A better way to make New Year’s resolutions

Do you like to make New Year’s resolutions? Studies show that most Americans make an average of three to five goals each January. The problem: Most resolutions are cast aside by the end of February.

What would happen if you picked just one resolution — one important business goal — and stuck to it for an entire year? A goal that’s challenging and, if you work hard, attainable? Research shows that instead of coming up with multiple goals for 2021, pledging to make one significant change is more likely to result in success. And make it specific. Instead of a New Year’s resolution to “attend more networking events,” quantify the number of networking events you’ll attend each month and what you plan to accomplish at each. Instead of “growing your business,” quantify how much you plan to grow your sales or profits.

One time-tested method for setting effective goals is called the SMART principle. SMART stands for specific, measurable, achievable, relevant and time-bound. Using the SMART approach, quality goals can be created by asking yourself these five questions:

  • Is your goal specific enough? You’ll be more motivated to work hard to attain a goal if you spell out exactly what should be accomplished. Instead of a vague goal of increasing traffic to your company’s website, for example, you would want to set a specific goal in terms of unique visitors or page views.
  • Is your goal measurable? Make sure you can monitor your progress and ultimately measure whether you have accomplished what you set out to.
  • Is your goal achievable? You don’t want to create goals that are too easy to reach but you don’t want to set yourself up for failure, either.
  • Is your goal relevant? If you accomplish your goal, will it further your personal and/or business objections or mission?
  • Does your goal have a timeline? Having a deadline can be motivating and give you an exact date in the future to work toward. Otherwise, you might not feel the urgency to put in the required effort.

Research also shows that sharing your resolution with others can make a big difference. Let others know about your goal early in the year.

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What is your company’s mission?

Do your employees know what your company stands for — its mission, why it’s in business, and how it’s different from competing companies? Only 41 percent of U.S. workers say they do. Surprised? Shocked?

That alarming statistic is from Gallup research. While most business leaders can clearly describe their company or organization’s mission, most employees can’t. Another surprising statistic: Only four in 10 U.S. employees strongly believe that the mission of their company makes them feel their position is important.

That’s a real problem. Research shows a clear link between how well employees understand their company’s mission and purpose and embrace it and how well it performs. According to Gallup, just a 10 percent improvement in a workforce’s connection with their company’s mission or purpose would likely result in an 8.1 percent decrease in employee turnover and a 4.4 percent increase in profitability. If your company or organization doesn’t have a formal mission, it needs one. If it has one, everyone should understand what it is and how their work or job ties into and is important to this purpose.

In conducting a meta-analysis of nearly 50,000 business units across just under 200 organizations representing 49 different industries in nearly three dozen countries, Gallup scientists discovered that as employees move beyond the basics of employee engagement and view their contributions to their organizations more broadly, a lot of positive and powerful things start to happen. Employees are more likely to be loyal to their employers, work harder and more creatively and take ownership in what they do, connecting with customers/clients to the benefit of the organization. All that great stuff happens because of a clear mission.

At Accurate Protection, our entire team is focused on providing a full spectrum of risk management solutions for businesses of all sizes. The average insurance broker meets your basic needs when it comes to business insurance plans, claims and renewal negotiation. But what about helping your company adapt to new and evolving exposures, such as cyber-attacks and changes in legislation?

In addition to helping with a comprehensive risk management plan, we help our clients better manage today’s challenging business environment by offering them a web-based client resource center. Customized to a company’s unique needs, you’ll find a wealth of valuable information for your business on a wide and diverse variety of issues all in one place. Here’s some of what will you find in our Accurate Protection Connect:

  • A dynamic interactive online forum
  • The tools to create a customized company safety manual
  • An easy-to-use OSHA reporting system
  • Legislative updates that could affect your company and industry
  • Convenient 24/7 online insurance claims reporting
  • Customized employee newsletters and payroll stuffers
  • A library of more than 1,000 downloadable articles in both English and Spanish.

Learn more about how we can help your company be more efficient and successful.

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