The undisputed value of people
It is deeply saddening to hear about further job losses from M&S, Sainsbury and Lloyds banking Group as the pandemic grips again and (in England) we enter a second albeit slightly different form of lock down. At the same time, we read about some surges in re-hiring professionals which will no doubt result in a re-distribution of the talent pool as companies transform (or not) to a new style of trading.
I agonise with companies that are faced with the choice of letting staff go or simply not surviving this part of the journey. Surely demand for products and services will remain but will change as customers and consumers move towards different needs and habits. This suggests that the labour market is and will re-distribute with certain sectors moving increasingly forward whilst others dwindle away.
Sad, very sad, but in terms of retail I believe that the High Street (as we love and remember it) died a long time before the pandemic. Retail consumers are now seeking another experience be that online or in retail parks and leisure areas. Look at the rise of Amazon if there is any doubt about this, and the success of out of town leisure and retail combinations with customers able to shop, dine and even watch a movie!
Whilst a significant cost, and saving when reduced, I believe the pandemic has hammered home the value of people to business, and reinforced the fact that staff are the greatest asset any business has. Cold metal and hard cash do not have the creative ability to make the transformation business will need to be successful in the post COVID-19 world.
What is crucial now surely, is that people upsell their skills and showcase their talent, experience, and expertise. In turn, and in particular in construction, that companies continue to acknowledge that it is their people that have thus far made significant contributions to reassessing the needs of the sector and bringing about change which has led to improvements.
The construction industries have been identified as essential which has meant that hard and clever work was accomplished during the first lock down, and no doubt will be in the second providing supply chains can stand firm.
Stay safe, and please comment below.