4 Business Transformations Encouraged By The Pandemic
It’s odd to find something positive about the pandemic. But in reality, the global health crisis has forced countless businesses to question their processes and figure out ways of adapting to the sudden change in the situation. As a result, a wave of transformation has driven significant improvements that many employees had been waiting for.
Building upon the adaptability and transformation businesses have experienced during the global health crisis, it’s worth noting that this period has also opened doors to new possibilities for growth. As companies have demonstrated their ability to pivot and evolve in response to changing circumstances, many have naturally turned their attention to global expansion. This presents a unique opportunity to tap into international markets, diversify revenue streams, and strengthen the resilience of your organization.
Moreover, the global talent pool is more accessible than ever before. The pandemic has accelerated the acceptance of remote work and virtual collaboration, making it easier to recruit and integrate international talent into your workforce. This not only enhances your company’s diversity and innovation but also brings in fresh perspectives and expertise from around the world. One crucial aspect to consider when venturing into international markets is ensuring compliance and smooth workforce management. In this regard, partnering with an international eor can streamline the process of hiring and managing international talent while ensuring legal compliance in different regions. Some organizations can also choose to work with global professional employer organizations (PEOs) who can help with hiring, payroll, benefits administration, and compliance in multiple countries.
While business expansion is one of the positive outcomes of the pandemic, there are other advantages that have emerged in the wake of the pandemic:
Flexible time management
In a remote working environment, companies have come to realize that employees need to accommodate a difficult and stressful situation. Many struggle to stick to the same work routine when they are staying at home. Pandemic fatigue makes it hard for many to retain their 9 to 5 routine. Other employees need to juggle childcare and work at home, which means they need to make time for their children during the day. In order to transition safely to remote work, companies have had to accommodate flexibility for their teams. The process allows employees to schedule their work as they see fit, making time for essential errands during the day. In the long term, we can expect flexible work times to remain in the post-pandemic business environment.
Travel is NOT indispensable
Companies tend to prefer face-to-face meetings over conference calls or emails. Yet, the pandemic is dramatically changing our approach to business appointments. According to the Passenger Transportation industry statistics, 2020 is showing a change in mobility and travel for both short- and long-distance trips. Commuting has reduced significantly. But cross-state and international travel has also been impacted by the pandemic. As a result, the professional strategy for travel is changing. Business travels are likely to be almost entirely replaced by video calls, emails, and phone calls. For employees, it’s not only a time-saving strategy but almost a more convenient situation in which someone can handle multiple meetings a day without leaving their desk.
Nowadays, it’s impossible for stay-at)home employees to keep their children away from the screen. The pandemic has made it normal to view someone’s interior and their family. As such, parents are likely to handle babies, toddlers, or older children who need assistance. Family scenes play on the screen during meetings, whether it’s a mother feeding her baby with a bottle or a father holding a curious toddler on his lap. As businesses have come to accept children in a work environment, many will need to consider childcare additions to the employee benefits. Companies that want to go back to the office after the pandemic can provide childcare services on-site. Others can also consider discount services for stay-at-home parents.
No more vertical hierarchy
The digital space is removing the pyramid-shaped hierarchy. An employee who has a query for a manager can directly reach out to them. Rather than asking their team leader to pass on the query, they have access to the whole company on the collaborative platform. You can drop a chat line to the CEO while inviting the head of the department to a live video chat. In the long term, we can expect most businesses to shift toward a horizontal hierarchy model, where the flow of information is not filtered by managerial positions.
While it would be foolish to pretend that pandemic is a good thing, it has forced businesses to shift their priorities. As a result, work processes are becoming people-focused, revolving around greater time management and transparency.