How will the pandemic affect the future of the workplace?

These are uncertain times, and no one can know what trajectory the COVID-19 virus will take or what level of destruction will be left in its path. One thing nearly every economist seems to agree upon is that in the aftermath, we will be living in a fundamentally different world. And while no one can predict precisely what the new workplace will look like, there are already a few assumptions we can make.

Remote workers will become more common. If nothing else, this pandemic has proven that most white-collar jobs these days can be performed remotely. Will companies decide to reduce their physical office space? Will they be more apt to embrace remote working than they have been in the past? I think both may happen. Remote workers have long been among companies’ most productive employees without the added overhead of office space. And it’s a benefit that at least costs the employer nothing, and at best saves the employer money.

Small business will be forever changed. We have seen regional events—hurricanes, tornadoes, wildfires, or massive power outages--that devastate the small business market. However, those are localized. This is ubiquitous. More than 60% of all American workers are employed in the small business market, defined as businesses with fewer than 100 employees. It’s estimated that 50% of those small businesses are uninsured or underinsured, which means that almost half of the companies that employ 60% of Americans carry no business interruption insurance.

How we interact with each other will be different. Hopefully, you are all practicing “social distancing,” as it is critical to mitigating the risk of spreading the virus. Will we maintain this practice? Will the custom of shaking hands disappear from our culture? 

Physical workplaces will look different. Just as how a construction site is equipped with hardhats and hearing protection, corporate offices may be equipped with biological protection kits containing equipment like masks, gloves, and other protective gear. Individual employees may begin keeping a personal emergency kit at their workstations, as well. 

I wish I could predict how this is going to shake out. And I wish there weren’t so many unknowns. To you, my clients and readers, I wish you all health, safety and peace. Be kind to each other and try to look to a positive future.