It is no surprise that the Covid-19 Pandemic disrupted the job market globally during 2020. Businesses were turned upside down as they had to adjust to the new temporary reality of life. No one imagined that the pandemic would have lasted as long as it did. Businesses had to lay people off, adjust policies and procedures, and some even had to close their doors. Now, 3 years later the Western New York job market is starting to recover from the destruction of the pandemic and businesses are coming out stronger than ever.
The most evident impact of COVID-19 on the labor force was the immense increase in individuals working remotely. A study done by the Mckinsey Global Institute found that although some work can be done remotely, it is in all parties’ best interest to be done in person. Some examples of work that can lose effectiveness when performed remotely include negotiations, critical business decisions, brainstorming sessions, providing sensitive feedback, and onboarding new employees.
Although there is still an appealing factor for some to work remotely or even step into hybrid roles, there are a vast majority that are eager to physically return to the workplace full throttle. Not only does being located in the office provide accountability to perform your job without the distractions of your home life surrounding you, but it also keeps camaraderie up between you and your peers. Studies show that the workplace setting bridges the gap of isolation, decreasing depression.
One thing the pandemic did was show people how they work best. It gave a Birdseye view of the type of space they need and the types of experiences that they cannot receive working alone. A poll of more than 150 CEOs reveals that organizations were struggling to foster strong communication, collaboration, and team bonding within the remote setting. Although there are some that do not want to admit it, employees intuitively know that the office is needed to maximize their productivity. It is reported that 61% of workers feel that time in the office is necessary to perform their job at the standard needed.
COVID-19 made companies rethink and redefine their business structures. They shaped up to identify and prioritize their revenue opportunities. Although this looks different for every company, the pandemic made businesses adapt for the better. Owners reflected on how to alter their in-house practices to prevail.