Top 3 Business Trends for 2022

The past few years have been tumultuous for businesses across all industries. The start of 2022 offers an opportunity to survey just how much the business world has been shaped by the pandemic, and to position your company for success in the new normal.

The following are three emerging business trends to watch and consider adopting in the coming year:

1. Vertical Integration

A direct result of the pandemic, the 2021 global supply chain shortage meant that many goods were either a) much more expensive or b) not available any more. 

Companies realized just how dependent they were on their suppliers and vendors, whether it was for raw materials, factory parts or shipping services. The massive production delays caused many business owners and managers to rethink their reliance on the supply chain.

The result has been a resurgence in vertical integration, where companies bring more of the production process under one roof. Businesses in 2022 are looking for ways to deliver goods and services without waiting on others, and that means doing more themselves.

This was seen when major corporations like Home Depot, Walmart, Ikea and Dollar Tree announced they were chartering their own ships to get around massive delays and price increases in the shipping industry. Ford also announced it will start developing and producing its own computer chips, after months of struggling to source them for its cars and trucks.

2. Remote Work

If your company has yet to implement a standard WFH policy, you should be thinking about it in 2022.

With new technology and enhanced program capabilities over the past decade, remote work was on the rise even before the pandemic. In fact, Upwork’s 2019 workforce forecast predicts 3 out of every 4 departments will have remote workers by 2028.

The pandemic forced many to test the model out sooner, and many workers took a liking to the lifestyle. In 2021, 97 percent of workers surveyed by Buffer said they want to keep working remotely (to some degree) after the pandemic.

This isn’t surprising, as workers reported getting more done at home, saving money on transportation, having more time with family, and a higher overall job satisfaction.

3. Strong Company Values

Today, it takes more than good salaries and benefits to attract top candidates. Employees want to work in a positive environment that promotes flexibility and cooperation.

Forbes recently published an article suggesting that values should be at the forefront of your company’s strategic plan, noting that many workers are looking for companies that emphasize personal freedom.

Businesses striving for a competitive advantage should go beyond stating what they value. After all, It’s not hard to throw out some inspirational nouns. Your values should be reflected in employee evaluations, company policies, and overall office culture. For example, if one of your values is “volunteering,” organize opportunities to do so as a company.

Here are some examples of trendy yet meaningful company values you may want to consider:

• Innovation
• Diversity
• Adaptation
• Transparency
• Integrity
• Sustainability

Do these trends have you busy revisiting your 2022 strategy? Let us handle some of the day-to-day operations. From Payroll to Advanced HR, Future Systems offers a variety of services you can count on. Check out our range of solutions and reach out today.