Grim Milestone’s Silver Lining Is Corporate Benchmark

No comments

On March 11, 2020, the World Health Organization officially declared COVID-19 a pandemic. It’s hard to fathom that the world is now over a year into this once-in-a-lifetime global disaster, but the calendar doesn’t lie. This is a grim milestone, to say the least, with well over 100 million confirmed cases and over 2.5 million deaths worldwide. At the same time, the United States is marking more than a year of various levels of social, educational, and workplace changes. Millions of Americans have been working remotely for the first time in their lives for over a year now, and companies across the country have had to make tremendous adjustments to maintain business as usual.

1-Year Holistic Benchmark

Throughout the past year, businesses have been trying to track changes in productivity, overhead costs, and other measures related to the major changes that were made to cope with the pandemic. While most have a pretty good idea by now of how they’ve fared, the 1-year anniversary of the start of the pandemic provides a good, holistic benchmark for reevaluating and confirming those findings.

For one, it takes time for companies, their employees, and their business partners to adjust to new modes of doing business. How they were coping in April 2020 isn’t necessarily how they were coping in February 2021. Additionally, the ability to track these changes across an entire year helps control for seasonal variations that might impact earlier evaluations based on a partial year….

Source: HR Daily Advisor

TRG Guide

Sponsored By