Everyone can’t wait to say goodbye to COVID-19. The crisis made consumers change their habits, choosing to focus on their safety and convenience. In turn, this forced businesses into survival mode, adopting practices they hadn’t tried before. With all the adjustments they had to make, it only shows just how much the business landscape has changed since 2020.
The crisis revolutionized the way different brands operate. We have seen remarkable innovations made available to the public to ensure business continuity. We can only expect much of these business changes as the next new normal in the business world.
Our new ways of living meant businesses had to continuously improve their process to continue catering to consumer needs. Having a better understanding of the current business trends will make it easier for entrepreneurs to rethink their strategies and reconsider their priorities. Here are pandemic business trends that are likely to drive businesses even after the crisis.
Data Literacy as a Critical Business Strategy
Even before the crisis, many businesses already used data collected to understand their customers. They use these to learn more about consumer needs and understand how to get ahead of their competitors. With data literacy, businesses can make better-informed decisions.
Brands use solutions like business intelligence consultation services to collect, analyze, and efficiently understand data. This, in turn, gives us easy access to pertinent information that we can use to outsmart competitors. Leveraging such information helps businesses improve areas that require improvement.
Cybersecurity as a Business Priority
Taking your brand online puts it at a different level of security risk. You are sharing crucial business data in the online world. Failure to secure your business data can end up in costly consequences for your brand.
When the pandemic erupted, even more businesses increased their online efforts. They do this to ensure business continuity, increase their chances of making revenue, and keep up with their online competitors. But then, this also leads to an increase in cyberattacks involving small businesses and large corporations.
This increased cases of businesses falling victim to cybercriminals made many brands invest in increased cybersecurity measures. They no longer treat cybersecurity as an option. They know the devastating effects cybercrime can do on their business, which explains their enthusiasm to hire the pros to boost their brand’s cybersecurity.
Remote as the Ideal Workplace
The crisis changed the priority of many. For businesses, they chose to adopt a remote work setup to ensure the safety of their employees. By doing so, they can also ensure the continuity and productivity of their operations.
Not everyone is cut out for remote work. Before, many brands from numerous industries stayed away from associating their business with remote work. But when the pandemic came, more companies turned to this option to tap on the right talents.
According to a 2020 study, more than half of adults surveyed wish to work remotely post-pandemic. They believe that they will be happier working remotely than in an office setting. This is because they perceived leisure, transportation, and work changed in the middle of the crisis.
The change of work setup also leads businesses to consider urban settings as their next site target. As more millennials choose to work in suburban areas where they can work remotely with ease, companies saw this as an opportunity to entice the best talents into working for their brand.
Reform for Business Health
The crisis opened many companies towards the need for better health opportunities for their employees. Many brands used to take their employee’s health for granted, especially before the crisis. Thanks to the pandemic, they learned the hard way that employee health and wellness matter.
Now, businesses also prioritize employee health by implementing health and safety measures. They care if staff is absent and if some employees are mentally engaged in doing their jobs. They know that they can’t afford to lose more of their talents, which made them prioritize health reforms in their own business.
For one, many embraced remote work to keep their best talents. They are investing in the latest technology to improve how they run their business and manage their staff. More companies now care about the mental well-being of their team, which used to be a practice uncommon before the crisis.
This list shows just how much the business landscape changed over one year. The new normal brought about numerous challenges, which left businesses with no choice but to keep up. We can only expect more company changes to dominate the landscape in the post-pandemic world.