Due to the current economic situation, I foresee companies will adapt one or most of the things that I could think to ensure the sustenance and continuity of their business even during such tough times!
1. Time to revamp - companies will try to capitalize the moment to strenghten their internal processes such as tools, automation, structural issues and so on. Impact: Good utilization of resources to build skills, processes, tools and etc.
2. Consolidation of surplus or spare resources - be it hardware, human resources, office space or anything for that matter. Impact: job layoffs, companies moving to cost-effective remote locations, abondoning high-cost resources.
3. Cut on Travel cost - High usage of Video conferencing can be seen as travel on business meetings will be cut. Impact: Travel industries (Air, hotel, car) will see decline in business. Positively companies will buy high-end technologies to improve infrastructure such as video conferencing.
4. Highest ever attention to details - starting from working hours, power usage, supplies usage, parties/gatherings will be watched and optimized wherever necessary. Indirect Impact: companies may ensure employees applying leaves even for 2-3 hours late arrival. Less fun more work!
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