The start of a new year often heralds a period of reflection and reinvention, and New Years Resolutions.

For individuals, this might translate into personal commitments and aspirations. However, businesses are not exempt from this ritual. In fact, as the calendar year nears its end, many companies are already asking, “New Year, New Me?”.

Here we delve into the trend of businesses making New Years Resolutions:

The Tradition of New Year Resolutions

Historically, New Year’s resolutions date back to the Babylonians, who made promises to their gods at the start of each year. These promises often revolved around returning borrowed items and paying off debts. In today’s age, tradition has evolved but the essence remains: setting goals for positive change.

Why Businesses Can’t Ignore New Year Resolutions

Just as individuals pledge to eat healthier or read more books, companies might decide to enhance customer relations, increase profitability, or launch a new product line. The principle remains the same: improvement and progress.

1. Growth and Expansion: For businesses looking to scale, the new year could mark the beginning of tapping into new markets, exploring diverse product lines, or even mergers and acquisitions.
2. Strengthening Customer Relations: Modern businesses understand the importance of a loyal customer base. Thus, the new year is an opportunity to roll out loyalty programmes, enhance customer service, or introduce community engagement initiatives.
3. Sustainability: With rising awareness about environmental issues, many businesses are opting for sustainable practices. Come 2024, we could see more firms vowing to reduce their carbon footprint or eliminate plastic from their operations.

Planning is Key

The allure of the New Year is strong, but successful resolutions are built on foresight and preparation. Here’s why and how businesses should start planning their resolutions well in advance:

1. Market Analysis: Before setting any goals, businesses need to have their fingers on the pulse of the market. Understanding evolving consumer behaviours, emerging trends, and potential disruptors can guide goal setting.
2. Feedback Integration: End-of-year feedback from clients, stakeholders, and employees can provide invaluable insights. Harnessing this information can shape the resolutions for the coming year.
3. Resource Allocation: Whether it’s hiring new talent, purchasing equipment, or investing in training, businesses need to ensure they have the necessary resources to fulfil their resolutions.

Personal Resolutions Within a Professional Framework

New Year’s resolutions aren’t exclusive to business entities. Employees, irrespective of their designation or role, can draft their own set of professional resolutions. By aligning personal goals with organisational objectives, employees can find a harmonious blend of personal and professional growth.

1. Skill Development: With industries constantly evolving, employees might resolve to learn a new skill, attend workshops, or pursue further education.
2. Networking: Building a robust professional network can open doors to opportunities. Attending more industry events or joining professional organisations might be on the cards for many.
3. Wellness and Work-life Balance: Burnout is a real concern. Employees could aim for a healthier work-life balance, integrating wellness routines into their daily life.

Case Studies: Resolutions That Transformed Businesses

Let’s delve into some real-life examples where resolutions have made a noticeable difference:

1. Company A’s Green Pledge: Starting 2022, Company A, a renowned beverage manufacturer, pledged to go plastic-free. Through extensive planning in 2021, they rolled out glass bottles in 2022. Not only did this move enhance their brand image, but it also led to increased sales.
2. Company B’s Focus on Mental Health: Recognising the rising concerns around mental health, Company B, a tech giant, introduced mandatory wellness breaks and counselling sessions for employees in 2023. This boosted employee morale, reduced sick leaves, and enhanced overall productivity.

In Conclusion

New Year’s resolutions for businesses aren’t just a trend. They’re an essential introspection tool, guiding companies towards sustainable growth. While 2024 awaits with its set of challenges and opportunities, preparedness, backed by resolutions, can set the stage for a prosperous year ahead.

OUR FOCUS ON LONG-TERM PARTNERSHIPS

At re:find we have been in Executive Search for over 20 years. We believe
that recruitment is not a one-off transaction but rather a long-term
partnership. We aim to build long-term relationships with our clients,
providing ongoing support and advice to help them find and retain the best
talent for their organisation.

In addition, as a business, we understand that every organisation is unique
and that there is no one-size-fits-all solution when it comes to recruitment.
That’s why we offer bespoke recruitment solutions that are tailored to meet the
specific needs of each client. Whether you need help with a single hire or a
full recruitment campaign, we can help.

We are committed to providing our clients with the highest quality service.
As part of this, we ensure that we take the time to understand your
organisation’s culture and values, as well as the specific skills and
experience needed for each role.

For more information on our executive search practice and our CCS framework
please get in touch with our Managing Director, James Cumming.