business management holiday season

Managing Your Business During the Holiday Season

by Jemma Ross | 16 months ago

As the holiday season approaches, it becomes important for the management and employers to keep an eye on the productivity and motivation levels within their organizations as employees can sometimes find it difficult to focus during this time due to the excitement of the holiday season as well as the burnout and fatigue.

 

Following are some tips you should follow to manage your business effectively during the holiday season:

 

1. Set Realistic Goals and Discuss Expectations

Providing guidelines on what needs to be done by the end of the holiday season or before the business closes down will help ensure that your employees do not lose sight of their required tasks. Your main focus should be the project deadlines that are most pressing. Let your employees know about holiday season expectations early including additional hours, increased responsibility, and extra workload expected. Not only will this help ensure that your business remains productive, it will also ensure that the time is managed effectively, hence reducing the stress levels of your employees.

 

2. Cashflow Optimization

It is recommended that you forecast your holiday budget. Even if it’s just an estimate, the forecast will prepare you for the holiday season and allow you to plan ahead. You are most likely not equipped to handle the high volume and unpredictability of the holiday season if your cash is not enough for your business to make do on any given day. There may even be a situation when your cash only exists in the form of accounts receivable and inventory. In such cases, you must implement certain strategies to increase your cash flow to save your business from insolvency.

 

3. Schedule Wisely 

Your employees will want time off as it’s the holiday season after all. However, not everyone will be able to take the same days off. You should work out a schedule that is fair for everyone. Start by scheduling early, before your employees buy plane tickets. You should also make it clear that while your employees may request time off during the holiday season, they may not get exactly what they want.

 

4. Consider Flexibility 

For certain businesses, the holiday season is the busiest time of the year. It is recommended that you consider offering your employees flexible hours where possible – whether it is finishing earlier or starting later. Your employees will certainly appreciate this and it will help decrease absenteeism during this time.

 

5. Staffing Needs

If your business requires extra staff for the holiday season, then make sure you hire people only for the tasks you need doing, for the time you need them done in. Fulfilling the staffing needs may sound easy but realizing this goal can take a lot of planning and forecasting.

 

6. Notify Customers and Suppliers If You Plan to Close Down

Make sure you communicate the dates in which your business will stay closed during the holiday season. You can notify customers through your website and newsletters. Suppliers should be notified via phone, email, or postal mail.

 

In conclusion, the way you manage your business and respond to the needs of your employees during the holiday season will have a huge impact on business productivity and employee morale. Following the above-mentioned tips will be highly beneficial in this regard.