Top 5 Business Trends to Watch in 2021 According to Surveys on Quizlet
2020 was a tumultuous year for businesses worldwide. Many companies witnessed a significant change and were left to navigate the uncertainty brought on by the COVID-19 pandemic. As we move into 2021, it becomes essential for businesses to take a closer look at the emerging trends to plan and prepare for the future.
Here are the top 5 business trends to watch in 2021 according to surveys on Quizlet:
1. Digital Transformation
The pandemic accelerated the need for businesses to adapt to digital transformation. Companies that previously hadn’t prioritized their online presence had to do so quickly. This trend is set to continue in 2021, where companies will be expected to maintain an online presence and streamline their internal processes.
Digital transformation has various benefits, including increased efficiency and productivity, improved communication, and better customer experiences. Companies that embrace digital transformation and prioritize technological advancements stand to be the winners in 2021.
2. Remote Workforce
Remote work skyrocketed in 2020 due to the pandemic. Companies were forced to pivot and adjust their policies to accommodate a remote workforce. According to a survey on Quizlet, remote work will continue beyond the pandemic, with almost 75% of employees stating that they prefer to work remotely.
Remote work offers cost savings, increased flexibility, and a better work-life balance. As businesses adopt this trend, they’ll need to ensure they have the right technology and processes in place to enable their employees to work collaboratively and efficiently from afar.
3. E-Commerce
The pandemic accelerated the shift towards e-commerce, with many retailers pivoting towards online stores as a response to the lockdowns. Consumers have become more accustomed to online shopping, and it’s expected that this trend will continue in 2021.
Businesses that prioritize e-commerce may benefit from increased revenue, more significant brand awareness, and better customer engagement. As such, it’s essential to prioritize improving your online presence and investing in digital marketing to stay ahead of the curve.
4. Social Responsibility
In 2020, social responsibility dominated corporate conversations worldwide, with companies coming under scrutiny for their actions. This trend is set to continue and intensify in 2021, with consumers demonstrating increased purchasing power through social responsibility.
Businesses that prioritize social responsibility are likely to benefit from increased customer loyalty, increased brand awareness, and improved public relations. As such, companies need to take a closer look at their internal processes and make changes to become more socially responsible.
5. Health and Wellness
The pandemic has affected people’s physical and mental health globally, resulting in an increased focus on health and wellness. This trend is set to continue in 2021, with businesses accommodating the increased focus on employee well-being.
Businesses that prioritize employee health and wellness are likely to benefit from increased employee satisfaction, improved productivity, and decreased healthcare costs. As such, companies need to invest in employee wellness programs and create a culture that prioritizes mental and physical health.
In conclusion, understanding these emerging trends is vital for businesses to plan and prepare for the future. By embracing digital transformation, remote working, e-commerce, social responsibility, and health and wellness, businesses can position themselves for success in 2021. As such, it’s essential to keep a close eye on these trends and adapt to meet the evolving needs of consumers and employees.
