Watch the bottom line
The economic impact of COVID-19 is uncertain and some industries have seen extensive impact while others have not. That pattern is likely to continue through the recovery, particularly as later waves have an unpredictable effect.
In any case, the return to work will continue to require employers to manage ahead for reduced cash-flow, supply chain impediments, diminished business opportunities, and other risks. In Asia, as in the West, employers are and continue to assess and revise compensation structures, headcount, and benefits. Making these changes rapidly and in response to international challenges will keep HR and other people professionals busy for some months to come.
Asia’s experience with the virus has provided some helpful tips for what many western companies may see as they now begin to emerge from government-enforced lockdowns. But, the process has only just begun, and U.K. employers should continue to look to international experiences for insight into how to face these novel issues.
Trent Sutton is the office managing shareholder of Littler’s Singapore office. Raoul Parekh is a partner with employment law firm GQ|Littler in London.
Read More:
Lessons From Hong Kong in the Time of Coronavirus
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