2022 - The Era of Hyper Innovation?
Dewan Consultants
Elevating Global Recruitment Standards | 45+ Years of Excellence | Trusted by Leading Companies
Over the past two years, we, as business owners, managers and employees have witnessed unprecedented changes, disruptions, and innovations that have simultaneously pushed us out of our figurative comfort zones. These monumental times have reshaped the world we live in today and most importantly our outlook on business strategies, productivity, and well-being.?
Global businesses and economies have welcomed 2022, with much optimism for a new lease of optimism, to strive forward as new trends unfold. The tech-enabled industries will have to gear up as demand will only accelerate from key sectors, making it more competitive for existing players. Some of the sectors that will continue to evolve in 2022 are eCommerce, q-commerce, edtech, healtech, fintech, proptech, entertainment, cryptocurrency just to name a few.
The top game-changer though has been the Covid nuanced ‘work-from-home’ experiment, which has decidedly ushered in an era of out-of-the-box innovation.?
Business today is a moving target. From talent shortages and supply chain disruptions to pricing pressures and the on again - off again pandemic. It’s tough to predict what will happen in the next five minutes, much less the next year. But one thing is clear: work has changed forever, and there’s no going back.
Unplanned investments made over the last year to accommodate remote work have torn down barriers and given way to new ways of operating that will fuel unprecedented levels of innovation and growth in the year ahead. Here are our predictions of what's to come in 2022.?
Innovation will take center stage
It’s been said that necessity is the mother of innovation. When the pandemic hit, companies had to find new ways to operate. And they took decades worth of steps forward, not only innovating how they work internally but the entire customer experience. These giant leaps have given way to new business models – from telemedicine and virtual learning to the metaverse – that will enable them to thrive in the new year and beyond.
The stage is set for continued growth.?
Investments in new technology and flexible work models over the last year fueled a $678 billion boost in revenue across industries. And 69% of business leaders around the world say they will increase investment in R&D in the next 12 months to sustain this growth.
The enterprise will go virtual
Remote work was admittedly a forced experiment. But employees have adapted, and research shows 90 percent want to continue to do it – at least part of the time – going forward. In 2022, they’ll get their wish. While skeptical at first, business leaders now recognize the positive impact flexible work can have on everything from employee engagement and productivity, work-life balance, and mental health, to talent recruitment and retention, operating costs, and the environment. And they will embrace the model and invest in tools and processes that empower employees to create and innovate, wherever they happen to be.
Metaverse and Digital WorkPlaces
Much like 5G in its early days, Metaverse, perhaps because of our love-hate relationship with the Facebook giant, has been quite the buzzword since it was announced. But, what exactly is it and how do we see it ‘really’ shaping our meetings and overall lifestyles?
The metaverse can be described as a three-dimensional virtual space where users can come together via avatars that resemble them and mimic their movements so that they can interact with each other and the surroundings, which also replicates the physical world with select modifications.
The metaverse would be the next iteration of the internet and the social media world, with a few points of difference:
For one set of businesses, the metaverse will be another channel in their marketing mix and a prominent one at that. We predict most B2C and retail customer interactions and recruitments transitioning to this platform. Overall, over the next few years omnichannel strategies for marketing, sales, and CX must evolve to include virtual reality.
The second set of businesses will be metaverse native, just like we have digital native companies (e-commerce, clouds, etc) today without any brick-and-mortar presence.?
The transition will happen, however, 2022 would be an unrealistic timescale for complete integration to occur and till then we will see the digital workspace becoming the new office.
"I predict most virtual meetings will move from 2D camera image grids – which I call the "Hollywood Squares model," although I know that probably dates me – to the metaverse, a 3D space with digital avatars."??
Bill Gates.
Whether at home, in the office, on the road or anywhere in between, employees must be able to securely engage and collaborate in a consistent and transparent way.
In the year ahead, companies will reimagine the role of the physical office and design purpose-built digital workspaces in which employees can securely and reliably access the resources they need to efficiently and effectively execute work and collaborate with colleagues, partners, and customers across any device, work channel, or location.
And they will support them with policies that encourage equitable working methods to ensure no employee is at a disadvantage because of where they happen to be.
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Dubai has ranked as the fastest-growing e-commerce market in the Middle East and North Africa thanks to a very advanced technological infrastructure and the growing number of tech-savvy consumers. Dubai Customs expects e-commerce sales to rise 23 percent to $27 billion (Dh100 billion), in 2022.
Rewritten Social Contracts and A New Class of Jobs?
Workers are leaving jobs in record numbers, and it’s exacerbating an existing talent shortage – especially for in-demand skills – like cloud, security, and AI and analytics, which are needed to modernize and digitize business. To stem the tide, companies will rethink the employee value proposition and give people what they seek: flexible work models and equal opportunities to contribute to the business, advance their careers and work on their own terms.
Rather than mandating where and how employees work, companies will trust them to decide based on what they need to get done. If they need to collaborate or meet with customers and partners, they may choose to go to the office. If they want quiet time to focus on individual work, they might opt to work from home. Regardless, they will, through a common digital workspace, have a consistent, and equitable experience.
Speaking of a new class of jobs, in 2009, a large swath of knowledge workers ditched corporate jobs, globally, for consulting and freelance work, creating the so-called “gig economy.” They did so for many of the same reasons workers are leaving today.
They wanted flexible arrangements that would allow them to do the work they want for whom they choose, where, and how they do it best. In an effort to lure some of this skilled talent back and give themselves an advantage in the fierce battle for talent, companies will leverage hybrid models for work and digital technologies to create a new class of “gigs with benefits” that provide the flexibility and autonomy freelance, contract and gig workers crave, along with the stability that has become increasingly attractive as the pandemic wears on.
The foundation for the future of work has been laid. And companies that embrace and build on the hybrid models and technology that will drive it can cultivate the flexible, agile and empowered workforce they need to propel their business into the future.
Virtual healthcare
Virtual healthcare will expand to unprecedented levels, reshaping the sector. Since the outbreak of the COVID-19 pandemic, several groundbreaking new medical technologies have emerged, from gene editing to synthetic biology to anti-aging science. Yet virtual healthcare—telemedicine and healthcare at home—arguably has had the most significant impact on patients.
Alongside telemedicine, another virtual medical service, healthcare at home, is also growing.?
We predict next year will mark an unprecedented level of expansion for virtual healthcare. Furthermore, the practice will become a permanent feature of the healthcare sector.?
Telemedicine is projected to grow to $3 billion in the United States alone, next year, and more European and American hospitals will launch healthcare at home options for patients. Digital health more generally brought in more than $20 billion in venture funding for new deals in 2021, and the overall market is expected to grow at a 14.8 percent cumulative annual growth rate through to 2026.
The phenomenon is global: the British telemedicine sector is projected to gross more than GBP 6.6 billion ($8.8 billion) from 2023?2024, while the number of doctors registered on one of China’s leading telehealth apps more than doubled from 2020, with the domestic market predicted to hit 4.2 trillion yuan ($658 billion) within 10 years.
Developing markets are a key area of opportunity and expansion for telemedicine. In Africa, Asia, and other emerging markets, the expansion of mobile and broadband access is creating opportunities for expanded telehealth coverage. In sub-Saharan Africa, for instance, 4G access is projected to reach almost 30 percent of the population within five years, up from 15 percent today, helping to expand the reach of healthcare into underserved regions.
4 1/2-Day Work Weeks in the UAE
Closer to home, here in the UAE, the robust digital adoption has ensured that the work will continue and remain uninterrupted. The new 4 1/2-day work week — Monday to Friday — starting from January 2022 will help the businesses to align with global markets and will help boost productivity.?
The UAE is looked upon as a global role model to handle this. pandemic in 2020 and 2021 with business sentiment soaring to peak and industries applauding the visionary policies and strategies to not only combat pandemic impact but also ensure that the economy remains competitive enough to boost businesses.
Some of the milestones of 2021 include approval of the Dh290 billion federal budget for five years until 2026 and the launch of the industrial strategy “Operation 300bn” to empower and expand the industrial sector. Further, the launch of ‘Projects of the 50’ will establish a new phase of internal and external growth of the state in various economic sectors which should make the Central Bank of the UAE (CBUAE) target of overall real gross domestic product (GDP) of 4.2 percent in 2022 against 2.1 percent in 2021 achievable. The mega-event Expo2020 Dubai has been a game-changer and catalyzed business opportunities for the UAE and participating nations.
About Dewan Consultants
Since inception, our unique blend of understating needs, talent management and commercial understanding, offers a complete people management and hiring service. We provide flexibility and access to top-caliber professional HR Advice. Over the years, we have been by recruiting the best talent from countries across the globe.?
India, Pakistan, Nepal, Burma, Bangladesh, Sri Lanka, Philippines, Indonesia, Vietnam, Thailand, China, Jordan, Syria, Lebanon, Egypt, Tunisia, Morocco, Kenya, South Africa, Lithuania, Romania, United Kingdom to name a few.?
From sourcing to screening to interviewing and immigration, we have perfected the art of getting the right talent to the destination country seamlessly. Presently, we are one of the world’s foremost Indian human resource providers. With our in-depth knowledge, insights, and expertise in the talent business, we are on a path of becoming a name to reckon with.
mumbai
2 年Good job ??