Features
In the COVID-19 era many people are taking the opportunity to organise and simplify their home working spaces, making good use of the ample time at home. But de-cluttering your virtual space – including your computer/laptop, phone, cloud storage, etc – is just as important as de-cluttering your physical space.
To find the right individual for the job will be a challenge for employers as well as hiring managers. With several companies intending to enhance their hiring efforts this year, it’s necessary that you put extra effort and time into how you attract the most effective prospects feasible. With more possibilities for talent comes even more competitors for you, as well as making the ideal hire currently is crucial to strengthening your firm today as well as into the future.
The current situation has taught us a lot of valuable lessons, particularly about the true power of digital. With brands like Primark reducing their revenue to zero as a result of having no e-commerce strategy and B2B businesses that previously relied on trade shows forced to transfer online, the value of having a strong digital brand presence is now more important than ever before.
Today, many businesses are executing large-scale digital transformation efforts to keep up with the changing market demands and fast-paced competitors. In fact, a global survey conducted by McKinsey discovered that more than 80% of respondents stated their organisations have undertaken such efforts in the past five years.
It’s always refreshing when policymakers break with the status quo and do something genuinely left-field and unexpected. The current pandemic has certainly produced its fair share of bold initiatives. In the UK we’ve just had the announcement of Government-subsidised meal deals throughout August to boost the ailing hospitality sector. And, sitting slightly higher on the impact scale, earlier this month the French Government announced that it was making tax credits available to any citizen prepared to take out a subscription to a current affairs newspaper or magazine.
As lockdown restrictions begin to ease, SMEs need to look into engaging potential customers immediately in order to drive sales and awareness in the difficult months ahead. As the majority of the public continue to live and work remotely, however, companies must seek out new methods of marketing in order to attract better engagement. The online space has, thus, become crowded with brands attempting to cut through noise to truly make an impact on consumers.
Whilst the UK implements strategies to gradually return to life as normal, the question on everyone’s mind is how we plan to do this safely and effectively. With the process of working from home potentially coming to an end in the foreseeable future, regardless of what sector individuals work in, new safety precautions are essential to put in place to ensure the health and safety of employees and customers remain strong.
Lockdown is beginning to end, but changes in how we do business have only just begun. One country that might be able to shed some light on the upcoming unknown is Germany – having had their ‘Super Saturday’ back in April. Germany has already tackled the next economic phase that small businesses (SMEs) in the UK will have to adapt to.
A few years back, there was a two-day tube strike in London. As with most tube strikes, it forced stressed commuters to change up their route into work at short notice. When it was all over, economists who looked at Oyster Card data made a surprising finding. About one in twenty commuters who changed up their route on the days of the strike stuck with their new route.
Even in the bleakest of times, entrepreneurs have found a way to innovate and create disruptive products that have enhanced our daily lives or solved a problem. Take the humble chocolate chip cookie, baked for the first time after the Great Depression. During a period of severe economic hardship, this new treat offered some richness and comfort and remains immensely popular to this day.
Over the past few months, the world of business has been turned upside down due to COVID-19. During such unprecedented times, maintaining customer confidence and loyalty is a key focus for companies. The way in which businesses manage its customers throughout uncertain times is often the difference between losing or retaining clients, and ultimately business survival.
The UK’s recent lockdown has seen a surge in demand for on-demand. By addressing one of the most challenging aspects of lockdown, food delivery services alone have experienced a 29% increase in popularity, and even industries historically steeped in tradition – such as theatres, pubs and restaurants – have had to embrace on-demand options. Digital businesses, in collaboration with more traditional high street counterparts, have kept access to services viable during the pandemic.
The COVID-19 pandemic has massively accelerated the pace of change in the business world. Leaders and employees have had to adapt to operate in a challenging environment, where the only certainty is change. Not only have organisations had to rapidly adjust to the changing needs of its people, customers and suppliers, but it has also navigated the financial and operational challenges. This has led to many businesses prioritising the now, focusing on reshaping its operations to stabilise revenue and align with short term demand.






