Top 6 trends that will drive small business in 2022
Top Business Tech takes a look at the top trends that will help small businesses thrive in 2022 while also improving employee relationships.
The global pandemic in 2020 threw the world of small businesses into a battlefield where the war is only just starting to end. The pandemic created a whole new world of work, and small businesses need to understand and implement the upcoming trends for 2022. The below trends will help smaller organizations to fit back into the market and thrive.
1. Empathy and emotional intelligence
If the last two years have shown us anything, understanding and seeing another’s feelings is no longer a luxury associated with good customer service, but an essential skill to running a business.
As a small business leader, empathy helps understand the relationships and dynamics between colleagues and managers. By recognizing various behaviors, feelings and interactions, a business leader can improve the flow of various relationships and create teams that work well together. By recognizing and understanding emotions, small business leaders can make their employees feel seen and build a relationship where employees want to stay and grow at the company.
Chris Westfall, Business Coach has commented that “empathetic leaders help people to win in ways that they may not have discovered just yet. It’s time to stop feeling sorry for ourselves and our circumstances. It’s time to acknowledge where we are and make some smart choices about moving forward.”
2. Big business systems and processes
Small businesses need to start incorporating various big business systems and processes into their company. Ron Carroll has broken down what a business system is and what makes it effective. Carrol stated that “a system is a procedure, process, method, or course of action designed to achieve a specific result. Its component parts and interrelated steps work together for the good of the whole. Creating effective business systems is the only way to attain results that are consistent, measurable, and ultimately benefit customers.”
By implementing these systems and processes into a company, business owners can improve relationships with suppliers, customers, and employees. At the same time, businesses will also create a strong company that can handle rapid growth. Some examples of systems and processes those small businesses can implement into their company are:
- Enterprise Management System
- Financial Management System
- Facilities Management System
- Equipment Management System
- Employee Management System
- Product Development System
- Supplier Development System
- Toll-free numbers
- Voice response systems and automation
3. Work/life balance
Throughout the pandemic, many people reassessed their lives and what they value the most. People have decided that family must always come first, and there has been an increased need for a work/life balance. Unfortunately, when a business doesn’t consider this, they may lose their most valued employees to companies that provide flexible working hours and hybrid or remote workplaces. By incorporating various opportunities, such as flexible hours, exercise classes and hybrid working, small businesses can create a space where employees:
- They will feel less stressed
- Their mental health will improve
- Their physical health will improve
- The balance will improve and maintain their relationships with family and friends
- They will show more engagement and creativity at work
- They will be more productive during the day and more successful overall
4. Digital and cloud technologies
Small businesses need to invest in digital and cloud technologies to thrive and grow in the next five-10 years. In today’s digital economy, enterprizes depend on the effective use of technology to support ongoing business processes and drive new sources of competitive differentiation. Technologies such as artificial intelligence, machine learning, big data, IoT, etc., have come into the market and grown rapidly over the years. By incorporating some of these into a business, the needs of modern consumers will be met. Digital transformation is the way these organizations make this change. While the cloud is the support they rely on to enable this transformation.
5. Coaching and mentoring employees
By finding creative, innovative ways to attract and retain talent, small businesses will maintain a happy workforce and improve retention. Coaching and mentoring can be effective approaches to developing employees. Both have grown in popularity, with many employers using them to enhance their people’s skills, knowledge, and performance around specific skills and goals.
6. Agile service delivery and product development
When small businesses remain active in service delivery and product development, they create a personal brand that competitors will easily recognize. Creating various solutions and understanding their impact on different clients will assist a small business to thrive by providing variety, creativity, and considered innovation in any market. Through product development and service delivery, there is a newfound value of:
- Individuals and interactions over processes and tools
- Working solutions over comprehensive documentation
- Customer collaboration over contract negotiation
- Responding to change over following a plan
READ MORE:
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- Why small businesses would benefit from the cloud
- Tips for improving cybersecurity for small business
- Vodafone and Enterprise Nation to give free digital skills training to 100,000 small businesses
In closing, small business owners need to look at both the technological side of improving their business and understanding their employees. By incorporating technology and real emotion into a business, small businesses are bound to fit back into the market and thrive.
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