Are You Prepared to Face the Most Prevalent
Business Challenges of the Year?
Guest post by Andrew Lisa
In the world of business, this year has been odd so far, to say the least. A partial recovery and slightly improved job numbers have nudged more employers into hiring, but in order to stay competitive, smart businesses need to get creative and deal with the challenges that are inevitably going to arise in the second half of the year. Small businesses today should take heed for what they may face as they grow.
In order to stay competitive when chasing top talent, smart recruiters are going to have to get creative.
Healthcare
When it comes to hiring and retaining the best candidates, health benefits have always been a major selling point – in some cases, enough to compensate for salaries that were lower than candidates had hoped for. With 2014 being the first year of the Affordable Health Care Act as a reality, employers are reevaluating their plans – and their recruiting strategies.
New Kinds of Compensation
With the economy recovering and the unemployment rate dropping, it is becoming less and less of a seller’s market for businesses seeking to hire. For those who can’t offer bigger salaries outright, it is imperative to think beyond traditional compensation in a world where the best candidates may have already been snapped up. Flex-time scheduling, in-house daycare and hybrid telecommuting are all attractive extras in hiring.
Branding
As discussed in “The Biggest Business Challenges of 2014: Are You Ready?,” branding is always important. But establishing your brand is becoming more difficult as consumers are flooded with more websites, online stores and social-media-driven advertisements every day.
Sales
No matter how much optimism is reported in the business section of your local paper, 2014 is still a year of recovery. That means arming your sales team with a cohesive strategy – as well as new sales techniques – for convincing skeptical clients and customers that now is the time to buy. Your sales department must know that you have their back, and you’ll stick with them until the lean times are over, which should be any month now.
Now more than ever, your sales team needs guidance and understanding from management.
This has been and will continue to be a year filled with challenges for businesses of all sizes. From high-profile data breaches to new hiring trends and sales techniques to a modest recovery, this year is shaping up to be a minefield for all kinds of enterprises – but navigating those minefields is what business is all about.
Andrew Lisa is a freelance business writer. He covers human resources and small-business management.
