The business world often changes at a fast-growing pace. In the current paradigm, the transformative trends are in overdrive. And businesses are being hit from all directions.
Disruptive technologies have played a significant role in the evolution of business and commerce. Regulations have followed. But nothing has been more disruptive to decision-makers than coronavirus.
Although the wheels of change were set in motion last year, 2022 will define the future of companies. As the dust settles, the “new normal” will come into full view. This is what we can expect to see.
Creating a Digital Culture
Reports indicate that CEOs are trying to imagine the office in a new way. McKinsey reports that nine out of ten executives are planning to shift operations into a hybrid model.
Even before Covid, employees were pushing for a work-life balance. A hybrid workplace gives them the flexibility and autonomy they demand. In 2022, managers will need to shift their focus to building a virtual culture that accommodates remote workers.
On the flip side, CEOs and business owners want to be assured work-from-home employees are maintaining productivity levels. A hybrid office relies heavily on cloud technologies and innovative software that allows for enhanced collaboration and communication.
If your IT infrastructure doesn’t support the “new normal”, your entire operations will be compromised. Disgruntled employees will lose motivation, performance will slump and profits will suffer.
What’s more, many businesses could be in danger of losing their top talent. Creating an all-inclusive digital culture, therefore, will be central to your success in 2022.
Employing Contractors to Fill Talent Gap
Futurists anticipate a talent shortage could result in and US$8.5 trillion shortage of unrealised revenue by 2030. One study predicts there will be 85 million potential jobs with unfilled vacancies. As a consequence, companies will need to reach out to remote contractors to fulfil their needs. Whilst third party contractors present less burden on your payroll, working with people from outside the company brings a host of other risks and challenges.
Data-sharing and security together with reinforcing trust are key points that will need to be addressed. The sharing economy is expected to grow to over US$335 billion in the next four years.
Employees Demand More From Employers
The world as we know is bringing a number of pressing issues to the surface; mental health, racial and sexual in the workplace and climate change arguably top the list.
Employees (and consumers) feel companies have an obligation to protect workers rights, their wellbeing and the environment. Businesses can no longer be seen as a machine for profit. Executives, therefore, have to strike a balance between investors and employees.
Some companies are sweetening the pot by offering employees incentives such as flexible work schedules, more paid leave, childcare and access to mental health support. Will this be enough to pacify employees?
With the world in the midst of numerous life-changing events, businesses are under pressure to adapt. Companies that fail to address the most pressing trends in 2022 may fail altogether.