Business Initiatives to Prioritize in 2023

To see business growth in 2023, you must focus on improving strategy, company culture, and employee engagement. Floro Business Strategies has compiled a list of business initiatives for each of these categories:

Strategy

Strategic initiatives relate to how an organization aims to accomplish their short-term and long-term goals. Executives are constantly searching for ways to increase efficiency, productivity, and revenue. In 2023, consider implementing these strategic initiatives to achieve your goals:

• Hold structured, time efficient and measurable departmental meetings (individual and departmental success = organizational success)
• Replace outdated technology with new, efficient equipment
• Adopt new analytics software and track your progress using KPIs
• Invest in business alignment coaching to ensure your actions are aligned with the organization’s mission, vision, and values
• Invest in executive coaching to improve leadership skills

Culture

Company culture is all about the attitudes and behaviors of an organization and its employees. What is your work environment like? How does everyone interact with one another? How does company culture support your employees in performing their jobs? Review your hiring process. Are the employees you hire “a fit” for your organization? Ultimately, a toxic work environment will result in high employee turnover. Here are some ideas for improving company culture:

• Offer flexible hours or remote/hybrid opportunities for a better work-life balance
• Create a social calendar that allows employees to make connections outside of work
• Plan team-building activities
• Reward employees with additional perks like Casual Fridays, lunch on Mondays, etc.

Employee Engagement

Every organization wants to retain top talent. To decrease employee turnover, find ways to keep your employees engaged and passionate about their work. Here are a few ideas for keeping your employees engaged in 2023:

• Encourage open dialogue by implementing a “suggestions box” or open the floor to employees to share their thoughts during daily/weekly meetings
• Conduct employee surveys to solicit input and share the results
• Send “thank you” notes/emails or treats/gift cards for a job well done
• Offer opportunities for continued education (classes or certifications)
• Schedule time for quarterly or annual reviews
• Offer raises and promotions for a job well done

Looking to grow your business in 2023? Invest in business consulting! Floro Business Strategies offers a wide range of coaching services, including executive coaching, business alignment, succession planning, and more. Contact us today!

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