Employers and employees alike have been dramatically affected by the COVID-19 pandemic. Companies have been scrambling to take care of their teams and clients—a transition that has manifested itself in many different ways. Some have experienced waves of furloughs; others have been hiring to meet new demands. Overall, the pandemic has meant something different for every business, but there are similarities across the board. Here are a few ways that we’ve seen the COVID-19 pandemic shake up the workforce.
Work from Home is a New Normal
For teams that are able to work remotely, working from home has become a new normal. Some consider this shift a positive one, as many businesses are now testing the waters, when they may have not otherwise tried. Countless businesses have spent this time learning how their employees work when they aren’t in the office, as well as how they can improve their remote-work practices.
The shift to a work-from-home culture has proven to be beneficial for several companies. With a few of the benefits being:
- Productive Employees: In a study by CoSo Cloud, 77% of the employees surveyed reported that they felt more productive when working remotely. Without the distraction of coworkers, lunch outings, and other common office distractions, employees can work when they feel most productive without constant interruptions.
- Lower Overhead Cost: Some businesses have left their offices altogether, saving the money they would typically spend on rent. This has given these companies more flexibility in their budgets, especially as the economy is in an uncertain state.
- Time Saved: Employees save time throughout the day when working from home. They no longer spend time driving to or from the office, leaving for food or packing their lunch, or stopping for their morning coffee.
- Employee Satisfaction: When employees work remotely, they can more easily take care of their work-life balance without compromising either. Work moves with them, so they will be inclined to take less time off for appointments and other necessary time commitments, allowing them to instead take time off to completely unplug and relax.
Companies Are Learning More About the Virtual Workforce
As work-from-home environments have become wildly popular, and necessary, amid COVID-19, leadership teams are working to learn more about how to effectively manage their teams remotely. The platform is drastically different, encouraging companies to find new ways to engage and challenge their employees virtually. This comes in many forms—some of the most common being frequent video conferencing, virtual employee activities, and collaboration tools. Remote work trends will continue to evolve as the practice becomes more common and the workforce as a whole evolves.
Companies are Evaluating Current Positions
During these transitions, companies are also taking time to re-evaluate their budgets to identify possible improvements. Many businesses with reduced or modified budgets are discovering ways their employees could be more efficient, which can result in position changes, a transition in responsibilities, and hiring or terminating team members.
Companies are Leaning on their Employment Partners
During these ever-changing conditions, companies are leaning on their employment partners to make operations easier. Compliance regulations, benefits, payroll, and other HR-related elements can become cumbersome, especially when your team is focusing on countless other tasks.
Contact us today to learn how LBMC Employment Partners can reduce your workload when it comes to taking care of employees.