2020 introduced us to a whole new world of chaos that shows no signs of abating. The market has become extremely fierce, travel is slowing down, and big companies are expanding their remote work plans. The pandemic heavily impacted small businesses that struggle with staying afloat even at the best of times. According to statistics, COVID-19 measures have affected 82% of small businesses. Since the pandemic is still in progress, here are several practical tips on how to strengthen your small business in 2022.
Support Remote and Hybrid Work
According to Gartner, 51% of all knowledge workers worldwide will keep working remotely by the end of 2021. Moreover, their survey estimates that remote workers will represent 32% of all employees worldwide by the end of 2021. That is why your small business should support remote and hybrid working in 2022. However, just investing in a set of employee collaboration tools is not enough.
To get the most of your remote work strategy, make sure you set clear goals and define measurable outcomes. Engage your HR team since their role in creating an employee-friendly remote working strategy is a priority.
Address Data Security Risks
The adoption of remote and hybrid working has increased cybersecurity risks. When working from home, employees often use unauthorized devices and unsecured Wi-Fi networks. That way, they put your business at greater risk of compromising your sensitive information. If you have data security protocols and policies in place, consider reviewing them. For starters, perform penetration testing to identify the vulnerabilities in your existing data security system. Only that way can you address them effectively.
Consider investing in tools that help your employees maintain data safety, such as encryption software or access management tools. Most importantly, develop protocols that dictate how data security incidents should be reported and handled.
Respond to Changing Employee Requirements
It is not just customers whose expectations and requirements have changed. Your staff has also undergone a few changes themselves. Flexible work hours, working from home, and a higher quality of life have become their priorities.
To improve your business management strategy in 2022, you should start from within. Listen to your employees and respond to their changing needs. For example, do they prefer remote work over traditional workspaces? How well can they balance their private and professional lives in the New Normal? Only by talking to your employees and collecting their feedback can you keep them engaged and satisfied. Statistics support these statements. According to a recent survey, 39% of employees would consider quitting if their managers forced them to give up remote work and return to the office.
Another way to boost employee morale and performance is to optimize your workflow. Automation has become one of the key technology trends over the past few years. Invest in custom engineering solutions that will support your company’s specific needs and requirements. By automating manual processes, you help employees focus on more creative and complex aspects of their jobs.
Get the Most out of your Digital Transformation
Over the past few years, companies have been heavily investing in digital transformation. However, the Coronavirus pandemic speeded the process up. For most of the past year, remote work and cloud office tools have become the front and center of many small businesses. Since the reopening of the economy in 2021, most companies have decided to save up and put a pause on their digital transformation process. Unfortunately, that is a huge mistake. While the world has been gradually returning to normal, the future is still uncertain.
To maintain a competitive advantage, you should keep investing in digital transformation. Start by strengthening internal communications with virtual team collaboration software, IM apps, and project management tools. Make sure each department is equipped with a set of cloud tools that make their jobs easier.
Invest in Digital Commerce
Since the COVID-19 pandemic outbreak, customers have shifted to online, contactless purchases. They are shifting to digital platforms for their day-to-day needs, such as paying bills or shopping for groceries. They now choose reliable, trustworthy brands and value-based purchasing. Therefore, if you are still married to your brick-and-mortar operations, find new ways to cater to tech-savvy online consumers. Ecommerce should be an invaluable part of your digital transformation strategy.
To remain competitive in 2022, be where your customers are. Complement your physical store with its online counterpart. Create a fully optimized website that supports seamless purchases. Keep in mind that e-commerce does not end with your website. It includes other media your target audience uses, such as high-quality blog content, social networks, email newsletter lists, etc. Above all, focus on building an omnichannel customer service strategy that supports your customers, irrespective of their location, channel, or device. Invest more in customer self-service sources, such as AI chatbots on your website or a detailed knowledge base.
Over to You
Running a thriving small business can be challenging in the New Normal. To maintain a competitive advantage and increase profits, you should keep pace with the changing market trends and adapt fast. The key to success lies in innovation, flexibility, and strategic thinking.