The last few years have seen businesses evolve further than they perhaps would have ever expected. But they have no intention of slowing down. In fact, it’s more than likely that businesses will evolve even further and innovate their industry.
Recovery From COVID-19
The impact of COVID-19 will be felt for a few more years to come. Take the hospitality industry for example, they had to find new ways to sell their goods, often through takeaway only methods of transaction. What we did see a lot of in regards to hospitality, is the rise of other businesses to sell their goods.
Delivery services, such as Amazon and Deliveroo, saw their demand rise so much that they were one of the only industries actively looking to mass hire. Many out of work people took to the Amazon warehouse or grabbed their bike to deliver restaurant food for Deliveroo, as an example.
Many businesses didn’t have this growth luxury, and instead have had to downsize for the short term. The next few years will be all about businesses looking to claw back what they had before, or at least learn from what happened and almost reset their business practice.
As the economy looks to recover, businesses will be in positions to work with the government through schemes, such as the recent Eat Out To Help Out scheme, in order to get back ahead.
More Automation Within The Workplace
Something that has always been a trend within businesses since the industrial era, is the constant search for automation methods in the workplace. Automation refers to when a task is done by itself, without the need of human input. Modern technologies have automated many tasks in daily lives as well as businesses, and they are constantly trying to innovate.
In the last few years, we’ve seen many customer service roles, especially due to the pandemic in 2020, become automated. As many staff were furloughed, businesses needed to find ways to assist their clients on a minimal scale. That’s where automated phone lines and chat bots came into play.
This trend of automation will only be increased further in the next five years, with many businesses already looking to make their business practices more digital. Of course, a more digital workplace means less human interaction.
As a business owner or employee, you will be expected to be knowledgeable of new automation methods, technologies and techniques, in order to make effective change. Business automation is essential for successful growth of an organisation, and you can take online courses to find out more from experts within your industry.
A Cashless Society
Don’t be too surprised if over the next few years or so, you start to see businesses refuse to accept cash. This has been largely due to the COVID-19 pandemic, which led to many businesses removing cash from their tills, and only accepting contactless methods, such as cards.
Whilst many businesses start to return to cash methods of payment, there are many that weren’t as interested, declaring that they weren’t losing out on any business, and it led to less errors when it came to finances.
Before, it was possible for employees to miscount change handed to them, leading to variances, and in rarer cases, it was possible for cash to be stolen out of a till easily. But with digital payments, there is no physical cash on premises to miscount or steal.
It is likely that because of this reason, amongst others, that businesses will start to push cash aside in the next few years. It may be longer until it’s fully gone, but for now there are reasons for and against it staying. The elderly for example, mainly deal with cash, as do a lot of charities.
The Pressure To Be Sustainable
Many businesses have started overhauling their organisation in order to be more environmentally friendly. They do this by cutting down on carbon emissions, adopting fewer fossil fuels and looking for cleaner ways to power their buildings.
This has been a trend over the last twenty years, but the last few years in particular have started to ramp up these demands. Environmental groups have gained publicity from their protests outside businesses, and have informed people of what needs to be done.
Businesses not only have started making promises of becoming more environmentally friendly in order to get good publicity, but some have realised that it can actually be cost effective in order to adopt these methods.
Take electricity for example, many businesses found that they can generate their own in house, from changing very little. There is a technology that can be built into a floor that generates a small amount of power when stepped on. Workers on a production floor are constantly moving, and can generate their own power just from doing their job, saving a lot of money.