The Potential Future Effects of COVID19 on Businesses and Workforces

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When a global health emergency like the outbreak of COVID19 takes place, it often highlights gaps in the infrastructure of the world, and in workplaces. Companies then need to figure out where these gaps are and make the essential changes and improvements to protect their employees in the future. And global pandemics and illnesses often cause a significant strain on the economy. The flu season alone racked up a cost of almost $6bn in healthcare and lost productivity in 2016, while the swine flu outbreak in 2009 caused serious economic losses in the affected countries. And today, the coronavirus outbreak is having a similar effect around the world. Here are some of the main ways that it’s likely to affect the future of the workforce.

More Remote Working

Telecommuting has grown massively over the last decade, with around 91% more workers now working remotely. And given the fact that coronavirus is so contagious, it’s suddenly become the new normal for a huge amount of companies, including many who’ve never had their employees working from home before. More and more companies are encouraging their employees to work remotely, and many have been forced to consider changing the way that they do things to make this possible. As a result, it’s likely that companies will be better prepared for remote working in the future – and may even realize the benefits that it can have.

Increased Reliance on Tech

Companies are going to be relying more on technology and less on travel during the coronavirus pandemic, with travel being canceled all over the world, borders being closed, and the future of many airlines put at risk. As a result, businesses who’d normally have somebody travel to meet face to face with clients overseas have had no choice but to rely more heavily on technological solutions like video conferencing; a trend that is likely set to continue after COVID19 is all over.

Unlimited Sick Days

Several companies, including LinkedIn and Netflix, have led the way in updating their sick time policies to allow employees to take unlimited sick days, which has actually led to employees taking less time off. Most people, when faced with the ability to take as many sick days off as they please, will actually do the right thing and only use their freedom when they really need to. And with an outbreak like that of COVID19, restricted sick days have risked employees coming into work when they are ill, and infecting others.

More Online Options

For businesses who’re not yet fully invested in their online presence, things are about to change. Small business owners who tend to deal with customers face to face are hurriedly looking for money to update their website, invest in online ordering facilities and brush up their social media profiles. If you’re a small business owner looking to boost the online side of your company during the COVID19 outbreak, visit LoanPigUSA who may be able to help you get a quick injection of cash to grow your online presence.

How do you expect businesses and workforces to change after the coronavirus outbreak?

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