01 Feb Trends to look out for in Administration in 2019
Trends to look out for in Administration in 2019
It is important to stay ahead of the game when it comes to running your own business or as a Virtual Administrator in order to stay ahead of the game, know what might be around the corner and to give you that competitive advantage, both in term of profit, looking after your clients and your employees.
In this blog, we look at some of the subjects and trends that we predict will get even more important this year.
- Artificial intelligence becomes embedded in the workplace.
- Mental wellness
- Holding tight to see what happens with Brexit
- The aging workforce
- The Flexible Workforce.
- Companies taking diversity more seriously.
- Financial wellness
The topic with the biggest buzz in the workplace now is very much AI because there is both excitement and fear around the topic as it relates to how we do our jobs. Almost every new device and service will contain AI in the next few years. Google, Facebook, Amazon, Microsoft, Apple and others are focused on creating smarter products using AI and there are now over one thousand AI vendors supporting all types of companies and people.
Mental health, which has long been a stigma in the workplace, is now becoming something that is more common and accepted by leaders.More often Managers and HR Departments are taking on the role of mental health counsellors, helping support employees who have all sorts of mental health issues like depression, anxiety, bipolar and ADHD. While many of these disorders are hidden, 84% of employees have experienced physical, psychological or behavioural symptoms of poor mental health. Symptoms like depression can result in about five missed work days and 11.5 days of reduced productivity every three months,
The road ahead is uncertain, and no one really knows what impact coming out of the EU will have on business, both large and small.You may see business pull back when it comes to spending, employing or changing until plans become clearer.
The workforce is continuing to age, with baby boomers living longer than previous generations and retiring later. People plan to work past retirement age and almost two-thirds said they will continue to work part-time. Companies are preparing for this projected increase in older workers and it will come at a major cost to companies in the form of retirement benefits, healthcare and equal opportunity. As baby boomers maintain their leadership positions, it will be harder for younger workers to rise in their organizations and could lead to higher turnover, stress and frustration.
Outsourcing, Virtual Administrators, AI, working from home, working different hours, job sharing, and all the other variations will only continue to become more prevalent as the options for productivity and efficiency increase.
While the subject of diversity has become the topic of conversation for years, it has almost reaching a tipping point, where companies are investing money in improving the composition of their workforce.
Many workers are struggling and it’s affecting their health. Workers are stressed out, burned out and it’s affecting not only their productivity but their satisfaction on the job. More than a quarter of millennials say financial stress affects their job performance and made them feel physically ill and depressed. Nearly half of employees have financial concerns, causing them to lose an average of six productive work days annually. As a result, there are numerous companies that are helping employees payback student loans to ease their financial burdens.
If you would like to chat through how we at Starfish Admin Services can help you stay on top of the trends and fast-paced movement in the workplace this year; saving time, money and regain control then call me on +44 (0) 7514 780 025 or book your call here.
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