12 Business Goals To Prioritize in Preparation For 2023 Q1
Company leaders are beginning to prioritize business goals that will be the foundation of their success as 2022 comes to a conclusion in order to get ready for the start of 2023. Leaders must use their expertise to establish objectives and standards that will keep the business thriving in Q1 and beyond, from improving the employee experience to enhancing company culture.
There are many things that leaders may prioritize now for the new year in order to retain success. Twelve members of the Forbes Human Resources Council discuss these objectives and why they are important in the following.
1. People’s Well-Being
In 2023, your first priority should be ensuring the welfare of your population. We need to take organizational action because we are in a condition of emergency with regard to our well-being. Initiatives by leaders should foster a sense of community. Employees who are happy and fulfilled and who feel like they belong are much less stressed, have fewer health issues, and support the organization’s goals.
– Chris Michalak, Virgin Pulse
2. Strategic Adaptability
Strategic flexibility in systems, programs, and especially in hiring should be prioritized as a key corporate aim. Spend some time completing an organizational design exercise to fully comprehend the gap between where your business is now and where you want it to be in the upcoming year. Be realistic about the company’s capacity to reach its goals in light of the market’s limitations and uncertainties.
– Elena Stefanopol, Labelbox
3. Work In The Future
I think that the future of employment will be a priority in 2023. Due to the epidemic, there have been several changes, and we need to consider if they will have positive or harmful effects. The process of settling into a new norm will be ongoing, but businesses must keep this in mind as they consider the possible effects of a recession on their bottom line.
– Iman Abbasi, Plume Design, Inc.
4. Changing the Approach
By Christmas, you must have finished updating your strategy, identifying your operational measurements, and cascading your KPIs and goals. This indicates that action must be taken immediately, as the majority of businesses I observe are unsure about what to do and how to operate even as Q1 comes to an end. The majority of businesses will place an emphasis on raising sales, cutting costs, and increasing profitability.
– Prithvi Singh Shergill, Entomo
5. More Workplace Engagement
All firms must address the crucial problem of employee engagement in 2023. Whether the company has established metrics and actions in place or not, the pandemic and the ensuing rise in expectations for equity and social justice have caused significant shifts in workplaces all over the world. These changes necessitate a fresh perspective on engagement and the revision of strategies as necessary.
– Jennie Walker, DeEtta Jones & Associates
6. Effectiveness of Systems
Efficiency in systems and processes should be prioritized because it makes good business sense and will be crucial as long as we are operating in uncertain economic times. The optimal use of time and money is to streamline processes until only what truly yields results remains. It enables companies to operate at higher profit margins or to go on during possibly less profitable periods.
– Laura Spawn, Virtual Vocations, Inc.
7. Enhancing Company Culture
Employers have had a difficult year in 2022, as the majority report significant difficulties with hiring and keeping employees. Make a list and concentrate on enhancing your corporate culture. Where can you improve? Consider your basic principles, open channels of communication, employee development, and feedback. This approach should improve your reputation, productivity, capacity to retain employees, and hiring potential.
– Lisa Shuster, iHire
8. Workforce Retention
Retention is one of the top company objectives to focus on in 2023. All management levels who have direct reports need to be trained and developed on how to lead people by their organizations. Today’s managers need to be able to lead with empathy, establish clear expectations and balanced workloads, check in with staff frequently, and support their professional development. Employees must feel at home in this environment.
– Sherry Martin, Government Administration
9. Fair Pay
Set fair pay and transparent compensation as a top priority in your company. Make the adjustments required to account for this. The possibility for income is clearly known to your top performers. I can’t stress this enough: stop waiting for your staff to complain about their pay. If you don’t guarantee that their pay is at or above market rate, another employer will do it for you.
– Nakisha Griffin, Neustar Security Services
10. What Produces Results in Reality
Businesses should prioritize what actually produces outcomes and concentrate on cutting through the clutter. This can be executing the best sales methods for each location, choosing the marketing channels with the most leads, adding features that give the most value to customers, or giving team-building exercises. Your company and skills will determine your priorities.
– Graham Glass, CYPHER LEARNING
11. What Positions Are Important
We are entering an economy where firms will start to look at personnel and determine what is key talent and what is incremental talent. The top business goal to prioritize for Q1 planning in 2023 is “What do we believe our workforce needs to look like and what positions are most important?” We will be able to respond in a proactive manner if our planning is intentional.
– Jason Averbook, Leapgen
12. Making The Leadership Role Stronger
Prioritizing the development of healthy workplace cultures in 2023 must include strengthening the role of leadership in this process. Particularly during the epidemic and with the emergence of the younger generation, healthy work cultures have emerged as a key determinant for retention. Leaders and influential individuals will be crucial to success and will require considerable training and exposure to impactful strategy.
– Tiersa Smith-Hall, Tiera Hall Impactful Imprints, Training & Consulting