The Next Normal: Emerging Business Trends in 2021

Editor's Note: Take a look at our featured best practice, Business Continuity Planning - Guide, Process and Tools (61-slide PowerPoint presentation). The disruption COVID-19 caused has made businesses more aware of the importance of business continuity planning (BCP) for effective disruption-related preparation, response and recovery. Although the term "business continuity" is often used as a synonym for IT Disaster recovery [read more]

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Businesses have spent these last few months scrambling to adapt to changes and extraordinary situations. At the same time, the fight against the Covid-19 pandemic is far from over. However, there is a faint light at the end of the tunnel. 2021 has become a year of transitions with a chance to limit issues and starting to look forward to reshaping the future. The next normal is way better and different, with a chance to step away from conditions that prevailed last year. We should estimate that the changes in customer preferences and renewed business models will outlast immediate crisis.

Digital nomadism, philanthropy, and sustainable development goals have become the primary keywords for 2021. We will also see major changes in technology and business innovations based on experiences of the past. Here is a list of some emerging business trends we will see in 2021.

1. Work from Home and Opportunities to Upgrade Workforce

When the employees were under lockdown due to pandemic orders, companies and businesses had to change their operations and make their workforce remote. With the lessons learned from this activity last year, businesses are now rethinking their entire model. Most companies experienced productivity increase with the remote workforce, while the idea was not suitable for some.

Therefore in 2021, businesses have to reimagine their workspace and provide proper resources for remote employees. Outfitting them with the right equipment, providing mental health support, and other support programs significantly increase business productivity. Work from home trends is something that businesses can leverage to decrease their running expenses while bringing the same profitability.  Likewise, employees can monitor their virtual workforce with an employee tracking app.

Furthermore, e-learning is a trend that became the most popular amid the pandemic. Top online learning platforms worldwide generated a record business in 2020 and 2021. Now businesses can spend a lot on their workforce to upgrade them according to the next normal. They can allow their employees to study further using online education. Today professionals who want to upgrade their business skills can opt for degrees like AACSB accredited online MBA no GMAT required.

2. The Rise in Co-Working Spaces

As businesses have started to adopt the remote working idea, the demand for co-working space has also increased. There is less need to travel across the city to reach your office, saving both time and commuting costs. While working from home is necessary that businesses have to adopt, people still need a dedicated space to work.

The business of shared and co-working space has become a trend this year for people who want to work remotely on a flexible basis but not at home. People can pick a space according to their shifts, away from distractions or limitations. The benefits directly link to removing the need for travel and becoming more sustainable. Although this might not be a huge shift, it is still interesting to see people preferring short distances to work and provide the same productivity.

3. Contactless Delivery and Shipping as the New Norm

With the effects of pandemic still influencing us, an increase in contactless operations has industries adopt alternative practices. No contact delivery has become the new normal, and major delivery services offering drop-off delivery options. This demand has stemmed from people’s desire for no physical contact and a trend to continue to grow in 2021 and beyond.

Major market shareholders in the US, China, and other countries have launched contactless delivery services with autonomous vehicles to fulfill customer orders. Innovation in this trend happened with the implementation of robotics and artificial intelligence by startups.  It’s not a secret, that truck manufacturers are in the game too and the technology of autonomous semi-trucks is already there.

4. Automation in Businesses

Another top trend in 2021 business is automation. Businesses have started to evaluate their operations to see where they can take people out without adding value.

Automation will impact our work in the future, as we are seeing automation has already been implemented in warehouses, supply chain activities, and delivery services to take over customer service and other functions.  Chatbots have taken over physical support teams to answer concerns and inquiries. 2021 will show white-collar automation as computers and smart applications take over through automated interfaces.

5. Virtual Interfaces

As customers avoid walking into stores due to Covid-19 speculations, businesses had to find new service delivery methods. They have begun to consider the means to provide services in digital forms using virtual interfaces. Technologies such as augmented, virtual and mixed reality give services in real-time environments. While complying with stay home orders, customers can use virtual interfaces to try makeup, clothing, eyewear, etc. Ultimately, this try-before-you-buy feature has transformed the way businesses offer their services or products.

6. Streaming Focused Corporate Reorganization

Disney recently announced a new strategic reorganization to focus the business on streaming. They indicated that the popularity of their streaming service Disney+ promoted them to take this strategy in motion. It shows that the media business will shift its trend to streaming platforms in the coming days. Most of the streaming services have already made their mark. They are now getting ready to host a variety of shows and programs apart from traditional television networks.

Final Word

As we resume the fight against the Covid-19 pandemic, businesses have to change their models to continue working. Businesses that failed to tackle the changes have either shut down or had their profits lowered. There is a need to follow the top business trends of 2021 to ensure survival in the market and delivering the same service.

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