Page 50 - Network Magazine Winter 2019
P. 50

            100 Years Young: Four Ways to Keep Your Company Young for Years to Come
ERIC B. LUFTIG, VICE PRESIDENT VICTAULIC
When it comes to staying “young” as a company, it may seem counterintuitive to learn from companies that have been in business for a long time. However, by looking closely at the best practices of seasoned businesses, you’ll find what often makes them successful is consistent adherence to a core set of best practices. Following are a few ways you can make sure your business stays current and on the right track.
1. Investing in Technology and R&D
Prioritizing investments in technology and R&D for in- novation can have many benefits. First among these is helping your customers solve their greatest challenges. Customers value the ability to voice their opinions, and by integrating customer feedback into new product develop- ment efforts, your organization will be better positioned to sustain long-term customer satisfaction, loyalty, and valuable relationships.
Fostering a mindset of continuous improvement allows employees to identify areas of opportunity for innovation. Equip employees with top technologies and resources, enabling them to enhance your company’s processes and efficiencies.
Overall, your company will remain successful in introduc- ing disruptive products and services when you offer key differentiators and unique value that clearly separate you from the competition. Connecting your brand and offer- ings with current topics, technologies and trends help your company remain relevant.
2. Attracting / Retaining Talent
Employees are your company’s biggest asset and showing them you care will help you more successfully attract and retain top talent. Committing to, and valuing, ongoing pro- fessional development ensures your employees are up- to-date on knowledge and skills training and are engaged. Consider tuition reimbursement for continued education, encouraging your employees to dream big and simultane- ously achieve professional and educational goals.
Show you care about employee well-being on and off the clock with a health and wellness program – and experi- ence increased employee efficiency and productivity. A Quantum Workplace report showed that when employ- ees believe their employer cares about their health and well-being, they are 38% more engaged, 28% more likely to recommend their workplace, and 18% more likely to go the extra mile for the organization.
Maintain a talent pipeline with a healthy internship pro- gram. When you give fresh minds insight into your busi- ness and your challenges, you gain their energy, ideas, and insight into potential future hiring opportunities.
3. Keeping Focus on Customer Engagement
Customer engagement should be a priority across your entire organization, with everyone following the same true north. This can and should be achieved year-round by getting to know your customers better, actively listening to them, constantly asking questions and knowledgeably answering their questions. A customer event can be a great way to achieve these objectives and integrate with your overarching product strategy by soliciting invaluable
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