The 10 most important things new businesses or growing SMEs need to do in 2022

Build a killer team…

If you’re building a new business, you need to start with a solid foundation. And that means hiring the right people. The knowledge, skills and expertise of your team are by far your biggest assets, so the hiring process is a crucial one.

For SMEs that are looking to grow and develop, it’s a good idea to look at your existing team to see who could be trained, developed, or promoted. This can be more efficient and cost-effective than hiring new people, plus it’s a chance to develop people who already know your business inside and out.

Recruitment and retention are always big challenges, so it’s important to have a strategy in place. That’s where we come in.

We can help with all stages of the hiring process, from writing job descriptions to actually conducting the interviews. Speak to us to find out more on 01202 143555.

… and keep them!

Retention is an important thing to get right, as nothing is more unsettling or demotivating for employees than working somewhere with a high rate of staff turnover.

We can advise on ways to ensure the longevity of your team, whether this means helping to implement clear career pathways, working with you on your employee benefits, or building a happy, healthy workplace culture.

Culture? I hardly know her!

Culture. It’s a term that’s thrown around a lot, and has become synonymous with beer fridges and dress-down days. But it’s about more than just that. It’s about creating a workplace with clearly defined values, a sense of purpose, and an environment that allows staff to feel engaged and inspired.

Nowadays, people are looking for workplaces that align with their values and offer more than flashy perks. They want to know that they’re working somewhere that allows them to be their best. We can help you define what this looks like for your business.

Focus on being a leader

Anyone can be a boss. Well, perhaps not anyone, but it sometimes seems far easier to simply be an average boss than to demonstrate the qualities of a good leader.

It can be easy in the short term to default to behaviours that are a quick fix, like doing a task yourself, not empowering or trusting your team to get on with it or playing the blame game. But if you want to inspire and motivate, that’s where a different approach is needed.

A good leader delegates, encourages and mentors their people, and – perhaps most importantly – asks questions and truly listens.

The long-term benefits of being a good leader are that your team will respect you, and you’ll create a positive and healthy work environment. These things will all help to improve staff retention, and a motivated team will work harder to deliver results and achieve your business goals.

Connect on a human level

It’s also worth saying at this point that a human approach to being a leader is always the way to go. It’s often thought that you shouldn’t show emotion in the workplace, but humans connect with each other on an emotional level. We recommend that you get to know your team – and let them get to know you too! It’s not about becoming best friends with everyone, but instead forming connections that enhance communication and help you overcome challenges and achieve your goals together.

Our engaging and informative workshops can help you develop your management skills and lead your business to success.

Transparency is key

Especially in a new business, where staff are easing into their roles and things may be uncertain at times, it’s important to keep everyone in the loop and communicate as openly as possible. This will help to build trust and, in turn, create a happier and more productive team.

Your people will feel more valued if you keep them updated with changes to the business – especially if these changes will affect them in some way. Monthly business update meetings are just one way to communicate key information in a forum where people can ask questions and voice their opinions.

Remote or hybrid working can create new challenges when it comes to communication, but it’s still just as important to stay connected with your team – whether that’s with Zoom calls, weekly catch-ups, or chatting on Slack.

Don’t neglect your HR function

There’s a lot more to HR than most people realise. Not following or fully understanding the relevant rules and regulations can lead to major problems down the line, so it’s worth doing things properly from the start.

To make sure you’re equipped to take on these challenges, you need the support of HR professionals who stay up to date with the latest changes to employment law, and are well versed in the regulations that can impact your business. It's also very important to ensure your employee documentation, contracts and handbooks are up to scratch.

The benefits of outsourced HR for start-ups and SMEs are flexibility and cost-effectiveness. Rather than hiring an in-house team, you can pay for the services you need, while enjoying a level of expertise you wouldn’t get from someone in a more junior HR role. We’ve also got a great deal of experience working with new and rapidly growing businesses (just take a look at some of our case studies), so we are perfectly placed to guide you through the exciting challenges ahead.

We can’t all be HR experts, so why not leave that stuff to us while you focus on doing what you do best?

Empower your people

People feel empowered when they’re given responsibility and the autonomy to make their own decisions. Instead of waiting for instructions, an empowered team will organise itself to achieve a common goal, with every person playing a role in making group decisions (where appropriate, of course).

Empowered people feel valued and enjoy increased job satisfaction. This, in turn, makes them more committed to your business, and improves staff retention – we’d call that a no-brainer!

Always be upskilling

Training and opportunities to learn are still important, even when you’re at the top of your game. The best workplaces are ones that evolve and change with the times, so it’s always a good idea to look for ways to improve yourself as a leader.

It will make staff feel like you’re investing in their development if you make training opportunities open to them as well. The same goes for attending industry conferences and networking events – anything that gives you a chance to stay ahead of the competition and be the best you can be is something that should be grabbed with both hands.

Look out for funding opportunities

What business couldn’t do with more money? There are plenty of funding opportunities out there, from local schemes through to national grants, that could help you take your business to the next level. Whatever this looks like for you – whether it’s taking on new staff, upgrading your office, or investing in new equipment – help is out there that could allow you to grow your business in ways you hadn’t thought possible.

For help putting together a strategy to grow your business, speak to our HR experts today.

We’re here to guide you as you grow

With a combined experience of over 50 years, the team here at Streetwise HR are perfectly placed to help you tackle the challenges of being a new or growing business. Speak to us today on 01202 143555 to get your business where it needs to go.