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