At the beginning of a new year, it's common for people to set resolutions or goals for themselves, such as losing weight, eating healthier, quitting smoking, learning a new language, or some other personal achievement. However, it's far less common for businesses to set specific goals each year, beyond the generic "sell more" or "make more money" kind of goals. The truth is that all companies can benefit greatly from having a few goals to work towards throughout the year, especially if they are S.M.A.R.T. goals (specific, measureable, achievable, realistic, and timely). Today's Aegis blog post looks at some examples of goals companies can strive towards in the new year.

Create A Safer Workplace

Workplace safety is a growing concern for many businesses as the expenses and losses related to a workplace injury can be substantial. In addition to medical expenses for injured workers, companies can also experience downtime and a loss of productivity if key employees are injured on the job and have to miss work for a significant amount of time. Companies can work towards creating a safer workplace this year by improving safety in areas that are known to be high-risk or pose a danger to employees. For example, safety can improve through the addition of warning signs, non-skid floor mats, removal of tripping hazards, improved lighting, more personal protective equipment, and safety training.

Increase Efficiency and Value

Another important goal companies can set for a new year is to improve company efficiency and increase their value to customers and employees. Sometimes companies can become inefficient over time when processes or procedures never change, simply because "that's the way it's always been done." That phrase can be a productivity killer for companies because it leaves no room for innovation or improvement. Instead, businesses should look for ways to improve or streamline processes so employees can work smarter, and not harder. When efficiency goes up, it gives companies more time and opportunity to focus on customer satisfaction and improved services. Examples include reducing paperwork, combining services into packages for customers, moving processes online, and soliciting feedback as much as possible from employees and customers on ways to improve services.

Reduce Expenses

Finally, it's important to remember that increases in sales and revenue are great, but high spending and out of control expenses can quickly eat away at any gains in revenue or profits. Reducing expenses should be a high-priority goal for all companies as expenses can reveal areas of waste and opportunities for improvement. This goal can be accomplished by such actions as negotiating better rates for rent or utilities, reducing office supply waste or theft, or perfecting delivery routes to decrease delays and lower fuel costs for commercial drivers.

Companies that set even a few realistic and specific goals each year are far more likely to experience improvement and growth than businesses that set no goals for their company or employees. The team at Aegis Insurance & Financial Services can also help companies make improvements and reduce costs by offering customized Commercial Insurance solutions that are tailored to the unique needs of the business and industry. If you would like to learn more about the full range of Commercial Insurance solutions offered by Aegis, call us at 713-850-7622, or fill out our online form to request a free quote today!