IT Business 2.0. How will the market look like after the COVID-19 crisis?

The meaning of building trust and taking care of business relationships

Everyone around us is wondering what the crisis caused by COVID-19 will bring. Companies from many sectors fire their employees while looking for savings. Many IT companies had to make such a move. The situation is difficult, we have to be honest about it. Nobody thought a few months ago that the flourishing IT market will change so dramatically.

I think this time is a valuable lesson for everyone. In times of a crisis, companies must look forward to their business partners. They need to earn the trust of the already established relationships and be open to new opportunities. If you can’t adapt, you will lose as only the strong and smart players may survive. Many businesses (not just the IT-based ones) have to change their current business model significantly. The market is already different now and it will continue to change.

Personally, I think that the key now is maintaining the trust and quality of cooperation with clients. Companies now need real business partners, not those who want to earn at all costs. Business relationships are and will be more important than ever before. It is the only way to maintain stability and open up for new business opportunities.

The end of the employee market – true or false?

It is an interesting question as many experts predict that the market will change so much that employees will no longer be able to set their conditions. Salaries will change, and companies will choose only the best professionals for cooperation. There may be something to it, although a lot depends on the business sector.

In the case of the IT industry, I’m sure that companies will have the chance to create even stronger brands thanks to the greater availability of specialists. Of course, if they survive this difficult period. In this way, they will prove their strong position on the market and become an even more reliable partner.

IT recruitment will become more comfortable from the employer’s point of view. I would, however, be far from saying that IT specialists will suffer. I think the market will continue to offer them interesting job opportunities. Nevertheless, they will need greater understanding of the employer’s capabilities. Companies will feel the effects of the current crisis for months.

It’s time for IT Business 2.0.

Some companies have made the best decision during a crisis – risk a lot and gain a lot. I will emphasize again that the crisis is a chance for your business to become even stronger. It’s a time to execute ideas, not create pointless drafts. Focus on what really works and brings real benefits to your business. Give up on the activities that are not necessary in these difficult times.

I have to admit that I look with particular interest towards the IT sector. Personally we also face major challenges related to the operation under the coronavirus threat. I have no doubt that we will soon be facing a new reality, which I call the IT business 2.0.

I am curious, how the market can change in the upcoming months in your opinion? Feel free to share your thoughts with me in the comments.

Read more:

– Need to use the common JS frameworks in your Rails app? Stimulus.js may be an alternative

– Time for a new reality. An era of remote work has started a month ago

– Web App Development: Why is Ruby on Rails a technology worth choosing?