Top Business Trends to Adopt Today

It may seem these days to be all COVID-19, all the time. There is no question that the global pandemic has changed the face of business – how deep and how long those changes last remains to be seen. However, it’s important we remember that COVID hasn’t stopped other emerging trends from marching forward. 

There are really interesting trends taking place that will have a powerful impact on your company, your industry and the market. It may be tempting to only think of the future in terms of changes brought about by COVID-19, but that would be shortsighted. Some of the most exciting technological advancements and new ways of doing business will prove far more disruptive if you work now to incorporate them into your overall business strategy. 

Read on to discover four particularly exciting trends and how they might impact your business for the better.

Growth in automation

Automation today comes in many different forms. Digital transformation, cloud services, AI and machine learning, IoT and robots are just some of the ways businesses can jump into the automation trend. 

The role of automation in business has changed as well. It used to be seen as a way to eliminate human talent in favor of increasing the bottom line. Today, however, automation is focused more on integration into existing systems, and helping humans do their job with better information and improved functionality. While it’s true that automation can eliminate some tasks, the flip side is that it opens the door for new and different opportunities. It also allows organizations to derive the most value from their systems, processes and human talent.

In fact, a recent survey demonstrated just how far we’ve come in embracing workplace automation. A full 61% of respondents said workflow automation helps improve the customer experience, 59% reported automation leads to higher productivity, and more than 50% use automation to enhance knowledge sharing within their organization.

Virtual environments

The global pandemic has made the trend of virtual environments come alive in unexpected ways. With workers all around the world forced to isolate we’ve discovered just how much can be done virtually.

Virtual environments include much more than Skype and Zoom meetings, however. Virtual reality is moving beyond its initial gaming and entertainment use cases into the everyday, real-world business scenarios that include everything from workforce training to retail, marketing and design. 

Onboarding has become a particular favorite use of virtual environments, especially during COVID-19. When new or existing employees need to train or be introduced to new business processes, virtual training and onboarding can be more time and cost-effective.

Influence of data

There are so many data trends taking place in the business environment that this topic could warrant a post all on its own. Thanks to massive leaps in everything from cloud computing technology to IoT devices to AI-enabled analytics, the data available to businesses is staggering.

If your organization can harness that data, and use it to inform better business decisions, you’ll be ahead of the curve. The purpose of data is multi-pronged – everything from a better understanding of your customers, delivering more engaging products and services, and improving operational efficiency. 

It’s not just enough to collect data, however. That data needs to be actionable. StrategyBlocks was built on the idea that the better accessible and insightful the data, the more productive and actionable it becomes. Our dashboard approach makes it easy to see how projects and strategies are playing out in real-time, and how they are impacting business outcomes. 

Spotlight on diversity

Finally, a recent spotlight on social injustices and the Black Lives Matter movement has placed a greater emphasis on delivering more than just promises when it comes to diversity in the workforce. This is a trend we can all adopt, and quickly. 

There are countless stats that highlight the benefits achieved in the workplace from a greater diversity of thought, background, culture, gender, age, ethnicity and even physical and mental abilities. As companies evolve there is a stronger emphasis on moving away from homogeny and embracing the opportunities to be challenged by different approaches and ways of thinking. 

While the benefits are clear, fostering a truly inclusive environment has its challenges. Implementing effective diversity and inclusion policies requires thoughtful introspection and a willingness to overcome personal and systemic biases. It also can take time and additional effort, but it is an effort that pays off in spades over time. Make this the year that your company embraces diversity and watch as the benefits start to show.

We’ve just scratched the surface of some of the exciting trends taking place in the business environment right now. Which ones are on your radar for the future and which are you working to implement now? Let us help you keep your strategy successful – contact us and we can set you up for a 30 day trial today.