The beginning of January brings about new possibilities for small business owners. As a small business owner, New Year’s resolutions season is the perfect time for you to reevaluate your company’s vision and set concrete goals to achieve throughout the year. Are you unsure what resolutions you should make for your business this year? If so, let us walk you through New Year’s resolutions each small business owner should make.
Offer Better Employee Incentives
Most businesses rely on a combination of interesting work and excellent pay to retain talent. However, you might need more incentives to combat high employee turnover rates. Consider building a better rapport with each employee and establishing a new perk that appeals to everyone. We suggest creating at least one valuable incentive for each employee to love your company.
You can also revisit your benefits package. Are you not offering your team life insurance or supplemental benefits that aid in a comprehensive and competitive package? If not, consider making the change. According to Washington National, employers said that “supplemental insurance is more important than ever.”
Make Better Hiring Choices
As a small business owner, you understand that your company is only as successful as the people you hire. Since employees are the backbone of every company, you want to guarantee that you hire the right people. If you haven’t been employing the best hiring practices or don’t have time to invest in your recruiting services, consider outsourcing a company.
Consider Ways to Redefine Your Brand
You can redefine your brand from every angle during the New Year and every year. Do you want to stay ahead of your competitors? If so, it’s best to throw out the “If it isn’t broken, why fix it?” mentality. Consider improving your products, and focus on enhancing your customers’ experiences. Other things to consider are how you can drive employee engagement and ways to improve your company’s culture.
Keep Your Business Growing
Every year, it’s best to aim to make your business better than it ever was before. You can tackle the significant challenges stopping your business from growing with a growth mindset. At any point, regardless of the stage, your business is in, you can find ways to streamline your company and capitalize on these opportunities.
For example, every small business owner sets out ways to have a stable revenue stream. However, they rarely explore these strategies. Instead, they write down this goal without ever achieving it.
Partnering with Malden Solutions is One Way to Grow Your Business
Your company can offer high pay and exciting tasks to complete that never bore your employees. However, an inadequate benefits package is one thing that will make employees consider working for another company.
In 2022, Forbes shared a Consumer Affairs survey, which reported that one of the top five reasons workers want to quit their jobs is to seek better benefits. This reason falls at number two, with 42% of employees surveyed expressing this. Is your goal to combat this? If so, contact us to see what fantastic benefits we can offer your employees.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.