Pandemic fatigue. Employee burnout. Whatever you call it, it is the culmination of a tough year that spared no one. At the start, everything was up in the air and no one knew how things would settle. As time went on, a new normal — which was anything but normal — emerged.
Over the past 10 years or so, companies have spent trillions of dollars on research and development (R&D). To remain competitive after the Covid-19 pandemic ends, companies must continue making these investments. But they need to rethink how they do that.
Do you want to be more productive? First, let's consider how you and your staff are spending time. As your company grows, it becomes increasingly important to keep on top of who is spending how much time doing what. Time management tools can help. Being on top of accountability and process improvement will help you enhance productivity measures.
It is not news that the talent shortage is making employers think about ways to attract and retain exceptional talent. Offering a range of benefits is one such method they are using, and the statistics bear them out: 80 percent of workers would keep a job with benefits rather than take one that offered more pay but no benefits. It should come as no surprise the Society for Human Resource Management found that retention (72 percent) and recruiting (58 percent) were top reasons companies increased their benefits.
According to a spokesperson from the Risk Unit of Marquette University of Milwaukee, Wisconsin, "Establishing effective internal controls can help a department operate more efficiently and effectively and provide a reasonable level of assurance that the processes and products for which it is responsible are adequately protected."
Budget forecasting is an essential part of good financial management, yet many companies rely on their once-a-year projections throughout the year. Although that strategy may have worked in the past, it’s no longer effective. Things are moving too fast: Technology, government regulations and artificial intelligence are only some of the disruptors businesses are subject to on a regular basis.
Don't scramble to get all your finances together a few days before the deadline. If you do, you're setting yourself up for disaster.
How do you get from the dream to fundraising to business plan to opening? Successful business owners recount how their meetings with potential investors helped them revise their business plan, refining the numbers and focusing on the culture they wanted to create.
How long has it been since you've taken a deep look at your business? Maybe you're focusing so much on what you need to do today that you aren't examining long-term issues that can affect your profitability. Here are some tasks that can take you where you want to be.
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