Businesses must rethink growth strategies as people examine relationships with work, brands, planet: Report

Nearly two years of disruption to the fabric of society has resulted in a collective shift in people’s relationships with work, consumerism, technology and the planet, pushing companies to design new ways of doing business, according to Accenture’s annual Fjord Trends report.

Why it matters

Newly identified behaviours will challenge businesses to rethink their approach to design, innovation and growth as a result of the shifts in employee expectations and mindset, scarcity caused by disrupted supply chains, and new virtual environments such as the metaverse.

Key insights

• The growing sense of agency that people have over their lives two years into the pandemic is affecting the way they work, relate and consume.
• People are questioning who they are and what matters to them, and the rising individualism underlined by a “me over we” mentality has profound implications.
• Organisations have to rethink how they lead their employees, how they shape a new employee value proposition and how they nurture company–customer relationships.
• Supply chain shortages may be temporary but will lead to a shift in “abundance thinking” built on availability, convenience and speed, to greater consciousness about the environment.
• The metaverse will be a new frontier of the internet, combining all the existing layers of information, interfaces and spaces with which people interact.
• It offers a new place to make money, is creating new job types and offers infinite brand possibilities that people will expect businesses to help build and navigate.
• It won’t just exist through screens and headsets – it will also be about real-world experiences and places that interact with the digital world.

Quote

“In looking at the drastic changes in relationships that people have with work, consumerism, technology and the planet, one thing stands out: businesses today must build organisations that matter – that matter to their employees seeking a meaningful employee experience; that matter to their customers in living out their purpose; and that matter to the community and wider society looking for positive change and sustainable options.” – Flaviano Faleiro, President of Accenture Interactive for growth markets.