Here you have 5 trends to keep an eye on during this 2023:
Remote/Hybrid work
Today, 68% of Americans would prefer to be fully remote, reported Zippia, who conducted extensive research on this to determine facts, trends, and projections.
In fact, remote work is one of the perks employees are looking for when job seeking. As a business, you may miss out on talented employees if you are not able to offer remote or hybrid work options.
Supply chain, go for local products as closest it is the supplier the best
While industry experts predicted nearshoring to happen slowly over the course of several years, small and medium-sized businesses are already making the move to nearby suppliers and relying on local products. This is a highly successful way to make your business more robust in the face of global strife. Another way to address this problem is to diversify your supply chain and spread the risk around.
Talent retention
“Quiet Quitting” and “Great Resignation” are terms that have gained a lot of traction this year. They are the result of a complex mix of post-pandemic attitudes toward work.
Employees don’t just want a big paycheck or promotions, they want to be happy at work and have flexibility.
Taking steps to engage with your team will help you retain top talent, while also helping you to attract new hires.
Gen Z
A 2022 study from Microsoft found that 62% of Gen Zeers have started—or intend to start—their own business redefining the workplace hustle.
Of those who have started their own business, 91% work unconventional hours outside of 9 am to 5 pm. As their numbers increase, this cohort will rewrite the way business is carried out in ways we haven’t even considered.
Inflation
Inflation continues to present significant challenges for small businesses while keeps rising up. It isn’t easy to raise prices as you risk losing loyal customers in the process.
This may force business owners to start thinking more about how they can improve efficiency and save money in the long run. Do your best to keep your profit margin at your current levels, revisit your business plan, and try to reduce the variety of products you’re offering to cut down on storage space and other costs.
Contact us if you need some extra help or you don’t know where to start. We’re here to help so you can focus on other parts of your business. Contact us and sign up for our newsletter to get the latest tips and trends in your inbox.
