Coronavirus Gained the Top for Employers – They Should Use It Wisely | Gene brands | Business

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Forget the Age of Aquarius, thanks to the coronavirus pandemic, 2020 is the dawn of the era of the employer.We are already seeing the signs. Microsoft, LinkedIn, GE, Delta and others have announced layoffs. There will certainly be more to come. Are these layoffs really necessary? Not at all. In fact, many of these companies would continue to make a profit even if they kept these people at work. But let’s face it, the payroll has exploded in the last few years of growth, and now – an economic downturn caused by a global pandemic – is a great time to cut back on “fat.”

Due to the economic downturn, the job market has reversed. Just a few months ago, the biggest headache for any business owner or manager, big or small, was finding good employees. The workers ruled the roost. They demanded more benefits. They ghost the interviews. They played one employer against another. They publicly shamed their employers for their perceived bad deeds. They argued for higher wages, more protections and more flexibility.

And what could employers do if not respond in the best possible way? Many small businesses found themselves handing out higher minimum wages. Others had to come up with creative perks – like free time to care for a new dog, free haircuts and oil changes, educational funding, and prepared lunches – to keep their employees from leaving their business for a bigger competitor offering more lavish benefits. . The demand for good workers was high in a growing economy. But good workers were increasingly rare. You know what happens to the prices when this situation occurs.

But now things have changed abruptly, quickly and suddenly. The supply / demand curve has reversed. There are millions of unemployed people, and those who have their jobs keep their heads down nervously and work even harder to keep them. People who are lucky enough to get interviews show up. Employees who were quick to criticize or make public demands of their employers are now silent. They see the reality. They know they could be the next economic victim of Covid-19. They don’t want that to happen.

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