The fourth quarter of the year is upon us and with it comes a myriad of images: football, fall leaves changing colors before giving way to snow, holiday parties and last-minute purchases. It also brings business opportunities ranging from back-to-school marketing to the holiday season and everything in between.
As we start the fourth quarter of 2018, it is a good time to make a list of your most important initiatives for the remainder of the year. This might mean moving projects to next year that have no chance of completion in the short timeframe. In addition to a robust work schedule, there’s also the added family pressures of the impending holiday season around the corner. Staying focused and structured will increase your productivity and allow you to maximize resources as the year ends.
What are your goals for the coming year?
The fourth quarter is a natural time to reflect on, and analyze, your business. Assess whether the business is where you want it to be, its prospects for the future, and what can be done to increase business in the upcoming year. As you reflect, set goals for the year to come.
Have you reviewed your cybersecurity recently?
This is a great time to review and improve your company’s cybersecurity procedures. Select a password manager that can secure your online accounts and help you avoid password fatigue. Clean up your digital footprint by deleting old accounts that may publicly reveal sensitive information. Be on the lookout for scams, such as phishing emails. The end of the year is a common time for cybercrime, as businesses are often understaffed, and tired employees are more likely to let their guard down and open a suspicious email.
Are you ready for holiday bonuses and year-end performance reviews?
Your employees are vital to the success of your company. The fourth quarter is a good time to prepare for end-of-the-year employee evaluations, so each team member knows where they stand and what you expect from them in the coming year. Keeping good records puts everyone on the same page, and it can also help you avoid the cost and hassle of employment disputes in the coming year.
End-of-year or holiday bonuses are a great way to boost morale and keep employees happy. However, it’s strongly recommended that bonuses are given in connection to performance reviews. If not, you miss an opportunity to reward performance and the bonus can quickly become a pay expectation. If all employees receive the same bonus, there’s a good chance that the higher-performing employees will be disappointed with the “fairness” of the process.
Are you feeling festive?
The fourth quarter is full of fun and seasonal festivities. Customers are visual and love businesses that get into the spirit and let their “seasonal personality” shine. You can add seasonal graphics to your website, decorate your storefront, and use holiday imagery in your promotions and posts. Help customers get that warm feeling (you know the one) when they enter your store or jump on your website. Take care, however, not to bring religious themes into the mix, as there is a diversity of beliefs out there. Be sensitive to this in your seasonal planning.
Finally – what can BCN help you with?
BCN Services has an experienced staff to help with the variety of day-to-day situations. Our objective is to help you, our valued client, to focus on your business needs and key priorities by freeing up time spent on employment issues and administration. We handle more than 150 Human Resources employment tasks, products, and services and strive to provide outstanding customer service and resources.
Contact BCN Services at 1-800-891-9911 if you have questions or need assistance.
Thom Moore, Partnership Manager