Forecasts and trends: Business in 2016

It is that time of the year again when industry observers share their insights on what’s in store for companies in the next 12 months. If 2015 was marked by high-profile mergers, jittery financial markets, shrinking economies, and corporate blunders, will 2016 follow the same path or a different road? Below are three projections for the coming year:

 More gigs to come: The so-called “gig economy” or an environment wherein temporary positions are prevalent and companies tap independent workers for short-term projects has finally made its mark this year. A 2015 survey by Freelancers Union of over 1,000 U.S. workers revealed that 34 percent had done freelance work over the past year, and 60 percent of them credit more than 25 percent of their income from such gig.

While there is still an ongoing debate on how exactly such employment model will benefit both independent contractors and organizations in the long-term, the fact remains that freelance work will continue to multiply, with more people looking to supplement their income and to inject more flexibility in their schedule.

Image source: theselfemployed.com

Technology will still rule. While the introduction of new technology in one way or the other has resulted in disruption, observers believe that 2016 will be the year the business community will witness a transformation in various segments. For instance, work mobility or the ability to work from anywhere, anytime, and on any device, will be primarily driven by technology. And with more workers, especially millennials favoring such setup, 2016 will see more advanced technology, devices, and tools that will support work flexibility and boost productivity.

Another use of advanced technology in business is in security. With more reports of data breaches and hacking, companies are looking for more stringent measures to protect sensitive information. And technology will play a key role in keeping data secure from malicious attacks.

Image source: mhlnews.com

It will be all about the [user] experience. Companies must acknowledge the fact that in the mobile age, customers expect actions to be completed in just a single tap. Gone are the days of waiting for advances in technology has allowed companies to offer their customers seamless and enriching experience.

For a truly rich user experience, companies will need to convert existing processes from analog to digital, to fully embrace the cloud, to boost their big data allocation, to solidify further their mobile strategy, and to smartly harness the power of social media.