6 Buzzwords You Can’t Miss in the Business World in 2018
Remember last year I shared with you 6 buzzwords that I predicted you’ll be hearing of in 2017? Do you recall any of them? More so, did any of them find their way into your normal corporate language? If not, there’s a good chance we won’t be hearing the last of them. And that’s because the momentum behind these buzzwords is still growing and continues to keep them still relevant in 2018.
Consider last year’s buzzwords intrapreneur and storytelling – you’ll still need to build strategies around them to engage and motivate your talent. And then there was Return on Relationship, Push Tolerance and Amplify which basically spell out the urgency that businesses need to continue to grow. The more we use these buzzwords in our daily corporate language we realize just how important they are in what we do and how we want to do business.
So what’s 2018 got in store for us in terms of buzzwords? Let’s take a look.
Sure this word isn’t new and nor is it going to be used any more than it already has been. So why is it a buzzword for 2018? That’s because you can’t escape millennials. They aren’t the future anymore. In fact they are very much the present. Millennials will make up more than one in three of your workforce by 2020 and by 2025 they’ll reach 75%. It’s safe to say millennials will be who you’ll employ, groom, develop, retain and rely on to do business. But that’s not the only place you’ll be dealing with millennials. From a consumer perspective, millennials spend close to $600 billion a year. That essentially means your products and services will heavily rely on the business of millennials. Everything you do in 2018, whether you’re growing your team or strategizing your product offerings, you can’t avoid this growing group. Like I said, there’s no escaping them!
2. Internet of Things (IoT)
The concept of IoT isn’t a new one, however, it’s becoming more and more prevalent in recent years. And that’s largely due to widely available and affordable internet and enhanced networking capabilities. But what is IoT? To explain it plainly, it’s a concept of connecting any device to the internet and with each other. So if you’ve converted your home to a smart home or synced your mobile device, wearable gadget, desktop and cloud then you’ve successfully implemented the concept of IoT. What’s more is that its application isn’t limited to personal and home use alone. Various components of machines such as jet engines of an airplane or drills of an oil rig are also being connected to enhance efficiencies and monitoring. So why will it be a buzzword in 2018? Well analysts predict that by 2020 we’ll have 26 billion connected devices. At such a magnitude you can expect the Internet of Things to be taking over every aspect of our personal and professional lives.
3. Agile Talent
I’ve talked about agile talent before and yes, in 2018 they’ll still be the predominantly preferred talent that you’ll turn to. The more you avoid it the more likely you are to run your business and employees into complacency. Agile talent, i.e. talent that’s flexible, remote and unbound, is your true chance of really tapping into fresh intelligence that’s easier to retain and employ and faster to gain benefit from. These are the talent that’ll be most sought after in 2018.
I’m sure you’re quite familiar with Bitcoin – Blockchain’s popular and well known cousin which continues to fascinate everyone particularly with its mind blowing gains last year. However, blockchain itself is no stranger. In fact, Gartner noted a 400% increase in searches of the term in the past 12 months, testament to how popular blockchain is becoming. Sure financial institutes are more inclined to reap the benefits of this amazing tool, however, you’ll be surprised just how lucrative it can be for the healthcare, entertainment and hospitality industries as well. And despite the transition to blockchain being gradual, it’s here to stay and it’s most definitely gaining pace.
Now here’s an interesting buzzword that has fast been gaining a lot of traction – triggering. More than it suggesting that something is going to be ‘activated’ (triggered), the word ‘triggering’ is finding its use to emphasize how extraordinarily exciting and invigorating something can and ought to be. In a way suggests that the word it’s describing is a super-catalyst. Take the example of this statement: “This promotion triggers the consumer.” What that suggests is just how excited and reactive consumers will be from the promotion. And that’s how the business world’s strategies, purpose and goals will be in 2018. Just imagine corporate strategies and purposes that triggers employees. Powerful isn’t it.
I know you’re probably thinking that among all the ‘fancy’ words I’ve already mentioned how does ‘mindfulness’ find its place as a buzzword of 2018. Well, considering how rapidly things are changing and evolving are we not running our minds on hyper overdrive? 2018 will focus on mental health, wellbeing and strength. It’s going to test us all, mentally more than physically. The year will be unnerving and sometimes unforgiving as well. To deal with the challenges ahead we’ll need sound mental health. Correction, we’ll need mental strength! Without it, we’ll be hit with mind blocks, mental fatigue, burnout, brain drain and anxiety. All of these are the perfect ingredients of failure. Hence, 2018 will see us focusing on mindfulness – in what we do, how we do it, and with what values.
Like 2017 and the years before it, buzzwords will find a way into our language and be widely used to explain our ideologies and facilitate our daily business. I’m sure along the way we’ll hear of more buzzwords and pick some along the way. But for now, these 6 will be much talked about, as I predict them to be.
Have you been hearing of any buzzwords that you feel will get popular during the year? Do share them with us.
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