Post Covid Business Predictions - Vol 3
< Go back to Vol 2. Covid Business Predictions
#23 Flexible Employment
The saying ‘when the going gets tough, the tough get going’ may not be so relevant now with employees having sniffed an opportunity to work from home, 4-day week opportunities, and flexi employment arrangements. Employers will want ‘their pound of flesh’ to get their businesses restarted, yet many employees will be holding out for the best terms they can get. This standoff will see like-minded employers associating with each other and uniting into entities where all workers are owners, getting stuck in and sharing the results. The companies who do take on the workforce requiring flexibility for commitment will need to navigate their way through how much ‘give and take’ will work for business continuity. As for the rules which protect the rights of the employee, employers will likely find the threshold too high and end up making harsh decisions with no regard for the employment law, instead factoring in the penalty for breach in process as a business cost.
#24 Residential and Retail Mix
Retail precincts for Ma and Pa stores become residential mixed use areas. As online retailing gains momentum, austerity measures sink in and spending tightens, many small footprint shops will close. Facing an uncertain future, landlords and councils alike will need to decide what to do to rejuvenate these areas. The simple solution is to convert to residential space. This will create employment for the renovators and housing for those in need, and by utilising existing infrastructure, turnkey homes can be created in quick succession.
#25 Online Sales
Online sales are being exalted as the way forward, and they are, to a point. Many will make the move, and it is important to do so. Bricks and mortar will become a thing of the past for many Ma and Pa stores. Many will trim back or remove their salespeople, believing that online is the replacement, and if not believing that, then at least believing that they can’t afford salespeople as the market contracts. So, one of the oldest professions in the world (guessing that you know the other one) will start to lose traction. What will be realised too late – and by this I am guessing some two years, is that salespeople are needed even in the online world, as people will not always buy when not supported by a salesperson. Sure, chatbots and even real Customer Service Representatives will assist, but CSRs are not salespeople. The art of sales will die unless someone is around to modernise and train those who realise the oldest profession still has merit. I’m ready for the challenge.
#26 Immunity
Whilst Covid is the current killer, more than 80 million immunisations have not occurred due to lockdowns around the world. Couple this with ‘stay at home when you feel sick’ orders and sanitised environments, herd immunity for some diseases will lose traction. Not a health expert, so will not argue the case, but the prediction is that pandemics could become more the norm and be of varieties we have seen before but had under control.
#27 New Normal in Media
When watching a movie created in post-Covid times, it’s hard to imagine right now how close people got to each other, how they shared fluids (their own), and generally lingered in ways we are being taught not to. To show that we are up with the play, our business advertising, social media, induction videos and profiles will need to reflect the new world, one with space/social distance, appropriate door opening contraptions, covered food and the like. Watch how the online video content changes to mirror the new social norms. Watch out for those who do not update their content and how they get left behind!
#28 Plant and Machinery
Plant and machinery used for shovel-ready projects will be in demand, but the uncertainty of the market will have some purchasers gun-shy. Enter the blossoming world of short- and long-term rental of plant and machinery.
