These are some top trends to help SMEs achieve their best performance in the New Year.
Focus on HR
Australia is facing a war for the best talent. Investing in your employees is a great idea in 2022. Retaining good people will also help you achieve your goals sooner. This is the year to establish yourself as a real workplace of choice. Focus on training staff, providing career opportunities, creating a great work culture, and cultivating teamwork. The best PR is always word of mouth. Make your office a place where staff want to work so they will spread good news about your company and attract new recruits.
Risk is part of life but there are ways to limit threats to your business. Making sure you have the right insurance in place is a big part of this. Ensure you have policies to cover things like cyber security incidents, theft of employee data or customer records, loss of data, and key-man insurance if you are in a business partnership. Here at dmca we recommend regularly reviewing your insurance policies, so you have the right amount of cover for your business every year.
Continue to be agile
Make sure you have a solid business plan but get used to adapting as you need to and don’t be afraid to seek professional advice if things are getting tricky. Manage possible issues before they turn into real problems. This includes making sure you keep an eye on cashflow. Start reviewing all ongoing contracts, comparing rates for loans and business costs, and looking out for the best deal. Speak to your dmca adviser about the structure of your business to see if it is still the best fit as you grow.
Enhance your customer service
What a customer thinks of you is important – you need to make their experience top class so they will reward you with positive endorsements. Success often depends on ensuring customers are happy with the interactions they have with your company. This is part of your branding. Smaller companies have an advantage and often do customer service better. SMEs are able to establish a real relationship and can respond to a customer’s needs faster. Even just learning someone’s name quickly can be important. Long-lasting client/customer relationships are very important.
More and more today’s customers really care about who they work with and if they are good corporate citizens. Many businesses have strong values and are happy to share these with their clients. Don’t be afraid to tell people about all the good things your people are doing. Being passionate about causes that help make the world a better place resonates with the community. Volunteering, donating time, and holding fundraisers are just some ways you can run a business that shows it cares.