My Thoughts on the 'New Normal'
I’ve been asked by quite a fair few people to say the least, on my thoughts regards our ‘new normal’. I’ve held off till now but here it is:
Firstly, I’ll say this. We are working to, and will continue to, put safety measures in place and ensure all our members are safe and protected from any major risk. That being said here’s the truth of the matter...
Lockdown sucks. Social distancing sucks. Zoom calls really suck. Being stuck at home sucks. This however is all necessary to keep everyone safe for now.
This is not permanent. This is not the ‘new normal’ we keep hearing about. It’s highly unlikely social distancing will last more than 3 or 4 months after restrictions are completely lifted. And that’s assuming it even lasts that long.
Yes business is changing and adapting, but this lifestyle as it is now is not sustainable. The world of screened off cubicles in offices, partitions in gyms, and screens in restaurants is not here to stay.
The outcome from the lack of trading over the last 10-12 weeks will be felt for the next 10-12 months, and beyond. EGi forecast 1/3 businesses won’t open up again once this is over. That’s a scary statistic right? Twinned with the remaining 2/3 needing to operate potentially reduced hours as well as social distancing will cripple economic growth and hit the overall economy.
Operating expenditure will become higher and the consumer will inevitably be hit with cost increases to ensure some form of profitability.
I saw an article about Richard Branson requesting a loan for ￡500m to help Virgin through this tough time and the comments absolutely blew my mind. So many were calling for the government to say no and let Virgin potentially fail. These same people would of course be moaning in 2 years' time when flights with the only remaining airlines are 3x the price due to the lack of competition and the rising operating costs. Ironic right?
Often in times of crisis people react irrationally and take very short term and narrow-minded views. This is inevitably human nature. I urge you not to do this, don’t get suckered in. I’ve seen some big industry hitters over the last few weeks making bold and impractical claims and assumptions that have been heavily discredited or fought back against. The world is changing yes, but this temporary situation is not going to lead to the drastic measures being put in place, lasting for the next 2, 5, or even 10 years like these ‘experts’ would lead you to believe.
Everyone will have a separate view and truth be told I don’t think anyone is correct. Better actually, I don’t think anyone really knows the answer. Oh and that includes me in case you think I actually have an answer to all this. No one truly knows what the outcome will be, and certainly not the outcome in the long term. Only time will tell, but I certainly don’t see how current safety measures and social distancing will last in the long term.
I will finish by saying this. A lot of people and businesses are being smart by preparing for the worst and hoping for the best. This is always the best way to be and likely the reason so many are putting in place drastic measures. I hope for everyone the world looks a lot brighter as a result of all of this. The good news is we would still have a long way to go down before we see the world of Mad Max on the horizon.
Keep calm, keep safe, and keep pushing forward. We’re all in this together and we will all pull through this together. This is but a blip in the overall timeline that is humankind.
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11 个月William, thanks for sharing!
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4 年A great post William Stokes but do believe that there will be a seismic shift in employee attitude in terms of where and how they work. There is no one answer but the move towards increased remote working and localisation (hubs) will gather pace and be a serious consideration in management planning. I believe that this puts brands like Co-Space in a strong position and with a bright future as you look take build a regional network.
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4 年I'm naturally glass half full, but this infographic, produced as a warning to UK plc and other nations by the WHO and before the virus took hold in the UK, sticks with me. I suspect demands for services and luxuries, like unnecessary flights, for instance, may change significantly. The crippling recession - affecting millions now and yet to affect millions more - will hurt. Furlough is delaying the fate of 25% of the workforce. Record levels of unemployment and poverty will bite many unfamiliar with the concept.. We are certainly 'preparing for the worst', and also for the prospect that this may not be a one-off virus. That doesn't mean the end of the game - just new rules and more cautious participants. Our glass is about 51% full today and we are flexing to top it up. Those who can flex and spot new opportunities will thrive. Online is the new high street. Flexible working the new 9-5 and Zoom/Teams here to stay. There will be opportunities for freelancers and most of our friends are surviving and thriving, despite not benefiting from any government support. Because they up their work rate at home, not rely on profit to pay others, use tech effectively and cut their cloth and overheads to feed themselves for now.