5. Enabling Remote Work

Most small- and medium-sized businesses (SMBs) have taken concrete actions to enhance employee wellbeing during the COVID-19 pandemic. The most common and effective of these actions has been allowing for the flexibility to balance the new work/home life conditions. All things considered, the majority of SMB employees remain optimistic in light of the pandemic.

Most small- and medium-sized businesses (SMBs) say the COVID-19 pandemic will change the way their business approaches HR in the future, especially when it comes to improving employee morale and health/ safety. With the pandemic revealing some aspects of their current HR capabilities as lacking, SMB leaders recognize the need for additional HR support as they move forward.

While the majority of SMBs did have a formalized business continuity plan in place before the COVID-19 crisis hit, most of these plans did not specifically account for pandemics. Still, the majority of SMB leaders said their plan was effective in helping them handle the current situation.

The fallout from the COVID-19 pandemic has hit small- and medium-sized businesses hard. Even more than finances, the uncertainty that SMB leaders face has been the most difficult challenge of all. Fortunately, in the face of this struggle and uncertainty, SMB leaders feel supported by both their colleagues and their local community. 3 in 4 SMB leaders (77%) agreed that “Dealing with the pandemic has been the most difficult challenge my business has faced.” While many SMBs are struggling, a nearly equal number say they are thriving (20%) versus struggling badly (19%).