The majority of current layoffs have been in the tech industry, but there have also been significant layoffs in industries such as healthcare, tourism/hospitality, retail, manufacturing, construction, and transportation/warehousing. Although layoffs have always been an issue, the recent increase is due to the COVID-19 pandemic, which led to supply chain disruptions, an economic slowdown, and inflation. According to the International Labour Organization (2022), the pandemic is estimated to have pushed global unemployment to 200 million in 2022, up from 186 million in 2021. This represents an increase of 14 million in just one year. The ILO estimates that the global labor market will not fully recover from the pandemic until 2025.
Category Archives: Organizational Change
3 Science-Backed Ways To Improve Productivity In Workplaces
Workplace productivity plays an integral role in determining the overall success rate of a company, hence the reason why companies have recently begun to devise new innovative strategies to improve employee performance. According to Gallup’s (2022) state of the global workplace report, only 21% of workers are engaged at work and only 33% of overall employees are thriving when it comes to their well-being. More than ever before, companies are saddled with the responsibility of finding innovative ways to increase productivity (Guillaume et al., 2017).
Why Your Company Should Embrace Organizational Change: The Case of Patagonia
If there’s something the COVID-19 pandemic has taught the world, it’s that very small things, as small as a virus, can create big changes and make a huge impact. Change can be difficult, stressful, and overwhelming, but it’s inevitable and both leaders and teams of organizations need to develop specific skills to manage it. Although organizational change is usually seen as a negative thing, it is necessary and can lead to positive results. There’s no better example than the one set by Patagonia, an outdoor clothing company that embraces change and is inspiring other businesses to do the same through big & small impactful actions.