Nearly three-quarters of IT and business leaders say their business will emerge stronger from the COVID-19 crisis: Study

The optimism is indicative of the ingenuity and innovation organizations have shown

Nearly three-quarters of IT and business leaders say their business will emerge stronger from the COVID-19 crisis: Study - CIO&Leader

74% of IT and business leaders said their business will in some ways emerge stronger from the COVID-19 pandemic, according to Cisco’s study, titled A New Perspective on the Modern Workplace. This points to a forward-looking view of IT and business leaders as they navigate their return to office strategies.

The research upon which the report is based was designed and executed by IT industry analyst firm, Freeform Dynamics. Input was gathered via three separate, but linked, studies spanning the pre-pandemic to mid-pandemic period (late 2019 to May/June 2020).

Some of the key findings of the study include:  
 
74% said their business will in some ways emerge stronger from the crisis 

While the first half of 2020 was among one of the most tumultuous times in modern history, nearly three-quarters of respondents agreed or strongly agreed with the statement: Despite the challenges, our business will emerge stronger in some areas from the current crisis. This optimism is indicative of the ingenuity and innovation organizations have shown. It has been incredible to see how many initiatives around digital transformation and other forms of modernization scheduled for the medium to long-term, or deferred because of other competing priorities, have been accelerated.

Respondents say flexibility is here to stay, and it will benefit organizations as well as employees 

Almost half (49%) of respondents indicated that flexible working hours are here to stay. And when it comes to hiring, 50% of our survey respondents said increased remote work would lead to a more inclusive and extended talent pool. Businesses are realizing that work can happen anywhere, productivity isn’t lost, and an expanded talent pool will enable stronger and more capable work teams.

The vast majority of managers said they have increased their emphasis on employee wellbeing and work-life balance

Nearly 9 out of 10 managers (87%) who responded to the survey said that as a result of the pandemic they increased emphasis on employee wellbeing and work-life balance. Of those managers reporting the increased emphasis, nearly half (47%) said they see this being maintained over the long term.

Study participants said they viewed the pandemic as a catalyst for major change. This newfound focus and priority on health and wellbeing is a silver-lining during what is otherwise a sobering period of time. The obvious question remains as to whether this mindset shift can withstand the test of time, but participants were optimistic that workplace culture is transforming in the right direction.

Participants said:

- Empathy is so important, and you definitely see this more now.
- Some of my team have been working cross-legged on their bed for weeks now. It’s hard to balance getting results with their comfort, but we need kindness and understanding during this time.
- We are being human first now. I think there’s going to be more emphasis on individual health and mindfulness.

“From a business agility and resiliency perspective, it’s important that we learn and adapt quickly from this experience,” said ArunaRavichandran, VP of Marketing, Cisco’s Collaboration Group. “You never know when you’ll need to pivot, and we’ve seen that technology like Webex is playing a key role.”


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