We are all seeing the news reports of how some businesses are doing as much as they possibly can to continue functioning and survive these unprecedented times, whilst others are having to cut staff or make use of the Coronavirus Job Retention Scheme by putting some members of staff on furlough.
Despite these organisations having to make difficult decisions surrounding their workforce, there are also many businesses who are still hiring, who are pushing ahead with their hiring plans that were in place before the lockdown, or at the very least still hiring for business critical roles. We have also seen companies who had already committed to hiring before the lockdown very much honouring those offers, arranging for them to be set up to work from home from day one, until they are back in the office.
Some disciplines have remained buoyant. For example, Risk resources are key hires and all roles are important, particularly when regulation driven. Compliance hiring, in particular for contractors, also remains buoyant from KYC/AML Analysts, to monitoring, surveillance, advisory, reg change and implementation.
Many of our clients have integrated video interviewing into their hiring processes for all roles, with some utilising Morgan McKinley’s meeting room technology and benefiting from high-definition video conference interviews.
These video interviews have already led to successful hires, with some recent hires now waiting to start and some already working where the hiring organisations have arranged for them to be set up from home so they can commence working straight away and don't have to wait until offices are once again open and restrictions on movement are lifted.
Whilst video conferencing tools have allowed remote interviews to go ahead, when an offer has been accepted and the new hire is due to start working, there have been challenges - namely around onboarding and how to get these new employees set up remotely to work from home. Some organisations have enabled remote access, with new staff using their own equipment (laptops, tablets etc.) whilst they are working from home. In other cases, company equipment has been shipped out to the new starters.
These unavoidable additional considerations have meant that some start dates have needed to be pushed back, just to ensure that the candidate receives all the necessary equipment enabling them to start their job from home. As mentioned earlier, some are honouring the hire but agreeing for the new joiner to start working once their offices are open again.
Those companies who are continuing with their hiring plans and have found ways to make things work remotely will likely find themselves ahead of the curve when it’s back to business as usual. Not just in terms of hiring the best people in the market, but also by being in the best possible place to push their businesses through the crisis and out the other side into a growth position.