There are many unknowns about how the coronavirus crisis will unfold, and nobody knows how long the economic downturn will last for. In his article for Insider Pro, Mike Elgan explains the importance of increasing IT spend now, and focusing on retaining or even hiring IT talent. It is unlikely that after the crisis is over that office work will return to pre-pandemic office-to-home work ratios. The higher cost of face-to-face interactions will go way down, but the relatively lower cost of electronic interactions will go up, and that will force a shift in spending toward security tools and teleworking software. A great number of business are preparing for permanent increases in work-from-home staff, but the consumer broadband services they are planning on using may not be able to keep up with demand. He also suggests planning for the distribution of mobile hotspots and other alternative ways to get home workers online, while also ensuring that special adjustments in infrastructure, hardware and software are made for IT personnel. Finally, during and after the crisis, a return to successful operations will require leadership. The need for central communication is greater than ever, so there should be one team that meets regularly and sends out updated information in a quick and transparent manner.
Carsten Lund Pedersen and Thomas Ritter, authors for the Harvard Business Review suggest that the following questions can guide companies as they work to bounce back from the pandemic’s impact:
- What position can you attain during and after the pandemic?
- What is your plan for bouncing back?
- How will your culture and identity change?
- What new projects do you need to launch, run, and coordinate?
- How prepared are you to execute your plans and projects?
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