How Will The Workplace Dynamics Change in 2020…

By: First Union


How Will The Workplace Dynamics Change in 2020…

Over the past decade, without question, the face of the traditional workplace has changed. From more employees working remotely, to company owners outsourcing more jobs, to even the physical space itself becoming more open, flexible and thus conducive to collaboration, office trends are completely redefining the phrase "going to work." So what can we expect in 2020…Below are a few of the key changes you can expect to see take workplaces by storm.

Even More Freelance Work

The typical 9 to 5 is steadily be replaced. People want more flexible work terms; they want more of a variety as far as the projects on which they work. Term workers and freelancers are on the rise. Companies will contract out work to individuals, and rather than remaining with one company for a duration of a period of years, such professionals are employed by a variety of firms, doing a multitude of projects. Estimates suggest that by the end of 2020 more than forty percent of all US workers will be independent contractors.

Companies Going Remote

The rise of co-work spaces directly coincides with the fact that numerous companies are starting to operate 100% remotely; meaning, there is no traditional office per se. Meetings are held via video conference sessions. Some firms even have people across several different countries and time zones. This is more and more becoming the norm and in 2020 experts say that 50% of the country's workers will be remotely employed.

The Rise Of Artificial Intelligence

Automated approaches to just about every facet of business are poised to upend the world of work this coming year. From the increasing popularity of chatbots to decisions being driven by data and analytics, a business's reliance on AI technology is going to become the norm very quickly. Even those tasks that are seemingly considered nonroutine, will slowly be more dependent on artificial intelligence. And especially with things such as recruitment, AI is completely reshaping how a company approaches finding, assessing and hiring employees.

Is your small business ready for 2020? First Union Lending can help you implement the latest trends and technological advances. Call today to see how our business loans can help you thrive and grow.

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