The COVID-19 pandemic drove seismic-scale disruption. Even the chemical industry, which has experience working through one disruption after another for the last 10 years, is being challenged to quickly manage through tremendous change—and grasp fleeting opportunities. In fact, as the economy comes out of the pandemic the chemical industry is accelerating its transformation toward a new and more efficient operating model centered around the remote work environment.
The off-site work that became a necessity during the pandemic may end up being the norm, with benefits to both workers and their employers as well, including lower operating costs and greater access to talent. However, many employees may find themselves performing their duties in jurisdictions outside of their original plant or office location, posing tax issues at both the individual and the corporate level. To address these issues and capture the advantages of remote work, chemical companies need to think through the implications of dislocation and develop a comprehensive strategy to ensure their success.
The chemical industry remains at the heart of everyday living and enhancing human capital will be a key to navigating the latest trends and developments.