JobKeeper and JobSeeker ended on 31 March, leaving Australia’s businesses and individuals to stand on their own two feet. According to our Treasurer, Josh Frydenberg, the economy has benefited from stimulus packages worth more than $300 billion over the past 11 months, but, rather than spending up, we’ve managed to put away $200 billion in savings since the pandemic began.

Post-Covid, consumer behaviour is likely to be changed forever, which will influence the way we do business and indeed the direction businesses take.

Here are the clear trends coming through.

Buy Local

COVID changed buying behaviours for three reasons, those behaviours are likely to stick:

  1. We all saw local businesses – some owned by family or friends – go into decline during COVID – we saw the pain and we want to protect and support business owners so they don’t go through it again,
  2. Smart businesses managed to pivot, in the process supporting their local communities by supplying products and services we wouldn’t otherwise have been able to acquire during lockdowns. We’re grateful for this and we want to thank them for their loyalty, and
  3. Having been used to travelling – whether for work or pleasure, we’ve had to take a step back and we’ve realised life is pretty good in our own backyard… rather than jumping in a car or on a plane, we can buy local, do business via Zoom and holiday in our own region etc… and it’s better for the environment.

Work-Life Balance

Having been forced to work from home, many employees have realised how good it is to save time travelling, save money spent in restaurants and bars, and dress down… employers have realised productivity doesn’t decline, and, in many cases, it’s increased.

As a result, we’re going to see increasingly flexible workplaces and benefit from the ability to employ the talent we need – even if it’s not right where we’re based. 

Greater Creativity

While some people have lost their jobs, others have found themselves with increased time on their hands – simply because they’re not travelling. The business risk is that employees may start looking for opportunities to develop their own business… but it doesn’t need to be this way. By harnessing your employees’ creativity and empowering them with the tools they need to think outside the square, you can encourage them to innovate for your business. Ask yourself, ask everyone, ask often: What else can your people do or make to maximise opportunities with the resources you have?

Faster Decisions

COVID-19 forced some pretty quick decisions and for many, they worked. This has given business owners the confidence they need to embrace new opportunities, take on change and make faster decisions. WE can expect that going forward we’ll be making decisions that drive our businesses forward with less fear.

Need help finding the right staff? Contact the Ayers Group

One way to drive your business forward is to use contractors to offer the expertise and skills you need short term. Ayers Group is one of few companies that is approved by the Australian Department of Immigration to hire and on-hire international workers. Our experts can help you by advising on and arranging, temporary and permanent visas for international workers who have the approved skills you need.  We can even take your contractors on as tax employees of the Ayers Group, freeing you of the risks associated with visa sponsorship, and enabling your mobile talent to take on multiple contracts that provide the diverse experience they’re looking for. Talk to an expert from the Ayers Group today.

Reference

  1. https://www.news.com.au/finance/economy/australian-economy/what-end-of-centrelink-jobkeeper-means-for-australias-economy/news-story/3268d5ad6af30ce64c35c933849f4626

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