10 Tips for Business Success in 2019
Based on stories we published this year, consider these 10 tips for making the most of your year, both in and out of the workplace.
1. Bring your values to work
Creating a work environment that aligns with your values can be challenging. Although you can’t change your coworkers’ views, outlining specific value-based goals can help you integrate your beliefs into your job, explained Professor of Psychology and Marketing Art Markman and Professor of Music and Learning Bob Duke.
2. Make room for downtime
Embracing downtime in the workday can improve efficiency, according to research from Assistant Professor of Management Andrew Brodsky. His research found when employees are given the opportunity for leisure time, they worked faster still while maintaining work quality.
3. Learn to say ‘thank you’
A little gratitude goes a long way. Assistant Professor of Marketing Amit Kumar ’s research shows a simple letter of thanks has a larger impact on the recipient than senders typically expect.
4. Consider your political stances
It can be difficult to be the lone liberal or sole conservative in your workplace, especially if you’re new to the office. Research by Associate Professor of Management Sekou Bermiss shows being a “political misfit” might even affect your decision to stay in the job.
5. Hire women for the C-suite
Research by Professor of Finance Laura Starks finds that, in comparison with men, women bring an average of almost 10 percent additional distinct skills to boards of directors.
6. Understand the investor relations officer
Consider hiring an investor relations officer: Companies with IROs can have less stock volatility and lower capital costs, says Accounting Professor Michael Clement.
7. Reconsider performance-based promotions
Promoting employees based on their performance seems like a no-brainer, but research from Assistant Professor of Accounting Eric Chan shows that a business suffers in the long run when employees land in a position they’re ill-equipped to hold.
8. Practice your creative timing
Knowing when to stop brainstorming is key for creative teams, says Senior Marketing Lecturer Stephen Walls, since deciding when to hone in on one specific idea improves the innovation process.
9. Get comfortable with AI
Artificial intelligence will change the way people work, says James Scott, associate professor of Information, Risk, and Operations Management — but that doesn’t have to be a bad thing. AI will create jobs, improve workplace safety, and benefit the health care field.
10. Buy less stuff
To combat the billions of pounds of consumer waste going into U.S. landfills each year, Business, Government and Society Professor Julie Irwin has one line of advice: Buy less.