Looking Ahead: Positive Signs in the Marketplace

It’s been one month since most non-essential businesses closed, people began practicing social distancing, and a large amount of the workforce began working remotely to prevent the spread of Coronavirus. While the pandemic is far from over, things are beginning to look up for businesses across the country and the world. 

Based on projections from IHME, the country as a whole is past the projected peak – meaning that as long as social distancing continues, the number of cases should begin to flatten and then go down. This chart projects the peak need for resources as April 10th and the surrounding days. While certain areas have been affected more than others, this projection shows the curve beginning to flatten.

The stock market has started to improve in anticipation of businesses reopening and as the medical community works towards finding vaccines and other medicines for the virus. Most states’ stay-at-home orders last through the end of April, and while some may be extended, President Trump has announced that states have the option to begin reopening as soon as May 1st. Not all businesses will be able to suddenly open, but May 1st may mark the transition point when companies can begin to slowly, gradually return. 

While New York State has been ordered to stay home through at least May 15th, other areas that have not been hit as hard are expected to begin opening sooner. Boeing, one of the largest employers in the United States, announced plans to reopen their plant in Washington State by next week, bringing 27,000 workers out of unemployment. 

We aren’t out of the woods yet, but now is the time to begin planning for your business once you can open your doors again. While May 1st may be an overeager projection, it’s still important to use this time to figure out what your business will look like after the pandemic.

If you temporarily closed, how and when will you begin to reopen? If you’ve been operating remotely, what will the transition back to on-site work look like? If you laid off or furloughed your employees, how will you plan to hire them back? How will your business be affected in the long-run? 

Start considering your business’ future today – as Benjamin Franklin said, “Those who fail to plan, plan to fail.”

Does your business need help hiring once social distancing has ended? Contact TalentFlex Solutions to discuss your hiring plan, or for help staffing your business post-virus.