Top Global Business Trends to Watch Out for in 2021
2020 was a year of disruption and change in every aspect of life. The pandemic has transformed the way we work, live, and communicate with each other. As we embrace the new year, businesses all over the world are bracing themselves for challenges as well as opportunities that await them. In this blog, we will highlight the top global business trends to watch out for in 2021.
Remote Working is Here to Stay
The pandemic has made remote working a new normal for businesses all over the world. As companies embrace this new trend, they’re finding many benefits such as cost-saving in terms of rent, increased productivity, and happier employees enjoying a better work-life balance. As remote working has proven to be successful, companies will continue to adopt hybrid models of remote and in-person work. This trend might affect commercial real estate as businesses can save on office rentals and invest in technology that helps them hire and manage employees virtually.
The Rise of Digital Transformation
As the world went into lockdown in 2020, a shift towards digitalization took place. In 2021, digital transformation will continue to expand and accelerate across industries. The pandemic has forced companies to fast-track their digital transformation to stay relevant and competitive. The trend towards automation, artificial intelligence, cloud technology, and big data will continue to grow. As businesses embrace technology, we can expect more online marketplaces, e-commerce, and fintech to emerge.
Purpose-driven Businesses
Purpose-driven businesses strive to make a positive impact on society and the environment. As we saw in 2020, consumers are increasingly aware of where and how they are spending their money and the impact it has on the world. In 2021, we can expect to see more companies aligning their purpose and mission with the greater good. Purpose-driven companies can gain a competitive advantage as they resonate better with consumers who care about the world we live in.
Sustainability is a Priority
Sustainability has been a hot topic for a while, but in 2021, we can expect it to become a priority for businesses. Climate change and environmental concerns have captured global attention, and companies can no longer ignore the impact they have on the world. Businesses that prioritize sustainability can benefit from increased brand loyalty, cost savings, and a better reputation in the market.
The Gig Economy is Here to Stay
The gig economy has been growing for the past few years, but the pandemic has accelerated the trend. With the rise of remote work, businesses have become more comfortable hiring freelancers instead of full-time employees. The gig economy offers flexibility, cost savings, and access to specialized talent. In 2021 we will see more gig workers and independent contractors across industries.
Conclusion
The world of business has transformed, and 2021 will be a year of massive change and opportunities. Remote working, digital transformation, purpose-driven businesses, sustainability, and the gig economy are the top global business trends to watch out for. As companies brace themselves for the future, they need to adapt, innovate, and embrace technology to stay competitive. The world may have shifted, but businesses that keep up with the trends can thrive in the new normal.
