Updated: Feb 16, 2022
The last year has seen huge changes, both to the way businesses work and the way they plan to work in the future. These changes are largely due to the COVID-19 virus, which has forced a complete disruption in the way people have traditionally operated.
"There are times when there is a major disruption that suddenly implies what worked so far is not going to work anymore, and you need a new playbook." - Retsef Levi's, Professor MIT.
So it would be silly to ignore the elephant in the room: a global pandemic going on for years will most definitely continue to affect our society. While its impact remains one challenge entrepreneurs must manage in 2022, it's not all bleak.
Employers will need to make some significant adjustments to tackle employment or workforce issues created by what has happened over the last couple of years, and if you do, there will be huge benefits. So here are the top 5 challenges that employers must seriously consider:
Supply Chain Problems
The world faces a supply shortage that will likely affect the entire economy. The crisis at American seaports has created delays and higher prices for consumers, leading them into debt if it isn't resolved soon enough, which will collapse many businesses that aren't paying close attention.
The three giant ocean shipping alliances owning most of these ships are taking up all space in ports, causing a tie-up throughout this complicated puzzle--but don't worry because news outlets should be covering everything thoroughly, so there's no need to panic just yet. ;)
With the supply chain crisis, many factors contribute to it. One of these is high storage fees and labor shortages which have created a surge in consumer demand for goods across all industries--not just logistics-related ones like transporting necessities or groceries but also luxury items such as clothing; this has resulted, among other things, in an increased number of people wanting self-pickup options and social distancing protocols, since they aren't able to receive their goods from the safety of their homes.
Labor Shortages and Talent Crisis
What will be the leading small business challenge of 2022? Recruiters and businesses will likely find it beyond difficult to fill all of the vacancies created by 2020-2021. Americans quit during the pandemic to rethink their family life and career choices. Still, even before that, there were labor shortages in specific industries such as healthcare or trucking because of a deeper problem: People getting sick and tired of low pay, low-skill jobs.
With the rise in mental health awareness, employers are now being forced to be more mindful about their employees' well-being. Increased multitasking has led to higher stress levels, which can cause deficiencies at work such as paranoia or decreased focus, among other things that are not good for business. They lead to less productivity, which compounds lower revenue and profit margins.
For all of these reasons, small businesses should be particularly concerned about attracting and retaining their most loyal talent due to dwindling labor pools.
Equity in the Workplace
Since 2019, the calls for implementing a Diversity, Equity, and Inclusion (DEI) initiative have gained awareness. And as expected, the Biden administration emphasizes equity in the workplace, causing more employers to give underserved groups the right amount of attention and privileges.
The new administration revokes restrictions on diversity training and is taking a more active approach to address the challenges faced by diverse groups for equity and equality. This means that employers need to take a stand against racism, xenophobia, discrimination, and unlawful deprivation in the workplace.
It is expected that employers' implementation of diversity, equity, and management of inclusion will help discontinue social justice movements, such as the Black Lives Matter campaigns across the country.
Digital Marketing and Web Development
Working with the right digital marketing firm can do wonders for your business growth. A team of experts in search engine optimization pay-per-click advertising and e-commerce solutions will help you navigate the changing digital environment to win clients by bringing more visitors to your site from all over! Today you'll need to use a variety of approaches if you'd like your page to show up in search engines, but that doesn't mean it's not possible if done correctly.
Guest blogging is another great way to promote your business and meet new clients. It's also an excellent networking opportunity and the best way for small businesses interested in content marketing through social media or blogging with original expert commentary on topics your clients are interested in.
The simple fact is the value of providing your followers original content cannot be underestimated; small businesses must take time every day to dedicate themselves to improving these avenues through various methods on relevant industry topics. Becoming a solid content marketer is about bringing the right content to your target market, so your efforts aren't wasted.
In today's corporate business environment, working from home or remote work is the new normal. Large organizations have been more successful at managing this shift than small organizations. Small and medium-sized businesses have been less successful in the implementation of working from home.
Many businesses crumbled, while some managed to stay afloat during the pandemic. But in 2022, many organizations have fully adjusted to the change by providing the facilities, equipment, and resources that workers need to work remotely and effectively. Studies have also shown that remote work benefits both employees and business owners. Those who are yet to implement this structure fully will need to find a way to take advantage of remote work by maximizing employee productivity while working remotely.
The digital age has revolutionized business and created new opportunities for small businesses. The most significant challenges of 2022 will reveal that some companies are resilient and grow from their mistakes, while others will not and eventually become their downfall. You have a choice right now to adapt and evolve or to bury your head in the sand and be left behind. Either way, it is your choice.
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At Mission, we use our profound market insights and expert guidance to help you improve your business growth and marketing results. Also, as a leading partner in the PEO, HR, payroll, and benefits outsourcing marketplace, we provide result-oriented services for small and medium-sized organizations and government contractors.