How Publications the World over coping with the Pandemic Effect and what the Future Holds?

The pandemic situation came as an unpredictable event with lots of uncertainty. It has impacted every aspect of our life, be it health, work, profession, or the way we live. The publishing industry also got affected and the businesses saw a downfall. Most organizations have adapted well which is why an improvement can be seen the productivity and client satisfaction but it was hard for publications due to its process. However, the future holds a hybrid work model and many organizations have already adopted this. Now, the employees are expected to show up at the office at least twice a week and the publishing process is re-structured as required.

1. The Immediate Effect of Pandemic

As the country went into a lockdown, there was an immediate rush in people for stocking essentials. However, books were not seen as essential and therefore, were not stocked up. The pandemic forced people to stay indoors, with limited resources to entertain. The inability to buy books from stores diverted people to explore audiobooks, online portals.

Since online stores were allowed for delivering only essentials, the publishing industry came to a halt. The new releases were postponed and there was literally no sale of physical copies of books. However, after being badly hit, the industry started gasping for breath. eBooks and audiobooks kept people entertained but the demand for physical books was not met. Almost all publications houses saw a rapid increase in the sale of eBooks during the lockdown. However, publications had to find a way to deal with the piracy of digital books by offering discounts and free subscriptions.

2. The Unlocking Period

With the unlock process starting, publications the World over came back to cope with the effect of the pandemic. The sale of print books has started to be back on track. However, it does not indicate the reduction of digital consumption of books. While book shops are slowly re-starting their business operations, online stores have capitalized on the gap. Readers have redeveloped their taste for reading and are on the way to consuming books as earlier. Now, it is on publications whether they will be able to meet the demands and leverage the same.

According to a recent survey, employers in the publishing industry insisted to keep the office the primary workplace and they want the full-time return of employees to the office. They think that remote work during the pandemic period was an unpredictable event and it should not be seen as a new routine. When employees were asked, they shared in a survey they prefer fully remote or hybrid work. Since they have adopted well to manage work from home and are fully-equipped that ensures better productivity.

3. The Future is All About Reshaping Priorities

When it comes to witnessing the future of work, it seems like arriving ahead of schedule. Publications all over the world have reshaped their leadership priorities. Now they are more focused on empowering small teams. The members of these teams can be characterized by trust and integrity. By clarifying goals and strategy, publishing companies have made systematic efforts to bounce back. It will be an essential future trait of the way work gets done in companies.

Though norms are evolving and it seems a little critical is to strike a balance but publications are on the way to building long-term capabilities. In addition, the fight against pandemic has accelerated the formation of reliable partnerships and have opened new doors of possibilities. The publishing industry has started refocusing on digital products to have a sustainable business after the pandemic ends. So, the pandemic has fundamentally transformed the way the publishing industry operates.