7 Things to Consider in a Post-COVID-19 World

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What is the world going to look like in the next few years? Can there be a return to the pre-pandemic ‘normal’ everyone is used to? The answers to these and other questions are going to become obvious in the months and years ahead.

Now is the time for your business to move on from the economic downturn caused by the COVID-19 pandemic and Russia's invasion of Ukraine. Here are seven important areas to consider:

1. The need for large office space. One outcome of ‘lockdown’ or ‘shelter in place’ orders across the world is companies using existing technologies to remain productive such as GoToMeeting™, WebEx™ and Zoom, among others for live interaction and project sharing. As the various restrictions ease, is there really a need for the expense of large office space? Or can most, if not all, work be completed remotely?
2. Reduced travel for business meetings. Due to social distancing and other rules airlines need to impose to keep crews and passengers safe, fewer flights to fewer destinations are going to be available for business travel. Cost savings for travel and lodging can be passed through to other areas of the business for improved profitability. Is there really a need for extensive business travel with meetings available over the Internet for person to person and business to business communication anywhere on the planet?
3. Increased work productivity. Another product of lockdowns and other restrictions on movement, is reduced commuting time. If an average commute in urban areas like London, Los Angeles, Paris or New York is an hour in both directions each workday, eliminating commuting can add at least ten additional productive hours each week per employee. Is there really a need for all employees to be in a central office each and every workday?
4. Reduced employee absenteeism. With less commuting and less spreading of contagious diseases in the workplace, employee absenteeism and sick time are going to be reduced significantly. Do you have employees who show up in the workplace while sick and then spread whatever they have to other employees?
5. Supply line and production disruptions. Due to globalisation, many assembly and manufacturing businesses rely on components and parts from all over the world. Disruptions to the supply chain will be the most difficult challenge to overcome as new suppliers are sought to replace those no longer in business. If there is a shortage of components or parts to finish assembling a product, production ceases until the items are once again available from suppliers. Do you have three or more verified sources for components and parts to maintain lean systems and reduce production down-time?
6. ‘Re-shoring’ components and parts. As component and parts suppliers are unable to meet demand, or have become victims of the economic downturn themselves, more businesses are going to ‘re-shore’ the sourcing of many components and parts to national or local suppliers due to simplified logistics. Does it make good business sense to have one or two suppliers on the other side of the world shipping items to arrive ‘just in time’ for you to avoid manufacturing disruptions?
7. Increased Business to Business (B2) sales using technology. Just as retailers are seeing more consumer sales move from High Streets and shopping malls to online websites offering quick delivery at no charge, an increasing volume of B2B sales are going to follow along. Due to reduced travel and ‘face’ meetings between buyers and sellers, much of what businesses are going to buy can be completed swiftly and securely over the Internet. Is your website ready to handle B2B customers with ease of navigation and accurate descriptions of all your products and services?