Take Your Business to New Heights
The end of the year is the perfect time to pause and reflect on where your business is, where it’s going and what you need to do to get it there. To help ensure your company is on track for success, Adecco has prepared the following list of potential resolutions. If you aren’t already doing them, now’s the time to start.
Create a succession plan
When it comes to planning for the future, the time is now. Over the next few years, Baby Boomers will retire in record numbers, so don’t be caught off guard by staffing changes. Gather your top people together and create a succession planning strategy today. Determine your company’s most vital positions and then identify talented up-and-comers who could potentially fill those roles in the future. Be sure to create a plan that meets your long- and short-term needs, as this will allow you to develop your company’s long-range goals and focus on employee growth. At the same time, be prepared for emergency openings in key positions so that you aren’t left with a shortage of knowledge or qualified personnel.
Once you’ve decided on a succession planning strategy, it’s time to focus on talent management. Meet with the individuals you’ve identified for larger future roles to discuss their goals and assess their position on the career ladder. Then connect them with the training and mentorship opportunities needed to prepare them for the next step. This way, they’ll be ready to transition into a more senior role when necessary, and your business will be prepared to promote from within rather than scrambling for – and spending additional money hiring – qualified candidates once one of your key positions becomes available.
Review and revamp your training program
If your company doesn’t currently have a training program in place, there’s no time like the present to create one. If you want to retain and get the most out of your top people, you have to invest in them. That’s why an effective training and development plan is essential for leading companies in today’s business environment.
Organizations that have well-established programs to help employees develop their skills and that work to maintain and nurture a diverse and highly-talented workforce have a proven track record of business success and profitability over an extended period of time. Without such a program in place, employees’ job performance may suffer. In addition, they are more likely to become bored, restless and disengaged. This leads to higher turnover and an inability for your company to promote from within – both of which cost more in the long-term than investing in training for the talented staff you already have.
If you do have a training program, now is the time to examine it to ensure it meets the needs of your business – and your employees. While creating or revamping a training program may seem like an expensive and time-consuming prospect at the outset, it’s a crucial investment in your company’s future.
Promote a healthy work-life balance
Tired, stressed, burnt-out workers are unhappy and unproductive. So lead by example: show your employees that taking care of themselves should be a priority by making your own work-life balance a priority. Make time for friends, family, and hobbies outside of work. Leave the office for lunch a few times each week, and if you’re sick, stay home instead of bringing your germs to the office – you’ll be less likely to get others sick and you’ll heal faster. And no matter what, always use your vacation time – if you don’t, it’s possible your employees won’t feel comfortable using theirs.
Push your people to think outside the box
Who says the people in marketing are the only ones capable of being creative? Sure, it’s in their job description, but that shouldn’t mean they get to have all of the fun. Thinking outside the box and finding new, unconventional ways to deal with challenges can be helpful in other areas of your business as well. Encourage your various departments to hold informal brainstorming sessions as a way to resolve issues or increase business. By creating a safe environment for them to make suggestions, you’ll be tapping into your number one resource: your staff. Since they’re on the“frontlines in their respective area each day, your employees are likely to have practical insights into how your business is doing how to make improvements. This will also make it easier to identify your team’s top performers and thought leaders at review time.
Improve employee morale
Take the time to thank your people for their hard work, and be sure to let them know the value of their contributions and the impact their efforts have on the company as a whole. When people know that their work is appreciated, they work harder and are more loyal – and that’s just good for business.
Remember to focus on the positive
When you look back on the past year, don’t just zero in on the areas where your company can make improvements. While those are important, assessing the year as a whole means taking into consideration everything your business did right and taking pride in those accomplishments. So, be sure to keep the focus positive and move forward with the determination to do even better.