By ROGER BOSTDORFF
Wood County currently has an unemployment rate of 2.9 percent. Full employment is defined at 3 percent. The dynamics between the employer and employee has changed.
From absenteeism related to Covid-19 through supply chain issues, and morale, what it takes to lead and manage effectively has dramatically changed over the past two years. As you prepare for the upcoming year and beyond, addressing these areas will help you carve a path to success.
Nurture relationships with your team – In what’s being referred to as “The Great Resignation,” one in four employees quit their jobs last year, according to a CNBC report. Leaders need to be tuned into their teams and have the flexibility to accommodate needs to combat this. Employees care how much you know when they know how much you care!
Invest in development – Employees rate the importance of career growth and opportunity higher than salary, yet only one in five would recommend their company’s learning development opportunities. Just as business leaders can benefit from additional training to meet the needs of today’s workforce, employees will feel more loyal and better equipped for the future with additional training too. Does your organization have an employee training review session for each of your employees?
Forecast and be ready to pivot – Constant economic shifts mean businesses must be running their numbers far more often and be ready to pivot as new information emerges. This ensures the business is agile enough to reduce or increase budgets quickly as needed yet can also seize opportunities to gain competitive edge in stronger times. Stay on top of your results throughout the year!!
Evaluate your client experience – Customer loyalty is hard to come by these days, which is why more than 80 percent of brands are increasing their investment in loyalty by 5 percent or more this year, per Forester. What are you doing to increase customer loyalty? Are you tracking what your customers think of dealing with your organization? It costs much less to keep a customer than to find a new one!
Leverage tech, but stay human – Certain forms of technology, like creating a LinkedIn presence (social media), automating customer satisfaction reporting, are helping businesses improve customer experiences, but those leveraging tech at the expense of the human touch are making headlines with their mistakes. People buy from who they like and trust.
This article was adapted from/inspired by a recent LinkedIn post. Roger Bostdorff is the President of B2B Sales Boost. He spent over 30 years with IBM in sales and sales management. He then became President/COO of a small internet security company before founding B2B Sales Boost, LLC. B2B Sales Boost, LLC is a consulting company helping organizations improve their sales and overall business processes. You can find more about B2B Sales Boost on the web at b2bsalesboost.com or calling 419-351-4347. If you would like to receive the B2B Sales Boost Newsletter, send an email to email@example.com.