Immediate and urgent action is needed to protect jobs, maintain links between employers and employees, keep large and small employers afloat, and provide income support and other safety nets directly to workers and households. This is where the efforts in many advanced economies and emerging markets have focused although much greater support is needed in developing economies. We must recognize this moment as an opportunity to “build back better” and lay the foundations of a more resilient labour market and more equal world. Here are five ways to do this.

SOURCE: World Economic Forum

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There’s a proverb that goes: “The best time to plant a tree is 20 years ago. The next best time is right now.” The naturally vulnerable Small to Medium Enterprise (SME) and entrepreneur sector would have done well to build their resilience prior to COVID-19. But if they didn’t, as with so many, right now is the time to plant the seeds for short, medium and long-term resilience.

SOURCE: World Economic Forum

Image credit: REUTERS/Eva Plevie

The pandemic has accelerated the need to ensure that people around the globe have the necessary technology skills and access to do their jobs. Even as China shows signs of recovery and the number of new daily infections worldwide appears to have stabilized, the US has seen an unprecedented number of people file for unemployment, and 57% of Americans surveyed recently report feeling worried about losing their jobs.

The current picture is bleak — and many parts of the world still haven’t felt the pandemic’s full impact. However, recovery will come, so what should individuals be doing to make sure they can come back to the workforce stronger?

SOURCE: World Economic Forum

Image credit: DarkWorkX on Unsplash

In the post Covid-19 world, Indian enterprises will scale up their digital push and reskilling efforts, which could open up new commerce opportunities, assisted by technology.

In a conversation between Aarthi Subramanian, Group Chief Digital Officer, Tata Sons and Anant Maheshwari, President, Microsoft India, during its virtual edition of ‘Envision’ event, Subrmanian touched on four areas of digital transformation opportunities seen across the different group verticals: new end-to-end customer journeys, increased adoption of automation in manufacturing industry and improved employee engagement due to distributed workplaces.

SOURCE: https://www.thehindubusinessline.com

Image credit: A file photo of Aarthi Subramanian, Group Chief Digital Officer, Tata Sons

The COVID-19 crisis has already upended our economy in novel ways, and is poised to accelerate other forces, including automation, that were already reshaping the workforce.

Already, there are indications that this downturn may trigger more fundamental shifts than a normal recession. Some economists estimate that more than 40 percent of recent layoffs could become permanent.

SOURCE: https://www.forbes.com

Image credit: GETTY

As the Covid-19 crisis spreads to new epicenters in Europe and the U.S., companies are scrambling to mobilize responses. There are no easy answers, due to the unpredictability of disease dynamics, a lack of relevant prior experience, and the absence of plug-and-play instructions from government or international authorities.

SOURCE: Martin Reeves , Lars Fæste , Cinthia Chen , Philipp Carlsson-Szlezak and Kevin Whitaker