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Wrapping Up a Year of Business

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Uncover some of the best strategies for wrapping up a year of business and how to dive into a brand new year with a strong plan and a cohesive team. Learn more about this and as it relates to relocation by reading our eBook here: http://resources.urbanbound.com/strategies-for-ending-a-year-of-relocations-ebook

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Wrapping Up a Year of Business

  1. 1. Wrapping up a year of anything can seem...well...
  2. 2. Wrapping up a year of anything can seem...well... never-ending.
  3. 3. HOWEVER.
  4. 4. HOWEVER. overwhelming as it may be...
  5. 5. HOWEVER. overwhelming as it may be... IT’S NECESSARY.
  6. 6. we’ll show you the steps for wrapping up your year successfully.
  7. 7. BUT FIRST, YOU NEED TO GET A HANDLE ON:
  8. 8. BUT FIRST, YOU NEED TO GET A HANDLE ON: your data.
  9. 9. There is so much value in the bank of data your company stores
  10. 10. We know, we know
  11. 11. data can be OVERWHELMING
  12. 12. There’s good news, though.
  13. 13. IT DOESN’T HAVE TO BE.
  14. 14. as long as you have a strong process in place
  15. 15. as long as you have a strong process in place and a plan for how to accessyour information...
  16. 16. you’ll be set up for success!
  17. 17. Here are 3 data- driven steps to wrapping up a year of business
  18. 18. STEP 1
  19. 19. find information that is going to focus on something
  20. 20. find information that is going to solve a problem
  21. 21. find information that is going to tell a story
  22. 22. let’s take relocation for example.
  23. 23. let’s take relocation for example you want to gauge the effectiveness of each policy
  24. 24. let’s take relocation for example you want to gauge the effectiveness of each policy first, start with the “what”
  25. 25. let’s take relocation for example you want to gauge the effectiveness of each policy first, start with the “what” then, find out what is going to lead you to the answer
  26. 26. WHAT DO WE WANT TO KNOW?
  27. 27. Identify locations most often associated with failed relocations Find out who our most reliable suppliers are Determine the cause of our 5 most expensive exceptions 1. 2. 3.
  28. 28. NOW, WORK BACKWARDS.
  29. 29. NOW, WORK BACKWARDS. let’s start with the first one.
  30. 30. Identify locations most often associated with failed relocations Find out who our most reliable suppliers are Determine the cause of our 5 most expensive exceptions 1. 2. 3.
  31. 31. You’ll probably want to know things like:
  32. 32. relocation origin, destination, and distance policy type demographics of transferee (age, position, salary, family/single, renter/owner) total cost of relocation You’ll probably want to know things like:
  33. 33. You pull the data and find out:
  34. 34. RELOCATED OVER 500 MILES POLICY B OVER 27 YEARS OLD, RENTER $10,000 LUMP SUM You pull the data and find out:
  35. 35. Once you start uncovering these bits of information and connect the dots, you’ll be able to make based on experience from the previous year. strategic adjustments
  36. 36. Identify locations most often associated with failed relocations Find out who our most reliable suppliers are Determine the cause of our 5 most expensive exceptions 1. 3. 1. 2.
  37. 37. You’ll probably want answer questions like:
  38. 38. who are all the suppliers we work with? which exceptions are associated with which suppliers? how much did the exception cost? what data can we pull? You’ll probably want answer questions like:
  39. 39. The Supplier/Mobility relationship should be mutually beneficial
  40. 40. The Supplier/Mobility relationship should be mutually beneficial data flow
  41. 41. The Supplier/Mobility relationship should be mutually beneficial data flow both should leverage data from one another
  42. 42. Identify locations most often associated with failed relocations Find out who our most reliable suppliers are Determine the cause of our 5 most expensive exceptions 1. 2. 1. 3.
  43. 43. You’ll probably want to address things like:
  44. 44. how much was allowed for the move areas that required exceptions and dollar amount of each suppliers associated with each exception benefits offered (homefinding trips, short- term housing, storage, etc.) You’ll probably want to address things like:
  45. 45. Now, analyze your data!
  46. 46. Try to find different parallels between each set of information and start connecting the dots!
  47. 47. STEP 2
  48. 48. Stick to the same timeline year over year, that way you’ll be able to quickly reference previous years for benchmarks
  49. 49. If you decide: Dec 18: evaluate your relocation program Dec 20: 360 assessment and review Dec 21: survey end-user (relocation employee) Dec 23: close books for the year
  50. 50. If you decide: Dec 18: evaluate your relocation program Dec 20: 360 assessment and review Dec 21: survey end-user (relocation employee) Dec 23: close books for the year Then stick to those dates every single year!
  51. 51. DON’T FORGET: As you roll-out new changes in your program, be prepared for your employees to be asking the question:
  52. 52. “ ” How will these changes affect me?
  53. 53. Talk to key stakeholders and decide when changes will go into effect and how to handle the potential aftermath of each change HOW TO ADDRESS THIS:
  54. 54. STEP 3
  55. 55. Learn what the company goals are
  56. 56. Learn what the company goals are and uncover the steps for how you’ll reach them
  57. 57. Some of the most revealing pieces of information are uncovered when you stop moving forward and instead take a bird’s eye view at your company.
  58. 58. This allows you to pull data that aligns with your organizational goals and milestones planned for the year ahead
  59. 59. Let’s say you decide that 2016 will be:
  60. 60. “The Year of Growth”
  61. 61. determine what that means. first,
  62. 62. 2016: The Year of Growth 1. Increase revenue by 20% 2. Grow customer base by 35% 3. 15% increase in revenue per customer
  63. 63. determine how you’ll get there. then,
  64. 64. 2016: The Year of Growth 1. Increase revenue by 20% 2. Grow customer base by 35% 3. 15% increase in revenue per customer experienced, well-trained salespeople and a strong customer success team
  65. 65. communicate this with:
  66. 66. KEY STAKEHOLDERS RECRUITERS FINANCE TEAMS 1. 2. 3. communicate this with:
  67. 67. Then, start taking action!
  68. 68. Wrapping up your year of business may seem like a lot of work...
  69. 69. But it can mean the difference between:
  70. 70. But it can mean the difference between: a successful year moving forward,
  71. 71. But it can mean the difference between: a successful year moving forward, or a year that looks just like the one before
  72. 72. But it can mean the difference between: a successful year moving forward, or a year that looks just like the one before (SUCCESSES AND MISTAKES INCLUDED)
  73. 73. JUST REMEMBER TO:
  74. 74. JUST REMEMBER TO: take a moment to reflect on your year
  75. 75. JUST REMEMBER TO: take a moment to reflect on your year create benchmarks and stick to them
  76. 76. JUST REMEMBER TO: take a moment to reflect on your year create benchmarks and stick to them define company goals & a strategy for reaching them
  77. 77. and you’ll be prepared for a very successful year ahead!

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