"2021 Predictions" by Frestedt Incorporated

Pharma Tech Outlook: Pharma Tech Magazine

"2021 Predictions" by Frestedt Incorporated

Joy Frestedt President and CEO, Frestedt IncJoy Frestedt President and CEO,Frestedt Inc
As we move into the era of “Work From Home”; our business ethics are changing considerably. We must understand how fragmented each work day has become and how difficult training and education are from a distance. Some businesses are booming (home improvements, mail order and delivery facilities, vaccine creation and delivery, online services, etc.) while others are going out of business (traditional educational services, restaurants, box stores, etc.). Understanding and predicting the next move is not like the past. Both the pace and the time to payment have slowed. Small businesses are often pressed to earn enough to keep the doors open and large companies are cutting salaries and laying people off. Dedication and work ethic will need to re-emerge in a new model. This feels like a new industrial revolution, after many technology improvements were made. Shall we call this the “Plague Economy” and begin to understand our desire for SPEED in all things. Maybe this will become known as the “individual revolution” – as we learn how to cope with each person’s needs and fears. At Frestedt Incorporated we already provide customized services, but these days we are pressed to get ahead of our clients as they are reinventing teams based on individual participants strengths and weaknesses.

2021: Predictions

1) Workers will need to return to the office to be more effective in their work.
This may take years to unfold since workers may prefer to work from home without understanding the impact of this workplace change on the work they need to get done.

2) Salaried employees will become a thing of the past (just like pensions). Pay for service models will increase and competition will drive lower pay per hour for all services.

3) Economy will continue to collapse as we question the value of how to pay for each product we consume or how to charge for each unit of work we perform.

4) Quality will suffer as education continues to erode into the Internet of Things mentality.

5) Social innovations will unfold and bright places will be found as new ways to get together will be found. Zoom meetings will continue, but simple phone calls and 1:1 discussion will become increasingly necessary to get work done.

6) Demands for high quality services will increase and be further separated from the lay public.

7) Clinical affairs departments will struggle with training and execution of clinical research. Increased reliance on remote assessments will further strain data quality and interpretation

8) Regulatory services will continue at a slow/lagging pace until research and innovations resume in full force once the new clinical research paradigm (with increased remote care and greater involvement of the primary care physician) is more fully developed.

9) Quality and Engineering services will explode as companies try to find ways to rethink their quality systems to manage the new “at home” work force.

10) Frestedt Inc. will continue to offer clinical, regulatory, quality and engineering services with increased pressure to not only complete projects but also to train massive “work from home” team structures and to drive educated quality while coping with decreased employee education, experience and knowledge.
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