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The holidays are approaching, and with an influx of shoppers and worker requests for break day, it’s often the busiest time of yr for businesses. It will be difficult for business owners to balance sales priorities in preparation for the coming yr, but the season of giving is also a great opportunity for them to make a positive impact.
Investing in your employees and local community is a smart way to strengthen your business as the yr ends, as it could possibly help improve workplace morale, increase customer loyalty, and position your business for success in the latest yr. As business owners want to get into the holiday spirit, here are some ways they can provide back to their business this season.
Invest in your employees
According to a recent one Bank of America Women- and Minority-Owned Business Owners in the Spotlight63% of U.S. business owners plan to grow their company in the coming yr, and greater than half plan to hire in the next 12 months. Employees are an essential a part of business operations and it is up to business owners to make sure that their workplace culture and morale are supported during expansion efforts. Assess your company’s existing culture and how worker needs are currently being met and prioritized over business needs. Then outline potential strategies to close any gaps.
During the busy holiday season, consider how to ease staff pressure by making small changes to your schedule. This can have a major impact on employees, especially those that are parents and could also be balancing child care during the winter break from school. Increasing communication, transparent planning and offering flexible working options where possible can significantly reduce stressors for staff.
According to Bank of America, beyond operational changes, 83% of business owners are investing in education and recognizing the value their employees see in programs equivalent to on-site training and mentoring. For employees interested in advancing their careers, skilled development opportunities are a smart way to strengthen existing talent and increase retention.
Workplace culture programs equivalent to worker resource groups may enhance a positive environment for employees, and creating a friendly staff improves interactions with customers, which is an additional advantage. There are many strategies that business owners can implement to improve the workplace; Knowing your employees and recognizing their needs is the key to ensuring good staff and the development of your company.
Connect with your community
Beyond employees, it is important for business owners to value the complementary relationships they have with their communities. When a community supports local business owners, these businesses thrive, which in turn is able to reinvest in the community, provide jobs and boost the local economy. This creates a positive feedback loop of mutual support that is crucial to the long-term development of the community.
Business owners can explore other ways to give back to their communities, equivalent to donating to local nonprofits, sponsoring community events and programs, and offering discounts to residents. Information workshops, seasonal celebrations and worker volunteer initiatives are just a few examples of how business owners can foster community engagement to help people make personal connections with their company beyond the products or services it offers.
Also try to connect and collaborate with other local businesses – collective support can’t only increase your presence in the community, but can provide savings that will be reinvested in the business. For example, you can get involved cost sharing to reduce some expenses for you and neighboring business owners. Whether you collaborate to pay for health care plans, share supplies and resources, or offer discounts to overlapping customers, working with other businesses will be very rewarding, and the savings might help any business owner maintain fair prices for their customers.
Give and come back
An investment in your employees and community is an investment in your business. Today’s consumers value corporations that align with their values, so showing care for your community is an effective and mutually useful way to improve your brand popularity and increase customer loyalty.
By investing in your community, you can encourage employees to be pleased with your company, knowing that it is making a positive impact on the community around them. This energy, combined with improvements in worker planning and training, will make your company the best place to work.
To set your business up for success in 2025, consider building momentum by supporting and empowering your employees and communities. Giving back advantages each parties and promotes internal and external growth for long-term success.