23 Dec Business Trends for 2022: What Can We Expect?
Business Trends for 2022: What Can We Expect?
As 2021 draws to a close, we look at how the nation’s businesses will change over the next year, with insights from leading organisations. What are the business trends for 2022?
1. Technology Advances: The Cloud for Businesses
Over the past couple of years, the latest technology has enabled us to keep working and keep building our businesses from wherever we need to be. As Deloitte points out, when it comes to hybrid businesses, technologies can support our well-being, bring together workers, and push collaboration.
In particular, cloud technologies stand out among the technology business trends for 2022. As explained by Manish Mittal of OpenSource Technologies Inc:
“If you run a company with employees located around the globe, cloud technology is a great way to make applications available to your employees that enable them to collaborate and be productive.”
Research supports these ideas, too. According to a recent Accenture report, those who take advantage of the cloud can see 2.3x more gains across employee productivity, collaboration, and communication.
2. Sustainability and Social Responsibility
It seems improving ethical practices isn’t just a business trend, it’s here to stay. A recent report about the future of work from PWC included the “Green World” as one of three distinct types of businesses people want to build and work for.
The report explains that 65% of people around the world want to work for an organization with a powerful social conscience. These employees benefit from ethical values and a work-life balance in return for loyalty towards an organization that treats them well.
These Green World companies are described as:
- Open, trusting, collaborative learning organizations
- Playing an important role in developing their employees and local communities
- Having strong control over their supplier network to ensure corporate ethical values are upheld
- Supporting the real economy
- Keeping family-friendly hours and creating a new employee value proposition that isn’t solely reliant on pay
And, as Forbes points out, sustainability and resilience are linked. Resilience means adapting and surviving in the long term, which is critical in the age of conscious consumption.
3. Mental Health Support
While trend isn’t the right word when it comes to increasing support for the mental health and well-being of employees, it certainly is a change that we might see in the next year.
According to Bupa’s Global Wellbeing Index, businesses are predicted to increase spending on mental health support at work by up to 30% in 2022. But how can employees support their teams in the workplace?
The World Economic Forum explains several steps businesses can take to create a healthy workplace, including understanding the opportunities and needs of individual employees and having an awareness of what other companies have done effectively.
4. Hybrid Working
This is a topic that has been at the forefront of many new workplace policies. From large companies like Spotify to small businesses, employers are adapting to what their teams want. For 83% of us, that’s a hybrid model of working.
At first, it might seem like a challenge to find the right balance and create an environment that promotes collaboration and innovation no matter where employees are. However, the benefits of allowing employees to work in a way that suits them are endless.
In fact, focusing on a mix of physical and digital is so popular that marketers employ the term phygital.
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