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    September-2016
 
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Tough Times Bring Opportunity for Small-Business Growth Strategizing

Although the timing may seem ill-placed, when the economy is struggling is the perfect opportunity for small to midsize companies to take strategic steps toward creating future growth for their firms.

So says CheckPoint HR, an Edison, N.J., firm that specializes in Web-based human-resources management for this type of company. One of the best ways to do that, according to the company, is by cross training employees.

The more experienced a group of employees, the more flexibility a company has in responding to the ever-changing business world, says the firm. Cross-training allows companies to create a more talented work pool and gives employees the opportunity to improve their resourcefulness.

Forward progression “is key, even during difficult economic times,” says Michelle Moylan, human resources specialist with CheckPoint HR.

And part of that progression includes attracting and retaining qualified employees. With the shaky economic climate, more talented and skilled workers are available or are willing to try a new field. Determining what teams or departments is lacking and what kind of employee is needed to fill those holes, says CheckPoint HR, can prove beneficial for the company in the long run.

Another way that companies can create future growth for their firms is by ensuring that their human-resources staff is in tune with employees.

“HR professionals have a strong vantage point of business intelligence as they work closely with the staff and understand the root of issues in areas such as production, turnover, morale or profitability. HR professionals must educate the leadership and assist them in correlating the factors that are impacting the organization,” says the specialist.

“Employees need to be lead, and leading by example is one of the strongest influencers and motivators. Organizations need each employee to be focused and engaged in performance and the generating of innovative ideas.”

The last strategic step that companies can take is focusing on technology. Technology applications and platforms can greatly help an organization work more efficiently and effectively. Although investing in new technology may be considered irresponsible spending, now is the ideal time to present more cost-effective solutions to help streamline processes.

“Organizations must holistically be looking forward at all times,” Moylan says. “By implementing some or all of these strategic steps, organizations can begin laying the foundation for their continued progression and just may come out of this economic challenge stronger than before.”

CheckPoint HR uses a technology platform that combines payroll, benefits and HR management services, helping small to midsize companies improve efficiencies, streamline operations and reduce costs. For more information, call 800-385-0331 or visit www.CheckPointHR.com.


© 2016, Information Strategies, Inc.
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