The coronavirus has changed many industries forever. Both winners and losers will emerge from the crisis: In the tech industry, you can expect both. Many companies in this industry were confronted with the massive production backlogs from China.
How has the technology solutions industry prepared for the end of the corona phase?
The restrictions of the lockdown are often reversed and a new ‘normality’ continues. In the Technology Solutions industry, various preparations have been made, which are heavily dependent on the technological solution offered and the size of the company.
Due to the high level of innovation in this sector, there are numerous up-and-coming companies and start-ups. In contrast to many large corporations and DAX companies, these smaller, dynamic tech companies have reacted very agile to the crisis. Instead of counteracting the lockdown with a shutdown and stopping or postponing all investments, they have proceeded here with the motto ‘Now more than ever!‘
This has put these companies in a very good position to emerge from the crisis stronger than before. The current is a good time to address internal issues. Be it technical investments to create a better infrastructure or a well-founded analysis of the bugs in their own products. Also the recruiting of new employees can already be useful to prepare for the post-Corona times in the best possible way.
“Of course, Corona will also leave its mark on the tech industry. Most technology companies are globally positioned and not all the resources needed are available in the respective country or region. If this is the case, a rethink will have to take place here. Our globalized world cannot operate as cross-border as usual in these times, ergo resources in all regions have to be built up more intensively in order not to lose potential business. It is particularly important to have key technical and customer-oriented roles that can maintain sales in such times,” explains Kevin Eckstaedt, Manager of the Technology Solutions business unit at Hager Unternehmensberatung, which specialises in executive search.
Before the outbreak of the pandemic, many companies were literally running behind the market. Many vacancies to be filled, important processes and investments in innovation fell by the wayside. The investment-happy companies were already actively preparing for the time after the pandemic during the entire lockdown phase in order to be able to get off to a more professional start with increased manpower.
Companies that have shut everything down at the beginning of the exit from the lockdown will not be able to react quickly enough in the start-up phase to withstand the competition. It is precisely this motto that drives start-ups to actively prepare themselves and continue to fill key positions and invest in technology.
“My recommendation is quite clear: pull your head out of the sand and look ahead! Currently, everyone, whether customer, supplier, partner or employee, wants to get back to the same level after the crisis! This dynamic will help us to quickly regain momentum together as an economy, both nationally and internationally, and work hard for the status quo. So now set yourself up as if you had to give 150 percent after Corona, because this will probably be the minimum! Every crisis also brings an upswing, as it was after the Second World War and as it will be after COVID-19”, Eckstaedt affirms.