Yann Zopf, Public Engagement, World Economic Forum: +41792041610; email@example.com
Geneva, Switzerland, 2 April 2020 – As organizations address the longer-term implications of COVID-19, it is imperative to focus on the needs of all stakeholders, from customers to suppliers to shareholders and, specifically, employees. In the current environment, most businesses are having to put in place new measures for their workforces rapidly – often with no previous comparable experiences.
To help guide chief human resource officers and business leaders through this unfolding crisis, the World Economic Forum has launched The Workforce Principles for the COVID-19 Pandemic. Five principles and four management imperatives are a preliminary response to the crisis. Suggested action pathways are provided along with case studies and additional resources in each section. The project was completed in collaboration with Willis Towers Watson.
“This crisis presents an opportunity to take bold actions and show leadership and solidarity,” said Saadia Zahidi, Managing Director, World Economic Forum. “Responsible employers can apply these principles and guidelines to better balance short-term crisis measures against the medium- and long-term objectives.”
These actions can include protecting salaries and benefits or providing learning opportunities to make progress against reskilling and workforce transformation objectives. Such an approach enables organizations to earn the trust of employees and unlock the discretionary effort needed to move the organization forward in turbulent times.
Five Guiding Principles:
Four Management Imperatives:
A company’s commitment to its guiding principles is often most tested and most critical when it comes to decisions about labour cost and risk management. Companies must recognize often competing demands and look for innovative solutions. Such an approach enables organizations to earn the trust of employees and unlock the discretionary effort needed to move the organization forward in turbulent times.
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