The next few years will see a dramatic change in the way we look at business and all its aspects. Several emerging business trends are signifying the changes that are coming. The 4th industrial revolution is well on its way and soon we will be faced with a business environment drastically altered from what we had just a few years ago. Here are some of the trends that will be a driving force for these dramatic changes.
Employee Education as The Most Profound Business Trend of The Future
The concept of lifelong education has been growing in importance and impact it has on the way we see education as a whole. The days when learning was done at school and perhaps during the first few years on the job are long gone. The development of new skills will be a life-long pursuit for the majority of employees. The pace of technological development is simply too fast for schools to keep up and the majority of job-related education will be done after graduation. We already see this, as a large number of students are subscribing to online courses while still attending school.
The Evolution of Logistics
Logistics is one of those processes a lot of people like to talk about, but very few understand. The reason is that getting into is tedious and, frankly, boring. Yet it is a critical process that keeps the world revolving. Retail distribution makes up 10% of global GDP. The upcoming business trends will see this process made even more efficient than it is today. In the past, we have seen a sharp reduction in delivery times, going from a week to 24 hours, or even same-day delivery. Streamlined supply chain and the use of new technologies, like delivery drones, will try to shave off more time. Logistics on the industrial scale will be elevated to an art form, almost eliminating the need for onsite warehouses on factory campuses.
Remote Workforce an Important Business Trend
Among other things, the COVID-19 pandemic has shown us that working from home is far more doable than we have been led to believe by our bosses. There is something reassuring for them when they can see all their worker bees from their offices. It is just not the same when people are working from home. Despite their best efforts, which are ironically detrimental to their goals, remote working is entering the mainstream. The effects on increased efficiency and productivity are well-proven at this point and we have the infrastructure and the technology in place to make it happen. But if we all work from home, who will the bosses send to get coffee or pick up their dry cleaning?
The Gig Economy
After the colossal market crash in 2008, we have witnessed the rise of the gig economy. Since then, it has only gone up. In 2017, about 34% of all US workforce was engaged in it. In 2018, The Harvard Business Review estimated that some 150 million workers from both sides of the Atlantic are part of the gig economy. In the future, is easy to imagine a vast majority of workers as part-time and freelance employees. Companies like Uber and Lyft may have started the trend, but it is now a global phenomenon that continues to grow and spread. Independent contractors seem to be the future of all of us.
User Reviews More Important Than Ever
The oldest form of marketing was word of mouth. It has been with us since the beginning of time and it is still going strong. Its latest iteration is user reviews. The simple fact is that people like to state their opinion on things. Several sites, like Yelp, have taken advantage of it and created a very successful business model. In iGaming, the industry leader AskGamblers site has risen to prominence by gathering and publishing trusted reviews. Written by players, they allow any newcomer to quickly find their way to trustworthy casinos and avoid scams. Reviews are organized in several categories. It is easy to find out which casinos give the best bonuses or host games you are interested in. User reviews will have an even bigger impact in the future.
Business Trends in the Evolution of Office Space
Endless rows of cubicles are quickly becoming a thing of the past. Modern offices and other workspaces will incorporate various features essential for a healthy life-work balance of the workers. Things like inspiration centers and co-working hubs, previously seen only in Googleplex, will become a norm in all office complex. Many startups are already following this trend and many others will do so as well. This will also change the way we look at support departments, like accounting and human resources. They will no longer be viewed as somewhat separated from the main departments but rather as an integral and crucial part of the production process.
The economic landscape is changing dramatically right before our eyes. These emerging business trends are just a tip of the iceberg and those who plan on remaining competitive will have to do their best to embrace the changes that are coming.
