74% of the respondents believe that the crisis will influence their business.

2/3 of the respondents delayed their hiring plans by at least 3 to 4 months, or even a year.

 

Randstad’s HR Trends Research 2020 is published at a crucial moment in time, regarding the economic and labor market crises. COVID-19 entirely changed the way businesses operated, leading to the restructuring of working habits. 

Remote working has become an everyday necessity and a fundamental part of a flexible work model. Recruitment and employee retention are in the spotlight, while technology has been the key solution to the crisis. This year’s edition of HR Trends Research focuses on the greater impact of the pandemic. It analyses HR and business measures for dealing with the crisis and examines recruitment processes. 

There were 2 research periods, the first one took place from December 2019 – March 2020. The second research period was between April – May 2020, right after the spread of the pandemic. 300 interviews of senior executives, from different companies and departments, were conducted. Moreover, the research presents a current Greek market salary report, highlighting the post Covid challenges and opportunities for companies. 

two thirds of the respondents believe their business will be negatively affected in the short term 

Responding companies consider that the overall economic situation in Greece will be the most impactful factor for their businesses, in 2020. Particularly, smaller companies seem to be more concerned by cost related aspects such as cost management or pressure on pricing. On the other hand, 20% of respondents maintain a positive attitude, claiming that their businesses will grow during the post Covid-19 era. Similarly, 77% of respondents to the pre-Covid survey believed that their sales volume would increase in 2020.

Furthermore, the results showed that 67% of respondents are expecting a decrease in their business on the short-term, whereas only 17% of respondents remain optimistic. The sales department is considered to be the most affected by the COVID crisis, being selected by 80% of the respondents. It is followed by the production and HR departments, selected by approximately a quarter of the respondents. 63% of respondents argued that their company did not have a risk management department, when the crisis emerged. Finally, negatively impacted companies were affected in terms of company development, revenue, difficulty in finding capital in start-ups, forced telework, costs increase, suspension of partnerships, liquidity delays.

working remotely and upgrading IT network & tools 

During the pre-crisis period, the focus was on talent recruitment, whereas now HR’s priority is to invest in the training and upskilling of employees. Regarding the measures that were taken by companies during the crisis, emphasis was given on the restructuring of the work model, as well as on contract suspension. Particularly, two thirds of the responding companies transitioned to mandatory work from home and more than half of them suspended all travel.

Additionally, 67% implemented more stringent health and safety measures and 55% of respondents made improvements with technology, to be able to handle situations like this in the future. 

a decrease in recruitment intention

It must be pointed out that 71% of the respondents were planning to hire new personnel at the beginning of the year. However, now the percentage dropped to 50%. Despite the fact that there is a decrease in recruitment, companies are focusing on training and upskilling their employees. The top priorities for the future are HR tech initiatives and talent retention. When it comes to recruiting, video interviews are becoming a necessary trend.

post Covid-19 Greek salaries 

Same as last year, the highest salaries are found in the financial, technology and accounting sectors. It is worth noting that the crisis has not affected salaries, especially in the services industry. 

Randstad’s Managing Director in Greece, Leigh Ostergard, said: ‘This year’s HR Trends Research edition, is quite different to previous editions due to the challenges caused by Covid-19. The research showed that most companies and HR departments have similar concerns regarding productivity, employment prospects and talent retention. The two main priorities for businesses are operational restructuring and personnel training. Following the global crisis, the need to revise all recruiting and talent retention processes is more evident than ever. In order for companies to adapt to a post Covid world, they need to focus on technology and talent attraction. Being among the leaders in the HR sector, we gave emphasis on analyzing the post Covid-19 era, trying to pay attention to the needs of businesses and employers.’

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