i4cp: 35% Say Their Organizations Are Lowering Headcount Projections Due to the Coronavirus Pandemic (i4cp login required)

Productivity

Over a third (35%) of the talent acquisition professionals surveyed this
week by the Institute for Corporate Production (i4cp) said that their
organizations have already decreased headcount projections for 2020. This complements research released yesterday showing that 66% of companies have already taken measures, or are considering measures, to rein in headcount costs if the COVID-19 pandemic continues longer than initially expected.

Among the findings of the survey:

  • Although 17% of survey participants said that
    their companies have not made any headcount adjustments, 44% said that they are
    keeping the option on the table—taking a wait-and-see approach.
  • Compensation considerations are also top of mind
    for recruiters—while 74% of survey respondents said that their companies have
    not made any changes to compensation guidelines for new offers due to the
    COVID-19 pandemic, 21% said that this strategy is currently under review. Some
    indicated that they are now offering premium pay for key hires.
  • Most companies (57%) are proceeding with job
    offers they extended prior to the COVID-19 outbreak, extending start dates or
    converting to remote/virtual start dates and onboarding.

Changes to employer brand messaging in response to the
pandemic have been subtle according to 33% of survey respondents, but 54% said
that their organizations are not revising their messaging. Only 8% said that
they are making major changes to brand messaging in an attempt to attract
talent during the pandemic.

Some survey respondents whose organizations have already
been hit hard said that they have decided to rescind job offers made prior to
the Coronavirus outbreak except in cases of new hires who have needed critical
skills. Most are proceeding with hiring but moving to remote onboarding for
critical roles and pushing out the start dates of others on a case-by-case
basis.

Download
the full survey results
—due to the current global health and productivity crisis
affecting everyone, i4cp is making all related ongoing research publicly
available.
 

We also encourage you to visit i4cp.com/coronavirus for
other employer resources including discussion forums, next practices, useful
resources, and more.

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