Nothing is as constant as change. In contrast to short-term changes, megatrends are the background noise in the transformation of our society. These changes occur slowly but inexorably. They affect all levels of society and have an impact on companies, institutions and every individual. These megatrends form the basis for decisions in business, politics and on a personal level. In this article, we take a look at the 4 megatrends 2024 and what they mean.
For almost 25 years, the Zukunftsinstitut in Frankfurt has been studying the developments that will change our society in the long term. Unlike short-term fads or hypes, megatrends are characterized by a duration of several decades, affect all areas of life, can be found globally and are multidimensional. Topics such as globalization, individualization, new work, connectivity, health and demographic change are currently advancing developments. We have compiled the 4 most important megatrends for companies and employers for you.
The connectivity megatrend emphasizes that digital change is not just about new technologies, but above all about the social impact. As connectivity progresses, fundamental human needs such as trust, security and cultural aspects are becoming increasingly important for the design of digital business models and products.
Companies must therefore first and foremost develop a holistic understanding of digital change in order to take advantage of the opportunities presented by the connectivity megatrend.
This perspective should include not only technological, but also social and cultural aspects. It is essential to understand that our society is in the midst of an epoch-making evolutionary leap in order to successfully tackle this change.
At the same time, there is still a lot of uncertainty in the area of digitalization. What impact will artificial intelligence, blockchain, etc. have on our everyday lives? Typically, the impact of technology is overestimated in the short term, but underestimated in the long term.
Under the influence of digitalization and the post-growth movements, the understanding of work is undergoing a profound change: traditional careers are becoming less important, while the search for meaning is taking center stage. In everyday life, the boundaries between life and work are becoming blurred in a productive way.
In modern working life, employees strive for a seamless interplay between work and leisure, rather than a strict separation between the two. The motto is now "work-life blending", which enables a smooth transition between work and private life. This gives employees flexibility with regard to private commitments, promotes self-determined working and increases productivity. In addition to working hours, the place of work is also changing radically.
The coronavirus pandemic has shown that remote working is an important part of the new world of work and is working well. From van offices to café offices, remote work allows people to concentrate on their work in places where they like to spend time.
Under the term "workation", employees are now increasingly integrating their work into travel and linking special places with their professional activities. Confidence in the autonomous use of freedom promotes employee motivation and ultimately benefits the company. Future managers should therefore be prepared to let go if they want to retain their employees.
The main thing is healthy. Health as the basis for quality of life has become strongly etched in our consciousness. In an aging society, the risk of illness and the need for care are also increasing. But younger people are also more concerned with health thanks to sports, conscious nutrition, wareables to monitor body functions and sleep. Fit into old age is the motto. This is where the sports market and the health market merge to form the "medical fitness" trend.
At the same time, mental health is also receiving a great deal of attention through stress management, burnout prevention, and research into medications for neurodegenerative diseases such as Alzheimer's and dementia.
HR assumes part of these tasks in occupational health management. In addition to healthy food in the cafeteria and ergonomic workplaces, increased attention is being paid to dealing with stress and conflict management. Companies can also position themselves here in the war for talent, as workplace design, light, air and greenery are becoming increasingly important, especially for younger employees.
Our society is constantly on alert. One crisis follows another, and the corona pandemic and the war in Ukraine have made it unmistakably clear to us that life on this planet is fundamentally uncertain and fragile. As a result, safety is becoming more than ever a top priority for both individuals and society as a whole - and a major selling point. The question of who should be in a position to create security is increasingly coming into focus. And: how we can deal with insecurity in a constructive way.
Today, many more problems are considered relevant to security than in the past, which has led to a significant shift in responsibility for security: away from the state and towards society and the individual; away from military to economic, environmental and humanitarian security; from national to regional, international and global security. Perhaps one of the most significant changes is the shift from acute threat to vulnerability and risk.
People tend to assess risks and probabilities based on anecdotal reports, stories and images, with media coverage, especially in tabloids and social media, focusing on sudden, mostly negative, single events. This leads to our sense of security being influenced and people spending more money on their security by taking out more insurance to meet the need for a greater sense of security. After the biggest concern about cyber attacks, the focus has shifted back to health since coronavirus. In addition, the economic environment is currently threatening financial security. This shows how closely the security megatrend is linked to other megatrends such as connectivity, health, knowledge culture, mobility, etc. Digital health is intended to prevent health risks, car-to-car connectivity to avoid accidents and blockchain to increase trust and security in transactions.
Megatrends accompany us in the long term and change our society in the long term. At the same time, it is important for you as a company to observe these changes and adapt to them. After all, changing a corporate culture and developing new products to meet changing customer needs also takes time. Only those who deal with the megatrends in good time will not miss the boat.
How are things looking for you? Are the topics of connectivity, new work, health and safety already on the agenda? How are you aligning yourself with these megatrends?
Batterman Consulting Basel AG
Executive Search,
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