Strategy & LeadershipHR EffectivenessCOVID-19: 5 reasons to remain positive during the coronavirus pandemic

COVID-19: 5 reasons to remain positive during the coronavirus pandemic

COVID-19 has caused unprecedented disruption in the business world, but there is also a great opportunity in it for business leaders to learn and grow. Here are 5 potential positive outcomes from the coronavirus outbreak to help you stay focused on the bright side.

In a period of just three months, COVID-19 has infected over a million people worldwide and continues to envelop the globe today. With several nations now entering lockdown phases, the world appears to be approaching a standstill.

Whilst industry and business will always suffer as a result of this, there is still substantial scope for many organizations to adapt and begin operating in a different way. In turn, despite the challenges coronavirus poses, these companies can still benefit in other ways and derive positive learning points from the experience.

With this in mind, we identified 5 reasons for business leaders to remain positive during this time:

Digital will still thrive

As expected, opportunities are being lost in domains such as events and more traditional forms of marketing. Those working in TV are also being affected, with ITV estimating that they will see a 10% decrease in revenue due to coronavirus.

However, a freeze in in the momentum of industries depending largely upon physical input leaves space for purely digital mediums. Most notably, there is likely to be a major upturn in social media and digital marketing opportunities, and many organizations will strategically gravitate towards this.

One study showed that only 7% of organizations had stopped spending on advertising, and forecasts social media spending to rise by 22.2%.

Moreover, the same study shows that 14% of the clients of one digital marketing consultancy said they were moving to online media despite having previously favoured offline media.

This spells good news not only for digital marketing organizations, but for those whose product or service can be strategically directed towards digital mediums for the time being.

Work/life balance = employee happiness

It is widely believed that happy, healthy employees ultimately generate greater profits. Though productivity levels are a big part of this, companies can also cut costs by avoiding things such as compensation claims and employees taking extra time off.

Much of this comes down to work/life balance – a familiar term for modern professionals, and yet something that is not a primary concern for many business leaders, with studies showing that around one fifth of the UK’s working population are unhappy at work.

However, while greatly damaging in many regards, the coronavirus pandemic could provide a solution to the work/life balance for many workers. In theory, the widespread implementation of flexible and remote working should spell a much healthier work/life balance, especially if organisations learn from this experience to implement flexible working options more widely.

What's Hot

HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World

Roundtable Report HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World 5 May 2022

8m

HRD Roundtable Report: Levelling Up Onboarding for...

Attracting new talent is shooting up the priority list, but also proving more difficult than ever. A...

View event
HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments

Roundtable Report HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments 26 May 2022

8m

HRD Roundtable Report: Redefining Company Culture ...

The process of redefining a company culture is a complex one. Culture contributes directly to the da...

View event
Learning to win the talent war: how digital marketing can develop its people

Whitepaper | Talent Development Learning to win the talent war: how digital marketing can develop its people

9m

Learning to win the talent war: how digital market...

This report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. I...

View resource
HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce

Roundtable Report HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce 5 May 2022

9m

HRD Roundtable Report: Strategies For Re-Engaging ...

We know hybrid working is here to stay, forcing many organisations to experiment with innovative and...

View event
HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain

Roundtable Report HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain 3 March 2022

9m

HRD Roundtable Report: Making it ‘Worth It’ – What...

We know the pandemic has caused many people to revaluate their careers and relationships with work a...

View event
Dave Ulrich: How can business and HR leaders simplify complexity?

Leadership Development Dave Ulrich: How can business and HR leaders simplify complexity?

1y Dave Ulrich

Dave Ulrich: How can business and HR leaders simpl...

HR thought leader Dave Ulrich outlines ways leaders can deal with complexity in an increasingly busy...

View article
HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making

Roundtable Report HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making 5 May 2022

9m

HRD Roundtable Report: Using HR Data to Inform Org...

Historically, HR hasn’t been as effective as it could be in sharing and communicating data with wide...

View event
Digital transformation investment grows but critical skills gaps remain - Coursera report

Digital HR Digital transformation investment grows but critical skills gaps remain - Coursera report

1y Leah Belsky

Digital transformation investment grows but critic...

Covid-19 has accelerated the rate of digital learning on a global scale. Coursera's latest report pr...

View article
Wellbeing in the hybrid workplace: how to successfully drive engagement

Employee Engagement Wellbeing in the hybrid workplace: how to successfully drive engagement

1y Alara Basul | Sponsored

Wellbeing in the hybrid workplace: how to successf...

Remote working has impacted the way we communicate as a workforce, but striking the right balance be...

View article
How to create a company culture capable of empowering the modern workforce

Culture How to create a company culture capable of empowering the modern workforce

1y Alara Basul | Sponsored

How to create a company culture capable of empower...

While new working patterns that emerged from the pandemic have earned a permanent spot in the w...

View article
WATCH: Connection and collaboration in a hybrid workplace

Leadership Learnings WATCH: Connection and collaboration in a hybrid workplace

1y Amy Kirkham

WATCH: Connection and collaboration in a hybrid wo...

Alison Noon-Jones, VP of People & Culture at Leidos UK & Europe, shares how crucial employee engagem...

View article
Turbulence ahead: Why it’s time to be bold in your leadership

Leadership Development Turbulence ahead: Why it’s time to be bold in your leadership

1y Terence Mauri

Turbulence ahead: Why it’s time to be bold in your...

HRD thought leader and Hack Future Lab founder Terence Mauri sets out why the biggest risk to leader...

View article

Aside from the working hours themselves, this is likely to be heavily influenced by the lack of commuting. According to data published in 2018, London commuters spend an average of 81 minutes commuting each day.

Another study found that those who commuted for over an hour were 33% more likely to suffer from depression. So, not only will this new routine mean time saved which can be dedicated to personal and family life, but it is likely to also save money, reduce fatigue and improve overall health.

A new workplace for 2020

As a result of the pandemic, employers will have the opportunity to ‘trial’ new measures that could and perhaps should be in place year-round.

Many feel that in certain cases, this could set a new precedent for the working landscape; employers’ attitudes will change and so too will employees’ expectations.

One of the most prominent examples of this is flexible working. Figures show that, at present, 70% of UK workers do not ordinarily have the option to work flexibly. And yet, employers have been left with no choice but to implement this during the pandemic.

Similarly, many employers are introducing new employee experience solutions to keep their workforce engaged and connected to their company’s purpose, such as improving communication and encouraging more time for social interaction among colleagues.

As a result of these new attitudes and tools, office life could look very different post-coronavirus, with the outlook of both employees and employers having potentially changed for the better.

Stronger internal communication

Strong internal communication is a key to the successful operation of all businesses. Research suggests that it enhances overall company performance by 36% and profits by 30%,

Thanks to the progression of technology, this is an area that is being rapidly digitized, with various systems and software now playing a crucial role in keeping a workforce connected with one another and to the company’s brand and purpose.

Moreover, with many organizations now operating remotely, there has never been a better time for employers to take the leap and improve this aspect of the business.

Tools such as Slack, Poppulo and Microsoft Teams are all popular options, and many such tools are now being temporarily offered for free by developers in light of the pandemic. This could present a great opportunity for smaller businesses with lower budgets.

Not only is this a prime opportunity for companies to invest in this technology, but also to test it among the workforce and experiment with it.

Should an employer choose to do this now, they may find themselves and their teams returning to office life with much more efficient and sophisticated systems already in place, allowing them to operate more effectively than before.

New opportunities

From a certain perspective, disruption can act as an opportunity. As one door closes, another opens – it might be a cliché, but it will apply to many leaders during this troubling time.

With physical mediums postponed due to the virus, businesses are having to adapt, and in some cases, will discover new, permanent fixtures as a result. For instance, with the events industry currently falling by the wayside, many organizations are turning to virtual events.

Aside from just being a business venture which could stick in the long run, this is a prime opportunity to introduce teams to new technologies, and further engage them by presenting new, exciting projects.

This could also be a big step in terms of talent management. The pandemic outbreak has sparked mass redundancies, with the United States Labour Department reporting that 3.3 million people applied for unemployment benefits just last week.

Events staff are a group hit particularly hard by the situation, however, a fresh initiative to create and deliver virtual events could contribute to repurposing many of these workers.

Subscribe to HRD Connect for daily updates on the future of work, including thought leadership, video interviews, the HRD Live Podcast and more.

Comments are closed.

What's Hot

HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World

Roundtable Report HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World 5 May 2022

8m

HRD Roundtable Report: Levelling Up Onboarding for...

Attracting new talent is shooting up the priority list, but also proving more difficult than ever. A...

View event
HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments

Roundtable Report HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments 26 May 2022

8m

HRD Roundtable Report: Redefining Company Culture ...

The process of redefining a company culture is a complex one. Culture contributes directly to the da...

View event
Learning to win the talent war: how digital marketing can develop its people

Whitepaper | Talent Development Learning to win the talent war: how digital marketing can develop its people

9m

Learning to win the talent war: how digital market...

This report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. I...

View resource
HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce

Roundtable Report HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce 5 May 2022

9m

HRD Roundtable Report: Strategies For Re-Engaging ...

We know hybrid working is here to stay, forcing many organisations to experiment with innovative and...

View event
HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain

Roundtable Report HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain 3 March 2022

9m

HRD Roundtable Report: Making it ‘Worth It’ – What...

We know the pandemic has caused many people to revaluate their careers and relationships with work a...

View event
Dave Ulrich: How can business and HR leaders simplify complexity?

Leadership Development Dave Ulrich: How can business and HR leaders simplify complexity?

1y Dave Ulrich

Dave Ulrich: How can business and HR leaders simpl...

HR thought leader Dave Ulrich outlines ways leaders can deal with complexity in an increasingly busy...

View article
HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making

Roundtable Report HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making 5 May 2022

9m

HRD Roundtable Report: Using HR Data to Inform Org...

Historically, HR hasn’t been as effective as it could be in sharing and communicating data with wide...

View event
Digital transformation investment grows but critical skills gaps remain - Coursera report

Digital HR Digital transformation investment grows but critical skills gaps remain - Coursera report

1y Leah Belsky

Digital transformation investment grows but critic...

Covid-19 has accelerated the rate of digital learning on a global scale. Coursera's latest report pr...

View article