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Reasons to be positive in 2021

In the 14th Century the Bubonic Plague decimated half of Europe’s population. Major socio-economic change followed; the invention of the printing press made long distance learning and communication possible and ultimately led to the scientific and industrial revolutions. While COVID-19 is unprecedented in our time, the bounce back is evident in history.

Reasons to be positive in 2021.

COVID Certainty

Predictive models built from early vaccine data suggest herd immunity is most likely in Q3 this year with most forecasting a drastic return to normality in the Spring. Having certainty creates confidence, drives action and enables decision making in business. The vaccine has already had a positive impact on global stock markets with some airline groups up 40%.

Growth

A recent study of over 1000 small businesses revealed that 76% have introduced a new service as the result of covid-19. New services include online bookings, home delivery services and online video consultations or viewings. Over three quarters have also introduced new ways of communicating; instant messaging, Whatsapp, and video calling. These changes will create lasting growth for business who will be able to reach more customers, more efficiently in 2021.

Brexit

Whether you’re a leaver or a remainer, the outlook for most is more positive now than it was before the Christmas Eve agreement. Tariff-free trade, reduction in technical barriers to trade, access to EU government procurement contracts and no restrictions on road haulage or air travel will be welcomed by the majority of business leaders.

Diversity

Inequality is a humanitarian tragedy first and foremost. It’s a tragedy in business too as we know that companies who embrace diversity, financially outperform those who don’t. Why should businesses feel positive about 2021 then? Nike set the benchmark for diversity strategy back in 2015 but awareness raised by the BLM movement in particular and the return of gender pay gap reporting for example are driving wholesale change now. Businesses who address diversity can look forward to attracting the best talent, improving company culture, more innovation, consumer loyalty and greater profits.

Community & Culture

This year, the pandemic and issues related to social injustice have highlighted a prevailing sense of community. Google launched a campaign to support 1000 local businesses and studies show a 28% increase in business referrals in 2020. Business leaders appear more conscious of their wellbeing strategies and even in the most boisterous work environments, we’re asking ‘how are you doing?’ Having conducted hundreds of free business consultations since March we’ve been struck by the flexibility shown by employees and sacrifice shown by employers and the overwhelming sense of mutual value heading into 2021. 

If a free consultation with our expert team on any HR or employment related issue would be of help to your business in moving forwards into what we hope is an optimistic future, please don’t hesitate to reach out to me directly at tdurance@lexleyton.co.uk or legal@lexleyton.co.uk

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