4 New Year’s Resolutions for Your Business in 2020
As a new year approaches, it’s time to relax, unwind, spend time with family and friends — and of course, make some New Year’s Resolutions that inspire us to make some positive changes in the year ahead.
However, New Year’s Resolutions aren’t just for personal aspirations. They’re also for business goals. With this in mind, here are four New Year’s Resolutions for your business in 2020:
#1: In 2020, resolve to significantly lower overhead costs.
Cutting costs in your business — but without compromising quality assurance, diminishing customer experience or reducing sales — is even better than winning the lottery or hitting the jackpot, because the IRS doesn’t take a chunk of your windfall. You can use the revenue to hire more staff, expand your product line, introduce new services, invest in new equipment, pay down/off business debts, launch marketing campaigns…and the list goes on.
#2: In 2020, resolve to enhance customer experience.
Research by Walker Insights projects that in 2020, customer experience will surpass price and product as the most important brand differentiator. In other words, customers will gladly pay a higher price and accept a more limited selection when they believe that they’re being treated very well, and doing business with a company that cares about their satisfaction and happiness.
#3: In 2020, resolve to boost employee engagement.
Having engaged and loyal employees who willingly go the extra mile isn’t merely a “nice-to-have” — it’s critical. Research by Gallup has found that businesses with engaged employees are 21% more profitable than those with disengaged employees, and research by Kotter has found that businesses with a positive company culture enjoy 400 percent higher revenues vs. businesses with a negative company culture. Furthermore, greater engagement is directly linked to lower turnover. As noted by Gallup in its State of the American Workplace report: “Employees who are engaged are more likely to stay with their organization, reducing overall turnover and the costs associated with it. They feel a stronger bond to their organization’s mission and purpose, making them more effective brand ambassadors. They build stronger relationships with customers, helping their company increase sales and profitability.”
#4: In 2020, resolve to support and empower remote workers.
According to research by Owl Labs, 42 percent of remote workers intend to work remotely more frequently over the next 5 years than they currently do, and more than 50 percent of on-site workers want to start working remotely. And Global Workplace Analytics predicts that by 2025, an estimated 70 percent of the workforce will work remotely at least five days in a month. Of course, remote workers aren’t the only ones benefiting from this trend. Research by Stanford University has found that employers save an average of $2,000 in real estate costs for each remote worker, and research by Polycom Inc. & Future Workplace has revealed that remote workers are on average more productive than in-office workers.
Putting it All Together
At Carolina Digital Phone, our state-of-the-art hosted VoIP phone solution enables your business to achieve ALL of these resolutions:
- Significantly lower overhead costs by slashing telecommunications expenses by 25-50 percent (and in some cases more) each year.
- Improve customer experience with a range of customer-centric features such as auto attendant, live call transfer, hunt groups, conferencing, and more.
- Boost employee engagement with features that make work simpler, more efficient, and more enjoyable such as voicemail-to-email, presence, call recording, and more.
- Empower remote workers with mobile apps that allow them to make/receive calls from anywhere, and by using browser-based softphones on desktops and laptops.
To learn more contact Carolina Digital Phone today at (336) 544-4000. We’ll provide you with a live guided demo of our hosted VoIP phone solution at your location, or over-the-web. Let us help you make 2020 your BEST YEAR EVER!