HENEGAR SLP 2

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MGT499 SLP 1 1 OPM300 SLP 2 Tyler A. Henegar Trident University International OPM300 Introduction to Operations Management Due Date: 5/21/23

MGT499 SLP 1 2 Introduction The COVID-19 pandemic has had a profound impact on the global job market, reshaping hiring trends across various industries. While some sectors experienced significant setbacks and layoffs, others witnessed an unprecedented surge in demand and employment opportunities. Industries such as healthcare, e-commerce, technology, and remote work solutions saw a rapid increase in hiring, driven by the need for essential services and digital transformation. Furthermore, the pandemic accelerated the adoption of remote work, prompting companies to prioritize skills such as adaptability, digital literacy, and remote collaboration when seeking new talent. 2020 Labor Force Trends The pandemic hit a lot of companies hard, however, e-commerce and healthcare skyrocketed. One of the biggest reasons is the lockdown. When people were forced to stay at home, this caused a massive surge of people ordering things online, from companies such as Amazon. This was a huge win. Another industry that saw major boosts in the labor force was healthcare. When COVID- 19 kicked off, there were massive spikes in hospitalizations and other healthcare needs. Hospital vacancies for respiratory therapists and nurses surged by 30%. This caused a lot of hospitals to hire temporary travel nurses to fill voids in states with higher case rates. Ultimately the healthcare labor force boomed and has slowly trickled back down in recent days, as things return to normal (Ready, 2023). The insurance industry was an industry that drew the short straw with COVID-19. Workers and employees were forced to reevaluate and revise their workplace expectations. While

MGT499 SLP 1 3 not the worst career field to be in, such as airliners and casinos, there was still a fair amount of adapting in this industry. The insurance workforce made a shift, like most, to teleworking and in- person hybrid-like schedules (Admin, 2022). Pandemic Hiring Industry Trends The nursing industry has always been a difficult career field to predict hiring trends. COVID-19 continued to put a spin on the already existing challenge. Demands for nurses during the pandemic soared and the supply was limited. A lot of the nursing hires were travel nurses and were thought of to be temporary until the pandemic subsided. During the pandemic, a large staff of nurses was needed due to them being in close contact with the patients and becoming infected and quarantined for weeks at a time. A lot of permanent party nurses are still seeing the much better benefits travel nurses receive and are switching to the travel sector, leaving a huge void to fill for local hiring (Recruitics, n.d.). The insurance industry did not see a large influx of hiring. This was mainly because most employees were able to maintain their positions and conduct their work from home by teleworking. This showed a lot of higher leadership in the industry that teleworking might be accepted as the new norm in society. This industry had minimal impact on the workforce other than schedule changes. The nursing career field again had virtually no layoffs. The industry was in desperate need of nurses to wade through the unknown waters of what lay ahead in the pandemic. In insurance companies, the main trend was a massive schedule shift. There were smaller companies such as recreational activity insurance such as campers, boats, and RVs that took a

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MGT499 SLP 1 4 little bit of the hit during initial lockdowns, but quickly recovered as those are all isolated activities people could continue to do. One growing trend for the upcoming years in the nursing career field is going to be online nursing. A lot of the triage that a nurse typically conducts can be done over the phone while explaining symptoms. Typically, online nursing will further determine if one needs to come in and be seen by an actual doctor based on the symptoms communicated over the phone. Another trend coming is nurses can expect to be making more money. Once the industry could see through the big black eye that was COVID-19, civilization realized how important that career field is and needed a way to draw more people into becoming nurses to boost the workforce (10 Nursing Trends to Watch in 2023, 2023). In 2023, the insurance industry is experiencing a significant shift in hiring trends, with a growing focus on digital skills and technological expertise. Insurers are increasingly seeking professionals who can navigate new technologies such as artificial intelligence, machine learning, and data analytics to improve operational efficiency and enhance the customer experience. Teleworking has become more prevalent in the insurance industry hiring landscape. The COVID-19 pandemic has accelerated the adoption of remote work practices, and many insurers are embracing this trend as they realize the benefits of a geographically diverse talent pool and improved work-life balance for employees. All of this derives from the pandemic proving to employers that teleworking is a much healthier beneficial lifestyle (Why Insurers Should Embrace Remote Work, 2021).

MGT499 SLP 1 5 Conclusion In conclusion, the pandemic has significantly impacted hiring trends in various industries. Many sectors, such as healthcare, pharmaceuticals, and technology, experienced a surge in demand for skilled professionals. Remote work and digital transformation became prevalent, leading to an increased need for professionals with virtual collaboration and digital skills. On the other hand, industries heavily affected by restrictions and reduced consumer demand, such as hospitality and tourism, faced challenges in hiring and had to adapt their recruitment strategies. As the world emerges from the pandemic, hiring trends are expected to continue evolving, with a greater emphasis on flexibility, remote work capabilities, and the integration of technology in various sectors.

MGT499 SLP 1 6 References: Admin. (2022, May 4). How COVID-19 has Changed the Insurance Industry: Property and Casualty. Trout CPA. https://www.troutcpa.com/blog/how-covid-19-has-changed-the- insurance-industry-property-and-casualty Ready, T. (2023, March 6). Long COVID Takes Toll on Already Stretched Health Care Workforce. WebMD. https://www.webmd.com/covid/news/20230306/long-covid-takes- toll-on-health-care-system#:~:text=At%20hospitals%2C%20vacancies%20for %20nurses,nurses%2C%20according%20to%20the%20AHA.3 Recruitics. (n.d.). Coronavirus and Nurse Recruiting Trends. https://info.recruitics.com/coronavirus-nurse-recruiting-trends Why insurers should embrace remote work. (2021, April 21). McKinsey & Company. https://www.mckinsey.com/industries/financial-services/our-insights/insurance-blog/why- insurers-should-embrace-remote-work 10 Nursing Trends to Watch in 2023. (2023, May 15). Marymount University Online. https://online.marymount.edu/blog/10-nursing-trends-2023

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