Top 2022 Business Trends
For nearly two years, the way we’ve been doing business has undergone a major disruption. The COVID-19 pandemic has caused serious upheaval for many organizations and a shift in where and how they operate.
According to a CNBC survey, nearly half of employers have focused on developing a hybrid workplace. How these changes will impact businesses remains to be seen.
Here are some other business trends we expect to see more of in 2022.
Ten business trends for 2022
A new year brings a feeling of a fresh start and the latest trends for businesses. Gaining an understanding of these trends helps companies adapt to stay productive. Here are the top 10 business trends you can expect in 2022.
1. Empathetic employers
One survey found that 83 percent of employees feel burnt-out and emotionally drained at their workplace. While mental health issues have been a concern for employers before the pandemic, COVID has exasperated the situation. The best way to respond to the problem is to empathize with employees. In other words, sincerely consider where they may be coming from and the challenges they face. And apply the golden rule: Do unto others as you would want them to do unto you.
2. Influencer marketing
What began as a social media trend years ago is still growing strong. If you don’t already have online influencers helping you market your products or service, 2022 is the year to get some. Platforms like Instagram and TikTok are still popular with consumers, and it’s a great way to show off what you have to offer. Or rather, ask your influencers to do it.
3. Double up your recruitment efforts
An advantage of hybrid and remote workplaces is that they allow you to attract and hire top talent from anywhere in the world. In 2022, your company should focus on improving recruitment efforts so you can find and keep the best in their class. Consider marketing your company to potential employees in the same way you do for customers. Tell your brand story and demonstrate your values. These can make all the difference when you want to attract the right type of employee to your organization.
4. Flexible schedules
The pandemic has shone a light on the struggles that employees with children face. And organizations that respond to that by offering flexible schedules will cultivate a workplace filled with loyal, dedicated, and productive teams. When you show your employees that you understand their challenges and are willing to help them, it creates a positive atmosphere in the office.
Collaboration never goes out of style, and you should aim to make 2022 your year to network your heart out. There are many benefits to getting to know others, including acquiring business referrals, hearing the latest news, learning from others, and creating successful business partnerships. Join local business associations and get to know other owners in your area. You may also find virtual groups that help you expand your list of contacts and allies.
6. Digital marketing
If you haven’t already refreshed your digital marketing strategy, 2022 is the year to take it on.
Online advertising has many benefits over traditional methods, including the cost. Smaller organizations can compete with larger corporations in social media and SEO techniques. While bigger companies may still have more money to spend on marketing, digital marketing methods can level the playing field in some tangible ways.
7. Tech mastery
Tech tools can benefit your business in several ways, but only if you put them to work for you. From social media to productivity tools, make 2022 the year your organization becomes a tech master. It’s important to remember that the tech world changes fast. To stay on top of it all, you’ll need to be willing to try out new platforms and software. While that may sound expensive, it doesn’t have to be thanks to the cloud.
Gone are the days you need to buy the software and install it on your systems. Many companies offer a free version of their programs, like Grammarly and Slack. So, you can give an app a spin in the cloud to see if you like it before you commit.
8. Employee development
Keeping your employees happy at work will be another trend for businesses in 2022. Through employee development initiatives, such as mentoring, coaching, or additional training courses, you can do this. An extra tip is to align business goals and employee development goals. For example, if you want to boost diversity and inclusivity, consider mentorship for minority employees.
9. Inventory management strategy
The reality is that supply chain challenges are going to continue into 2022. So, you’ll need to have a plan to adjust. This may mean sourcing more locally or stocking up, so you don’t run out. It all depends on what will work best for your business. You’ll also need to become more agile to deal with stock shortages or supply chain issues throughout the year.
Hybrid workplaces will involve some major adjustments in thinking for many businesses. It will necessarily include the decentralization of business operations. Some companies have already started to employ a hub-and-spoke model with a centralized urban office and several satellite ones. Amazon, for example, has begun purchasing property in small cities like Dallas and Detroit.
If you’re looking to downsize your business in a decentralized move, you’ll need business liquidation services.
For more information about our services in Ontario, call Michaels Global Trading at 1-888-902-7531 or contact us here.