10 Ways “The New Normal” is Improving Businesses

The coronavirus pandemic is one of the biggest challenges that both humanity and businesses have faced to date.

Despite the tragedies that we are experiencing, there are positives that companies are seeing come to light as a result of the Coronavirus Pandemic.

Coronavirus has served as a catalyst for progress. In response to this pandemic, companies are already making positive shifts that will create longstanding benefits for our respective businesses and our economy.

Here are 10 ways businesses are improving as a result of Coronavirus:

1. Importance

For many of us our work is recognized as an essential service. This has led to greater appreciation for grocery workers, delivery drivers, manufacturers, bankers and accountants. Many businesses have realized that they are truly essential in society.

2. Social Connectivity

Although more physically distant, we are having face-to-face dialogue with our teammates, customers, and partners virtually. Team meetings and virtual happy hours through video conferencing platforms such as Zoom have built stronger connections.

3. Reduced Carbon Footprint

People are now consuming less gas, oil, and electricity. This shift is helping us to build a more sustainable environment.

4. Efficiency

With the widespread adoption of video conferencing tools such as Zoom, there is less need to physically go into an office. Companies are functioning with smaller office spaces and less travel.

5. Disaster-Readiness

Many companies have needed to adapt to remote working environments that have forced them to build a more resilient infrastructure to adapt to a crisis.

6. Accessible Talent

For the past decade, businesses have cited that their #1 challenge was hiring and retaining good employees. There is now in an influx of talented professionals in our job market.

7. Scenario Plans

Companies are scrutinizing over how they are investing capital. They now have a stronger understanding of which investments are mission critical versus discretionary. Discerning between investments that are mission critical, important, and “nice to have’s” brings better perspective to our business and how we may need to address decision making during a crisis.

8. Thought Leadership

There is an increased demand for thought leadership as companies need to adapt to our “New Normal”. This represents an opportunity for organizations to build a larger followership.

9. Reinvention

Companies are recognizing potential areas of growth and ways to redeploy resources to adapt to potential challenges. Businesses are redefining how they do business.

10. Legacy

People remember how businesses respond during a time of crisis. We are in the middle of an opportunity to create stories of generosity, teamwork, and grit of our respective businesses. People will remember how us businesses have stepped up to help serve “the greater good”.

The Coronavirus is part of our current state. Businesses are learning, adjusting and creating as a result of this crisis. On the other side of this pandemic, we will find businesses that are more innovative and resilient than ever before.

Our COVID-19 resource page is always updated with the latest information.