Startup Trends in 2022
In 2020 there was a paradigm shift in businesses and entrepreneurship globally with a lot of business closures. 2020 and 2021 also saw the launch of a multitude of new small businesses, globally. Since then, there has been a multitude of trends that have developed and are changing the way businesses operate and are managed today.
Here are a few of the Startup trends to look out for in 2022:
Remote Work: Remote work started out as a necessity in 2020 due to the Covid-19 pandemic and it has since become a trending business model in tech companies and a lot of Start-ups. As of May 20, 2021, the percentage of paid job postings on LinkedIn offering “remote work” has skyrocketed to 357% beyond the earlier year. Remote work now accounts for 26.8% of all paid job listings. It would appear that what started as a necessary evil has now become a high demand business trend with job seekers opting for remote jobs. This is a trend we certainly will continue to see more of in 2022 and quite possibly after.
Virtualisation of Business: Not unrelated to remote work is the digitisation of businesses. This covers the use of artificial intelligence heavily in businesses as well as the lean toward digital currency and virtual recruitment and onboarding processes.
Artificial intelligence may be unable to tackle common sense tasks but it is able to analyse and process data far more quickly than the human brain. It is able to deliver the right information to the right customer, aids in scheming out the consequences of each action and generally helps to streamline the decision making process.
“Digital currency is not a new phenomenon in the business world but 2020 and 2021 brought about more global reliance on cryptocurrency with quite a large number of the global population now making investments and savings in cryptocurrency as well as financial transactions. 2022 will not be any different as more businesses will need to deal in crypto in the form of transactions but primarily having it as an accepted mode of payment.”
Increased Online Presence: Every company or firm today is striving to establish social media presence of some sort, by creating a presence on apps like LinkedIn, Instagram and Twitter companies seek to partake in the digital boom. Several companies now employ people to operate in such capacities with roles like social media managers, Digital media strategists, content writers and creators. Essentially globalization is causing every company in the world to adapt to the changing times.
Talent Priotisation: In the startup space there is an increasing demand for fresh talent. Hence skill is top priority. With the introduction of online courses and certifications, people are able to learn and specialise in several areas such as data analysis, cyber security etc without necessarily having degrees in those areas. Essentially the question is no longer ‘Do you have a degree in this area?’ But now ‘How skilled are you at it?’ By being inclusive and not rigid in recruitment processes, startups allow for people with actual talent and passion to gain the necessary opportunities.
Diversity and Inclusion Hiring: ‘Inclusion’ is a term that has been floating around in every form of media since 2019, inclusion of races, genders, sexual orientations and identities and ethnicities. This has been and still is an ongoing conversation and trend in the business world. Now more than ever, business are being intentional about inclusivity and diversity with companies setting up roles specifically for women and ensuring racial and ethnic diversity in their recruitment processes. This is a trend that we will probably be seeing more of in 2022.