Two and a half millennia ago, a pre-Socratic Greek philosopher, Heraclitus, proclaimed, “The only constant in life is change.” As we stand on the precipice of a new world, Australians are right to ask what is our new normal? Will disruption bring about a categorical shift or merely act as a blip on the radar? One thing is certain—change is here and we have to adapt.
In previous pieces, my tone was retrospective, assessing lessons learned and actions taken to mitigate the COVID-19 threat not only on our organisation but also, that of clients. The next hurdle facing Australia will define the decade: what does our immediate future look like and can we budget/project/plan for it?
First things first: spot shutdowns. With the roll-out of the COVID-19 vaccine slower than initially anticipated and Australia favouring a suppression first strategy, the herd immunity timeframe is something of an unknown which means organisations should consider building in stop-start contingencies in business continuity plans. While the nature of work remains, the method of delivery appears destined to change. Digitisation and mobility are poised to dominate, static traditional desktops giving way to mobile laptops, notebooks and cloud technology. For some industries, on-site work is inescapable and with the air of spot shutdowns lingering, with social distancing orders in place, work scheduling, staff rotation and refining occupational health and safety provisions are paramount.
With new and green energy initiatives such as electrification, hydrogen and revisiting arguments for fourth generation (and beyond) nuclear programs, where is the Australian economy headed? The smart move is to follow the money and presently, green investment initiatives are exploding in popularity, green conversations dominating airwaves. That said, Australia is a strong commodities nation, mining our bread and butter. The nation is well poised to capitalise on its rich mining heritage and has positioned itself as the world leader in the initial stage of the battery technology supply chain. What about buy now, pay later and online transacting? 2020 saw an explosion in both which clearly, has implications for brick and mortar retail as well as lenders. Merchant fee structures, banking arrangements, establishing online store capabilities and strengthening internet security become bare minimum considerations. With international travel stifled and backpackers (typically) the engine room of seasonal work, will there be labour shortages in farming and agriculture?
As it stands, our new normal looks to be a little from column A and a little from column B. Every now and then, a major disruption tectonically shifts the ground beneath us and forces a response in how we lead our lives. How we adapt to the change defines our nation but as Heraclitus said, there’s nothing unusual about change so realise, you’re more than capable of weathering the storm, coming out stronger and more equipped to tackle the future your prize.
