As the world reopens, many companies have learned that online collaboration works at a lower cost. Moving forward, tech darlings such as Zoom, Google Meet, Microsoft Teams and Cisco Webex can replace certain in-person meetings in which everyone or half the group traveled. In other words, the future will be more of like a hybrid environment. Some meetings could happen on Zoom, while others will remain better off as in-person.
Many current WFH employees have questioned if conferences will offer options of in-person or virtual. More employees will have the opportunity to attend at a lower price or even at no cost if virtual is a choice. However, many have also complained about developing Zoom fatigue due to burnout/companies overusing or improperly using the software.
Some agreed that there should be adoption and continuation of e-signature platforms in the post-pandemic world. Depending upon circumstances, suggested tech darlings will still have a role to play but at the same time, usage will drop off dramatically if folks seek ways to engage face-to-face.
Firms have also invested a lot in work-from-home infrastructure and they see that employee productivity hasn’t suffered. Moreover, company costs are plummeting as there is no longer a need for real estate. NYC is already seeing a huge decline in office space — leading to its devalue of commercial space. If working from home or remote work will continue into the future, this leads to the reason — finances.
Along the same lines, business travel won’t be coming back anytime soon to the levels that it used to be pre-pandemic — due to financial reasons as well.
A Regional Director at a software company stated that in a way, we are all victims of our own success, because if we weren’t able to conduct business using remote tools and our company’s bottom lines were hurting, we’d all be back on the airplanes tomorrow!
The pandemic has ushered in an era that was always technologically viable for the past decade, but culturally not acceptable. Yesterday’s “office” is not what tomorrow’s “office” will be. Remote work and Zoom is here to stay as we move forward.
For many employees currently working remotely, Zoom fatigue is real however they do not have to face nightmare traffic or the fear of being a few minutes late due to a train delay because of a sick passenger. The quality of life that zero-commuting hours have provided is not something that many want to give up.
Productivity has turned out to much higher for certain folks on a Zoom call when they do not have to pay attention to the portion of the meeting that doesn’t apply to them.
In addition, Zoom’s turning on/off camera feature allows folks to gain control over their participation level while yesterday’s “office” meetings did not give them that option.
Let’s put it this way — face-to-face has mostly qualitative benefits. Zoom and other tech darlings have more quantitative benefits as you can put a cost savings on how many less miles you have traveled, how much less utilities are being spent, etc. Many companies that were opposed to remote work are now implementing it as a standard form of work.
Even in the event that the current generation of business leaders usher in the return to offices and lead to a drop off of Zoom and other tech darlings, tomorrow’s business leaders (not to mention — the one’s that are more tech savvy), won’t forget that they could accomplish a lot of their work remotely.
In other words, Zoom and other tech darlings may face a slight drop off in the short-term, but their long-term future is looking bright.
All in all, companies will need to balance cost with profitability. So far, we have mentioned that there are folks with both sides of the spectrum.
There are those who feel that they need to have everybody in a room for brainstorming future projects and can’t get what they need done via Zoom meetings.
Then there are those who say in-person group meetings were a waste of time, and they can get much more done with a quick Zoom meeting where folks can say their part and tune out/leave if there are parts of the meeting that they are not accountable for.
Additionally, while some folks enjoy commuting to work, they will not want to spend wasted hours in traffic, so having a flexible and hybrid schedule kind of option would be beneficial to both parties.
This also leads to a theory that some folks have believed that while there will be some companies that will continue to allow their employees to work remotely, they are hoping that the option will become part of a company’s “benefits” package. This could be part of the new market as many job seekers are seeking remote positions.
Many businesses found Zoom to be a huge asset to them as their customer pool has expanded globally instead of locally, which helped their business grow immensely during the pandemic.
Even if some companies reduce their usage of Zoom, there are families who have adopted that software to stay in touch with loved ones at a distance.
Eventually, a return to workplaces and classrooms will decrease the need for Zoom meetings. However, the pandemic also showed so many companies how to do business with minimal travel travel and office costs — and this learning will continue to drive the market in many ways.