July 13, 2021
The next steps for business
Nearly 40% in the technology industry claim that the ‘step 3’ easing measures have resulted in an increase to their sales revenues. This suggests that more businesses are embracing change to allow greater flexibility and scalability within their business models.
A good friend once said to me of the pandemic, “We are all sailing in the same sea, just in different boats”.
Of course, we have all been navigating over the past 18 months the best way we can – but for some, they are at the helm of much larger ships, and by larger ships, I mean those with responsibility for businesses, who are not only navigating this journey personally, but are also responsible for helping other smaller ships, their employees, to weather the storm.
Following the Government’s recent confirmation that the July 19th ‘Freedom Day’ will go ahead as planned, we’ve reviewed the data to see what clues there are and what businesses can expect the short term to look like as the legal restrictions are now set to become guidance.
At the time of the data being collected, half (47%) of businesses felt that the Government had paced the easing of restrictions ‘just about right’ – but this was with the hope that we would have been back to the new normal from June 21st.
24% of businesses claim they will be re-opening their premises (be that shops, offices or other sites). But what additional plans will need to be in place to give customers and employees alike the reassurances to operate efficiently? Many will now be looking at what policies they need to implement to reach that balance of health, wellbeing and commercial success.
But what about the staff? There’s a glimmer of hope for those that have been patiently waiting on furlough, with 21% of businesses looking to bring staff back from furlough, while just one in ten (11%) suggest they will have to make those on furlough redundant. This is a nervous time for any employee waiting to receive a phone call from their employer, however, one in five businesses claim that as we edge closer to this final step of the roadmap out of restrictions they will be hiring new staff.
So how have businesses coped so far? We know that in order to survive many businesses have adapted their operational models, often implementing new technology in order to maintain their presence in the market. Nearly 40% in the technology industry claim that the ‘step 3’ easing measures have resulted in an increase to their sales revenues. This suggests that more businesses are embracing change to allow greater flexibility and scalability within their business models.
The evidence certainly seems to suggest that the fight back is on. The question that I would ask, is that while restrictions may be easing, what happens next? How will businesses navigate the changes in policies? Many now have blueprints in place for a lockdown way of working if needed again, but can the country really cope with any more major restrictions, or local fires being put out with regional lockdowns?
While we may not have all of the answers now, we do know how to get the information that you need to support the next steps.
For further information please click here.
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