News & Resources

Positive Job Growth in 2018, How to Prepare in 2019

January 29, 2019

2018 was a great year for job growth.  According to Roy Maurer, “2018 Was a Super Year for Job Growth.  Will Demand Slow This Year?”, he reports that the unemployment rate fell to a near 50-year low.  The top three industries listed from growth were mining, construction and professional/business services.  Information and media was the worst performing sector listed.

How to Prepare for Growth

Several ways you can prepare your business for growth:

  1. Analyze- Review your current departments.  Which areas are profitable?  Why are they profitable?  Which areas are declining?  Why are they declining.  Should more time be spent in certain department?  Should less time be spent in certain departments?
  2. Research- Once one has reviewed the various departments within their organization, take time to understand how to make each area more successful.
  3. Staff-Is staffing at it’s peak or are there areas that need filled.  Review open positions and ensure they are necessary and fill them.
  4. Promote- As the saying goes, “strike when the iron’s hot”, focus on high margin areas and what is currently on trend to promote growth.

At Loyalhanna Management Services, we have the staffing in place to assist your firm with growth.  For more information call 724-672-4300.