With recent progress in the development and distribution of vaccines, the idea of employees safely returning to physical offices is beginning to feel more within reach. However, 2020 was a transformative year and many businesses will not be returning to the way things were. So, what will the “next normal” work environment look like as we move closer toward a post-pandemic world?
Though remote employment opportunities existed before the COVID-19 pandemic, the global crisis forced many industries to require their employees to work from home indefinitely. According to a recent Gartner Forecast on remote workers, social distancing will likely continue until the end of 2021, with remote employment to be more common as workplace safety concerns persist.
In the United States, Gartner predicts remote employees will make up more than 50 percent of the workforce by 2024. Worldwide, remote workers are predicted to make up 30 percent of the workforce that same year, which is up from the 17 percent that worked remotely in 2019. Social media giant, Twitter, announced in May that nearly all of its employees will have the option to work from home “forever,” if they desire to. It is likely that many companies will adopt a hybrid work schedule indefinitely, allowing employees to spend some days each week working at home and others in the office.
In 2020, digital transformations were propelled as companies were forced to adapt. Many have ramped up their reliance on technology to maintain connectivity, inclusiveness and a sense of common experience between on and off-site workers. Virtual reality meeting tools are becoming more widely tested, for example, helping to bridge the connectedness gap between remote, hybrid and/or onsite workers. Some companies, such as retail brand Zappos, are utilizing interactive tools in meetings such as user polls and the “raise hand” function in addition to hosting “virtual happy hours” with guest appearances from artists in order to promote a sense of community despite physical distance between employees.
“Digital workers” are expected to become increasingly utilized by companies in a post-pandemic world, as well. These technological innovations, such as artificial intelligence and robotic process automation, will supplement the work of human employees and allow for routine tasks to become automated. In turn, this opens more opportunities to tap the “human” qualities of employees, such as people’s ability to think creatively and empathize with customers and clients.
Though the COVID-19 pandemic forced companies to quickly adapt, it will likely not be the last event to disrupt the workplace. For this reason, companies who do not prepare for future disturbances by becoming more innovative and agile with their technology and their workforce will likely be “left behind,” as the IDC notes in its perspective on the future of work.1
All of this requires companies to invest, and invest at a time when, for many, revenues are down and there is still a bit of uncertainty on the horizon. According to IDC’s Worldwide IT Leasing and Financing Forecast, 2020–2024, IT leasing and spending for the top 25 markets will reach $330.4 billion by 2024, with a 6.2% compound annual growth rate.2 Why? Because flexible payment options can support customers’ unique needs when it comes to acquiring the technology needed for the “next normal” workplace. Especially as those needs are evolving faster than ever. Payment solutions can ease cashflow concerns and allow customers to deploy needed solutions quickly.
To learn more about how payment solutions can help organizations in acquiring the technology needed for the evolving workplace, please contact us.
1IDC, What Does a Safe Return to Work Look Like?, Doc # US47184120, December 2020
2IDC, Worldwide IT Leasing and Financing Forecast, 2020–2024: Top 25 Countries — Resiliency During a Turbulent Year, Doc # US47085420, December 2020
