The end of furlough and its effects on levels of employment
The coronavirus job retention scheme has supported 11 million jobs amid the pandemic since March 2020. With the scheme finished September 30th 2021 how can businesses prepare for post-furlough life?
a) Business planning. Whilst some businesses may be fortunate enough to bounce back quickly, for others demand may be much lower than pre-pandemic levels
and they will have to let some staff go. Look at how demand affects revenue and how revenue impacts budget and what this means for the workforce.
b) Assess new business opportunities. Consider redeploying furloughed staff to work on other viable long-term revenue sources such as online revenue streams.
c) Staff motivation. Invest in gradually reintegrating furloughed staff back into the company culture. Consider inviting them to social events where they can mix with the rest of the team Safely whilst getting them involved in the day-to-day running of the business.