2020 ushered in with no one realizing how devastating the pandemic would be for their country's economy in the months to follow. Disrupting businesses by infecting the world and killing over 800,000 at an alarming rate, the urgency to hold back the deadly virus has been both exhausting and disappointing. Stores that couldn't keep the cost of operating began to close shop for good, leaving millions of business owners bankrupt and employees distraught for work.
Working from home is the new normal
Businesses that drew revenue from working remotely were able to recuperate the fastest. Industries that relied on online services saw growth in revenue skyrocket, such as education technology, digital health and digital content. With the shutdown of schools and higher education institutions, online learning transcended as the preferred and safer alternative, the same followed for companies that began transitioning personnel into remote workers.
Survival means not giving up
While revenues continued to plunge and foreclosure in near sight, more and more business owners have begun to shed the traditional ways of doing business for more practical means. This meant outsourcing the work for lower cost to business processes outsourcing centers while keeping the company afloat. A strategic advantage that has helped entrepreneurs bide enough time to retain their top performers and create a timeline to get everyone back. Businesses that wish to survive the next phase must take a hard look at where things are headed and act fast.
COVID-19 will be here for a while
With countries diligently racing to provide a safe and potent vaccine for the virus, the expected timeline is expected for late 2021 and that is the soonest possible date calculated. Despite the optimism, there is no telling how long before everything returns to the old normal. Digging in and holding out is the only choice businesses have in order to survive.
Partnering with an outsourcer you can trust can give you the competitive edge you need to recover losses, increase revenue and ensure the safety of those you love.
If you wish to know more about how a trusted outsourcer can make a difference in your business, talk to us..