How monitoring can help boards better respond to shifting trends

2. Behavioral economy

Human behavior is now a commodity. As such, businesses need to delve into how consumers are making decisions, what types of consumers are emerging, and what new consumer segments are being created. And with research revealing that consumers are more likely to purchase from companies that are practicing CSR, businesses need to make sure they are focusing on purpose as much as profits.

3. Future of thinking

The push for technological transformation was powerful before COVID-19 hit and since then it has only amplified. Technology is changing how we think and work. While it can streamline processes and boost production, it is also creating challenges with respect to trust – both from consumers and employees. Boards and the C-suite need to find a balance between technologies that enable talent to move on to higher-value activities, while simultaneously preserving human centricity. Organizations must also mitigate cyber risks, which include such  things as disinformation, phishing and malware.

4. Work and life unbounded

The lines between work, leisure and learning are blurring. The pandemic has blurred these boundaries even further, highlighting the importance of the workforce and its well-being. Boards must prioritize the needs and desires of the organization’s best asset: its people. The focus should be on the work environment, health and safety, job satisfaction, benefits and productivity.