Staying up to date with the latest business trends can help companies increase their profit as well as customer satisfaction, and improve their performance among the competitors. Since they can play a key part in the organization’s success, let’s take a close look at those that will rule the business industry for the next couple of years.
When the pandemic was at its peak, most Americans who had jobs that could be done from home, worked only from home. Between 2019 and 2021 the number of people who worked remotely tripled. There are multiple benefits of working from home, financial being just one of them. Therefore, it is no wonder that most people who had the opportunity to work from home are now resistant to get back to the office full-time. In fact, according to research, most remote workers would rather look for another position in the company if asked to come back to the office, while half of workers would even tolerate a pay cut just so they could work from home.
On the other hand, businesses do not seem to be so keen on remote work, mostly because they do not have confidence in employee productivity when it comes to remote work. To resolve this issue, many companies are using monitoring tech to keep their eyes on worker productivity. This includes screen monitoring, keystroke recording as well as facial recognition programs. State-of-the-art HR software also makes managing and engaging remote workers far easier. If you are looking for the ideal HR software for your business, make sure to check Matchr.
Significant growth of e-commerce
E-commerce was already on the rise before COVID hit. But the pandemic helped e-commerce sales skyrocket. For instance, Disney announced in early 2021 that it will close more than 60 stores in North America and focus more on online trades. Although their growth has slowed down after the pandemic, e-commerce is still on the rise. In fact, many companies are launching new online trading opportunities every day. Today there are over 4 million e-commerce companies in North America alone.
Enhanced data collection due to 5G development
It can be said without a doubt that the development of the 5G mobile network has the potential to drastically change numerous business operations. This type of network features higher data speeds and much higher reliability. Today, 5G is available in several hundred cities across the US. This network is important for any business that wishes to offer new services and stand out from the competition. With this type of network, businesses will be able to collect much more data from numerous resources much faster than before.
Thanks to 5G businesses will be able to utilize AI and automation. Right now BMW is using 5G and AI to locate machines, cars, and parts in the factory in real time. Since this network has a max speed of one gigabit per second, it opens a lot of doors for various industries. For instance, healthcare providers can instantly get their hands on data-intensive patient records from devices located anywhere in the hospital. They can also monitor their patients remotely. It is also expected that the agribusiness industry will take advantage of the 5G network in the upcoming years. Connected devices could be used to monitor soil conditions and keep pests under control.
Business trends affect how we work, communicate, and experience the world. These trends will always evolve, and staying on top of them is the only way to keep up with the competitors.
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