Talent Aquisition Leaps Towards Virtualization as Covid-19 Leads to Budget Cuts, Hiring Freezes in Many Industries

The outbreak of Coronavirus presents the world with never-imagined-before scenarios on many fronts beyond health. While many leaders are clear that this is the biggest global crisis since World War II, we also know that period saw science and technology progress at one of the fastest rates in history. In context of organizations COVID-19 presents challenges, and opportunities that come with them, across the spectrum.

What becomes an expectation from business leaders is not just maintaining business continuity and salvaging topline but making sense of this large-scale disruption for a post-pandemic world. Not surprisingly, 94 percent of the Fortune 1000 firms are already reporting significant COVID-19 related supply chain disruptions.

To assess the level of impact on Talent Acquisition and how firms in near term are responding in this aspect, Aon conducted an APAC Pulse Study - "Impact of COVID-19 on Talent Acquisition". We received responses from 315 firm representatives focused in Asia (Middle East, South East Asia and India) as well as Australia.

For more insights on how businesses can respond to the current pandemic, including stakeholder communication, health and benefits impacts and business continuity planning, please see Aon’s COVID-19 Response Site here.

Disclaimer: This document has been provided as an informational resource for Aon clients and business partners. It is intended to provide general guidance on potential exposures, and is not intended to provide medical advice or address medical concerns or specific risk circumstances. Due to the dynamic nature of infectious diseases, Aon cannot be held liable for the guidance provided. We strongly encourage visitors to seek additional safety, medical and epidemiological information from credible sources, such as the Centers for Disease Control and Prevention and the World Health Organization. As regards insurance coverage questions, whether coverage applies or a policy will respond to any risk or circumstance is subject to the specific terms and conditions of the insurance policies and contracts at issue and underwriter determinations.

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