How business will need to adapt to survive COVID-19

Things will no longer be the same in the world of work after this pandemic in which we are immersed.  And it is in the hands of organizations to think about what the future of business will be like after COVID-19 in order to survive.

The change that businesses need to make is radical if they want to successfully navigate this pandemic. Not only the way of working has already changed – the home office will be the new normal – but also the clients and the environment. Any forecast that companies have made before the arrival of SARS- CoV- 2 is practically obsolete. And at this moment, the recommendation of the experts points to the need to “reimagine” your business model. In case you need inspiration, here’s a list of business models with examples that can help you choose what would work best for your business. This means that organizations are left to reflect and transform the way in which they generate their profits. Reassessing projects, finances and custom reporting will be vital to ensure that things are moving forwards successfully. You should opt for Whatagraph custom reports to get a deeper insight.

New ways of consuming

Another aspect that organizations need to take into account is their customers.

These are no longer the same and the most important thing is that they will never be the same as they were before the crisis began. Those who shopped online have already made it an even more common practice. Others who were afraid to do so were driven to take it off. In doing so, since they realized that nothing was happening and incorporated it into their new consumption habits. The virus changed the way we shop, work, socialize, and travel in the future. So in this sense, companies need to prepare to face this new client, especially those that with this pandemic are seeing their way of operating affected, for example, restaurants or tourism companies.

Work at home

These months, according to an analysis carried out by the Mckinsey consultancy, have been an “experiment” for companies, during which they have been able to discover that they can operate with fewer resources and with their workers working from home. Businesses will have to organize their employees. In other words, deciding who stays at home, who goes to the office, who will have a mixed scheme, in addition to planning how this scheme is going to be implemented permanently. What it is is that technology, if before it already played an important role, today it will be essential on this path.

“In the office of the future, technology will play a central role. This by allowing employees to return to office buildings and work safely before a vaccine is widely available, ” The McKinsey study maintains.

New communication

The pandemic has forced companies to behave differently and take a leap of faith leveraged in technology. Other companies, who had taken remote management seriously, with key productivity indicators, see how that practice has allowed them to navigate with much less uncertainty. Without a doubt, communication with the internal public is key in this situation. 60% of companies have significantly increased their internal communication program: with new communication channels, expanding the range of official spokespersons for a better reach and a greater number of shipments. However, quality prevails over quantity, and the best performing companies are those that establish a clear plan prior to action and align messages from CEO to team leaders – making business an all round success again. It isn’t going to be easy but it is achievable.

The importance of a digital roadmap

A lesson that this pandemic leaves us is that not having a digital sales channel is equivalent to not having an email, or as obsolete as pretending to receive communications by fax. The online channel, that will shape SMEs and an imminent survival mechanism too. After this pandemic, companies will be thinking about technology as a lever to make the distribution of their products and services efficient. So many people buy online now anyway and it is becoming more the norm to click your buttons and have your products there within twenty four hours. Having teams that can communicate remotely will no longer be a matter for millennials to be part of the contingency plan. Probably no employee will accept a job offer that does not include a remote and flexible work component and this will mean that more people can focus on other hobbies and aspects; something that many workers will welcome.

Likewise, most companies will have access to information in the cloud, have all the elements available online to make decisions and make sure customers have the tools to move forward.