have never considered before. There’s more than one way to conduct your business.
When re/hiring, consider the market will be oversaturated with candidates. This makes your hiring process more time consuming and complicated. Candidates are applying to all open opportunities, regardless of their qualifications or interest level. To ensure your candidates are qualified and are sincerely excited to work with your organization, talk to us!
If you would like the full results of the survey or to discuss your hiring needs, please get in touch.