How COVID-19 Will Impact Businesses in 2021

The pandemic has caused many businesses to undergo major changes in 2020, forcing them to switch to remote workforces or change policies to keep their employees still working safe. If you own a business that’s been severely impacted by the pandemic, you’ve likely adapted in more ways than one. You might not be aware of what changes lie ahead or what to expect as the New Year rolls in. 

Here’s how COVID-19 will impact businesses in 2021, and what you can do to continue to strategize safe, profitable processes going into the New Year.

1. Digital Media Consumption Will Continue Rising

Thanks to everyone being quarantined, digital media consumption is expected to see a boost in 2021. Streaming video services and social media are both expected to see an increase in users as we roll into 2021. Media related industries can expect an uptick in sales; especially if states and counties issue stricter lockdown conditions as they did in early March 2020.

2. Remote Workers Will Remain at Home

It’s likely that throughout 2021, remote workers will continue working from home, especially with cases on the rise again due to the holidays. In order to effectively and efficiently run a business with a remote workforce, the right tech and software is needed for proper communication between management and employees, as well as between employees and customers. That might mean it’s time to optimise your remote workforce by using performance management software that can tell you exactly how your employees are doing (and give you insight into how you can help them improve if need be).

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3. Employers Will Be Expected to Be Social Safety Nets

The pandemic has seen employers taking on more of an extended role in their employees’ lives. Not only have a lot of companies stepped in to offer more emotional support to the employees in crisis, but they’ve also been contributing more to their financial and physical well being. That trend is expected to continue into 2021 as the pandemic rages on. Since no one really knows when things will return back to normal, employers will most likely keep doing their part by providing enhanced sick leave, adjusted hours of operation, financial assistance and child care provisions.

4. Employees Will Take New Jobs Based on How Employers Are Responding to the Pandemic

Prospective employees will be judging companies on more than just pay rates and company perks going into 2021. Since the pandemic has forced such a drastic change in our ways of life, prospective employees are going to be looking for employers to take it a step further and offer benefits that … well, benefit them in the wake of the pandemic. For instance, they’ll look at how companies are treating their employees during the pandemic and the long-term impact it could have on their mental and physical health. For example, they’ll be looking at whether employers have tried to assist employees financially or whether they’re doing what they can to support employees in all aspects of their lives (from paid time off for mental health to financial incentives).

5. Curbside Pickup and Home Deliveries Will Increase

If we happen to go into another lockdown, curbside pickup and home deliveries will increase, as they have begun to already. Companies like Shipt, DoorDash, UberEats, and InstaCart will likely be used much more often than in the past. The convenience of having groceries and fast food delivered to your door makes it easy for people to limit their contact with others. And more and more stores are also offering their own home grocery delivery.

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Preparing for the Year Ahead

Adopting new business processes and changing operations to comply with COVID-19 restrictions has been tough, but preparing ahead of time can give you the head start you need to enter 2021 better equipped to deal with whatever comes your way. No matter what industry you’re in, you can get on track to have a successful year.

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