Welcome to the new decade. This could be a decade of economic and technological growth as we have witnessed major breakthroughs in the past 10 years with drones, cryptocurrency, big data, AI, and IoT becoming trivial parts of our lives. The amount of opportunities for the 20’s to become a golden age of business development is more than ever. However, recent trends in society will shape the way businesses manage their communication with their audience and reputation. Today we will talk about these trends.
CEOs don’t have an authority to talk about global matters anymore
Business founders and CEOs have to become even more careful in choosing their words and sharing opinions on global matters. To stress, it relates to both “right” and “wrong” positions. People do not consider CEOs as part of their regular world. They do not have authority to preach their opinions on social issues. However, companies with strong CSR are favoured more than ever. The moral is, actions speak better than words. If you want a positive reaction from the audience, do good, and do it quietly.
The rise of activism
Open the news and see that global activism is on the rise all over the world. Technology development allows people to find confederates more easily. Social media is a major part of protests in Hong Kong and Spain. In 2020s, people have the ability to form coalitions not just nationally, but globally. Despite different stereotypes, Gen Z is the generation with the least trust in companies and brands, ever. It creates a real challenge for businesses to tackle their preferences. Organizations have to become especially cautious in every step they take, as a small mistake can spread to the mass in seconds, and become a reputation crisis.
Today’s generation is under so much pressure, that the topic of mental health has become a major concern. While some people still laugh at it, more than half of employees are leaving their jobs for mental health reasons. Thus, it becomes a necessary part of the workplace environment and organization to consider. Companies that stress the importance of their team’s psychological well-being are becoming much more successful not only in attracting new employees but in performance, than their rivals that still think free meals would be valued just as much.
We talked a lot about transparency as a rising trend in the business world. People are more careful in choosing which brands they use. The trend of sustainability affects the company’s environment the most, requiring them to be transparent about every step of product development, production, and logistics. The corporate purpose has to be clearly defined and should go beyond profit.
Organizations that are able to understand these trends and listen to the public will succeed in the 20s.