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Hiring Freezes Most Common Cost-Containment Strategy During COVID-19

April 6, 2020

Via: HR Hero
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What a difference a few months make! At the beginning of 2020, all we could talk about was the candidate-driven market and how jobseekers held the upper hand in deciding who they worked for. Now, due to the coronavirus (COVID-19) outbreak, it seems employers are back in control, but they aren’t hiring.

According to new research by Willis Towers Watson—a global advisory, broking, and solutions firm—North American employers are contemplating a series of cost-containment strategies, which include hiring freezes, wage freezes, and/or delayed raises, in order to mitigate the growing concern COVID-19 has placed on businesses. Additionally, some employers are paying premiums to mission-critical employees and subsidies to help employees manage costs related to working remotely.

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