February 22, 2016
Top 4 Small Business Trends To Watch In 2016
What trends should your business be on the lookout for?As 2016 continues on, many businesses are still making changes to their development models, daily tasks and communication channels. In order to remain successful as a small business, focus on certain business practices and trends will emerge in 2016. Four of the biggest predicted trends to follow into 2016 include:
- Business Intelligence: This form of data collection focuses on fragmented data sets, translating it into important business information that can be used to make improvements. Usually compiled by larger companies, small businesses can now take advantage of business intelligence benefits such as analytics, monitoring and marketing automation.
- Mobile capabilities: According to Business2Community, mobile will continue to grow for small businesses, especially in terms of application usage for salespeople and customer service roles. Mobile connects offices and worldwide departments, ensuring businesses have the best processes possible.
- Prioritizing retention: Companies are taking steps toward better employee retention, with 42 percent of smaller businesses indicating its importance, in comparison to only 35 percent of enterprise players. Better retention enhances productivity, work practices and overall morale for a workforce. This causes employees to want to stay longer in a position or move up the corporate ladder, allowing roots to grow and expertise maintained.
- The new, emerging workforce: Millennials are steadily encompassing the emerging workforce and this should be used to the advantage of businesses. Millennials are more apt to use technology in their daily activities, create a culture of inclusion and insight, as well as demand growth both in their current position and future goals.
With these predictions in mind, creating your own development plan can be achieved in a more timely, efficient manner.