Have you started to think about how you’ll maximise your profits this festive season? Savvy business owners are starting to pull together their plans and ensure that they’ve built some strong foundations for success. Of course though, some expert guidance can really make all the difference, and that’s what we’re here to provide.
Perhaps you’re feeling confused at the prospect of receiving profit-boosting tips from an HR professional. Surely we just take care of the ‘people issues’, leaving the tasks like income generation and new client acquisition to the marketing or sales teams? Well actually, that’s not the case. HR isn’t a function operating on its own. When it’s done correctly, it adds real value to the business, and is strategic as well as operational.
Make sure your staff are upskilled in key areas
You probably already run regular training sessions throughout the year. As an ambitious leader, you’ll appreciate the importance of giving your staff the support they need to excel in their roles. It’s time build on that though, and consider what you can do take things up to the next level.
You might want to consider some initial or refresher training on things like:
- Identifying upselling opportunities and making the sale
- Delivering exceptional customer service during busier periods
- Understanding product and service lines
- Leading and managing in stressful circumstances
- Handling customer complaints
Balance your books
You might have decided that you need to recruit some temporary team members to help you to deal with an increased demand. Before you go ahead with this though, you need to ensure that you’ve struck the right kind of balance. Recruit too many, and your profits will take a hit. But if you don’t recruit enough, you could miss opportunities due to operational constraints.
There’s no ‘one size fits all’ approach here. It’s not possible to say that a business of a certain size will need ten seasonal workers, for example. It’s about getting down to the nitty-gritty and making calculated estimates that fit with your ways of working and overall goals.
Assess performance throughout the rush
Christmas offers your employees a time to shine. If you get caught up in the rush, and all your usual people management processes get forgotten, you could really be missing out. Be sure that your managers know to keep their eyes and ears open. You might discover that a certain member of staff really excels when it comes to upselling. Or an individual might step up to the plate and show they’re future leadership material.
If you didn’t have these considerations in the back of your mind, you’d be going into the New Year unprepared. Whilst you may be focused mainly on the Christmas rush at present, don’t forget that what you’re doing right now will have a direct impact on your future profits.
Each and every business out there is different, so whilst these tips will get you off to the best possible start, there will be countless other unique opportunities that will allow you to get the most out of your greatest asset; your people, so you can really drive up your profits. Give us a call today and see how a really good HR professional can help you look at these areas and add real value by helping you to achieve your business plans.