Around the holidays, companies show appreciation in all kinds of ways. Some give bonuses, others host parties, and a few, year after year, hand out hams.
There is nothing wrong with a good ham. But at ITR Economics, we think the best gift you can give employees is something that helps them long after the holidays are over.
That gift is good decision-making.
In a recent blog, we talked about pairing the calendar year with where you are in the business cycle to determine the best choices to make for your business. In the spirit of gift-giving, optimally positioning your business for prosperity can reap the most rewards for you and your employees.
Strong businesses do not become strong and then remain so by accident. They are built by leaders who take the time to plan, understand the economic environment they are operating in, and make choices based on data rather than impulse. When things are busy, it is easy to confuse activity with progress. With solid planning, you can keep those two from getting mixed up.
Good planning is not about predicting the future perfectly. It is about maintaining the clarity to make confident decisions and avoid unnecessary distractions. It requires that you say no to initiatives that do not fit the realities your business will face or the strategies that you have chosen to address them. This brand of discipline focuses your work, making it a lot less chaotic. For employees, it matters. Organizations that plan well tend to be steadier, clearer, less reactive, and more profitable. Employees know what they are working toward, why that goal matters, and they rest easy with the understanding that they work for an employer with a steady hand. That is worth more than a one-time perk.
So, as the year wraps up and the next one approaches, our reminder is simple. Slow down enough to think. Make decisions that fit where your business is headed, not just where it has been. Let us know how we can help.
Happy holidays from all of us here at ITR Economics.