Many businesses are changing their focus to make room for new trends. With so many things happening all at once, panic is evident.
Fortunately, things are not nearly as gloomy as they may appear at first, and there are certain trends that are not likely to abate any time soon.
Let’s take a look at what you can do to improve your business focus and remain competitive in the long run.
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Making Use of the Gig Economy
The gig economy has changed the rules of the game, that much is evident.
With more and more people turning to remote work and its many benefits, businesses simply have to consider hybrid work models or risk losing the finest of experts and talents to competitors.
What is important to keep in mind here is that the gig economy allows for far greater freedom, meaning that job seekers are not satisfied with just landing a well-paid job anymore.
Things aren’t that simple at all!
In fact, many people are now turning to digital nomadism as it allows them to enjoy a lifestyle of freedom while enabling them to earn enough money.
That is to say, the 9-to-5 work model and office work are becoming outdated rapidly, and traditional contract types won’t hold the fort for much longer, either!
When it comes to contract types, expat taxes are the first thing to consider.
It’s no secret that digital nomads are looking for spots with affordable taxes and costs of living, so make sure to consider these factors when offering a job to the next happy traveler!
As for offering a hybrid work model, you don’t necessarily have to change the way you do business overnight. There are actually multiple hybrid work models so you may pick whichever suits your business best at the time.
These are:
- Partially remote work, with flexible office space – no permanent offices; rented flex space used for periodic collaboration (but not connectivity)
- Almost entirely on premises – limited remote work, large office space the majority of managers and workers
- Partially remote work, multiple hubs – multiple offices with the workforce dispersed among them
- Partially remote work, large office space – the majority of managers and workers spend most, but not all, of their time at the office
- Almost entirely off premises – mostly remote work with no office space
- Multiple microhubs – management and employees are dispersed across small microhubs located in different cities (or countries, depending on the scope of your business operations)
Rising Popularity for eCommerce and Dropshipping
With dropshipping on the rise, many people are now turning to this seemingly godsent option for a living.
The reason why this trend is popular is because literally anyone can do it… or, in other words, one doesn’t have to have qualifications for anything to become a successful dropshipper.
That doesn’t mean that there’s no long-term planning taking place behind the scenes. If everyone could become rich overnight, businesses would go bankrupt left and right.
One notable thing to consider when it comes to dropshipping is eCommerce fulfillment.
Basically, it’s an umbrella term covering all aspects of the dropshipping process, from product selection to packing to shipping.
The goal is simple: ensure a stellar online buying experience for all customers!
Placing More of a Focus on Onboarding Practices
Onboarding training is one of many things that get overlooked too easily. The reason why it is so is that they’re often overlooked or underrated, but any business hoping to remain competitive in the long run should pay particular attention to this step.
Onboarding is critical in more ways than one as it ensures that all new hires are aligned with the company’s goals, vision, and mission.
An ideal onboarding checklist should observe the following:
- Detail job responsibilities, duties, schedules, and payment information to new hires to avoid negative experiences
- Submit a job requisition document to managers in charge
- Gather all the forms new employees need to fill out
- Provide all devices and tools for new hires
- Set up all necessary accounts and logins for new hires
- Schedule orientation sessions early on
Increasing Data Security
Last but not least, ensuring data security everywhere and always is simply a must.
Data security aims to protect an organization’s data and digital information from unauthorized access and comprises a complex set of steps that is not definite.
These are the key areas:
- Physical security of hardware and software devices
- Digital security of administrative and access controls
- Logical security of software applications
Efficient data security strategies should include:
- Strong password protocols
- Use of multi-factor authentication
- Protection of sensitive data
- Efficient data usage policy
Key Takeaways
As you can see, there’s much more to keep an eye on. The focus should be on current trends and do keep in mind that many of them will be around for a while, so don’t rely on half-baked solutions.
Do things properly from day one!
