​10 strategies to boost your business in 2024

​Take a moment to picture your ideal career…Is it the job you’re in now or were you just daydreaming about greener pastures in another role or company? If it’s the latter, don’t worry. We’ve all been there. 

Maybe you’re worried that you don’t have the right skills or experience to get the job you really want, or maybe you’re not even sure about what you want to be doing but you know it’s not this. 

Whatever the reason, we’re here to help. Here are just three tips from the Life's Work course hosted by Reed's Chairman and CEO, James Reed, which could help you find a job you’ll love (and Love Mondays). 

Know what you want (what you really, really want)

It may seem obvious, but having a solid idea of what you want out of your career is the first step to getting there. 

It starts with understanding what your values, goals and strengths, and then using that knowledge to reflect on what careers you’ll really find fulfilling. What are your key skills and weaknesses? What tasks do you excel at (or dread doing)? And where do you really see yourself in the future?

Armed with these answers, you’ll feel more confident that your next career move is the right, because it matches not just what you want out of your job, but out of your life too.

Do your research

One of the most challenging parts of changing jobs or careers is making sure you land in a sector that isn’t in decline. That means digging into current in-demand and stable sectors, such as AI or education, to see where your skills might fit.

It’s also a good idea to look into the companies you’re interested in to see if your values align and if they’re financially stable. You won’t want to jump ship only to find yourself in a company you don’t like – or worse, that could lead to your job being at risk a few months down the line. 

Get networking

Or, as James Reed CBE puts it in his book, Life’s Work,– go to parties. 

The truth is the word ‘networking’ has become synonymous with things like sweaty palms at awkward social events and DMs from strangers on LinkedIn. But it doesn’t have to be that way.

When you strip it down to its essentials, networking is really about connecting with people who can help you (and vice versa). It could mean going for coffee with a friend to pick their brains about a sector you’re interested in it could mean attending an event and just getting to know people, and yes, it could mean messaging semi-strangers on LinkedIn – which can actually be really effective if approached in the right way and remember to personalize your message. 

While this list is by no means exhaustive, it’s a great starting point for exploring what you want to do next. 

Are you looking to take the next step in your career? Search and apply for jobs in Singapore now.

​​How does your business decide who to promote? Is career progression embedded within the workplace culture or is it done in line with employee tenure?

The process of promotion should consider merit, potential, and alignment with organizational values. Meritocracy should be the cornerstone of any promotion strategy, rooted in a comprehensive evaluation of an individual's performance, skills, and contributions to the business. Tangible achievements such as key performance indicators, project outcomes, and leadership abilities, should guide this assessment.

However, merit alone does not paint the full picture. It’s important to identify individuals with the capacity to grow, adapt, and innovate and those who demonstrate a hunger for learning, a willingness to take on new challenges, and a track record of exceeding expectations. Investing in the development of high-potential individuals is key to futureproofing your business.

Promote those who show enthusiasm and excellence

Promoting individuals who embody the core values and culture of your business reinforces a sense of purpose and belonging among employees. Beyond technical skills and performance metrics, assess candidates' alignment with your company's mission, vision, and ethics. It’s usually easy to spot those who both excel in their roles and show enthusiasm for the ethos of the business – these professionals are more likely to drive positive change and inspire their colleagues.

There have been many conversations about extroverts and introverts in the workplace and the traits typical of both – some of which can sway employers to promote one group over another. Personality testing at the hiring stage or as part of professional development, can help identify individuals with the potential to go further within the business, but they can also lead to bias, so should be balanced with traditional interviews and employee performance.

Diversity and inclusion (D&I) should also be central considerations when promoting. Ensure opportunities are accessible to individuals from all backgrounds, regardless of gender, ethnicity, age, or socio-economic status. Actively seek out diverse talent, create inclusive promotion criteria, and address systemic barriers that may impede the advancement of underrepresented groups.

Jobseekers actively look for employers that can evidence their commitment to D&I, so it pays to promote this on all channels, including in your job adverts. Lip service is not enough – professionals will not stay long in an environment they perceive as old-fashioned and out of touch. Embracing diversity strengthens your talent pool and builds on your reputation as a progressive and inclusive employer.

Employees should have a clear understanding of the criteria, process, and timeline for promotion. Provide regular feedback on their performance and development areas, empowering them to actively pursue growth opportunities. Also, establish mechanisms for staff to raise concerns or grievances related to the promotion process.

Deciding who to promote

Look for those who demonstrate both competence and potential for leadership and growth. Here are some key attributes to consider:

Job performance

Consistent achievement of goals and targets - high-quality work output, ability to meet deadlines, and manage workload effectively.

Leadership skills

Demonstrated ability to motivate and inspire others - effective communication skills, both verbal and written, capacity to delegate tasks and empower team members.

Problem-solving abilities

Aptitude for critical thinking and analytical reasoning - proven track record of resolving complex issues, willingness to take initiative and propose innovative solutions.

Adaptability

Ability to thrive in changing environments - flexibility to adjust strategies and tactics as needed, openness to feedback and willingness to learn new skills.

Emotional intelligence

Empathy towards colleagues and clients - skill in managing interpersonal relationships, self-awareness, and ability to regulate emotions.

Strategic thinking

Understanding of the broader organizational goals and objectives - the capacity to develop long-term plans and strategies, skill in prioritizing tasks, and allocating resources effectively.

Team collaboration

Track record of working well within a team - ability to foster a positive and inclusive work environment, willingness to support colleagues and share knowledge.

Continuous learning

Commitment to personal and professional development - eagerness to seek out new challenges and opportunities for growth, willingness to invest time and effort in acquiring new skills.

Ethical conduct

Integrity in decision-making and actions - respect for company values and ethical standards, accountability for own behavior and its impact on others.

Industry knowledge

Understanding of the sector in which the business operates - awareness of industry trends and developments, ability to apply industry knowledge to drive business success.

Final thoughts

Promotion creates opportunities for leaders to strengthen their business and should therefore be seen as an investment. No one should ever feel pressured to take on the greater responsibility that comes with promotion, but providing avenues for those who want the challenge is a win-win situation.

If you are looking for new talent for your teams, or considering your next career move, get in touch with one of our specialist consultants today.

​Employers are not required by law to conduct appraisals and reviews, but they do benefit all parties. If all the feedback you give your team members is through one annual appraisal, you’re doing your team a disservice and aren’t unlocking their full potential. Feedback should be far more regular to match the fast-paced environments we now work in.

The value of appraisals

Recently, appraisals have been considered a dying practice by many employers who deem it a tick-box exercise with little value. However, when done well, and more frequently, these reviews are crucial for the development of your employees and have multiple benefits for both parties:

• Ensuring employees understand their role and your expectations for them

• Determining to what extent employees are meeting those expectations

• Providing support and having an honest two-way discussion

• Acknowledging and rewarding good performance

• Nurturing your employees’ career progression

• Increasing engagement and longevity

A manager’s responsibility is to empower their people to do their work to the best of their ability and nurture their successes. Performance reviews are a chance to engage team members with regular, one-to-one, honest discussions. It’s not only a chance for the professional to receive feedback from you, but an opportunity for them to raise any concerns they have and to tell you what support they might need.

Without appraisals, employees will still be evaluated, but without the same transparency and objectivity. It will simply exclude employees from the process. This could make them feel out of control of their own futures and unaware of what they can do to improve. Providing honest feedback, even if it is a hard conversation to have, allows them the opportunity to upskill themselves and for you to show you want to help them improve.

Conducting a successful performance review

Firstly, all parties involved need to understand the process and why it’s being conducted in the first place. What do you want to achieve from this meeting? Appraisals need to be structured to be effective. Performance template examples, like the template we have designed, can help you with this.

Every appraisal should:

Be as regular as your team needs it to be– The regularity of your performance reviews will depend entirely on your company, team and management style. With most companies changing much more rapidly, and employees learning in more fast-paced environments, annual appraisals will not be as useful as a more regular performance review. When it comes to feedback, little and often is the way to go.

You might decide that once a month is best for your team members. However, it’s best to be flexible, and if monthly reviews aren’t working for individuals, try checking in with them more regularly than others. It’s all about the employee and your own judgement.

Provide effective feedback– Fundamentally, all feedback must be honest and constructive. Without honesty, it will have no value to the person receiving it – positive or negative.

Whether their performance has been excellent or less than satisfactory, you need to advise them on the next steps they should take to improve or grow further. All feedback must focus on the future and how your employee can move forward, rather than dwelling on past failures or becoming complacent following their successes.

Set SMART goals– One of the most common mistakes employers make is setting vague goals. Employers must provide their employees with SMART (specific, measurable, attainable, realistic, time-bound) goals, that they can focus on achieving ahead of their next review. For example, you may want one of your employees to ‘make more sales’ but this doesn’t give them guidance or direction on how to achieve what you want them to.

To turn this into a smart goal, it might become something like: ‘make eight sales a month, for six months, until you reach 48 sales by the end of this year’. Outlining the main goal, and the smaller steps they need to take to achieve their goals by a set deadline is much better for motivation and productivity. It’s also easier to measure and help them to stay on track to achieve their overall goal.

Be a rewarding experience for employees– Appraisals should be an experience employees look forward to. They should leave feeling that their hard work and progress since the last review has been acknowledged and rewarded by their employer. If the response hasn’t been so positive, they should leave with an awareness of how to improve, through honest and constructive feedback and SMART goals.

Be personalised to individuals– Each member of your team will have a different way of working and different needs. This should be accounted for in your performance reviews. Ideally, you would have a standardised performance review template that can be adapted to each person in your team. A one-size-fits-all approach doesn’t always work.

If any of your team members have health issues which are affecting their work, take that into consideration and do your best to support them. It is illegal to discriminate against someone for their protected characteristics such as disabilities or neurodivergence.

Likewise, be mindful of any personal issues your employee may be struggling with that may have a short-term impact on their performance. You must provide reasonable adjustments where possible to help them improve their performance.

Download our free performance review template to help you ensure your next review has a positive impact on your employees.