he likelihood of a global downturn was, only a short time ago, a lively discussion among economists. It’s no longer up for debate — we’re now in the midst of an economic shock. But while executives are dealing with the immediate impact of the crisis, they still need to consider when and how the economy is likely to recover so that their organizations can be ready to rebound.
Companies will move to reassess, reimagine and reinvent their business.
Looking to the post-crisis future, executives will prioritize both changes in capital allocation and measuring returns and capital efficiency more effectively. How effectively capital is allocated either accelerates or hinders business performance and determines whether companies can readjust to a new environment and free up further capital to reinvest in future growth opportunities.
Companies across sectors will continue to face disruptive factors such as industry convergence, geopolitical uncertainty, evolving regulatory regimes and technology-fueled fundamental changes to customer behavior. These factors are forcing businesses to evolve rapidly. Executives are using better data to more holistically understand all these interconnected drivers for change across their own and adjacent markets. This is enabling them to better model future changes and more quickly anticipate the moves they need to make.
Executives are also looking to recycle capital through divestitures and acquisitions based on the results of their strategic and portfolio reviews. The current market is more challenging than it was only two months ago, but it is not yet clear if markets are closed to raising financing for acquisitions. However, given the changing environment, it is better for companies to be constantly assessing their portfolio and divesting to raise capital.Source
Across the U.S., COVID-19 is impacting the way employers conduct business and plan for the future. To assess the early impact of COVID-19 on tech, we broke down recent hiring trends by hub, role and skill in the Q1 and Q2 Tech Job Report.
Hiring comparisons between the first and second quarter of 2019 and 2020.Source
Today, the Department of Homeland Security announced a final rule (PDF) that adjusts fees for certain immigration and naturalization benefit requests to ensure U.S. Citizenship and Immigration Services recovers its costs of services.
Unlike most government agencies, USCIS is fee funded. Fees collected and deposited into the Immigration Examinations Fee Account fund nearly 97% of USCIS’ budget.
“USCIS is required to examine incoming and outgoing expenditures and make adjustments based on that analysis,” said Joseph Edlow, USCIS deputy director for policy. “These overdue adjustments in fees are necessary to efficiently and fairly administer our nation’s lawful immigration system, secure the homeland and protect Americans.” The rule accounts for increased costs to adjudicate immigration benefit requests, detect and deter immigration fraud, and thoroughly vet applicants, petitioners and beneficiaries. The rule also supports payroll, technology and operations to accomplish the USCIS mission. The rule removes certain fee exemptions, includes new nominal fees for asylum applicants, and reduces fee waivers to help recover the costs of adjudication. This final rule also encourages online filing by providing a $10 reduction in the fee for applicants who submit forms online that are electronically available from USCIS. Online filing is the most secure, efficient, cost-effective and convenient way to submit a request with USCIS.Source