As companies and the country as a whole begin to emerge from the COVID-19 era, there have been significant changes that have varied considerably by industry. In examining four different industries at a high level, IT, Manufacturing, Travel, and Media, some are predicted to fare much better than others as we move into the post-pandemic phase.
IT Industry
The IT industry has had an interesting time that is contradictory to many other industries during COVID-19 with an influx of work. Many IT professionals have been working around the clock to set their employees up for remote work, implement additional cybersecurity measures, migrate data to the cloud, implement telemedicine capabilities, set up teachers for distance learning, and much more. While there will be supply chain delays, overall, the prediction for the tech industry is to stay healthy as more staffers and employees will work remotely some or all of the time moving forward, some schools may continue digital learning, and telemedicine continues to expand.
Manufacturing
The manufacturing industry is predicted to have a significant number of shifts and disruptions, but there might be a positive forecast on the near horizon. While traditionally slower-paced, these companies are being pushed to innovate faster than ever. There will continue to be issues such as supply chain disruptions and keeping a safe environment for both employees and customers. Additional industry-specific workforce requirements have been put into place by the Occupational Safety and Health Administration (OSHA) for various manufacturing positions.
Airlines, Travel Agencies, and Hospitality Companies
There will likely continue to be a long time before business returns to normal with an estimate of three to five years for airlines. With new safety guidelines in place, including removing rows, limiting passengers, and increasing cleaning procedures, there may be decreased revenue resulting in additional temp staffing and permanent employee cuts. Additionally, hotels, cruise lines, trains, and more have stricter capacity regulations, resulting in decreased revenue and less work short-term for travel agencies as well as those individual entities.
Media and Events
The media and events industries have unfortunately taken a hard hit with substantial layoffs during COVID-19. Many live events and conferences that were scheduled months or years out were moved to virtual, postponed, or canceled entirely. As social distancing continues to be in play for the foreseeable future, many live events will most likely pivot to online or smaller venues. The New York Times estimates that 36,000 workers in the media industry have been furloughed, laid off, or are receiving reduced pay with many publications shuttering permanently or moving to digital-only formats.
For guidelines on other industries and updates to health and safety steps, please visit the CDC website.
If your company needs support for staffing or resources for your specific industry, please contact the TRC Staffing Services team today.
Resources:
https://www.marketwatch.com/story/in-effort-to-restore-confidence-united-airlines-unveils-coronavirus-safety-guide-after-backlash-for-flying-a-packed-flight-2020-05-20
https://www.forbes.com/sites/annashedletsky/2020/05/05/the-covid-19-problems-that-will-force-manufacturing-to-innovate/#278f9c1130d0
https://www.forbes.com/sites/annashedletsky/2020/05/05/the-covid-19-problems-that-will-force-manufacturing-to-innovate/#278f9c1130d0
https://www.osha.gov/Publications/OSHA4002.pdf
https://www.pwc.com/us/en/library/covid-19/coronavirus-impacts-media.html
https://www.nytimes.com/2020/04/10/business/media/news-media-coronavirus-jobs.html
https://www.cdc.gov/coronavirus/2019-ncov/community/worker-safety-support/index.html