What Sectors Will Boom After the COVID-19 Pandemic Subsides?
As countries have rolled back their COVID-19 pandemic responses, the reintroduction of lockdowns in places such as California, Florida and Leicester shows us that COVID-19 isn’t going to end suddenly, anytime soon, if indeed it ever ends at all.
Even if they develop a vaccine for coronavirus tomorrow, we are going to have to remain wary of it evolving, or perhaps being superseded by another microorganism that threatens global biosecurity.
Living with the threat is something that we are going to have to adapt to. The disruption is permanent and here to stay. The crisis has accelerated the uptake of digital and online services, and the decline of the high street and retail parks.
Many white collar and knowledge-based workers are ‘refugees’ from their offices, permanently displaced to working from home. This has proved that mass home working is viable for major companies. They have also seen the enormous financial advantages of doing away with conventional bricks and mortar offices.
In the main, lunchtime and after work footfall at retail and hospitality is not only down; it may never recover to pre-COVID-19 levels. Some businesses catering for this market may not be viable and this may further hollow out some central business districts.
However, it is not all gloom! Part of learning to adapt and live with COVID-19 is accepting the opportunities it throws up. If your agency is in a boom sector, now is the time to ramp up preparations to exploit the increased demand in the appropriate area which you specialise.
Likewise, even if you don’t currently have a foothold in a booming or likely to boom sector, maybe you can pivot your business to take advantage.
Consider these areas where jobs are being created. You might be able to fill roles where your clients previously didn’t have a need. Or amplify your recruitment market presence to offer these types of staff for the first time:
These are some of the more obvious areas of the economy where demand is already high or where an increase can be anticipated. There are bound to be others that require specialist knowledge to recruit successfully.
If you are anticipating a COVID-19 bounce to your agency business, consider using ETZ to streamline your back-office operations. If you are still manually processing paper timesheets, the increase in efficiency really helps you to maximise your profitability. To see how, simply call us on 0800 311 2266 to book a demo.
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