With the changes in demographics, progressive business insights, and massive adoption of digital technologies, Canadian businesses will experience a different view in the coming years.

Some trends that reflect the profound changes, and can transform your company are reflected below. Some tips are offered regarding how organizations can adapt and thrive.

Increased cultural diversity

Stats show that over three quarters of Canada’s population growth will come from the immigrant families by 2032. It means that this segment of population will contribute significantly to the raise of workforce. What your organization can do to take advantage of:

capitalize on the government programs
introduce your company to immigrant communities
take advantage of the strength shown by immigrant workers
provide training customized to specifics of the changing markets

Raising millennial workforce

In about a decade, more than half of workforce will consist of millennials and Generation Z. Your company can benefit from having younger workforce in many ways:

invest in suitable, practical training
develop leaders within your business
increase efficient use of social media to introduce your company, present its capabilities
create valued partnerships with educational institutions

Increased number of aging workers

The working-age labour it’s about to approach 0.2% growth rate this year and these specific actions are meant to improve the workplace:

develop mentorship and promote communication between members of different generations
improve benefits and compensation for all workers based on merit
inspire workforce to contribute to a more helpful, considerate and cooperative work environment
encourage brainstorming and actions to boos productivity

Development of automation in business activities

By this year, about 400 thousand units annual production of robots has been completed which changes certain aspects of your usual business. Taking these actions will increase your chances of success in the changing markets:

increase employees involvement to make decisions of purchasing new technology
use your negotiation skills to acquire best tech for fair prices
create a clear map of your business processes for short-term and long-term goals
outsource some of your activities which cost you much more inside your business now

Growth of data economy

The number of devices to be connect to the internet worldwide will reach an astounding 75 billion by 2025. Adapting to this direction your organization could:

start customizing and personalizing offers using relevant data
increase management efficiency applying dashboards
boost the data tools assistance
retain an innovative, effective CRM

Virtual marketplaces boost

E-commerce retail sales is projected to increase to $56 billion by the end of 2020. Taking this into consideration you could focus on how to:

amplify your presence in social media
improve learning on attracting online customers
create a solid image in all your online aspects
manage your progress by measuring the results

Knowing the new directions which some have already come into place and they will settle by the end of the decade. They could help you adjust to an emerging environment having the appropriate tools you empower yourself with.