Post-Pandemic Work Life
The past year has forced society to reimagine where and how work will get done. Labour markets were disrupted, certain trends or patterns in the workforce took off, and now we’re left in an ambiguous space where returning to the old conditions is no longer the aim. Here are some of the main features of work in the upcoming year.
Expect remote work and virtual meetings to continue.
Prolonged work-from-home period have improved productivity. This is caused by the flexibility produced by working from the comfort of your own home. Employees managed to incorporate house chores or new hobbies that their previous work lifestyle prevented. It also contributed to less spending: no lunch meetings and less gas fees. According to a PwC report, remote work was successful for both employees and employers with 55% of employees preferring to be remote at least three days a week once pandemic concerns recede.
As individuals and companies shift from large cities into suburbs and small cities, this could trigger a major change in the geography of work. Demand for restaurants and retail in urban areas and for public transportation may decline as a result.
That being said, some activities are best done in person. Welcoming new recruits and discussing critical business decisions may lose effectiveness when done remotely. This is where a hybrid approach comes into play, a workplace where a large number of office employees rotate in and out of offices or shared spaces. Employers can benefit from spending less on rent as they transform the company’s culture, employee engagement, the way the work gets done and how office space is used.
E-commerce activity grows rapidly.
The convenience of e-commerce has never been doubted and the pandemic only amplified that. Australia Post recorded a phenomenal growth in 2020 whereby Australians spent $50.46 billion online, an increase of $32.1 billion from 2019, with 16.3% of retail spend (excluding restaurants and takeaway food).
Other kinds of virtual commodities such as online banking, telephone health consults, and entertainment streaming have accelerated. While virtual practices may decline as economies reopen, they are likely to continue well above levels seen before the pandemic. This shift to digital transactions has also prompted growth in delivery, transportation, and warehouse jobs.
Shift in occupations
A variety of occupations may emerge after the pandemic across eight economies: China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States. McKinsey & Company showed that the largest negative impact of the pandemic fell on workers in food service and customer sales. Meanwhile, jobs in warehousing and transportation increased due to the growth of e-commerce. Demand for workers in the healthcare and STEM occupations may grow, reflecting increased attention to health as well as the growing need for individuals with the ability to create new technologies.