COVID-19 PANDEMIC: THE JOBS IMPACT by Evelina Roseman Ph.D., MBA, Chief Economist

Leaders Magazine Issue 1 April 2020

Working together globally

The current crisis is not of economic nature, but: (1) it will take much longer to restart the global economy than it took to shut it down; and (2) it has exacerbated issues that have been accumulating for a while, like “the delicate state” of the world economy and the “new mediocre” of the global slowdown on the one hand, and the driving force of technology innovation making globalization stronger, on the other.

Same is true for human capital. Top of the pyramid, the talent behind the digital evolution, will thrive on this.  The bottom of the pyramid will experience a crash, as small and micro businesses have to come to a grinding halt, but the demand for simple services delivered human to human will pick up and resume, the first chance they get. And the middle class jobs and businesses will get squeezed even harder, forced to make choices between downshifting and competing with the digital natives.

Either way, globalization will get stronger coming out of this crisis, and humans should use this time to bridge the skills gap and invest strategically into their future. 

"Globalization is an objective force, so it uses every impulse, even a negative one like this pandemic, to get stronger. Never waste a good crisis!

Evelina Roseman Ph.D, MBA, Chief Economist Tweet
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Actively listening to others elevates them and elevates your value as a professional. Collaboration, which begins with listening before talking, is essential for growing it forward. We have the brain trust to make great things happen in our careers, companies and society!

Tracy Levine, Forbes Coaches Council Tweet
Globalization will get stronger coming out of this crisis, people should use this time to bridge the skills gap and invest strategically in their future.
We have all gotten very good at washing our hands repeatedly.  Acquiring similar computing hygiene is the first step in stopping the spread of cybercrime.
Some businesses in a more liquid position may use this time to implement the innovative changes they have desired to make, but have not had time to do so.
While it is heartbreaking to see so many lives lost to COVID-19, this pandemic is bringing out the best in people, and technology is an enabler.
"Companies who had Flexible Working Policies in place in advance of the epidemic are adapting easier to the New Ways of Working. Maintaining productivity is important during these times but striking a work-life balance is equally important." by Ania Caruso CPCU, VP, Business Development, The Plexus Groupe
In a crisis, we return to the truest version of ourselves. For my team and me, that is to be a source of calm and confidence amidst the chaos.

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