Top 6 business lessons learned from Covid-19 during 2020
The unprecedented coronavirus pandemic has caused a permanent shift in mindset, direction, and behavior for organisations and individuals.
According to a report released by Freeform Dynamics there are 6 key business lessons to be learned from the coronavirus pandemic.
The sudden disruption of COVID-19 has caused businesses to make critical decisions they’ve never dealt with before, leading to irreversible changes.
The research took a look at the impact COVID-19 had on enterprise, focusing on changes in working behaviour.
One of the most obvious effects was the rapid switch to remote work. The report found that businesses had on average 4.7 times more people working from home compared to before the pandemic.
This presented significant challenges, with businesses having to swiftly adapt and upgrade their IT systems to cope with the new working arrangements.
Here are the 6 key lessons presented by the report to help your business come out stronger post-Covid.
Top 6 lessons learnt from Covid-19
1. The importance of business agility
The pandemic has provided a big lesson in agility for companies, as they were forced to be agile in order to respond to the rapidly changing business climate.
Many companies learnt how important it was to be able to quickly adapt to change when faced with uncertainty.
For others, the shift exposed errors and inefficiencies that helped them realise exactly which areas they needed to work on.
2. The value of utilising modern technology options
With more employees working from home than ever, making use of all the technology options available is essential.
Two-thirds of respondents said they agreed or strongly agreed that the pandemic accelerated their adoption of cloud-based communications, collaboration, and productivity tools.
More than half of respondents also said they started using technology that was already available to them but was previously rejected or ignored.
This goes to show that many organisations were forced to recognise all the technology that they had been previously underutilising.
In summary, the responses show that employees now accept that online collaboration tools are now the new norm, especially video conferencing.
3. The benefit of flexibility on workforce productivity
With the majority of workforces working from home, many employees discovered that they were actually more productive at home without the distractions of the office.
Respondents said that they noticed positive practices emerge as a result of the shift to working from home and expect to continue doing so even after they return to the office.
Some of the practices here to stay include greater trust between workers and businesses (53%) and managers allowing for more flexible working hours (49%).
4. The essential nature of social interaction
While digital collaboration has become the new norm at work and will remain so even after the pandemic, the report found that there was still a need for social interaction.
Not surprisingly 64% of respondents missed informal “water cooler” interactions.
Some of the ways that businesses tried to combat this include: Hosting social video conference calls, social chat channels and interactive competitions.
5. The future of health and wellbeing
Naturally Coronavirus has had a significant impact on workers’ health and wellbeing.
A staggering 76% of respondents said they found it challenging to maintain a work life balance.
The positive side of this is that businesses were forced to put employee well being front and centre.
According to the report, almost half of employees believe that due to this, employee wellbeing will improve in the long term.
6. The value in unlocking remote talent opportunities
Due to the shift to remote working, companies have naturally shifted to remote recruitment as well and are reaping the benefits. Opening up recruitment to international and more diverse candidates means that companies can access the best talent available.
In summary, these are the lessons that your business needs to take on board to become resilient and agile against future disruptions.
If you need help to futureproof your IT infrastructure against disruption contact EIT Solutions, our IT division. They’ll find the right solution for your business needs.