Understanding Future Labor Force Trends and Their Potential Impacts

Understanding Future Labor Force Trends and Their Potential Impacts

For any small or large business owner, understanding current workforce trends is a crucial factor in being able to adapt for the future. If you want to ensure your business continues to grow and thrive in the coming years, adapting to new trends is essential. Numerous labor force trends may continue in the future, from telecommuting to implementing cutting-edge office technology and more. Here are the main trends you may want to track, as well as the potential impacts they could have on workers across industries.

More Employees Than Ever May Be Interested in Telecommuting Full-Time

One top trend to watch is a greater interest in, and greater availability of, remote work options. More employees than ever may be interested in telecommuting to work full-time, rather than coming to an office in person. There are several reasons why you may hear this particular request from your employees. For instance, telecommuting allows many workers to cut down on personal and monetary costs such as:

  • Time spent in cars or other modes of transportation
  • Gas and repair expenses
  • Professional wardrobe and upkeep expenses
  • Office Supplies
  • Childcare expenses

New Office Technology May Reduce Busy Work and Wasted Time for Workers

As office technology continues to evolve, more offices may adopt cutting-edge technology to reduce wasted time and busywork. You may want to consider reading up on the latest innovations in your field to ensure your offices are keeping up with those of your competitors. Although technology is always progressing to new stages, some top pieces of tech to watch may include:

  • Automated visitor management systems
  • Integration calendars and scheduling systems
  • Cloud-based storage
  • Teleconferencing tools
  • Customized lighting systems

More Companies May Offer Their Workers Exceptional Benefits Packages

Another interesting labor force trend is the expansion of many companies’ benefits packages. More businesses in various industries are choosing to offer exceptional benefits as a way to keep workers content. Some of these newly expanded packages may include perks such as:

  • Unlimited sick leave
  • Additional paid vacation days
  • Hybrid work options
  • Life insurance
  • Dental care and/or vision care
  • Short- and long-term disability coverage

To maintain a thriving business, adapt to new industry standards, and stay afloat in a competitive environment in the coming years, your company needs to understand top workforce trends and the potential impacts they could have. From an emerging interest in telecommuting to new office technology to beefed-up benefits packages and more, there are several key labor force trends to consider tracking closely going forward.

Contact Brightview Commercial Capital today for more information about our commercial finance products. One of our consultants will provide a free analysis of your business’s financial standing and assist you with the free, no-obligation application.