COVID-19 as an immediate cause of economic pressures is likely to be time limited. It is therefore important that adequate continuity planning is in place which allows businesses to recover quickly and effectively when demand recovers. Jobs, and therefore job protection, are a crucial part of this ability to recover. Skills and labour are valuable company resources, and retention of these skills can allow businesses to maintain a competitive edge beyond the crisis, avoiding potentially costly hiring and re-training costs in the future. This is especially relevant if there is likely to be competition for skills and talent in certain sectors once the COVID-19 crisis is over. Broader consideration might be given to the macro-economic benefits of job protection, particularly the linkage between income, ongoing consumption, and the overall functioning of the economy. Clearly demonstrating commitment to the workforce has significant additional benefits including maintaining the goodwill of workers, customers, and the broader community.

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Evaluation Report: Cyprus
Guidance

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GuidancePublications

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GuidancePublications

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TAGS: Africa
Principles for responsible contracts. Integrating the management of human rights risks into state-investor contract negotiations. Guidance for Negotiators
Guidance

This publication identifies ten key principles to help integrate the management of human rights risks into contract negotiations on investment projects between host State entities and foreign business investors. This publication has been developed...Read More

TAGS: Global