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06 Jan

2021 New Year Business Goals and Strategies

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A new year oftentimes signifies a new chapter, which can be applied to personal and professional goals. As businesses continue recovering and addressing the COVID-19 situation into the new year, many are also strategizing new business goals. Here are a few business goals and strategies to consider in the new year.

  • Revamp Marketing. Perhaps your company underwent some hiccups in response to COVID-19’s impact on the economy. From developing timely, well-written employee and client communications, to pausing marketing efforts not directly impactful to the immediate clients’ needs, businesses likely had to adapt their approach to how they operate and finding a work-life balance. The new year is the time to re-evaluate your marketing efforts. Look at what worked and what didn’t – revamp what works and prepare to integrate it into the new year business strategies. For example, perhaps you sent out a communication that wasn’t effective (i.e., low engagement). Try A/B testing different aspects of the communication, such as subject lines, placement of links and buttons, images, etc. Stay in-tune with the latest social media marketing trends. Experiment with paid ads. Whatever marketing method that could improve your business, now is the time to try.
  • Improving Community Outreach. Even if you’re unable to donate monetary contributions, there are plenty of other ways to give back to your community. Discounts to your products and services that directly assist with a problem the community is facing (i.e., South Carolina Manufacturers Alliance donated face masks to law enforcement and two school districts), creating a volunteer day as a company-wide effort to volunteer at local organizations, and matching employee donations made to qualifying nonprofits are all examples of how you may improve or integrate community outreach.
  • Promoting Professional Development. January is National Mentoring Month, where business leaders and employees focus on collaboration and promoting networking and mentorship to young professionals. A great way to help incentivize employees in the new year is promoting professional development. Consider starting a mentoring program that raises awareness of the value mentoring offers, invests in high-performing workers to promote their roles to young professionals interested, and improve recruiting efforts. If you already have a mentoring program, conduct an audit to see what can be improved, as well as consider additional professional development opportunities, such as webinars, business summits, and tuition assistance.
  • Prioritizing Health and Wellness. Due to the nature of the COVID-19 pandemic, prioritizing health and wellness should be incorporated into your business goals and strategies. Across the globe, many countries only allocate 2% of their national health budgets on mental health. Yet, mental health-related issues* have skyrocketed as a direct impact of COVID (i.e., social isolation, financial disparities, and bereavement). Additionally, people cope with stress, anxiety, and other emotions stemming from the COVID-19 pandemic differently. The closure of fitness clubs, restaurants, and remote work have led to unhealthy habits, such as sleep disruption or altered sleep patterns, changes to eating habits, decrease in physical activity, and increased use of substances. Some ways to help combat unhealthy habits may include revamping employee benefit plans to employees’ needs, exploring ancillary benefits (i.e., telehealth, cross-border benefits, and financial wellness), and developing additional resources as needed (i.e., employee assistance program).

If you’re looking for innovative ways to improve your business strategy or need assistance in achieving your business goals, consider partnering with a trusted professional employer organization (PEO) like VensureHR. Our industry experts can provide you best practices, resources, tools, and exceptional support to ensure you boost your success in the new year. Contact us today to learn more!

 

*The Centers for Disease Control and Prevention has provided mental health information and resources.

 

 

Sources:

Entrepreneur

Inc.com


World Health Organization

Medical News Today

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