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Business Change & Transformation: 2023 Predictions

  • Publish Date: Posted about 1 year ago
  • Author:by Barry McDonald

Businesses have come up against significant challenges and have undergone an incredible amount of changes over the past few years. This means that they’ve had to be agile and adapt quickly with this showing no sign of slowing down in 2023.

Some of the circumstances which have proved to be catalysts for change include post-pandemic recovery, the Ukraine invasion, rising inflation, supply chain uncertainties, and the fast evolution of technology.

That being said, here are the top business change and transformation (BC&T) trends we believe will have the greatest impact on the way we work moving forwards…

Increased digital transformation

In 2023, we’ll witness developments in transformative technologies such as AI, IoT, VR, AR and super-fast network protocols like 5G. They will go on to inform and enhance new ways of hybrid and remote working, commercial decision-making, and the automation of manual, often mundane, workloads.

To prepare for this, businesses must ensure they understand and embed the right tech throughout their processes and in every area of operations. This includes more effective sales and marketing, better customer service, more efficient supply chains and more streamlined products and services that are aligned with consumer needs. In 2023, the barriers to accessing this type of tech will be lower than ever, with many models accessible via the cloud, as well as easy-to-use new apps and interfaces.

Rising inflation vs supply chain security

The economic outlook for 2023 looks set to be impacted by ongoing inflation increases. Meanwhile, many industries continue to be affected by supply chain issues that emerged during Covid and were further affected by the Ukraine war.

To combat this, companies need to improve resilience by reducing their exposure to volatile market pricing of consumer goods. They also need to map out, identify and add contingency measures - such as using alternative suppliers - into supply chains to deal with unpredicted shortages and rising costs.

A focus on sustainability

As events like COP and government net zero targets rise to the fore, people are increasingly acknowledging the fact that climate change will pose a huge challenge to businesses moving forwards.

The knock-on effect will result in a shift in priorities as investors and consumers place their trust in organisations that have solid ESG and CSR credentials and processes in place with a view to increasing transparency, reporting, and accountability across their entire ecosystem. In addition, buying trends are increasingly being driven by conscious consumers who care about their ecological footprint and are switching brand allegiances as a result.

Offering interactive customer experiences

In 2023, customers will want to enjoy a personalised experience when it comes to choosing, purchasing, and enjoying the goods and services they spend their money on. The role that technology plays here, traditionally, has been to streamline processes and remove any hassle or stress, such as via recommendation engines, online customer service portals or after-sales support.

These will still be important functions in 2023, but they will evolve to encompass inclusive elements. For example, the metaverse, where people will interact with brands and fellow consumers through immersive technology, including VR, is where this will likely play out.

To that end, people will have an enhanced experience as they are given the choice to browse and sample goods in online shops using virtual dressing rooms and avatars.

Attracting the best talent

As well as honing in on the customer experience, businesses increasingly need to think about employee experience as the battle to win the most talented workers intensifies. This comes as significant numbers of skilled professionals underwent the great resignation and quiet quitting in a bid to strike a better work-life balance. This, in turn, placed pressure on employers to ensure that they provide attractive careers with the offer of development opportunities, flexible working and great company culture.

On top of that, the aforementioned acceleration of digital transformation will lead to increased workplace automation, which has huge implications for the skills and talent that companies will require in the future.

People will need to be re-skilled and up-skilled in data science, machine learning and AI to take on new processes and work in harmony with this technology. They also need to ensure that they sharpen their skills and apply them to actions which can’t be automated, such as critical thinking and leadership.

How MERJE can help to meet your BC&T goals

In 2022 we launched a dedicated discipline focusing on BC&T recruitment because we recognised that the commercial landscape is shifting all the time. Whatever market your company is in, continuously altering internal and external factors means you can’t afford to rest on your laurels.

Whether you’re adhering to new accounting regulations, keeping up with consumer trends, moving into the digital world, the need for businesses to change and transform is constant and perpetual, as is the need for the talent that comes with it.

This means, alongside our other specialist areas of knowledge, we can offer hiring services for teams focused on change, transformation, continuous improvement, programme management, product, business readiness and more.

Fitting in comfortably with the rest of our recruitment expertise, we cover both permanent and interim roles throughout the UK, specialising in mid-senior and c-suite level appointments across a host of industries.

If you’d like some advice around your BC&T requirements, please contact:

Neil Johns – Director, Customer Contact, Business Change & Transformation

0161 883 2743

njohns@merje.com.

Barry McDonald – Business Manager, Customer Contact, Business Change & Transformation (Scotland)

0141 737 2479

bmcdonald@merje.com