There are numerous questions for CEOs to ponder in the coming year, as the business landscape continually develops. As the chief executive officer of your company, you know how important it is to lead by example. You strive to be a role model to your employees every day by leading confidently, taking responsibility, and minimizing risk.
Questions for CEOs to Ask Themselves
You can achieve the latter by investing in business insurance and contemplating these seven things CEOs should apply in the new year.
Do I Have the Right Business Insurance?
As the new year approaches, you’re probably thinking about the new risks that may emerge. The threat of business interruption is always essential to consider, and CEOs must also account for many other risks. A comprehensive business insurance policy is the best way to minimize these liabilities.
How Will Politics Affect My Business?
The political landscape is constantly in flux, and these fluctuations can significantly affect businesses. For example, if a politician promises to curb land development, you may have to pause expansion efforts. Consider the various ways that politics may impact your business in 2023.
How Will I Recruit Top Talent?
The labor shortage crisis isn’t as dire as it was a little while ago, but it still hasn’t resolved itself entirely. Many companies are still seeing a shortage of qualified candidates for critical positions, and this can lead to understaffing and operational shortcomings. Plan ahead with a strategy for recruiting top talent.
How Can I Diversify My Staff?
As you’re developing your recruiting strategy, you should also look for ways to emphasize diversity. Your clients and employees want to work with a company that genuinely values diversity, but you need to do more than pay lip service to this ideal. Make an effort to hire underrepresented candidates and invest in their growth.
How Will the Market Change?
The economy is constantly changing, and these changes will likely impact your industry, too. No matter what sector your business is in, you need to anticipate potential fluctuations in revenue or supply and demand. Predicting these changes will help your business endure periods of uncertainty.
How Can I Foster Accountability?
Accountability is another significant value that you should invest in for 2023. It may take many forms — environmental accountability, fiscal accountability, or personal accountability. Integrate these principles into your business by developing transparent policies and welcoming feedback from your clients, colleagues, and employees.
Do I Need New Business Insurance?
If you already have business insurance, you can enjoy the peace of mind that it provides. It’s an excellent idea to review your coverage from time to time, though — so if you haven’t done this recently, you should check to see whether you need new business insurance coverage. If so, reach out to your insurer to find the right policy.
About BTC Insurance
At BTC Insurance Services, we bring a customer-centered approach to our personified insurance and risk management services. We provide Utah and several other states with specialty program insurance options for commercial ventures, as well as provide residential clients with personal lines of insurance, automotive coverage and life insurance options. For more information on how our team can help with your risks, contact us today at (844) 479-0945.
