The pandemic has caused many short-term changes in the operations of most small companies. However, some of the alterations that have been made amidst the crisis are likely here to stay even after COVID-19 is long gone. The business landscape has changed dramatically in the last six months and continuing to adapt even when things return to “normal” is a must. Focus on the following areas to ensure that you are keeping up with the world’s new pace and way of doing business.
The pandemic has seen a shift in how people communicate. Virtual meetings for telecommuting staff and clients alike have kept everybody as safe as possible during this period of social distancing. However, even when we are able to return to our usual workplaces, keeping the doors open for online communication will be key. Whether this is maintaining the ability to meet with clients online or continuing to let some of your employees work remotely, adapting to this new business model will keep your staff and customers happy.
Employees have also enjoyed more flexibility in their work schedules during this time. Because of the lack of childcare available, many employers have made “work hours” more fluid and allowed employees to work at unconventional time as long as their work is being completed and their performance is not suffering. Even after returning to the office, continuing to allow this more flexible scheduling is a great way to improve your employee retention and raise the morale among your team members. Remember that even though your place of business is returning to normal, your staff may still be facing challenges if daycares, school, and babysitters are modified or unavailable.
Another way that businesses have adapted to the pandemic is by employing new technologies such as project management software and video conferencing programs in order to maintain operations. Continuing to utilize this tech post-pandemic could prove to be a valuable addition to your company and improve your day-to-day operations.
As Accounting Today has pointed out, there has also been a massive shift in pricing models during the pandemic. This change from charging by the hour to setting flat rates for projects is likely here to stay, as valuing your expertise and services over your actual time investment has proven to be a positive switch for many businesses.
Rather than viewing the pandemic as a derailing experience for our companies, we can focus on all of the innovation and positive changes to our business models as a result of the changing times. Necessity, as they say, is the mother of invention, and the new way of doing business can benefit entrepreneurs, their employees, and their clients and customers for years to come, provided they let their experiences during this time inform their decisions going forward.