Many trends are poised to affect small businesses in 2017. We highlight a few in our year-end message.
As 2016 draws to a close, we turn our attention to small business trends that may have an impact on your business in the coming year.
Human resources will harness big data
The U.S. economy added an average of 180,000 new jobs per month in 2016, making it the healthiest job market we’ve seen in a generation. And while many sectors have begun to take advantage of the vast amounts of data we have available today, “HR and recruiting have been largely absent from this evolution,” according to a Glassdoor report. That’s why experts predict that human resources will begin to harness big data in a way we haven’t seen in this sector to date.
“Workforce analytics” are designed to track employees’ progress from hiring and training, through their career. Even small businesses without formal HR departments can take advantage of data science to help make better hiring decisions, engage staff more effectively, and provide a competitive advantage for the company.
Cybersecurity threats will continue to weigh on business owners
SurfWatch Labs’ chief security strategist predicts 2017 will be a year of innovation for hackers, which will mean that all small business owners must proactively integrate cybersecurity processes and awareness into all aspects of day-to-day operations.
Prevention is key. Basic network security with cyber-protection software is another important step and often requires an initial investment in hardware, software, and expertise to shore up your defenses. Consider how a capital advance might be a good way to finance the purchase of the needed hardware, software or investment in staffing solutions needed to help protect both your business and your customers.
Content marketing continues to reign
Content is still king—particularly mobile content. Does your business have an app yet? A blog? Infographics? Videos? Now is a great time for a complete audit of your marketing strategy overall and your content strategy in particular. Don’t be shy about paying to promote your content, either. The most successful content marketers, according to Forbes, take advantage of digital advertising. If you’ve already secured a capital advance, this may be a great place to invest those funds and grow your business.
Finally… thank you.
No year-end message would be complete without a thank you to all our customers from all of us here at Wellen. Happy new year, and best wishes for a successful and prosperous 2017.