The end of a year is a time when many people reflect on the previous 12 months, they look back at what has gone well, what could have gone better and start planning ahead for what is yet to come.
Every business will have faced its own challenges in 2022, this time last year who would have imagined that we would be dealing with the current cost of living crisis and what that means for businesses of all sizes? No doubt 2023 will throw us the odd curve ball as well and businesses will need to try their best to be agile and flexible so that they can survive and hopefully thrive.
There will always be wider issues that impact a business but by planning ahead and controlling what you can, your business will be all the better for it. Here’s some helpful HR related tips for what plans you could be making for your team:
Salary & Benefits Reviews
With increasing outgoings on things like the weekly shop, petrol, gas and electricity, employees are having to make some tough decisions and salary increases are overall way behind inflation which means a real terms reduction in earnings. For businesses this is a double-edged sword, the overwhelming majority will want to support their employees but need to balance that with increases in their own operating costs. Employers can at least though commit to reviewing salaries and benefits to determine what is affordable and sustainable. It may be a percentage salary increase or a one-off payment, there are also many benefits providers who can offer low or zero cost initiatives to support your team with things like shopping discounts and financial wellbeing advice.
Communication & Engagement
Uncertainty breeds rumour, misinformation and discontent, the consequences of which include low morale, low engagement and low productivity, none of which are good for business. If you don’t already do so, then make sure that you plan in regular communication and engagement with your team in 2023. It could be a monthly or quarterly update on sales figures, it could be regular team time where you take time away from the day job to do some bonding or something like a stop, start, continue workshop, or you could have sessions where the MD updates everyone about progress on the business plan. The key is planning ahead your communication and engagement activities so that employees feel engaged, things are clear and they know and understand what is happening and why and they have the opportunity to ask questions.
Training & Development
Increasing the skills and knowledge of your team is vital for the ongoing success of your business. Talk to everyone and find out what they want to do, how it will improve the business and whether you can help them to achieve these aspirations. There’s a whole host of free and low cost training available and so planning ahead on training throughout the year should be possible. If managed and planned correctly training should give you a return on investment and it will also help you with employee retention and reduce the costs associated with turnover.
Wellbeing
January is typically a month where people suffer from low mood and the “January Blues”, but employers should consider wellbeing for the other 11 months of the year as well. Again, there are lots of free resources available so supporting employees isn’t going to affect your bottom line but it could instigate change for the better. Have a look at sites such as Action For Happiness for some ideas and inspiration on things to do. Plan some themed wellbeing communication, research what services are available locally via The Hub Of Hope and plan regular signposting to them so that anyone who might be struggling knows what support is available on their door step. You should also promote a positive work life balance and this can be planned through regularly keeping an eye on employees working excessive hours, or who are sending emails late at night or early in the morning so that you can then engage them in conversation and support their wellbeing through appropriate interventions.
By planning ahead, you are setting in place important foundations to build your business structure and strategy upon. Planning means that your business is ready and that in the majority of instances you are able to be proactive, which then gives you more capacity and resilience when you are faced with changing circumstances in which you have to adopt a reactive approach.
Do you have questions about Planning Ahead?
Give us a call at CUBE HR 01282 678321, we’ll be happy to advise you and we have policies and templates available to meet every HR need.
Why not check out our blog on a similar topic Succession Planning – Is It Important?
We also have a YouTube channel with loads of handy videos.
