The Paycheck Protection Program (PPP) application period was set to close on March 31, but Congress recently approved a 60-day extension to May 31. The measure will now be sent to President Joe Biden’s desk for signature. The PPP is designed to help struggling businesses with fewer than 500 employees keep workers employed during the COVID-19 crisis by providing loans that are forgivable if certain criteria are met. The program “is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead,” according to the U.S. Treasury Department.
The COVID-19 pandemic produced what might be the largest workforce disruption since the Great Depression; its effects on the global economy are devastating. Unemployment in some areas hit 30 percent, which turns the economic crisis into a human resources crisis. Our guest, Christy Pambianchi, Executive Vice President and Chief Human Resources Officer of Verizon, explains how her company has transformed recruitment, hiring, and retention, given the chaotic scenario. She describes the challenges of maintaining the company’s values and culture in a virtual environment.
Performance-based programmatic job advertising maximizes return on investment and improves recruitment marketing and talent acquisition metrics. So why aren’t more companies using it? Terry Baker, CEO of New York City-based PandoLogic, one of the pioneers of programmatic technology, defines it as “an automated process that intelligently decides when and where your jobs will display and how much you need to bid to target the right sites, audiences and demographics to yield the right volume and quality of hires.”
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