2022 Business Trends
As we look ahead to 2022, we are preparing our partners at Scandia for an exciting year of growth, returns and most importantly -- flexibility for our business partners. We are optimistic that consumer demand can push us through whatever Global Health Concerns come our way. Here are a few of the trends we see on the horizon for 2022:
Flexibility
Family Offices have been at the fore-front of funding flexibility, but now it is important for businesses to also commit to workplace flexibility for their team members. It’s something we are embracing at Scandia. With so many of our family office investment team members having family members, you need to enact flexible work environments to adapt to the changing dynamics. We’ve found that team members can be effective with some work-from-home and overall this mentality will support the family-first attitude we’ve adopted in light of the pandemic.
Embracing Tech
From the implementation of machine-learning or AI technology at your business to simply empowering your team with the latest tools, tech should be at the forefront of your 2022 strategy. If you’re not constantly looking to evolve the processes and systems of your business, you may be left behind from a tech standpoint. Make sure that you are investing adequately in technology to keep processes running smoothly in 2022.
Becoming More Agile - Consider Structure Changes
Many of our businesses saw tremendous changes in 2020 and 2021 and some have adapted. Business leaders who recognize that traditional structures of teams and management may need to evolve to facility the inclusion of freelancers and remote workers. Your business will be far more successful if you can be flexible with your structure and recognize when job descriptions and responsibilities need to change on the fly.
Being Purposeful - Creating a Strong Culture
With so many businesses struggling to retain talent these days, a tenant of success in 2022 will be creating a strong company culture (a positive one, at that!). If you can build momentum within your team this coming year, it will lead to higher retention rates and make recruiting much easier than at your competitor’s.
These are just a few of the guidelines we are looking at to drive our 2022 planning with Scandia’s family office partners.