An In-Depth Look at Four 2023 Business Trends
This month we are focusing on four significant trends in business that are worth investigating. You may not feel the need to change your business model and processes, but we encourage you to examine areas that need tweaking. The new year is an excellent time for reflection and improvement.
Exploring Digital Innovation
Strides in innovation and AI will continue to change the world, but with those strides will come new learning curves. Some aspects will be for the better, but some might be wrong for your business. For example, keeping a personal, human element in your relationships, including your hiring process, is essential when dealing with people. Don’t rely solely on AI during recruiting; you will miss diamonds in the rough and non-traditional candidates. We recently experienced this firsthand with one of our clients, who hired the diamond we uncovered.
Another area where innovative strides will emerge is in the hybrid and remote working world. These include new applications and automation of manual, mundane, and routine tasks. Again, new applications can be game changers, but make sure you do some research before taking the plunge.
Digital Product Alert: Zapier is not a new application. However, it’s becoming a big part of the business process when you want to automate. Zapier is a free application that can connect just about any application to another by triggering an action that initiates the desired action. Zapier also has a paid option allowing for multiple-step actions. If you need an efficient way to automate mundane tasks, take a look at this helpful app.
Creating a Game-Changing Customer Experience
Giving clients and your customers the most outstanding experience possible is the way to create lasting relationships and repeat clients. We are hitting this topic more in-depth next month, so stay tuned!
Designing a Dynamic Employee Experience
Employee experience can be even more important than the customer experience. Nobody wants to be a toxic manager, and no one wants to work for you if you are. Take a look at your management style, your retention rate, and your team's opinion about you. If you haven’t heard, there’s a Great Resignation still in full swing, and “quiet quitting” is becoming even more popular if employees feel unappreciated. Here’s a great podcast to check out - Is Your Workplace Toxic?
Some other areas to review and then improve are the opportunities you offer to current team members. These can include flexible work options whenever possible and providing growth opportunities for each employee.
We’ve already hit on how advances in digital technology will affect your business, but it’s essential to consider how it affects your team. While people will continue to share the workload with computers and technology, some positions may be phased out. So find a way to retain those valuable team members by helping them learn a new skill. Remember, it’s easier to train a skill than it is to teach them to align with your values. So if you’ve got someone who is a good culture fit for your team, train them for a new role.
Maintaining a Cutting Edge Company Culture
We know we’re beginning to sound like a broken record. However, work culture remains of utmost importance - so we will play that record again. Ensuring your team’s working environment is positive should be one of your top priorities. Imagine a good portion of your team leaving in a short few weeks. What message are they sending you? We encourage you to pause, look inward, and find what needs to change.
Here are some things to consider when examining your work culture. First, are there any benefits you can expand? For example, can you give your team more holidays or offer five additional floating days of PTO? Another area to examine is a remote working option. Providing this benefit for your team can be a game changer in how they feel about their job. It also shows them that work-life balance and the needs of their family are important to you and your business.
Offering your team the opportunity to disconnect from work is another benefit demonstrating your commitment to work-life balance. We all need time to recharge, and recharging is difficult if your team feels obligated to respond to emails, calls, and messages after hours. Creating a 6 pm to 8 am connection rule allows team members the right to unplug.
Keeping up with what’s happening in the business world is essential. Focusing on trends can help your business and team grow while maintaining a positive work and customer environment. Don’t miss the opportunity to examine how you are doing business and what you can improve. Make this year better than the last.