The post-COVID year has proven to be a year of multiple businesses and industry-related trends.
Here’s a recap of the year 2022 and how it impacted businesses:
Top Business Industry Trends 2022
The US experienced both cost-push and demand-pull inflations. The rising labor shortage also posed inflation pressure on the economy. However, other factors like rising international prices and post-covid were also contributors to rising inflation.
The annual inflation rate touched the highest during the past year in June 2022 at 9.1%, compared to the 12 months in 1981 – BLS.
2. Labor Crunch/Talent Shortages
The labor shortage was an ongoing trend since the year 2021. The main factors that led to a further increase in the labor crunch were: retirement generation, skill shortage, employee burnout, and pandemic routines.
Global talent shortage peaked at 75% during 2022 – MPG.
3. CX Became the Top Priority for Businesses
CX or customer experience has been the key trend of 2022. Customer experience is all about building long-term relationships, going omnichannel and automated remote partnerships, improving employee experience, and telling the customer’s story.
77% of brands believe CX is a key competitive differentiator – IDC.
4. Investment in Cyber Security
Due to increasing security threats, data breaches, ransomware attacks, and phishing scams, companies have started to take action to secure themselves. They are now willing to invest more in cyber security and threat protection.
66% of companies plan to increase cybersecurity spending in the years to come. – Gartner.
5. Demand for Remote Jobs
As the post-pandemic phase began in 2022, there was an ongoing surge in demand for remote work. Employees prefer remote working environments due to the pandemic work routines in recent years. s if they wanted to work on sight. Looming talent shortage was also a concern which led more toward a remote working model.
2022 experienced a 159% growth in remote work – WSR.