Business trends for companies small and big in 2020
There always seems to be trends floating about that businesses think about adopting. While many of these might seem more like gimmicks compared to good business practice, there are some that do make sense. Let’s take a look at some of the trends that businesses both big and small can adopt before 2020 comes to an end.
Work from Home Support
If the COVID-19 situation has taught the world of business anything, it is that most were unprepared for a mass work-from-home situation. Going forward, more companies will try to offer support in this area, to allow for a more flexible work/life balance.
This can be helpful for several reasons. Due to the rising cost of living, many are having to live fairly far away from their places of work and make long or tricky commutes to and from the office. This can be exceptionally costly, but it can also be very draining on the mind. By offering the chance to work from home, you are also offering employees the chance to tackle their jobs in what should be a low-stress environment. The infrastructure should be in place to allow everyone to work no matter where they might be located.
Philanthropy
The past few years have highlighted several key areas within our society that need to change. Whether it is systemic injustices or growing concerns for causes like climate change, there are many areas that need promotion from sources that care.
Many businessmen, like entrepreneur Tej Kohli or industry leaders like Mark Zuckerberg or Stephen Schwarzman are choosing to funnel part of their earnings into philanthropic ventures. By doing so, they can create an environment and a legacy that will enrich us all. Philanthropy can affect everyone even if we are not the initial targets when the fund is first set up.
Honesty and Openness
While faceless corporations and brands might have ruled thirty years ago, consumers nowadays want to know who they are giving their money to. As can be seen from the meteoric rise in influencer marketing, people want to get to know their favourite brands and the people behind them.
This can be done simply by having a personable CEO leading the way – as can be seen through figures like Elon Musk or Richard Branson – or it could be done through social media managers and other chosen figureheads. While having brand ambassadors is nothing new, it is an area of marketing that is truly evolving, and brands need to make sure that they are keeping up with these changes as they occur.
These are three areas that most brands can tackle as we head towards 2021. Each area could have very significant and different outcomes, but they could also help to achieve something new and wonderful that has not been seen before. Whether a company is a massive corporation with operations across all major continents, or it is a small indie brand that just operates a tiny eCommerce site, they could adopt and benefit from any one of the above trends.