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BusinessToday 30 April 2020

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30.04.2020 5 NEWS FROM PAGE 1 Joshua Zammit, founder of Novargo, said the study was commissioned to develop dif- ferent scenarios of how the fu- ture might look and highlight strategic initiatives which can be implemented to address those scenarios, as part of the work carried out by a Chamber ink Tank concentrating on the future. e data was collected through a survey between March and April 2020 and covers the views of people holding a range of dif- ferent and influential positions in private enterprise, the public sector and academia. e na- ture of the data does not make the findings generalisable but provides a snapshot and a se- ries of insights on how those re- plying to the questionnaire are thinking about how the World in general and Malta in par- ticular will look once the initial COVID-19 wave passes. Novargo asked participants to give their views on how they think things will change in the following areas: economy, work, business, government, educa- tion, health, religion, and soci- ety, social relations and lifestyle. Economy Respondents were asked whether they think the eco- nomic priorities will change once the coronavirus crisis is over. While some said no change will be made to the identifica- tion of new economic priorities, a few argued that changes will probably be short-term and that in the medium to long term the economy will return to normal, with the economic pillars re- maining what they are today. Data gathered showed that re- spondents believe tourism will take longest to recover, with some respondents expecting at least a two-year recovery peri- od. e study shows that respond- ents believe that the focus of the economy in a post-coronavirus reality will be on job creation and the sustainability of social benefits. Business and work e study shows that most re- spondents social distancing will continue to be observed even after the pandemic is over and employees will start to demand less crowded offices and more flexibility. Remote working, teleworking and the use of technology will become more widespread and more acceptable to employers. At the same time, work prac- tices which are currently taken forgranted because everyone congregates in an office build- ing will need to be revisited. Respondents agree that em- ployment law will need to be brought in line to cater for new work practices. e employer-employee re- lationship and the concept of control will shift with both parties understanding that it is more about trust, accountabili- ty, responsibility and achieving results than it is about clocking the hours at the office. Data gathered clearly shows that respondents expect "the way we do business will change". e rise of technology and dig- ital and the move to online will encourage more businesses to revise their business models and adapt them to the online world and e-commerce. Closer collaborations between businesses and an increased possibility of mergers especially within the SME space for better economies of scale and lower or shared costs could also be a new reality, according to the study. Businesses will rethink their supply chains and build proper contingencies in them, while redesigning the customer ex- perience to fit the new mode of doing business. Government Given the great demands this crisis has placed on Govern- ment and seeing the way its role and the people's expectations of it have changed, respondennts were asked how they thought Government would change the way it runs the country in a post-COVID 19 world. e study says that Govern- ment will rethink its strategic goals and seize the new oppor- tunities presented by COV- ID-19. ere will also be more re- strictions for non-EU workers. Respondents believe the fo- cus should switch to employers with a revision of benefits such as sick leave entitlements and increased optional leave. More transparency and ac- countability across Govern- ment will be demanded by cit- izens, with a greater emphasis on more commitment to good governance. Government will also need to provide more social services and to focus more on the en- vironment and be less bureau- cratic. Respondents said they expect- ed the government to enact leg- islation which forces companies to have funds for a rainy day al- ways on hand. Health Novargo's study shows that once the pandemic is over, peo- ple will start to focus on fitness and healthy eating and might actually make changes to their lifestyles to become healthier. People are expected to be- come more aware of the role played by good hygiene in mit- igating infection risks and to be more aware of the health prob- lems of others and act respon- sibly so as not to compromise other people. Spending (personal spending) on health-related items is also expected to increase. e data shows that certain behaviours which were adopt- ed in other countries but not in Malta - such as removing one's shoes before entering the house - may become more common. Demand for health and life in- surance cover is expected to in- crease while governments will spend more money on health at the expense of other sectors. e study also concludes that if the shock of the pandemic was strong enough, signs of in- creased paranoia in relation to health and personal wellbeing could become more common, with a possible increase in ob- sessive compulsive behaviours. Respondents believe the country will also need to deal with longer-term mental health issues which the stress of the current situation may be pos- ing and which are not currently fully recognised and/or under- stood. Education Education is one of the sectors which most respondents identi- fied as being very important to the future of the country. Hav- ing said that, it seems to be one of the sectors which was the slowest to adapt and take action to ensure continuation of ser- vice through online and remote service delivery. If there was anything which this pandemic highlighted was the unpreparedness of the ed- ucational system to move out of the classroom and change its method of delivery. Yet there seems to be general agreement that education cannot move entirely to an online delivery system since it is widely agreed that education serves to pro- vide more than just the teaching of subjects. It is important for both the social and cognitive development of its users as well as their socialisation process. e role of the school will re- main firmly part of out society yet the way schooling is deliv- ered needs to change, the study shows. Schooling hours should be ex- tended even if the hours spent at school do not need to increase. Respondents said that teach- ers should be more available supplementing classroom con- tact hours with online contact hours, while highlighting the need to teach and include par- ents to participate in education by providing them with more tools to be able to do this. Society, social relations and lifestyle Most respondents made a strong argument that no change will happen and that any change will be for the short term and non-permanent, possibly until a vaccine is found. e temporal component of the current situa- tion was seen by some as being a deciding factor on the level of permanence to the changes which we have experienced. Having said that the main argument supporting this no- change position was wholly based on the notion that people are social creatures, they are pre-programmed to live and interact in groups and as such this basic human and natural need will eventually overcome the imposed isolation which is external to human nature. Some said they expect people will experience fear of strangers giving rise to possible national- ism and racism. Disposable income will be re- duced and lifestyles will change, some respondents believe, with interpersonal relationships changing due to germophobia. But only a very few believe that what was custom such as hand shakes and hugs will be frowned upon and eliminated. Religion Respondents were asked: "Will the way we look at and practice religion change and if so, how?" Some said they expect the practice of religion and intro- spection to increase. People will become more appreciative of the role religion plays in their life but they will not change the way religion is practiced. Other respondents said that, until things return to normal, religion could gain in impor- tance. But once things calm down, people will forget all about it again until the next cri- sis or disaster strikes. Data shows that some re- spondents believe religion needs to adapt to the realities of society and should reflect these more closely. It needs to do this to remain relevant. Job creation and review of social benefits could be focus of post-pandemic reboot Beyond COVID-19 Preliminary insights about how our world might look April 2020 1

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