Uncertainty about the future is a worry: recent polls indicate that many leaders show concern about inflation and a possible return of a pandemic. But COVID-19 will also bring potential “card reshuffle” opportunities to the workforce.
The question is, has the pandemic had a positive effect in creating a pool of “new” talent – potential employees with work experience looking for new career opportunities?
The pandemic has led many people to make drastic choices from a business point of view, out of necessity or due to force majeure. And this is especially true for women.
For example, in the United States, millions of women quit their jobs during the first two months of the pandemic. According to a study by McKinsey and Leanin.org, female workforce participation has dropped to its lowest level in 32 years. Most went away unwittingly to care for children at home from school or relatives who had contracted the virus. Others have been fired, many for reasons we will probably never know. Others took advantage of the pandemic to retire early to retire. These phenomena have been even more pronounced for women in the emerging economies of the world.
This means we can expect a surge of capable people, primarily women, looking for work in the coming months, just as the pandemic subsides. Many are ready to learn new jobs and new skills in an economy that needs such a transition. Those organizations willing and able to train new employees in large numbers will have an advantage in this kind of war for talent.
Leaders now need to consider whether their organizations are ready to welcome the wave of talent we know is coming.