At Envisionable we are on a mission to help small businesses remove the barriers that keep them from realizing their true potential.
We call the difference between where you are and where want to take your business “the gap”.
Have you stopped to think about this gap?
What does maximized results look like for your business? How much more revenue? How much more profit. How big is the gap?
What plan do you have to close this gap?
What’s Causing the Gap?
If we operated in a static environment, closing this gap would be challenging enough. Unfortunately, the rate of change of business is accelerating.
According to change management expert John Kotter,
“The rate of change is not going to slow down anytime soon. If anything, competition will probably speed up even more in the next few decades.”
In addition to the rapidly changing business environment, there are additional pressures being applied to small businesses. These pressures are mostly around the changing employee landscape.
The internet wave is hitting employers. LinkedIN, Glassdoor and Upwork offer greater transparency and access more opportunities for employees.
Employee demographics are changing as well. By 2020, about 50% of all employees will be millennials who require connection with a company’s mission to be engaged. Over 60% of millennials express being open to new job opportunities.
So let’s recap the issues that face small business owners….
(1) accelerating rate of change
(2) disengaged employees – caused by a lack of clarity around the company vision and job expectations
(3) more freelance opportunities
(4) the millennial trend driving lower employee retention and higher need to be connected with the company’s purpose
(5) greater transparency making recruiting more difficult
All these issues are putting tremendous pressure on employers to recruit, hire, train and retain employees and this pressure is only going to increase
If you’re an employer who has an aging workforce, these trends may have not hit your business yet, but they will…and you need to be prepared for them.
According to Jack Welch,
“If the rate of change on the outside exceeds the rate of change on the inside, the end is near.”
Employee churn, low productivity, low engagement and a lack of clarity around expectations can all prevent you from closing the gap and realizing your vision.
How Do You Close The Gap?
So despite these challenges, how do you close the gap and see your vision realized?
We’ve found that small businesses need a system which drives clarity around their vision, goals and KPIs, plus a way to identify and value employees’ strengths. Both aspects drive greater engagement and results. Companies who have implemented this system have experienced an 84% increase in profit and a 38% increase in revenue.
So as we head into 2017, what’s your plan to close the gap? How will you overcome these business pressures? Will 2017 be another status quo year?
Read more here:: B2CMarketingInsider