How will the pandemic transform the business industry in the future? This question has been pestering the world’s uppermost companies ever since COVID became a global health crisis. It’s feared (or hoped) that traditional workplaces won’t exist in the post-pandemic environment. Experts have proposed that working at offices may become a status symbol while emails will replace face-to-face meetings. What sort of trends will the coronavirus introduce to the business world? Some companies aren’t prepared for telecommuting to become an international phenomenon, whereas others have already expected norms to change drastically. Here, we’ve explained some major business trends that’ll take over in 2022:
- Data-Driven Decision-Making (DDDM)
In 2021, business decisions aren’t based on intuition; instead, they’re made after carefully examining the available data. How do companies bridge the gap between data-driven decision-making and effective leadership? They hire experts who have MSIM degrees. These experts use information both as a competitive tool and as a means to spur positive change.
Moreover, aspirants willing to join this field can opt for a Master of Information Management (MSIM) and make their career to the next level. This degree helps graduates translate information into detailed insights regarding marketing decisions. That’s how companies create products that are sure to succeed among target audiences.
- Cloud Storage
We’ve been witnessing enlarged business reliance upon the cloud. As the big data market grows, companies require better storage solutions to safeguard their sensitive information. Mostly they use computer security policy to ensure that their data is safe or secure. They can’t risk losing this data, so cloud-based technologies have become essential for business today. We observe small-sized businesses and multinational corporations leveraging this technology alike.
- Voice Search
Business owners shouldn’t neglect the importance of voice search in 2022. This technology will stay relevant in the post-pandemic business industry. Voice-enabled devices are already helping people conduct their desired searches conveniently. Therefore, it’s estimated that the voice-assistant-speaker market will exceed $4 billion by next year. Moreover, shoppers will increasingly purchase stuff using voice-activated gadgets. That’s why voice search remains one of the most crucial business trends now!
- Employee Priorities
Companies can’t disregard employees prioritizing flexibility over handsome paychecks anymore. We were forced to switch to work from home but grew fond of this arrangement gradually. Now, 39% of workers would consider leaving if their employers didn’t allow them to telecommute at least part-time. Related trends include reducing the typical workweek while rented workspaces stay curiously fashionable too. In short, the days of workers confined to their cubicles have become obsolete.
- Personalized Products
Today’s customers aren’t easy to please. However, personalized products bring some exclusivity to these products, thereby satisfying your average disgruntled purchaser! Also, over one-fifth of buyers are willing to their share for a more personalized experience. For instance, some companies permit customers to design their products digitally. It empowers people and enables organizations to gain their audience’s loyalty. This trend may become mainstream in the post-COVID business industry.
- Helpful Chatbots
Customer service will suffer from a drastic change in the future as chatbots dominate this industry. With companies exploring foreign markets, it’ll become essential to offer 24/7 support to people. So, integrating chatbots into customer service will simplify this facility. These robots can respond to repeated questions without exhaustion and will remain accessible to consumers. Chatbots can also communicate with thousands of clients while giving them answers catered to their individual needs.
- Social Responsibility
In the 20th century, companies engaged in communal activities to maintain their reputation. However, experts have warned that CSR (corporate social responsibility) isn’t just a PR stunt today. It’s been reported since 2018 that two-thirds of youngsters won’t work for unethical companies. Also, 90% of consumers will switch brands to support a good cause. So, you can be sensitive about what your business represents and how it’s perceived in the media. Reputation equals profitability in 2022.
- Reduced Emissions
Consumers also want companies to adopt eco-friendly policies and contribute to the betterment of our environment by reducing carbon emissions. Our industries have contributed to climate change in the past. Now, businesses are pledging to become carbon neutral by enhancing their sustainability. It includes companies going paperless, recycling their waste, and using biodegradable products. So, the post-COVID trends also include the compulsion to reach zero emissions for a greener planet.
- More Diversity
Your consumers aren’t represented by white males anymore! Diversity matters while recruiting new employees, publishing social media advertisements, or brainstorming better marketing strategies. A survey shows that one-third of consumers consider diversity when they contemplate buying from a company. And diversity directly boosts your profitability. When you listen to folks from different backgrounds, it improves decision-making mechanisms and promotes innovation!
- Contactless Payment
The compulsion to practice “social distancing” caused the decline of face-to-face interactions. Now, contactless payment has become popular because it’s healthier than using banknotes! It inhibits the transmission of microorganisms, thereby restricting COVID infections. As we enter 20222, contactless payment shall become the “norm” as it’s a fast, secure, and flexible manner of conducting business transactions. Your employees and consumers will increasingly demand such payment options too!
The coronavirus pandemic replaced numerous workplace traditions with digital “norms” that will remain relevant in the future. For instance, a McKinsey report suggests that companies have started to conduct most of their customer interactions online. Similarly, Europe witnessed an almost universal technology adoption that rose from 81% to 95% during the pandemic. Moreover, companies now are increasingly relying upon the cloud, mobile internet, and artificial intelligence. As voice search prevails, demands for personalized products have increased as well. These changes will survive the pandemic’s eventual death as business necessities in 2022. So, adopting these “norms” can help your company remain profitable.