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Insider UK
Insider UK
Business
Ken Symon

Lockdown leading to lasting changes in business new figures suggest

The coronavirus lockdown is leading to lasting changes in the way UK companies operate, according to new figures from the Institute of Directors.

In a survey of hundreds of business leaders, four out of ten said their organisation had made adjustments that they intend to keep in place after lockdown.

Increased working from home and a greater focus on digital services were common actions directors expected to continue in the long term.

Businesses have been innovating in response to the lockdown, with almost one in six of those polled reporting that they had launched a new product or service due to the circumstances.

The majority of these were related to the country’s medical response, from producing hand gel to procuring PPE.

Meanwhile, with digital skills being put under pressure like never before, more than a third of those surveyed were likely to use the next three months to pursue online training for their staff.

Malcolm Cannon, national director of IoD Scotland said: “It is both inevitable and encouraging that businesses throughout Scotland are responding to the current climate through innovation and adaptation.

“Scots are world-renowned for invention, so it comes as no great surprise that the changes made in reaction to Covid-19 will be put to good use after the challenge has subsided.

“The continuing drive by directors to improve both their organisation and themselves should reassure the Scottish public that we will come through this crisis not only better-informed but also better-prepared for any future challenges we might face.

“Boards should encourage as much online training as possible both for staff and directors to improve their knowledge and resilience, in preparation for the  post-Covid recovery and inevitable growth phases.”

In the survey conducted between 17 and 24 April 39 per cent of respondents said they had made changes to continue products and services that they intend to continue.

More than a third said they would be very likely (12 per cent) or quite likely (22 per cent) - said they would pursue online professional development courses for their employees.

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