Randstad RiseSmart COVID-19 Employer Survey Provides Snapshot of How Us Employers Have Navigated Workforce Restructurings During Pandemicrandstad Risesmart COVID-19 Employer Survey Provides Snapshot of How Us Employers Have Navigated Workforce Restructurings During Pandemic
A new survey released by Randstad RiseSmart, the leading global outplacement and talent mobility provider, found that nearly half (47 percent) of US employers who have opted to furlough or layoff staff as a result of the ongoing COVID-19 pandemic are considering making additional workforce reductions in the next 12 months.
The survey was conducted online by a third-party survey provider and respondents included more than 250 human resources professionals at companies of all sizes across more than 20 industries.
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According to the survey, prior to the pandemic, 86 percent of employers were not planning to conduct separations, but the devasting effects of the crisis on the US economy forced drastic, widespread changes in talent strategies. During the peak of the pandemic in April, the unemployment rate rose from a low of 3.5 percent in February to a record high of 14.7 percent. In fact, in recent months, unemployment rose much higher than it did in the two years of the Great Recession.
“The COVID-19 pandemic has posed unforeseen economic burdens on organizations across various industries, leading many employers to make the tough decision to lay off and furlough talent as a result,” said Dan Davenport, president and general manager of Randstad RiseSmart. “While it is a positive sign that the unemployment rate is starting to decrease, we are still in the midst of this pandemic, and based on our survey results, more coronavirus-related layoffs could be on the horizon.”
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