Key business trends to embrace in 2021

2020 will go down in history as a year like no other. With most businesses closing doors to physical offices overnight in March, the monumental task of continuing to sell products and services led to a rethink of how businesses will operate in 2021.

Here are four key trends that helped businesses remain profitable last year and the learnings we’ll be taking into 2021. 

Connecting from home

Many businesses locked their doors in 2020, went home and logged onto Zoom/Teams. Online platforms were instrumental in keeping client meetings scheduled and businesses running from our living rooms and kitchens. Conference calls and enforced working from home shifted where and how we work and when we go back to face-to-face meetings, online meetings and working from home options are now set to be a standard option. 

Employee wellbeing 

The previous year has been stressful for many, and businesses recognise it’s as important to look after employees as it is to sell products or services. Business owners are more aware of the impact work may have on their employees so many are taking steps to ensure the welfare of their workers is a top priority. The business world is recognising the impact of mental health on employees and stepping up to ensure resources are accessible for all. 

Business Model Innovation

There were lots of industries that were completely transformed in 2020, such as the hospitality and events industry. The businesses that are currently thriving even during a pandemic are those that reacted quickly to the changes. For example, restaurants that pivoted to enable expanded take-out abilities. Although businesses have always had to think about how the market is shifting and what transformations that means for business, it will be more important in 2021 to innovate your business model.

Learning something new

In addition to recruiting new employees, many businesses are taking the initiative to reskill their existing employees. Accessing new skills, ones that are in demand, increases their marketability and encourages personal development. With many businesses embracing online platforms, getting your employees up to speed digitally only benefits them and your business in 2021. 

The key business trends above are born out of a proactive approach, which has proven to be essential. We all have our fingers crossed that 2021 will be considerably less unpredictable than the previous year, but we should remember not to become complacent. Keeping our eye on the ball is one thing but we also need to be quick off the mark if we’re to lead successful businesses in 2021.