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3 things business leaders should do this new financial year

Let’s start at the very beginning, it’s a very good place to start. Make the most of the fresh opportunities this new financial year will bring by setting your business goals for the year ahead now. 

Motivate your people to get your business to where you want it to be. Focus on these 3 key areas of development for this new financial year.  

 

1) Create Culture

 

Is your company culture as good as it could be? Is your business environment a positive one that feeds productivity, collaboration and strategic thinking? 

The new financial year is the right time to sensor check your company culture. What actions, systems and values are in play and how productive are they in achieving employee engagement and business success? 

Building a strong company culture isn’t a wishy-washy feel-good practice, it is a smart business strategy that has tangible outcomes in productivity and profits. Make your culture measurable and accountable to see your staff engagement and targets going through the roof.  

 

2) Engage Employees

 

What do you want your organisation to have achieved this time next year? Build your vision for the new financial year and set clear business goals. Communicate the goals to your employees so they feel included in the process.

Listen to your employees’ insights and ensure their professional opinions are valued. If your team is engaged and motivated, there will be a positive ripple effect across the rest of your business. 

For the majority of Australian workers, non-financial company benefits are just as, if not more important, than salary. Make your team want to be there by investing in their career with learning and development, providing flexible working arrangements, for example, or encouraging them to pursue their passions. Get a consistent, meaningful reward strategy and a performance management system in place to ensure your employees love their job and excel in what they do. 

 

3) Grow Leaders

 

Leaders need specific sets of skills to navigate challenges and this new financial year will undoubtedly have its fair share of those. If you know what you want to achieve you will need the best leaders to guide and support the rest of your team to get there, so don’t be afraid to invest in leadership development with training or coaching. Great leaders will motivate your employees and nurture your company culture. 

Discover how Balance at Work can support your business goals with a smart people management strategy for the new financial year. 

 

Nepean News Editorial

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About Susan Rochester

BSc MHRM FIML
Susan Rochester has been managing director of Balance at Work since 2006. Susan has a natural tendency to balance analytical thinking with an optimistic outlook to set direction and solve problems. She is an effective facilitator and constantly creates new and more effective ways of doing things, motivated by helping others to achieve their goals.

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