4 Ways COVID-19 Has Forever Altered Business as Usual

by: Katie Sloane on May, 01, 2020 | 0 Comments
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The current health crisis has shattered workforce norms and upended our daily routines across the globe. Although individual challenges spurred from the coronavirus pandemic vary, a few consistent trends indicate which shifts may endure after the crisis and shape the future of business practices.

1. Adoption of Cloud Services Will Proliferate

The COVID-19 pandemic has amplified the growing demands for robust and flexible IT infrastructure that can effectually operate during unpredictable change events and in times of crisis. Decision-makers from hedge funds and the alternative investment industry have turned to cloud service providers in the wake of the new work era, exhibiting a unanimous nod to the advantages of embracing advanced technology and cloud models. As more people recognize that legacy technology, operational agility, cyber-attacks and compliance are inextricably linked, cloud computing will assume a place alongside the defining characteristics of modern post-coronavirus business operations.

2. More Virtual Meetings

Despite practicing social distancing around the world, meetings and collaboration among colleagues and departments have increased steadfastly. Compelling cloud-based platforms, such as Microsoft Teams, have enabled company-wide conferences and empowered remote colleagues to work together while apart. In March, Microsoft reported that the communication platform's number of daily users has more than doubled since last November, climbing to 44 million users.

Beyond video conferencing, group chats and file-sharing capabilities, firms have leveraged Teams and its counterparts for digital happy hours, town halls, live concerts and game nights. During the ongoing COVID-19 crisis, these unique virtual gatherings have been considered a silver lining and essential to preserving positive morale in uncertain times.

3. Regular Communication Will Persist 

Communication with clients and among managers, direct reports and coworkers has increased in frequency, resulting in unified teams and improved transparency. The evolved notion that the virtual door is always open has never been more authentic and has fortified stronger relationships amongst professionals.  

Post-coronavirus, the surge in communication and team check-ins will endure, availing businesses and individuals. We can also anticipate product improvements geared toward optimizing the user experience and elevated awareness of such developments among users who have grown an affinity to collaboration tools. 

Many of these changes would have transpired regardless, but COVID-19 will considerably hasten them.

4. Future-Proofing Business Procedures

The pandemic of 2019-2020 will forever change how businesses prepare for future contingencies. The coronavirus outbreak was a wake-up call for numerous companies for multiple reasons, particularly in business continuity planning and disaster recovery preparedness. As several firms had to shift to remote work environments practically overnight, access to the necessary resources, expertise and technology was instrumental in their success and sustaining optimal operations without experiencing disruptions. 

But remote work ideals and telecommuting were alien concepts to some firms, which led to makeshift solutions that hindered business operations and increased risk exposure and lost opportunities. Moreover, companies that applied temporary Band-Aids to the circumstances are missing out on a significant opportunity. 

Stakeholders must reflect and address the inescapable question – is there a more efficient, secure way to work? Those organizations that miss the mark may not see to survive another major disaster in the future. 

COVID-19 remote workforce
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