ACEC/NC Business Practices Committee
2021 Business Resources Expo - The Changing Landscape of Businesses
Join the discussion on how the landscape of our businesses have changed over the last year.
What does the Changing Landscape of Businesses mean?
Due to the NCDOT funding issues and the global pandemic, we’ve had to learn how to adapt to a changing work environment. This means:
- Working from home and the added distractions that go with it
- Video conferences internally and externally
- Vacant office buildings
- Less cars on the road reducing the amount of funding generated by the gas tax, only adds to the financial problems the state faces to keep our infrastructure intact
- Limit of available work and higher cost of materials is slowing down the industry and it is challenging to promote diversity and inclusion when the number of available jobs are limited
The workplace will no longer be simply an office where people come to each day and leave to go home each night. With major changes on the horizon, a need to reimagine the purpose of a workplace will arise. Increasingly, workplaces will become collaboration hubs to achieve common objectives, compared to just providing a place for people to work. Unnecessary overhead costs such as travel will be cut back, leaving no option but to enforce virtual interactions replacing physical face-to-face meetings.
Change in work habits will lead to urban transformation. With the changing landscape of business operations, the cost of commercial real estate will fall to coincide with the reduced demand. Once remote work becomes more of the norm, the need for corporate complexes diminishes but will open up new ways of utilization, whether it is space sharing, event hire or a collaboration venue. Along with many other trends, COVID-19 has accelerated the move for commercial real estate to become more adaptable, allowing industries to be reborn and rethink their place in their evolving surroundings.
Few organizations anticipate a full return to the 9-to-5 office. They expect their workforce to become a mix of remote, in-office or a hybrid of the two in the next two years. Managing these environments brings with it the risk of higher information technology costs and cybersecurity threats, as well as process delays and the loss of employee collaboration and innovation.
Come and be a part of the discussion to include topics in Human Resources, Professional Development, and Expense Management.