The strategy that comes out of the pandemic lockdown and all its limitations of remote working, furlough scheme and other restrictions have been thought through over months, to reach the point where we are now?
by Victor Cherubim
After over a year of desperate delay in business confidence around the world, we now witness the emergence of a strategy to boost economies. Whilst not forsaking the innate desire of people to burst out shopping in High Streets in buying power, which they missed and which we now see unfolding, one of the unexpected effects of the pandemic is the creation of forced demand for goods and services. The secret is strategy.
The Bank of England has within the last few days increased its forecast for economic growth in 2021 from 5 % to 7.25 %. We now see more evidence of an economic recovery that is gathering pace, in spite of many lockdowns measures still in place. This has not come about by inaction during the pandemic.
Fortunately some measures have eased, and many more are in the pipeline to be relaxed from 17 May 2021, when lockdown is lifted.
The strategy that comes out of the pandemic lockdown and all its limitations of remote working, furlough scheme and other restrictions have been thought through over months, to reach the point where we are now?
Jobs, jobs and the creation of more jobs has been the highlight of this strategy.
While people were homebound, there were new jobs being created. If you cannot get out, you have to bring things to the doorstep. Amazon did amazingly well? An army of “Deliveroo” motorcyclists along with “Just Eat” bicyclists have been a sight on our streets delivering meals ordered from Mcdonalds to homes.
Asda the Supermarket Chain has been planning secure Home delivery boxes, bigger than post boxes outside homes, as it readies for a post lockdown world, where shoppers are back at work and are no longer home to receive grocery orders.These delivery boxes are insulated which can store chilled and frozen foods for up to 4 hours. Delivery drivers access the metal containers using a one time passcode.
Royal Mail is planning delivering letters and small parcels to remote inaccessible destinations, off the beaten track, by use of drones.
The Jobs Report
The Jobs Report compiled and commissioned by KPMG Accountants of 400 recruitment firms measured in April 2021 shows the sharpest new increase in vacancies since 1997. The demand for short term contracts has been climbing but vacancies for permanent jobs have reached the highest since March 1996.
While the number of vacancies was at a record high, the number of candidates for available jobs shrank in April this year. People are now afraid to switch jobs while everyday life remains under restrictions.
Other strategies for creation of jobs which have hit the bunker, is the culture in Britain of employing IT staff from India on freelance contracts. Thousands of IT Consultants from India came to the UK on very lucrative IT contracts over the past decade to cater for the fast growing IT industry and the growing need for IT flexible labour. The pandemic in India has put a temporary stop to it.
India has also suffered from the retrenchment of Call Centre Jobs by banks in the UK, and in particular, Barclays Bank which recently has moved part of its Call Centre work back to the UK.
But ancillary hospital European Nursing and Medical staff have after Brexit not been penalised. Britain is also open for skilled people from outside the EU with the points based immigration system, but it has still to take off.
Other Employment Strategies applicable in Sri Lanka
Among other employment creation strategies are Big Data collection, or number crunching to get a clear picture of what profitability looks like for businesses.
Our priority up to now has been crisis response, health and safety and essential services. However, what we “can do” in preparation for the next stage is Scenario Planning. This will not be a typical recovery as we lack effective and available therapeutics and the uncertain prospects in vaccine rollout.
We will need to have a plan for multiple scenarios and time frames, as our current crisis shifts from response to recovery with the next 12 to 24 months.
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