The business landscape has been through leaps and bounds in the past and the year 2022 has shown no mercy to it as well. Be it the turbulence caused by the aftermath of the pandemic or the mergers and acquisitions of global business giants, the business world has had its fair share of hurdles. But rising back from the ashes, the business world is ready to face the turmoil head-on.
Let us look at some of the business world trends that sculpted the entire landscape of the world business trends 2022.
Table of Contents
1. Adoption To The New Normal: Remote Work
The global business landscape has taken a wide shift after the covid pandemic spurted. A new concept of “Work From Home” is being incorporated into the scenario and 16% of the companies worldwide started operating on a work-from-home model basis after the lockdown. This emerging trend in the year 2022 has led to a shift in the entire corporate work culture. 72% of the top 100 companies are willing to maintain the work-from-home culture. Contrary to popular belief, the productivity of employees working remotely has increased by 47% and reports found that working from home is a preferable choice for 82% of the employees.
2. Labour Exodus
The world business trends 2022 saw an unusual trend; contrary to the spike in population, companies are reporting labour shortages. There has been a spike in companies reporting labour shortages by 21% in the year 2022 as compared to 2021. The second quarter of 2022 registered around 12 million job vacancies in the US alone. The year left the business world in shock, with a large number of people exiting the business industries. The sectors having the highest levels of labour shortage include construction, technology, packaging and consumer sectors. This also acted as a catalyst for a lot of other issues like wage hikes and skill shortages.
3. Limelight on Mental Health
The year 2022 showed an improvement in the ethical aspects of working and brought into the picture the concept of mental health. The concept once known only in the books, mental health has finally found its place in the corporate domain as well. The concept of work-life balance has been incorporated into the business world with all seriousness. Due to excessive quiet quitting cases reported this year, the focus of many business giants has shifted to incorporating mental health in their policies. According to APA’s Work and Well-being Survey, 71% of the employees feel that their employer is more concerned about their mental health.
4. Sustainability: A Rising Concern
The business landscape is a part of the larger global scenario where everything works in an interconnected fashion. The world business trends 2022 has incorporated the idea of sustainability just like all the others. The idea of inculcating sustainability into global business should have been a step taken earlier in time, but it’s never too late to add environmental concerns into the business model. Businesses in 2022 have inculcated the concept of transparency in the supply chain and net zero emission. According to a report by KPMG, out of the world’s top 250 companies, 96% of them presented a sustainability report. Moreover, one-fifth of the world’s largest public companies have taken steps towards net-zero targets.
5. AI Crawling In
With the ever-growing trends of technology and automation, a new subfield, Artificial Intelligence has spread its wings in the world business trends 2022, making the entire process more technically sound. 50% of the businesses in 2022 have reported the use of AI in at least one area of their business as compared to 20% in 2017. The global AI market grew by 27.8% in 2022 as compared to 2021. The emergence of this new domain is functioning hand in hand with human intelligence to reap multifold benefits.
6. Gig Economy On The Boom
With the new generation entering the workforce, the entire working environment has changed. The change is in the form of the Gig Economy, a work environment based on contractual and short-term commitment work. What is fueling the gig economy is the preference for comfortability and independence that the new workforce (especially millennials and Gen-Z) like to have. According to a report by Niti Aayog, the gig economy is expected to expand and 23.5 million workers will come under the domain of the gig economy by 2029-30.
7. Social Media Rising Skyrocketing Businesses
The real potential of social media is being realised in the year 2022. With the emergence of social media as a marketing tool this year, many businesses have transformed their marketing tactics and have increased the share of social media marketing in their marketing portfolio. To generate leads, build brand awareness and even build a brand name, social media is now the most sought platform. About 71% of small and mid-sized businesses have used social media marketing in 2022, out of which 52% post content on a daily basis. Social media marketing has turned out to be one of the most growing world business trends 2022.
The world is leaping at a lightning speed and it has become difficult to keep up with the pace. With the end of this year, a lot of changes have been observed in every sector of the economy be it the political, economical, social or environmental domain, especially the global business scenario. A lot of world business trends 2022 have emerged, some of them faded away and a few will be carried forward into the next year.