How Covid-19 Has Shaped The Way Companies Do Business

By now we are aware of how many governments responded to the Covid-19 pandemic. From lockdowns to travel restrictions, it has affected just about every aspect of our life.

Businesses have also had to respond which is apparent by how many people have been laid off or are now working remotely. Some businesses and even entire industries have disappeared and may not make a comeback. Those that have survived have had to take measures like social distancing that Dennis Bonnen suggests should stick around.

Many have had to adjust to the new realities and adapt in ways that they may not have planned for previously. What does this all mean for the near term or long term for businesses?

In this article, we will take a look at how many companies have responded and what may be in store for later.

1 — More reliance on technology

Beyond using tech to keep the work going by doing video calls and things like that, they are also using it to be more efficient in general.

There is software for everything these days so many processes that were wasteful in terms of money and personnel are being done automatically. Human resources now rely more heavily on digital signatures and are using apps to take care of things that normally would require many people signing off on things.

These processes may put people out of work for good since there won’t be much of a reason to change If AI continues to develop as it is these days, then many office workers will have to switch careers.

2 — Foreign outsourcing

Low cost of living countries have a more highly educated population than ever before thanks to the internet and distance learning so they can do the work well and for much less money.

3 — Focus on worker’s health

It is likely that people will be working less hours and will also allow them to focus on their well being.

Originally published at https://www.elivestory.com on October 16, 2020.

Speaker Bonnen served the 25th Legislative District in the Texas House of Representatives representing southern Brazoria County and all of Matagorda County.