Retraining

So, the main worry now is how to create jobs for the people to ensure that they have stable income so that they still retain their spending power even though the stimulus package is removed.




The government has basically put forward 3 main industries to help absorb this plethora of unemployed people on the streets and they are namely healthcare, education and hospitality.

A lot more sectors and industries are demanding high skill workers now. This could jolly well be a chance to revolutionize the entire workforce. They can all be retrained simultaneously since they are unemployed and they can start to serve away when they finished their training sessions. At that point, their skills will be sharpened and in fact is of a way higher level than ever before.

After a major wake up call for the majority, that they are not exactly half as good as they thought they were. And those being fired is the best form of evidence for that fact; they will definitely activate their drive to learn, one of the drives in the 4-Drive Theory. They start to acquire knowledge rapidly to satisfy their hunger for jobs and increments.

If this spirit can successfully be drawn out, the economy can make use of this potential to propel it faster than the Okun's law can ever imagine.

Such a reform is definitely euchred in any part of the world but almost impossible to achieve before this crisis occurred mainly because of the following reasons:



1. Retraining is usually done on a small skill and only available to the top-notch employees to minimise any disruptions to the operations of the company.



2. People have the satisfizing attitude as compared to the maximizing attitude and it is not easy at all to change that paradigm.



3. Lack of will to be active, rather be indolent throughout their work life.



To sum it up, companies usually cannot afford to conduct such as massive-scaled retraining program because of a shortage of manpower which results in a languished workforce at the end of the day. Their skills remain at the same level as before most of the times and people are just too lazy to improvise. However, this financial crisis could possibly be the best chance in history to turn the tables around. The harder you fall, the higher you will climb so to speak. With this extremely painful fall, people wake up and start to climb even more rigorously and consistently and this could be a once-in-a-lifetime chance for the United States to get back into the running against China, India and Russia once again.

Credits -cbcr3, -uiowa, -success