HOW COVID-19 WILL IMPACT THE IT INDUSTRY?

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The fact that COVID-19 will have a life-changing impact on everything, be it nature, economy, jobs, or the normalcy with which we lived every day is a given. One of the major industries that are expected to be influenced by the pandemic is the IT sector.

Coronavirus has led to the immediate need for lockdown in various countries around the world and industries like IT are now expected to be at a loss; unless they take effective steps to go with the flow and adapt to the changes. During times like these, the management powers of the higher authorities along with the efficiency and flexibility of the staff would be put to the real test.

In the future, the employees of the IT industry can expect to see a decrease in business and job opportunities. There might even be cases of people losing their current jobs and delays in salaries for the purpose of cost-cutting as no one knows how long the pandemic and its after-effects may last and how much the companies can afford and work.

Some IT companies have acted fast to turn the situation into their favor and introduced online ordering systems for their users to quarantine without worrying about their daily needs. The restaurant industry has been one of the quickest to adapt itself to the changes by initiating the use of mobile applications as soon as the lockdown began so that they can encourage their users to start placing orders and paying online and deliver the products safely to their doorsteps. This module has now also become popular among retail stores, medical stores, grocers, etc.

While some brands are fearful that they might have to shut down completely due to a low economy, the others are still weighing the scales and taking the risk, always ensuring that they have a proper escape plan prepared in advance. There are certain advisable steps that can help various IT sectors to achieve their goal and get through COVID-19 victoriously. Some of them are-

  • Reviewing current strategies according to the present scenario
  • Willing to change course whenever necessary
  • Managing stocks efficiently so that they last long
  • Creating a plan and staying updated on the latest trends and situations
  • Coming up with effective work from home techniques and ideas

The IT companies are going to have a struggle period but this will also determine how well their crisis management works and how good they are in converting adversity to opportunity. This will be an experience that will definitely shape the course of the world economy when we will get out of it in the near future and the IT industry has an obviously large role to play in it.

How we can help?

Y the Wait is an online digital waiter application that has collaborated with various restaurants, retail stores, pharmacies, corona relief organizations, etc around the world to help the users order their necessities from their home, pay online, and donate as well. To know more or sign up with us, visit www.ythewait.com.

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