Alexander Abramson January 2019

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benefits, and a sense of career and personal development. Focus on creating programs that reward tenure and make employees feel acknowledged and appreciated. Otherwise, you can expect to spend large chunks of the year rehiring for roles that have been left vacant.

Brad Sugars, founder of ActionCoach. “It’s something that’s truly unique. It grabs people’s attention. It can’t be easily copied. And it offers a clear-cut, marketable benefit to your customer.” Understanding and communicating

strong is what separates the companies that rise and fall with the market from those that excel no matter the broader economic climate. Here’s a word of caution: When looking for weaknesses, don’t let them overwhelm you or turn you into a pessimist. If your company is doing well, you can fix inefficiencies without making them life-or-death issues. That’s the advantage of proactively solving these problems rather than waiting for them to metastasize. There are countless resolutions that will help spur your business to greater heights in 2019. While these are excellent starting points, they’re by no means a black-and-white guide to the best resolutions. You know better than anyone else what will help your business this year, but you have to take the time to think about it and express it throughout your company if you want maximum results. AND THESE ARE JUST THE START

your USP will increase your chances of attracting new customers this year.

RESOLVE TO DIFFERENTIATE YOURSELF

RESOLVE TO LOOK FORWEAKNESSES

In today’s marketplace, it’s almost impossible for your company to offer something your customers can’t get anywhere else. Every product in the world is just a few clicks away, so articulating what makes your company different is a matter of defining your values. If you haven’t already formulated a unique selling proposition (USP), the time to start is now. A USP provides customers with a brief, compelling snapshot of what makes your business different than your competitors. “Think of a USP as your secret sauce — the special ingredient your business uses to prevent becoming a ‘me too’ company,” says

This one is especially important for businesses that are doing well. If you’re struggling, you already know to look for problem areas and attack them before they cause too much damage. But if you can analyze those weaknesses while you’re growing, you could stop a downturn before it starts. Too many business owners use growth as validation that they’re doing everything correctly. The truth is that no business — not Amazon, not Google, nobody — is firing on all cylinders all of the time. Taking the time to assess where you’re weak when you’re feeling

2. GIVE NEW HIRES THE CHANCE TO GROW. The best employees constantly hunger for new growth and development opportunities. Show prospective hires the potential heights they can reach at your organization. First, your business has to have a growth mindset that promotes loyal employees and empowers them to step into exciting new roles. Then you need to present prospective employees with challenging, rewarding projects and responsibilities and show examples of how those who’ve come before them have succeeded. Annual reviews and raises are a start, but you should also explain how a job at your business will improve your If you already offer a legitimately competitive salary, an expansive benefits package, and a good work environment with opportunities for growth, the only challenge left is to get on your ideal candidate’s radar. One of the best ways to do this is to implement an employee referral program. Ask your team if they know anyone who’d fit the empty role. If you end up hiring their prospect and they stay on the team for, say, six months, then reward the referrer. Cash, PTO, and other benefits will encourage your loyal employees to bring in their skilled friends. How to Draw the Best New Hires in a Record-Breaking Labor Market 3 Strategies for Success prospect’s skills, career, and life. 3. GET THEM IN THE DOOR.

Finding good employees has always been hard, but in the economic environment of 2019, it can feel downright impossible. At the end of 2018, U.S. unemployment was the lowest it had been since 1969. For months, unfilled jobs outweighed the number of people seeking employment. In a market where job seekers have the pick of the litter, employers face stiff competition when courting prospects. Here are three strategies to draw in top performers and keep them. 1. PAY MORE. Excellent benefits, fancy perks, and flexible hours are important items on any job seeker’s checklist, but virtually every prospect’s top priority is adequate pay. Workers today have unprecedented bargaining power, and yet, according to ADP, small businesses with fewer than 50 employees boosted wages only a little over 3 percent last year, an amount quickly swallowed up by inflation and increasingly steep living costs. There’s just no way around it. To attract top-tier talent, competitive compensation is paramount, especially in 2019.

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