The pace of change since COVID-19 has been unrelenting and is bound to continue. Here are the top business trends for 2022
The Pandemic changed just about every aspect of life across the United States and the World. Yet, few things have changed as abruptly as the speed at which change takes place. In the past two years, we have seen significant climate change, digitization, shifting political and economic power, not to mention profound societal change. With that said, we can expect the rapid pace of change to continue. As a result, businesses need to learn to adapt to change even quicker. With that said, what are the top business trends for 2022?
What are the top business trends for 2022?
These six themes are unfolding in corporate settings but will soon trickle down into small and medium-sized businesses.
It started with the Pandemic, followed by politics, the economy, and finally, society. The first trend is resiliency, the ability to withstand or recover quickly from difficult conditions. Before COVID, the ability to adapt to change was sufficient to survive. Post-COVID, one must be resilient to thrive over time. Any company that is not resilient is likely to have problems in 2022, especially with so many headwinds blowing in the face of American small businesses.
Resiliency is about planning for the unexpected, expecting the worst, and having the resources to change direction, quickly. It is about being responsive to the needs of the marketplace immediately and decisively.
2.The rise of robots in the workplace
In 2021, many business sectors are experiencing labor shortages. In 2022, robots and artificial intelligence (AI) systems will emerge to perform tasks traditionally performed by human beings.
It is already happening across industries, from marketing to food service workers. This change raises several critical questions for businesses, such as striking a balance between clever robots and human intellect. What functions should be delegated to machines? Which roles are best for humans? Automation will undoubtedly influence every industry, so business leaders must prepare their companies – and their employees – for the changing nature of labor.
3. The changing face of work
This is a second theme about the changing face of work. For example, COVID-19 has shown that working from home works. As a result, more employers offer remote work, with many more considering it an option.
Both employees and employers benefit from remote work. For example, employees may benefit by eliminating commute times and the ability to work from home. In turn, employers may benefit from lower costs due to employment arbitrage, hiring “skills” in another part of the country than they would pay “locally.” They may also incur cost savings by not needing to provide office space or desks.
Contract hiring and “gig workers” is a trend that will continue as more companies embrace hiring contract workers over permanent employees. In addition, many of these contract workers are working remotely.
4. Organizations that are flatter and more agile are the fourth trend.
Remote employees and contract workers don’t reasonably require the management and overhead of conventional employees. Additionally, companies need to be much more agile to respond to the demands of their customers and industry. As a result, organizational structures are much flatter and leaner to respond better to change and react to the changing nature of work.
One of the things that the Pandemic taught us is just how precious life is. This is reflected in the workplace, where employees seek a work-life balance and a better quality of life. We see this in large corporations where people opt for less material goods and money for more time and richer experiences. It is also reflected in our relationships.
People are looking for deeper personal relationships with other people and with brands. They yearn for connection and meaning in their lives. They seek authenticity in their own lives and in the lives of those they connect with, including brands.
Authenticity is about fundamental human qualities like reliability, honesty, empathy, compassion, humility, and vulnerability. It helps us form human relationships. We want companies and their management to stand for something other than profit. This is more important as we become more divided as a society.
6. Have a purpose
This trend is related to authenticity, described above. Having a purpose is about ensuring your business exists for more than making as much money as possible, whether for a more significant cause or providing your customers with the best experience possible. It is about having a reason to wake up in the morning and do it again, despite the obstacles before you.
While the pace of change these past two years have been unrelenting, it is bound to continue into 2022 and beyond. The best you do to cope with this change is to prepare for it by planning and securing the funds to finance this change. Zip Capital Group can help. As small business owners ourselves, we know what you are going through and we are here to help. Contact us today or call 800-795-3919 to speak to a small business specialist about your funding needs.
Hopefully, our list of top business trends for 2022 have given you something to think about and helps you navigate the uncertainty that is our economy and society.