The COVID-19 pandemic has indelibly transformed the way we live, work, and conduct business globally. For the Maldives, a country that thrives on tourism, trade, and small-scale entrepreneurship, the pandemic has been both a disruption and a revelation. As we navigate through the post-pandemic landscape, there are several lessons to be learned from the ‘new normal’, lessons that suggest some of these changes are here to stay, and perhaps, should stay. In the corporate world, these shifts have fostered more flexibility, resilience, and sustainability, laying the foundation for a future that looks markedly different from the pre-pandemic era.
Remote Work and Hybrid Models: A Permanent Fixture
One of the most significant shifts that emerged during the pandemic is the adoption of remote work and hybrid models. In the Maldives, where many corporate entities are based in capital proved that physical presence is not always necessary for productivity. Companies discovered that employees could deliver results from their homes or distant locations, and in some cases, productivity even increased. According to a McKinsey research, 80% of people working from home reported enjoying the arrangement, with 41% indicating they were more productive than before, and 28% stating they were equally productive. This trend aligns with global experiences where office attendance has stabilized at about 30% below pre-pandemic levels, illustrating the growing acceptance of remote work as a viable model.
Embracing this model has brought numerous benefits. Reduced overhead costs, less time wasted on commuting, and the potential for a more balanced work-life environment have all contributed to a more efficient workforce. For instance, organizations that shifted to remote or hybrid work models reported a significant reduction in real estate costs, potentially up to 30%. From a corporate perspective, businesses should continue to build on this momentum by integrating flexible work policies and hybrid models as a part of their standard operations. Not only does this accommodate employee needs, but it also attracts a broader talent pool, including those who may not be located in the capital but have the skills and expertise companies need.
Digital Transformation Should Not Be Just a Buzzword
The pandemic accelerated digital transformation in the Maldives, compelling companies to innovate rapidly. Businesses across various sectors, from tourism to retail, had to adopt digital tools to sustain operations. E-commerce platforms saw a surge, contactless payments became the norm, and virtual collaboration tools became essential.
Post-pandemic, the need for robust digital infrastructure is more apparent than ever. Companies that continue to invest in digital solutions, automation, and AI can ensure not only their survival but also their growth in an increasingly competitive market. The transformation is not merely about adopting new technologies but about reshaping business models to be more customer-centric and agile. Retaining this momentum will be key to thriving in a future where digital-first is the expectation.
The New Standard of Care
Another key takeaway from the pandemic is the heightened emphasis on health and safety. In the Maldives, where hospitality is a cornerstone of the economy, stringent health protocols became vital to ensuring the safety of both tourists and locals. Businesses implemented enhanced cleaning procedures, contactless check-ins, and digital menus—measures that provided reassurance and built trust.
Rather than seeing these protocols as temporary inconveniences, companies should view them as a new standard of care that can differentiate them in a competitive market. Continued emphasis on health and safety can create a more sustainable business environment, particularly in sectors like tourism, where customer confidence is paramount.
Mental Health and Well-being: From Periphery to Priority
The pandemic also brought mental health and well-being to the forefront of corporate discussions. With the blurring lines between work and home, the stress of isolation, and the uncertainty brought by the virus, employee well-being became a crucial concern. This period highlighted the need for companies to take a more holistic approach to employee care, incorporating mental health support, flexible working hours, and fostering a culture of empathy and support.
Going forward, the corporate sector in the Maldives must continue to prioritise mental health as a core component of their human resource policies. Offering counselling services, creating support networks, and ensuring a balanced work culture will not only enhance employee satisfaction but also boost overall productivity.
Sustainable Practices: The Green Path Forward
The pandemic showed the fragility of global supply chains and the importance of sustainability. The reduction in travel and consumption during lockdowns led to temporary environmental benefits, showing the positive impact of reduced carbon footprints. For businesses in the Maldives, particularly those in tourism, this was a wake-up call to adopt more sustainable practices.
The ‘new normal’ should not mean a return to the previous ways of overconsumption and waste. Instead, companies should double down on sustainable practices, from reducing single-use plastics to adopting renewable energy sources. A shift towards sustainability can lead to long-term cost savings, brand loyalty, and a more resilient business model that aligns with the global push towards greener economies.
Rethinking Business Continuity Plans
The pandemic exposed the vulnerabilities in traditional business continuity plans. Many companies found themselves unprepared for a crisis of this magnitude. Moving forward, businesses must focus on creating more robust continuity plans that include not just financial strategies, but also digital resilience, flexible supply chains, and agile operations.
Companies in the Maldives, especially those reliant on tourism and imports, should use this opportunity to rethink their risk management frameworks. Diversification, both in terms of markets and supply chains, and investing in technology that enhances operational flexibility can make businesses more adaptable to future disruptions.
A Future Forward Approach
The lessons learned from the pandemic have shown that while the world may eventually ‘move on,’ it should not ‘go back’ to the old ways. The changes driven by the pandemic, remote work, digital transformation, health and safety standards, mental health prioritisation, sustainability, and robust business continuity planning are not just reactive measures but proactive strategies that can reshape the future of corporate practices in the Maldives.
By embracing these lessons, companies can build a more resilient, sustainable, and inclusive business environment, better prepared for whatever challenges the future holds.
