Tips for maximising your profits this Christmas…

Date: Wednesday, 21st November, 2018

Have you started to think about how you could maximise your profits this festive season? Practical business owners are starting to pull together their plans and ensure that they’ve built some strong foundations for success, of course though, some expert guidance can really make all the difference, and that’s what HR Revolution are here to provide.

Still not convinced of receiving profit-boosting tips from an HR professional? surely we just take care of the ‘people issues’, leaving the tasks like income generation and new client acquisition to the sales and marketing team? Well actually, that’s not the case, HR isn’t a function operating on its own, when done correctly, it adds real value to a business, strategic as well as operational.

Make sure your employees are up-skilled in key areas

You probably already run regular training sessions throughout the year, as you’ll appreciate the importance of giving your employees the support they need to excel in their roles. It’s time build on that though, and consider what you can do take things up to the next level.

You might want to consider some initial or refresher training on things like:

  • Identifying up selling opportunities and making the sale.
  • Delivering exceptional customer service during busier periods.
  • Understanding product and service lines.
  • Leading and managing in stressful circumstances.
  • Handling customer complaints.
  • Balance your books

You might have decided that you need to recruit some temporary team members to help you to deal with an increased demand. Before you go ahead with this though, you need to ensure that you’ve struck the right kind of balance. Recruit too many, and your profits will take a hit. But if you don’t recruit enough, you could miss opportunities due to operational constraints.

There’s no ‘one size fits all’ approach here. It’s not possible to say that a business of a certain size will need ten seasonal workers, for example. It’s about getting down to the nitty-gritty and making calculated estimates that are fitting with your ways of working and overall goals.

Assess performance throughout busy periods

Christmas offers your employees a time to shine. If you get caught up in the rush, and all your usual people management processes get forgotten, you could really be missing out. Be sure that your managers know to keep their eyes open. You might discover that a certain employee really excels when it comes to up-selling. Or an individual might step up and show that they’re future leadership material.

If you didn’t have these considerations in the back of your mind, you’d be going into the New Year unprepared. Whilst you may be focused mainly on the Christmas rush at present, don’t forget that what you’re doing right now will have a direct impact on your future profits.

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