How Covid 19’s given birth to the ‘new’ way of work in New Zealand
It’s not question that Covid 19 has really shaken things up. Here we discuss 5 of the big patterns that are emerging that are fundamentally changing the way kiwis do business.
It’s even more about margins
The big close down and reopening as well as troubles offshore have made the threat of a big recession very real. Therefore it’s become a time to look at what’s being spent where for New Zealand businesses. Businesses are now thinking a lot about the whole value change and where to apply the 80/20 rule to succeed. We are seeing move to more strategic areas and question whether then need to be in the city or if they can maximize their supply chain elsewhere.
Trimming the fat is more of a thing
An anticipated bright future meant businesses hired to grow pre the Covid 19 outbreak. The threat of close down until a vaccine lead a wave of businesses to keep only the critical operations going. But in a lot of ways, for some businesses it was more of an execuse to go back to the drawing board and reoptimise. For instance, there was a great chance to let staff go who weren’t adding high value in their position so companies could re-stoke the engine. Moving forward it’s not expected this mistake will be made and better systems will be in place to catch bloated staffing.
Face to face isn’t as valued
A lot of commute time has been completely cut from the close down which has made virtual conferencing a more acceptable way to meet. This means companies can avoid the time spent to go around town from one meeting to another and maximise productivity. Further, there’s less of an obligation to meet face to face and people are taking their meetings while driving or doing exercise because it’s now accepted as normal.
You really don’t need to work on ‘main street
Companies in the CBD are considering if it makes sense to cram an entire company into a building. One thing that’s been talked about is the concept of ‘satellite offices’ to cut down high rent overhead and help employees congregate closer to home where they can get out of the house and away from family demands when they choose to. At the OC Park, we’ve definitely seen a surge in people considering a lifestyle change north of Wellington now many of their ‘in-city’ meetings can be conducted virtually. We expect this is because they now have the ability to work in sharp sustainable modern premises with high earthquake ratings at a much lower cost; as well as the pleasant surroundings that you just can’t get in the CBD. Lastly the traffic seems another factor as waiting for 30 minutes plus to get to and from work, is not the greatest way to spend the majority of the week.
Obviously the second part of this is that employees can work from home and life a richer life that ultimately leads to more passion and results for companies.
The suit and tie has less of a place
The corporate dress codes and formalities have somewhat been ‘unformalised’. This is a very direct consequence of important business meetings taking place on video calls where members are in their kitchen, or various rooms. Oddly this is making business relations a little more humane, and actually makes associates and business partners seem more human and relatable.
The verdict…
Somethings will likely never be the same after Covid 19. But in a lot of ways it’s in the right direction. We’re killing off some old norms that weren’t exactly optimal. Instead we are taking a progressive stance on business in exchange for more productivity and increased flexibility. This is sure to improve global efficiencies and increase living standards in both more affordability and lifestyle.
Have we missed anything? We’d love to hear your thoughts in the comments below.