GUEST FEATURE - The Recruitment Network
5 potential recoveries - and how to plan for them
There is a lot of predictions about how we will emerge from the current situation – when will it happen There will be 5 types of recoveries – and these do NOT apply to whole economies – sectors, companies and indeed skillsets will fall into one of these areas:
Markets and organisations which will have a V-shaped recovery, i.e. very, very fast.
Those who will have a U-shaped recovery – steady return over some months (maybe a year) to pre-Covid19 volumes of work.
Those who which will stay low – L-shaped and will stay low for a long time. These are sectors/companies who just make it through the Covid19 period and will struggle to ever get back on their feet (firms who depend on personal contact who have experienced a huge drop in revenues with disproportionate fixed costs and who will have to regenerate demand and new clients)
Stretching and busting. Clients who will not get through this period. Some of the above, and these firms with high fixed lease costs, borrowings and who were in trouble prior to Covid19. Some airlines fall into this category. This may include under-funded charities etc. Organisations which are highly leveraged will not survive in their current state.
Flying high organisations who have continued to do well through Covid19 and will continue at current business levels or experience a dip, as competition enters the market. The former will include many areas of the Public Sector which will continue as is, and the firms who experience more local competition could be the on-line firms who have thrived through Covid19 but who will have high street competition re-enter the market post-Covid19
Use this simple approach to map out different areas as follow:-
Under each category, start entering markets, sectors, companies, organisations, and skillsets which will fall into each.
Build these lists
Create a plan and prioritise – objectives and actions
Implement and align activity and Day Plans with all the team