By
Chimamanda U. Martha
February 13th, 2024
The demand of employees for more flexible working arrangements is helping companies see the need for more inclusive, collaborative, and hybrid work environments for staff.
An executive at Zoom has noted that Zoom Video Communications Inc (NASDAQ: ZM) will maintain its relevance in the post-pandemic period due to the changing nature of the workplace.
With people forced to stay indoors because of the pandemic, many resorted to the use of Zoom for school, work, and general interaction with others. However, as people returned to work, the company’s growth slowed. From a 54% high, the growth crashed to just 35% by the end of Oct. 31 (in comparison with the figures from the previous year. Earlier in September, the company’s stock crashed by 17% on one day.
However, Ricky Kapur, head of Asia Pacific at Zoom, believes the numbers tell a different story. Kapur pointed out that Zoom had grown from zero to 2 million users in less than 2 years. He also opined that the embrace of a hybrid work model by companies will serve the interest of the company.
Why Zoom Will Keep Its Positions Post-Pandemic
To support his assertion, Kapur said, “I think there are three big shifts that are happening post-pandemic that businesses are investing in and that’s spurring our growth and relevance.”
Kapur noted that the demand of employees for more flexible working arrangements is helping companies see the need for more inclusive, collaborative, and hybrid work environments for staff. Again, he pointed out how that the demand of consumers for more convenience also meant companies needed to redefine how it interacts with customers.
Lastly, he noted that tech-inclined companies are creating innovative platforms related to health tech and educational tech to reach new consumers.
“Whether it’s a retail experience, the ability to live feed into the store and speak with a live person – see a product, have a real conversation, and then make a purchase decision. Consumers are expecting that from companies,” he said.
Apart from its big-money moves, the company recently joined the Global Internet Forum to Counter Terrorism (GIFCT) to fight terrorism and violence. On Friday, the company’s stock closed at $199.74 up 9.51%. Now in the pre-market, it is also in green.
