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CIPD Coronavirus webinar series
The impact of COVID-19 on the labour market
5 June 2020
Welcome
Katie Jacobs, Senior Stakeholder Lead, CIPD
Katie Jacobs
Senior Stakeholder
Lead, CIPD
Gerwyn Davies
Senior Policy
Adviser,
Labour Market,
CIPD
Today’s speakers
Alex Fleming
Country Head &
President of Staffing
and Solutions, the
Adecco Group UK
and Ireland
Toby Culshaw
Global Head of
Talent Intelligence
and Executive
Recruitment
Research, Philips
#StrongerWithCIPD
cipd.co.uk/memberbenefits
Covid-19 resources
NEW Well-being helpline
Employment Law helpline
Communities and branches
People Management
Knowledge and content
Free learning Careers support
Professional creditability
Financial support
Context
Gerwyn Davies, Senior Policy Adviser,
Labour Market, CIPD
Labour Market pre-CoronavirusUK employment rate (aged 16 to 64 years)
Labour market post-Coronavirus
Large variation across sectors:
What is emerging picture?
• Hiring intentions have fallen sharply in many sectors
• Redundancy activity much lower than it would have been due to:
• Job Retention Scheme• Employers employing a variety of tactics to stave off
redundancies
• Unemployment expected to rise sharply during course of 2020
• Youth unemployment will be a particular challenge• Large-scale redundancies seem inevitable once scheme
ends on 31 October
• Labour and skill shortages will continue to ease• Downward pressure on wages
Private sector workers should brace themselves for pay freezes or cuts
Key developments, challenges and solutions in run-up to 2021
• Winding down furlough scheme will put more upward pressure on unit wage costs in some sectors
• Apprenticeships (NLW, unused Apprenticeship Levy funds)
• Redundancies need to be equitable
• Flexible working arrangements provision
• Active labour market policies• Job/apprenticeship guarantee for young people
• Job creation plan aimed at infrastructure, green energy etc.
• Introduction of migration restrictions in January 2021• V-shaped recovery could see skill/labour shortages return
Alex FlemingCountry Head, UK & Ireland
Agenda
Our Response To COVID-19
LMO Report
The Future Of Work
• Redeployment
• Furlough
• Strategy development
• Increased internal
communications
• Positive and
motivating messaging
• Honesty
• Global support
• Share insight
• Safety first
• Build a growth
environment
• Develop to retain
talent
• Ongoing support
AgilityTransparencyLeadershipEmployee Wellbeing
Our Response To COVID-19
61%extending
homeworking
44%recruitment
freezes
32%flexibleworking
Hiring Intentions
• Growth sectors
• New opportunities
• Different ways of hiring /
virtual recruitment
Safe Working Arrangements
• Remote working
• Collaboration
• Technology
Agility and Coaching
• Strong leadership
• Reskill / upskill opportunities
Future Labour Market
Importance of Talent Management
*As reported by PWC
** Research from McKinsey
74%of the workforce are ready to learn new skills, or re-train to remain employable*
87%of executives at the start of the year said that they were experiencing skill gaps in the workforce or expected them within a few years**
New in-demand Skills
Reimagining Creativity
40% 25%of 18 – 24 year olds workers
are considering a career changeof 45 - 54 year olds are considering a
change in role post pandemic
Longer-term Impact of COVID-19 on the Workplace
Working Environment
Business Culture
Importance of Skills
Reduced need for physical
workplace
More agile and flexible
Social contact is required to
form relationships
Skills for the future
Resilience, agility and
creativity
Defined goals
Culture of positivity and
trust
Remote working
Increased automation
Role of Technology
Thank You
Questions
Please use the Q&A function to submit your questions
Please submit your questions for:
• Toby Culshaw, Global Head of Talent Intelligence and Executive Recruitment Research, Philips
• Gerwyn Davies, Senior Policy Adviser, Labour Market, CIPD
• Alex Fleming, Country Head and President of Staffing and Solutions, the Adecco Group UK and Ireland
#StrongerWithCIPD
cipd.co.uk/memberbenefits
Covid-19 resources
NEW Well-being helpline
Employment Law helpline
Communities and branches
People Management
Knowledge and content
Free learning Careers support
Professional creditability
Financial support
*New* Well-being Resources
• The resource provides:• Legal information
• Debt and financial information
• Manager consultancy and support
• Information on work and home issues
• Factsheets, advice, information and self-help tools
• Links to specialist support organisations
• A resources area with; programmes, videos, webinars, medical information and mini health checks.
• We’ve partnered with Health Assured to support members mental health and well-being
• Unlimited free 24/7 confidential telephone helpline, online portal & Health e-Hub app
Further information
NEW well-being helpline for CIPD members
Labour Market Outlook: Spring 2020
CIPD coronavirus hub
CIPD COVID-19 workforce planner
CIPD community
Gov.uk/coronavirus
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