Important business trends for 2020

Important business trends for 2020

The big business trends of 2020 are set to revolve around technology, mental health and the environment.

As we head further into 2020, businesses will have to adapt in a world that places more emphasis on sustainable business practices. Firms that take care of their employees’ physical and mental health will attract more people.

Technology will continue to be the key enabler to allow employees to work remotely, flexibly and more effectively. 2020 will be a busy year for businesses in the UK and international businesses.

Environmentally aware companies are gaining more traction. This is partly because people are making buying decisions on the basis of the environmental credentials of a business.

As a result, businesses are responding by focusing on their environmental and sustainability policies. Many firms are adapting their CSR activities to include environmental projects in order to help drive the green agenda in local communities. This trend is likely to accelerate this year.

On the technology side of things, machine learning and artificial intelligence (AI) are continuing to advance. Business adoption of AI-powered technologies is expected to triple by 2021.

Businesses now have access to more powerful tools in order to create new customer experiences.

For example, music-streaming service Spotify uses AI to make the listening experience more personal by creating customised playlists for each user.

There is more emphasis being put on physical wellbeing and mental health by younger workers. Employers will need to adapt in order to attract the next generation of talented employees. Remote work options and wellness programmes are high on the list of priorities for millennials and Generation Z employees. 77% of millennials say a flexible work schedule enables them to be more productive.

The businesses that really embrace these new trends will attract the best people.

 

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