Everyone had to rapidly respond to the challenges posed by COVID-19. One year in and the way that business is conducted has been completely altered. As we move forward, some of the changes brought about by the pandemic will be a permanent part of doing business. The profound implications of that will affect every industry, and people everywhere, especially marginalized groups like women, and people of color.
One of the biggest changes we have seen is the trend of companies moving their headquarters or opening up new operations away from expensive cities like New York and San Francisco, to locations with lower taxes and lower costs of living. In the technology industry, this is especially true, where we have seen an exodus of companies leaving the bay area. Hewlett Packard Enterprises, Dropbox, and Oracle all recently announced they’d be moving to Texas. Others are moving to or expanding in places like Atlanta, Miami, and Denver.
There is a lot of potential for a positive impact with this trend. Companies are starting to realize that top talent doesn’t need to be in a specific city and they’re opening up to the idea of hiring in nontraditional tech hubs. This means new opportunities for those who are connected to diverse regional locations, it lowers the barriers for professionals who face economic barriers to moving to the nations most expensive cities, and presents a strong opportunity for better career balance for couples who moved to a location to prioritize one partner’s career but not the other.
Remote work and video conferencing seem to be trends that are here to stay. Before the pandemic, 80% of workers said they would prefer flexible work options to employment at a prestigious company. Since the pandemic, new data shows that 80% of employees would not even accept a job if it didn’t have those remote work benefits. In response to this 83% of employers are now offering telecommuting options with the result being as much as a 47% increase in productivity.
NEW YORK, NEW YORK – MARCH 23: A person works on her laptop in Central Park amid the coronavirus … [+]
Getty Images
Remote work and video conferencing seem to be trends that are here to stay. Before the pandemic, 80% of workers said they would prefer flexible work options to employment at a prestigious company. Since the pandemic, new data shows that 80% of employees would not even accept a job if it didn’t have those remote work benefits. In response to this 83% of employers are now offering telecommuting options with the result being as much as a 47% increase in productivity.
Remote work and video conferencing seem to be trends that are here to stay. Before the pandemic, 80% of workers said they would prefer flexible work options to employment at a prestigious company. Since the pandemic, new data shows that 80% of employees would not even accept a job if it didn’t have those remote work benefits. In response to this 83% of employers are now offering telecommuting options with the result being as much as a 47% increase in productivity.
Equal Pay Today released annual pay inequality data showing amount women who work full-time are paid … [+]
Equal Pay Today and Women Who Code
Changes like these have the ability to open up opportunities to a talented and much more diverse workforce, but increasing diversity needs to be a strategic decision that is supported by initiatives and process changes within organizations. Without purposeful steps economic recovery becomes more difficult and underrepresented and marginalized communities fall further behind. Some of the changes we are seeing as a result of the pandemic are having this effect, 25% of women are considering leaving the workforce or decelerating their careers. The disproportionate amount of unpaid labor that has fallen on them in the form of caring for children and elderly relatives is a major cause of this issue.
Women and people of color have experienced a disproportionately negative financial impact during the pandemic. A trend like that could indicate a regression of the progress made in recent years. As recovery takes place it will be important to keep an eye on the data and ensure that this is not a change that is permanent.
Amid the disruptions of the pandemic, the people were not silent. In the last year, we have seen the rise of protests against racial injustice and inequality. The corporate world is starting to respond. Many major companies have crafted policies and made statements to oppose racism. However, those are just words if they are not backed up by action. Moving forward, it will be important to continue to push for equality, and hold corporations accountable to their commitments.
Business has been changed forever by the events of the past year. Which of those changes are permanent are not yet set in stone. It is up to both people and companies to take advantage of this period of radical change. We have an opportunity now to make things better or to make them worse. Only through strategic effort, vigilance, and empathy, can we start to heal in a way that makes us stronger as a society and an economy.
