The positive impact of 2020 crisis on the industry
The Covid-19 pandemic has severely affected the world; the global to local environment has witnessed apparent negative and positive impacts. Lockdowns have been implemented worldwide to stop the spread of novel coronavirus, considering its contagious nature. Global lockdowns have greatly altered the energy patterns and, at the same time, causing an economic downturn.
Due to its rapid transmission, the Covid-19 pandemic has garnered global attention. Despite having many negative impacts, there are some positive impacts on a few industries with the pandemic.
During the Covid-19 pandemic, the entire world has changed dramatically- how we shop, receive health services, educate our children, and engage with others personally and professionally. In addition, organizations/companies had to adapt quickly because of the digitization after the pandemic.
Work From Home Trend:
Over the years, we have been in the world of the office work culture, but Covid-19 made both employers and employees seek alternative work arrangements. Due to the pandemic, almost all the IT employees experienced the style of working from home (WFH).
Employees benefited greatly from the "Work From Home" trend; they enjoy spending some valuable time with their families. Also, they save their expenses and enjoy home food as well. Moreover, Working from Home is the best option for housewives and people who cannot come to the office because of some health issues.
A Rise in Share Market:
Based on the recent analysis, the share market has risen 150% globally even after the Covid-19 pandemic. The reason behind this is the continuing low-interest rates and liquid injection from different countries. The health and IT sector are still booming during this pandemic, and industries have adopted working culture and market trends to generate profit besides this drastic change.
Digital Transformation:
The Covid-19 pandemic has speeded the adoption of digital technologies in almost all sectors. In many industries and companies, the pandemic brought years of change in doing business. The Corona crisis has greatly impacted business activities, the global economy, and people's working environment. Apart from businesses, the Covid-19 pandemic also explores the digital transformation of education for the younger generation.
Highlighted the significance of upskilling and training:
During the initial adjustments resulting from the Covid-19 impact, the employees quickly adapted to new systems. But here, the problem was communication. Few people settled well into a virtual communication space, where few others have struggled a lot to get on board with the concept. It is the responsibility of employers to support and train their staff through such changes and give some time to allocate to upgrade their skills.
Conclusion:
It's a known fact that the Covid-19 pandemic has impacted the world negatively. But, there's another side of the coin, people benefit a lot from Digital transformation and working from home trends that have arisen during the pandemic. So, be optimistic grab the opportunities even from the crises.