While 2022 certainly brought its fair share of positives, executives also faced many challenges. Economic uncertainty and cybersecurity plagued companies nationwide, resulting in new learning curves and the need for better strategic planning.
So, with less than two weeks left in the year, it’s safe to say all eyes are on the next calendar year and the promise of new opportunities for growth and development. As you’re developing sustainable goals for yourself and your team, here are five business practices expected to top agendas for 2023.
1. Lean Principles- A trending buzzword and business framework, this concept lays the foundation for working smarter, not harder, and applies to all facets of an organization.
Consider evaluating which departments and methods bring the most value, then create ways to embed those elements in areas that are lacking. Promote the sharing and exchange of ideas. You’ll gain efficiency and profitability while building stronger internal teams and organization.
2. Sustainability- Businesses have a responsibility to do the right thing, even if it’s not the most profitable. Plus, companies committed to social issues tend to be more desirable for both customers and employees. Sharing your vision to give back and do good makes you unique, helping to attract new talent. And while finances are always a top concern, trust us. Your positive messaging will pay off in the long run.
3. Expansion of Global Networks- It’s projected that over 25% of all professional jobs will be remote by the end of this year, making flexible work options a need for many companies. Laying the groundwork for a new work/life balance is something C-Suite leaders grapple with, and although it’s become the norm across many industries, this model isn’t without challenges.
The key is to create and implement a design that meets the needs of your company and employees and keep that in mind when onboarding new hires. Choose those who will fit the niche you’re looking for, putting the emphasis on skills and not location.
4. Inclusivity- The benefits of a diverse and inclusive enterprise can only occur if leaders are willing to implement a methodology that supports these values. It needs to be a conscious effort expressed to every employee and shareholder. If the entire company is well-versed in these goals, success is more likely to be achieved.
From a leadership standpoint, don’t be afraid to step out of your comfort zone. Just because it’s been done before doesn’t mean it can’t be changed. Schedule trainings, share information via company newsletters and social media, and speak from a place of authenticity. And remember, you’ll get the best out of your teams when you appoint them based on their true talent and skills, and different backgrounds prevent Eco chambers from developing.
5. Compassionate Leadership- Changes to not only how we work but why we operate are constantly evolving based on current social and cultural trends. It’s safe to say that more traditional leadership styles led by authority and power are no longer producing the desired results. Instead, C-Suite executives are adopting a more compassionate approach. How do you know if you’re on your way to a more empathetic management style? Ask yourself these questions:
If you answered “yes” to any of the above, you’re well on your way to a more compassionate, approachable leadership style. Not quite there yet? The good news is you’ve got 365 days to get there.
We hope the new year allows the opportunity to build a better long-term vision for your company, create connections outside your typical network, and practice mindfulness in your decision-making and leadership. Here’s to greater success and stronger partnerships in the months ahead.
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