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4 Major Business Trends for 2023

What are the four hottest trends in the commercial world in 2023? Telecommuting, electric vehicle fleets, applicant tracking software, and outsourcing lead the way. Here are specifics about each one.

Telecommuting Becomes the Rule, Not the Exception

Home-based jobs were already gaining momentum, but the COVID pandemic of early 2020 shifted this trend into high gear. Now, particularly in the financial and IT industries, telecommuting, also called working from home via a secure connection, is the preferred business model for new hires and mid-level managers.

Commercial Fleets Go Electric

delivery

When those outside of the transport industry envision vehicle fleets, they typically think of huge numbers of 18-wheelers zipping from coast to coast. The reality is quite different. Most commercial vehicle fleets include small vans, automobiles, pickup trucks, passenger cars, buses, and non-18-wheelers of all types. Fleet managers are multi-taskers who keep tabs on parameters like average MPG, safe practices, routing, on-time delivery statistics, driver experience, and many more. 

In today’s business environment that emphasizes a shift away from combustion engines, one job for fleet management supervisors is to learn about electric vehicle (EV) efficiency. While most fleet supervisors already know that charging an electric car is a cost-efficient task, they set aside time to brush up on electric vehicle networks, the price of chargers, and what it takes to acquire a full-scale charger network for their fleets. Fortunately, there are excellent online resources that provide all the information they need.

Keyword Resumes Transform Hiring

For hire sign

Human resources managers are at the forefront of numerous trends, especially because they sit at the locus of incoming talent, new hires, and fresh teams of employees. The old way of evaluating any applicant began with a formal resume and cover letter. Large corporations are regularly inundated with unsolicited inquiries from new grads and working professionals who seek work. 

Now, sophisticated software programs called ATS (applicant tracking systems) can speed up recruitment and do much of the heavy lifting involved in screening candidates. One of the main functions of a top-notch ATS is to review resumes at lightning speed.

Algorithms use keyword searches based on managers’ parameters and criteria. Very seldom does a human being read a resume at the initial state. Instead, the system merely screens the documents and hunts for keywords. So, applicants whose documents lack those particular words won’t ever see the inside of an interview room.

Outsourcing Gains Momentum

freelancer on laptop

One of the more subtle trends of the decade is a slow drift toward outsourcing among business owners. Commercial enterprises have always sent a few chores to outside providers. With so many tasks that can be outsourced, the 2020s have witnessed a massive move toward the practice. 

It’s not unusual for a typical startup nowadays to perform less than 50% of all its work in-house. This principle is particularly true for sole proprietors and small professional partnerships, like medical practices, that outsource chores like IT, accounting, advertising, financial planning, billing, payroll, customer service, etc.

If the trend continues, it’s possible that entrepreneurs who operate e-commerce or other types of firms will only perform one or two core functions and send everything else to an outside provider.

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