This time of year presents a fantastic opportunity to ensure that your staff are fully on board with your big strategic goals. By now, you’ve no doubt considered what you need to do to tap into the general feeling of renewed motivation. But are there things going on beneath the surface that you need to consider? And are there potential threats that could harm your business as we kick off a new year?
A real worry that many business owners will have right now is losing their top talent. People often reassess their goals in January, and if your business isn’t staying ahead of the game, then you may well find that your best members of staff are looking for new roles. You might think that this isn’t happening, but the reality is that it can be hard to gauge what’s going on beneath the surface.
So what should you do about it?
Well, it goes without saying that you can hardly tie your staff to their desks. Even the best businesses lose valued employees from time to time, and though it’s costly to replace them, it’s something that you’ll no doubt have to deal with occasionally.
Now’s a great time to do an audit, and establish the current climate in your workforce. How you would cope if your staff did decide to move on to pastures new? It’s always sensible to have a succession plan in place, so you don’t find yourself with an operational disaster on your hands.
You should also consider what you can do to improve your retention rates. It’s easy to jump to the assumption that it always comes down to cash, and that keeping your best people involves regular pay rises and bonuses. This isn’t always the case though. Retention levels are impacted by a wide variety of factors, and you may need to take a closer look at how you can get creative without blowing your budget.
If you need some help with ensuring that your business is fighting fit for the year ahead, then get in touch and arrange your no-obligation consultation.